Westone: Q3 revenue, net loss declines confirmed in amended report

Westone Information Industry announced a 23.55% year-over-year decline in third-quarter revenue, totaling 269,050,980.60 yuan. The company reported a net loss attributable to shareholders of 39,624,293.92 yuan for the quarter, resulting in a basic and diluted earnings per share of -0.0468 yuan. Year-to-date figures also showed a 23.71% decrease in revenue to 757,306,280.54 yuan and a net loss of 213,284,306.14 yuan.

Operational cash flow saw a significant increase, with net cash generated from operating activities rising by 72.00% year-to-date to -262,760,787.24 yuan, primarily due to increased collections. However, total assets decreased by 6.38% to 6,738,839,703.80 yuan at the end of the reporting period compared to the previous year-end.

The report also highlighted several balance sheet changes, including a 73.75% decrease in notes receivable due to reduced settlement and a 549.65% increase in prepayments driven by higher procurement. Contract liabilities surged by 93.33% due to increased prepayments, while deferred income tax assets rose by 34.73% from the recognition of deferred income tax for certain subsidiaries' losses.