CGN POWER(003816)2024-10-23 11:37Financial Performance - Revenue for Q3 2024 reached RMB 22.89 billion, an increase of 11.31% year-over-year[4] - Net profit attributable to shareholders for Q3 2024 was RMB 2.87 billion, up 4.87% year-over-year[4] - Revenue for the first nine months of 2024 was RMB 622.70 billion, up 4.06% year-over-year, driven by increased electricity generation and construction projects[7] - Net profit attributable to shareholders for the first nine months of 2024 was RMB 99.84 billion, a 2.93% increase year-over-year[7] - Total operating revenue for the period reached 62.27 billion RMB, compared to 59.84 billion RMB in the previous period, representing a 4.06% increase[23] - Operating profit for the period was 18.63 billion RMB, slightly higher than the 18.47 billion RMB in the previous period[24] - Net profit attributable to parent company shareholders was 9.98 billion RMB, up from 9.70 billion RMB in the previous period, a 2.93% increase[24] - Basic earnings per share (EPS) for the period was 0.1977, compared to 0.1921 in the previous period[25] Assets and Liabilities - Total assets as of the end of Q3 2024 stood at RMB 421.50 billion, a 1.51% increase from the end of the previous year[4] - Total assets as of the end of Q3 2024 amounted to RMB 421.50 billion, an increase from RMB 415.25 billion at the beginning of the period[20] - Total liabilities as of the end of Q3 2024 were RMB 250.60 billion, slightly up from RMB 249.95 billion at the beginning of the period[21] - Owner's equity as of the end of Q3 2024 stood at RMB 170.90 billion, compared to RMB 165.30 billion at the beginning of the period[22] Cash Flow and Financing - Cash and cash equivalents increased by 31.86% to RMB 2.08 billion, primarily due to the issuance of medium-term notes for debt repayment[8] - Cash received from investments decreased by 32.68% to 75,059.72 million yuan, primarily due to reduced cash dividends from equity investments[11] - Cash paid for investments increased by 365.74% to 27,944.66 million yuan, mainly due to the acquisition of equity in Ningde Second Nuclear Power[11] - Cash received from borrowings increased by 40.58% to 7,215,874.18 million yuan, primarily to meet operational, investment, and debt repayment needs[11] - Net increase in cash and cash equivalents rose by 59.66% to 486,253.35 million yuan, driven by changes in operating, investing, and financing cash flows[11] - Cash flow from operating activities was 25.82 billion RMB, a decrease from 26.99 billion RMB in the previous period[26] - Sales of goods and services generated 70.35 billion RMB in cash inflows, up from 68.59 billion RMB in the previous period[26] - Cash outflows for purchasing goods and services increased to 30.56 billion RMB from 27.98 billion RMB in the previous period[26] - Cash inflows from investment activities decreased to 3.91 billion RMB from 4.83 billion RMB in the previous period[26] - Cash outflow for investment activities totaled 13,121,125,914.05 yuan, an increase from 12,103,714,564.02 yuan in the previous period[27] - Net cash flow from investment activities was -9,212,392,032.58 yuan, compared to -7,270,305,590.63 yuan previously[27] - Cash inflow from financing activities reached 72,257,347,456.54 yuan, up from 51,409,074,606.69 yuan[27] - Net cash flow from financing activities was -11,760,067,547.52 yuan, an improvement from -16,700,126,362.39 yuan[27] - The company's cash and cash equivalents increased by 4,862,533,499.34 yuan, compared to 3,045,503,904.45 yuan in the previous period[27] - Ending cash and cash equivalents balance stood at 13,960,170,772.96 yuan, up from 10,603,107,457.03 yuan[27] Business Operations - Total electricity generated by the company's nuclear power plants in the first nine months of 2024 was 166.89 billion kWh, a 4.97% increase year-over-year[7] - Construction of Ningde Unit 5 commenced on July 28, 2024, marking the start of full-scale civil construction[16] - The company plans to issue A-share convertible bonds with a total fundraising amount not exceeding RMB 4.9 billion, to be used for the Guangdong Lufeng Nuclear Power Plant Units 5 and 6 project[17] - The company received approval from the State Council for new nuclear projects, including Zhaoyuan Units 1 and 2, Lufeng Units 1 and 2, and Cangnan Units 3 and 4 on August 19, 2024[19] Other Financial Metrics - Contract assets grew by 69.93% to RMB 521.62 billion, reflecting increased project business volume[8] - Contract liabilities increased by 54.44% to RMB 439.67 billion, also due to higher project business volume[8] - Other current liabilities surged by 1,668.02% to RMB 268.27 billion, mainly due to the issuance of ultra-short-term financing bonds[8] - Other business revenue decreased by 44.13% to 8,504.47 million yuan, primarily due to reduced income from material sales and leasing business[10] - Other business costs decreased by 31.13% to 8,380.76 million yuan, mainly due to reduced costs from material sales and leasing business[10] - Credit impairment losses reversed by 354.10% to 15,116.24 million yuan, mainly due to the reversal of impairment provisions for receivables from CGN Wind Power projects[10] - Asset disposal income increased by 269.17% to 1,113.86 million yuan, primarily due to increased income from property disposals[10] - Non-operating income increased by 362.37% to 5,163.70 million yuan, mainly due to increased income from asset scrapping and contract claims[10] Shareholding and Equity - CGN holds 58.89% of the company's shares, totaling 29,736,876,375 shares[12] Audit and Reporting - The third quarter report was unaudited[28]