CH ENERGY ENG(601868)2024-10-30 11:47Financial Performance - The company's operating revenue for Q3 2024 reached CNY 100,876,962, an increase of 8.24% compared to the same period last year[2]. - Net profit attributable to shareholders for Q3 2024 was CNY 822,396, representing a significant increase of 97.81% year-on-year[2]. - Basic earnings per share for Q3 2024 was CNY 0.02, a 100% increase compared to the same period last year[4]. - The company's net profit attributable to shareholders for the first three quarters was RMB 3.604 billion, reflecting a strong performance amidst ongoing market challenges[10]. - Total operating revenue for the first three quarters of 2024 reached RMB 295,138,721 thousand, an increase of 3.0% compared to RMB 285,312,963 thousand in the same period of 2023[23]. - Net profit attributable to shareholders of the parent company was RMB 3,604,277 thousand, representing a 17.3% increase from RMB 3,073,299 thousand in the previous year[24]. Assets and Liabilities - Total assets at the end of Q3 2024 amounted to CNY 858,126,846, reflecting a growth of 9.57% from the end of the previous year[4]. - The company's total liabilities increased to 22,465,222 in Q3 2024 from 12,475,192 in Q3 2023, reflecting a rise of approximately 80.0%[30]. - Total assets reached RMB 858,126,846, up from RMB 783,156,193, indicating a growth of about 9.6%[21]. - Total liabilities increased to RMB 665,521,804 from RMB 594,903,314, reflecting an increase of approximately 11.8%[22]. Cash Flow - The net cash flow from operating activities for the year-to-date was CNY -12,518,358, indicating a negative cash flow situation[2]. - The net cash flow from operating activities for Q3 2024 was -12,518,358, compared to -14,747,034 in Q3 2023, showing an improvement[28]. - Cash inflow from operating activities totaled RMB 277,850,057 thousand, compared to RMB 251,855,890 thousand in the first three quarters of 2023, marking a 10.3% increase[26]. - The net cash flow from operating activities for the first three quarters of 2024 was -CNY 426,609,000, compared to -CNY 341,544,000 in the previous year[33]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 356,285[7]. - The largest shareholder, China Energy Construction Group Co., Ltd., holds 44.88% of the shares[7]. - The controlling shareholder, China Energy Construction Group, increased its stake by acquiring 23,888,500 A-shares for a total amount of RMB 50,000,109 in December 2023[16]. Research and Development - R&D expenses increased by 19.3% year-on-year, with 1,325 patents granted, highlighting the company's commitment to innovation[12]. - Research and development expenses rose to RMB 8,255,419 thousand, a significant increase of 19.3% compared to RMB 6,919,773 thousand in the same period last year[23]. Contracts and Projects - In the first three quarters of 2024, the company achieved new contract value, operating revenue, and net profit attributable to shareholders of RMB 988.859 billion, RMB 295.139 billion, and RMB 3.604 billion, representing year-on-year growth of 5.03%, 3.44%, and 17.28% respectively[10]. - The domestic new contract value reached RMB 753.954 billion, a year-on-year increase of 4.98%, while overseas new contract value was RMB 234.905 billion, up 5.19%, with "Belt and Road" countries contributing a 32.17% increase[11]. - The company secured new energy and comprehensive smart energy business contracts with a year-on-year growth of 19.4% in contract value and 10.1% in operating revenue[13]. Investment and Financing - A new share buyback plan is set to commence on October 15, 2024, with a total investment of no less than RMB 300 million and up to RMB 500 million over six months[16]. - The company plans to raise up to RMB 9 billion through a private placement to fund multiple renewable energy projects, including a 300 MW compressed air energy storage project in Hubei[17]. - The company raised CNY 12,400,000,000 from financing activities, with cash outflows totaling CNY 7,270,810,000, leading to a net cash flow of CNY 5,129,190,000[34]. Inventory and Current Assets - The company reported a significant increase in inventory, which rose to RMB 86,522,654 from RMB 67,957,770, representing a growth of approximately 27.4%[19]. - As of September 30, 2024, total current assets increased to RMB 475,825,658, up from RMB 426,069,970 as of December 31, 2023, reflecting a growth of approximately 11.6%[19].