WTECL(SH:600157)2019-10-29 16:00Financial Performance - Net profit attributable to shareholders was CNY 131 million, an increase of 321.46% year-on-year[4]. - Operating revenue for the first nine months was CNY 15.28 billion, down 8.13% from the same period last year[4]. - Basic earnings per share were CNY 0.0105, up 320% compared to CNY 0.0025 in the previous year[4]. - The company reported a significant increase in accounts payable, which rose to approximately 3.29 billion yuan from approximately 2.87 billion yuan year-on-year[20]. - The company reported a net loss of CNY 527.06 million in retained earnings, compared to a profit of CNY 213.58 million in the previous year[23]. - The total profit for the first three quarters of 2019 was approximately ¥632.58 million, an increase from ¥420.89 million in the same period of 2018[24]. - Net profit for Q3 2019 was approximately ¥75.46 million, compared to a net loss of ¥266.05 million in Q3 2018[25]. - The company reported a profit margin of 1.35% in Q3 2019, a significant improvement from the negative margin in Q3 2018[25]. Cash Flow and Liquidity - Net cash flow from operating activities for the first nine months was CNY 3.74 billion, a decrease of 4.39% year-on-year[4]. - The company reported a significant decrease in cash and cash equivalents, down 50.45% to CNY 1.40 billion due to reduced financing and debt repayment[8]. - The company’s cash flow from financing activities decreased significantly by CNY 1,825,762,512.58, indicating a loss of financing capabilities[11]. - The total cash outflow from investment activities in the first three quarters of 2019 was CNY 1,084,050.97, slightly higher than CNY 1,076,237.34 in the same period of 2018[31]. - The company experienced a net increase in cash and cash equivalents of CNY 491,844.68 in the first three quarters of 2019, contrasting with a decrease of CNY -27,543,080.23 in the same period of 2018[31]. - The total cash and cash equivalents at the end of the third quarter of 2019 stood at CNY 2,536,953.13, down from CNY 7,088,470.23 at the end of the same period in 2018[31]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 105.63 billion, a decrease of 0.84% compared to the end of the previous year[4]. - The company’s total liabilities were CNY 43.63 billion, slightly down from CNY 43.69 billion year-over-year, indicating a decrease of about 0.1%[23]. - Current assets totaled CNY 38.52 billion, down from CNY 39.34 billion, representing a decline of approximately 2.1%[22]. - The company’s long-term borrowings increased to CNY 5.92 billion from CNY 2.93 billion, marking a substantial rise of approximately 101.5%[23]. - The company’s total liabilities decreased from CNY 24,181,811,668.64 in the first three quarters of 2018 to CNY 11,053,111,792.22 in the same period of 2019, reflecting improved financial stability[29]. Strategic Initiatives - The company has initiated a strategic restructuring plan to reduce leverage and financial costs, which has been recognized by most creditors[13]. - The company is actively pursuing asset disposals, with a total of CNY 23.8 billion in asset disposal projects under negotiation[14]. - The company is in the process of debt restructuring, with ongoing negotiations with creditors and a focus on restoring normal operations[17]. - The company implemented new financial instrument standards starting January 1, 2019, affecting various accounts[35]. Operational Highlights - The company’s construction in progress increased by 30.20% to CNY 7.89 billion, indicating ongoing investment in projects[8]. - For the first nine months of 2019, the company's power generation reached 24.517 billion kWh, and electricity sales amounted to 23.295 billion kWh[16]. - The coal business produced 6.3185 million tons of raw coal, with sales of 6.2986 million tons, including 3.1317 million tons for external sales and 3.1669 million tons for internal sales[16]. - The company invested CNY 1,492,297,561.31 in fixed assets, intangible assets, and other long-term assets during the third quarter of 2019, compared to CNY 2,281,789,442.32 in the same quarter of 2018[29].