CYPC(600900)2023-10-30 16:00Financial Performance - Revenue for Q3 2023 reached RMB 26.88 billion, a 24.40% increase compared to the same period last year[4] - Net profit attributable to shareholders of the listed company in Q3 2023 was RMB 12.64 billion, up 38.07% year-on-year[4] - Basic earnings per share for Q3 2023 were RMB 0.5167, up 38.07% year-on-year[4] - The weighted average return on equity for Q3 2023 was 6.61%, an increase of 2.97 percentage points compared to the same period last year[4] - Total revenue for the first three quarters of 2023 reached 57.86 billion RMB, an increase from 53.07 billion RMB in the same period of 2022[14] - Operating profit for the first three quarters of 2023 was 25.55 billion RMB, slightly lower than 26.29 billion RMB in the same period of 2022[15] - Net profit attributable to the parent company's shareholders was 21.52 billion RMB, up from 20.67 billion RMB in the same period of 2022[16] - Revenue for the first three quarters of 2023 was 15.81 billion yuan, down from 17.68 billion yuan in the same period last year[24] - Net profit for the first three quarters of 2023 was 7.66 billion yuan, compared to 9.86 billion yuan in the same period last year[25] - Operating profit for the first three quarters of 2023 was 9.19 billion yuan, down from 12.34 billion yuan in the same period last year[25] - Basic earnings per share increased to 0.8797 RMB in 2023 from 0.8447 RMB in 2022[17] - Total comprehensive income for 2023 was 22.74 billion RMB, slightly lower than 23.83 billion RMB in 2022[17] Assets and Liabilities - The company's total assets as of the end of Q3 2023 stood at RMB 578.87 billion, a slight increase of 0.07% compared to the end of the previous year[4] - Total assets as of September 30, 2023, amounted to RMB 578.87 billion, showing a slight increase from RMB 578.45 billion at the end of 2022[11][12] - Current assets increased to RMB 33.10 billion from RMB 27.09 billion at the end of 2022, driven by growth in monetary funds and receivables[11] - Long-term equity investments rose to RMB 70.43 billion from RMB 67.17 billion at the end of 2022, reflecting strategic investments[12] - Fixed assets decreased to RMB 437.48 billion from RMB 450.48 billion at the end of 2022, indicating asset optimization[12] - Short-term borrowings surged to RMB 57.37 billion from RMB 26.75 billion at the end of 2022, reflecting increased liquidity needs[12] - Accounts receivable increased to RMB 23.17 billion from RMB 15.23 billion at the end of 2022, indicating higher sales on credit[11] - Total current liabilities rose to RMB 155.61 billion from RMB 91.75 billion at the end of 2022, driven by higher short-term borrowings and payables[12] - Total liabilities increased to 370.67 billion RMB in 2023 from 322.44 billion RMB in 2022[13] - Total equity attributable to the parent company's shareholders decreased to 197.20 billion RMB in 2023 from 227.67 billion RMB in 2022[13] - Total assets increased to 292.97 billion yuan from 243.61 billion yuan year-over-year[22] - Total liabilities rose to 157.01 billion yuan from 104.74 billion yuan year-over-year[22] - Short-term borrowings surged to 50.68 billion yuan from 24.18 billion yuan year-over-year[22] - Long-term borrowings increased to 44.96 billion yuan from 31.96 billion yuan year-over-year[22] - Total equity decreased slightly to 135.95 billion yuan from 138.87 billion yuan year-over-year[23] - Total liabilities for Q3 2023 amounted to RMB 322.44 billion, with non-current liabilities making up RMB 230.69 billion[31] - Total owner's equity (or shareholders' equity) for Q3 2023 stood at RMB 256.02 billion[32] - Total assets for Q3 2023 were RMB 243.61 billion, with non-current assets accounting for RMB 212.46 billion[34] - Short-term borrowings for Q3 2023 were RMB 24.18 billion[34] - Long-term borrowings for Q3 2023 totaled RMB 31.96 billion[34] - Deferred tax liabilities increased by RMB 157.03 million in Q3 2023[34] - Total current liabilities for Q3 2023 were RMB 35.94 billion[34] - Total non-current liabilities for Q3 2023 were RMB 68.80 billion[34] - Total liabilities and owner's equity (or shareholders' equity) for Q3 2023 amounted to RMB 578.45 billion[32] - Deferred tax assets increased by RMB 157.03 million in Q3 2023[34] - Other comprehensive income reached 2,103,793,431.09[35] - Surplus reserve amounted to 22,934,762,401.97[35] - Undistributed profits totaled 31,410,256,750.40[35] - Total owner's equity (or shareholders' equity) was 138,872,999,263.89[35] - Total liabilities and owner's equity (or shareholders' equity) amounted to 243,611,612,379.88[35] Cash Flow and Investments - The company's operating cash flow for the first nine months of 2023 was RMB 36.38 billion, a 2.95% increase compared to the same period last year[4] - Operating cash flow increased to RMB 36.38 billion in the first three quarters of 2023, up from RMB 35.34 billion in the same period of 2022[19] - Investment cash outflow surged to RMB 137.95 billion in the first three quarters of 2023, significantly higher than RMB 91.09 billion in the same period of 2022[19] - Financing cash inflow rose to RMB 153.24 billion in the first three quarters of 2023, up from RMB 81.86 billion in the same period of 2022[19] - Cash and cash equivalents decreased to RMB 7.75 billion at the end of September 2023, down from RMB 9.90 billion at the end of September 2022[20] - Long-term equity investments grew to RMB 185.68 billion as of September 30, 2023, compared to RMB 123.55 billion as of December 31, 2022[21] - Fixed assets decreased to RMB 80.55 billion as of September 30, 2023, down from RMB 83.90 billion as of December 31, 2022[21] - Accounts receivable increased to RMB 2.75 billion as of September 30, 2023, up from RMB 1.33 billion as of December 31, 2022[21] - Total current assets declined to RMB 20.72 billion as of September 30, 2023, compared to RMB 31.16 billion as of December 31, 2022[21] - Other receivables decreased to RMB 14.64 billion as of September 30, 2023, down from RMB 25.30 billion as of December 31, 2022[21] - Operating cash flow increased to 11,007,172,098.28 RMB in 2023 Q1-Q3, up from 9,689,171,998.06 RMB in the same period last year[27] - Investment cash outflow surged to 125,274,169,008.57 RMB in 2023 Q1-Q3, compared to 65,825,091,079.24 RMB in 2022 Q1-Q3[27] - Financing cash inflow reached 121,380,084,960.43 RMB in 2023 Q1-Q3, significantly higher than 44,600,000,000.00 RMB in 2022 Q1-Q3[28] - Net cash flow from financing activities turned positive at 43,782,332,300.15 RMB in 2023 Q1-Q3, versus -10,170,649,852.81 RMB in 2022 Q1-Q3[28] - Total assets stood at 578,615,548,398.05 RMB as of 2023 Q3, with a 161,978,979.77 RMB increase due to deferred tax assets adjustment[30] - Fixed assets remained substantial at 450,480,026,644.17 RMB as of 2023 Q3[30] - Long-term equity investments totaled 67,166,066,218.63 RMB as of 2023 Q3[30] - Cash and cash equivalents decreased to 2,964,645,794.23 RMB at the end of 2023 Q3, down from 4,220,288,136.98 RMB at the beginning of the year[28] - Accounts receivable amounted to 15,227,668,604.93 RMB as of 2023 Q3[29] - Inventory stood at 567,385,580.82 RMB as of 2023 Q3[30] Shareholder Information - The company's largest shareholder, China Yangtze Power Co., Ltd., holds 50.41% of the shares[8] - The number of ordinary shareholders at the end of Q3 2023 was 210,416[8] - The company's top shareholder, China Yangtze Power Co., Ltd., holds 11.87 billion shares, representing a significant portion of the total shares[9] - Yunnan Energy Investment Group holds 949.55 million shares, with 785.76 million shares pledged as collateral[9][10] R&D and Expenses - The company's development expenditure increased to RMB 100.44 million from RMB 88.05 million at the end of 2022, reflecting ongoing R&D efforts[12] - R&D expenses surged to 237.75 million RMB in 2023, a significant increase from 21.94 million RMB in 2022[15] - Financial expenses rose to 9.43 billion RMB in 2023, up from 7.16 billion RMB in 2022[15] - Interest expenses increased to 9.58 billion RMB in 2023 from 7.33 billion RMB in 2022[15] - R&D expenses increased significantly to 137.11 million yuan from 21.65 million yuan year-over-year[24] - Financial expenses rose to 3.99 billion yuan from 2.51 billion yuan year-over-year[24] Non-Recurring Items - The company's non-recurring gains and losses for Q3 2023 amounted to a loss of RMB 318.21 million, primarily due to changes in the fair value of financial assets[5] Electricity Generation - The company's six cascade power stations generated 185.72 billion kWh more electricity in Q3 2023, a 22.77% increase compared to the same period last year[7]