Sichuan Express(SH:601107)2021-10-28 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥2,437,866,466.41, representing a year-on-year increase of 59.73%[5] - The net profit attributable to shareholders for Q3 2021 was ¥263,280,788.90, a decrease of 38.87% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was ¥247,750,292.41, down 40.47% year-on-year[5] - Total operating revenue for the first three quarters of 2021 reached ¥6,311,713,048.02, a significant increase from ¥3,298,781,739.52 in the same period of 2020, representing a growth of approximately 91%[61] - The company's net profit for the first three quarters of 2021 was not explicitly stated, but the substantial increase in revenue suggests a positive trend in profitability[61] - The net profit for the current period is CNY 1,013,332,803.61, a significant increase from CNY 316,075,879.91 in the same period last year, representing a growth of approximately 220%[64] - The total profit for the current period is CNY 1,263,750,335.96, compared to CNY 464,106,519.60 in the previous year, indicating an increase of about 172%[64] - The operating profit reached CNY 1,265,242,051.19, up from CNY 445,871,860.43, marking an increase of approximately 184%[64] Assets and Liabilities - The total assets at the end of the reporting period were ¥41,377,613,576.19, an increase of 2.26% from the end of the previous year[8] - Total assets increased to ¥41,377,613,576.19 as of September 30, 2021, compared to ¥40,463,340,007.54 at the end of 2020, marking a growth of about 2.26%[56] - Total liabilities rose to ¥24,095,317,603.54, up from ¥23,930,179,398.33 at the end of 2020, indicating an increase of approximately 0.69%[58] - The company's long-term borrowings increased significantly to ¥16,958,194,978.62 from ¥13,407,552,225.31, reflecting a growth of about 26%[58] - The total equity attributable to shareholders reached ¥16,230,992,623.24, up from ¥15,534,511,993.27, representing an increase of approximately 4.48%[58] Cash Flow - The company reported a net cash flow from operating activities of ¥1,321,364,549.99 for the year-to-date, an increase of 3.67% year-on-year[5] - The company's cash flow from operating activities generated a net amount of CNY 1,321,364,549.99, compared to CNY 1,274,578,937.31 in the previous year, showing a slight increase[68] - The cash and cash equivalents decreased to ¥2,908,350,783.12 as of September 30, 2021, down from ¥3,231,367,092.28 at the end of 2020, reflecting a decline of approximately 10%[53] - The cash and cash equivalents at the end of the period amount to CNY 2,815,923,432.45, down from CNY 3,547,008,530.17 at the end of the previous year, indicating a decrease of about 20%[71] - The company reported a total cash inflow from financing activities of CNY 5,324,128,080.96, compared to CNY 3,792,818,082.00 in the previous year, showing an increase of approximately 40%[71] - The cash outflow from investment activities was CNY 2,791,548,698.59, compared to CNY 1,342,447,975.40 in the previous year, indicating a significant increase in investment spending[68] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,703, including 48,447 A-share shareholders and 256 H-share shareholders[24] - The company has a total of 1,035,915,462 ordinary shares held by Sichuan Provincial Transportation Investment Group[24] - The company has indirect holdings of 96,458,000 H shares through its wholly-owned subsidiary, Jiaxuan Holdings Co., Ltd.[24] - The company has a total of 664,487,376 shares held by China Merchants Highway Network Technology Holdings Co., Ltd.[23] Investments and Projects - The company has completed an investment of approximately RMB 6.396 billion in the Chengle Expressway expansion project as of September 30, 2021[29] - The estimated total investment for the Chengle Expressway expansion project is about RMB 23.133 billion, with a project length of 138.41 kilometers[25] - The sales revenue from the North City Times (Phase I) project reached approximately RMB 535.62 million by September 30, 2021[31] - The sales revenue from the A plot of the North City Times (Phase II) project is approximately RMB 606 million[28] - The company has a 91% stake in the North City Times (Phase I) project, which has been completed[31] - The Tianqiong Expressway BOT project has an estimated total investment of approximately RMB 8.685 billion, with cumulative investment of about RMB 1.142 billion completed by September 30, 2021[36] - The Luoshan "Longbao D" PPP project has an estimated total investment of approximately RMB 390 million, with a construction length of 8.3 kilometers[40] - The company plans to transfer 91% equity and corresponding shareholder loans of its subsidiary, Renshou Land Company, to Sichuan Jiaotong Real Estate for a total consideration not exceeding RMB 1,858.13 million[34] - The company’s wholly-owned subsidiary, Chengdu Shuhong Real Estate Co., plans to transfer all its property assets to Sichuan Jiaotong Real Estate for a price not exceeding RMB 87.0365 million[46] Strategic Developments - The company attributed the increase in operating revenue for the year-to-date to the resumption of normal toll collection and the recognition of sales revenue from residential properties[15] - The decrease in net profit for Q3 2021 was primarily due to the impact of the COVID-19 pandemic and construction disruptions on toll revenue[15] - The company confirmed that there were no significant changes in accounting policies or estimates that would affect the financial results reported[4] - The strategic merger between Sichuan Transportation Investment Group and Sichuan Railway Industry Investment Group has been completed, resulting in the establishment of "Shudao Investment Group"[41] - The company is exploring overseas expansion through a potential acquisition project in Turkey, with ongoing negotiations regarding the termination of the project agreement[47] - The company intends to transfer its 5% stake in the Transportation Construction Company as part of a share issuance and cash payment agreement with Sichuan Road and Bridge Construction Group[49] Research and Development - Research and development expenses for the first three quarters of 2021 were ¥310,448.34, indicating ongoing investment in innovation[61] Financial Expenses - The company reported a financial expense of ¥402,365,712.52, which includes interest expenses of ¥439,448,475.86, showing a decrease from the previous year's expenses[61] Comprehensive Income - The total comprehensive income for the current period is CNY 1,016,412,976.33, compared to CNY 250,110,832.02 in the same period last year, reflecting a growth of around 306%[67] - Basic earnings per share for the current period is CNY 0.3059, compared to CNY 0.0864 in the previous year, representing an increase of approximately 254%[67]