Xianhe(603733)2023-10-30 16:00Profitability and Earnings - Net profit attributable to shareholders decreased by 32.65% year-over-year, primarily due to rising raw material costs and labor expenses, with delayed price transmission to the market[5] - The company's diluted earnings per share decreased by 38.55% year-over-year, reflecting the impact of rising costs[5] - The company's basic earnings per share decreased by 32.50% year-over-year, consistent with the decline in net profit[5] - Net profit for the first three quarters of 2023 was 384,421,861.16 RMB, a decrease of 32.6% from 570,615,015.10 RMB in the same period of 2022[39] - Net profit attributable to shareholders of the listed company decreased by 5.45% to 201,194,700.78 yuan[64] - The basic earnings per share were 0.29 yuan, a decrease of 3.33 yuan compared to the previous period[47] - The diluted earnings per share were 0.27 yuan, a decrease of 12.90 yuan compared to the previous period[47] Cash Flow and Liquidity - Operating cash flow decreased by 236.44% year-over-year, mainly due to increased payments for raw material purchases[5] - Operating cash flow was -723,207,444.84 RMB, a significant decline from 530,047,867.95 RMB in the previous period[28] - Investment cash flow was -2,227,952,289.02 RMB, compared to -372,900,867.06 RMB in the previous period[28] - Operating cash flow for the first three quarters was -368,840,090.33 RMB, compared to -312,921,466.42 RMB in the same period last year[31] - Net cash flow from financing activities increased to 1,022,717,181.30 yuan, up from 363,805,987.20 yuan in the previous period[44] - Cash and cash equivalents at the end of the period decreased to 47,847,433.76 yuan from 583,303,625.82 yuan in the previous period[44] - The net cash flow from investment activities was -700,774,509.03 yuan, compared to 154,082,793.04 yuan in the previous period[44] Assets and Investments - Total assets increased by 32.31% year-over-year, driven by new project investments in Guangxi and Hubei[5] - The company's total equity attributable to shareholders increased by 32.31% year-over-year, driven by new project investments[5] - Inventory increased to 2,925,659,974.15, up 42.4% compared to the previous period[17] - Other current assets rose to 1,182,445,425.53, a 97.0% increase from the previous period[17] - Total current assets reached 7,982,728,954.04, up 14.6% compared to the previous period[17] - Long-term equity investments grew to 1,043,145,962.73, a 20.8% increase from the previous period[17] - Fixed assets increased to 3,569,047,155.16, up 25.4% compared to the previous period[17] - Construction in progress surged to 2,215,971,787.44, a 92.3% increase from the previous period[17] - Total assets amounted to 17,548,912,652.67, up 32.3% compared to the previous period[17] - Long-term equity investments increased to 2,933,581,081.05 RMB, up 21.95% from 2,405,624,277.70 RMB[29] - Fixed assets decreased to 895,564,219.54 RMB, down 8.75% from 981,448,335.59 RMB[29] - Total assets grew to 11,193,822,052.88 RMB, up 15.01% from 9,733,329,314.34 RMB[29] - Total assets increased by 32.31% to 17,548,912,652.67 yuan compared to the end of the previous year[47] - The company's monetary funds increased to 1,207,450,253.56 RMB as of September 30, 2023, compared to 943,972,306.72 RMB at the end of 2022[77] - Accounts receivable increased to 1,458,338,251.89 RMB as of September 30, 2023, compared to 1,309,813,662.33 RMB at the end of 2022[77] - The company's trading financial assets decreased to 341,673,479.46 RMB as of September 30, 2023, from 1,036,123,638.33 RMB at the end of 2022[77] - Accounts receivable financing decreased to 765,300,103.47 RMB as of September 30, 2023, from 841,959,898.63 RMB at the end of 2022[77] - Prepayments decreased to 87,600,586.42 RMB as of September 30, 2023, from 157,294,579.41 RMB at the end of 2022[77] - Other receivables decreased to 11,234,999.83 RMB as of September 30, 2023, from 19,197,891.69 RMB at the end of 2022[77] - The company's notes receivable decreased to 3,025,879.73 RMB as of September 30, 2023, from 5,120,935.92 RMB at the end of 2022[77] Liabilities and Equity - Short-term borrowings rose to 2,553,517,323.49, a 44.2% increase from the previous period[17] - Total liabilities reached 10,477,097,689.99, up 64.9% compared to the previous period[20] - Short-term borrowings increased to 1,538,409,908.57 RMB, up 32.54% from 1,160,664,939.11 RMB[29] - Total liabilities as of the end of the third quarter of 2023 were 5,412,345,598.08 RMB, up 35.9% from 3,983,013,739.17 RMB at the end of the same period in 2022[42] - Total equity as of the end of the third quarter of 2023 was 5,781,476,454.80 RMB, a slight increase from 5,750,315,575.17 RMB at the end of the same period in 2022[42] - The company's total liabilities and shareholders' equity reached 17,548,912,652.67 RMB as of September 30, 2023, up from 13,263,623,257.55 RMB at the end of 2022[80] Revenue and Costs - Operating revenue for the first three quarters of 2023 was 6,212,503,644.51 RMB, a 12.8% increase from 5,509,896,152.52 RMB in the same period of 2022[35] - Operating costs for the first three quarters of 2023 were 6,026,162,962.48 RMB, up 18.4% from 5,088,606,603.47 RMB in the same period of 2022[35] - Revenue from investments for the first three quarters of 2023 was 181,114,523.74 RMB, a 76.6% increase from 102,586,755.99 RMB in the same period of 2022[35] - Revenue from other sources for the first three quarters of 2023 was 66,590,182.60 RMB, a decrease of 25.1% from 88,935,661.05 RMB in the same period of 2022[35] - Operating income for the reporting period was 2,446,161,411.55 yuan, a year-on-year increase of 27.94%[64] - Cash received from sales of goods and services was 1,223,936,716.63 RMB, up 5.53% from 1,159,744,043.65 RMB[31] - Cash paid for goods and services was 1,421,343,336.90 RMB, up 16.66% from 1,218,348,226.10 RMB[31] Financial Expenses and Subsidies - Financial expenses for the first three quarters of 2023 were 153,703,839.86 RMB, a significant increase from 51,378,563.31 RMB in the same period of 2022[35] - Government subsidies recognized in the current period amounted to 37,665,972.96 RMB for the reporting period and 66,590,182.60 RMB year-to-date[74] - Non-current asset disposal gains amounted to 410,529.98 RMB for the reporting period and 351,208.14 RMB year-to-date[74] Convertible Bonds and Shareholder Information - The company issued RMB 2.05 billion in convertible bonds, with RMB 97,000 converted into shares as of September 28, 2023[14] - The convertible bonds ("He 21 Convertible Bonds") are convertible from May 23, 2022, to November 16, 2027[15] - The amount of "He 21 Convertible Bonds" not yet converted was 2,049,902,000 yuan, accounting for 99.99953% of the total issuance[54] - The top shareholder, Zhejiang Xianhe Holding Group Co., Ltd., holds 540 million shares, representing 76.49% of the total shares[11] Comprehensive Income and Other Financial Metrics - Comprehensive income totaled 378,846,751.90, down 33.3% compared to the previous period[22] - Total comprehensive income for the period reached 249,999,729.50 RMB, compared to 204,735,266.53 RMB in the previous year[33] - The weighted average return on equity decreased by 3.06 percentage points to 5.40%[47]