中电环保(300172) - 2024 Q3 - 季度财报

Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility - The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of the quarterly report and assume legal responsibility[2] - The company's principal, head of accounting, and head of the accounting department declare the truthfulness, accuracy, and completeness of the financial information[2] - This third-quarter report for the current period is unaudited[2] Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) Key Accounting Data and Financial Indicators The company's Q3 revenue increased 14.20% and net profit 58.30%; year-to-date revenue decreased 22.25% and net profit 16.61%, with operating cash flow surging 758.54% Key Financial Indicators Year-on-Year Change (Q3) | Indicator | Amount for This Period (CNY) | Year-on-Year Change | | :------------------------------------------------------------ | :--------------------------- | :------------------ | | Operating Revenue | 248,100,417.24 | 14.20% | | Net Profit Attributable to Parent Company Shareholders | 32,091,088.16 | 58.30% | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 28,409,552.61 | 109.94% | | Basic Earnings Per Share (CNY/share) | 0.0474 | 58.07% | | Diluted Earnings Per Share (CNY/share) | 0.0474 | 58.07% | | Weighted Average Return on Net Assets | 1.75% | 0.65% | Key Financial Indicators Year-on-Year Change (Year-to-Date Q3) | Indicator | Amount Year-to-Date (CNY) | Year-on-Year Change | | :------------------------------------------------------------ | :------------------------ | :----------------------- | | Operating Revenue | 601,150,250.15 | -22.25% | | Net Profit Attributable to Parent Company Shareholders | 84,525,478.37 | -16.61% | | Net Profit Attributable to Parent Company Shareholders (Excluding Non-recurring Items) | 67,478,491.39 | -8.03% | | Net Cash Flow from Operating Activities | 147,962,517.18 | 758.54% | | Basic Earnings Per Share (CNY/share) | 0.1249 | -16.62% | | Diluted Earnings Per Share (CNY/share) | 0.1249 | -16.62% | | Weighted Average Return on Net Assets | 4.54% | Decreased by 1.04 percentage points | Balance Sheet Indicators Change (End of Period vs. End of Prior Year) | Indicator | Amount at End of This Period (CNY) | Amount at End of Prior Year (CNY) | Change Rate | | :-------------------------------------------- | :--------------------------------- | :-------------------------------- | :---------- | | Total Assets | 2,730,748,164.71 | 2,892,024,073.44 | -5.58% | | Equity Attributable to Parent Company Shareholders | 1,894,347,600.68 | 1,830,123,422.31 | 3.51% | Non-recurring Gains and Losses and Amounts The company lists non-recurring gains and losses for the current period and year-to-date, which collectively had a positive impact on net profit, primarily from government grants and fair value changes of financial assets Explanation of Classifying Non-recurring Gains and Losses as Recurring Gains and Losses The company classifies certain VAT refunds (software integrated circuits, sludge disposal services) and VAT input tax deductions as recurring gains and losses, as they are closely related to normal business operations and comply with national policies Non-recurring Gains and Losses and Amounts (Unit: CNY) | Item | Amount for This Period | Amount Year-to-Date | | :-------------------------------------------------------------------------------------------------------------------- | :------------------- | :------------------ | | Gains and losses from disposal of non-current assets | -401.39 | -3,110.44 | | Government grants included in current profit and loss (excluding those continuously enjoyed) | 1,756,205.97 | 8,792,098.83 | | Gains and losses from changes in fair value of financial assets and liabilities held by non-financial enterprises, and disposal gains and losses | 2,494,546.78 | 11,141,214.39 | | Other non-operating income and expenses | 56,756.70 | 60,704.83 | | Less: Income tax impact | 624,102.51 | 2,893,694.00 | | Impact on minority interests (after tax) | 1,470.00 | 50,226.63 | | Total | 3,681,535.55 | 17,046,986.98 | - The company classifies VAT refunds for software integrated circuits (CNY 402,045.43), VAT refunds for sludge disposal services (CNY 301,993.58), and VAT input tax deductions (CNY 4,087,712.21) as recurring gains and losses, as they are closely related to the company's business and are government grants enjoyed according to national unified standards or quotas[5] Changes and Reasons for Key Accounting Data and Financial Indicators This period saw significant changes across multiple balance sheet, income statement, and cash flow statement items, primarily influenced by business operations, financing activities, and investment strategy adjustments Significant Changes and Reasons for Balance Sheet Items Balance sheet item changes primarily reflect an increase in notes receivable, a decrease in accounts receivable financing, significant repayment of short-term and long-term borrowings, and fluctuations in construction in progress and certain liability items - Notes receivable at period-end was CNY 7.9036 million, an increase of 74.92% from the beginning of the period, mainly due to an increase in bank acceptance bills received this period[6] - Accounts receivable financing at period-end was CNY 12.0250 million, a decrease of 75.98% from the beginning of the period, mainly due to the use of bank acceptance bills to pay for goods this period[6] - Construction in progress at period-end was CNY 0.8735 million, an increase of 169.39% from the beginning of the period, mainly due to new construction projects this period[6] - Short-term borrowings at period-end were CNY 4.00 million, a decrease of 93.45% from the beginning of the period, mainly due to repayment of bank borrowings this period[6] - Non-current liabilities due within one year at period-end were CNY 2.50 million, a decrease of 92.97% from the beginning of the period, mainly due to a decrease in long-term borrowings due within one year[6] - Long-term borrowings at period-end were CNY 80.00 million, a decrease of 46.94% from the beginning of the period, mainly due to repayment of some long-term borrowings this period[6] Significant Changes and Reasons for Income Statement Items Income statement item changes are primarily influenced by financial expenses, fair value change gains and losses, credit impairment losses, and asset impairment losses, with financial expenses and credit impairment losses significantly decreasing - Financial expenses for January-September 2024 were CNY 1.1332 million, a year-on-year decrease of 79.99%, mainly due to reduced loan interest expenses[7] - Fair value change gains and losses for January-September 2024 were CNY 7.2270 million, a year-on-year decrease of 57.35%, mainly due to reduced income from wealth management products[7] - Credit impairment losses for January-September 2024 were CNY -5.6604 million, a year-on-year decrease of 80.49%, mainly due to the recovery of long-aged receivables[7] - Asset impairment losses for January-September 2024 were CNY 4.7641 million, compared to CNY -1.1999 million in the same period last year, a year-on-year decrease of 497.03%, mainly due to reduced impairment provisions for contract assets[7] Significant Changes and Reasons for Cash Flow Statement Items Cash flow statement item changes primarily reflect a significant increase in net cash flow from operating activities, a notable decrease in net cash flow from investing activities, and a substantial outflow from financing activities due to loan repayments - Net cash flow from operating activities for January-September 2024 was CNY 147.9625 million, a year-on-year increase of 758.54%, mainly due to reduced procurement payments[8] - Net cash flow from investing activities for January-September 2024 was CNY 38.6558 million, a year-on-year decrease of 78.96%, mainly due to reduced purchases of wealth management products[8] - Net cash flow from financing activities for January-September 2024 was CNY -185.5597 million, a year-on-year decrease of 527.47%, mainly due to loan repayments[8] Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) Total Number of Common Shareholders and Top Ten Shareholders' Shareholding As of the end of the reporting period, the company had 46,729 common shareholders, with the largest shareholder, Wang Zhengfu, holding 28.22% of shares, including a significant portion of restricted shares - Total number of common shareholders at the end of the reporting period: 46,729 accounts[9] Top Ten Common Shareholders' Shareholding | Shareholder Name | Shareholder Nature | Shareholding Percentage | Number of Shares Held | Number of Restricted Shares Held | | :-------------------------------------- | :----------------- | :---------------------- | :-------------------- | :------------------------------- | | Wang Zhengfu | Domestic Natural Person | 28.22% | 190,985,605 | 143,239,204 | | Lin Huisheng | Domestic Natural Person | 2.40% | 16,256,424 | 0 | | Zhu Laisong | Domestic Natural Person | 1.52% | 10,269,029 | 7,701,772 | | Huan Guoping | Domestic Natural Person | 1.27% | 8,600,000 | 0 | | Liu Xueliang | Domestic Natural Person | 1.14% | 7,740,000 | 0 | | Cao Minghua | Domestic Natural Person | 0.76% | 5,150,000 | 0 | | Yuan Jinmei | Domestic Natural Person | 0.49% | 3,330,000 | 0 | | Zhu Shisheng | Domestic Natural Person | 0.34% | 2,306,850 | 1,730,137 | | MORGAN STANLEY & CO. INTERNATIONAL PLC. | Overseas Legal Person | 0.28% | 1,917,158 | 0 | | Wang Jianzhong | Domestic Natural Person | 0.26% | 1,768,200 | 0 | - The company is unaware of any associated relationships or concerted party status among the aforementioned shareholders[9] Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Shareholding The company had no preferred shareholders during the reporting period - The company has no preferred shareholders[9] Changes in Restricted Shares There were no changes in restricted shares during the company's reporting period - There were no changes in restricted shares during the company's reporting period[10] Other Important Matters](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E9%87%8D%E8%A6%81%E4%BA%8B%E9%A1%B9) - The company had no other important matters during the reporting period[11] Quarterly Financial Statements](index=4&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) Financial Statements This section provides the company's consolidated balance sheet as of September 30, 2024, and the consolidated income statement and cash flow statement for the year-to-date period, detailing its financial position, operating results, and cash flow Consolidated Balance Sheet As of September 30, 2024, the company's total assets were CNY 2.731 billion, a 5.58% decrease from the beginning of the year; equity attributable to parent company shareholders was CNY 1.894 billion, a 3.51% increase from the beginning of the year, with both current and non-current liabilities showing significant decreases Consolidated Balance Sheet Key Data (Unit: CNY) | Item | September 30, 2024 | January 1, 2024 | Change Rate | | :------------------------------------ | :----------------- | :----------------- | :---------- | | Total Assets | 2,730,748,164.71 | 2,892,024,073.44 | -5.58% | | Total Current Assets | 1,852,125,815.34 | 1,934,083,308.87 | -4.24% | | Total Non-current Assets | 878,622,349.37 | 957,940,764.57 | -8.28% | | Total Liabilities | 785,638,996.14 | 1,014,712,405.24 | -22.57% | | Total Current Liabilities | 666,381,140.60 | 816,358,394.95 | -18.37% | | Total Non-current Liabilities | 119,257,855.54 | 198,354,010.29 | -39.88% | | Total Equity Attributable to Parent Company Shareholders | 1,894,347,600.68 | 1,830,123,422.31 | 3.51% | | Total Equity | 1,945,109,168.57 | 1,877,311,668.20 | 3.61% | Consolidated Income Statement Year-to-Date As of September 30, 2024, the company's total operating revenue was CNY 601.15 million, a 22.25% year-on-year decrease; net profit attributable to parent company shareholders was CNY 84.5255 million, a 16.61% year-on-year decrease, with financial expenses and credit impairment losses significantly reduced Consolidated Income Statement Key Data (Year-to-Date, Unit: CNY) | Item | Amount for This Period | Amount for Prior Period | Year-on-Year Change | | :------------------------------------------------------- | :--------------------- | :---------------------- | :------------------ | | Total Operating Revenue | 601,150,250.15 | 773,192,368.41 | -22.25% | | Total Operating Costs | 529,246,145.05 | 670,857,147.76 | -21.00% | | Financial Expenses | 1,133,181.23 | 5,663,207.29 | -79.99% | | Investment Income | 7,247,865.81 | 6,044,936.33 | 19.90% | | Fair Value Change Gains | 7,227,046.94 | 16,945,524.12 | -57.35% | | Credit Impairment Losses | -5,660,369.16 | -29,007,176.71 | 80.49% | | Asset Impairment Losses | 4,764,132.13 | -1,199,933.31 | 497.03% | | Operating Profit | 99,063,520.43 | 109,479,493.07 | -9.51% | | Total Profit | 99,124,225.26 | 109,420,811.15 | -9.39% | | Net Profit | 88,098,800.37 | 97,482,101.89 | -9.62% | | Net Profit Attributable to Parent Company Shareholders | 84,525,478.37 | 101,361,134.36 | -16.61% | | Basic Earnings Per Share (CNY/share) | 0.1249 | 0.1498 | -16.62% | Consolidated Cash Flow Statement Year-to-Date As of September 30, 2024, net cash flow from operating activities was CNY 147.9625 million, a 758.54% year-on-year increase; net cash flow from investing activities was CNY 38.6558 million, a 78.96% year-on-year decrease; and net cash flow from financing activities was CNY -185.5597 million, a 527.47% year-on-year decrease, primarily due to loan repayments Consolidated Cash Flow Statement Key Data (Year-to-Date, Unit: CNY) | Item | Amount for This Period | Amount for Prior Period | Year-on-Year Change | | :-------------------------------------------- | :--------------------- | :---------------------- | :------------------ | | Subtotal of Cash Inflows from Operating Activities | 694,363,176.82 | 630,201,401.59 | 10.18% | | Subtotal of Cash Outflows from Operating Activities | 546,400,659.64 | 652,669,601.74 | -16.30% | | Net Cash Flow from Operating Activities | 147,962,517.18 | -22,468,200.15 | 758.54% | | Subtotal of Cash Inflows from Investing Activities | 1,463,230,679.81 | 983,319,406.74 | 48.82% | | Subtotal of Cash Outflows from Investing Activities | 1,424,574,923.30 | 799,590,928.58 | 78.17% | | Net Cash Flow from Investing Activities | 38,655,756.51 | 183,728,478.16 | -78.96% | | Subtotal of Cash Inflows from Financing Activities | 2,000,000.00 | 148,500,000.00 | -98.65% | | Subtotal of Cash Outflows from Financing Activities | 187,559,707.05 | 178,072,572.24 | 5.33% | | Net Cash Flow from Financing Activities | -185,559,707.05 | -29,572,572.24 | -527.47% | | Net Increase in Cash and Cash Equivalents | 1,121,951.10 | 131,687,705.77 | -99.15% | First-time Adoption of New Accounting Standards in 2023: Adjustments to Financial Statement Items at the Beginning of the First-time Adoption Year The company did not experience any adjustments to financial statement items at the beginning of the first-time adoption year due to the first-time adoption of new accounting standards in 2023 - The company did not experience any adjustments to financial statement items at the beginning of the first-time adoption year due to the first-time adoption of new accounting standards in 2023[17] Audit Report The company's 2024 third-quarter report is unaudited - The company's third-quarter report is unaudited[17]