SCIE(SH:600546)2024-10-25 09:15Financial Performance - The company's operating revenue for Q3 2024 was approximately CNY 7.91 billion, a decrease of 3.84% compared to CNY 8.22 billion in the same period last year[3]. - Net profit attributable to shareholders was approximately CNY 791.09 million, down 13.56% from CNY 924.22 million year-on-year[3]. - The net profit after deducting non-recurring gains and losses was approximately CNY 806.50 million, a decrease of 14.68% compared to CNY 945.27 million in the previous year[3]. - The basic earnings per share for the period was CNY 0.40, down 13.04% from CNY 0.47 in the same period last year[3]. - The weighted average return on equity decreased to 4.89%, down 1.17 percentage points from 6.10% year-on-year[3]. - The company experienced a 47.91% decrease in net profit attributable to shareholders from the beginning of the year to the end of the reporting period, primarily due to a decline in coal prices and production volume[6]. - The company reported a 27.88% decrease in net cash flow from operating activities year-to-date, attributed to falling coal prices and reduced production and sales[6]. - Total operating revenue for the first three quarters of 2024 was CNY 21.96 billion, a decrease of 23.9% compared to CNY 28.90 billion in the same period of 2023[15]. - Net profit for the first three quarters of 2024 was CNY 3.00 billion, a decline of 52.0% compared to CNY 6.26 billion in 2023[16]. - Basic earnings per share for the first three quarters of 2024 were CNY 1.05, down from CNY 2.02 in the same period of 2023[16]. - Total profit for the first three quarters of 2024 was CNY 4.27 billion, a decrease of 50.1% compared to CNY 8.52 billion in 2023[16]. - Tax expenses for the first three quarters of 2024 were CNY 1.27 billion, down 44.1% from CNY 2.27 billion in the same period of 2023[16]. Revenue and Sales - The company reported coal production revenue of 12.733 billion RMB, a year-on-year decrease of 33.03%[10]. - The company's coal trading revenue was 8.794 billion RMB, a year-on-year decrease of 6.71%, with a trading volume of 14.2892 million tons[10]. - The sales volume in Q3 2024 was 537.58 million tons, an increase of 5.82% compared to the previous quarter[11]. - Cash received from sales of goods and services was CNY 26.08 billion, down 21.3% from CNY 33.12 billion in 2023[17]. Production and Operations - The raw coal output was 24.503 million tons, down 18.72% year-on-year, while self-produced coal sales were 18.821 million tons, a decrease of 30.18%[10]. - In Q3 2024, the company's coal production and sales indicators showed a quarter-on-quarter improvement, with a production increase of 15.96% compared to Q2 2024[10]. - The average selling price of coal was 676.52 RMB per ton, with a cost of 292.78 RMB per ton[10]. - The gross profit margin for Q3 2024 improved to 59.36%, an increase of 2.67 percentage points compared to Q2 2024[10]. - The company faced a challenging external environment but noted improvements in production demand indicators in September 2024[10]. Assets and Liabilities - Total assets at the end of the reporting period were approximately CNY 40.62 billion, an increase of 7.10% compared to the previous year[3]. - Current assets totaled ¥11,507,884,885.33 as of September 30, 2024, compared to ¥8,500,176,452.47 at the end of 2023, indicating significant growth[12]. - Long-term borrowings rose to ¥8,499,490,105.94, up from ¥4,651,242,638.52 in the previous period[14]. - Total liabilities increased to ¥23,162,059,361.59 from ¥20,085,327,228.81, reflecting a rise in financial obligations[14]. - The company's total assets reached ¥43,502,182,534.03, compared to ¥40,617,227,413.35 at the end of 2023[13]. Research and Development - The company increased its R&D expenses by 17.97% year-to-date, reflecting a rise in investment in research projects[6]. - Research and development expenses increased to CNY 317.82 million, up 17.9% from CNY 269.40 million year-over-year[15]. Cash Flow and Financing - The net cash flow from financing activities was 425,165,098.09 CNY, a significant improvement compared to the previous year's negative cash flow of -7,084,752,976.25 CNY[18]. - The total cash and cash equivalents at the end of the period increased to 6,567,224,370.68 CNY, up from 5,638,879,295.06 CNY in the previous year[18]. - Cash inflow from borrowing amounted to 3,902,437,252.22 CNY, compared to 2,215,025,106.03 CNY in the same period last year, indicating a 76% increase[18]. - Cash outflow for debt repayment was 253,300,000.00 CNY, significantly lower than the previous year's 2,953,150,000.00 CNY[18]. - The net cash flow from investment activities was -1,466,123,551.96 CNY, slightly worse than -1,308,617,636.54 CNY in the previous year[18]. - The total cash outflow from financing activities was 3,477,272,154.13 CNY, down from 9,299,778,082.28 CNY in the previous year, showing a reduction of approximately 63%[18]. - The company reported a net increase in cash and cash equivalents of 2,551,103,866.73 CNY, contrasting with a decrease of -3,412,541,307.60 CNY in the previous year[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,168[7]. - The largest shareholder, Shanxi Coal Import and Export Group Co., Ltd., held 1,148,006,282 shares, accounting for 57.91% of the total shares[7]. Economic Context - The total domestic GDP for the first three quarters was 94.9746 trillion RMB, with a year-on-year growth of 4.8%[10]. Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2024[19].