pingmei coal(601666)2024-10-25 09:22Revenue and Profit Performance - Revenue for the third quarter was RMB 7.008 billion, a decrease of 1.90% compared to the same period last year[2] - Net profit attributable to shareholders of the listed company was RMB 652.33 million, a decrease of 27.89% year-on-year[3] - Net profit attributable to shareholders decreased by 27.89% YoY due to a decline in coal sales volume and price[6] - Total revenue for the first three quarters of 2024 reached 23.32 billion RMB, a slight increase from 23.14 billion RMB in the same period of 2023[15] - Total revenue for the first three quarters of 2024 reached RMB 28,441,597,708.40, compared to RMB 26,442,606,221.42 in the same period of 2023[20] - Revenue for the first three quarters of 2024 was RMB 20,440,711,565.87, a slight decrease of 0.96% compared to RMB 20,639,546,024.28 in the same period of 2023[25] - Net profit for the first three quarters of 2024 was RMB 2,162,910,170.63, down 23.97% from RMB 2,844,594,745.10 in the same period of 2023[25] - Net profit attributable to the parent company's shareholders for Q3 2024 was RMB 2,044,953,019.40, down from RMB 3,141,821,967.41 in Q3 2023[19] - The company's comprehensive income for the first three quarters of 2024 was RMB 2,162,910,170.63, down 23.97% from RMB 2,844,594,745.10 in the same period of 2023[26] Cash Flow and Financial Activities - Net cash flow from operating activities for the first three quarters was RMB 5.998 billion, a decrease of 13.12% compared to the same period last year[3] - Cash flow from financing activities decreased by 787.94% YoY, primarily due to reduced borrowing[8] - Net cash flow from operating activities for the first three quarters of 2024 was RMB 5,998,411,667.15, a decrease from RMB 6,904,756,310.04 in the same period of 2023[20] - Operating cash flow for the first three quarters of 2024 was RMB 5,783,353,069.95, a decrease of 23.77% compared to RMB 7,586,826,919.06 in the same period of 2023[27] - Investment cash flow for the first three quarters of 2024 was negative RMB 3,719,783,333.65, a 5.75% increase in outflow compared to negative RMB 3,517,637,780.92 in the same period of 2023[28] - Financing cash flow for the first three quarters of 2024 was negative RMB 5,188,346,820.87, a significant decrease from positive RMB 7,484,411.76 in the same period of 2023[28] - Cash received from selling goods and providing services in the first three quarters of 2024 was RMB 28,441,597,708.40, up from RMB 26,442,606,221.42 in the same period of 2023[20] - Cash paid for the purchase of goods and services in the first three quarters of 2024 was RMB 11,879,445,403.19, up from RMB 8,458,897,190.44 in the same period of 2023[20] - Investment activities cash outflow totaled 10.27 billion yuan, a decrease of 2.39 billion yuan compared to the previous period[21] - Financing activities cash inflow was 14.76 billion yuan, a decrease of 2.79 billion yuan compared to the previous period[21] - Net cash flow from financing activities was -5.50 billion yuan, a significant decrease from the previous period's 799.34 million yuan[21] Assets and Liabilities - Total assets at the end of the reporting period were RMB 73.829 billion, a decrease of 5.38% compared to the end of the previous year[3] - The company's total assets as of Q3 2024 stood at 73.83 billion RMB, compared to 78.03 billion RMB at the end of 2023[14] - Total liabilities decreased to 43.26 billion RMB in Q3 2024 from 48.78 billion RMB at the end of 2023[14] - Shareholders' equity increased to 30.57 billion RMB in Q3 2024 from 29.25 billion RMB at the end of 2023[14] - Total assets decreased to 70.36 billion yuan from 73.68 billion yuan at the beginning of the year[22] - Total liabilities decreased to 43.17 billion yuan from 47.73 billion yuan at the beginning of the year[23] - Owner's equity increased to 27.19 billion yuan from 25.95 billion yuan at the beginning of the year[23] - Fixed assets decreased to 37.63 billion RMB in Q3 2024 from 39.52 billion RMB at the end of 2023[12] - Fixed assets decreased to 30.36 billion yuan from 31.78 billion yuan at the beginning of the year[22] - Long-term equity investments increased to 7.02 billion yuan from 6.83 billion yuan at the beginning of the year[22] - Short-term borrowings decreased to 5.19 billion yuan from 5.52 billion yuan at the beginning of the year[23] - Short-term borrowings decreased to 5.19 billion RMB in Q3 2024 from 5.53 billion RMB at the end of 2023[13] Earnings and Shareholder Information - Basic earnings per share for the third quarter were RMB 0.2682, a decrease of 31.37% year-on-year[3] - Basic earnings per share (EPS) dropped by 31.37% YoY, also impacted by lower coal sales[6] - Basic earnings per share (EPS) for Q3 2024 was RMB 0.8406, compared to RMB 1.3571 in Q3 2023[19] - The weighted average return on equity (ROE) for the third quarter was 2.32%, a decrease of 1.59 percentage points year-on-year[3] - The number of ordinary shareholders at the end of the reporting period was 68,500[9] - China Pingmei Shenma Holding Group Co., Ltd. holds 44.21% of the company's shares[9] - Rui Zhong Life Insurance Co., Ltd. holds 3.34% of the company's shares[9] Expenses and Costs - Total operating costs for the first three quarters of 2024 were 20.41 billion RMB, up from 18.92 billion RMB in the same period of 2023[15] - R&D expenses increased to RMB 592,117,932.14 in Q3 2024, up from RMB 394,307,921.42 in Q3 2023[17] - Sales expenses decreased to RMB 156,586,838.35 in Q3 2024, down from RMB 167,929,403.04 in Q3 2023[17] - R&D expenses for the first three quarters of 2024 increased by 48.38% to RMB 503,639,111.60 compared to RMB 339,406,618.68 in the same period of 2023[25] - Management expenses for the first three quarters of 2024 rose by 62.48% to RMB 671,042,290.64 compared to RMB 413,005,081.30 in the same period of 2023[25] - Interest expenses for the first three quarters of 2024 decreased by 7.93% to RMB 938,242,584.04 compared to RMB 1,019,079,848.06 in the same period of 2023[25] - Income tax expenses for Q3 2024 were RMB 832,922,166.83, compared to RMB 1,095,131,597.94 in Q3 2023[17] Non-Recurring Items and Other Financial Data - Non-recurring gains and losses for the period amounted to RMB 13.012 million, primarily due to government subsidies and asset disposal gains[4] - The company completed the absorption and merger of subsidiaries, including Pingmei Shenma Shou'an Clean Energy Co., Ltd., which impacted financial data[3] - Accounts receivable decreased by 11.75% YoY as some coal sales payments were collected[6] - Inventory increased by 38.00% YoY due to higher coal stockpiles[6] - Long-term loans increased by 34.40% YoY as banks provided more medium- and long-term loans[6] - Capital reserve surged by 142.12% YoY due to special reserve provisions[6] - Cash and cash equivalents decreased to 11.37 billion RMB in Q3 2024 from 14.35 billion RMB at the end of 2023[12] - Accounts receivable decreased to 2.90 billion RMB in Q3 2024 from 3.29 billion RMB at the end of 2023[12] - Inventory increased to 634.92 million RMB in Q3 2024 from 460.09 million RMB at the end of 2023[12] - Cash and cash equivalents at the end of the period were 5.82 billion yuan, a decrease of 3.44 billion yuan from the beginning of the period[21] - Total cash and cash equivalents at the end of Q3 2024 were RMB 5,714,654,368.91, a decrease of 46.55% compared to RMB 10,691,654,156.77 at the end of Q3 2023[28] Profit and Loss - Total profit for Q3 2024 was RMB 3,040,866,534.31, a decrease from RMB 4,444,782,102.52 in Q3 2023[17]