GDPD(SH:600795)2014-10-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 4.73% to CNY 5.12 billion for the first nine months of the year[7] - Operating revenue for the first nine months decreased by 6.33% to CNY 46.24 billion compared to the same period last year[7] - The total profit for the first nine months increased by 1.02%, primarily due to a decrease in costs in the thermal power sector[9] - Basic earnings per share decreased by 5.77% to CNY 0.294[9] - Net profit for the first nine months of 2014 was CNY 9.39 billion, slightly up from CNY 9.30 billion in the same period last year, reflecting a growth of about 1.0%[50] - The company's net profit for Q3 2014 was approximately CNY 2.89 billion, a decrease from CNY 3.28 billion in the same period last year, representing a decline of about 12.5%[51] - Basic earnings per share (EPS) for Q3 2014 was CNY 0.124, down from CNY 0.129 in Q3 2013, reflecting a decrease of approximately 3.9%[51] Cash Flow - The net cash flow from operating activities decreased by 11.64% to CNY 19.22 billion for the first nine months[7] - Cash flow from operating activities for the first nine months of 2014 was CNY 19.22 billion, down from CNY 21.75 billion in the same period last year, a decrease of about 11.6%[58] - Total cash inflow from operating activities was 3,956,790,651.03 RMB, down from 5,326,924,896.24 RMB year-on-year, indicating a decline in operational performance[61] - The ending balance of cash and cash equivalents was 270,121,018.20 RMB, down from 684,894,173.62 RMB in the same period last year, reflecting a decrease in liquidity[62] Assets and Liabilities - Total assets decreased by 3.00% to CNY 233.46 billion compared to the end of the previous year[7] - As of September 30, 2014, the total assets of the company amounted to CNY 233,456,707,980.40, a decrease from CNY 240,686,935,258.84 at the beginning of the year[42] - The total liabilities decreased to CNY 173,408,245,314.12 from CNY 181,969,782,113.75, indicating a reduction of about 4.3%[42] - The company's total equity increased to CNY 60,048,462,666.28 from CNY 58,717,153,145.09, reflecting a growth of about 2.3%[42] Receivables and Inventory - Accounts receivable decreased by 20.80% to ¥983,940,374.04, mainly due to reduced sales revenue settled by notes from subsidiaries[16] - Other receivables decreased by 45.28% to ¥648,880,010.82, primarily due to the recovery of financing lease payments by a subsidiary[16] - The company's inventory decreased to CNY 2,343,548,876.93 from CNY 2,496,092,897.89, a decline of approximately 6.1%[40] Investment Activities - The company's investment activities generated a net cash flow of -¥12,814,813,909.03, a decrease of 34.11% compared to the previous period, mainly due to lower fixed asset investments by subsidiaries[20] - Total cash inflow from investment activities reached 4,905,763,267.56 RMB, up from 2,183,036,047.74 RMB year-on-year, reflecting a strong increase in investment returns[62] - The net cash flow from investment activities was 1,873,498,586.37 RMB, a substantial increase from 20,045,791.91 RMB in the previous year, reflecting a positive trend in investment recovery[62] Tax and Expenses - Income tax expenses increased by 28.13% due to the recovery of previous losses and changes in tax policies[10] - Sales expenses decreased by 43.70% to ¥27,836,695.56, primarily due to cost control measures by a subsidiary[21] - Total operating costs decreased to CNY 12.55 billion from CNY 14.13 billion year-over-year, a reduction of approximately 11.2%[49] Strategic Plans - The company plans to integrate its thermal and hydropower business through asset acquisitions and restructuring over the next five years[22] - The company plans to focus on market expansion and new product development in the upcoming quarters[48]