SDIC Power(SH:600886)2015-10-29 16:00Financial Performance - Operating revenue decreased by 4.47% to CNY 24.39 billion for the first nine months compared to the same period last year[6] - Net profit attributable to shareholders decreased by 2.27% to CNY 4.54 billion for the first nine months compared to the same period last year[6] - Basic earnings per share decreased by 2.28% to CNY 0.6684[7] - Total revenue for Q3 2015 was approximately ¥9.46 billion, a decrease of 13.2% compared to ¥10.91 billion in the same period last year[27] - Operating income for the first nine months of 2015 was approximately ¥24.39 billion, down from ¥25.53 billion year-over-year, reflecting a decline of 4.5%[27] - The company reported a net profit of approximately ¥4.16 billion for Q3 2015, down 20.6% from ¥5.25 billion in the same quarter last year[29] - The net profit attributable to the parent company was approximately ¥4.54 billion, compared to ¥4.64 billion in the same period last year, indicating a decrease of about 2.3%[32] - Operating income for the first nine months of 2015 reached approximately ¥2.33 billion, a significant recovery from a loss of ¥71.59 million in the same period last year[34] - The company reported an investment income of approximately ¥2.60 billion for the first nine months, up from ¥224.58 million in the previous year[34] - The total comprehensive income for Q3 2015 was approximately ¥151.05 million, compared to ¥111.05 million in the same period last year, reflecting an increase of about 36%[35] Assets and Liabilities - Total assets increased by 3.45% to CNY 178.57 billion compared to the end of the previous year[6] - Net assets attributable to shareholders increased by 11.05% to CNY 25.68 billion compared to the end of the previous year[6] - The company's current assets totaled ¥16.81 billion, up from ¥14.46 billion at the start of the year, indicating a growth of about 16.3%[19] - The total liabilities of the company were reported at ¥130.36 billion, slightly up from ¥129.90 billion, showing a marginal increase of about 0.4%[21] - The company's equity attributable to shareholders increased to ¥25.68 billion from ¥23.12 billion, reflecting a growth of approximately 11%[21] - Accounts receivable increased by 36% compared to the beginning of the year due to increased electricity revenue during the flood season[10] - Accounts payable at the end of the period increased by 33% compared to the beginning of the year, mainly due to the increase in unpaid engineering equipment payments from Guotou Xuancheng, Guotou Beijiang, and Guotou Qinzhou[11] - Taxes payable at the end of the period increased by 594% compared to the beginning of the year, primarily due to a significant increase in electricity generation during the flood season at Yalong River Hydropower, leading to a substantial rise in payable turnover tax and income tax[11] - Dividends payable at the end of the period increased by 558% compared to the beginning of the year, mainly because the dividend payments for Yalong River Hydropower were not fully paid during the period[11] - Other current liabilities at the end of the period increased by 74% compared to the beginning of the year, primarily due to the growth in the scale of short-term financing bonds[11] Cash Flow - Net cash flow from operating activities increased by 7.52% to CNY 16.76 billion for the first nine months compared to the same period last year[6] - Cash received from tax refunds increased by 145% compared to the same period last year, mainly due to the receipt of value-added tax refunds for hydropower, which was not present in the previous year's first quarter[11] - Cash received from other operating activities increased by 49% compared to the same period last year, mainly due to the recovery of dividend tax and rental fees for the booster station from new energy projects[11] - Cash inflow from investment activities decreased by 38% compared to the same period last year, primarily due to the disposal of Qujing Power Plant and Zhangjiakou Wind Power in the previous period, as well as the recovery of entrusted loans and equity transfer payments[11] - Net cash flow from financing activities decreased by 469% compared to the same period last year, mainly due to the repayment of large due debts by Yalong River Hydropower[11] - The total cash and cash equivalents at the end of the period stood at CNY 1,592,601,610.26, down from CNY 993,164,085.68 in the previous year, reflecting a decrease of approximately 19.80%[41] - The company received CNY 2,727,837,700.00 from investment activities, a substantial increase from CNY 118,000,000.00 in the previous year, marking a growth of over 2,200%[38] - The cash received from tax refunds increased to CNY 917,021,178.90, compared to CNY 374,837,202.23 in the previous year, representing a growth of approximately 144.50%[37] - The company paid CNY 4,367,793,928.53 in taxes, up from CNY 3,643,456,763.43, which is an increase of about 19.93% year-over-year[38] Future Plans and Strategies - The company plans to inject independent power generation assets into the public company over the next five years through mergers and acquisitions and restructuring[16] - The company aims to develop a specific operational plan for power asset integration based on asset conditions and market recognition[16] - The company plans to focus on market expansion and new product development in the upcoming quarters to drive growth[27] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[32]