2025-10-29 13:10Financial Performance - Q3 2025 revenue was CNY 6,563,902,000, a decrease of 13.98% compared to the same period last year[5] - Net profit attributable to shareholders was CNY 1,018,039,000, down 38.19% year-on-year[5] - Basic earnings per share decreased by 37.73% to CNY 0.1218[5] - Operating revenue fell by 17.29% to ¥22,220,920,493.97, impacted by the disposal of thermal power division income and a decrease in average wind power utilization hours[14] - Total operating revenue for the current period was ¥22,220,920,493.97, a decrease of 17.5% compared to ¥26,866,893,142.95 in the previous period[30] - The company's operating profit decreased to CNY 6.30 billion from CNY 7.64 billion, representing a decline of approximately 17.6% year-over-year[31] - Net profit attributable to shareholders decreased to CNY 4.39 billion from CNY 5.56 billion, a decrease of about 21.0%[31] - Total comprehensive income for the period was CNY 5.18 billion, down from CNY 6.21 billion, reflecting a decrease of about 16.6%[31] Assets and Liabilities - Total assets at the end of the reporting period were CNY 262,521,257,360.16, an increase of 1.99% from the end of the previous year[5] - Long-term liabilities due within one year increased by 48.88% to ¥13,627,420,305.02, attributed to the rise in long-term borrowings due[12] - The company issued multiple medium-term notes, resulting in a 82.32% increase in bonds payable to ¥29,167,564,465.70[12] - Total liabilities increased slightly to ¥172,945,998,622.52 from ¥171,162,823,003.61, reflecting a growth of 1.0%[29] - The company's total equity rose to ¥89,575,258,737.64 from ¥86,225,209,003.42, an increase of 2.7%[30] Cash Flow - Cash flow from operating activities for the year-to-date was CNY 15,783,850,000, an increase of 53.33% compared to the same period last year[5] - Net cash flow from operating activities increased by 53.33% to ¥15,783,858,718.20, driven by a significant rise in renewable energy subsidies received[16] - The company reported a net cash outflow from investing activities of CNY 17.78 billion, compared to a net outflow of CNY 16.94 billion in the previous period[33] - Cash and cash equivalents decreased by 44.53% to ¥1,825,871,776.87, primarily due to investments in fixed assets and intangible assets[11] - Cash and cash equivalents at the end of the period decreased to CNY 1.57 billion from CNY 3.58 billion, a decline of approximately 56.1%[33] Investments and Expenditures - Development expenditures rose by 35.07% to ¥358,474,200.33, reflecting ongoing investments in key technology research projects[11] - Investment income dropped by 83.83% to ¥109,027,811.82, due to the lack of significant investment events and reduced income from joint ventures[14] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 34,238, with the largest shareholder holding 55.05% of the shares[18] Capacity and Generation - As of September 30, 2025, the total installed capacity of the group reached 43,417.39 MW, representing a 17.31% increase from 37,010.40 MW in the previous year[22] - The wind power installed capacity increased by 11.14% to 31,543.47 MW compared to 28,380.64 MW a year earlier[22] - The photovoltaic installed capacity rose by 49.59% to 11,867.82 MW from 7,933.66 MW in the previous year[23] - The total power generation for the group was 56,546,706 MWh, a slight decrease of 0.53% year-on-year, but a 13.81% increase when excluding thermal power impacts[24] - Wind power generation increased by 5.30% to 46,187,944 MWh compared to 43,861,535 MWh in the previous year[25] - Photovoltaic power generation surged by 77.98% to 10,354,443 MWh from 5,817,665 MWh in the previous year[26] - The group added 2,274.19 MW of new renewable energy capacity in the first nine months of 2025, including 1,134.70 MW of wind and 1,169.49 MW of solar[20] - The group reported a 333.33% increase in installed capacity in Qinghai, reaching 650 MW compared to 150 MW a year earlier[23] - The group’s installed capacity for other renewable energy sources decreased by 83.10% to 6.10 MW from 36.10 MW in the previous year[23] Other Financial Metrics - The company experienced a decrease in net profit margin, with a weighted average return on equity of 1.35% for the current period[5] - Research and development expenses decreased to ¥78,771,412.34 from ¥105,423,410.32, a decline of 25.3%[30] - The company reported a decrease in other comprehensive income, with a net amount of CNY -2.99 million compared to CNY -105.32 million in the previous period[31]