2025-10-30 09:25Financial Performance - Total operating revenue for Q3 2025 reached ¥17,370,560,727.67, an increase of 20.69% compared to the same period last year[5] - Net profit attributable to shareholders was ¥1,056,654,945.80, reflecting a year-on-year growth of 13.22%[5] - The company reported a total profit of ¥1,231,272,611.58 for the quarter, up 19.13% from the previous year[5] - Total operating revenue for the first three quarters of 2025 reached ¥55.52 billion, an increase of 15.0% compared to ¥47.85 billion in the same period of 2024[22] - Operating profit for the first three quarters of 2025 was ¥3.73 billion, up from ¥3.13 billion in the first three quarters of 2024, reflecting a growth of 19.2%[22] - Net profit attributable to shareholders of the parent company for the first three quarters of 2025 was CNY 2,966,450,791.86, compared to CNY 2,624,741,556.01 in 2024, reflecting an increase of about 13.0%[23] - The company reported a total comprehensive income of CNY 3,171,953,056.96 for the first three quarters of 2025, compared to CNY 2,839,137,342.49 in 2024, reflecting an increase of about 11.7%[23] Cash Flow - Cash flow from operating activities showed a net outflow of ¥3,147,913,308.98, indicating a significant cash flow challenge[6] - Cash flow from operating activities decreased by 161.30%, attributed to increased project investments and cash outflows[11] - Cash flow from operating activities for the first three quarters of 2025 was negative at CNY -3,704,379,737.92, a significant decline compared to a positive cash flow of CNY 6,043,443,426.83 in 2024[26] - Cash inflow from operating activities for the first three quarters of 2025 was approximately $4.95 billion, a decrease of 7.1% compared to $5.33 billion in the same period of 2024[34] - Net cash flow from operating activities was negative at approximately -$619.38 million for 2025, improving from -$1.21 billion in 2024[34] Assets and Liabilities - Total assets increased by 15.88% year-on-year, reaching ¥164,561,031,620.58[6] - Current assets totaled ¥115.26 billion as of September 30, 2025, compared to ¥93.78 billion at the end of 2024, representing a 23.0% increase[18] - Total liabilities amounted to ¥117.28 billion as of September 30, 2025, compared to ¥98.87 billion at the end of 2024, indicating a growth of 18.5%[20] - The total assets of the company reached ¥164.56 billion as of September 30, 2025, compared to ¥142.01 billion at the end of 2024, representing a growth of 15.9%[19] - The total liabilities decreased slightly to CNY 13.35 billion as of September 30, 2025, from CNY 13.38 billion at the end of 2024, a decline of 0.2%[29] Equity and Earnings - The company's equity attributable to shareholders rose to ¥44,467,218,187.30, a 14.62% increase compared to the end of the previous year[6] - The equity attributable to shareholders increased to ¥44.47 billion from ¥38.80 billion, reflecting a rise of 14.3%[20] - Basic and diluted earnings per share for the first three quarters of 2025 were both CNY 0.90, up from CNY 0.84 in the same period of 2024, indicating a growth of 7.1%[24] Investments and Financing - Long-term borrowings increased by 150.59%, primarily due to project financing[11] - Cash flow from financing activities surged by 4,104.51%, primarily from increased capital contributions and borrowings[11] - Net cash flow from financing activities for the first three quarters of 2025 was CNY 7,070,729,597.60, a substantial increase from CNY 168,169,976.22 in 2024[26] - Cash inflow from financing activities surged to approximately $5.78 billion in 2025, compared to $605.24 million in 2024[34] - Net cash flow from financing activities was approximately $4.35 billion in 2025, a significant recovery from -$859.57 million in 2024[34] Inventory and Receivables - Significant growth in receivables financing by 66.10% was noted, primarily due to an increase in bank acceptance bills received[10] - Inventory levels increased by 56.05%, attributed to growth in product offerings[10] - Inventory increased significantly to ¥33.84 billion, up from ¥21.69 billion, marking a rise of 55.9%[18] - Long-term receivables surged by 316.14%, driven by an increase in installment sales[10] Research and Development - Research and development expenses for the first three quarters of 2025 were ¥2.23 billion, compared to ¥1.99 billion in the same period of 2024, an increase of 11.5%[22] - Research and development expenses decreased to CNY 72.91 million in the first three quarters of 2025, down from CNY 131.04 million in the same period of 2024, a reduction of 44.4%[31] Other Financial Metrics - The company completed a new H-share placement on September 24, 2025, increasing total shares from 3,390,360,326 to 3,458,360,326[16] - The company reported a total of 6,145.85 MW of power generation equipment produced in the first three quarters of 2025[16] - The company will implement new accounting standards starting in 2025, which may affect the financial statements[35]