2025-10-30 09:30Financial Performance - The company's operating revenue for the third quarter was CNY 176.86 billion, a decrease of 1.30% year-on-year, and the year-to-date revenue reached CNY 513.92 billion, down 4.23% compared to the previous year[2] - The total profit for the third quarter was CNY 6.59 billion, reflecting an 11.71% decline year-on-year, while the year-to-date profit totaled CNY 22.79 billion, down 10.92%[2] - The net profit attributable to shareholders for the third quarter was CNY 4.08 billion, a decrease of 16.34% year-on-year, with a year-to-date net profit of CNY 13.65 billion, down 16.14%[2] - Total revenue for the first three quarters of 2025 was CNY 513.92 billion, a decrease of 4.26% compared to CNY 536.64 billion in the same period of 2024[31] - Net profit for the first three quarters of 2025 was CNY 18.21 billion, a decline of 13.4% from CNY 20.99 billion in 2024[31] Cash Flow and Liquidity - The company achieved a net cash flow from operating activities of CNY 11.51 billion in the third quarter, with a year-to-date net outflow of CNY 65.79 billion[2] - In the first three quarters of 2025, the net cash flow from operating activities was -65.79 billion RMB, an improvement from -77.03 billion RMB in the same period of 2024, indicating a 14.5% reduction in cash outflow[34] - Cash flow from operating activities showed a net outflow of ¥1.19 billion, an improvement from a net outflow of ¥19.99 billion in the same period last year[39] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,039.67 billion, an increase of 9.76% compared to the end of the previous year[3] - Total liabilities increased to CNY 1.55 trillion as of September 30, 2025, up 11.77% from CNY 1.39 trillion at the end of 2024[29] - The company's total assets as of September 30, 2025, reached CNY 2.04 trillion, an increase of 9.76% from CNY 1.86 trillion at the end of 2024[28] - The company's total liabilities increased to 160.18 billion RMB from 146.64 billion RMB, representing a 9.2% rise[36] Shareholder Equity - The equity attributable to shareholders at the end of the reporting period was CNY 329.62 billion, up 5.17% from the previous year-end[3] - The company's total equity reached CNY 485.43 billion as of September 30, 2025, an increase of 3.30% from CNY 467.81 billion at the end of 2024[29] - The company's equity increased to 157.56 billion RMB as of September 30, 2025, compared to 145.90 billion RMB at the end of 2024, marking an 8.0% increase[36] Contracts and Revenue Generation - In the first nine months of 2025, the company signed new contracts amounting to CNY 1,339.97 billion, a year-on-year increase of 4.65%, achieving 67% of the annual target of CNY 1,881.19 billion[14] - The new contracts from overseas regions totaled CNY 284.06 billion (approximately USD 39.93 billion), representing a year-on-year growth of 7.13%, accounting for 21% of the total new contracts[16] - The total new contracts in energy engineering projects amounted to CNY 79.48 billion, marking an impressive year-on-year growth of 80.60%[19] - The total new contracts for the company in the third quarter of 2025 were CNY 348.92 billion, contributing to the cumulative total of CNY 1,339.97 billion for the year[21] Investment and Innovation - The company issued a total of CNY 20 billion in technology innovation bonds with a 1.74% interest rate, maturing in 2027[23] - The company also issued CNY 10 billion in technology innovation bonds with a 1.80% interest rate, maturing in 2028[24] - The company received ¥15.5 billion from investment absorption, a substantial increase compared to ¥83.24 million in the same period of 2024[39] - Research and development expenses increased to ¥103.14 million, up from ¥88.92 million, indicating a focus on innovation[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 167,178, with 156,002 holding A shares and 11,176 holding H shares[9] - The company repurchased 9,715,200 A shares, accounting for approximately 0.39% of the free-floating A shares[8] Profitability Metrics - The gross profit margin for the third quarter was 11.04%, a decrease of 0.50 percentage points year-on-year, while the quarterly gross profit margin was 11.80%, an increase of 0.50 percentage points year-on-year[6] - The company reported a basic earnings per share of CNY 0.79 for the first three quarters of 2025, down from CNY 0.94 in 2024[32] - The company reported a significant increase in investment income, totaling ¥8.85 billion, compared to ¥6.83 billion in the previous year, marking a 29.6% growth[38] Financial Adjustments - The company experienced a decrease in financial expenses, which totaled ¥745.33 million, down from ¥768.00 million in the previous year[38] - The company did not apply new accounting standards for the year 2025[40]