Sany Renewable Energy (SH:688349)2025-10-30 11:10Financial Performance - The company's operating revenue for the third quarter reached CNY 5,856,929 thousand, representing a year-on-year increase of 54.64%[4] - The total profit for the quarter was CNY -204,136 thousand, a decline of 184.50% compared to the same period last year[4] - The net profit attributable to shareholders was CNY -88,275 thousand, down 135.13% year-on-year[4] - The basic earnings per share for the quarter was CNY -0.0728, down 135.19% compared to the same period last year[4] - Net profit for the first three quarters of 2025 was CNY 121,824 thousand, a decrease from CNY 684,844 thousand in 2024, reflecting a decline of approximately 82.2%[20] - The company reported a basic earnings per share of CNY 0.1005 for the first three quarters of 2025, down from CNY 0.5707 in the same period of 2024[21] Cash Flow - The net cash flow from operating activities was CNY -74,017 thousand, an increase of 81.59% compared to the previous year[4] - The net cash flow from operating activities for the first three quarters of 2025 was -CNY 1,169,622 thousand, an improvement compared to -CNY 3,209,590 thousand in 2024[23] - Cash inflow from investment activities in the first three quarters of 2025 totaled CNY 1,913,753 thousand, compared to CNY 740,784 thousand in 2024, marking an increase of about 158.5%[23] - Cash outflow from investment activities for the first three quarters of 2025 was CNY 5,610,264 thousand, up from CNY 4,777,538 thousand in 2024, indicating an increase of approximately 17.4%[23] - Cash and cash equivalents at the end of the period were 4,615,552 thousand, slightly down from 4,616,993 thousand[25] - The net increase in cash and cash equivalents was -5,537,825 thousand, compared to -6,358,370 thousand in the prior period[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 45,206,955 thousand, reflecting a 9.19% increase from the end of the previous year[5] - The company's current assets totaled RMB 32,194,681 thousand, up from RMB 29,406,463 thousand, indicating an increase of about 9.6%[15] - The company's total liabilities increased to RMB 30,306,558 thousand from RMB 24,553,637 thousand, marking a growth of around 23.4%[16] - The total liabilities as of the end of the reporting period were CNY 31,933,733 thousand, an increase from CNY 27,679,633 thousand in the previous year, representing a growth of about 15.4%[17] - The total equity attributable to shareholders was CNY 13,273,219 thousand, a decrease from CNY 13,723,674 thousand in the previous year, reflecting a decline of approximately 3.3%[17] Shareholder Information - The company has a total of 12,514 common shareholders as of the report date[12] - The top shareholder, Liang Wengen, holds 45.73% of the shares, with a total of 560,874,900 shares[12] Operational Challenges - The company experienced a significant decline in profit due to lower wind turbine bidding prices and the impact of low-margin orders expected to be delivered in 2025[9] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -112,397 thousand, a decrease of 150.26% year-on-year[10] Research and Development - Research and development expenses totaled CNY 212,534 thousand, accounting for 3.63% of operating revenue, a decrease of 1.06 percentage points year-on-year[5] Accounting Standards - The company will not apply new accounting standards starting from 2025[26]