长源电力(000966) - 2025 Q3 - 季度财报

Financial Performance - Revenue for Q3 2025 was CNY 3,905,807,079.86, a decrease of 21.65% year-on-year[4] - Net profit attributable to shareholders was CNY 246,427,285.60, down 46.46% compared to the same period last year[4] - Basic earnings per share decreased by 57.71% to CNY 0.0708[4] - Total operating revenue for the current period was CNY 10,520.29 million, a decrease of 18.63% from CNY 12,931.36 million in the previous period[23] - The net profit for the current period is CNY 337,160,567.86, a decrease of 63.7% compared to CNY 927,346,642.87 in the previous period[24] - The operating profit for the current period is CNY 520,679,058.83, down from CNY 1,205,475,200.57, reflecting a decline of 56.7%[24] - The basic and diluted earnings per share for the current period are CNY 0.0980, compared to CNY 0.3303 in the previous period[25] Assets and Liabilities - Total assets at the end of the reporting period were CNY 40,730,203,200.45, an increase of 0.91% from the end of the previous year[4] - Total assets increased to CNY 40,730.20 million from CNY 40,362.47 million at the beginning of the period[22] - Total liabilities increased to CNY 26,585.71 million from CNY 26,398.99 million at the beginning of the period[22] - The company’s total liabilities increased by 70.88% in contract liabilities, reaching CNY 80,333,212.32, attributed to increased prepayments for sales[7] Cash Flow - Cash flow from operating activities for the first nine months of 2025 was CNY 2,852,916,001.40, a decrease of 16.74% year-on-year[4] - The net cash flow from operating activities is CNY 2,852,916,001.40, down 16.7% from CNY 3,426,503,387.32[27] - The total cash flow from investing activities is CNY -2,316,775,796.41, an improvement from CNY -3,529,981,933.14 in the previous period[27] - Net cash flow from investment activities was -¥2,316,775,796.41, an increase of 34.37% compared to the same period last year, mainly due to a decrease in cash paid for the acquisition of fixed assets[11] - Net cash flow from financing activities was -¥446,561,475.23, a decrease of 738.26% year-on-year, primarily due to a reduction in net borrowings and debt repayments[11] - The net increase in cash and cash equivalents for the period was ¥89,578,729.76, an increase of ¥246,329,905.3 compared to the previous year, mainly due to improved cash flow from investment activities[11] Research and Development - R&D expenses for the first nine months of 2025 were CNY 21,115,064.29, an increase of 130.38% year-on-year[9] - The research and development expenses increased to CNY 21,115,064.29, up from CNY 9,165,266.02, reflecting a growth of 130.5%[24] Shareholder Information - The total number of common shareholders at the end of the reporting period was 106,198, with no preferred shareholders[14] - The largest shareholder, State Energy Investment Group, holds 59.62% of the shares, totaling 2,075,329,926 shares[14] - The company completed a capital increase, changing its registered capital from ¥2,749,327,699 to ¥3,481,035,016[16] Project Updates - The company signed a flue gas desulfurization and denitrification concession contract with a related party, with an estimated annual transaction amount of approximately CNY 240.48 million[17] - The final installed capacity of the 230MW agricultural-solar complementary photovoltaic project was adjusted from 230,000 kW to 171,000 kW, with total investment reduced from CNY 1,102.43 million to CNY 745.20 million[18] - The final installed capacity of the 200MW fish-solar complementary photovoltaic project was adjusted from 200,000 kW to 170,000 kW, with total investment reduced from CNY 1,051.65 million to CNY 714.33 million[18] Tax and Other Income - Cash received from tax refunds for the period of January to September 2025 was ¥40,184,675.45, a decrease of 90.15% compared to the same period last year, primarily due to a reduction in VAT refunds received[11] - Cash received from other operating activities amounted to ¥221,092,703.25, an increase of 97.69% year-on-year, mainly due to an increase in inter-company receivables[11] - Total tax expenses for the current period are CNY 185,772,444.15, down from CNY 286,782,982.70, a decrease of 35.2%[24]