GDEP(SH:600310)2023-10-24 16:00Financial Performance - The company's operating revenue for Q3 2023 was approximately ¥4.26 billion, a decrease of 35.69% compared to ¥6.63 billion in the same period last year[4]. - The net profit attributable to shareholders was approximately ¥17.90 million, a significant recovery from a loss of ¥99.18 million in the previous year[4]. - The basic earnings per share for Q3 2023 was ¥0.0122, compared to a loss of ¥0.0677 in the same period last year[5]. - The total electricity generation for the first nine months of 2023 was 4,494.75 million kWh, a decrease of 10.98% year-on-year[16]. - The company's gross profit for the first nine months of 2023 was 736.91 million RMB, a decrease of 292.14 million RMB compared to the previous year[16]. - The net profit for the first nine months of 2023 was 70.83 million RMB, compared to a loss of 68.38 million RMB in the same period last year[16]. - In Q3 2023, the company reported a net profit of ¥70,827,230.58, a significant improvement compared to a net loss of ¥68,381,809.03 in the same period last year[32]. - The total profit for Q3 2023 was ¥127,670,125.92, compared to a loss of ¥67,693,349.15 in Q3 2022, indicating a strong recovery in performance[32]. - Operating profit for Q3 2023 reached ¥121,354,097.38, a turnaround from an operating loss of ¥71,578,670.77 in Q3 2022[32]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was approximately ¥289.23 million, a decrease of 66.36% from ¥859.71 million in the same period last year[4]. - Cash flow from operating activities for the first three quarters of 2023 was ¥289,234,924.18, down from ¥859,708,841.08 in the same period of 2022[35]. - The company generated ¥17,059,647,564.95 in cash from sales in the first three quarters of 2023, an increase from ¥15,412,891,887.23 in the same period of 2022[34]. - Cash flow from financing activities in Q3 2023 was ¥520,927,524.59, compared to a net outflow of ¥594,453,448.62 in Q3 2022[36]. - The company’s total cash and cash equivalents at the end of Q3 2023 stood at ¥2,685,103,130.46, up from ¥2,201,918,673.22 at the end of Q3 2022[36]. Assets and Liabilities - The total assets at the end of Q3 2023 were approximately ¥22.24 billion, reflecting a 3.54% increase from ¥21.48 billion at the end of the previous year[5]. - The total liabilities as of September 30, 2023, amounted to CNY 17,655,996,162.75, up from CNY 16,966,487,862.62 at the end of 2022, reflecting an increase of approximately 4.1%[29]. - The company's cash and cash equivalents as of September 30, 2023, amounted to CNY 3,308,029,639.89, up from CNY 2,650,306,704.41 at the end of 2022, reflecting a growth of approximately 24.7%[28]. - Inventory as of September 30, 2023, was CNY 2,157,649,913.90, compared to CNY 1,741,375,798.14 at the end of 2022, showing an increase of about 24%[28]. - Short-term borrowings increased to CNY 4,274,160,154.16 as of September 30, 2023, from CNY 3,009,611,871.38 at the end of 2022, representing a rise of approximately 42%[29]. Operational Highlights - The company is focusing on expanding its market presence and enhancing its product offerings, although specific details on new products or technologies were not disclosed in the report[4]. - The company's operating revenue for the current reporting period decreased by 35.69% due to a reduction in oil product sales orders[10]. - The net profit attributable to shareholders for the current reporting period was impacted by a decrease in coal costs for its subsidiary, leading to reduced losses[10]. - The hydropower generation in the third quarter decreased by 8.48%, while thermal power generation increased by 35.70% year-on-year[15]. - The oil products segment experienced a gross profit of CNY 229.40 million, a decrease of CNY 59.03 million year-on-year due to fluctuations in refined oil market prices[18]. Investments and Development - The company has received approval for two wind power projects, which are currently under active development[21]. - The company signed a loan agreement with a bank for CNY 60 million to support working capital[20]. - The company plans to transfer 2% equity in a subsidiary to a related group, retaining a 49% stake post-transaction[22]. - Research and development expenses for the first three quarters of 2023 were CNY 5,249,308.50, compared to CNY 4,351,760.98 in 2022, showing an increase of approximately 20.6%[31]. Changes in Accounting and Reporting - The company has implemented adjustments in financial reporting due to the new accounting standards effective from January 1, 2023, impacting the presentation of deferred tax assets and liabilities[6]. - The company reported non-recurring gains of approximately ¥39.52 million for Q3 2023, compared to ¥122.51 million for the year-to-date[9]. - The company received government subsidies amounting to approximately ¥3.02 million during the reporting period, contributing to its non-recurring gains[8].