LK(SH:600388)2023-10-27 16:00Business Performance and Financial Metrics - Traditional environmental protection business maintained stable scale, with operating quality gradually improving, and new energy business increment progressed efficiently as planned[12] - Basic earnings per share were 0.60 yuan per share, compared to 0.59 yuan per share in the same period last year[19] - Diluted earnings per share were 0.54 yuan per share, consistent with the same period last year[19] - Revenue for the first three quarters of 2023 was 4,411,669,656.02 RMB, down from 4,712,895,456.96 RMB in the same period last year[35] - Operating costs decreased to 3,413,241,409.25 RMB from 3,659,126,965.55 RMB year-over-year[35] - Net profit for the period was 364,886,298.27 RMB, down from 701,429,106.63 RMB in the same period last year[41] - Total comprehensive income for the period was 364,886,298.27 RMB, compared to 701,429,106.63 RMB in the previous year[41] - Total comprehensive income for the period is RMB 364,499,413.21, with a year-to-date total of RMB 702,805,626.48[42] - Revenue for the current period is RMB 2,589,971,565.30, a 0.04% increase year-over-year, with a year-to-date total of RMB 7,530,984,476.42, a 0.71% increase[59] - Net profit attributable to shareholders of the listed company is RMB 213,674,638.50, a 15.98% decrease year-over-year, with a year-to-date total of RMB 641,594,995.16, a 0.87% increase[59] - Basic earnings per share for the current period is RMB 0.20, a 13.04% decrease year-over-year, with a year-to-date total of RMB 0.60, a 1.69% increase[59] - Revenue for the first three quarters reached 7.53 billion yuan, a year-on-year increase of 0.71%[72] - Net profit attributable to shareholders was 642 million yuan, a year-on-year increase of 0.87%[72] - The company's total profit for the first three quarters was 761.51 million yuan, a year-on-year increase from 737.21 million yuan[78] Cash Flow and Financial Position - Monetary funds increased to 2.366 billion yuan from 1.970 billion yuan[13] - Accounts receivable increased to 3.127 billion yuan from 3.002 billion yuan[13] - Cash received from selling goods and providing services was 5.357 billion yuan, compared to 5.203 billion yuan in the same period last year[20] - Net cash flow from operating activities increased to 578,835,806.66 RMB, up from 257,220,615.31 RMB in the previous period[23] - Net cash flow from investing activities rose to 368,701,211.96 RMB, compared to 107,681,595.29 RMB in the prior period[23] - Net cash flow from financing activities was -423,937,540.07 RMB, an improvement from -672,917,723.43 RMB in the previous period[29] - Total cash and cash equivalents at the end of the period stood at 2,183,918,140.46 RMB, up from 1,588,027,327.73 RMB[29] - The company's monetary funds increased to 1,316,182,708.43 RMB from 1,245,865,946.03 RMB[25] - Accounts receivable rose to 2,058,875,686.38 RMB, up from 2,010,984,672.93 RMB[25] - Inventory increased to 3,850,639,431.47 RMB, compared to 3,624,070,006.61 RMB in the previous period[25] - Net cash flow from operating activities was -1,237,665,709.83 RMB, a significant decline from 35,991,120.66 RMB in the previous year[38] - Net cash flow from investing activities improved to 1,379,626,053.43 RMB, up from 424,721,334.18 RMB[38] - Net cash flow from financing activities was -59,480,013.28 RMB, compared to -652,187,213.28 RMB in the prior year[39] - The company achieved operating cash flow of 579 million yuan in the first three quarters, a year-on-year increase of 322 million yuan, up 125%[72] - The company's interest expense for the first three quarters was 157.87 million yuan, a decrease from 170.16 million yuan in the same period last year[76] Assets and Liabilities - Total assets amounted to 21,571,644,205.23 RMB, slightly down from 21,819,806,698.68 RMB[31] - Current liabilities totaled 11,900,309,266.44 RMB, a decrease from 12,239,548,179.18 RMB[31] - Long-term liabilities included 991,653,267.50 RMB in long-term loans and 1,785,828,346.15 RMB in bonds[31] - Total liabilities increased to 14,827,557,763.08 RMB, up from 15,340,355,121.25 RMB in the previous period[33] - Total owner's equity rose to 6,744,086,442.15 RMB, compared to 6,479,451,577.43 RMB in the prior period[33] - Total assets at the end of the reporting period are RMB 25,187,308,432.33, a 4.66% decrease compared to the end of the previous year[62] - Equity attributable to shareholders of the listed company at the end of the reporting period is RMB 7,936,352,206.91, a 7.39% increase compared to the end of the previous year[62] - The company's asset-liability ratio at the end of the reporting period was 67.55%, a decrease of 3.77 percentage points compared to the end of the previous year[72] - Total assets increased to 26.42 billion, up from 25.19 billion in the previous period[81] - Inventory rose to 7.42 billion, a 15.2% increase from 6.44 billion[81] - Contract assets grew to 1.23 billion, up 4.1% from 1.18 billion[81] - Current liabilities increased to 14.43 billion, up 11% from 13.01 billion[83] - Long-term debt decreased to 1.86 billion, down 17.9% from 1.53 billion[83] - Total liabilities rose to 18.84 billion, up 10.7% from 17.01 billion[83] - Retained earnings increased to 5.04 billion, up 8.9% from 5.48 billion[83] - Fixed assets grew to 2.20 billion, up 4% from 2.29 billion[81] - Construction in progress increased to 1.00 billion, up 28.4% from 1.29 billion[81] - Intangible assets remained stable at 2.65 billion, up 1.3% from 2.61 billion[81] New Energy and Energy Storage Projects - Approximately 2GW of wind and solar projects have completed index filing, with nearly 1GW of projects under construction[12] - Longjing Honeycomb Energy Storage Battery PACK and system integration project was completed and put into production on August 28, 2023, with new energy storage contracts reaching 1.235 billion yuan[12] - The 5GWH lithium iron phosphate energy storage cell project in Shanghang County has completed the main structure and is about to enter the equipment installation phase[12] - New engineering contracts in the first three quarters of 2023 amount to RMB 7.922 billion, with new energy storage system and equipment sales contracts totaling RMB 1.235 billion[51] - Outstanding engineering contracts at the end of the period amount to RMB 19.908 billion, with outstanding energy storage contracts totaling RMB 1.235 billion[51] - New energy construction projects incurred costs of approximately 18.19 million yuan[68] Non-Recurring Items and Other Expenses - Credit impairment losses reversed to 107,737,572.28 RMB from -566,643.10 RMB[41] - Foreign currency translation difference is RMB -386,885.06, compared to RMB 1,376,519.85 in the previous period[42] - Non-recurring gains and losses for the current period amount to RMB 13,429,490.42, with a year-to-date total of RMB 146,946,679.20[46] - The company paid a one-time non-operating expense of approximately 22.4 million yuan due to a 2018 sales contract dispute[68] - Foreign exchange gains decreased by approximately 23.34 million yuan due to a narrowing of the USD exchange rate difference[68] - Credit impairment losses for the first three quarters were 92.47 million yuan, compared to a loss of 19.49 million yuan in the same period last year[78]