国网英大(600517) - 2022 Q3 - 季度财报

Important Notice](index=1&type=section&id=%E9%87%8D%E8%A6%81%E5%86%85%E5%AE%B9%E6%8F%90%E7%A4%BA) This report is the unaudited Q3 2022 report of State Grid Yingda Co., Ltd., with the Board, Supervisory Board, and management affirming its truthfulness and completeness - The financial statements for this quarter are unaudited[3] - The company's Board of Directors, Supervisory Board, and management assume legal responsibility for the truthfulness, accuracy, and completeness of the report content[3] I. Key Financial Data](index=1&type=section&id=%E4%B8%80%E3%80%81%E4%B8%BB%E8%A6%81%E8%B4%A2%E5%8A%A1%E6%95%B0%E6%8D%AE) (I) Key Accounting Data and Financial Indicators](index=1&type=section&id=(%E4%B8%80)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E5%92%8C%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87) The company achieved significant growth in total operating revenue and operating revenue in Q3 2022 and YTD, but net profit attributable to shareholders and basic earnings per share decreased year-on-year, while total assets and owners' equity attributable to shareholders increased compared to the end of the previous year Key Financial Indicators for Q3 2022 and YTD | Indicator | Current Period (Q3 2022) | YoY Change (%) | Year-to-Date (YTD 2022) | YoY Change (%) | | :------------------------------------------------------------------------------------------------------- | :----------------- | :----------- | :----------------- | :----------- | | Total Operating Revenue | 2,812,849,802.11 | 39.41 | 7,219,432,963.53 | 27.95 | | Operating Revenue | 1,876,525,992.07 | 77.96 | 4,387,629,886.08 | 52.40 | | Interest Income | 191,387,856.80 | -17.70 | 591,845,283.79 | -10.35 | | Fee and Commission Income | 744,935,953.24 | 1.94 | 2,239,957,793.66 | 6.49 | | Net Profit Attributable to Shareholders of Listed Company | 202,224,386.98 | -39.86 | 822,994,893.33 | -16.13 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-recurring Items) | 202,004,286.15 | -39.15 | 810,547,575.26 | -16.39 | | Net Cash Flow from Operating Activities | 不适用 | 不适用 | 586,959,925.23 | -33.47 | | Basic Earnings Per Share (Yuan/share) | 0.035 | -40.68 | 0.144 | -16.28 | | Diluted Earnings Per Share (Yuan/share) | 0.035 | -40.68 | 0.144 | -16.28 | | Weighted Average Return on Net Assets (%) | 1.08 | 减少0.85个百分点 | 4.39 | 减少1.15个百分点 | Balance Sheet Indicators as of Q3 2022 | Indicator | As of Current Period End (2022.09.30) (Yuan) | As of Prior Year End (2021.12.31) (Yuan) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :--------------- | | Total Assets | 45,495,243,163.90 | 44,908,856,477.14 | 1.31 | | Owners' Equity Attributable to Shareholders of Listed Company | 18,769,087,394.95 | 18,338,602,209.76 | 2.35 | (II) Non-recurring Gains and Losses Items and Amounts](index=2&type=section&id=(%E4%BA%8C)%E9%9D%9E%E7%BB%8F%E5%B8%B8%E6%80%A7%E6%8D%9F%E7%9B%8A%E9%A1%B9%E7%9B%AE%E5%92%8C%E9%87%91%E9%A2%9D) The company's non-recurring gains and losses totaled 220,100.83 Yuan for the current period and 12,447,318.07 Yuan year-to-date, primarily including government subsidies, non-current asset disposal gains/losses, and other non-operating income/expenses Non-recurring Gains and Losses Items and Amounts | Item | Current Period Amount (Yuan) | Year-to-Date Amount (Yuan) | | :------------------------------------------------------------------------------------------------------- | :---------------- | :---------------------- | | Gains/Losses on Disposal of Non-current Assets | 9,062.21 | -1,281,021.51 | | Government Subsidies Included in Current P&L (Excluding those closely related to normal operations, compliant with national policies, and continuously enjoyed at fixed/quantitative standards) | 1,342,881.10 | 17,287,000.81 | | Other Non-operating Income and Expenses Apart from the Above | -1,347,020.46 | 877,955.80 | | Less: Income Tax Impact | -181,969.10 | 4,352,461.20 | | Minority Interests Impact (After Tax) | -33,208.88 | 84,155.83 | | Total | 220,100.83 | 12,447,318.07 | (III) Changes and Reasons for Key Accounting Data and Financial Indicators](index=2&type=section&id=(%E4%B8%89)%E4%B8%BB%E8%A6%81%E4%BC%9A%E8%AE%A1%E6%95%B0%E6%8D%AE%E3%80%81%E8%B4%A2%E5%8A%A1%E6%8C%87%E6%A0%87%E5%8F%91%E7%94%9F%E5%8F%98%E5%8A%A8%E7%9A%84%E6%83%85%E5%86%B5%E3%80%81%E5%8E%9F%E5%9B%A0) The company's operating revenue increased by 52.40% year-on-year for the year-to-date period, mainly due to increased power equipment and securities basis businesses, while net cash flow from operating activities decreased by 33.47% year-on-year, primarily due to lower securities brokerage volume - Operating revenue increased by 52.40% year-on-year, primarily due to increased power equipment business and securities basis business in the current period[7] - Net cash flow from operating activities decreased by 33.47% year-on-year, mainly due to lower securities brokerage volume in the current period[7] II. Shareholder Information](index=3&type=section&id=%E4%BA%8C%E3%80%81%E8%82%A1%E4%B8%9C%E4%BF%A1%E6%81%AF) (I) Total Number of Common Shareholders, Preferred Shareholders with Restored Voting Rights, and Top Ten Shareholders' Holdings](index=3&type=section&id=(%E4%B8%80)%E6%99%AE%E9%80%9A%E8%82%A1%E8%82%A1%E4%B8%9C%E6%80%BB%E6%95%B0%E5%92%8C%E8%A1%A8%E5%86%B3%E6%9D%83%E6%81%A2%E5%A4%8D%E7%9A%84%E4%BC%98%E5%85%88%E8%82%A1%E8%82%A1%E4%B8%9C%E6%95%B0%E9%87%8F%E5%8F%8A%E5%89%8D%E5%8D%81%E5%90%8D%E8%82%A1%E4%B8%9C%E6%8C%81%E8%82%A1%E6%83%85%E5%86%B5%E8%A1%A8) As of the end of the reporting period, the company had 78,682 common shareholders, with State Grid Yingda International Holdings Group Co., Ltd. being the largest shareholder with 65.53% of shares, all of which are restricted shares, and multiple state-owned corporate shareholders with related party relationships among the top ten - The total number of common shareholders at the end of the reporting period was 78,682[9] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Number of Shares Held | Shareholding (%) | Number of Restricted Shares Held | | :----------------------------------- | :-------------------- | :-------------------- | :--------------- | :--------------------- | | State Grid Yingda International Holdings Group Co., Ltd. | State-owned Legal Person | 3,747,456,382 | 65.53 | 3,747,456,382 | | State Grid Electric Power Research Institute Co., Ltd. | State-owned Legal Person | 428,138,981 | 7.49 | 0 | | Shanghai Zhixin (Group) Co., Ltd. | Domestic Non-state-owned Legal Person | 207,857,842 | 3.63 | 0 | - State Grid Corporation of China has related party relationships through equity control over State Grid Yingda International Holdings Group Co., Ltd., State Grid Electric Power Research Institute Co., Ltd., and State Grid Xinyuan Holdings Co., Ltd[9] III. Other Reminders](index=4&type=section&id=%E4%B8%89%E3%80%81%E5%85%B6%E4%BB%96%E6%8F%90%E9%86%92%E4%BA%8B%E9%A1%B9) The company has no other significant operating information requiring investor attention during the reporting period - The company's operating situation during the reporting period has no other important information requiring investor attention[10] IV. Quarterly Financial Statements](index=5&type=section&id=%E5%9B%9B%E3%80%81%E5%AD%A3%E5%BA%A6%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) (I) Type of Audit Opinion](index=5&type=section&id=(%E4%B8%80)%E5%AE%A1%E8%AE%A1%E6%84%8F%E8%A7%81%E7%B1%BB%E5%9E%8B) The financial statements for this quarter are unaudited - The financial statements for this quarter are unaudited[11] (II) Financial Statements](index=5&type=section&id=(%E4%BA%8C)%E8%B4%A2%E5%8A%A1%E6%8A%A5%E8%A1%A8) This section provides the company's consolidated balance sheet as of Q3 2022, and consolidated income statement and cash flow statement for the year-to-date period, detailing its financial position, operating results, and cash flows Consolidated Balance Sheet](index=5&type=section&id=%E5%90%88%E5%B9%B6%E8%B5%84%E4%BA%A7%E8%B4%9F%E5%80%BA%E8%A1%A8) As of September 30, 2022, the company's total assets increased by 1.31% from the end of the previous year, with significant increases in trading financial assets and non-current assets due within one year, and decreases in accounts receivable, funds lent, and financial assets purchased under resale agreements, while current liabilities saw a substantial increase in financial assets sold under repurchase agreements and a significant decrease in funds borrowed Consolidated Balance Sheet Key Item Changes (2022.09.30 vs 2021.12.31) | Item | September 30, 2022 (Yuan) | December 31, 2021 (Yuan) | Change Amount (Yuan) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :------------ | :----------- | | Cash and Bank Balances | 7,289,409,838.52 | 7,347,489,517.64 | -58,079,679.12 | -0.79 | | Trading Financial Assets | 13,262,091,205.91 | 11,670,883,306.41 | 1,591,207,899.50 | 13.63 | | Accounts Receivable | 3,934,807,507.90 | 4,325,711,226.72 | -390,903,718.82 | -9.04 | | Inventories | 1,695,016,470.06 | 1,044,402,766.10 | 650,613,703.96 | 62.30 | | Non-current Assets Due Within One Year | 2,111,345,905.74 | 573,327,160.38 | 1,538,018,745.36 | 268.26 | | Other Debt Investments | 7,776,206,633.14 | 9,070,644,875.01 | -1,294,438,241.87 | -14.27 | | Short-term Borrowings | 2,448,062,455.22 | 2,693,681,322.37 | -245,618,867.15 | -9.12 | | Funds Borrowed | 501,840,277.78 | 1,502,312,750.03 | -1,000,472,472.25 | -66.60 | | Financial Assets Sold Under Repurchase Agreements | 7,068,902,476.22 | 5,178,815,591.15 | 1,890,086,885.07 | 36.49 | | Client Funds for Securities Trading | 6,477,113,624.83 | 7,229,243,059.50 | -752,129,434.67 | -10.40 | | Total Liabilities | 23,492,947,572.48 | 23,525,679,387.98 | -32,731,815.50 | -0.14 | | Total Owners' Equity | 22,002,295,591.42 | 21,383,177,089.16 | 619,118,502.26 | 2.90 | Consolidated Income Statement](index=7&type=section&id=%E5%90%88%E5%B9%B6%E5%88%A9%E6%B6%A6%E8%A1%A8) As of September 30, 2022, the company's total operating revenue increased by 27.95% and operating revenue by 52.40% year-on-year for the year-to-date period, however, net profit attributable to parent company shareholders decreased by 16.13% to 0.144 Yuan/share in basic earnings per share, impacted by investment income, fair value changes, and credit impairment losses Consolidated Income Statement Key Item Changes (YTD 2022 vs YTD 2021) | Item | Q1-Q3 2022 (Yuan) | Q1-Q3 2021 (Yuan) | Change Amount (Yuan) | Change (%) | | :------------------------------------------------------------------------------------------------------- | :-------------------- | :-------------------- | :------------ | :----------- | | Total Operating Revenue | 7,219,432,963.53 | 5,642,526,017.90 | 1,576,906,945.63 | 27.95 | | Operating Revenue | 4,387,629,886.08 | 2,878,996,019.76 | 1,508,633,866.32 | 52.40 | | Interest Income | 591,845,283.79 | 660,176,589.79 | -68,331,306.00 | -10.35 | | Fee and Commission Income | 2,239,957,793.66 | 2,103,353,408.35 | 136,604,385.31 | 6.49 | | Total Operating Costs | 5,353,375,429.68 | 3,967,780,149.36 | 1,385,595,280.32 | 34.92 | | Investment Income (Losses Indicated by "-") | 124,222,468.82 | 427,279,030.64 | -303,056,561.82 | -70.93 | | Gains/Losses from Changes in Fair Value (Losses Indicated by "-") | -551,055,704.19 | -443,080,475.07 | -107,975,229.12 | 24.37 | | Credit Impairment Losses (Losses Indicated by "-") | 1,814,391.80 | -25,432,724.13 | 27,247,115.93 | -107.13 | | Operating Profit | 1,462,188,242.72 | 1,649,668,274.02 | -187,480,031.30 | -11.36 | | Net Profit | 1,106,232,492.63 | 1,266,993,741.38 | -160,761,248.75 | -12.69 | | Net Profit Attributable to Parent Company Shareholders | 822,994,893.33 | 981,243,837.13 | -158,248,943.80 | -16.13 | | Basic Earnings Per Share (Yuan/share) | 0.144 | 0.172 | -0.028 | -16.28 | Consolidated Cash Flow Statement](index=10&type=section&id=%E5%90%88%E5%B9%B6%E7%8E%B0%E9%87%91%E6%B5%81%E9%87%8F%E8%A1%A8) As of September 30, 2022, net cash flow from operating activities decreased by 33.47% year-on-year, mainly due to lower securities brokerage volume, while net cash outflow from financing activities replaced last year's net inflow, leading to a negative net increase in cash and cash equivalents Consolidated Cash Flow Statement Key Item Changes (YTD 2022 vs YTD 2021) | Item | Q1-Q3 2022 (Yuan) | Q1-Q3 2021 (Yuan) | Change Amount (Yuan) | Change (%) | | :----------------------------------- | :-------------------- | :-------------------- | :------------ | :----------- | | Net Cash Flow from Operating Activities | 586,959,925.23 | 882,228,602.57 | -295,268,677.34 | -33.47 | | Net Cash Flow from Investing Activities | -43,158,199.43 | -161,003,067.58 | 117,844,868.15 | -73.10 | | Net Cash Flow from Financing Activities | -865,576,744.97 | 834,125,089.73 | -1,699,701,834.70 | -203.77 | | Net Increase in Cash and Cash Equivalents | -311,297,423.50 | 1,554,523,747.40 | -1,865,821,170.90 | -120.02 | | Cash and Cash Equivalents at Period End | 8,141,065,862.45 | 8,026,338,984.50 | 114,726,877.95 | 1.43 | - The decrease in net cash flow from operating activities was mainly due to lower securities brokerage volume[7] - Net cash flow from financing activities shifted from a net inflow in the same period last year to a net outflow, primarily due to a significant decrease in cash received from borrowings and bond issuance, while cash paid for debt repayment remained high[22]