SZEW(SH:600548)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 2,246,408,274.72, a decrease of 11.98% compared to CNY 2,552,227,234.66 in the same period last year[4] - Net profit attributable to shareholders for Q3 2023 was CNY 609,624,394.83, down 47.87% from CNY 1,164,307,058.62 year-on-year[4] - Basic earnings per share for Q3 2023 was CNY 0.258, a decline of 49.90% from CNY 0.512 in the same period last year[5] - Total revenue for the first three quarters of 2023 was ¥6,371,288,240, a decrease of approximately 4.14% compared to ¥6,646,320,880 in the same period of 2022[30] - Operating profit for the first three quarters of 2023 was ¥2,067,515,474.36, down from ¥2,523,926,856.20 in 2022, reflecting a decline of about 18.06%[30] - Net profit for the first three quarters of 2023 was ¥1,558,580,959.78, compared to ¥2,068,020,934.92 in 2022, representing a decrease of approximately 24.7%[30] - The net profit attributable to the parent company for Q3 2023 was approximately ¥1.54 billion, a decrease from ¥2.02 billion in Q3 2022, representing a decline of about 23.7%[32] - The total comprehensive income for Q3 2023 was approximately ¥1.23 billion, compared to ¥1.07 billion in Q3 2022, indicating an increase of about 14.3%[32] Assets and Liabilities - Total assets at the end of Q3 2023 were CNY 67,359,514,836.14, a decrease of 2.67% from CNY 69,201,468,263.76 at the end of the previous year[7] - Current liabilities totaled ¥20,956,932,131.97 as of September 30, 2023, a decrease of approximately 9.83% from ¥23,243,350,594.23 at the end of 2022[29] - Long-term borrowings increased to ¥9,600,374,613.53 in Q3 2023, compared to ¥9,573,248,109.29 in the previous year, reflecting a slight increase of about 0.28%[29] - The company’s total equity as of September 30, 2023, was ¥27,230,117,782.91, slightly down from ¥27,364,137,701.52 at the end of 2022, a decrease of approximately 0.49%[29] Cash Flow - The net cash flow from operating activities for the year-to-date was CNY 2,992,715,053.98, an increase of 15.67% compared to CNY 2,587,314,668.15 in the same period last year[4] - Cash flow from operating activities for the first three quarters of 2023 was approximately ¥6.17 billion, up from ¥5.91 billion in the same period of 2022, reflecting an increase of about 4.4%[33] - The net cash flow from operating activities for the first three quarters of 2023 was approximately ¥2.99 billion, compared to ¥2.59 billion in the same period of 2022, marking an increase of about 15.8%[33] - Cash flow from investing activities generated a net inflow of approximately ¥62.75 million in the first three quarters of 2023, a significant improvement from a net outflow of approximately ¥2.55 billion in the same period of 2022[33] - The total cash outflow from financing activities for the first three quarters of 2023 was approximately ¥20.39 billion, compared to ¥21.16 billion in the same period of 2022, showing a decrease of about 3.6%[34] Revenue from Projects - The company reported a total revenue of RMB 25,210.48 thousand from the Guiyang organic waste treatment project in Q3 2023, with a total processing volume of 48.57 thousand tons[21] - The Nanning project generated RMB 25,560.19 thousand in revenue for Q3 2023, processing 54.49 thousand tons of organic waste[21] - The total revenue from all organic waste treatment projects in the first three quarters of 2023 amounted to RMB 147,302.18 thousand, with a total processing volume of 318.31 thousand tons[21] - The company’s organic waste treatment projects have entered commercial operation, contributing significantly to revenue growth in the first three quarters of 2023[20] - The total revenue from the wind power projects for the first nine months of 2023 reached RMB 563.12 million, with a significant contribution from Xinjiang Mu Lei at RMB 249.84 million[22] Shareholder Information - The company had a total of 15,329 shareholders at the end of the reporting period, with the top 10 shareholders holding significant stakes[11] - The company plans to issue up to 654,231,097 A-shares, aiming to raise a total of up to RMB 6.5 billion for project investments and debt repayment[24] Future Plans and Investments - The company plans to continue focusing on market expansion and new technology development to enhance future performance[10] - The company plans to invest approximately RMB 8.447 billion in the third phase of the Outer Ring Expressway project, which is expected to enhance core highway assets and improve traffic flow for other toll roads[23] - The company is actively working on the feasibility study for the Shenzhen section of the Guangzhou-Shenzhen Expressway expansion project[24] - The company has initiated a pilot application for a REITs project based on the Hunan Province Yiyang to Changde Expressway, which is fully owned by its subsidiary[25] Financial Instruments - The company completed the issuance of short-term financing bonds totaling RMB 1.5 billion with a maturity of 270 days at an interest rate of 2.25%[25] - The company issued medium-term notes amounting to RMB 1 billion with a maturity of 5 years at an interest rate of 3.05%[26] - The company has engaged in two transactions of principal-protected floating income financial products, with a total investment of RMB 400 million during the reporting period[26] - The company has a total green bond issuance limit of RMB 4.1 billion, with the first phase of green bonds issued at RMB 550 million and a maturity of 3 years at an interest rate of 2.88%[26] Traffic and Toll Revenue - The average daily mixed traffic volume on the Meiguan Expressway was 171 thousand vehicles in Q3 2023, an increase from 163 thousand vehicles in the same period last year[18] - The average daily toll revenue for the Jihe East Section reached RMB 1,954 thousand in Q3 2023, compared to RMB 1,865 thousand in the same period last year[18] - The company holds a 100% stake in the Yangmao Expressway, which reported a daily traffic volume of 64 thousand vehicles in Q3 2023, up from 58 thousand vehicles year-on-year[18] - The average daily toll revenue for the Longda Expressway was RMB 458 thousand in Q3 2023, an increase from RMB 427 thousand in the same period last year[18]