ACC(600585)2023-10-27 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 33,607,073,674, representing a year-on-year increase of 15.68%[4] - The net profit attributable to shareholders for Q3 2023 was CNY 2,203,694,280, a decrease of 14.55% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was CNY 1,998,555,972, down 25.75% year-on-year[4] - The basic earnings per share for Q3 2023 was CNY 0.42, reflecting a decrease of 14.55% compared to the same period last year[4] - Total operating revenue for the first three quarters of 2023 reached CNY 99.04 billion, a 15.99% increase from CNY 85.33 billion in the same period of 2022[16] - Net profit for the first three quarters of 2023 was CNY 9.07 billion, a decrease of 29.06% compared to CNY 12.76 billion in the same period of 2022[17] - The company recorded a total comprehensive income of CNY 8.33 billion for Q3 2023, down from CNY 9.79 billion in Q3 2022[18] Assets and Liabilities - The total assets at the end of Q3 2023 were CNY 247,072,442,409, an increase of 1.27% from the end of the previous year[5] - The equity attributable to shareholders at the end of Q3 2023 was CNY 184,171,166,452, up 0.29% from the end of the previous year[5] - The company's total liabilities were RMB 50,451,640,418, compared to RMB 47,982,827,505 in the previous year, marking an increase of around 5.8%[14] - The company's total non-current assets increased to RMB 142,981,867,409 from RMB 137,958,162,701, reflecting a growth of about 3.3%[15] - The company's total liabilities to equity ratio was approximately 25.7%, indicating a stable leverage position[14] Cash Flow - The company reported a decrease in net cash flow from operating activities for the year-to-date period, totaling CNY 9,701,151,089, an increase of 1.13% year-on-year[4] - The company reported a net cash flow from operating activities of CNY 9.70 billion, slightly up from CNY 9.59 billion in the previous year[20] - Cash inflow from financing activities totaled 14,538,288,101 in the current period, compared to 15,390,448,235 in the previous period, reflecting a decrease of approximately 5.5%[21] - Net cash flow from financing activities was -2,289,743,745, indicating a worsening compared to -2,973,742,739 in the previous period[21] - The ending balance of cash and cash equivalents was 12,822,607,027, down from 21,080,779,389 in the previous period, representing a decline of approximately 39.2%[21] - Cash outflow for debt repayment was 8,044,478,111, which is an increase from 4,606,583,910 in the previous period, indicating a rise of approximately 74.5%[21] - Cash dividends and interest payments totaled 8,634,287,450, down from 13,187,602,702, reflecting a decrease of about 34.5%[21] Operational Insights - The decline in net profit was primarily due to a decrease in sales prices of cement products, leading to a reduction in total profit[7] - The company has seen an increase in revenue from bulk material trading, contributing to a year-on-year growth in operating revenue for the year-to-date period[8] - The company's current assets totaled RMB 104,090,575,000, a slight decrease from RMB 106,018,259,536 at the end of 2022, indicating a decline of about 1.8%[13] - The company's inventory decreased to RMB 9,366,327,206 from RMB 11,678,994,640, reflecting a decline of approximately 19.8%[13] - The company's short-term borrowings decreased to RMB 8,042,274,593 from RMB 10,037,364,015, indicating a reduction of about 19.9%[14] - The company's accounts receivable decreased to RMB 4,852,618,972 from RMB 5,637,337,662, representing a decline of approximately 13.9%[12] Research and Development - Research and development expenses for the first three quarters of 2023 were CNY 1.27 billion, a decrease from CNY 1.43 billion in 2022[16] Tax and Financial Assets - The company’s tax expenses for the first three quarters of 2023 were CNY 2.36 billion, down from CNY 3.58 billion in the same period of 2022[17] - The company’s financial assets measured at amortized cost showed a significant change, with a fair value loss of CNY 84.63 million in Q3 2023[17] Accounting Standards - The company did not apply new accounting standards or interpretations for the current reporting period[22]