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乐山电力(600644) - 2023 Q2 - 季度财报
LEPLEP(SH:600644)2023-08-24 16:00

Financial Performance - The company's operating revenue for the first half of 2023 was CNY 1,494,194,952.31, a slight increase of 0.37% compared to CNY 1,488,631,828.95 in the same period last year[21]. - The net profit attributable to shareholders for the first half of 2023 was CNY 13,375,885.47, representing a significant decrease of 84.44% from CNY 85,989,562.20 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 10,998,964.83, down 86.72% from CNY 82,846,511.26 year-on-year[21]. - The net cash flow from operating activities for the first half of 2023 was CNY 122,222,451.84, a decrease of 8.97% compared to CNY 134,264,037.72 in the same period last year[21]. - Basic earnings per share for the first half of 2023 were CNY 0.0248, down 84.44% from CNY 0.1597 in the same period last year[22]. - The weighted average return on net assets for the first half of 2023 was 0.74%, a decrease of 4.14 percentage points from 4.88% in the previous year[22]. Revenue and Sales - The company achieved a net profit attributable to shareholders of 13.38 million yuan in the first half of 2023, a decrease of 84.44% compared to 85.99 million yuan in the same period last year[38]. - The total operating revenue for the first half of 2023 was 1,494.20 million yuan, representing a growth of 0.37% from 1,488.63 million yuan in the previous year[36]. - The company completed electricity sales of 2,162.92 million kWh, an increase of 5.56% compared to 2,049.01 million kWh in the same period last year[36]. - The company reported a decrease in power generation of 19.33%, with a total of 2,120.5 million kWh generated compared to 2,628.4 million kWh in the previous year[36]. - The gas sales volume reached 93.58 million cubic meters, a slight increase of 0.79% from 92.85 million cubic meters in the same period last year[36]. - Water sales volume increased by 2.20%, totaling 29.82 million cubic meters compared to 29.18 million cubic meters in the previous year[36]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 4,153,304,375.22, an increase of 2.14% from CNY 4,066,477,066.14 at the end of the previous year[21]. - The net assets attributable to shareholders at the end of the reporting period were CNY 1,805,666,981.62, reflecting a growth of 0.85% from CNY 1,790,441,106.94 at the end of the previous year[21]. - Total liabilities rose to CNY 2,110,045,852.71 from CNY 2,041,036,541.47, marking an increase of about 3.38%[115]. - Current liabilities decreased from CNY 1,334,771,467.11 to CNY 1,197,647,509.46, a reduction of approximately 10.26%[114]. - Long-term borrowings increased significantly from CNY 340,290,000.00 to CNY 546,770,000.00, representing a growth of about 60.73%[115]. Government Support and Subsidies - The company received government subsidies totaling 1,981,909.66 yuan during the reporting period, primarily from deferred income amortization and VAT deductions[24]. Operational Challenges - The company's operating performance significantly declined due to a reduction in self-generated electricity by 50.8 million kWh and a decrease in purchased small hydropower electricity by 178.96 million kWh, leading to a decrease in electricity gross profit of approximately CNY 48 million[39]. - The cancellation of the industrial and commercial directory electricity price policy since February 2022 has further reduced electricity gross profit by approximately CNY 10 million[39]. - The company faces risks in the electricity sector due to market reforms and high supply pressures during peak demand[58]. - In the natural gas sector, the company is experiencing increased purchasing costs due to upstream price fluctuations and aging infrastructure[59]. Strategic Initiatives - The company is focusing on transforming into a comprehensive energy service provider, emphasizing the integration of various energy sectors and enhancing operational efficiency[35]. - The company aims to explore new business opportunities in the water supply sector and optimize cost management to improve economic efficiency[66]. - The company is actively seeking reasonable policies to guide upstream gas price increases to mitigate the impact of rising gas prices on its operations[39]. - The company is enhancing its governance structure and has held its annual general meeting on May 25, 2023, to discuss key resolutions[72]. Community and Social Responsibility - The company has committed to donating 600,000 yuan in 2023 to support rural revitalization efforts, focusing on integrating agriculture, culture, and tourism in the Star Village[81]. - The average annual income of laborers from Xingxing Village increased by 30% year-on-year, with 98 laborers employed outside the village[85]. - The total funding for poverty alleviation projects in 2023 reached 5.8 million yuan, with 5 projects implemented and 2 more planned[85]. - The coverage of medical insurance for the poverty alleviation population reached 100%, with comprehensive implementation of medical policies[85]. Financial Management - The company's financial expenses decreased by 15.65% to CNY 13.29 million, attributed to adjustments in loan structure and interest rate changes[41]. - The investment income increased by 103.60% to CNY 20.14 million, primarily due to increased investment income from associated companies[43]. - The company reported a net cash increase of CNY 112,756,685.30 in the first half of 2023, contrasting with a decrease of CNY 13,325,638.71 in the previous year[129]. Shareholder Information - The company reported a total of 103,608,320 shares held by Leshan State-owned Assets Investment Operation (Group) Co., accounting for 19.24% of total shares[107]. - The company has no strategic investors or general corporations becoming top ten shareholders during the reporting period[108]. - The first major shareholder, Sichuan Electric Power Company, holds 51.23 million shares, accounting for 15.69% of the total shares[161]. Accounting and Reporting - The financial statements are prepared in accordance with the enterprise accounting standards, reflecting the company's financial position accurately[168]. - The company has not reported any significant changes in accounting policies or corrections of prior period errors during the current reporting period[137]. - The company prepares consolidated financial statements based on control, including subsidiaries and structured entities[183].