TEC(600780)2020-10-28 16:00Financial Performance - Net profit attributable to shareholders was CNY 166,590,115.52, representing a decline of 29.02% year-on-year[18]. - Basic earnings per share were CNY 0.1453, down 29.02% from CNY 0.2047 in the previous year[18]. - The company reported a net profit of CNY 160,010,347.79 after deducting non-recurring gains and losses, a decrease of 30.85% year-on-year[18]. - Net profit attributable to the parent company decreased compared to the same period last year, primarily due to a decline in average electricity selling price in the supply area, resulting in reduced gross profit margin[29]. - Total operating revenue for Q3 2020 was approximately ¥1.66 billion, a slight increase from ¥1.64 billion in Q3 2019, representing a growth of 1.5%[52]. - Net profit for Q3 2020 was approximately ¥62.53 million, compared to ¥63.61 million in Q3 2019, reflecting a decrease of 1.7%[55]. - The company reported a total profit of approximately ¥84.34 million for Q3 2020, slightly down from ¥85.34 million in Q3 2019, a decline of 1.2%[55]. - Operating profit for the third quarter of 2020 was CNY 7,354,738.38, compared to CNY 1,021,354.85 in the third quarter of 2019, indicating strong growth[61]. - Net profit for the first three quarters of 2020 was CNY 8,832,977.54, up from CNY 8,334,930.11 in the same period of 2019[61]. Revenue and Costs - Operating revenue for the first nine months was CNY 4,967,989,295.37, an increase of 0.72% compared to the same period last year[18]. - Total operating costs for Q3 2020 were approximately ¥1.59 billion, up from ¥1.56 billion in Q3 2019, indicating a rise of 2.3%[52]. - Cash inflow from operating activities for the first three quarters of 2020 was CNY 5,704,377,101.14, compared to CNY 5,618,743,752.04 in the previous year[63]. - The total cash outflow for operating activities was 4,829,558,718.70, slightly higher than 4,729,433,810.57, reflecting increased operational costs[65]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 8,237,886,897.96, a decrease of 0.72% compared to the end of the previous year[18]. - Total current assets as of September 30, 2020, amounted to RMB 2,212,532,778.82, compared to RMB 2,125,956,968.52 at the end of 2019[36]. - Non-current assets decreased from CNY 6,171,737,723.56 to CNY 6,025,354,119.14, a decline of about 2.37%[40]. - Current liabilities decreased from CNY 1,987,658,344.34 to CNY 1,729,902,092.02, a reduction of approximately 12.97%[40]. - Total liabilities decreased from CNY 2,942,471,149.44 to CNY 2,777,180,639.34, a decline of about 5.61%[42]. - The total liabilities decreased to approximately ¥11.83 billion in the current period from ¥13.17 billion in the previous period, a reduction of 10.2%[52]. - The company’s total liabilities reached ¥2,942,471,149.44, indicating a significant leverage position[76]. Shareholder Information - The total number of shareholders at the end of the reporting period was 39,637[24]. - The largest shareholder, Shanxi International Power Group Co., Ltd., held 57.33% of the shares[24]. - Shareholders' equity increased from CNY 5,355,223,542.64 to CNY 5,460,706,258.62, an increase of approximately 1.96%[42]. - The company reported a total of CNY 2,788,253,809.54 in undistributed profits, up from CNY 2,713,383,895.86, an increase of about 2.76%[42]. Cash Flow and Investments - Net cash flow from operating activities for the first nine months was CNY 874,818,382.44, a decrease of 1.63% year-on-year[18]. - Cash inflow from investment activities totaled 9,674,267.76, significantly up from 312,853.62, indicating a strong recovery in investment returns[65]. - The net cash flow from investment activities was -424,697,403.36, an improvement from -576,799,136.57, reflecting reduced cash outflows for investments[65]. - The company received cash from investments increased compared to the same period last year, mainly due to funds allocated for rural power grid renovation projects from the controlling shareholder[29]. - The cash received from investment income was 7,141,405.33, a significant increase from 208,895.70, highlighting improved investment performance[65]. Financial Ratios and Metrics - The weighted average return on equity decreased by 1.44 percentage points to 3.06%[18]. - The company’s financial expenses for Q3 2020 were approximately ¥11.95 million, down from ¥17.43 million in Q3 2019, a decrease of 31.5%[52]. - Research and development expenses for Q3 2020 were approximately ¥310,165, a 16.9% increase from ¥265,300 in Q3 2019[52]. - The company incurred a tax expense of CNY 102,707.05 in the third quarter of 2020, reflecting an increase in profitability[61].