wsdl(SH:600995)2023-10-27 16:00Financial Performance - For the first three quarters of 2023, the company's operating revenue was CNY 4,066,825,180.19, a decrease of 13.83% compared to CNY 4,719,783,779.76 in the same period of 2022[2] - The net profit attributable to shareholders for the first three quarters of 2023 was CNY 818,984,862.77, down 34.00% from CNY 1,240,967,016.14 in the previous year[2] - In Q3 2023, the operating revenue was CNY 1,205,945,575.59, reflecting a significant decline of 46.19% compared to the same period last year[4] - The basic earnings per share for Q3 2023 was CNY 0.04, a decrease of 73.33% from CNY 0.15 in Q3 2022[4] - The company's main business revenue for the first three quarters of 2023 was CNY 4,034,752,615.63, a decrease of 14.00% from CNY 4,691,449,923.45 in the previous year[2] - Year-to-date operating revenue decreased by 36.37%, primarily due to the same asset restructuring and reduced water inflow by 55.73%[12] - Year-to-date net profit attributable to shareholders decreased by 37.93%, influenced by the asset restructuring and reduced power generation[12] - Basic and diluted earnings per share fell by 73.33% compared to the previous year, reflecting the decline in net profit attributable to shareholders[12] Asset and Liability Management - The total assets as of the end of the reporting period were CNY 43,502,634,455.28, representing an increase of 6.72% from CNY 40,762,309,036.19 at the end of the previous year[9] - The company's current liabilities totaled RMB 4.36 billion, up from RMB 3.31 billion at the end of 2022, indicating an increase of about 31.8%[22] - Long-term borrowings increased to RMB 13.28 billion from RMB 10.29 billion, reflecting a growth of approximately 29.5% year-over-year[22] - The total equity attributable to shareholders rose to RMB 20.66 billion from RMB 19.92 billion, showing an increase of about 3.7%[22] - The company's inventory increased to RMB 276.57 million from RMB 230.94 million, representing a growth of approximately 19.8%[21] - The company reported a significant increase in long-term equity investments, which rose to RMB 302.18 million from RMB 206.69 million, a growth of about 46.2%[21] Cash Flow Analysis - The net cash flow from operating activities for the year-to-date was CNY 2,763,374,177.77, down 29.78% from CNY 3,935,177,693.40 in the same period last year[4] - Cash flow from operating activities for the first three quarters of 2023 was approximately ¥2.76 billion, a decrease of 29.7% compared to ¥3.94 billion in the same period of 2022[27] - The company reported a net cash flow from operating activities of ¥2,239,119,700.07, compared to a net outflow of ¥2,569,830,382.23 in the previous period[28] - The cash flow from investing activities showed a net inflow of approximately ¥1.13 billion in Q3 2023, compared to a net outflow of about ¥422.99 million in the same quarter last year[36] Operational Challenges - The company experienced a 55.73% decrease in water inflow at the western peak regulation power station compared to 2022[1] - The company highlighted the uncertainty in power generation due to water flow variability in the Hongshui River basin, which may impact operational performance[18] - The company has noted that the operational performance of its peak regulation power plants is closely tied to the water inflow in the region, indicating potential risks in future performance[18] - The company's operating revenue for the reporting period decreased by 46.19% due to significant asset restructuring completed in September 2022, resulting in no related income from the original power assets[12] Shareholder Information - The total number of common shareholders at the end of the reporting period was 50,519[14] - The largest shareholder, China Southern Power Grid Co., Ltd., holds 2,086,904,162 shares, accounting for 65.30% of total shares[14] Research and Development - Research and development expenses for the first three quarters of 2023 were approximately ¥10.74 million, down 44.0% from ¥19.46 million in the same period of 2022[23] - Research and development expenses were reported at ¥9,605.90 in Q3 2023, a substantial decrease from ¥1,958,566.60 in Q3 2022[33] Financial Adjustments - The company reported a non-recurring profit and loss adjustment, indicating that non-recurring items are not classified as regular profit and loss[11] - Other comprehensive income after tax for the first three quarters of 2023 was approximately ¥920.56, compared to a loss of ¥8.39 million in the same period of 2022[24]