KEC(SH:600997)2023-10-30 16:00Financial Performance - The net profit attributable to shareholders of the listed company decreased by 45.62% year-to-date due to a decline in product prices compared to the same period last year [17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 41.53% year-to-date, primarily due to lower product prices [17]. - Basic earnings per share decreased by 46.09% year-to-date, attributed to lower operating income and net profit due to declining product prices [17]. - Total operating revenue for the first three quarters of 2023 was CNY 17,039,542,362.57, a decrease of 10.5% compared to CNY 19,630,630,397.94 in the same period of 2022 [22]. - Operating profit for the first three quarters of 2023 was CNY 1,198,832,053.53, down 48.3% from CNY 2,316,413,764.90 in 2022 [22]. - Net profit attributable to shareholders of the parent company for the first three quarters of 2023 was CNY 990,078,032.19, a decline of 45.6% compared to CNY 1,820,519,600.03 in 2022 [22]. - Net profit attributable to shareholders for the first three quarters was CNY 205,850,352.89, down 56.57% year-on-year [39]. - The net profit excluding non-recurring gains and losses for the first three quarters was CNY 203,969,871.31, a decrease of 53.41% year-on-year [39]. Cash Flow - The net cash flow from operating activities decreased by 73.12% year-to-date, as cash received from sales was reduced more than cash paid for purchases [17]. - Net cash flow from operating activities for the first three quarters was CNY 818,724,113.65, a decrease of 73.12% compared to the previous year [39]. - The net cash flow from investing activities was negative at CNY -827,368,448.81, indicating increased cash outflows for investments [39]. Assets and Liabilities - Total current assets as of September 30, 2023, amounted to CNY 14,432,625,614.87, an increase from CNY 13,547,351,938.00 at the end of 2022 [10]. - Total non-current assets as of September 30, 2023, were CNY 15,378,742,235.83, slightly down from CNY 15,506,208,892.90 at the end of 2022 [10]. - The total assets reached CNY 29,811,367,850.70 as of September 30, 2023, compared to CNY 29,053,560,830.90 at the end of 2022 [10]. - Total liabilities as of the reporting date were CNY 14,203,439,438.15, an increase from CNY 13,316,995,201.99 in the previous year [21]. - Non-current liabilities totaled CNY 3,820,801,915.52, up from CNY 2,592,554,112.72 in the previous year [21]. - The company's total equity was CNY 15,607,928,412.55, a slight decrease from CNY 15,736,565,628.91 in the previous year [21]. - Total assets at the end of the reporting period were CNY 29,811,367,850.70, an increase of 2.61% from the end of the previous year [27]. Shareholder Information - The company’s major shareholder, Kailuan Group, holds 48.12% of the shares, while China Cinda Asset Management holds 21.16% [18]. Expenses - Research and development expenses increased to CNY 273,323,251.80 in 2023, up 29.6% from CNY 210,994,667.72 in 2022 [22]. - The company reported a decrease in sales expenses to CNY 160,603,810.51 from CNY 219,748,162.33 in the previous year, reflecting a cost-saving strategy [22]. - The company’s financial expenses decreased significantly to CNY 72,850,461.12 from CNY 182,245,128.08 in the previous year, indicating improved financial management [22]. Revenue from Investments - The company reported a total revenue of 5,672,800 RMB from Tianhong ZHONGZHENG Dividend Low Volatility 100 Index Fund [44]. - The company also generated 4,776,297 RMB from Invesco Great Wall ZHONGZHENG Dividend Low Volatility 100 ETF [44]. - Shanghai Baosteel International Economic and Trade Co., Ltd. contributed 4,660,000 RMB in revenue [44]. - The Guotai ZHONGZHENG Coal ETF generated 4,514,219 RMB in revenue [44]. - Xu Chao reported a revenue of 3,715,500 RMB [44]. Market Conditions - The company experienced a significant decline in product prices compared to the same period last year, impacting revenue and net profit [29]. - The weighted average return on equity decreased by 1.97 percentage points to 1.46% [27].