2023-10-27 16:00Financial Performance - In Q3 2023, China Shenhua reported operating revenue of RMB 83,025 million, a decrease of 2.2% compared to RMB 84,910 million in the same period last year[3] - The net profit attributable to shareholders was RMB 14,990 million, down 16.7% from RMB 17,987 million year-on-year[3] - The net profit after deducting non-recurring gains and losses was RMB 14,841 million, reflecting a decrease of 17.1% compared to RMB 17,897 million in the previous year[3] - The total revenue for the first nine months of 2023 was 200,135 million RMB, a slight increase of 0.2% from 199,801 million RMB in the same period of 2022[19] - The gross profit for the first nine months of 2023 was 60,908 million RMB, down 16.4% from 72,836 million RMB in the same period of 2022[19] - The total profit for the first nine months of 2023 was 44,422 million RMB, a decrease of 20.3% from 55,713 million RMB in the same period of 2022[19] - The net profit attributable to shareholders of the parent company for the first three quarters was RMB 48,269 million, down 18.4% from RMB 59,152 million in the same period last year[33] - Total comprehensive income attributable to the parent company was CNY 48,728 million, down from CNY 59,880 million year-over-year, representing a decrease of approximately 18.0%[34] Revenue and Sales - The average selling price of coal in the first nine months of 2023 was 583 RMB per ton, down from 629 RMB per ton in the same period of 2022, reflecting a decrease of 7.3%[18] - The sales volume of self-produced coal was 242.7 million tons in the first nine months of 2023, with a gross profit margin of 44.1%[20] - The company reported a significant increase in purchased coal sales volume, which reached 89.8 million tons in the first nine months of 2023, up 42.5% from 72.0 million tons in the same period of 2022[16] - Coal sales volume for Q3 2023 was 114.6 million tons, up 15.6% from 99.1 million tons in Q3 2022[16] Costs and Expenses - The company experienced a 9.0% increase in operating costs, totaling RMB 163,749 million, primarily due to increased coal purchase volumes and production costs[9] - The income tax expense increased by 25.9% to RMB 13,552 million, influenced by prior year overpayments being deducted from current tax liabilities[9] - The unit production cost of self-produced coal increased to 191.0 RMB per ton in the first nine months of 2023, up 11.9% from 170.7 RMB per ton in the same period of 2022[21] - The gross margin decreased to 30.4% in the first nine months of 2023, down 6.1 percentage points from 36.5% in the same period of 2022[19] Assets and Liabilities - Total assets at the end of the reporting period were RMB 624,726 million, a slight increase of 0.5% from RMB 621,701 million at the end of the previous year[5] - The total liabilities decreased to RMB 154,438 million from RMB 162,524 million at the end of 2022, indicating a reduction of 4.3%[31] - The company's long-term borrowings decreased to RMB 30,638 million from RMB 38,438 million, a decrease of 20.5%[31] - The company's cash and cash equivalents decreased to RMB 147,706 million from RMB 170,503 million at the end of 2022, reflecting a decline of 13.4%[30] Cash Flow - The net cash flow from operating activities for the first nine months of 2023 was RMB 74,720 million, a decrease of 18.0% compared to the same period in 2022, influenced by lower coal sales revenue and increased production costs[12] - Cash inflow from operating activities totaled CNY 263,081 million, a decrease of 7.1% from CNY 283,294 million in the previous year[35] - Net cash flow from investing activities was negative RMB 28,481 million, an increase of 29.5% compared to the previous year, due to increased cash expenditures on construction projects and long-term assets[12] - Cash inflow from financing activities was CNY 9,512 million, down from CNY 17,204 million year-over-year, a decrease of about 44.5%[36] Production and Generation - In Q3 2023, coal production reached 81.3 million tons, an increase of 4.5% compared to 77.8 million tons in Q3 2022[16] - In Q3 2023, the total power generation was 56.03 billion kWh, a decrease of 2.7% compared to 57.58 billion kWh in Q3 2022[22] - The company’s gas-fired power generation increased by 43.0% in Q3 2023, reaching 1.23 billion kWh compared to 0.86 billion kWh in Q3 2022[22] - The company’s photovoltaic power generation surged by 350.0% in Q3 2023, totaling 0.09 billion kWh compared to 0.02 billion kWh in Q3 2022[22] Investments and Development - Investment income rose by 39.1% to RMB 2,964 million, attributed to increased returns from investments in power generation and railway joint ventures[9] - Long-term equity investments rose by 9.9% to RMB 54,565 million, reflecting additional capital contributions to financial companies and recognition of share of profits from joint ventures[11] - The company added 217 MW of new photovoltaic capacity in the first nine months of 2023, bringing the total installed capacity to 40,518 MW[24] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 142,259, with the largest shareholder, State Energy Investment Group, holding 69.52% of the shares[13] - Basic and diluted earnings per share were CNY 2.429, compared to CNY 2.977 in the same period last year, reflecting a decline of about 18.4%[34]