Linyang Energy(SH:601222)2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥1,414,746,202.74, representing a decrease of 3.54% compared to the same period last year[6]. - The net profit attributable to shareholders was ¥301,270,884.16, down 21.89% year-over-year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥303,041,546.27, a decrease of 17.54% compared to the previous year[6]. - The basic earnings per share for the quarter was ¥0.17, reflecting a decline of 22.73% year-over-year[8]. - The weighted average return on equity was 2.40%, a decrease of 1.14 percentage points compared to the same period last year[8]. - Total operating revenue for the first three quarters of 2021 was CNY 4,124,071,686.87, a decrease of 6.67% compared to CNY 4,418,008,766.05 in the same period of 2020[27]. - Net profit for the first three quarters of 2021 was CNY 846,743,589.22, a decline of 9.67% compared to CNY 937,604,330.17 in the same period of 2020[29]. - Basic earnings per share for the first three quarters of 2021 was CNY 0.49, down from CNY 0.54 in the same period of 2020[31]. - The company reported a total profit of CNY 976,085,385.60 for the first three quarters of 2021, down 7.43% from CNY 1,054,611,999.47 in the same period of 2020[29]. Cash Flow and Investments - The net cash flow from operating activities for the year-to-date was ¥388,243,546.84, down 43.29% compared to the same period last year[6]. - Cash flow from operating activities for the first three quarters of 2021 was CNY 388,243,546.84, a decrease of 43.36% compared to CNY 684,553,772.22 in the same period of 2020[33]. - Cash inflow from investment activities increased significantly to CNY 8,457,136,570.32, up from CNY 5,464,237,645.52 year-on-year[33]. - The net cash flow from investment activities was 572,578,518.32 CNY, a significant improvement from the negative 748,596,119.49 CNY in the same period last year[35]. - The company invested 7,635,005,383.37 CNY in cash for investments, compared to 5,992,507,754.23 CNY in the previous year, indicating a 27.4% increase[35]. - The company reported a net cash outflow from financing activities of 610,454,033.49 CNY, contrasting with a net inflow of 543,590,781.06 CNY in the same quarter last year[35]. Assets and Liabilities - Total assets at the end of the reporting period were ¥20,551,301,117.65, an increase of 3.75% from the end of the previous year[8]. - The company's total assets amounted to 19,809,328,084.39 CNY, a decrease of 656,529,485.64 CNY from the previous year[39]. - The total liabilities reached 6,739,591,317.83 CNY, with a notable increase in non-current liabilities due to long-term borrowings of 2,059,132,726.26 CNY[39]. - The total liabilities decreased to RMB 6,172,353,003.62 as of September 30, 2021, from RMB 8,820,449,592.69 at the end of 2020, a decline of approximately 30.00%[25]. - The company’s long-term equity investments remained stable at 100,524,554.43 CNY, indicating no significant changes[39]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 123,006, with the largest shareholder, Qidong Huahong Electronics Co., Ltd., holding 715,241,427 shares, accounting for 34.72% of the total shares[13]. - The company has a repurchase account holding 21,956,999 shares, representing 1.07% of the total share capital[15]. - The company’s major shareholders include domestic and foreign entities, with the top ten shareholders holding a significant portion of the shares[13]. - The company has not disclosed any known relationships among other shareholders or whether they are acting in concert[15]. Strategic Initiatives - The company signed an investment cooperation agreement with the government of Wuhua County to invest in a total of 1.5GW solar power and 0.5GW wind power projects, with a total investment of RMB 10.8 billion[16]. - A joint venture, Jiangsu Yiwei Linyang Energy Technology Co., Ltd., was established with a registered capital of RMB 100 million, where the company holds 35%[16]. - The company plans to develop distributed photovoltaic projects with a total installed capacity of approximately 670MW and a shared energy storage station of 100MW/200MWh[18]. - The company has established a joint venture with China Three Gorges Capital and others, with a registered capital of RMB 1 billion, where the company contributes RMB 375 million, accounting for 37.5%[16]. - The company is collaborating with Huaneng Jiangsu Energy Development Co., Ltd. on existing photovoltaic project acquisitions and new project developments[18]. - The company’s subsidiary, Jiangsu Linyang New Energy Technology Co., Ltd., has signed agreements to promote renewable energy projects in various regions[18]. Accounting and Standards - The company has adopted new leasing standards, which impacted the financial statements starting from January 1, 2021, but specific financial impacts were not detailed[37]. - The company implemented the revised accounting standards for leases effective January 1, 2021, impacting the recognition of right-of-use assets and lease liabilities[41].