CSCEC(SH:601668)2023-10-26 16:00Financial Performance - The company's operating revenue for Q3 2023 reached CNY 557,928,750, representing a year-on-year increase of 17.52% compared to CNY 474,766,792 in the same period last year[4] - The total profit for Q3 2023 was CNY 21,028,627, showing a slight increase of 1.85% from CNY 20,645,792 in the previous year[4] - The net profit attributable to shareholders was CNY 14,680,543, reflecting a decrease of 2.27% compared to CNY 15,022,022 in the same period last year[4] - The company reported a basic earnings per share of CNY 0.35, down 5.41% from CNY 0.37 in the same period last year[4] - The total new contract amount signed in the first three quarters of 2023 reached RMB 3.1027 trillion, a year-on-year increase of 13.8%[14] - Operating revenue for the same period was RMB 1.6712 trillion, reflecting a year-on-year growth of 8.8%[14] - Net profit attributable to shareholders was RMB 43.65 billion, with a slight increase of 0.3% year-on-year[14] - The basic earnings per share stood at RMB 1.05, while the net asset per share attributable to ordinary shareholders was RMB 9.72[14] - The company’s net profit for the first three quarters of 2023 was RMB 11,380,876 thousand, a decrease of 16.3% compared to RMB 13,620,970 thousand in the same period of 2022[29] - Operating revenue for the first three quarters of 2023 was RMB 41,909,801 thousand, down 16.4% from RMB 50,139,333 thousand in the first three quarters of 2022[29] Cash Flow and Liquidity - The net cash flow from operating activities showed a significant outflow of CNY 5,791,410, compared to an inflow of CNY 16,378,755 in the previous year[4] - The company has implemented cash flow management actions to address key issues, resulting in a net cash outflow of CNY 362 million in operating cash flow[8] - Cash flow from operating activities showed a net outflow of approximately $16.35 million in Q3 2023, compared to a net outflow of $52.52 million in Q3 2022[24] - The company's cash and cash equivalents decreased to RMB 14,620,784 thousand from RMB 20,029,597 thousand, a decline of about 26.5%[26] - The net cash flow from operating activities was negative CNY 3,379,472 thousand, worsening from negative CNY 1,763,240 thousand year-over-year[32] - The company's cash and cash equivalents at the end of the period stood at CNY 14,609,342 thousand, down from CNY 19,790,797 thousand at the end of the previous year[33] Assets and Liabilities - The total assets at the end of the reporting period were CNY 2,852,436,527, an increase of 7.52% from CNY 2,652,903,306 at the end of the previous year[4] - The total current assets increased to RMB 2,024,147,152 from RMB 1,874,788,055, marking an increase of about 8%[19] - The total liabilities rose to RMB 2,133,019,239 from RMB 1,972,516,396, representing an increase of approximately 8.1%[20] - The total liabilities as of September 30, 2023, were RMB 198,613,880 thousand, compared to RMB 189,647,826 thousand at the end of 2022, indicating an increase of approximately 4.9%[28] - The total equity as of September 30, 2023, was RMB 146,427,792 thousand, a slight increase from RMB 146,220,500 thousand at the end of 2022[28] Market Position and Strategy - The company remains ranked 13th in the 2023 Fortune Global 500, solidifying its position as the largest investment and construction group globally[14] - The controlling shareholder, China State Construction Group, plans to increase its stake in the company by investing between RMB 5 billion and RMB 10 billion over the next six months[17] - The company aims to adapt to industry changes and optimize its operational strategies to achieve high-quality development and enhance global competitiveness[16] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] - The company has undertaken over 2,600 projects in nearly 100 countries, with a cumulative signed contract amount exceeding RMB 14.6 trillion, contributing to the Belt and Road Initiative[16] Operational Performance - The company experienced a decrease in total profit due to the impact of the real estate market adjustment, despite ongoing business transformation efforts[8] - The company continues to enhance its main business development and project management, leading to stable growth in operating revenue[8] - New contracts in the housing construction sector amounted to RMB 1.9833 trillion, up 11.6% year-on-year, with industrial plant contracts increasing by 57.3%[14] - Infrastructure construction contracts reached RMB 775.6 billion, a growth of 16.2%, with water conservancy contracts surging by 226.5%[14] - Real estate contract sales were RMB 333.5 billion, marking a 22.4% increase year-on-year, with a sales area of 13.29 million square meters[15] - The overseas business signed contracts worth RMB 92.9 billion, a year-on-year increase of 5.1%[15] Investment and Expenses - The company reported a decrease in investment income to $2.62 million in Q3 2023 from $4.58 million in Q3 2022, a decline of 42.5%[22] - The company’s financial expenses decreased to approximately $14.06 million in Q3 2023 from $15.08 million in Q3 2022, a reduction of 6.8%[22] - Research and development expenses for the first three quarters of 2023 were RMB 76,106 thousand, slightly down from RMB 76,297 thousand in the same period of 2022[29] - The company reported a financial expense of RMB 1,477,016 thousand for the first three quarters of 2023, significantly higher than RMB 791,406 thousand in the same period of 2022[29]