Jinko Power(SH:601778)2022-10-30 16:00Financial Performance - The company's operating revenue for Q3 2022 was CNY 992,605,953.93, a decrease of 1.22% compared to the same period last year[6]. - Net profit attributable to shareholders was CNY 197,510,182.77, representing a year-on-year increase of 16.69%[7]. - The net profit after deducting non-recurring gains and losses was CNY 175,810,260.31, which is a 29.89% increase year-on-year[7]. - Basic earnings per share for Q3 2022 was CNY 0.07, an increase of 16.67% year-on-year[7]. - Total revenue for the first three quarters of 2022 was RMB 2,508,319,864.50, a decrease of 11.3% compared to RMB 2,826,969,089.77 in the same period of 2021[40]. - The company reported a net profit of RMB 96,313,806.43 for the first three quarters, down from RMB 205,684,753.84 in the same period last year, a decline of 53.3%[40]. - The net profit for the current period is CNY 312,424,451.38, a decrease from CNY 333,187,537.31 in the previous period, representing a decline of approximately 2.3%[46]. - The total profit for the current period is CNY 388,350,050.18, down from CNY 429,031,006.97, indicating a decrease of about 9.5%[46]. - The operating profit for the current period is CNY 438,338,267.78, compared to CNY 474,347,511.24 in the previous period, reflecting a decline of approximately 7.6%[46]. - The total comprehensive income for the current period is CNY 330,546,048.88, slightly down from CNY 339,874,040.87 in the previous period, indicating a decrease of approximately 2.4%[46]. - The basic earnings per share for the current period is CNY 0.10, down from CNY 0.12 in the previous period, representing a decline of 16.7%[46]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date period was CNY 1,078,251,990.43, reflecting a 22.21% increase compared to the same period last year[7]. - Cash and cash equivalents increased to RMB 14,810,828,418.75, compared to RMB 11,760,391,654.21, marking a growth of 26.0%[33]. - The cash flow from operating activities for the current period is CNY 1,078,251,990.43, an increase from CNY 882,287,984.11 in the previous period, showing a growth of about 22.2%[50]. - The cash and cash equivalents at the end of the period amount to CNY 4,456,303,210.09, an increase from CNY 3,649,718,268.33 in the previous period, reflecting a growth of about 22.1%[51]. - As of September 30, 2022, the company's cash and cash equivalents amounted to RMB 6,330,017,727.80, an increase from RMB 4,327,247,622.72 at the end of 2021[28]. - Total assets at the end of the reporting period were CNY 36,217,938,203.65, an increase of 20.02% compared to the end of the previous year[7]. - The company's total assets reached RMB 36,217,938,203.65, an increase of 20.5% from RMB 30,175,982,285.10 in the previous year[38]. - The total non-current assets increased to RMB 21,407,109,784.90, up from RMB 18,415,590,630.89, representing a growth of 10.8%[38]. Liabilities and Equity - Total liabilities amounted to RMB 23,664,375,325.89, which is a 33.9% increase from RMB 17,681,184,547.42[36]. - The equity attributable to shareholders of the parent company was RMB 12,440,172,596.09, slightly up from RMB 12,396,539,102.30, indicating a marginal increase of 0.4%[36]. - The company's equity attributable to shareholders was CNY 12,440,172,596.09, showing a slight increase of 0.35% year-on-year[7]. - Short-term borrowings rose significantly to RMB 1,492,709,144.86 from RMB 729,041,687.55, reflecting a 104.0% increase[36]. Project Updates and Future Plans - The company completed a merger with Cordillera Solar I S.A. in June 2022, leading to adjustments in comparative financial data[7]. - The company is adjusting the expected operational status date for the 1GW photovoltaic project in Shihezi to June 2023 due to land use classification issues[24]. - The company is facing delays in several projects due to local land use issues and pandemic-related restrictions[26]. - The company has completed the construction and grid connection of the Tongling project, while other projects are still in progress[26]. - The company plans to issue non-public A-shares to raise up to RMB 299,690,000.00, pending approval from the China Securities Regulatory Commission[22]. - The company has received feedback from the China Securities Regulatory Commission regarding its non-public issuance application, which is still under review[22]. - The company has completed the issuance of the first phase of USD 100 million senior unsecured green bonds for photovoltaic projects[23]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 142,847[15]. - The company has a total of 28,909,219 shares held in a repurchase account, representing 1.00% of the total share capital[21]. Expenses and Costs - Total operating costs for the first three quarters of 2022 were RMB 2,225,375,312.68, down from RMB 2,664,106,393.98, reflecting a reduction of 16.4%[40]. - Research and development expenses increased to RMB 7,519,295.49, up from RMB 3,898,318.36, representing a growth of 92.5% year-over-year[40]. - The company reported a decrease in credit impairment losses of CNY 20,175,716.75 compared to CNY 7,733,502.47 in the previous period, indicating a worsening in credit quality[46]. - The company generated CNY 2,213,207,014.63 from sales of goods and services, which is slightly lower than CNY 2,217,709,541.54 in the previous period, showing a decrease of about 0.2%[47].