Jinko Power(SH:601778)2023-10-30 16:00Revenue and Profit Growth - The company's operating revenue for the third quarter increased by 76.55% compared to the previous quarter, primarily due to the increase in household sales [5]. - Year-to-date operating revenue increased by 39.66%, attributed to the growth in sales volume and the expansion of the company's power station capacity [5]. - The net profit attributable to shareholders, excluding non-recurring gains and losses, increased by 41.18% year-to-date, driven by higher gross profits from power generation due to increased power station capacity [5]. - The company's operating revenue for the current reporting period reached CNY 1,752,445,909.50, representing a 76.55% increase compared to CNY 992,605,953.93 in the same period last year [18]. - Net profit attributable to shareholders was CNY 251,763,530.10, a 27.14% increase from CNY 197,510,182.77 year-on-year [24]. - The net profit after deducting non-recurring gains and losses was CNY 248,941,989.20, reflecting a 41.18% increase from CNY 175,810,260.31 in the previous year [24]. - Operating profit reached CNY 571,309,957.93, up from CNY 438,338,267.78, reflecting a growth of 30.3% year-over-year [57]. - The total revenue from sales of goods and services for the first three quarters of 2023 was CNY 2,904,428,510.21, compared to CNY 2,213,207,014.63 in the same period of 2022, marking an increase of 31.2% [58]. - The company reported a net profit of CNY 399,011,671.70 for the current reporting period, an increase of 27.1% compared to CNY 313,810,150.50 in the same period last year [57]. Cash Flow and Financing Activities - The net cash flow from operating activities year-to-date was not applicable, mainly due to increased payments related to project engineering progress for assets held for sale [6]. - The company raised approximately RMB 2.99 billion from investment activities in the current quarter, compared to RMB 1.19 billion in the same period last year [15]. - The total cash inflow from financing activities was RMB 8.35 billion, an increase from RMB 8.08 billion year-on-year [15]. - The net cash flow from financing activities was RMB 2.84 billion, up from RMB 1.90 billion in the previous year [15]. - The company's cash flow from operating activities was negative at CNY -701,597,078.89, compared to CNY 1,078,251,990.43 in the same period last year [24]. - The company’s cash outflow from operating activities totaled ¥3,847,635,076.67, significantly higher than ¥1,839,955,260.05 in the same period of 2022 [39]. Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 41,720,248,438.26, an increase of 11.17% from CNY 37,527,359,013.51 at the end of the previous year [24]. - The company's total liabilities increased, with short-term borrowings rising to CNY 1,784,142,381.25 from CNY 1,258,516,614.57 year-on-year [34]. - The company reported a total of CNY 3,162,210,181.94 in inventory, significantly up from CNY 1,408,424,937.37 in the previous year [34]. - The company's total liabilities as of the end of the reporting period amounted to ¥25,977,903,230.44, up from ¥24,996,502,935.45 in the previous year, reflecting an increase of approximately 3.9% [36]. - The total equity attributable to shareholders of the parent company increased to ¥15,618,952,336.89 from ¥12,414,989,022.53, marking a growth of about 25.5% [36]. - The long-term borrowings increased to ¥6,764,196,486.77 from ¥4,968,602,083.20, representing a rise of approximately 36.1% [36]. - The total assets of the company reached ¥41,720,248,438.26, compared to ¥37,527,359,013.51 in the previous year, indicating an increase of about 11.7% [36]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 140,188 [6]. - The largest shareholder, Jinko Solar Group Co., Ltd., holds 23.90% of the shares, with a total of 853,400,000 shares [6]. Research and Development - Research and development expenses for the first three quarters of 2023 were ¥4,262,152.51, down from ¥7,519,295.49 in the same period of 2022, indicating a decrease of approximately 43.1% [41]. Investment and Projects - The company has completed project filing and environmental assessment procedures for the Hainan project and is currently processing connection approval procedures [51]. - The company plans to utilize remaining funds from convertible bonds for new photovoltaic projects, including a 70MW agricultural-light complementary project and a 200MW photovoltaic project [51]. - The company reported a net increase in cash inflow from investment activities of ¥822,573,225.99, compared to ¥252,372,441.92 in the previous year, showing a substantial increase [39]. Earnings Per Share - The basic earnings per share for the current period was CNY 0.07, consistent with the previous period, while diluted earnings per share increased by 16.67% to CNY 0.07 [24]. - The basic earnings per share for the current period was CNY 0.12, compared to CNY 0.10 in the same period last year, indicating a 20% increase [58]. Other Financial Metrics - The weighted average return on equity increased by 0.03 percentage points to 1.63% compared to the previous year [24]. - Non-recurring gains and losses totaled CNY 2,821,540.90 for the current period, a decrease from CNY 35,739,121.01 in the same period last year [20]. - The company experienced a credit impairment loss of CNY -45,947,705.20, which is an increase in losses compared to CNY -20,175,716.75 from the previous year [57]. - The company reported a total comprehensive income of CNY 436,209,700.35, compared to CNY 331,931,748.00 in the previous year, reflecting a growth of 31.4% [58].