CSI Solar(SH:688472)2023-10-30 16:00Financial Performance - The company's revenue for Q3 2023 was ¥13,014,259,565.22, a decrease of 4.32% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2023 was ¥917,281,310.28, an increase of 14.57% year-over-year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was ¥840,654,044.91, up 21.58% from the previous year[5]. - Total operating revenue for the first three quarters of 2023 reached ¥39.12 billion, an increase of 16.1% compared to ¥33.42 billion in the same period of 2022[23]. - Net profit for the first three quarters of 2023 was ¥2.84 billion, a significant increase of 126.4% compared to ¥1.26 billion in the same period of 2022[24]. - The total comprehensive income for the third quarter of 2023 reached CNY 2,755,772,315.68, compared to CNY 1,161,443,673.03 in the same period last year, reflecting a significant increase[25]. - Basic and diluted earnings per share for the third quarter were CNY 0.87, up from CNY 0.41 in the previous year, indicating a growth of 112.2%[25]. Assets and Liabilities - The total assets at the end of Q3 2023 reached ¥64,893,878,075.63, representing a growth of 34.36% compared to the end of the previous year[11]. - Total assets as of the end of Q3 2023 were ¥64.89 billion, up from ¥48.30 billion at the end of Q3 2022, reflecting a growth of 34.3%[20]. - Total liabilities increased to ¥43.75 billion in Q3 2023, compared to ¥36.56 billion in Q3 2022, marking a rise of 19.7%[20]. - The total owner's equity reached ¥21.15 billion, a significant increase of 80.5% from ¥11.74 billion in Q3 2022[20]. Cash Flow - Cash flow from operating activities for the year-to-date period was ¥5,601,347,339.90, an increase of 138.40% compared to the previous year[6]. - Cash flow from operating activities for the first three quarters of 2023 was CNY 5,601,347,339.90, compared to CNY 2,349,586,928.47 in the same period of 2022, representing an increase of 138.1%[28]. - Total cash inflow from operating activities for the first nine months of 2023 was CNY 47,914,872,980.92, up from CNY 37,296,141,566.12 in 2022, marking a growth of 28.5%[28]. - Cash flow from investing activities showed a net outflow of CNY 6,516,139,686.78 for the first three quarters of 2023, compared to a net outflow of CNY 2,419,467,315.76 in the same period last year[28]. - Cash flow from financing activities generated a net inflow of CNY 6,930,339,615.60 in the first three quarters of 2023, compared to CNY 1,839,816,248.31 in 2022, indicating a substantial increase[29]. - The ending balance of cash and cash equivalents as of the end of September 2023 was CNY 11,187,073,950.18, compared to CNY 5,651,128,490.96 at the end of September 2022, reflecting a growth of 97.5%[29]. Research and Development - The company's R&D investment for Q3 2023 was ¥206,860,305.51, an increase of 70.89% year-over-year, accounting for 1.59% of revenue[6]. - Research and development expenses for the first three quarters of 2023 amounted to ¥485.53 million, representing a 51.2% increase from ¥321.15 million in the previous year[23]. Shareholder Information - Total number of common shareholders at the end of the reporting period was 64,634[14]. - The largest shareholder, Canadian Solar Inc., holds 2,442,171,815 shares, representing 66.22% of total shares[14]. - The company has a total of 4.43% shares held by New Vision Limited, a foreign entity[14]. - The company has a total of 1.36% shares held by Suzhou Qiandu Enterprise Management Partnership, which is under pledge[15]. Strategic Focus - The company plans to continue investing in advanced technologies such as N-type solar cells to enhance its competitive edge in the market[11]. - The company is focusing on market expansion and new product development as part of its growth strategy[16]. - The company has not disclosed any significant mergers or acquisitions during the reporting period[16]. Other Financial Metrics - The company's cash and cash equivalents increased to ¥41.68 billion, up from ¥32.69 billion, indicating a growth of 27.4%[19]. - Accounts receivable increased to ¥7,036,023,616.13 from ¥5,718,324,070.21 year-over-year[17]. - Inventory remained stable at ¥9,134,889,919.82 compared to ¥9,137,086,502.82 at the end of 2022[17]. - The company reported a decrease in financial derivatives assets from ¥121,989,790.38 to ¥73,631,555.36[17]. - Long-term equity investments rose to ¥333.43 million, an increase of 13.0% from ¥294.89 million in the previous year[19]. - The company reported a gross profit margin of approximately 8.4% for the first three quarters of 2023, compared to 6.5% in the same period of 2022[23]. - The company experienced a foreign exchange loss of CNY 81,992,355.71 in the third quarter of 2023, compared to a loss of CNY 90,694,403.55 in the previous quarter[25].