HDECL(SH:900937)2021-10-29 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥1,691,925,365.01, a decrease of 20.18% compared to the same period last year[6] - The net profit attributable to shareholders was -¥945,387,163.21, with a year-to-date net profit of -¥1,468,311,141.29, indicating significant losses[6] - The basic and diluted earnings per share for the quarter were both -¥0.481, reflecting the company's financial struggles[7] - Total operating revenue for the first three quarters of 2021 was CNY 6,916,946,032.46, a decrease of 8.67% compared to CNY 7,573,900,980.70 in the same period of 2020[20] - Net profit for the first three quarters of 2021 was a loss of CNY 1,562,572,802.43, compared to a loss of CNY 705,705,955.01 in the same period of 2020[21] - The net profit attributable to the parent company for Q3 2021 was -1,468,311,141.29 RMB, compared to -657,387,699.39 RMB in Q3 2020, indicating a significant increase in losses[22] - The total comprehensive income attributable to the parent company for Q3 2021 was -1,298,390,184.80 RMB, compared to -644,375,212.50 RMB in Q3 2020, reflecting a worsening financial position[22] - Basic earnings per share for Q3 2021 was -0.747 RMB, compared to -0.330 RMB in Q3 2020, indicating a decline in profitability[22] Assets and Liabilities - The total assets at the end of the reporting period were ¥21,737,038,889.05, down 4.34% from the previous year[7] - Total assets as of September 30, 2021, were CNY 21,737,038,889.05, down from CNY 22,723,956,365.43 at the end of 2020[18] - Total liabilities as of September 30, 2021, increased to CNY 22,303,519,030.96 from CNY 21,913,146,571.91 at the end of 2020[18] - Current assets decreased to CNY 3,957,056,067.63 from CNY 4,269,389,406.92 at the end of 2020, a decline of approximately 7.31%[16] - Current liabilities increased to CNY 11,116,582,713.32 from CNY 10,201,792,674.73, reflecting a rise of about 8.96%[17] - Long-term borrowings decreased to CNY 8,204,237,037.18 from CNY 10,097,231,352.90, a reduction of approximately 18.69%[18] - The company's total equity as of September 30, 2021, was negative CNY 566,480,141.91, compared to positive CNY 810,809,793.52 at the end of 2020[18] - The total liabilities amounted to approximately ¥21.91 billion, indicating a high leverage ratio[28] Cash Flow - The company reported a net cash flow from operating activities of -¥508,167,585.42 for the year-to-date, a decline of 175.29%[7] - The net cash flow from operating activities for the first three quarters of 2021 was -508,167,585.42 RMB, a decline from 674,929,688.46 RMB in the same period of 2020[23] - Cash inflows from operating activities totaled 9,001,190,999.35 RMB in the first three quarters of 2021, down from 9,492,855,071.13 RMB in 2020[23] - The net cash flow from investing activities for the first three quarters of 2021 was -772,007,453.93 RMB, compared to -340,555,679.27 RMB in the same period of 2020, indicating increased investment losses[24] - The net cash flow from financing activities for the first three quarters of 2021 was 1,350,152,891.59 RMB, a significant increase from 53,291,397.22 RMB in 2020[24] - The total cash and cash equivalents at the end of Q3 2021 amounted to 1,538,140,869.44 RMB, down from 1,823,399,816.24 RMB at the end of Q3 2020[24] Operational Challenges - The company experienced a significant increase in fuel costs, which contributed to the decline in profit margins and overall performance[8] - The company faced 8 significant legal disputes with a total amount involved of approximately ¥103.558 million[13] - The company plans to liquidate its subsidiary, Huadian Zhangwu Power Generation Co., Ltd., due to its long-term inactive status[13] - The company incurred a total operating cash outflow of 9,509,358,584.77 RMB in the first three quarters of 2021, compared to 8,817,925,382.67 RMB in the same period of 2020, reflecting increased operational costs[23] Investments and Financing - The company has approved project financing of up to ¥1.4 billion for its wholly-owned Fularqi Power Plant[13] - Research and development expenses for the first three quarters of 2021 were CNY 6,919,064.01, up from CNY 5,955,990.69 in 2020, indicating an increase of about 16.14%[21] - The company has a capital reserve of approximately ¥1.71 billion and issued capital of approximately ¥1.97 billion[29] - The total current assets represent about 18.8% of total assets, indicating a relatively liquid position[28] - The company has a deferred tax asset of approximately ¥80.44 million, which may provide future tax benefits[27]