*ST惠天(000692) - 2022 Q3 - 季度财报

Major Financial Data Core Financial Indicators The company experienced a significant year-on-year increase in operating revenue but reported a substantial net loss and negative shareholder equity in the first three quarters of 2022 Core Financial Indicators | Indicator | Year-to-Date | Year-to-Date vs. Prior Year Change | | :--- | :--- | :--- | | Operating Revenue (billion yuan) | 1.19 | 13.51% | | Net Profit Attributable to Shareholders of Listed Company (billion yuan) | -1.11 | -481.87% | | Net Cash Flow from Operating Activities (million yuan) | -220.42 | 62.26% | | Basic Earnings Per Share (yuan/share) | -2.0776 | -481.80% | | Indicator | End of Reporting Period | End of Reporting Period vs. End of Prior Year Change | | Total Assets (billion yuan) | 4.97 | -14.91% | | Owners' Equity Attributable to Shareholders of Listed Company (billion yuan) | -1.04 | -1,698.35% | Non-Recurring Gains and Losses From the beginning of the year to the end of the reporting period, the company recorded total non-recurring gains and losses of approximately 6.72 million yuan, mainly from government subsidies and debt restructuring gains, which partially offset losses Non-Recurring Gains and Losses | Item | Year-to-Date Amount (yuan) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 1,869,071.06 | | Government Subsidies Included in Current Profit/Loss | 8,161,703.57 | | Debt Restructuring Gains/Losses | 3,072,560.55 | | Net Other Non-Operating Income/Expenses | -3,227,742.74 | | Total | 6,723,184.23 | Analysis of Significant Changes in Financial Indicators and Reasons Significant changes in financial indicators, including net profit decline and improved operating cash flow, are primarily attributed to rising coal costs, one-time employee compensation, and reduced payments - Net profit attributable to shareholders decreased by 481.87% year-on-year from the beginning of the year to the end of the reporting period, primarily due to increased coal costs compared to the same period last year[9] - Net profit attributable to shareholders for the current reporting period (Q3) decreased by 55.04% year-on-year, mainly due to economic compensation paid to employees for buyouts as part of the company's institutional reform[9] - Net cash flow from operating activities improved by 62.26% year-on-year, primarily due to reduced payments for heating fees and coal during the reporting period compared to the same period last year[9] - Owners' equity attributable to shareholders of the listed company plummeted by 1698.35% compared to the beginning of the year, mainly due to the reduction in undistributed profits caused by losses during the reporting period[9] Shareholder Information Common Shareholder Holdings As of the end of the reporting period, the company had a total of 37,270 common shareholders, with the largest shareholder, Shenyang Rundian Heat Power Co., Ltd., holding 29.99% of shares, the majority of which are pledged - At the end of the reporting period, the company had 37,270 common shareholders[11] Top Ten Shareholders' Holdings | Shareholder Name | Shareholder Nature | Holding Percentage | Number of Shares Held | Share Status | Pledged Shares | | :--- | :--- | :--- | :--- | :--- | :--- | | Shenyang Rundian Heat Power Co., Ltd. | State-owned Legal Entity | 29.99% | 159,796,608 | Pledged | 145,046,490 | Other Important Matters The company faced immense pressure from high coal prices in 2022 and is actively seeking national industrial policy support, while also implementing diversified measures to mitigate the adverse impact of rising costs - The company's main operational challenge in 2022 was the sustained high coal prices, which put immense pressure on coal procurement and cost control[13] - To address cost pressure, the company adopted various measures, including: seeking national industrial policy assistance, expanding procurement channels (e.g., agency procurement), and striving for long-term agreement prices[13] Quarterly Financial Statements Consolidated Balance Sheet The consolidated balance sheet as of September 30, 2022, shows a decrease in total assets, an increase in liabilities, and a shift to negative shareholder equity, indicating insolvency Consolidated Balance Sheet | Item | September 30, 2022 (billion yuan) | January 1, 2022 (billion yuan) | | :--- | :--- | :--- | | Total Assets | 4.97 | 5.84 | | Total Liabilities | 5.97 | 5.72 | | Total Owners' Equity Attributable to Parent Company (billion yuan) | -1.04 | 0.06 | | Total Owners' Equity (million yuan) | -999.53 | 121.30 | Consolidated Income Statement Year-to-Date The year-to-date consolidated income statement reveals a substantial increase in operating revenue offset by a sharp rise in operating costs, resulting in a significant net loss Consolidated Income Statement | Item | Current Period Amount (billion yuan) | Prior Period Amount (billion yuan) | | :--- | :--- | :--- | | I. Total Operating Revenue | 1.19 | 1.05 | | II. Total Operating Costs | 2.33 | 1.35 | | Of which: Operating Costs | 2.03 | 1.15 | | III. Operating Profit (billion yuan) | -1.13 | -0.19 | | Net Profit Attributable to Parent Company Shareholders (billion yuan) | -1.11 | -0.19 | Consolidated Cash Flow Statement Year-to-Date The year-to-date consolidated cash flow statement shows improved operating cash flow, continued investment outflows, and significant financing inflows, impacting the period-end cash balance Consolidated Cash Flow Statement | Item | Current Period Amount (million yuan) | Prior Period Amount (million yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -220.42 | -583.99 | | Net Cash Flow from Investing Activities | -79.40 | 214.76 | | Net Cash Flow from Financing Activities | 264.05 | 453.16 | | Cash and Cash Equivalents at Period-End | 219.16 | 218.42 | Audit Information The company's 2022 third-quarter report is unaudited - The company's third-quarter report is unaudited[24]