长源电力(000966) - 2020 Q3 - 季度财报

Financial Performance - Net profit attributable to shareholders was ¥94,288,815.67, a decrease of 60.73% year-on-year[7]. - Operating revenue for the period was ¥1,467,149,746.55, down 30.24% compared to the same period last year[7]. - Basic earnings per share were ¥0.0851, reflecting a decline of 60.71% year-on-year[7]. - The company reported a net profit attributable to shareholders of ¥227,435,435.82 for the year-to-date, down 54.04% year-on-year[7]. - The company's net profit for the first nine months of 2020 was ¥234,619,230.44, a decrease of 54.13% year-on-year, primarily due to a decline in power generation and utilization hours[21]. - The total profit for the first nine months of 2020 was ¥367,328,629.67, down 48.85% compared to the same period last year, attributed to reduced power generation and operating profit[21]. - Total operating revenue for Q3 2020 was CNY 1,467,149,746.55, a decrease of 30.2% compared to CNY 2,102,991,755.42 in the same period of 2019[58]. - Net profit for Q3 2020 was CNY 94,665,375.69, down 62.7% from CNY 253,853,751.40 in Q3 2019[60]. - The total comprehensive income for the current period is CNY 234,566,866.63, down from CNY 509,792,237.62 in the previous period, a decline of 54.0%[70]. Cash Flow - The net cash flow from operating activities for the year-to-date was ¥636,032,698.16, a decrease of 55.97% compared to the previous year[7]. - The cash flow from operating activities for the first nine months of 2020 was ¥636,032,698.16, a decrease of 55.97% year-on-year, mainly due to reduced operating income[23]. - Total cash inflow from operating activities was ¥5,122,980,969.61, down 27.38% from ¥7,054,723,902.88 in the previous period[78]. - Cash outflow from operating activities totaled ¥4,486,948,271.45, a decrease of 20.03% compared to ¥5,610,263,650.74 in the previous period[78]. - The ending cash and cash equivalents balance was ¥192,227,249.99, down 59.83% from ¥478,105,563.81 in the previous period[80]. - The net cash flow from operating activities was -196,865,333.24 CNY, a significant decline compared to 31,862,134.71 CNY in the previous period, indicating a negative cash flow trend[81]. - Cash inflow from investment activities totaled 224,561,993.69 CNY, down from 256,782,156.05 CNY in the previous period, reflecting a decrease in investment returns[81]. - Cash outflow for investment activities was 138,767,826.52 CNY, an increase from 114,955,200.00 CNY in the previous period, indicating higher capital expenditures[82]. - The net cash flow from financing activities was 130,085,640.80 CNY, a recovery from a negative cash flow of -131,959,440.39 CNY in the previous period, suggesting improved financing conditions[82]. Assets and Liabilities - Total assets at the end of the reporting period reached ¥9,792,189,047.39, an increase of 0.50% compared to the end of the previous year[7]. - As of September 30, 2020, the total current assets amounted to CNY 1,613,858,632.83, an increase of 13.5% from CNY 1,421,717,550.85 on December 31, 2019[44]. - The total non-current assets as of September 30, 2020, were CNY 8,178,330,414.56, down from CNY 8,321,941,607.10, representing a decrease of 1.7%[46]. - Total liabilities amounted to CNY 5,327,058,437.12, slightly up from CNY 5,324,959,772.08, indicating a marginal increase of 0.04%[48]. - The total liabilities as of September 30, 2020, were ¥1,897,110,188.99[99]. - The company's non-current liabilities as of September 30, 2020, amounted to ¥1,967,962,522.49, an increase of 41.60% compared to the beginning of the period, primarily due to bond issuance[21]. Shareholder Information - The total number of shareholders at the end of the reporting period was 44,197[11]. - The largest shareholder, State Energy Investment Group, holds 37.39% of the shares[11]. Investments and Projects - The company plans to acquire 100% equity of Guodian Hubei Electric Power Co., Ltd. from China Energy Investment Corporation and is in the process of due diligence and asset stripping[27]. - The company decided to invest in a 2×66 MW coal-fired power project in Suizhou, Hubei Province, to enhance market competitiveness[28]. - The registered capital of the newly established Suizhou Company was increased from 100 million yuan to 1.5 billion yuan, with the company contributing 825 million yuan for a 55% stake[29]. - The company successfully issued a 500 million yuan super short-term financing bond on March 4, 2020, and completed its repayment by August 24, 2020[30]. - The company issued a second tranche of 500 million yuan super short-term financing bonds on September 17, 2020[32]. Revenue Recognition Changes - The company implemented a new revenue recognition standard starting January 1, 2020, affecting the reporting of contract liabilities[92]. - Contract liabilities were reported at ¥50,705,635.88 as of January 1, 2020, previously recorded as advance receipts[93]. - As of September 30, 2020, contract liabilities under the new revenue standard were ¥86,971,033.83[94]. - The cumulative impact of the new revenue standard was adjusted to retained earnings and other relevant financial statement items as of January 1, 2020, without adjusting comparative period information[108].