长源电力(000966) - 2023 Q3 - 季度财报

Financial Performance - The company's operating revenue for Q3 2023 was CNY 3,752,714,214.93, a decrease of 18.07% compared to the same period last year[9]. - Net profit attributable to shareholders for Q3 2023 was CNY 261,223,522.67, an increase of 60.85% year-on-year[9]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 257,115,543.28, up 60.02% from the previous year[9]. - Basic earnings per share for Q3 2023 was CNY 0.0950, a 59.93% increase year-on-year[9]. - The total profit for the period from January to September 2023 was 882,386,960.34 CNY, an increase of 116.78% compared to the previous period, primarily due to a decrease in the comprehensive coal price and an increase in hydropower generation[18]. - The company reported a comprehensive income total of 673.23 million yuan, up from 178.66 million yuan[48]. - The company's net profit for the current period is 673,228,303.91, a significant increase from 258,875,007.20 in the previous period, representing a growth of approximately 160%[67]. - Operating profit for the current period reached 873,563,807.07, compared to 399,179,116.18 in the previous period, indicating a growth of about 119%[67]. - The total profit for the current period is 882,386,960.34, compared to 407,035,724.88 in the previous period, reflecting an increase of about 117%[67]. Cash Flow and Investments - The net cash flow from operating activities for the year-to-date period was CNY 1,548,754,728.14, representing a 65.50% increase compared to the same period last year[9]. - The cash received from investment income was 16,068,996.49 CNY, a decrease of 86.50% compared to the previous period, primarily due to reduced dividends from associated companies[18]. - The net cash received from the disposal of fixed assets, intangible assets, and other long-term assets was 4,440,994.85 CNY, an increase of 283.58% compared to the previous period, attributed to increased cash inflow from the disposal of fixed assets by the company's power plants[18]. - Cash inflow from operating activities totaled 13,036,236,065.38, slightly down from 13,325,922,044.02 in the previous period[68]. Assets and Liabilities - Total assets as of September 30, 2023, were CNY 35,109,025,777.70, reflecting a 13.86% increase from the end of the previous year[9]. - The total long-term loans as of September 30, 2023, were 13,675,676,979.80 CNY, an increase of 42.06% compared to the beginning of the period, mainly due to increased long-term loans for infrastructure projects[27]. - Total liabilities increased from 20.98 billion yuan to 24.46 billion yuan, marking an increase of approximately 16.5%[43]. - Non-current liabilities increased to 13.676 billion CNY from 9.627 billion CNY, reflecting changes in financing strategies[63]. Inventory and Contract Liabilities - The company's inventory increased by 68.03% to CNY 952,433,921.51 due to increased fuel for new thermal power unit commissioning[16]. - Contract liabilities rose by 81.69% to CNY 84,548,394.52, primarily due to an increase in pre-collected heating fees[16]. - Inventory increased significantly from 566.84 million yuan to 952.43 million yuan, representing an increase of approximately 67.8%[40]. Research and Development - Research and development expenses for the period from January to September 2023 amounted to 18,871,454.47 CNY, an increase of 391.07% compared to the previous period, reflecting the company's increased investment in R&D[28]. - Research and development expenses increased significantly to 18.871 million CNY from 3.843 million CNY in the previous period, indicating a focus on innovation[65]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 114,301, with the largest shareholder, State Energy Investment Group, holding 67.50% of the shares[19]. - The total minority shareholder equity as of September 30, 2023, was 345,415,453.06 CNY, an increase of 33.67% compared to the beginning of the period, due to investments from minority shareholders in certain photovoltaic companies[27]. Financing and Strategic Plans - The company plans to engage in financing leasing business with Guoneng Financing Leasing, with an annual limit of up to 2 billion yuan for two years[39]. - The company plans to engage in commercial factoring business with a maximum annual amount of 1 billion CNY to optimize its debt structure[59]. Operational Performance - The company achieved a total power generation of 24.399 billion kWh in the first three quarters, a decrease of 2.18% year-on-year, and grid-connected power generation of 23.182 billion kWh, down 1.59% year-on-year[57]. - The company anticipates uncertainty in power generation for the fourth quarter due to unclear winter temperatures and social electricity demand[58].