WANGNENG(SZ:002034)2023-10-26 16:00Financial Performance - The company's revenue for Q3 2023 was ¥860,286,013.76, a decrease of 0.43% compared to the same period last year[5]. - Net profit attributable to shareholders for Q3 2023 was ¥165,484,573.05, down 19.49% year-on-year[5]. - The net profit after deducting non-recurring gains and losses was ¥162,886,437.42, a decrease of 12.68% compared to the previous year[5]. - The company’s basic earnings per share for Q3 2023 was ¥0.38, down 20.83% year-on-year[5]. - Total operating revenue for Q3 2023 reached CNY 2,400,199,818.60, an increase of 3.1% compared to CNY 2,328,862,513.10 in Q3 2022[25]. - Net profit for Q3 2023 was CNY 509,869,500.91, a decrease of 7.4% from CNY 550,843,905.09 in the same period last year[26]. - Total comprehensive income for the third quarter was approximately CNY 509.87 million, compared to CNY 550.84 million in the previous quarter, reflecting a decrease of about 7.4%[27]. - Basic earnings per share for the third quarter were CNY 1.20, down from CNY 1.26 in the previous quarter, indicating a decline of approximately 4.8%[27]. Assets and Liabilities - The total assets at the end of Q3 2023 amounted to ¥14,619,023,290.93, reflecting a 0.87% increase from the end of the previous year[5]. - The company's total assets increased to CNY 14,619,023,290.93, compared to CNY 14,492,882,312.55 at the end of Q3 2022, representing a growth of 0.9%[23]. - Current liabilities decreased to CNY 2,215,500,793.27 from CNY 2,377,033,104.49, a reduction of 6.8% year-over-year[23]. - Long-term borrowings stood at CNY 4,038,531,145.59, slightly down from CNY 4,039,254,932.29, indicating a marginal decrease[23]. - The company reported a total equity of CNY 6,538,749,950.19, an increase from CNY 6,274,718,448.10, reflecting a growth of 4.2%[23]. Cash Flow - The cash flow from operating activities for the year-to-date was ¥819,364,337.87, an increase of 27.07%[5]. - Net cash flow from operating activities increased to CNY 819.36 million, up from CNY 644.82 million in the previous period, representing a growth of about 27.1%[30]. - Cash inflow from operating activities totaled CNY 2.23 billion, compared to CNY 2.13 billion in the same period last year, marking an increase of approximately 4.6%[29]. - Cash outflow for investment activities was CNY 918.29 million, a decrease from CNY 1.46 billion in the previous year, showing a reduction of about 37.1%[30]. - Net cash flow from financing activities was negative at CNY 291.44 million, compared to a positive CNY 290.27 million in the same period last year[30]. - The ending balance of cash and cash equivalents was CNY 554.69 million, down from CNY 663.00 million at the end of the previous period, reflecting a decrease of approximately 16.4%[30]. - The company reported a net increase in cash and cash equivalents of CNY -286.60 million for the period, compared to CNY -324.73 million in the previous year[30]. Business Segments - The revenue from waste incineration disposal business showed growth, while the resource regeneration segment reported a loss of ¥31.04 million compared to a profit of ¥14.57 million in the previous year[6]. - The revenue from the recycling rubber segment increased significantly by 1227.35% year-on-year, reaching ¥71,598,148.99[12]. - The company adopted a production model of "less self-production, more processing" in its lithium battery recycling business, with a total output of 1,471.44 tons of cobalt, nickel, and lithium during the reporting period[19]. Shareholder and Financing Activities - The company’s major shareholder, Meixinda Group, holds 33.26% of the shares, while the actual controller, Dan Jianming, holds 17.34%[15]. - The company’s financing activities include shareholder Song Na participating in margin trading with 6.38 million shares and Chen Xuewei with 5.56 million shares[16]. - The company’s short-term borrowings increased by 66.05% to ¥266,000,000.00, indicating a rise in working capital loans[11]. Government Support and Projects - The company received tax refunds of ¥124,348,921.58, a 36.17% increase compared to the previous year[11]. - The company secured central government funding of RMB 10.25 million for Dingxi Environmental Protection and RMB 10 million for Nantong Huili during the reporting period[17]. - The company has completed the legalization of industrial waste co-incineration for 14 project companies, including Tongren Wangneng during the reporting period[18]. - A wholly-owned subsidiary, Songtao Wangneng Environmental Energy Co., Ltd., was established with a registered capital of RMB 10 million, focusing on urban waste management services[18]. - The company established a 12-year franchise agreement for urban waste collection and transportation services in Songtao Miao Autonomous County[18]. Research and Development - Research and development expenses increased to CNY 73,529,508.28, up from CNY 63,800,848.62, marking a rise of 15.5%[26]. Accounting and Audit - The company has not undergone an audit for the third quarter report[32]. - The report indicates that the company has adopted new accounting standards starting from 2023[31].