CNNC TD(SZ:002145)2022-10-27 16:00Financial Performance - The company's revenue for Q3 2022 was ¥1,211,901,902.72, a decrease of 11.87% compared to the same period last year[2]. - Net profit attributable to shareholders was ¥79,816,983.83, down 76.87% year-on-year[2]. - The net profit after deducting non-recurring gains and losses was ¥73,411,932.58, a decline of 78.10% compared to the previous year[2]. - The basic earnings per share were ¥0.0274, a decrease of 76.36% compared to the same period last year[2]. - The net profit for the third quarter of 2022 was CNY 617,093,534.24, a decrease of 38.4% compared to CNY 1,001,726,135.26 in the same period last year[24]. - Operating profit for the third quarter was CNY 734,507,350.42, down 38.8% from CNY 1,200,073,108.93 year-on-year[24]. - The company reported a total profit of CNY 730,516,219.00, down 38.9% from CNY 1,196,804,630.83 year-on-year[24]. - The basic and diluted earnings per share were both CNY 0.2089, compared to CNY 0.3364 in the same quarter last year[24]. Assets and Liabilities - Total assets as of September 30, 2022, amounted to ¥11,670,099,584.20, reflecting a 4.30% increase from the end of the previous year[3]. - The total liabilities increased to ¥4,706,883,551.86 from ¥4,229,200,225.75, reflecting a rise of approximately 11.3%[21]. - The total equity attributable to shareholders decreased by 0.71% to ¥6,909,916,241.67 compared to the end of the previous year[3]. - The company's cash and cash equivalents as of September 30, 2022, were ¥3,695,763,420.95, down from ¥3,909,775,513.83 at the beginning of the year, a decrease of about 5.5%[18]. - Cash and cash equivalents at the end of the period totaled CNY 3,301,092,020.81, down from CNY 2,190,577,659.09 at the end of the previous year[26]. Cash Flow - The company reported a net cash flow from operating activities of ¥916,955,296.77, an increase of 1.80% year-on-year[2]. - Cash flow from operating activities generated a net amount of CNY 916,955,296.77, slightly up from CNY 900,779,439.05 in the previous year[26]. - Cash flow from investing activities showed a net outflow of CNY 990,517,549.61, worsening from a net outflow of CNY 645,235,118.13 in the previous year[26]. Shareholder Actions - The company repurchased a total of 64,354,132 shares, accounting for 2.16% of the current total share capital[7]. - The company initiated a share buyback plan with a budget of up to RMB 1 billion, aiming to repurchase between 38.85 million and 77.7 million shares, depending on the final buyback price[15]. - The company’s repurchase account is specifically designated for share buybacks, indicating a strategic approach to managing shareholder value[7]. Investments and Subsidiaries - Company established a wholly-owned subsidiary, Anhui Jinxing New Energy Materials Co., Ltd., with a registered capital of RMB 200 million, to focus on battery cathode materials like lithium iron phosphate[11]. - Company set up a joint venture, Gansu Zetong Weili Energy Co., Ltd., with a registered capital of RMB 100 million, where the company holds 51% and its partner holds 49%[11]. - Company increased its investment in its wholly-owned subsidiary, Panzhihua Zetong Logistics Co., Ltd., by RMB 26 million, raising its registered capital from RMB 150 million to RMB 176 million[12]. - Company introduced Xiamen Zhengjia Supply Chain Management Co., Ltd. as an investor in Zetong Logistics, raising RMB 43 million, which resulted in a 18.17% equity stake for the new investor[13]. - Company acquired 100% of the equity in Zhonghe Era New Energy Co., Ltd. for RMB 49 million, enhancing its position in the new materials and new energy sectors[16]. Research and Development - The company reported a significant increase in research and development expenses to ¥96,836,990.70 from ¥109,572,261.78, suggesting a focus on innovation despite a decrease in spending[22]. Management Changes - The company appointed a new president, Ms. Yuan Qiuli, and other senior management during the reporting period, indicating a strategic shift in leadership[17]. Profit Distribution - The company’s 2021 profit distribution plan includes a cash dividend of RMB 0.8 per 10 shares and a capital reserve conversion of 4.5 shares for every 10 shares held[8]. - Company approved a profit distribution plan for 2021, distributing cash dividends of RMB 0.8 per 10 shares, totaling RMB 164.29 million, and increasing share capital by 924.15 million shares from capital reserves[14].