GED(SZ:200539)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 was CNY 16.83 billion, a decrease of 0.24% compared to the same period last year, while the year-to-date revenue increased by 14.41% to CNY 45.18 billion[3]. - Net profit attributable to shareholders for Q3 2023 was CNY 870.30 million, a significant increase of 359.40% year-on-year, with a year-to-date net profit of CNY 1.73 billion, up 201.15%[3]. - The net cash flow from operating activities for the year-to-date period reached CNY 7.03 billion, reflecting a substantial increase of 173.62% compared to the previous year[3]. - Basic earnings per share for Q3 2023 were CNY 0.1658, a significant increase from a loss of CNY 0.0655 in the same period last year[3]. - Total assets at the end of the reporting period were CNY 131.50 billion, reflecting a year-on-year increase of 14.57%[3]. - Total operating revenue for Q3 2023 reached CNY 45,175,223,659, an increase of 14.3% compared to CNY 39,486,353,935 in the same period last year[45]. - Total operating costs decreased to CNY 42,381,077,414 from CNY 43,081,906,128, reflecting a reduction of 1.6%[45]. - The company reported a net cash inflow from financing activities of CNY 11,681,862,934, compared to CNY 11,106,243,066 in the previous year[48]. - The company incurred a loss of CNY 14,968,462 from the disposal of non-current assets in Q3 2023, compared to a loss of CNY 16,957,364 in the same period last year[53]. - Government subsidies recognized in the current period amounted to CNY 7,014,560, contributing to the overall financial performance[53]. Cash Flow and Liquidity - The net cash flow from operating activities increased significantly to ¥7,029,257,012, compared to ¥2,568,938,319 in the previous period, marking a growth of approximately 174%[14]. - Cash inflow from operating activities totaled ¥50,878,043,761, up from ¥45,202,549,203, representing an increase of about 15%[14]. - The cash outflow for operating activities was ¥43,848,786,749, compared to ¥42,633,610,884 in the prior period, indicating a rise of approximately 3%[14]. - The cash flow from investing activities showed a net outflow of ¥15,257,433,680, worsening from a net outflow of ¥8,871,184,666 previously[14]. - Cash inflow from financing activities reached ¥44,526,322,893, an increase from ¥34,124,811,896, reflecting a growth of about 30%[14]. - Cash and cash equivalents at the end of Q3 2023 amounted to CNY 14,887,495,079, up from CNY 12,827,114,777 at the end of Q3 2022, representing an increase of 16.0%[48]. - The company's cash and cash equivalents increased significantly, contributing to improved liquidity[10]. Assets and Liabilities - Total current assets increased to $30.21 billion from $25.81 billion, a growth of approximately 17.5%[10]. - Non-current assets totaled $120.59 billion, up from $105.81 billion, reflecting a growth of about 14%[10]. - The total liabilities increased to $37.73 billion from $34.25 billion, reflecting a growth of about 10.5%[10]. - Total current liabilities increased to ¥44,954,922,875 from ¥42,004,102,630, reflecting a growth of approximately 7%[59]. - Total non-current liabilities rose to ¥75,771,066,932 from ¥60,778,111,796, marking an increase of about 25%[59]. - Total liabilities reached ¥120,725,989,807, up from ¥102,782,214,426, representing a growth of around 17%[59]. - Total equity attributable to shareholders increased to ¥21,924,502,603 from ¥20,350,293,619, showing an increase of approximately 8%[59]. - Total equity reached ¥30,078,464,902, up from ¥28,841,588,275, indicating a growth of about 4%[59]. - The total assets amounted to ¥150,804,454,709, compared to ¥131,623,802,701, reflecting an increase of approximately 14%[59]. - Long-term borrowings increased to ¥58,194,303,375 from ¥42,860,932,628, representing a growth of about 36%[59]. Operational Highlights - The company achieved a total power generation of 91.45 billion kWh in the first three quarters of 2023, representing a year-on-year increase of 6.47%[5]. - The average on-grid electricity price for the company was CNY 583.19 per MWh, an increase of CNY 40.25 per MWh year-on-year[5]. - The gross profit margin for the first three quarters increased by 14.75% due to a decrease in fuel costs, which amounted to CNY 3.04 billion, down 4.85% year-on-year[5]. - The company plans to introduce strategic investors to its wholly-owned subsidiary, Guangdong Wind Power Co., Ltd., with a maximum shareholding of 33% post-expansion[8]. - The company has successfully connected its Xinjiang photovoltaic project to the grid, with a total investment of CNY 2.227 billion and an installed capacity of 400 MW[8]. - The company plans to expand its market presence and invest in new technologies to drive future growth[12]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[42]. Research and Development - Research and development expenses decreased to $868.30 million from $1.03 billion, a reduction of approximately 15.3%[12]. Financial Adjustments - The implementation of the new accounting standard resulted in a decrease in retained earnings by ¥108,421,140[33]. - Non-recurring gains and losses included a VAT refund of ¥18,452,018 and carbon emission quota usage costs of ¥191,053,228, both in line with national policy[39].