中环环保(300692) - 2023 Q3 - 季度财报

Financial Performance - The company's revenue for Q3 2023 was CNY 203,214,385.20, a decrease of 40.28% compared to the same period last year[5]. - The net profit attributable to shareholders for Q3 2023 was CNY 28,608,629.21, down 52.36% year-on-year[5]. - The basic earnings per share for Q3 2023 was CNY 0.0675, a decline of 52.53% compared to the previous year[5]. - Revenue for the first nine months of 2023 was CNY 614.79 million, a decrease of 33.96% compared to CNY 930.96 million in the same period of 2022, primarily due to a reduction in engineering contracting business[10]. - The total operating revenue for the third quarter of 2023 was CNY 614,793,322.11, a decrease of 34% compared to CNY 930,962,421.61 in the same period last year[22]. - The net profit for Q3 2023 was CNY 110,543,605.41, a decrease of 35.9% compared to CNY 172,422,098.54 in Q3 2022[23]. - Operating profit for Q3 2023 was CNY 118,963,195.84, down 35.5% from CNY 184,665,558.22 in the same period last year[23]. - Revenue from sales of goods and services in Q3 2023 was CNY 588,105,626.91, a decline of 35.0% compared to CNY 903,893,633.66 in Q3 2022[26]. - The company reported a total profit of CNY 119,261,868.37 for Q3 2023, a decrease of 35.4% compared to CNY 184,241,444.70 in Q3 2022[23]. Cash Flow and Investments - The net cash flow from operating activities (including cash paid for investment in franchise projects) was CNY 88,401,253.47, an increase of 152.23% year-to-date[5]. - Net cash flow from operating activities was CNY 88.40 million, a substantial increase of 152.23% compared to CNY 35.05 million in the previous year, primarily due to reduced payments[10]. - The cash flow from operating activities for Q3 2023 was CNY 88,401,253.47, an increase from CNY 35,047,686.42 in Q3 2022[27]. - The company reported a net cash outflow from investing activities of CNY -231,151,144.85, an improvement from CNY -554,577,937.26 in the previous year[27]. - Total cash inflow from investment activities was CNY 540.28 million, a 159.76% increase from CNY 207.99 million, mainly due to the redemption of financial products[10]. - Cash flow from financing activities decreased by 62.71% to CNY 622.09 million from CNY 1.67 billion, primarily due to the absence of convertible bond fundraising compared to the previous year[10]. - The company reported a net decrease in cash and cash equivalents of CNY 127.35 million, a decline of 207.30% compared to an increase of CNY 118.68 million in the same period last year[10]. Assets and Liabilities - Total assets as of September 30, 2023, amounted to CNY 6,791,691,853.19, reflecting a growth of 5.45% from the end of the previous year[5]. - The total liabilities increased to CNY 4,304,928,571.26 from CNY 3,981,103,979.46, marking a rise of 8.2%[20]. - The company's long-term borrowings increased by 36.47% to CNY 1,723,054,985.93, primarily due to new bank loans obtained during the period[9]. - The company reported a significant increase in long-term borrowings, which rose to CNY 1,723,054,985.93 from CNY 1,262,583,310.51, an increase of 36.5%[20]. - The company's total equity attributable to shareholders was CNY 2,282,473,067.85, up 2.43% from the end of the previous year[5]. - The company's total equity as of September 30, 2023, was CNY 2,486,763,281.93, up from CNY 2,459,846,136.63 at the beginning of the year, reflecting a growth of 1.1%[20]. Operational Efficiency - Operating costs decreased by 44.22% to CNY 327.33 million from CNY 586.83 million, attributed to the same reduction in engineering contracting business[10]. - The total operating costs for the third quarter of 2023 were CNY 496,081,256.41, down 33% from CNY 741,555,653.13 year-on-year[22]. - Research and development expenses decreased by 29.74% to CNY 14.71 million from CNY 20.94 million[10]. - Research and development expenses for Q3 2023 were CNY 14,712,331.92, a decrease of 29.6% from CNY 20,939,834.28 in Q3 2022[23]. Strategic Initiatives - The company has been focusing on expanding its market presence and developing new technologies as part of its strategic initiatives[19]. - The company approved the acquisition of a 70% stake in Jiyuan Zhongchen Environmental Technology Co., Ltd. on July 31, 2023[15]. Accounts Receivable and Deferred Income - The accounts receivable rose by 33.18% to CNY 714,516,810.11, mainly due to delayed government subsidies and wastewater treatment fees[9]. - Accounts receivable increased to CNY 714,516,810.11 from CNY 536,494,117.58, reflecting a growth of 33.2%[17]. - Deferred income increased by 10.38% to CNY 78.48 million from CNY 71.10 million[10]. - The company reported a significant reduction in contract liabilities by 98.82%, attributed to the recognition of previously received advance payments as revenue[9]. Financial Expenses - The company incurred financial expenses of CNY 96,590,658.21 in Q3 2023, compared to CNY 85,228,342.91 in Q3 2022, reflecting an increase of 13.5%[23]. - The cash and cash equivalents decreased by 36.16% to CNY 286,661,864.46, primarily due to payments made during the period[9]. - The company's cash and cash equivalents decreased to CNY 286,661,864.46 from CNY 449,062,016.11 at the beginning of the year, representing a decline of 36.3%[17].