营收利润双降 潞安环能三季度业绩承压

Core Viewpoint - Lu'an Environmental Energy (601699) reported a decline in revenue and profit for the first three quarters of 2025, but maintained a solid financial position with ample cash flow [1][3]. Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 21.10 billion yuan, a decrease of 20.82% compared to the same period last year [2]. - The total profit for the same period was 1.90 billion yuan, down 60.12% year-on-year [2]. - The net profit attributable to shareholders was 1.55 billion yuan, reflecting a decline of 44.45% year-on-year [2]. - In the third quarter alone, revenue fell by 21.83% year-on-year, while net profit attributable to shareholders dropped by 63.96% [2]. Cash Flow Management - The net cash flow from operating activities for the first three quarters was 2.68 billion yuan, showing a decrease of 28.26% year-on-year, but still positive and substantial [3]. - The company's strong cash reserves and stable financial structure are expected to help it maintain its market position during industry adjustments and prepare for future market recovery [3]. Market Considerations - Investors should closely monitor coal price trends and the company's cost control effectiveness moving forward [3].