HUNAN DEVELOPMENT(000722)2024-10-25 09:06Financial Performance - The company's operating revenue for Q3 2024 was ¥78,557,116.52, representing a 29.56% increase compared to ¥60,633,201.24 in the same period last year[3]. - Net profit attributable to shareholders for Q3 2024 reached ¥14,767,998.46, a significant increase of 825.88% from ¥1,595,016.36 in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥14,938,208.49, up 612.87% from ¥2,095,517.13 year-on-year[3]. - The basic earnings per share for Q3 2024 was ¥0.0318, an increase of 835.29% compared to ¥0.0034 in the same quarter last year[3]. - The total profit for the period from January to September 2024 reached CNY 58,952,269.81, a 44.42% increase compared to CNY 40,818,796.07 in the same period of 2023[11]. - The company's operating profit increased by 24.79% to CNY 95,411,880.10, driven by favorable water inflow at the hydropower stations[10]. - The net profit attributable to the parent company was CNY 61,412,937.09, reflecting a 36.24% increase from CNY 45,077,075.60 in the previous year[11]. - The total operating profit for the current period is 95,411,880.10, compared to 76,459,405.66 in the previous period, indicating an increase of about 24.5%[25]. - The total profit before tax increased to 93,733,584.01 from 59,005,066.37, marking a growth of approximately 58.7%[25]. - The basic earnings per share rose to 0.13 from 0.10, representing a 30% increase[26]. Cash Flow and Assets - The net cash flow from operating activities for the year-to-date was ¥144,802,742.92, down 53.40% from ¥310,766,699.23 in the same period last year[3]. - Cash flow from operating activities totaled CNY 277,236,555.04, down 36.81% from CNY 438,703,105.83 in the previous year[12]. - The cash flow from operating activities was impacted by a total cash inflow of CNY 277,236,555.04, compared to CNY 438,703,105.83 in Q3 2023[28]. - The total cash and cash equivalents at the end of Q3 2024 were CNY 108,326,590.91, down from CNY 375,601,669.02 at the end of Q3 2023[29]. - The company's cash and cash equivalents decreased by 33.87% to ¥465,599,424.24 from ¥704,048,966.32 at the beginning of the period[8]. - The total assets at the end of the reporting period were ¥3,312,513,418.66, reflecting an 8.56% decrease from the previous year's total of ¥3,622,761,673.15[4]. - The total assets of the company decreased to ¥3.31 billion from ¥3.62 billion, a reduction of approximately 8.6%[22]. - The company's equity attributable to shareholders decreased by 2.23% to ¥3,098,866,604.91 from ¥3,169,525,509.51 at the end of the previous year[4]. - The equity attributable to the parent company decreased to ¥3.10 billion from ¥3.17 billion, a decrease of approximately 2.2%[22]. - The company's cash and cash equivalents decreased to ¥465.60 million from ¥704.05 million at the beginning of the period, representing a decline of approximately 33.9%[20]. Liabilities and Expenses - The total liabilities decreased to ¥143.28 million from ¥151.83 million, a decline of approximately 5.6%[22]. - The financial expenses decreased by 59.70% to CNY -6,388,841.80, mainly due to reduced interest income from bank deposits[10]. - The tax expenses for the current period were 34,781,314.20, compared to 18,186,270.30 in the previous period, reflecting an increase of approximately 91.1%[25]. - The total operating costs decreased to 154,957,036.79 from 173,782,978.56, a reduction of about 10.8%[25]. - The research and development expenses decreased to 6,350,719.61 from 8,408,282.66, a reduction of about 24.5%[25]. Investments and Projects - The company reported a substantial increase in investment payments, which rose by 1198.44% to CNY 376,547,800.00, mainly due to the acquisition of Mangdian Company[12]. - The company has signed a supplementary agreement for an exclusive cooperation agreement, committing to pay a cooperation intention fee of RMB 357.12 million for a photovoltaic project in Qinghai[15]. - The company has acquired land use rights for a total area of 90,796 square meters for RMB 35.14 million, including 16 buildings valued at RMB 10.76 million[17]. - The company plans to invest in the construction of distributed photovoltaic power generation projects on commercial rooftops[16]. - The company has established a new subsidiary in Changde City for a distributed photovoltaic project with a planned total installed capacity of approximately 2.537 MWp and a total investment of about ¥8.38 million[18]. - Another photovoltaic project in the Louxing Industrial Development Zone has a planned capacity of approximately 4.26 MWp and a total investment of about ¥13.84 million[18]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 59,990[13]. - Hunan Energy Investment Group Co., Ltd. holds 51.53% of the shares, totaling 239,188,405 shares[14]. Other Financial Metrics - The company recognized government subsidies of ¥152,945.92 during the reporting period, contributing to its financial performance[5]. - The company recorded a significant drop in other income, which fell by 95.10% to CNY 350,362.23, as previous government subsidies were no longer included in the consolidated financial statements[10]. - Investment income decreased significantly by 351.06%, resulting in a loss of CNY 5,431,230.74, primarily due to changes in the profits of associated enterprises[10]. - The net cash flow from investment activities was -CNY 401,565,266.68, compared to -CNY 138,715,460.58 in Q3 2023, indicating a significant increase in cash outflow[28]. - The cash paid for investments was CNY 376,547,800.00, a significant increase from CNY 29,000,000.00 in the same quarter last year[28]. - The company paid CNY 43,765,634.53 in debt repayments and interest distributions during the quarter[29].