POWERCHINA Ltd(601669)2024-10-30 10:07Revenue and Profit Performance - Revenue for the third quarter was RMB 140.75 billion, a 1.01% increase compared to the same period last year[3] - Net profit attributable to shareholders of the listed company decreased by 9.00% to RMB 2.47 billion in the third quarter[3] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses decreased by 36.47% to RMB 1.68 billion in the third quarter[3] - The company's total revenue for the first nine months of the year was RMB 425.67 billion, a 1.20% increase compared to the same period last year[3] - Total operating income for the first three quarters of 2024 reached 426,346,873,798.55 yuan, compared to 421,400,574,489.52 yuan in the same period last year[16] - Net profit attributable to the parent company's owners was 75,329,197,765.82 yuan, compared to 69,301,573,413.63 yuan in the previous period[15] - Net profit attributable to parent company shareholders was RMB 8.806 billion, a decrease of 7.2% compared to the same period last year[17] - Revenue for the first three quarters of 2024 was RMB 4.24 billion, a decrease of 23.94% compared to RMB 5.58 billion in the same period of 2023[24] - Operating profit for the first three quarters of 2024 reached 1.385 billion RMB, a 25.3% increase compared to 1.105 billion RMB in the same period of 2023[25] - Net profit for the first three quarters of 2024 was 1.459 billion RMB, up 19.9% from 1.216 billion RMB in the same period of 2023[25] Asset and Liability Changes - Total assets increased by 11.59% to RMB 1.29 trillion compared to the end of the previous year[4] - Total equity attributable to shareholders of the listed company increased by 4.19% to RMB 167.31 billion compared to the end of the previous year[4] - The company's monetary funds increased to 107.04 billion yuan as of September 30, 2024, compared to 97.50 billion yuan at the end of 2023[13] - Accounts receivable rose to 140.98 billion yuan as of September 30, 2024, up from 106.29 billion yuan at the end of 2023[13] - Contract assets grew to 158.56 billion yuan as of September 30, 2024, compared to 124.34 billion yuan at the end of 2023[13] - Prepayments increased to 40.69 billion yuan as of September 30, 2024, from 34.67 billion yuan at the end of 2023[13] - Inventory rose to 20.07 billion yuan as of September 30, 2024, up from 16.95 billion yuan at the end of 2023[13] - Other receivables increased to 31.69 billion yuan as of September 30, 2024, compared to 29.59 billion yuan at the end of 2023[13] - Total assets increased to 1,287,495,362,210.47 yuan, up from 1,153,774,735,013.99 yuan in the previous period[14] - Long-term receivables increased to 73,478,875,277.50 yuan, up from 65,730,691,432.01 yuan in the previous period[14] - Fixed assets grew to 139,748,609,709.27 yuan, compared to 128,758,462,067.36 yuan in the previous period[14] - Total liabilities for the first three quarters of 2024 were 1,017,468,203,588.06 yuan, up from 894,124,637,157.12 yuan in the same period last year[15] - Long-term loans increased to 363,069,854,327.24 yuan, up from 315,206,434,347.29 yuan in the previous period[15] - Total equity attributable to the parent company's owners was 167,311,834,111.86 yuan, compared to 160,580,347,561.55 yuan in the previous period[15] - Total assets decreased from RMB 179.63 billion to RMB 175.19 billion, a decline of 2.47%[21][22][23] - Current liabilities decreased from RMB 79.00 billion to RMB 71.29 billion, a reduction of 9.76%[22] - Long-term liabilities increased from RMB 10.40 billion to RMB 16.27 billion, a rise of 56.44%[22] Cash Flow and Financial Activities - Cash flow from operating activities was negative RMB 46.93 billion for the first nine months of the year[3] - Cash flow from operating activities was negative RMB 46.926 billion, a decrease of 30.6% compared to the same period last year[19] - Cash flow from investing activities was negative RMB 42.091 billion, an improvement of 32.1% compared to the same period last year[20] - Cash flow from financing activities was positive RMB 100.029 billion, a decrease of 0.6% compared to the same period last year[20] - Total cash and cash equivalents at the end of the period was RMB 100.245 billion, an increase of 3.4% compared to the same period last year[20] - Net cash flow from operating activities for the first three quarters of 2024 was -26.126 billion RMB, compared to -24.393 billion RMB in the same period of 2023[26] - Net cash flow from investing activities for the first three quarters of 2024 was 3.172 billion RMB, a 3.2% decrease from 3.275 billion RMB in the same period of 2023[26] - Net cash flow from financing activities for the first three quarters of 2024 was 14.524 billion RMB, a 95.9% increase compared to 7.415 billion RMB in the same period of 2023[26] - Cash and cash equivalents at the end of the third quarter of 2024 were 8.118 billion RMB, a 42.0% decrease from 14.009 billion RMB at the end of the third quarter of 2023[26] Earnings and Shareholder Information - Basic earnings per share decreased by 5.68% to RMB 0.1412 in the third quarter[3] - Weighted average return on equity decreased by 0.26 percentage points to 1.79% in the third quarter[4] - Basic earnings per share was RMB 0.4865, a decrease of 7.8% compared to the same period last year[18] - Diluted earnings per share was RMB 0.4865, a decrease of 7.8% compared to the same period last year[18] - The company's largest shareholder, China Power Construction Group Co., Ltd., holds 53.05% of the shares, totaling 4.98 billion shares[10] - The second-largest shareholder, Taiping Life Insurance Co., Ltd., holds 3.15% of the shares, totaling 543.48 million shares[10] - The third-largest shareholder, China Securities Finance Co., Ltd., holds 2.51% of the shares, totaling 432.77 million shares[10] - The fourth-largest shareholder, Hong Kong Securities Clearing Company Ltd., holds 2.50% of the shares, totaling 430.76 million shares[10] Non-Recurring Items and Impairments - Non-recurring gains and losses amounted to RMB 784.45 million in the third quarter, primarily due to increased gains from the disposal of non-current assets[6][7] - Total assets impairment loss was RMB 694.979 million, an increase of 469.4% compared to the same period last year[17] - Total assets disposal gain was RMB 780.362 million, an increase of 632.0% compared to the same period last year[17] - Credit impairment losses increased from RMB -11.32 million in 2023 to RMB -111.53 million in 2024, a significant rise[24] Operating Costs and Expenses - Operating costs for the first three quarters of 2024 were 410,173,481,242.79 yuan, up from 404,413,225,464.60 yuan in the same period last year[16] - R&D expenses for the first three quarters of 2024 amounted to 13,978,190,853.56 yuan, compared to 13,310,131,559.47 yuan in the same period last year[16] - Operating costs for the first three quarters of 2024 were RMB 3.97 billion, down 24.34% from RMB 5.24 billion in 2023[24] - R&D expenses increased significantly from RMB 10.11 million in 2023 to RMB 57.73 million in 2024, a growth of 471.08%[24] - Financial expenses decreased from RMB 750.83 million in 2023 to RMB 627.68 million in 2024, a reduction of 16.40%[24] Investment and Comprehensive Income - Investment income dropped from RMB 892.33 million in 2023 to RMB 277.70 million in 2024, a decline of 68.88%[24] - Total comprehensive income was RMB 11.757 billion, a decrease of 5.6% compared to the same period last year[18] - Total comprehensive income for the first three quarters of 2024 was 1.829 billion RMB, a 47.8% increase compared to 1.238 billion RMB in the same period of 2023[25] - Cash received from sales of goods and services in the first three quarters of 2024 was 4.565 billion RMB, a 7.8% increase from 4.235 billion RMB in the same period of 2023[25]