CHALCO(601600)2023-10-25 16:00Revenue and Profit Performance - Revenue for Q3 2023 was RMB 54.34 billion, a decrease of 20.85% compared to the same period last year[4] - Net profit attributable to shareholders of the listed company for Q3 2023 was RMB 1.94 billion, an increase of 105.35% year-on-year[4] - Total operating revenue for the first three quarters of 2023 was 188.4 billion yuan, a decrease of 17.2% compared to 227.6 billion yuan in the same period of 2022[15] - Net profit attributable to the parent company's shareholders was 5.35 billion yuan, a slight decrease of 0.9% compared to 5.40 billion yuan in the same period of 2022[15] - Total revenue for the first three quarters of 2023 reached 20,102,716 thousand yuan, a slight increase from 19,648,534 thousand yuan in the same period last year[23] - Net profit for the first three quarters of 2023 was 2,816,198 thousand yuan, significantly higher than 129,829 thousand yuan in the same period last year[23] Production and Operational Metrics - Metallurgical alumina production in the first nine months of 2023 was 12.46 million tons, a decrease of 7.35% compared to the same period last year[8] - Primary aluminum (including alloy) production in the first nine months of 2023 was 4.93 million tons, a decrease of 3.78% year-on-year[8] - Coal production in the first nine months of 2023 was 9.69 million tons, an increase of 19.19% compared to the same period last year[8] Financial Position and Assets - The company's total assets at the end of Q3 2023 were RMB 210.34 billion, a decrease of 0.95% compared to the end of the previous year[4] - Total assets decreased to 210,340,335 thousand yuan from 212,347,896 thousand yuan compared to the end of 2022[13][14] - Current assets increased to 55,596,471 thousand yuan from 54,535,973 thousand yuan, driven by growth in receivables and inventory[13] - Non-current assets decreased to 154,743,864 thousand yuan from 157,811,923 thousand yuan, mainly due to a reduction in fixed assets[13] - Total assets as of September 30, 2023, were 124,089,350 thousand yuan, slightly down from 125,587,206 thousand yuan at the end of 2022[20] Liabilities and Equity - Total liabilities decreased to 114,299,175 thousand yuan from 124,593,412 thousand yuan, with a significant reduction in current liabilities[14] - Shareholders' equity increased to 96,041,160 thousand yuan from 87,754,484 thousand yuan, reflecting improved retained earnings[14] - Total liabilities decreased to 71,955,115 thousand yuan as of September 30, 2023, from 75,663,980 thousand yuan at the end of 2022[21] - Shareholders' equity increased to 52,134,235 thousand yuan as of September 30, 2023, up from 49,923,226 thousand yuan at the end of 2022[21] Cash Flow and Financing - Net cash flow from operating activities was 20.40 billion yuan, a decrease of 15.5% compared to 24.14 billion yuan in the same period of 2022[17] - Net cash flow from investing activities was -5.88 billion yuan, an improvement from -7.27 billion yuan in the same period of 2022[17] - Net cash flow from financing activities was -14.87 billion yuan, compared to -13.23 billion yuan in the same period of 2022[18] - Operating cash flow for the first three quarters of 2023 was 2,765,880 thousand yuan, up from 2,151,292 thousand yuan in the same period last year[24] - Investment cash flow for the first three quarters of 2023 was 7,237,571 thousand yuan, a significant improvement from -546,674 thousand yuan in the same period last year[24] - Repayment of debt cash payment: 18,272,096[25] - Dividend, profit distribution, or interest payment cash: 1,830,587[25] - Other financing-related cash payments: 294,766[25] - Total cash outflow from financing activities: 20,397,449[25] - Net cash flow from financing activities: -10,649,147[25] - Effect of exchange rate changes on cash and cash equivalents: 181[25] - Net increase in cash and cash equivalents: -645,515[25] - Beginning cash and cash equivalents balance: 6,545,759[25] - Ending cash and cash equivalents balance: 5,900,244[25] R&D and Innovation - R&D expenses increased by 22.6% to 3.33 billion yuan in the first three quarters of 2023, compared to 2.72 billion yuan in the same period of 2022[15] - R&D expenses increased to 558,518 thousand yuan in the first three quarters of 2023, up from 360,807 thousand yuan in the same period last year[23] Earnings and Shareholder Metrics - The weighted average return on equity for Q3 2023 was 3.41%, an increase of 1.84 percentage points year-on-year[4] - The company's equity attributable to shareholders of the listed company at the end of Q3 2023 was RMB 59.10 billion, an increase of 8.63% compared to the end of the previous year[4] - The company's basic earnings per share for Q3 2023 was RMB 0.111, an increase of 113.46% year-on-year[4] - Basic earnings per share remained stable at 0.309 yuan per share, compared to 0.310 yuan per share in the same period of 2022[16] - Total comprehensive income for the first three quarters of 2023 was 8.98 billion yuan, a decrease of 13.1% compared to 10.33 billion yuan in the same period of 2022[16] Non-Recurring Items - The company's non-recurring gains and losses for Q3 2023 amounted to a net loss of RMB 109.84 million[6] Inventory and Fixed Assets - Inventory remained high at 24,093,746 thousand yuan, slightly down from 24,712,322 thousand yuan at the end of 2022[13] - Fixed assets decreased to 101,409,841 thousand yuan from 106,996,858 thousand yuan, indicating depreciation and disposals[13] Short-Term Borrowings and Receivables - Short-term borrowings increased to 7,581,028 thousand yuan from 6,461,103 thousand yuan, reflecting higher short-term financing needs[14] - Accounts receivable increased to 4,962,460 thousand yuan from 4,106,396 thousand yuan, indicating higher sales on credit[13] - Short-term borrowings increased to 5,166,254 thousand yuan as of September 30, 2023, up from 3,790,711 thousand yuan at the end of 2022[20] Retained Earnings and Profitability - Retained earnings rose to 14,873,779 thousand yuan from 10,181,050 thousand yuan, showing improved profitability[14] Cash and Cash Equivalents - Cash and cash equivalents at the end of the period were 16.48 billion yuan, a decrease of 29.2% compared to 23.27 billion yuan at the end of the same period in 2022[18] - Cash and cash equivalents decreased to 5,227,660 thousand yuan as of September 30, 2023, from 6,663,880 thousand yuan at the end of 2022[20]