Hunan Development Group Co., Ltd. (stock code: 000722) mainly carries out investment, development, construction and operation management of clean energy projects such as hydropower and photovoltaic power generation. The company operates and manages Zhuzhou Avionics, Bird's Nest two hydropower stations and Nanzhou Industrial Park distributed photovoltaic power stations in Hunan, with a total controllable installed capacity of 174500 kilowatts.
According to the financial report of Hunan Development in the third quarter of 2023, the company's assets totaled 3.359 billion yuan, an increase from 3.352 billion yuan at the beginning of the period. The total liabilities were 135 million yuan, a decrease compared with 171 million yuan at the beginning of the period. The net asset was 3.224 billion yuan, an increase compared with 3.182 billion yuan at the beginning of the period. The asset-liability ratio was 4.01%, down from 5.1% at the beginning of the period.
The company's operating income for the current period was 208 million yuan, which was lower than that of 372 million yuan in the same period last year, mainly due to the reduction in the current generation of subordinate power stations and the decrease in sales revenue of Hunan Development Yiyuan Natural Resources Development Co., Ltd. The operating profit was 549 million yuan, down from 105 million yuan in the same period last year. The operating cost was 131 million yuan, which was lower than that of 257 million yuan in the same period last year, mainly due to the decrease in sales income and operating costs in this period of Hunan Development Yiyuan.
The net profit belonging to the shareholders of the listed company and the net profit after deducting non-recurrent profits and losses are affected by the weather and other factors. the power generation of hydropower stations under the company and the sales volume of Yiyuan sand and gravel in Hunan Development are reduced compared with the same period last year, and the changes in investment income of the recognized joint venture enterprises are affected by other factors. The net cash flow generated by operating activities was 147 million yuan, an increase compared with 387 million yuan in the same period last year, mainly due to the combined impact of cash inflows and outflows from operating activities in the current period.
The balance of cash and cash equivalents at the end of the period was 163 million yuan, an increase compared with 141 million yuan in the same period last year, mainly due to the comprehensive impact of business activities, investment activities and fund-raising activities in the current period. The gross profit margin for the reporting period was 37.36%, up from 31.02% in the same period last year. The net interest rate was 19.87%, down from 23.6% in the same period last year. The return on equity (ROE) is 1.29%.
On this basis, Hunan Development also signed the exclusive intention Cooperation Agreement and paid the cooperation intention money during the reporting period, locking a photovoltaic power generation project in Qinghai, showing the company's continuous layout in the field of clean energy.
Generally speaking, the performance of Hunan Development in the third quarter of 2023 is affected by the weather and other factors, but the company's layout in the field of clean energy is advancing steadily, the asset-liability ratio continues to decline, and the cash flow situation is good. For investors, they can pay attention to the company's further developments in the clean energy sector, as well as the possible future performance improvement.
This article only represents the judgment made by the analyst himself or the analyst on the basis of AI analysis, and can not be used as any investment index, nor does it constitute any investment advice. The original intention of this paper is to help investors analyze and judge the capital market data in the most intuitive and fast way and from the most professional perspective.