Announcement time of this financial report: 2023-10-27 18:50:31

Jinneng Technology (stock code: 603113) is a comprehensive chemical enterprise with comprehensive resource utilization and economic recycling. Its main business includes three sectors: petrochemicals, fine chemicals, and coal chemicals. Its main products include coke, carbon black, propylene, polypropylene, sorbic acid (potassium), etc. The company has a national enterprise technology center and a national laboratory, and has been ranked among the top 500 chemical enterprises in China for many years. The company has won many honors, such as “First Batch of Circular Economy Demonstration Enterprises in Shandong Province”, “Shandong Provincial Garden-style Units”, “National First Batch of Green Factories”, and “International Cogeneration Award”.

In terms of assets and liabilities, Jinneng Technology's total assets for the third quarter of 2023 were 17.176 billion yuan, up from 16.326 billion yuan at the end of the previous year. Total liabilities were $8.562 billion, up from $7.618 billion at the end of the previous year. Net assets were $8.614 billion, down slightly from $8.707 billion at the end of the previous year. The balance ratio was 49.85%, up from 46.66% at the end of the previous year.

In terms of profit, Jinneng Technology's operating income for the third quarter of 2023 was 10.914 billion yuan, down from 14.101 billion yuan in the same period last year. Operating profit was -9.0841 million yuan, which was converted into a loss compared to 332 million yuan in the same period last year. Operating costs were $10.71 billion, down from $13.374 billion in the same period last year. Net profit was 5.6574 million yuan, a sharp decrease from 260 million yuan in the same period last year. The company explained that this was mainly due to lower product prices and reduced profits.

In terms of cash flow, Jinneng Technology's net cash flow from operating activities in the third quarter of 2023 was 759 million yuan, down from 1,829 million yuan in the same period last year. The total cash inflow from operating activities was $10.014 billion, down from $13.019 billion in the same period last year. The total cash outflow from operating activities was $9.255 billion, down from $11.189 billion in the same period last year.

In summary, Jinneng Technology achieved growth in total assets in the third quarter of 2023, but is under pressure in terms of net profit. Although the company has stable business in the three major sectors of petrochemicals, fine chemicals, and coal chemicals, the decline in product prices has had an impact on the company's profits. In addition, the company's cash flow has also declined.

For investors, Jinneng Technology's business is stable and has a certain investment value. However, as the company's net profit and cash flow are under pressure, investors should fully consider these factors when making investment decisions.

This article only represents the judgments made by analysts themselves or analysts based on AI analysis. It cannot be used as an investment indicator, nor does it constitute any investment advice. The original purpose of this article was to help investors analyze and judge capital market data in the most intuitive and fastest way and from the most professional perspective.