Beijing Jingneng Clean Energy (579) Q3 2024 earnings summary

Executive summary

• For the nine months ended 30 September 2024, Beijing Jingneng Clean Energy reported consolidated operating revenue of RMB 14.83 billion, slightly down from RMB 15.12 billion year-over-year.

• Net profit attributable to owners was RMB 2.60 billion, compared to RMB 2.75 billion in the prior year period.

• Total assets reached RMB 96.80 billion at period end, up from RMB 93.96 billion at the start of the year.

Financial highlights

• Operating profit for the period was RMB 2.81 billion, down from RMB 3.28 billion year-over-year.

• Total comprehensive income attributable to owners was RMB 2.48 billion, compared to RMB 2.67 billion in the prior year.

• Net cash flow from operating activities was RMB 3.93 billion, up from RMB 3.63 billion year-over-year.

• Net cash flow from investing activities was negative RMB 3.98 billion, compared to negative RMB 5.24 billion in the prior year.

• Net cash flow from financing activities was RMB 1.05 billion, down from RMB 1.05 billion in the prior year.

Outlook and guidance

• The cessation of operations at four hydropower stations in Lushan County, Sichuan Province is expected to impact profitability, with compensation arrangements under negotiation and the final impact yet to be determined.