Announcement time of this financial report: 2023-10-27 18:33:23
Liantai Environmental (stock code: 603797) is a company mainly engaged in the investment, construction and operation management of urban and rural domestic sewage treatment facilities. The company provides sewage collection, transportation and/or terminal sewage treatment services within concession areas authorized by local governments. Furthermore, the company has also entered the industry of comprehensive utilization of waste resources through the acquisition of shares in Liantai Industrial and Tianhuijian. Tianhuijian is a manufacturer that uses recycled waste oil to produce industrial grade mixed oil (UCO). The products are in line with the development direction of the country's new energy-biomass energy comprehensive utilization, clean energy, and low-carbon transformation industries.
In terms of assets and liabilities, at the end of the third quarter of 2023, Liantai Environmental's total assets were 10.439 billion yuan, up from 10.253 billion yuan at the end of the previous year. Total liabilities were $7.296 billion, slightly higher than $7.249 billion at the end of the previous year. Net assets were $3.143 billion, up from $3,004 billion at the end of the previous year. The balance ratio was 69.89%, down from 70.7% at the end of the previous year.
In terms of profit, from the beginning of the year to the end of the reporting period, Liantai Environmental's operating income was 1,027 million yuan, down from 1,097 billion yuan in the same period last year. Operating profit was $244 million, down from $284 million in the same period last year. Net profit was $203 million, down from $246 million in the same period last year. Gross margin was 48.06%, up from 46.46% in the same period last year. The net interest rate was 19.73%, down from 22.42% in the same period last year.
In terms of cash flow, from the beginning of the year to the end of the reporting period, the net cash flow from Liantai Environmental's operating activities was RMB 685.424 million, up 30.23% from RMB 52.6314 million in the same period last year. The total cash inflow from operating activities was $839 million, down from $1,227 million in the same period last year. The total cash outflow from operating activities was $771 million, down from $1,174 million in the same period last year.
In summary, Liantai Environmental's business performance in the third quarter of 2023 was steady. Although operating income, operating profit, and net profit declined compared to the same period last year, the balance ratio declined slightly and net cash flow increased, indicating the company's good ability to manage cash flow. Furthermore, the increase in gross margin also reflects the company's advantage in cost control.
For investors, Liantai Environmental's financial position is stable, cash flow management is good, and it has a certain investment value. However, at the same time, it is also important to note that the company's operating income and profit have declined compared to the same period last year, and whether future profitability can be restored still needs to be further observed.
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