State Grid Yingda Co., Ltd. (stock code: 600517), as an important enterprise under State Grid Corporation, has been playing a crucial role in the coordinated development of green finance and intelligent manufacturing. Recently, the company released its 2023 annual report, demonstrating its stable operation and good development in the past year.
From the balance sheet, the total assets of State Grid Yingda at the end of the period were 44.328 billion yuan, slightly down from the beginning of the period with a decrease of 0.58%, mainly due to the optimization and adjustment of the asset structure during the reporting period. It is worth noting that the company's buyback resale financial assets decreased significantly by 62.94% from the beginning of the period, reflecting the reduction in the scale of pledged repo transactions, which may be due to risk control considerations. At the same time, the investments in debt securities and other investments in debt securities also decreased by 35.02% and 38.49%, respectively, and some were transferred to non-current assets due within one year, showing the company's emphasis on short-term solvency.
On the liability side, the significant decrease in short-term borrowings by 82.46% indicates that the company has reduced the demand for short-term financing, and the financial structure is further stable. The significant increase in funds on deposit reflects the rising scale of commercial banks' funding borrowing business, which may be a strategic arrangement for the company to cope with possible funding needs.
The income statement shows that State Grid Yingda's total operating revenue in 2023 was 10.895 billion yuan, a year-on-year increase of 0.32%, and the net profit attributable to the shareholders of the listed company increased significantly by 23.96% to 1.364 billion yuan. This achievement is due to the company's outstanding performance in interest income and commission income. Although interest income decreased by 7.26% year-on-year, commission income increased by 3.46%, demonstrating the company's strong financial strength in the financial business and market expansion capabilities.
In addition, the net profit after deducting non-recurring gains and losses also maintained a high growth rate, reflecting the company's sustained profitability and healthy and stable financial condition in its main business.
In terms of cash flow, although the net cash flow from operating activities decreased by 37.57% year-on-year, this is mainly due to the increase in payments for external investments held by trusts, rather than problems with the company's core cash flow from operating activities. On the contrary, the net cash flow from investing activities increased, indicating that the company has achieved positive results in external investment. The significant decrease in net cash flow from financing activities is related to the company's reduced borrowing, reflecting the company's efforts in optimizing its financing structure and reducing financial risks.
In summary, State Grid Yingda's 2023 annual report demonstrates the company's proactive attitude on the basis of stable operation. By optimizing the asset-liability structure, enhancing the market competitiveness of its financial business, and effectively controlling costs and expenses, the company has achieved steady performance growth. Looking ahead, with the company's continuous exploration in the field of green finance and intelligent manufacturing, it is expected to continue its good development momentum and create greater value for shareholders.