State Grid Yingda Co., Ltd. (stock code: 600517), as an important enterprise under the State Grid, has always played an important role in the collaborative development of green finance and intelligent manufacturing and finance. Recently, the company released its 2023 annual report, showing steady operation and good development trend over the past year.
Judging from the balance sheet, the total asset balance of the State Grid UK at the end of the period was 44.328 billion yuan, a slight decrease from the beginning of the period, a decrease of 0.58%. This is mainly due to the company's optimization and adjustment of the asset structure during the reporting period. Notably, the company's purchase and resale financial assets fell sharply by 62.94% compared to the beginning of the period, reflecting a reduction in the scale of the pledged reverse repurchase business. This may be due to market risk control considerations. At the same time, debt investment and other debt investments also declined by 35.02% and 38.49%, respectively, and were partially transferred to non-current assets due within a year, showing the importance the company attaches to short-term debt repayment capacity.
In terms of debt, short-term loans declined sharply, reaching 82.46%, indicating that the company has reduced its demand for short-term financing and has a more stable financial structure. However, the significant increase in capital inflows, up to 252.59%, reflects an increase in the scale of commercial banks' capital lending business. This may be a strategic arrangement made by the company to meet possible capital requirements.
According to the income statement, the State Grid Yingda achieved total operating revenue of 10.895 billion yuan in 2023, an increase of 0.32% over the previous year. Net profit attributable to shareholders of listed companies also increased sharply by 23.96%, reaching 1,364 billion yuan. This achievement was achieved thanks to the company's excellent performance in terms of interest income and handling fees and commission income. Despite a 7.26% year-on-year decrease in interest income, fees and commission income increased by 3.46%, showing the strong strength of the company's financial business and market expansion capabilities.
Furthermore, the company's net profit after deducting non-recurring profit and loss also maintained a high growth rate, reflecting the continued profitability and healthy and stable financial situation of the company's main business.
In terms of cash flow, although net cash flow from operating activities decreased by 37.57% year on year, this was mainly due to an increase in foreign investment payments from structured trust-holding entities; it was not a problem with the company's core cash flow from operating activities. In contrast, net cash flow from investing activities has increased, indicating that the company has achieved positive results in investing abroad. The significant reduction in net cash flow from financing activities is related to the reduction in corporate borrowing, reflecting the company's efforts to optimize the financing structure and reduce financial risk.
In summary, the State Grid UK's 2023 annual report shows the company's positive and enterprising attitude based on stable operation. By optimizing the balance and liability structure, enhancing the market competitiveness of financial services, and effectively controlling costs and expenses, the company has achieved a steady improvement in performance. Looking forward to the future, with the company's continuous and in-depth exploration in the field of green finance and intelligent manufacturing, it is expected that it will continue to maintain a good development momentum and create greater value for shareholders.