| 证券代码：600482 | 证券简称：中国动力 | 编号：2023-025 | | --- | --- | --- | | 债券代码：110807 | 债券简称：动力定 01 | | | 债券代码：110808 | 债券简称：动力定 02 | | 中国船舶重工集团动力股份有限公司 关于参加中国船舶集团控股上市公司2022年度集体业绩 说明会暨召开公司2022年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2023年5月23日（星期二）下午14:30-17:30 会议召开地点：上海证券交易所上证路演中心（网址： http://roadshow.sseinfo.com）（以下简称"上证路演中心"） 会议召开方式：现场交流、视频直播和网络文字互动 会议问题征集：投资者可于2023年5月22日（星期一）16:00前通 过本公司公开邮箱（sh600482@163.com）进行会前提问。公司将在说明 会上对投资者普遍关注的问题进行回复。 中国船舶重工集团动力股份有限公司（以下简称"公 ...

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 332,687,082.86 for the year 2022, including RMB 36,234,613.98 from the transitional period of the diesel engine business integration[11]. - The proposed cash dividend is RMB 0.47 per share (including tax), totaling RMB 101,552,059.41, based on a total share capital of 2,160,682,115 shares as of December 31, 2022[11]. - The company's operating revenue for 2022 was CNY 38.30 billion, an increase of 10.47% compared to CNY 34.67 billion in 2021[27]. - The net profit attributable to shareholders for 2022 was CNY 332.69 million, a decrease of 47.60% from CNY 634.94 million in 2021[28]. - The net cash flow from operating activities decreased by 44.74% to CNY 310.02 million in 2022, down from CNY 561.01 million in 2021[28]. - The basic earnings per share for 2022 was CNY 0.15, a decline of 48.28% compared to CNY 0.29 in 2021[29]. - The company's total assets increased by 11.31% to CNY 85.87 billion in 2022, up from CNY 77.15 billion in 2021[28]. - The gross profit margin for the main business slightly increased, but the net profit attributable to shareholders decreased significantly due to increased competition and rising costs[30]. - The company reported a 40.32% decline in net profit after deducting non-recurring gains and losses, primarily due to increased sales expenses and credit impairment losses[31]. - The company experienced a cash inflow decrease despite an increase in sales revenue, attributed to higher procurement costs and raw material prices[31]. Business Development and Innovation - The company successfully delivered the world's first new generation intelligent control dual-fuel main engine, CMD-WinGD 7X62DF-2.1iCER[3]. - The company has secured the Shanghai Electric Wind Power Operation and Maintenance Mother Ship project, indicating a strategic expansion in the renewable energy sector[5]. - The company has launched a fully electric battery-powered cruise ship, contributing to green energy initiatives in the Pearl River area[6]. - The high-power diesel engine with complete independent intellectual property rights has received type approval from the China Classification Society[7]. - The company is focused on continuous innovation and development of new technologies to enhance its product offerings[3]. - The company has undergone significant asset restructuring, acquiring stakes in various subsidiaries to strengthen its market position[29]. - The company completed the restructuring of its diesel engine business, contributing to stable overall business development[40]. - The company plans to enhance market share through increased sales efforts, despite the challenges posed by rising costs and competitive pressures[30]. - The company has made significant progress in hydrogen gas turbine research, achieving a 20% hydrogen blending test and a 30% fuel combustion chamber test, reaching an internationally advanced level[54]. - The company has developed the world's first dual-fuel main engine equipped with the new generation iCER system, successfully launching several new products in the diesel engine sector[54]. Environmental and Social Responsibility - The company invested approximately 76.55 million yuan in environmental protection during the reporting period[176]. - The company strictly complied with national and local environmental laws and regulations, with no environmental pollution incidents reported[176]. - The total emissions of nitrogen oxides were recorded at 9.9948 tons, with a concentration of 45 mg/m³, well below the standard of 100 mg/m³[177]. - The company has been designated as a key monitoring enterprise by environmental authorities, with specific pollutant discharge data disclosed[176]. - The company has established mechanisms for environmental protection and actively fulfills its social responsibilities[176]. - The company has reported no exceedances in pollutant discharge limits across various categories during the reporting period[177]. Market Position and Strategy - The company is positioned to benefit from the increasing demand for low-carbon ship power solutions as global carbon emission regulations tighten[59]. - The global energy storage system capacity is projected to reach 362 GWh by 2025, with China expected to become the fastest-growing market for energy storage[61]. - The company has a leading position in the domestic small and medium-sized gas turbine market (5-50MW), with its self-developed 25MW gas turbine products achieving international advanced levels[66]. - The company is actively pursuing new product development in the field of lithium-ion batteries and related technologies[121]. - The company aims to enhance its core military capabilities and complete various equipment production tasks on schedule, supporting the construction of a world-class navy[130]. - The company plans to enhance its market presence through strategic investments and technology transfers in the energy sector[120]. Corporate Governance and Management - The company held three shareholder meetings in 2022 to discuss important matters such as annual profit distribution and major asset restructuring[140]. - The board of directors convened ten meetings during the reporting period, with the audit committee holding four meetings to oversee the audit process[142]. - The company improved its information disclosure quality, issuing 84 temporary announcements and 4 regular reports in 2022[143]. - The company has established a scientific and efficient decision-making mechanism to enhance operational efficiency[141]. - The total pre-tax remuneration for the reporting period for the board members and senior management was CNY 553.69 million[148]. - The company has a stable management team with no significant changes in personnel reported[149].

Financial Performance - The company's operating revenue for Q1 2023 was CNY 9,162,271,960.30, representing a year-on-year increase of 24.29% compared to CNY 5,952,713,568.50 in the same period last year[5]. - The net profit attributable to shareholders decreased by 54.24% year-on-year, amounting to CNY 33,863,468.28, down from CNY 73,995,778.92 in the previous year[6]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 67.68%, totaling CNY 18,197,858.00 compared to CNY 56,303,687.02 last year[7]. - Basic and diluted earnings per share both decreased by 54.24%, from CNY 0.034 to CNY 0.016[7]. - Net profit for Q1 2023 was CNY 46,355,419.99, a decrease of 48.7% compared to CNY 90,356,435.91 in Q1 2022[23]. - The company reported a total comprehensive income of CNY 46,355,419.99 for Q1 2023, compared to CNY 92,535,683.76 in Q1 2022[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 89,253,403,029.0, an increase of 3.94% from CNY 85,867,792,662.0 at the end of the previous year[5]. - As of March 31, 2023, the total assets of China Shipbuilding Industry Group Power Co., Ltd. amounted to CNY 89,253,403,029.09, an increase from CNY 85,867,792,662.42 as of December 31, 2022, reflecting a growth of approximately 4.05%[17]. - The total liabilities as of Q1 2023 were CNY 43,542,076,777.04, an increase from CNY 40,212,659,891.82 in the previous year[20]. - The company's total liabilities as of March 31, 2023, were not explicitly stated but are implied to be lower than the previous period due to the decrease in current liabilities[18]. - Total liabilities reached approximately ¥40.21 billion, with current liabilities at ¥30.74 billion and non-current liabilities at ¥9.47 billion[39]. Cash Flow - The company reported a net cash flow from operating activities of CNY 258,281,792.83, a significant improvement from a negative cash flow of CNY -746,636,441.47 in the previous year[5]. - Operating cash inflow for Q1 2023 was CNY 10,564,854,452.16, a 25.5% increase from CNY 8,422,302,080.17 in Q1 2022[27]. - Net cash flow from operating activities was CNY 258,281,792.83, compared to a negative CNY 1,030,755,381.87 in the same period last year[27]. - Cash inflow from investment activities totaled CNY 339,778,590.42, up from CNY 243,490,129.01 in Q1 2022[28]. - Cash inflow from financing activities was CNY 2,821,080,000.00, down from CNY 3,816,600,000.00 in Q1 2022[28]. Research and Development - The company's R&D expenses increased by 35.92%, indicating a focus on innovation and development[11]. - The company's R&D expenses in Q1 2023 amounted to CNY 280,900,467.83, compared to CNY 206,669,221.70 in Q1 2022, indicating a 35.8% increase[22]. - The company received government subsidies related to R&D amounting to CNY 18,218,118.98, which are classified as regular income[10]. Shareholder Information - The company’s major shareholders include China Shipbuilding Industry Group with a 26.0% stake and China Shipbuilding Corporation with a 21.0% stake[13]. - The total equity attributable to shareholders reached CNY 35,590,890,986.55, up from CNY 35,550,068,641.50 in Q1 2022[20]. - Shareholders' equity totaled approximately ¥45.66 billion, with equity attributable to the parent company at ¥35.55 billion[40]. Inventory and Receivables - Accounts receivable increased to CNY 12,946,297,465.81 from CNY 11,768,854,650.82, representing a growth of approximately 10.00%[18]. - Inventory levels rose to CNY 16,641,680,871.15, compared to CNY 15,401,475,857.73, marking an increase of about 8.06%[18]. - The company reported inventory of approximately ¥15.40 billion, indicating a significant asset base[38]. Debt and Financing - The company experienced an increase in long-term borrowings by 85.23%, reflecting a strategy to leverage lower interest rates for financing[11]. - Long-term borrowings increased to CNY 4,842,592,000.00 in Q1 2023, compared to CNY 2,614,392,000.00 in Q1 2022[20]. - The company has a total of approximately ¥2.18 billion in bonds payable, indicating a significant debt obligation[43]. Other Information - The company has not disclosed any new product launches or technological advancements in this quarter[16]. - There are no significant mergers or acquisitions reported during this period[16]. - The report does not indicate any new product launches or technological advancements during this quarter[44]. - There are no mentions of market expansion or mergers and acquisitions in the current report[44]. - The company has not provided specific future guidance or performance outlook in this document[44]. - The board of directors announced the report on April 26, 2023, ensuring timely communication with stakeholders[44].

[Important Notice](index=3&type=section&id=Item%20I.%20Important%20Notice) This section confirms the report's authenticity and audit status, emphasizing board responsibility and the unaudited nature of the quarterly report [Report Authenticity and Audit Status](index=3&type=section&id=1.1%20Report%20Authenticity%20and%20Audit%20Status) The company's board, supervisory board, and senior management guarantee the report's accuracy and completeness, with all directors approving it, though unaudited - The company's board, supervisory board, and senior management guarantee the quarterly report's truthfulness, accuracy, and completeness, assuming individual and joint legal responsibility[3](index=3&type=chunk) - All company directors attended the board meeting to review the quarterly report[3](index=3&type=chunk) - This first quarter report is unaudited[3](index=3&type=chunk) [Company Basic Information](index=3&type=section&id=Item%20II.%20Company%20Basic%20Information) This section provides an overview of the company's key financial performance, shareholder structure, and other fundamental operational details [Key Financial Data](index=3&type=section&id=2.1%20Key%20Financial%20Data) Total assets and net assets attributable to shareholders increased, with operating revenue growing by **66.74%**, net profit turning profitable, and weighted average ROE significantly improving, while operating cash outflow narrowed Key Financial Data Summary | Metric | Current Period End/Year-to-Date (CNY) | Prior Year End/Prior Year-to-Date (CNY) | Change (%) | | :--- | :--- | :--- | :--- | | **Balance Sheet Items** | | | | | Total Assets | 60,688,190,552.14 | 58,744,689,010.30 | 3.31% | | Net Assets Attributable to Shareholders | 35,910,719,803.62 | 35,782,597,655.99 | 0.36% | | **Income Statement Items** | | | | | Operating Revenue | 6,236,230,451.70 | 3,740,188,408.68 | 66.74% | | Net Profit Attributable to Shareholders | 146,941,776.46 | -34,305,864.84 | - | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 71,456,425.67 | -57,857,675.64 | - | | Weighted Average Return on Equity (%) | 0.36 | -0.13 | Increased by 0.49 percentage points | | Basic Earnings Per Share (CNY/share) | 0.07 | -0.02 | - | | Diluted Earnings Per Share (CNY/share) | 0.07 | -0.02 | - | | **Cash Flow Statement Items** | | | | | Net Cash Flow from Operating Activities | -269,849,884.33 | -406,657,171.47 | N/A | Non-Recurring Items | Non-Recurring Items | Current Period Amount (CNY) | | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | -626,256.95 | | Government Grants Recognized in Current Profit/Loss | 61,724,540.34 | | Net Profit/Loss of Subsidiaries from Beginning of Period to Merger Date under Common Control | -1,739,559.10 | | Other Non-Operating Income and Expenses | 6,478,436.67 | | Other Profit/Loss Items Meeting Definition of Non-Recurring Items | 22,858,872.16 | | Impact of Minority Interests (After Tax) | -13,131,304.65 | | Income Tax Impact | -79,377.68 | | **Total** | **75,485,350.79** | [Total Shareholders, Top Ten Shareholders, and Top Ten Floating Shareholders at Period End](index=4&type=section&id=2.2%20Total%20Shareholders%2C%20Top%20Ten%20Shareholders%2C%20and%20Top%20Ten%20Floating%20Shareholders%20at%20Period%20End) As of the reporting period end, the company had **41,854 shareholders**, with China Shipbuilding Industry Corporation and its affiliates holding a significant stake among the top ten, indicating state-owned control - As of the end of the reporting period, the total number of shareholders was **41,854**[6](index=6&type=chunk) Top Ten Shareholders | Shareholder Name | Shares Held at Period End | Proportion (%) | Shareholder Nature | | :--- | :--- | :--- | :--- | | China Shipbuilding Industry Corporation Limited | 563,578,173 | 26.08 | State-owned Legal Person | | China Shipbuilding Industry Co., Ltd. | 454,731,000 | 21.05 | State-owned Legal Person | | China Cinda Asset Management Co., Ltd. | 118,081,403 | 5.47 | State-owned Legal Person | | Shenzhen Hongta Asset - CITIC Bank - CITIC Trust - CITIC Hongshang Financial Investment Project Phase 1601 Single Fund Trust | 100,666,107 | 4.66 | Domestic Non-State-owned Legal Person | | Shenzhen Xinhua Futime - CITIC Bank - SDIC Taikang Trust - SDIC Taikang Trust Jindiao No. 399 Single Fund Trust | 100,661,073 | 4.66 | Domestic Non-State-owned Legal Person | - China Shipbuilding Industry Co., Ltd. and Institute 704 are parties acting in concert with China Shipbuilding Industry Corporation[9](index=9&type=chunk) [Preferred Shareholder Holdings](index=6&type=section&id=2.3%20Preferred%20Shareholder%20Holdings%20at%20Period%20End) The company had no preferred shareholders at the end of the reporting period, rendering this disclosure inapplicable - The company has no preferred shareholders, so this item is not applicable[9](index=9&type=chunk) [Significant Events](index=7&type=section&id=Item%20III.%20Significant%20Events) This section details major changes in financial statement items and indicators, progress of significant matters, and any unfulfilled commitments [Significant Changes in Key Financial Statement Items and Indicators](index=7&type=section&id=3.1%20Significant%20Changes%20in%20Key%20Financial%20Statement%20Items%20and%20Indicators) During the reporting period, several financial indicators experienced significant changes, with contract liabilities, operating revenue, and other income increasing due to business recovery and government subsidies, while employee compensation, other payables, and R&D expenses decreased Major Financial Statement Item Changes | Account Name | Period-End Balance/Current Period Amount (CNY) | Period-Beginning Balance/Prior Period Amount (CNY) | Variance Rate (%) | Reason | | :--- | :--- | :--- | :--- | :--- | | Contract Liabilities | 3,005,442,747.90 | 1,810,326,851.74 | 66.02 | Receipts before settlement period | | Employee Compensation Payable | 148,340,182.72 | 244,005,156.86 | -39.21 | Payment of accrued prior year-end bonuses | | Other Payables | 396,490,497.60 | 847,155,695.55 | -53.20 | Repayment of working capital replenishment funds | | Non-Current Liabilities Due Within One Year | 698,931,885.11 | 310,183,284.28 | 125.33 | Receipts before settlement period | | Operating Revenue | 6,236,230,451.70 | 3,740,188,408.68 | 66.74 | Prior period affected by epidemic, current period gradually recovering | | Operating Cost | 5,519,320,317.78 | 3,311,849,631.06 | 66.65 | Increased revenue, corresponding increase in costs | | Taxes and Surcharges | 95,011,858.52 | 59,587,166.85 | 59.45 | Increased revenue, corresponding increase in surtaxes | | Selling Expenses | 139,824,636.98 | 122,244,634.44 | 14.38 | Increased three-guarantee claim expenses in current period | | Administrative Expenses | 299,606,842.43 | 190,356,927.65 | 57.39 | Increased employee compensation in current period | | Research and Development Expenses | 103,741,322.17 | 150,927,198.98 | -31.26 | Some R&D projects not yet initiated according to R&D plan | | Financial Expenses | -12,982,172.76 | -241,693.10 | 5271.35 | Increased interest income in current period | | Other Income | 69,929,668.91 | 42,399,861.83 | 64.93 | Increased government grants received in current period | | Investment Income | 6,091,965.71 | 12,267.61 | 49558.95 | Increased investment income accounted for under equity method in current period | | Credit Impairment Losses | -8,812,997.41 | -111,573.66 | 7798.82 | Increase due to new accounting estimate change | | Non-Operating Income | 24,766,398.63 | 37,761,460.14 | -34.41 | Received customer litigation compensation in the same period last year | | Income Tax Expense | 24,252,014.40 | 13,763,236.21 | 76.21 | Total profit realized this year increased compared to the same period last year | [Progress of Significant Events](index=8&type=section&id=3.2%20Progress%20of%20Significant%20Events) The company had no significant events requiring disclosure of progress during the reporting period - There were no significant events, their impact, or explanations of solutions requiring disclosure during the reporting period[11](index=11&type=chunk) [Overdue Unfulfilled Commitments](index=8&type=section&id=3.3%20Overdue%20Unfulfilled%20Commitments) The company had no overdue unfulfilled commitments during the reporting period - There were no overdue unfulfilled commitments during the reporting period[11](index=11&type=chunk) [Warning of Significant Changes in Cumulative Net Profit](index=8&type=section&id=3.4%20Warning%20of%20Significant%20Changes%20in%20Cumulative%20Net%20Profit) The company has not issued a warning regarding potential cumulative net profit loss or significant changes from the beginning of the year to the end of the next reporting period - The company has not issued a warning regarding potential cumulative net profit loss or significant changes[11](index=11&type=chunk) [Appendix](index=8&type=section&id=Item%20IV.%20Appendix) This section includes the company's consolidated and parent company financial statements, along with disclosures on new lease accounting standards and audit status [Financial Statements](index=8&type=section&id=4.1%20Financial%20Statements) This section presents the company's consolidated and parent company balance sheets, income statements, and cash flow statements for Q1 2021, detailing financial position, operating results, and cash flows [Consolidated Balance Sheet](index=8&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2021, consolidated total assets reached **CNY 60.688 billion**, a **3.31% increase** from year-end, with total liabilities at **CNY 23.998 billion** and total owner's equity at **CNY 36.690 billion** | Item | March 31, 2021 (CNY) | December 31, 2020 (CNY) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 10,229,846,298.96 | 10,579,173,507.64 | | Accounts Receivable | 12,274,679,286.57 | 11,655,843,735.92 | | Inventories | 11,051,332,570.52 | 10,110,544,256.87 | | Total Current Assets | 42,274,766,618.03 | 40,462,575,401.15 | | Fixed Assets | 8,227,483,097.87 | 8,266,236,455.66 | | Total Non-Current Assets | 18,413,423,934.11 | 18,282,113,609.15 | | **Total Assets** | **60,688,190,552.14** | **58,744,689,010.30** | | Short-Term Borrowings | 2,278,000,000.00 | 1,780,626,624.99 | | Contract Liabilities | 3,005,442,747.90 | 1,810,326,851.74 | | Total Current Liabilities | 17,832,441,577.90 | 15,530,229,094.08 | | Long-Term Borrowings | 1,309,300,000.00 | 1,779,000,000.00 | | Total Non-Current Liabilities | 6,165,707,128.62 | 6,663,435,295.56 | | **Total Liabilities** | **23,998,148,706.52** | **22,193,664,389.64** | | Total Equity Attributable to Parent Company Shareholders | 35,910,719,803.62 | 35,782,597,655.99 | | **Total Shareholders' Equity** | **36,690,041,845.62** | **36,551,024,620.66** | [Parent Company Balance Sheet](index=11&type=section&id=Parent%20Company%20Balance%20Sheet) As of March 31, 2021, parent company total assets were **CNY 38.669 billion**, a slight increase from year-end, with long-term equity investments as the primary non-current asset at **CNY 30.263 billion** | Item | March 31, 2021 (CNY) | December 31, 2020 (CNY) | | :--- | :--- | :--- | | Cash and Cash Equivalents | 1,682,230,584.78 | 1,471,625,094.55 | | Other Receivables | 6,644,915,900.90 | 6,849,213,751.39 | | Total Current Assets | 8,330,840,798.16 | 8,323,925,744.95 | | Long-Term Equity Investments | 30,263,495,600.15 | 30,263,495,600.15 | | Total Non-Current Assets | 30,338,327,063.19 | 30,338,194,134.22 | | **Total Assets** | **38,669,167,861.35** | **38,662,119,879.17** | | Employee Compensation Payable | 0.00 | 1,416,630.00 | | Total Current Liabilities | 3,164,782.07 | 4,573,392.23 | | Bonds Payable | 2,091,283,141.87 | 2,075,374,430.46 | | Total Non-Current Liabilities | 2,091,283,141.87 | 2,075,374,430.46 | | **Total Liabilities** | **2,094,447,923.94** | **2,079,947,822.69** | | Total Shareholders' Equity | 36,574,719,937.41 | 36,582,172,056.48 | [Consolidated Income Statement](index=13&type=section&id=Consolidated%20Income%20Statement) In Q1 2021, consolidated operating revenue was **CNY 6.236 billion**, a **66.74% year-on-year increase**, with operating profit turning to **CNY 160 million** from a loss, and net profit attributable to parent company shareholders at **CNY 147 million** | Item | Q1 2021 (CNY) | Q1 2020 (CNY) | | :--- | :--- | :--- | | Total Operating Revenue | 6,236,230,451.70 | 3,740,188,408.68 | | Total Operating Cost | 6,144,522,805.12 | 3,834,723,865.88 | | Operating Profit | 160,131,525.33 | -51,899,222.12 | | Total Profit | 182,123,761.88 | -15,893,409.80 | | Net Profit | 157,871,747.48 | -29,656,646.01 | | Net Profit Attributable to Parent Company Shareholders | 146,941,776.46 | -34,305,864.84 | | Basic Earnings Per Share (CNY/share) | 0.07 | -0.02 | | Diluted Earnings Per Share (CNY/share) | 0.07 | -0.02 | [Parent Company Income Statement](index=15&type=section&id=Parent%20Company%20Income%20Statement) In Q1 2021, parent company total profit was **CNY 17.856 million** and net profit was **CNY 15.298 million**, a decrease from the prior year, with financial expenses turning positive due to reduced interest income and increased interest expenses | Item | Q1 2021 (CNY) | Q1 2020 (CNY) | | :--- | :--- | :--- | | Taxes and Surcharges | 15,288.12 | 15,019.02 | | Administrative Expenses | -18,289,311.18 | 1,694,009.58 | | Financial Expenses | 417,715.06 | -25,682,675.64 | | Including: Interest Expense | 15,601,039.15 | 709,166.67 | | Interest Income | 15,734,240.09 | 25,748,510.67 | | Operating Profit | 17,856,308.00 | 23,973,647.04 | | Total Profit | 17,856,308.00 | 23,973,647.04 | | Income Tax Expense | 2,558,427.07 | 5,990,378.89 | | Net Profit | 15,297,880.93 | 17,983,268.15 | | Total Comprehensive Income | 15,297,880.93 | 17,983,268.15 | [Consolidated Cash Flow Statement](index=16&type=section&id=Consolidated%20Cash%20Flow%20Statement) In Q1 2021, net cash flow from operating activities was **-CNY 270 million**, an improvement from the prior year's outflow, while net cash flow from investing activities increased outflow, and financing activities turned positive with **CNY 81 million** inflow | Item | Q1 2021 (CNY) | Q1 2020 (CNY) | | :--- | :--- | :--- | | Cash Received from Sales of Goods and Services | 6,827,374,335.13 | 3,749,048,202.68 | | Subtotal Cash Inflows from Operating Activities | 7,231,967,968.46 | 4,056,354,534.97 | | Cash Paid for Goods and Services | 5,677,587,305.84 | 3,271,867,250.56 | | Subtotal Cash Outflows from Operating Activities | 7,501,817,852.79 | 4,463,011,706.44 | | **Net Cash Flow from Operating Activities** | **-269,849,884.33** | **-406,657,171.47** | | Subtotal Cash Inflows from Investing Activities | 118,529,823.23 | 13,472,080.33 | | Subtotal Cash Outflows from Investing Activities | 465,862,114.89 | 298,744,576.73 | | **Net Cash Flow from Investing Activities** | **-347,332,291.66** | **-285,272,496.40** | | Cash Received from Borrowings | 5,315,000,000.00 | 4,319,000,000.00 | | Subtotal Cash Inflows from Financing Activities | 5,340,640,000.00 | 4,319,000,000.00 | | Cash Paid for Debt Repayment | 5,025,700,000.00 | 4,370,245,138.89 | | Subtotal Cash Outflows from Financing Activities | 5,259,975,139.91 | 4,403,257,775.04 | | **Net Cash Flow from Financing Activities** | **80,664,860.09** | **-84,257,775.04** | | Net Increase in Cash and Cash Equivalents | -536,653,868.95 | -769,555,956.92 | | Cash and Cash Equivalents at Period End | 8,801,305,297.86 | 8,070,312,708.02 | [Parent Company Cash Flow Statement](index=18&type=section&id=Parent%20Company%20Cash%20Flow%20Statement) In Q1 2021, parent company net cash flow from operating activities was **CNY 11.092 million**, a decrease from the prior year, while net cash flow from investing activities turned positive at **CNY 199.987 million**, and financing cash outflow decreased to **CNY 0.474 million** | Item | Q1 2021 (CNY) | Q1 2020 (CNY) | | :--- | :--- | :--- | | Subtotal Cash Inflows from Operating Activities | 20,400,152.02 | 26,392,866.31 | | Subtotal Cash Outflows from Operating Activities | 9,307,822.90 | 8,576,342.01 | | **Net Cash Flow from Operating Activities** | **11,092,329.12** | **17,816,524.30** | | Subtotal Cash Inflows from Investing Activities | 1,300,000,000.00 | 0.00 | | Subtotal Cash Outflows from Investing Activities | 1,100,013,200.00 | 66,360,000.00 | | **Net Cash Flow from Investing Activities** | **199,986,800.00** | **-66,360,000.00** | | Cash Received from Borrowings | 2,890,000,000.00 | 3,700,000,000.00 | | Subtotal Cash Inflows from Financing Activities | 2,890,000,000.00 | 3,700,000,000.00 | | Cash Paid for Debt Repayment | 2,890,473,638.89 | 3,700,709,166.67 | | Subtotal Cash Outflows from Financing Activities | 2,890,473,638.89 | 3,700,709,166.67 | | **Net Cash Flow from Financing Activities** | **-473,638.89** | **-709,166.67** | | Net Increase in Cash and Cash Equivalents | 210,605,490.23 | -49,252,642.37 | | Cash and Cash Equivalents at Period End | 1,682,230,584.78 | 921,858,206.52 | [First-Time Adoption of New Lease Standards Adjustment](index=19&type=section&id=4.2%20First-Time%20Adoption%20of%20New%20Lease%20Standards%20Adjustment) The company did not disclose adjustments to the opening financial statements for the current year due to the first-time adoption of new lease standards - The company did not disclose adjustments to the opening financial statements for the current year due to the first-time adoption of new lease standards[29](index=29&type=chunk) [Explanation of Retrospective Adjustment for New Lease Standards](index=19&type=section&id=4.3%20Explanation%20of%20Retrospective%20Adjustment%20for%20New%20Lease%20Standards) The company stated that no retrospective adjustments were made to prior comparative data to reflect the impact of the new lease standards - The company stated that no retrospective adjustments were made to prior comparative data to reflect the impact of the new lease standards[29](index=29&type=chunk) [Audit Report](index=19&type=section&id=4.4%20Audit%20Report) This quarterly report is unaudited - This quarterly report is unaudited[29](index=29&type=chunk)