中国神华(01088) - 2025 Q1 - 季度业绩

Financial Performance - Total revenue for Q1 2025 was RMB 69,585 million, a decrease of 21.1% compared to RMB 88,162 million in the same period last year[7]. - Net profit attributable to shareholders for Q1 2025 was RMB 13,374 million, down 19.0% from RMB 16,521 million in the previous year[7]. - Basic earnings per share for Q1 2025 were RMB 0.673, a decline of 19.0% from RMB 0.831 in the same period last year[7]. - The net profit attributable to shareholders under Chinese accounting standards for Q1 2025 was RMB 11,949 million, down from RMB 14,564 million in Q1 2024[11]. - Pre-tax profit decreased by 18.4% to RMB 11,378 million in Q1 2025 from RMB 13,947 million in Q1 2024[33]. - Pre-tax profit for 2025 was RMB 19,592 million, down 16.8% from RMB 23,575 million in 2024[51]. - Net profit for 2025 was RMB 16,298 million, a decrease of 16.5% compared to RMB 19,549 million in 2024[51]. - Total comprehensive income for 2025 was RMB 16,319 million, down 16.5% from RMB 19,534 million in 2024[51]. - Basic earnings per share for 2025 was RMB 0.673, a decline of 19% from RMB 0.831 in 2024[51]. Cash Flow and Assets - Cash inflow from operating activities for Q1 2025 was RMB 20,538 million, a decrease of 25.9% compared to RMB 27,708 million in Q1 2024[7]. - As of March 31, 2025, the company's cash and cash equivalents increased by 18.6% to RMB 78,742 million compared to RMB 66,413 million on December 31, 2024, due to net cash inflow from operating activities[15]. - The net cash inflow from operating activities for Q1 2025 was RMB 20,538 million, a decrease of 25.9% from RMB 27,708 million in Q1 2024, attributed to a decline in revenue from coal, power generation, and transportation businesses[17]. - Total assets as of March 31, 2025, were RMB 675,837 million, reflecting a slight increase of 0.6% from RMB 671,639 million at the end of the previous year[7]. - Total non-current assets as of March 31, 2025, were RMB 467,128 million, an increase of 0.1% from RMB 464,500 million at the end of 2024[53]. - Total current assets as of March 31, 2025, were RMB 208,709 million, slightly up from RMB 207,139 million at the end of 2024[53]. - Total liabilities decreased to RMB 159,423 million as of March 31, 2025, from RMB 171,377 million at the end of 2024, reflecting a reduction of 6.9%[54]. Operational Highlights - The acquisition of 100% equity in Hanjin Energy was completed on February 11, 2025, contributing RMB 1,025 million in revenue for Q1 2025[9]. - Hanjin Energy's coal sales volume for Q1 2025 was 3.24 million tons, an increase from 2.11 million tons in the same period last year[9]. - The company reported a decrease in electricity sales volume and average selling price, impacting overall revenue[14]. - The coal production volume in Q1 2025 was 82.5 million tons, a decrease of 1.1% from 83.4 million tons in Q1 2024[26]. - The coal sales volume dropped by 15.3% to 99.3 million tons in Q1 2025 from 117.3 million tons in Q1 2024[26]. - The average selling price of coal decreased by 11.5% to RMB 506 per ton in Q1 2025 from RMB 572 per ton in Q1 2024[31]. - The average utilization hours for domestic power generation decreased by 13.6% to 1,062 hours in Q1 2025 from 1,229 hours in Q1 2024[38]. - The group added 1,241 MW of new installed capacity during the reporting period, including 1,200 MW from the acquisition of Hanjin Energy[41]. Cost and Expenses - Operating costs for Q1 2025 decreased by 20.8% to RMB 48,254 million from RMB 60,962 million in Q1 2024[14]. - The unit production cost of self-produced coal increased by 6.2% to RMB 180.2 per ton in Q1 2025 from RMB 169.7 per ton in Q1 2024[37]. - The gross profit margin remained stable at 25.5% in Q1 2025, unchanged from Q1 2024[33]. - The gross profit margin for Q1 2025 was 15.1%, down from 16.6% in Q1 2024, reflecting a decrease of 1.5 percentage points[43]. - The company's accounts payable and notes payable decreased by 20.6% to RMB 30,927 million from RMB 38,961 million, indicating a reduction in payable materials and project costs[15]. - The company's prepaid expenses and other current assets increased by 8.1% to RMB 17,883 million, driven by increased prepayments for land costs[15]. - The company reported a significant reduction in investment cash outflow, which decreased by 94.9% to RMB (1,268) million in Q1 2025 from RMB (25,084) million in Q1 2024, due to a decrease in fixed deposits[17]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 193,774, with A-share shareholders accounting for 192,026[18]. - The largest shareholder, State Energy Investment Group Co., Ltd., holds 69.52% of the shares, totaling 13,812,709,196 shares[20].