SCG(600170)2025-04-29 08:00Financial Performance - The company's operating revenue for Q1 2025 was CNY 40.32 billion, a decrease of 46.06% compared to CNY 74.74 billion in the same period last year[4] - The net profit attributable to shareholders was a loss of CNY 179.40 million, down 161.79% from a profit of CNY 290.35 million year-on-year[4] - Basic and diluted earnings per share were both CNY -0.04, representing a 300% decrease from CNY 0.02 in the previous year[4] - The company reported a total comprehensive loss of CNY 273.29 million for Q1 2025, compared to a comprehensive income of CNY 300.81 million in Q1 2024[21] - The net profit for Q1 2025 was a loss of CNY 175.76 million, contrasting with a net profit of CNY 329.30 million in Q1 2024, indicating a significant downturn[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 348.68 billion, a decline of 9.87% from CNY 386.87 billion at the end of the previous year[5] - The total current assets decreased from 293.28 billion RMB at the end of 2024 to 257.94 billion RMB by March 31, 2025[13] - The company's total liabilities decreased from 334.99 billion RMB at the end of 2024 to 297.35 billion RMB by March 31, 2025[15] - The total non-current assets decreased from 93.59 billion RMB at the end of 2024 to 90.74 billion RMB by March 31, 2025[14] - The total assets as of March 31, 2025, amounted to ¥100,872,221,745.96, down from ¥110,839,832,730.11 as of December 31, 2024[28] - The total liabilities decreased to ¥61,410,581,036.16 from ¥71,171,154,957.82 over the same period[28] Cash Flow - The cash flow from operating activities was a negative CNY 23.28 billion, an improvement of 8.04% compared to a negative CNY 25.32 billion in the same period last year[4] - The cash flow from operating activities for Q1 2025 was a net outflow of CNY 23.28 billion, compared to a net outflow of CNY 25.32 billion in Q1 2024, showing a slight improvement[24] - The total cash inflow from investing activities in Q1 2025 was CNY 1.64 billion, slightly lower than CNY 1.74 billion in Q1 2024[24] - The net cash flow from financing activities for Q1 2025 was CNY 2.19 billion, a decrease from CNY 5.14 billion in Q1 2024, reflecting a reduction in financing activities[25] - The ending cash and cash equivalents balance as of Q1 2025 was 16.60 billion, down from 19.33 billion in Q1 2024, reflecting a decrease of about 14.1%[34] Operational Highlights - The decline in operating revenue was primarily due to a decrease in new contract amounts and a slowdown in order execution[6] - In Q1 2025, the company signed new contracts totaling 64.548 billion RMB, with 9 major projects over 5 billion RMB each, amounting to 6.838 billion RMB[11] - The company achieved a revenue of 2.24 billion RMB from gold sales, representing an 8% year-over-year increase, with total gold sales of 11,676 ounces[11] - The construction segment accounted for 86.54% of total revenue, generating 34.72 billion RMB, with a gross profit of 1.764 billion RMB, which is 59.38% of the segment's revenue[12] - The company reported a 9% year-over-year increase in new contracts signed in the Yangtze River Delta region (excluding Shanghai) in Q1 2025[11] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 195,813[9] - The largest shareholder, Shanghai Construction Group Co., Ltd., held 30.26% of the shares, totaling 2.69 billion shares[9] Research and Development - Research and development expenses for Q1 2025 were CNY 708.89 million, down from CNY 1.37 billion in Q1 2024, marking a reduction of approximately 48%[20] - Research and development expenses for Q1 2025 were ¥22,544,263.20, significantly lower than ¥64,267,481.25 in Q1 2024, suggesting a cutback in innovation spending[29] Risk Management - The company is focused on risk prevention and management to mitigate economic risks and ensure safety in production[11] - The company plans to enhance market penetration and management efficiency to achieve its annual budget goals[11] - The company aims to improve the conversion rate from orders to revenue through refined management practices[11]