CSN(600029)2025-04-29 11:40Financial Performance - The operating revenue for the first quarter was RMB 43,407 million, a decrease of 2.68% compared to the same period last year[4] - The net profit attributable to shareholders was a loss of RMB 747 million, compared to a profit of RMB 756 million in the previous year, indicating a significant decline[4] - The net loss for Q1 2025 was 1,518 million RMB, compared to a profit of 146 million RMB in Q1 2024[18] - The net profit for the first quarter of 2025 was -369 million RMB, compared to a net profit of 1,256 million RMB in the same period of 2024, representing a decline of 129.4%[19] - The total comprehensive income attributable to the parent company was -747 million RMB, compared to 756 million RMB in the same period last year[19] - The total profit for the first quarter was 33 million RMB, a decrease of 97.9% from 1,583 million RMB in the previous year[19] Cash Flow and Liquidity - The net cash flow from operating activities was RMB 4,432 million, down 54.67% year-on-year, primarily due to increased cash payments for goods and services exceeding cash inflows[5] - Cash flow from operating activities generated a net amount of 4,432 million RMB, down 54.7% from 9,777 million RMB in the first quarter of 2024[20] - Cash and cash equivalents decreased from 15,994 million RMB as of December 31, 2024, to 14,477 million RMB as of March 31, 2025[14] - Cash and cash equivalents at the end of the first quarter of 2025 totaled 11,892 million RMB, a decrease from 9,692 million RMB at the end of the first quarter of 2024[21] - The company experienced a net cash outflow from investing activities of -2,197 million RMB, an improvement from -3,649 million RMB in the previous year[21] - Total cash inflow from financing activities was 22,031 million RMB, compared to 7,376 million RMB in the first quarter of 2024, indicating a significant increase of 198.5%[21] - The company incurred a total operating cash outflow of 42,609 million RMB, which is an increase from 40,142 million RMB year-over-year[20] Assets and Liabilities - Total assets at the end of the reporting period were RMB 330,243 million, a slight increase of 0.15% from the end of the previous year[5] - The total assets as of March 31, 2025, were 330,243 million RMB, a slight increase from 329,738 million RMB at the end of 2024[17] - The total liabilities increased from 277,143 million RMB at the end of 2024 to 278,017 million RMB as of March 31, 2025[16] - The company's long-term borrowings stood at 36,394 million RMB, up from 35,985 million RMB at the end of 2024[16] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 150,753[9] - The largest shareholder, China Southern Airlines Group Co., Ltd., holds 51.90% of the shares, totaling 9,404,468,936 shares[9] Earnings and Profitability - The basic earnings per share were -0.04 RMB, compared to 0.04 RMB in the same period last year, reflecting a negative performance shift[5] - The weighted average return on equity was -2.17%, compared to 2.03% in the same period last year, indicating a decline in profitability[5] - The total operating profit for the first quarter was -69 million RMB, a significant decrease from 1,519 million RMB year-over-year[19] Other Financial Metrics - The company reported non-recurring gains and losses totaling RMB 413 million, with significant contributions from asset disposals and government subsidies[6] - The company reported a decrease in employee compensation payable from 4,716 million RMB in Q4 2024 to 3,275 million RMB in Q1 2025[16] - The company’s research and development expenses increased to 160 million RMB in Q1 2025, compared to 134 million RMB in Q1 2024[18] - The total operating costs for Q1 2025 were 44,225 million RMB, slightly higher than Q1 2024's 44,147 million RMB[18]