CH ENERGY ENG(601868)2025-04-29 12:58Financial Performance - The operating revenue for the first quarter was CNY 100,370,574, representing a year-on-year increase of 3.05% compared to CNY 97,403,938 in the same period last year[4]. - The net profit attributable to shareholders was CNY 1,611,677, showing an increase of 8.83% from CNY 1,480,915 in the previous year[4]. - The net profit after deducting non-recurring gains and losses was CNY 1,385,696, which is a significant increase of 24.03% from CNY 1,117,223 in the same period last year[5]. - The basic earnings per share increased to CNY 0.037, up 8.82% from CNY 0.034 in the previous year[5]. - The total comprehensive income for the first quarter of 2025 was CNY 2,694,339,000, an increase of 18.1% compared to CNY 2,282,365,000 in the first quarter of 2024[28]. - The company's total revenue for Q1 2025 reached RMB 100.37 billion, up 2.0% from RMB 97.40 billion in Q1 2024[26]. - Operating costs for Q1 2025 were RMB 97.31 billion, compared to RMB 94.41 billion in Q1 2024, reflecting a 3.1% increase[26]. - Net profit for Q1 2025 was RMB 2.61 billion, a 11.2% increase from RMB 2.35 billion in Q1 2024[26]. Assets and Liabilities - Total assets at the end of the reporting period reached CNY 904,580,015, reflecting a growth of 4.09% from CNY 869,004,776 at the end of the previous year[5]. - The company's total liabilities increased to CNY 696.37 billion from CNY 663.18 billion, indicating a rise in financial obligations[23]. - The company’s total liabilities increased to CNY 30,723,905 thousand in 2025 from CNY 28,524,603 thousand in 2024, reflecting a growth of 7.7%[36]. - The total assets as of March 31, 2025, were CNY 116,744,200,000, compared to CNY 114,768,026,000 at the end of 2024[34]. - The company’s total liabilities increased to CNY 21,033,855,000 as of March 31, 2025, from CNY 20,834,792,000 at the end of 2024[34]. Cash Flow - The net cash flow from operating activities was negative at CNY -14,509,148, an improvement from CNY -16,193,463 in the same period last year[5]. - The net cash flow from operating activities for Q1 2025 was -CNY 14,509,148,000, an improvement from -CNY 16,193,463,000 in Q1 2024[30]. - The company's cash and cash equivalents decreased to RMB 87.80 billion from RMB 91.16 billion as of December 31, 2024[21]. - The company reported cash and cash equivalents of CNY 1,599,962 thousand at the end of Q1 2025, up from CNY 856,463 thousand at the end of Q1 2024, marking an increase of 87.5%[42]. - The cash flow from operating activities showed a net outflow of CNY 259,947 thousand in Q1 2025, an improvement from a net outflow of CNY 292,023 thousand in Q1 2024[41]. Investments and Projects - The company signed new domestic contracts worth RMB 287.455 billion in Q1 2025, a year-on-year increase of 4.18%, and secured 2.06 million kW of new energy development indicators[14]. - The company’s overseas new contract value reached RMB 101.441 billion, with a year-on-year growth of 10.47%, and new energy and integrated smart energy projects signed abroad increased by 53.7%[14]. - The company has developed the world's first 300 MW compressed air energy storage demonstration project, which has entered stable commercial operation, marking a significant breakthrough in energy storage technology[15]. - The company is actively constructing over 50 green hydrogen and ammonia projects across key regions, with plans for the largest hydrogen energy industrial park in Jilin to be operational by the end of 2025[16]. - The company has signed contracts for key projects including a 445 MW photovoltaic project in Azerbaijan and an ecological restoration project in Kenya, further expanding its market presence[14]. Financing and Shareholder Information - The company issued its first tranche of technology innovation corporate bonds in 2025, with a scale of RMB 2 billion and a coupon rate of 2.33%, setting a new low for long-term bond rates[18]. - The company plans to raise up to RMB 9 billion through a private placement of A-shares, with funds allocated to multiple renewable energy projects[20]. - The company’s total shareholding by its controlling shareholder, China Energy Construction Group, increased to 18,847,137,078 shares, accounting for 45.21% of the total share capital[12]. - The company has extended the validity period of its private placement decision by 12 months to ensure the smooth progress of the issuance[20]. Research and Development - Research and development expenses for Q1 2025 were RMB 2.13 billion, compared to RMB 1.61 billion in Q1 2024, marking a 32.0% increase[27]. - The company is focusing on integrating AI into its operations, launching an "AI+" initiative to enhance energy and industrial integration[16]. - The company has implemented a comprehensive risk control system to prevent major risks, ensuring stable safety production levels[18]. Other Financial Metrics - The company reported a significant increase in accounts receivable, totaling RMB 93.61 billion, up from RMB 85.24 billion[21]. - The company raised CNY 1,366,277,000 from investments in Q1 2025, significantly higher than CNY 282,534,000 in Q1 2024[32]. - The company incurred sales expenses of CNY 143,841 thousand in Q1 2025, up from CNY 123,611 thousand in Q1 2024, representing an increase of 16.3%[37]. - The financial expenses for Q1 2025 were CNY 119,177 thousand, significantly higher than CNY 44,139 thousand in Q1 2024, indicating an increase of 169%[37].