上汽集团(600104) - 2025 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2025 was CNY 140.86 billion, a decrease of 1.55% compared to CNY 143.07 billion in the same period last year[4] - Net profit attributable to shareholders increased by 11.40% to CNY 3.02 billion, up from CNY 2.71 billion year-on-year[4] - The net profit for Q1 2025 reached CNY 4,005,411,123.74, a significant increase from CNY 2,853,374,180.23 in Q1 2024, representing a growth of approximately 40.1%[17] - The company reported a total profit of CNY 4,952,421,158.06 for Q1 2025, compared to CNY 3,390,584,262.01 in Q1 2024, which is an increase of approximately 46.1%[17] - The total comprehensive income for Q1 2025 was CNY 5,197,260,693.57, up from CNY 3,179,839,088.57 in Q1 2024, reflecting an increase of approximately 63.2%[18] Cash Flow and Operating Activities - The net cash flow from operating activities improved significantly, reaching CNY 4.00 billion, a 187.98% increase from a negative cash flow of CNY 4.55 billion in the previous year[4] - The net cash flow from operating activities improved to CNY 3,999,810,506.51 in Q1 2025, contrasting with a negative cash flow of CNY -4,546,142,477.94 in Q1 2024[21] - The company experienced a decrease in cash inflow from sales of goods and services, which was CNY 138,793,769,763.87 in Q1 2025, down from CNY 157,956,226,963.11 in Q1 2024, a decline of about 12.1%[20] Earnings and Shareholder Returns - The basic earnings per share rose to CNY 0.264, reflecting an increase of 11.86% compared to CNY 0.236 in the same period last year[4] - Basic earnings per share for Q1 2025 were CNY 0.264, compared to CNY 0.236 in Q1 2024, marking an increase of about 11.9%[18] - The weighted average return on equity improved to 1.04%, an increase of 0.10 percentage points from 0.94%[4] Assets and Liabilities - Total assets decreased by 3.12% to CNY 927.30 billion from CNY 957.14 billion at the end of the previous year[5] - Total assets as of March 31, 2025, were CNY 927.30 billion, down from CNY 957.14 billion as of December 31, 2024, a decrease of 3.1%[14] - Total liabilities as of March 31, 2025, were CNY 572.93 billion, compared to CNY 610.41 billion as of December 31, 2024, a decrease of 6.1%[13] - Shareholders' equity increased to CNY 354.37 billion as of March 31, 2025, from CNY 346.73 billion as of December 31, 2024, an increase of 2.2%[14] Revenue and Costs - Operating income for Q1 2025 was CNY 137.68 billion, down from CNY 138.98 billion in Q1 2024, reflecting a decline of 0.9%[16] - Total operating costs for Q1 2025 were CNY 140.34 billion, down 2% from CNY 143.32 billion in Q1 2024[16] - Interest income decreased to CNY 2.68 billion in Q1 2025 from CNY 3.92 billion in Q1 2024, a drop of 31.6%[16] - Research and development expenses for Q1 2025 were CNY 3.88 billion, slightly lower than CNY 3.95 billion in Q1 2024, a decrease of 1.7%[16] Vehicle Sales - The company sold 94.5 thousand vehicles in Q1 2025, representing a year-on-year increase of 13.3%[6] Government Subsidies - The company received government subsidies amounting to CNY 232.63 million, which positively impacted the financial results[6] Accounting Standards - The new accounting standards or interpretations will be implemented starting from 2025, affecting the financial statements from the beginning of that year[22]