大全能源(688303) - 2025 Q1 - 季度财报

Financial Performance - Revenue for Q1 2025 was CNY 90,724.64 million, a decrease of 69.57% compared to the same period last year[4] - Net profit attributable to shareholders was CNY -55,801.54 million, representing a decline of 268.78% year-on-year[4] - Basic earnings per share were CNY -0.26, down 273.33% from CNY 0.15 in the previous year[4] - Total operating revenue for Q1 2025 was ¥907,246,402.70, a significant decrease of 69.6% compared to ¥2,981,638,964.33 in Q1 2024[25] - The net loss for Q1 2025 was ¥558,015,371.85, compared to a net profit of ¥330,613,498.00 in Q1 2024, indicating a shift in performance[26] - Basic earnings per share for Q1 2025 were -¥0.26, compared to ¥0.15 in Q1 2024, showing a decline in shareholder value[26] Research and Development - Research and development expenses totaled CNY 4,118.36 million, a reduction of 69.89% compared to CNY 13,677.07 million last year[5] - Research and development expenses for Q1 2025 were ¥3,689,559.58, down from ¥11,032,870.24 in Q1 2024, a decrease of 66.6%[25] Cash Flow - Cash flow from operating activities was CNY -81,072.17 million, reflecting a significant decline due to reduced revenue[4] - The net cash flow from operating activities for Q1 2025 was -RMB 81.07 million, an improvement from -RMB 166.80 million in the same period last year[18] - The adjusted net cash flow from operating activities was -RMB 37.64 million, showing a decrease in cash loss compared to -RMB 99.78 million year-over-year[18] - In Q1 2025, the cash inflow from operating activities was CNY 408,070,236.54, a decrease of 59.5% compared to CNY 1,008,295,853.99 in Q1 2024[27] - The net cash outflow from operating activities was CNY -810,721,733.62, improving from CNY -1,668,028,219.69 in the same period last year[27] - The total cash outflow for operating activities was CNY 1,218,791,970.16, a decrease of 54.5% from CNY 2,676,324,073.68 in Q1 2024[27] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,316,607.33 million, down 2.34% from the end of the previous year[5] - The company's total assets amounted to RMB 43.17 billion, a decrease from RMB 44.20 billion at the end of 2024[20] - Total liabilities decreased from ¥4,042,508,028.88 in the previous period to ¥3,564,191,621.95, a reduction of approximately 11.8%[23] - The total equity attributable to shareholders decreased from ¥40,157,741,287.32 to ¥39,601,881,656.05, reflecting a decline of 1.4%[23] - The total liabilities and equity decreased from ¥44,200,249,316.20 to ¥43,166,073,278.00, a decline of approximately 2.3%[23] Production and Sales - In Q1 2025, the company produced 24,810 tons of polysilicon, a decrease of 60.2% year-over-year, and sold 28,008 tons, down 48.1% from the previous year[14] - The average selling price per kilogram was RMB 35.90, a decline of 34.6% compared to RMB 54.92 in Q1 2024, while the unit cost increased by 15.4% to RMB 53.08[14] - The company expects total production for 2025 to be between 110,000 and 140,000 tons, with Q2 production projected at 25,000 to 28,000 tons[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 36,011[9] - Daqo New Energy Corp. held 71.40% of the shares, with a total of 1,531,718,500 shares[9] Investment Activities - The company reported an investment income of ¥43,529,209.75 in Q1 2025, indicating a positive return compared to no investment income reported in Q1 2024[25] - The company reported a significant cash outflow of CNY 6,175,000,000.00 for investments in Q1 2025[28] - The cash inflow from investment activities totaled CNY 5,077,705,369.73, with a net cash outflow of CNY -2,050,160,736.24, compared to a net outflow of CNY -548,307,632.91 in Q1 2024[28] Inventory and Financial Optimization - Inventory as of March 31, 2025, was RMB 1.01 billion, down from RMB 1.20 billion at the end of 2024[21] - The company is focusing on inventory digestion and financial optimization to mitigate the impacts of the ongoing price decline in the polysilicon industry[13] Share Repurchase Plan - The company plans to repurchase shares with a total amount not less than RMB 50 million and not exceeding RMB 100 million, at a price not exceeding RMB 44 per share[12]