通威股份(600438) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 15,933,400,532, a decrease of 18.58% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 2,592,750,476.3, representing a decline of 229.56% year-on-year[5]. - The basic earnings per share for the period was -0.5759, down 229.46% from -0.1748 in the previous year[6]. - Total revenue for Q1 2025 was CNY 15,933,400,532.91, a decrease of 18.5% compared to CNY 19,570,420,152.69 in Q1 2024[18]. - Net profit for Q1 2025 was a loss of CNY 647,102,617.34, compared to a loss of CNY 3,043,028,227.01 in Q1 2024[19]. - Basic and diluted earnings per share for Q1 2025 were both CNY -0.5759, compared to CNY -0.1748 in Q1 2024[20]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 209,045,313,145, an increase of 6.70% from the end of the previous year[6]. - As of March 31, 2025, the total assets of the company reached RMB 209,045,313,145.76, an increase from RMB 195,916,763,061.99 as of December 31, 2024, reflecting a growth of approximately 6.5%[14]. - The company's current assets totaled RMB 80,914,777,076.18, up from RMB 66,192,918,621.75, indicating a significant increase of about 22.3%[14]. - Total liabilities amounted to RMB 151,037,134,428.35, compared to RMB 137,997,611,563.26, reflecting an increase of about 9.3%[16]. - The company's long-term borrowings rose to RMB 55,801,967,715.90 from RMB 51,244,335,868.59, indicating an increase of approximately 8.8%[16]. Cash Flow - The cash flow from operating activities was a net outflow of CNY 1,456,552,356, slightly worse than the outflow of CNY 1,393,906,280 in the same period last year, a change of -4.49%[5]. - Cash flow from operating activities in Q1 2025 was CNY -1,393,906,280.02, slightly improved from CNY -1,456,552,356.06 in Q1 2024[24]. - Cash inflow from investment activities in Q1 2025 was CNY 5,820,282,885.96, down from CNY 7,933,467,875.90 in Q1 2024[24]. - Cash outflow for purchasing fixed assets in Q1 2025 was CNY 2,454,851,526.24, compared to CNY 7,428,327,350.02 in Q1 2024[24]. - The total cash and cash equivalents at the end of the period reached ¥26,537,261,731.46, up from ¥18,637,090,202.89[25]. Shareholder Information - The company reported a total of 277,906 common shareholders at the end of the reporting period[10]. - The top shareholder, Tongwei Group Co., Ltd., holds 45.2% of the shares, amounting to 2,036,534,487 shares[11]. - The company has not indicated any significant changes in shareholder relationships or actions among the top shareholders during the reporting period[12]. Financial Expenses - The company reported a significant increase in financial expenses, totaling CNY 670,923,166.37, up 142.19% year-on-year due to expanded financing[9]. - The company reported a significant increase in financial expenses, with interest expenses rising to CNY 711,061,068.60 in Q1 2025 from CNY 397,561,256.20 in Q1 2024[18]. Inventory and Compensation - The company's inventory rose to RMB 15,455,394,417.54, compared to RMB 12,633,286,216.02, marking an increase of around 22.5%[14]. - The company reported a decrease in employee compensation payable to RMB 1,379,441,509.40 from RMB 2,025,362,738.36, a reduction of about 31.9%[16]. Other Financial Activities - The net cash inflow from financing activities amounted to ¥13,953,767,691.38, compared to ¥15,732,110,251.60 in the previous period[25]. - Cash received from borrowings totaled ¥11,017,164,952.98, while cash outflow for debt repayment was ¥2,523,441,388.36[25]. - The company distributed dividends and interest payments amounting to ¥209,600,227.07[25]. - The impact of exchange rate changes on cash and cash equivalents was a decrease of ¥11,194,137.46[25]. - The cash outflow from financing activities totaled ¥3,806,468,519.83, compared to ¥2,484,207,375.12 in the previous period[25]. - The cash inflow from other financing activities was ¥3,596,722,991.56[25]. - The initial cash and cash equivalents balance was ¥13,957,909,757.22[25]. Industry Impact - The company attributed the decline in revenue and profit to a significant drop in prices across the photovoltaic industry chain compared to the previous year[8]. Accounting Standards - The company will not apply new accounting standards starting from 2025[25].