CSEC,China Shenhua(01088)2023-04-28 14:17Financial Performance - The company's revenue for Q1 2023 reached RMB 87,042 million, representing a 3.7% increase compared to RMB 83,902 million in the same period last year[3]. - Net profit attributable to the company's owners for Q1 2023 was RMB 20,677 million, up 4.3% from RMB 19,796 million in Q1 2022[5]. - Operating cash inflow for the period was RMB 29,203 million, reflecting a 2.7% increase from RMB 28,436 million in the previous year[3]. - Revenue for Q1 2023 was RMB 68,925 million, reflecting a 1.6% increase from RMB 67,854 million in Q1 2022[15]. - The gross profit for Q1 2023 was RMB 29,286 million, slightly down from RMB 29,701 million in Q1 2022, indicating a decrease of 1.4%[24]. - The net profit for Q1 2023 was RMB 23,586 million, a marginal increase from RMB 23,544 million in Q1 2022, representing a growth of 0.2%[25]. - The company reported a basic earnings per share of RMB 1.041 for Q1 2023, up from RMB 0.998 in Q1 2022, indicating an increase of 4.3%[25]. Assets and Liabilities - Total assets as of March 31, 2023, amounted to RMB 647,462 million, a 3.5% increase from RMB 625,178 million at the end of the previous year[4]. - The company's net assets attributable to owners increased by 5.4% to RMB 418,367 million from RMB 396,937 million at the end of the previous year[4]. - As of March 31, 2023, the company's cash and cash equivalents increased by 11.9% to RMB 147,054 million compared to RMB 131,458 million at the end of 2022, attributed to an increase in specialized account balances[7]. - The company's total assets as of March 31, 2023, were RMB 646,462 million, compared to RMB 646,390 million at the end of 2022, showing a slight increase[26]. - The company's net assets rose to RMB 487,033 million as of March 31, 2023, compared to RMB 462,796 million at the end of 2022, reflecting a growth of 5.2%[27]. Operating Costs and Expenses - Operating costs for Q1 2023 were RMB 57,756 million, a 6.6% increase from RMB 54,201 million in Q1 2022, primarily due to increased maintenance and labor costs[6]. - General and administrative expenses rose by 10.7% to RMB 2,132 million compared to RMB 1,926 million in the same period last year[6]. - The unit production cost of self-produced coal increased by 2.0% to RMB 144.4 per ton in Q1 2023 from RMB 141.5 per ton in Q1 2022[17]. Cash Flow - The net cash inflow from operating activities for the first quarter of 2023 was RMB 29,203 million, reflecting a 2.7% increase from RMB 28,436 million in the same period of 2022, driven by revenue growth[7]. - Operating cash flow for the three months ended March 31, 2023, was RMB 33,958 million, a decrease of 3.8% from RMB 35,294 million in the same period of 2022[28]. - Net cash outflow from investing activities was RMB 11,140 million, a decrease from RMB 12,386 million in the previous year[28]. - Cash and cash equivalents increased by RMB 15,620 million, compared to an increase of RMB 13,581 million in the same period last year[28]. Production and Sales - Coal production volume for Q1 2023 was 80.1 million tons, a decrease of 0.9% compared to 80.8 million tons in Q1 2022[11]. - Coal sales volume increased by 1.8% to 107.6 million tons in Q1 2023 from 105.7 million tons in Q1 2022[12]. - The total sales revenue from self-produced coal was RMB 45,444 million, with a gross profit margin of 53.8% in Q1 2023[16]. - The sales volume of self-produced coal and purchased coal was 102.1 million tons, representing 94.9% of total sales in Q1 2023[13]. - The average selling price of coal (excluding tax) decreased by 0.5% to RMB 621 per ton in Q1 2023 from RMB 624 per ton in Q1 2022[12]. - The total electricity generation rose by 10.6% to 51.71 billion kWh in Q1 2023, compared to 46.75 billion kWh in Q1 2022[11]. - The average electricity selling price in Q1 2023 was RMB 420 per MWh, up 2.2% from RMB 411 per MWh in Q1 2022[18]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 183,250, with 181,353 being A-share shareholders[8]. - The largest shareholder, State Energy Investment Group Co., Ltd., holds 69.52% of the shares, totaling 13,812,709,196 shares[9]. Segment Performance - The railway segment's gross profit decreased by 20.1% year-on-year, primarily due to increased repair and maintenance costs[22]. - The port segment's gross profit fell by 13.2% year-on-year, attributed to a decrease in loading volume and rising costs[22]. - The shipping segment's gross profit dropped by 86.8% year-on-year, mainly due to lower average shipping prices[22]. - The coal chemical segment's gross profit decreased by 90.5% year-on-year, driven by a decline in average selling prices of polyolefin products[22].