CSG Energy(003035)2023-04-21 16:00Financial Performance - The company's operating revenue for Q1 2023 was ¥547,842,273.41, a decrease of 5.35% compared to the same period last year[5] - Net profit attributable to shareholders was ¥82,001,000.64, down 8.60% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥78,475,366.52, reflecting a decline of 9.09%[5] - The net cash flow from operating activities was ¥31,036,402.76, a significant drop of 74.43% compared to the previous year[5] - Operating income for Q1 2023 was CNY 97,021,212.91, a decrease of 54.11% compared to CNY 2,114,433.65 in Q1 2022[12] - The net profit for the first quarter of 2023 was CNY 88,987,076.56, a decrease of 4.3% compared to CNY 93,390,607.25 in the same period last year[23] - The total profit for the first quarter was CNY 109,324,318.72, up 4.0% from CNY 105,910,687.93 year-over-year[23] - Operating profit increased to CNY 108,358,419.03, compared to CNY 103,800,935.15 in the previous year, reflecting a growth of 4.9%[23] - The total comprehensive income attributable to the parent company was CNY 82,001,000.64, down from CNY 89,712,934.53, a decrease of 8.0%[24] Revenue Segments - The industrial energy-saving segment achieved revenue of ¥268,512,000, representing a year-on-year growth of approximately 20.82%[6] - The building energy-saving segment reported revenue of ¥176,669,100, with a year-on-year increase of about 25.35%[6] - The biomass comprehensive utilization segment's revenue was ¥69,978,500, down approximately 52.70% due to rising biomass fuel prices and delayed renewable energy subsidies[6] Assets and Liabilities - Total assets at the end of Q1 2023 were ¥15,821,444,330.18, an increase of 2.66% from the end of the previous year[5] - Current liabilities totaled CNY 2,979,433,867.67, compared to CNY 2,912,612,896.85, marking an increase of 2.29%[20] - Long-term borrowings rose to CNY 4,155,522,150.39, up from CNY 3,905,383,971.70, indicating an increase of 6.39%[20] - Total current assets as of March 31, 2023, were CNY 494,461,643.24, down from CNY 788,992,393.88 at the beginning of the year[18] - The balance of accounts receivable increased to CNY 2,449,205,331.44 from CNY 2,304,705,382.14, indicating a growth in receivables[18] Cash Flow and Investments - The net cash flow from financing activities decreased by 36.43% to CNY 241,822,854.06, primarily due to improved fund concentration and efficiency[13] - Investment cash inflow increased by 191.03% to CNY 1,452,250.00, while investment cash outflow rose by 42.01% to CNY 568,842,257.46[13] - Cash flow from operating activities generated a net amount of CNY 31,036,402.76, down 74.4% from CNY 121,356,568.00 in the same quarter last year[26] - Cash and cash equivalents at the end of the period totaled CNY 488,840,000.43, a decrease from CNY 924,101,044.02 at the end of the previous year[27] Shareholder Information - The top shareholder, China Southern Power Grid Co., Ltd., holds 40.39% of the shares, amounting to CNY 1,530,000,000.00[15] Tax and Expenses - The company’s income tax expense rose by 62.44% to CNY 20,337,242.16, attributed to steady profit growth in the parent company and key subsidiaries[12] - Research and development expenses were CNY 603,962.47, a decrease from CNY 720,740.81, reflecting a reduction of 16.19%[22] Future Plans - The company plans to enhance its main business development and explore transformation into a load integrator while improving risk management[6] - The company plans to continue expanding its photovoltaic energy projects, which have seen increased investment compared to the previous year[13] Other Information - The company did not report any new product launches or significant market expansion strategies during this quarter[28] - The basic and diluted earnings per share remained stable at CNY 0.02[24] - The company recorded a credit impairment loss of CNY -14,520,131.87, slightly improved from CNY -14,735,089.73 in the previous year[23] - Total operating costs decreased to CNY 451,707,013.95, down 6.95% from CNY 485,494,236.30 in the previous year[22] - The company’s investment income for the quarter was CNY 21,380,375.34, down from CNY 23,182,503.58, reflecting a decrease of 7.77%[22] - The cash and cash equivalents increased to CNY 178,996,350.65 from CNY 159,132,807.17, a growth of 12.51%[20]