WTECL(600157)2024-04-25 09:18Financial Performance - The company's operating revenue for Q1 2024 was CNY 7,321,380,690.17, representing a year-on-year increase of 3.58%[4] - The net profit attributable to shareholders for Q1 2024 was CNY 466,615,132.37, reflecting an increase of 11.41% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 470,524,212.58, up by 12.04% year-on-year[4] - The basic and diluted earnings per share for Q1 2024 were both CNY 0.0210, an increase of 11.11% year-on-year[4] - The total comprehensive income for Q1 2024 was ¥433,038,712.49, compared to ¥407,810,566.85 in Q1 2023, indicating a growth of 6.2%[19] - Operating profit for Q1 2024 was ¥877,832,760.42, up 39.4% from ¥629,801,462.19 in Q1 2023[18] - Net profit attributable to shareholders of the parent company for Q1 2024 was ¥466,615,132.37, compared to ¥418,808,840.35 in Q1 2023, reflecting a growth of 11.4%[19] Cash Flow and Assets - The net cash flow from operating activities for Q1 2024 was CNY 1,115,180,567.17, showing a growth of 1.99% compared to the previous year[4] - The company's cash and cash equivalents increased to approximately ¥1.96 billion from ¥1.79 billion, reflecting a growth of about 9.5%[14] - The total current liabilities decreased to approximately ¥19.91 billion from ¥21.66 billion, a reduction of about 8.1%[16] - Long-term borrowings rose to approximately ¥16.16 billion, up from ¥15.39 billion, indicating an increase of about 5%[16] - The ending balance of cash and cash equivalents was 1,478,160,061.20 CNY, up from 1,159,629,152.83 CNY year-over-year[21] - The net increase in cash and cash equivalents was 311,541,234.91 CNY, contrasting with a decrease of -842,562,926.63 CNY in the previous year[21] Production and Sales - In Q1 2024, the company achieved a raw coal output of 2.3952 million tons, a year-on-year increase of 0.49%, and sales of 2.3742 million tons, a decrease of 1.79%[11] - The company’s power generation reached 9.999 billion kWh in Q1 2024, an increase of 14.15% year-on-year, with electricity sales of 9.470 billion kWh, up 14.23% year-on-year[11] Costs and Expenses - The company reported a decrease in tax expenses to ¥197,071,022.93 in Q1 2024 from ¥240,831,322.50 in Q1 2023, a decline of 18.2%[18] - Research and development expenses decreased to ¥17,468,620.59 in Q1 2024 from ¥25,481,505.85 in Q1 2023, a reduction of 31.5%[18] - Total operating costs for Q1 2024 were ¥6,443,705,663.06, an increase of 0.74% from ¥6,396,421,636.07 in Q1 2023[18] Strategic Developments - The Haizetang coal mine project has made significant progress, with the main shafts successfully revealing the main coal seam ahead of schedule, marking a step closer to the target of coal production by Q3 2026[11] - The company implemented a strategy of optimizing product structure and market layout, which enhanced marketing efficiency and profitability[12] - The company is advancing its energy storage projects, with a 3,000 tons/year high-purity vanadium pentoxide production line and a 300MW/year vanadium flow battery production line expected to be operational by Q4 2024[13] - The company is establishing a full industry chain sales network for its energy storage products, aiming to enhance market penetration and strategic partnerships[13] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 423,753[6] - The equity attributable to shareholders at the end of Q1 2024 was CNY 46,736,360,910.99, which is an increase of 0.75% compared to the end of the previous year[4]