COSL(601808)2024-04-25 10:07Financial Performance - The company's operating revenue for Q1 2024 reached RMB 10,148 million, representing a 20.0% increase compared to the same period last year[4] - The net profit attributable to shareholders of the listed company was RMB 635.5 million, an increase of 57.3% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 655.7 million, reflecting a 69.5% increase year-on-year[4] - The basic earnings per share for the period was RMB 0.13, up 62.5% compared to the previous year[4] - Total profit for Q1 2024 was RMB 940.1 million, reflecting a year-on-year growth of 47.8%[15] - Net profit for Q1 2024 amounted to RMB 690.6 million, showing a year-on-year increase of 51.3%[15] - Total revenue for Q1 2024 reached CNY 10,147,976,009, a 19.96% increase from CNY 8,456,256,979 in Q1 2023[24] - Operating profit for Q1 2024 was CNY 1,001,144,665, compared to CNY 659,384,434 in Q1 2023, reflecting a growth of 51.93%[26] - Net profit attributable to shareholders for Q1 2024 was CNY 635,514,312, up from CNY 404,088,646 in Q1 2023, marking a 57.19% increase[26] Assets and Liabilities - The total assets at the end of the reporting period were RMB 82,463.1 million, a decrease of 0.9% from the end of the previous year[6] - The equity attributable to shareholders of the listed company increased to RMB 42,329.0 million, a rise of 1.6% from the previous year[6] - Total assets as of March 31, 2024, were CNY 82,463,076,897, a decrease from CNY 83,245,834,646 at the end of 2023[23] - Current assets totaled CNY 29,216,759,662, down from CNY 30,270,102,514 at the end of 2023[22] - Total liabilities decreased to CNY 39,465,403,138 from CNY 40,989,728,253 at the end of 2023[23] - The company’s total equity increased to CNY 42,997,673,759 from CNY 42,256,106,393 at the end of 2023[23] Cash Flow - The net cash flow from operating activities was a negative RMB 835.0 million, compared to a negative RMB 96.2 million in the same period last year, primarily due to increased cash payments for goods and services[8] - In Q1 2024, the company reported cash inflows from operating activities of CNY 8,590,381,976, an increase from CNY 7,752,592,846 in Q1 2023, representing a growth of approximately 10.7%[28] - The net cash flow from operating activities was negative CNY 834,951,230, compared to a negative CNY 96,217,098 in the same period last year, indicating a significant decline in operational cash generation[28] - Cash inflows from investment activities totaled CNY 3,230,193,901, up from CNY 1,038,468,095 in Q1 2023, marking a substantial increase of about 210.5%[28] - The net cash flow from investment activities was negative CNY 333,915,883, compared to a negative CNY 15,050,075 in Q1 2023, reflecting increased investment outflows[28] - Cash outflows from financing activities amounted to CNY 922,579,343, significantly higher than CNY 288,821,134 in Q1 2023, indicating increased financial obligations[28] - The ending cash and cash equivalents balance was CNY 3,881,974,138, compared to CNY 3,162,511,233 at the end of Q1 2023, representing an increase of approximately 22.7%[28] - The company paid CNY 678,438,681 in debt repayments, a significant increase from CNY 78,135,622 in Q1 2023, indicating a focus on reducing leverage[28] - The total cash inflow from sales of goods and services was CNY 8,562,987,965, compared to CNY 7,728,094,128 in Q1 2023, reflecting a growth of about 10.8%[28] - The company reported a total cash outflow from operating activities of CNY 9,425,333,206, which is an increase from CNY 7,848,809,944 in Q1 2023, indicating rising operational costs[28] Operational Metrics - The number of operational days for drilling services was 4,388 days, a decrease of 1.7% compared to the previous year[19] - The utilization rate for self-elevating drilling platforms was 80.2%, while semi-submersible platforms had a utilization rate of 76.0%[19] - The company operated 172 vessels in its shipping services, with a total of 14,227 operational days, an increase of 3.9% year-on-year[20] - The three-dimensional survey area increased to 6,696 square kilometers, a significant rise of 502.7% year-on-year[19] Strategic Initiatives - The company is actively expanding its global market presence and enhancing its core competitiveness, contributing to the growth in revenue across various segments[8] - The company is focusing on enhancing its technological innovation capabilities and optimizing the development of core technology products[20] - The company aims to strengthen its cost control and core competitiveness through lean management practices[15] - The company expects to reduce carbon emissions by 12,000 tons annually through the operation of 12 LNG-powered guard vessels[20] - The company reported a total non-recurring loss of RMB 20,160,276 for the period, influenced by various factors including asset disposal losses and other operating expenses[7] - Research and development expenses for Q1 2024 were CNY 334,360,621, compared to CNY 235,932,638 in Q1 2023, indicating a 41.73% increase[26] - The company’s gross profit margin improved, with gross profit for Q1 2024 at CNY 891,299,825, compared to CNY 518,409,531 in Q1 2023[26] - The weighted average return on net assets increased by 0.5 percentage points to 1.5%[4]