Tongyu Heavy(300185)2024-04-25 16:03Financial Performance - The company's net profit attributable to shareholders decreased significantly due to intensified price competition in the wind power market, with a notable decline in revenue from main products like wind power spindles and castings [11]. - Total operating revenue for the current period was ¥1,396,565,080.60, a decrease of 2.14% compared to ¥1,427,147,924.89 in the same period last year [54]. - Net profit attributable to shareholders of the listed company was ¥10,496,142.25, representing a significant decline of 87.80% from ¥86,030,255.89 year-on-year [54]. - Net profit excluding non-recurring gains and losses was ¥5,188,111.67, down 93.64% from ¥81,568,703.71 in the previous year [54]. - The total profit for the current period was ¥16,204,626.04, down from ¥107,179,748.53 in the same period last year [46]. - Basic and diluted earnings per share were both ¥0.0027, a decrease of 87.78% from ¥0.0221 in the previous year [54]. Cash Flow and Liquidity - The total cash inflow from operating activities was approximately CNY 1,175 million, compared to CNY 661 million in the previous year, marking an increase of about 78% [23]. - The net cash flow from operating activities was CNY 42 million, up from CNY 34 million year-on-year, reflecting a growth of approximately 23% [23]. - The net cash flow generated from operating activities increased by 23.71% to ¥42,019,362.93, compared to ¥33,965,822.61 in the same period last year [54]. - Cash flow from financing activities decreased by 5.90% to ¥102,410,303.96, mainly due to a reduction in borrowings from financial institutions [29]. - The company reported a cash and cash equivalents balance of CNY 868 million at the end of the period, compared to CNY 867 million at the end of the previous year [21]. - Cash and cash equivalents at the end of the period were CNY 1,430,389,351.16, down from CNY 1,454,362,326.53, reflecting a decrease of about 1.6% [41]. Assets and Liabilities - Total liabilities decreased by 42.18% to ¥95,475,316.89, primarily due to a reduction in contract liabilities from customer prepayments [29]. - The total current assets decreased from CNY 8,214,046,304.00 to CNY 7,769,284,504.46, a reduction of approximately 5.4% [41]. - Total liabilities decreased from CNY 8,754,405,788.48 to CNY 8,355,638,479.05, a reduction of approximately 4.5% [43]. - The company's total assets decreased from CNY 15,789,725,548.12 to CNY 15,402,487,409.14, a decline of about 2.4% [43]. - The company's short-term borrowings decreased from CNY 3,774,705,168.80 to CNY 3,636,611,318.02, a reduction of approximately 3.7% [43]. - The total non-current assets increased from CNY 7,575,679,244.12 to CNY 7,633,202,904.68, an increase of approximately 0.8% [43]. Operational Changes - The company established seven new divisions to enhance its marketing system, including Aerospace, Steel Casting, Overseas, New Energy, Forging, Marine Engineering, and Nuclear Equipment divisions [39]. - R&D expenses decreased by 39.53% to ¥28,415,496.55 from ¥46,988,509.06 year-on-year, mainly due to reduced investment in new product development [29]. - Other income rose by 105.73% to ¥5,774,125.78, primarily due to increased VAT input tax deductions in advanced manufacturing [29]. - The company experienced a 54.04% decline in non-operating income to ¥1,342,566.62, primarily due to a decrease in compensation received during the period [29]. - Asset impairment losses surged by 443.97% to -¥6,357,882.43, attributed to increased provisions for bad debts related to customer warranty claims [29]. - Net cash flow from investing activities decreased by 111.70% to -¥7,871,668.15, mainly due to increased withdrawals from structured deposits in the previous period [29]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 132,843, with a total shareholding ratio of 20.33% held by Zhuhai Port Holdings Group Co., Ltd. [30]. - The company reported an increase in undistributed profits from CNY 1,246,042,873.76 to CNY 1,256,539,016.01, an increase of about 0.9% [43]. - Equity attributable to shareholders of the listed company was ¥6,995,415,507.93, a slight increase of 0.16% from ¥6,984,542,658.39 year-on-year [54].