Titan Wind(002531)2024-04-26 10:17Financial Performance - The company's operating revenue for Q1 2024 was ¥1,053,701,807.45, a decrease of 22.67% compared to ¥1,362,687,634.25 in the same period last year[3] - Net profit attributable to shareholders for Q1 2024 was ¥148,375,883.30, down 24.83% from ¥197,397,670.75 in the previous year[3] - Total operating revenue for Q1 2024 was CNY 1,053,701,807.45, a decrease of 22.6% compared to CNY 1,362,687,634.25 in the same period last year[14] - In Q1 2024, the net profit of TianShun Wind Power was approximately ¥148.77 million, a decrease of 25.4% compared to ¥199.40 million in Q1 2023[15] - The total comprehensive income attributable to the parent company was ¥150.20 million, down from ¥198.90 million in Q1 2023[16] - The basic earnings per share decreased to ¥0.0826 from ¥0.1097 in the same quarter last year[16] Cash Flow and Assets - The net cash flow from operating activities increased significantly to ¥499,641,017.42, a rise of 4,520.23% compared to ¥10,814,207.23 in the same period last year[3] - Cash and cash equivalents at the end of the period were ¥513.89 million, down from ¥1.03 billion at the end of Q1 2023[18] - The company's cash and cash equivalents decreased by 31.39% since the beginning of the year, mainly due to a reduction in cash and cash equivalents during the reporting period[6] - As of March 31, 2024, the company's cash and cash equivalents decreased to ¥564,436,165.06 from ¥822,635,786.55 at the beginning of the period, representing a decline of approximately 31.4%[12] - Total assets at the end of Q1 2024 reached ¥25,002,788,779.36, reflecting a 2.85% increase from ¥24,310,563,553.70 at the end of the previous year[3] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 87,586, with the top ten shareholders holding significant stakes[7] - The top ten shareholders hold a total of 1,000,000,000 shares, representing approximately 55.5% of the total share capital[9] Liabilities and Equity - Total liabilities reached CNY 15,904,238,562.76, an increase from CNY 15,377,214,294.66, marking a growth of 3.4%[14] - The company's equity attributable to shareholders increased to ¥9,035,356,022.76, up 1.69% from ¥8,885,545,062.01 at the end of the previous year[3] - The equity attributable to shareholders of the parent company increased to CNY 9,035,356,022.76 from CNY 8,885,545,062.01, a rise of 1.7%[14] Operational Highlights - The company reported a 213.43% increase in other income compared to the same period last year, primarily due to increased government subsidies[6] - The company experienced a 78.61% decrease in investment income compared to the previous year, attributed to a decline in investment income from joint ventures[6] - The company plans to enhance its international presence in wind power and offshore engineering, focusing on international product certification and strategic customer development[11] - The company has received conditional approval for its GDR project from the Swiss Exchange, pending further regulatory approvals[11] - The company is currently assessing the impact of its subsidiary's liquidation on overall operations, with no major effects anticipated[11] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[15] Research and Development - Research and development expenses rose significantly to ¥11.11 million, an increase of 42.9% from ¥7.81 million in Q1 2023[15] Future Outlook - Future outlook includes potential growth in renewable energy sectors[19] - The company is focused on wind energy solutions and aims to expand its market presence[19] - There are plans for market expansion in both domestic and international regions[19] - The company is exploring strategic partnerships and acquisitions to bolster growth[19] - The board of directors emphasizes the importance of sustainable practices in operations[19] - The company aims to provide detailed financial guidance in upcoming reports[19]