CRRC(01766)2024-04-29 10:59Financial Performance - The company's operating revenue for Q1 2024 was RMB 32,182,793 thousand, a decrease of 0.60% compared to the same period last year[3]. - Net profit attributable to shareholders was RMB 1,008,287 thousand, an increase of 63.86% year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 667,902 thousand, up 228.08% from the previous year[3]. - The company reported a net profit of CNY 1,519,245 for Q1 2024, compared to CNY 1,045,142 in Q1 2023, reflecting a growth of 45.4%[23]. - The total comprehensive income for Q1 2024 was RMB 1,530,878 thousand, compared to RMB 1,072,572 thousand in Q1 2023, marking an increase of about 42.7%[25]. - Basic earnings per share for Q1 2024 were RMB 0.04, doubling from RMB 0.02 in Q1 2023[25]. - Operating profit for Q1 2024 increased to CNY 1,908,571, up 55.5% from CNY 1,225,827 in Q1 2023[23]. Cash Flow and Assets - The cash flow from operating activities was RMB 14,487,790 thousand, indicating a significant improvement in cash inflow compared to the previous year[3]. - Cash and cash equivalents at the end of Q1 2024 totaled RMB 56,781,149 thousand, up from RMB 40,608,487 thousand at the end of Q1 2023, reflecting an increase of approximately 39.7%[28]. - The company generated a net cash flow from operating activities of 59,113 million RMB in Q1 2024, down from 417,303 million RMB in Q1 2023[32]. - Cash and cash equivalents as of March 31, 2024, were CNY 67,551,716, up 20.8% from CNY 55,929,833 on December 31, 2023[20]. - Total assets as of March 31, 2024, amounted to RMB 170,564,904 thousand, compared to RMB 160,635,286 thousand at the end of 2023, indicating a growth of about 6.1%[29]. - The company reported cash inflows from investment activities of RMB 4,422,697 thousand in Q1 2024, down from RMB 7,970,562 thousand in Q1 2023[27]. Revenue Breakdown - The railway equipment business generated RMB 13,316,952 thousand in revenue, a 54.11% increase year-on-year, driven by higher sales of multiple train types[8]. - The urban rail and infrastructure business saw a revenue decline of 24.33%, totaling RMB 5,531,445 thousand, primarily due to reduced income from metro vehicles[8]. - New industry revenue decreased by 19.32% to RMB 12,182,861 thousand, mainly due to lower sales of wind power components and energy storage systems[9]. - The company signed new contracts worth approximately RMB 40.8 billion in Q1 2024, including about RMB 6.3 billion from international business[9]. Shareholder Information - China CNR Group holds 14,587,578,250 shares, representing 50.83% of total shares outstanding[11]. - HKSCC NOMINEES LIMITED holds 4,358,652,830 shares, accounting for 15.19% of total shares outstanding[11]. - The total number of shareholders for A-shares is 563,440, while H-shares have 2,152 registered shareholders[15]. - The top ten shareholders include several asset management plans, each holding 234,982,900 shares, which is 0.82% of total shares outstanding[14]. - The total shares held by the top ten unrestricted shareholders amount to 20,000,000,000 shares[14]. Management Changes - The company appointed Ma Yunshuang as the president on February 22, 2024, with a term until the end of the current board's tenure[17]. - The company also appointed Lin Cunzeng, Wang Fengxian, and Liu Ke'an as vice presidents on the same date[17]. - Ma Yunshuang was added to the board's strategic and nomination committees on March 19, 2024[18]. Expenses and Liabilities - Research and development expenses for Q1 2024 were CNY 2,440,065, an increase of 17.5% compared to CNY 2,077,306 in Q1 2023[23]. - Total liabilities decreased to CNY 273,531,027 from CNY 275,268,420 as of December 31, 2023[22]. - Total liabilities increased to 64,499 million RMB as of March 31, 2024, up from 54,578 million RMB at the end of 2023, reflecting a rise of approximately 18%[30]. - The total liabilities to equity ratio increased, indicating a higher leverage position as total liabilities rose faster than equity[30]. - The company reported a decrease in management expenses to 51,379 million RMB in Q1 2024 from 45,308 million RMB in Q1 2023, indicating improved cost management[31].