Weichai Power(02338)2024-04-29 10:44Financial Performance - Total revenue for Q1 2024 reached CNY 56.38 billion, an increase of 5.51% compared to CNY 53.43 billion in the same period last year[3] - Net profit attributable to shareholders was CNY 2.60 billion, representing a 40.07% increase from CNY 1.86 billion year-on-year[3] - Basic earnings per share rose to CNY 0.30, up 40.08% from CNY 0.21 in the same quarter last year[3] - Operating profit for the quarter was CNY 411.10 million, reflecting a 59.72% increase from CNY 257.39 million in the previous year[6] - The company reported a total comprehensive income of RMB 3.93 billion, compared to RMB 2.86 billion in Q1 2023, marking a 37.3% increase[13] - The company achieved a net profit margin of approximately 5.9%, compared to 4.2% in Q1 2023[13] Cash Flow - Net cash flow from operating activities improved significantly to CNY 1.61 billion, a 441.76% increase from a negative CNY 471.62 million in the previous year[3] - The cash inflow from operating activities for Q1 2024 was RMB 50,532,315,739.26, an increase of 20.5% compared to RMB 41,965,267,489.26 in the same period last year[15] - The net cash flow from operating activities was RMB 1,611,808,374.28, a significant recovery from a negative RMB 471,621,705.85 in Q1 2023[15] - The cash inflow from investment activities totaled RMB 7,720,541,439.98, down 23.5% from RMB 10,085,158,929.72 in the previous year[15] - The cash outflow from financing activities was RMB 3,087,583,738.49, an increase of 15.3% compared to RMB 2,677,633,444.60 in the same period last year[16] - The net cash flow from financing activities was negative at RMB -2,511,919,069.60, worsening from RMB -666,404,399.07 in Q1 2023[16] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 338.75 billion, a 1.35% increase from CNY 334.25 billion at the end of the previous year[3] - Total liabilities reached CNY 222.07 billion, slightly up from CNY 221.56 billion, indicating a marginal increase of 0.23%[11] - Current assets increased to CNY 202.79 billion from CNY 197.93 billion, a growth of approximately 4.4%[10] - The company's cash and cash equivalents decreased to CNY 88.03 billion from CNY 92.86 billion, a decline of about 5.9%[10] - The total equity attributable to shareholders rose to CNY 82.83 billion from CNY 79.34 billion, an increase of approximately 4.8%[11] Shareholder Information - The total number of common shareholders at the end of the reporting period is 240,057[7] - Weichai Holding Group Co., Ltd. holds 22.22% of shares, amounting to 1,938,891,045 shares[7] - Hong Kong Central Clearing Limited holds 16.30% of shares, totaling 1,422,550,620 shares, with 1,345,905,600 shares subject to trading restrictions[7] - Shandong Enterprise Management Co., Ltd. holds 3.40% of shares, equating to 296,625,408 shares, all of which are subject to trading restrictions[7] - The top ten shareholders collectively hold significant stakes, with the largest shareholder holding over 22%[8] Expenses - Total operating costs for the quarter were RMB 52.22 billion, an increase of 21.5% from RMB 43.91 billion in Q1 2023[12] - Research and development expenses rose to RMB 2.09 billion, a 14.1% increase from RMB 1.83 billion in the previous year[12] - Tax expenses for the quarter amounted to RMB 832 million, compared to RMB 405 million in the previous year, reflecting a significant increase[13] - The cash paid for taxes was RMB 1,028,521,281.35, an increase from RMB 853,007,872.06 in the same period last year, indicating a growth of 20.6%[15] Other Income - Other income surged by 403.26% to CNY 26.29 million, primarily due to increased government subsidies and VAT reductions[6] - The company's other comprehensive income rose to CNY 2.01 billion from CNY 1.17 billion, an increase of approximately 71.1%[11] - Other comprehensive income after tax was RMB 585 million, slightly down from RMB 616 million in the same period last year[13]