2017-04-21 16:00Financial Performance - The company achieved new orders of RMB 21.89 billion in Q1 2017, a decrease of 30.79% year-on-year[5]. - Operating revenue for the period was RMB 13.03 billion, down 15.67% from the same period last year[5]. - Net profit attributable to shareholders was RMB 485.66 million, a decrease of 3.81% year-on-year[5]. - The diluted earnings per share were RMB 0.0362, down 5.73% from the previous year[5]. - The company's net profit after deducting non-recurring gains and losses was RMB 451.80 million, an increase of 1.42% year-on-year[5]. - Net profit for Q1 2017 was CNY 802,795, a decline of 13.6% from CNY 929,887 in Q1 2016[29]. - The basic earnings per share for Q1 2017 was CNY 0.0104, a decline of 38.66% compared to CNY 0.0169 in the previous year[33]. - The total comprehensive income for Q1 2017 was CNY 144,797 thousand, compared to CNY 161,771 thousand in the same period last year, reflecting a decrease of 10.48%[33]. - The total comprehensive income attributable to the parent company was CNY 545,102 thousand, an increase from CNY 357,840 thousand in the same period last year[31]. Assets and Liabilities - Total assets at the end of the reporting period were RMB 176.35 billion, an increase of 0.41% compared to the end of the previous year[5]. - The company's total assets as of March 31, 2017, amounted to CNY 94,076,883, compared to CNY 93,290,270 at the end of the previous year[27]. - Total liabilities were CNY 58,988,296, an increase of 1.1% from CNY 58,346,480 year-over-year[27]. - The company's current liabilities due within one year increased by 153% to CNY 2,664,000, primarily due to the issuance of CNY 1.6 billion corporate bonds maturing in February 2018[14]. - The company's short-term borrowings increased to CNY 2,216,045 from CNY 2,146,310[21]. Cash Flow - The cash flow from operating activities was negative RMB 7.30 billion, compared to negative RMB 3.85 billion in the same period last year[5]. - The cash flow from operating activities showed a net outflow of CNY 7,299,603 thousand, worsening from a net outflow of CNY 3,852,297 thousand in Q1 2016[36]. - The cash flow from investing activities generated a net inflow of CNY 4,280,760 thousand, significantly improving from a net inflow of CNY 293,500 thousand in the previous year[36]. - The cash flow from financing activities resulted in a net inflow of CNY 99,284 thousand, compared to a net outflow of CNY 3,842,298 thousand in Q1 2016[37]. - The ending cash and cash equivalents balance was $22,735,259 thousand, down from $24,653,658 thousand at the beginning of the period[40]. - Total cash and cash equivalents decreased by $1,918,399 thousand during the period[40]. Inventory and Receivables - The company's inventory increased to CNY 29,400,500 from CNY 24,883,259, indicating a rise in stock levels[20]. - Accounts receivable increased to CNY 14,951,438, up from CNY 14,427,261, indicating a growth of 3.6%[26]. - Inventory rose to CNY 1,934,618, a significant increase of 39.2% compared to CNY 1,388,663 in the previous year[26]. Financial Expenses - Financial expenses rose by 52% to CNY 125,131, attributed to increased interest expenses from higher borrowings[15]. - The financial expenses increased to CNY 29,427 thousand from CNY 21,461 thousand, marking a rise of 37.19% compared to the previous year[32]. - The company reported a decrease in financial expenses to CNY 125,131 from CNY 82,543, reflecting an increase of 51.5% year-over-year[29]. Orders and Backlog - The company had a total of RMB 235.12 billion in hand orders, a decrease of 17.48% year-on-year, with renewable energy and environmental protection equipment accounting for 11.27%[7]. - The company had a backlog of wind power equipment orders worth RMB 12.86 billion, an increase of 17.77% year-on-year[7]. Asset Management - The company reported a decrease in asset impairment losses by 44% to CNY 162,389, due to the recovery of some accounts receivable[15]. - The company plans to submit a proposal for issuing shares to purchase assets and raise matching funds to the shareholders' meeting on April 28, 2017[17]. - The company is addressing inquiries from the Shanghai Stock Exchange regarding its asset purchase and fundraising plan[17].