GED(SZ:000539)2016-04-29 16:00Financial Performance - The company's operating revenue for Q1 2016 was ¥4,405,938,708, a decrease of 27.39% compared to ¥6,068,031,708 in the same period last year[8] - Net profit attributable to shareholders was ¥110,019,230, down 85.49% from ¥758,001,796 year-on-year[8] - The net cash flow from operating activities was ¥2,036,376,774, reflecting a decline of 23.22% from ¥2,652,328,931 in the previous year[8] - Basic and diluted earnings per share were both ¥0.021, a decrease of 85.42% compared to ¥0.144 in the same period last year[8] - The weighted average return on equity was 0.46%, down from 3.49% year-on-year, indicating a significant decline in profitability[8] - Total assets at the end of the reporting period were ¥71,469,160,112, a slight decrease of 0.63% from ¥71,919,934,143 at the end of the previous year[8] - The net assets attributable to shareholders increased slightly by 0.10% to ¥23,778,507,630 from ¥23,754,596,981 at the end of the previous year[8] Market Conditions - The company experienced a significant decline in profit due to weak electricity demand, intensified market competition, and a reduction in on-grid electricity prices effective January 1, 2016[16] - The company adjusted the on-grid electricity price for its coal-fired power plants in accordance with the Guangdong Provincial Development and Reform Commission's notification[18] Corporate Actions - The company is currently working on responding to feedback from the China Securities Regulatory Commission regarding its non-public stock issuance application, with a deadline extension for submission until May 28, 2016[17] - The company plans to establish a project company in Zhaoqing Dinghu District with a registered capital of RMB 10 million, contributing RMB 9 million for a 90% stake[18] - The company has committed to not reducing its shareholding in Guangdong Power Development for the next 12 months to maintain market stability[20] Investments - The company reported a total investment of RMB 235.84 million in Sheneng Co., holding 1.22% of its shares[21] - The company holds 12,600,000 shares of Shenzhen Energy, representing 0.32% of its total shares, with an initial investment of RMB 15.89 million[21] Compliance and Governance - The company reported no non-recurring gains or losses that would be classified as regular income during the reporting period[10] - The company has no derivative investments during the reporting period[23] - There were no violations regarding external guarantees during the reporting period[25] - The company reported no non-operating fund occupation by controlling shareholders or related parties during the reporting period[26] Strategic Positioning - The company is the only listed platform for the integration of Guangdong Electric Group's domestic power generation assets[20] - The company is expected to continue its focus on project development and asset acquisition in the domestic power sector[20]