长源电力(000966) - 2014 Q1 - 季度财报

Financial Performance - Operating revenue for Q1 2014 was CNY 1,633,091,373.68, a decrease of 13.54% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 170,715,913.00, representing a 30.7% increase year-over-year[4] - Net profit excluding non-recurring gains and losses was CNY 167,111,642.05, up 30.2% from the previous year[4] - The net profit attributable to the parent company for Q1 2014 was CNY 170,715,913, an increase of 30.7% compared to the previous period, primarily due to a decrease in the benchmark coal price and reduced financial expenses[11] - Investment income for Q1 2014 was -CNY 6,664,850.20, a decrease of 77.65% from the previous period, mainly due to losses from associated companies[11] Cash Flow and Assets - The net cash flow from operating activities increased by 5.47% to CNY 696,082,464.05 compared to the same period last year[4] - Total assets at the end of the reporting period were CNY 10,996,089,728.26, a decrease of 1.49% from the end of the previous year[4] - The net assets attributable to shareholders increased by 10.24% to CNY 1,838,198,537.47 compared to the end of the previous year[4] - Accounts receivable decreased by 31.92% to CNY 587,654,300.53 due to reduced receivables from electricity sales[9] - Prepayments increased by 138.16% to CNY 397,772,100.89, primarily due to increased advance payments for fuel procurement[9] - The total amount of guarantees provided by the company as of the report date was CNY 453.3 million, accounting for 27.18% of the latest audited net assets[15] Shareholder Information - The number of shareholders at the end of the reporting period was 45,469[5] - The weighted average return on equity was 9.74%, an increase of 0.67% compared to the previous year[4] Operational Highlights - Operating cash inflow from other business activities in Q1 2014 was CNY 71,482,019.71, an increase of 38.29% compared to the previous period, attributed to an increase in receivables[11] - The company completed a total electricity generation of 4.075 billion kWh and sold 3.844 billion kWh during the reporting period, with significant uncertainty expected in Q2 due to seasonal water supply variations[12] Future Projects - The company plans to implement a desulfurization and efficiency improvement project for a 330,000 kW thermal power unit, with a contract signed with Beijing Guodian Longyuan Environmental Engineering Co., Ltd.[13] - The company invested CNY 11.5 million to acquire preliminary results of 10 wind power projects from Guodian Hubei Electric Power Co., Ltd., enhancing its renewable energy capacity[14] - A desulfurization and efficiency improvement project for two 300,000 kW thermal power units is planned, with a budget of CNY 47.2 million, pending contract signing[15]