江苏新能(603693) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 574,350,988.71, a decrease of 13.85% compared to CNY 666,712,636.67 in the same period last year[4] - Net profit attributable to shareholders was CNY 163,685,405.79, down 34.65% from CNY 250,467,682.63 year-on-year[4] - Basic earnings per share were CNY 0.18, a decline of 35.71% from CNY 0.28 in the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses decreased by 34.70% compared to the previous year[4] - Net profit for Q1 2025 was CNY 191,982,075.39, down from CNY 309,173,548.86 in Q1 2024, representing a decrease of approximately 37.8%[17] - The total comprehensive income for Q1 2025 was CNY 191,978,648.49, down from CNY 309,324,529.40 in Q1 2024[18] - Net profit for the first quarter of 2025 was CNY 25,235,444.67, a decline of 51.16% compared to CNY 51,706,482.92 in the first quarter of 2024[26] - Operating profit for Q1 2025 was CNY 23,613,401.37, down 55.16% from CNY 52,617,916.82 in Q1 2024[26] Cash Flow and Liquidity - The net cash flow from operating activities decreased by 49.99%, amounting to CNY 181,362,746.97 compared to CNY 362,670,130.95 in the previous year[4] - Cash flow from operating activities for Q1 2025 was CNY 181,362,746.97, significantly lower than CNY 362,670,130.95 in Q1 2024[21] - The company reported a net cash decrease of CNY 186,302,553.78 in Q1 2025, contrasting with a net increase of CNY 200,654,823.40 in Q1 2024[21] - Cash flow from operating activities in Q1 2025 was negative at CNY -6,512,486.32, an improvement from CNY -8,878,942.00 in Q1 2024[29] - The company's cash and cash equivalents as of March 31, 2025, were approximately 1.58 billion RMB, down from 1.76 billion RMB at the end of 2024[12] - The company's cash and cash equivalents increased to CNY 453,171,781.15 as of March 31, 2025, compared to CNY 441,478,152.99 on December 31, 2024[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 17,669,606,893.58, reflecting a slight increase of 0.26% from CNY 17,623,746,044.27 at the end of the previous year[5] - The company’s total liabilities decreased to approximately 9.55 billion RMB as of March 31, 2025, from 9.72 billion RMB at the end of 2024[14] - The company’s equity attributable to shareholders increased to approximately 6.87 billion RMB as of March 31, 2025, from 6.70 billion RMB at the end of 2024[14] - Total liabilities as of March 31, 2025, were CNY 573,990,655.32, a slight decrease from CNY 577,452,542.74 on December 31, 2024[24] Operational Performance - In Q1 2025, the total power generation of the company was 937 million kWh, a decrease of 15.66% year-on-year[11] - The on-grid electricity for the same period was 897 million kWh, down 15.85% year-on-year[11] - Wind power generation in Q1 2025 was 877 million kWh, a decline of 17.19% year-on-year, with onshore wind at 632 million kWh (down 12.83%) and offshore wind at 245 million kWh (down 26.65%) [11] - The photovoltaic segment saw a generation of 60 million kWh, an increase of 17.65% year-on-year, with on-grid electricity at 44 million kWh, up 12.82%[11] - The biomass project in Huai'an provided 109,400 tons of heating during the reporting period, reflecting a year-on-year increase of 3.50%[11] Costs and Expenses - Total operating costs for Q1 2025 were CNY 344,457,678.42, an increase from CNY 343,193,598.87 in Q1 2024[17] - The company’s tax expenses for Q1 2025 were CNY 44,197,684.74, a decrease from CNY 64,633,389.50 in Q1 2024[17] - Research and development expenses in Q1 2025 were CNY 187,237.58, indicating a focus on innovation despite overall profit decline[26] Government Support - The company received government subsidies amounting to CNY 4,403,000, which are closely related to its normal business operations[6] Management and Future Outlook - The company plans to implement new accounting standards starting in 2025, which may affect financial reporting[30] - The company’s management team includes Zhu Yousheng as the head and Zhang Ying as the accounting supervisor, ensuring financial oversight[30]