HHI(SH:601226)2025-04-24 14:05Financial Performance - In Q1 2025, the company achieved operating revenue of CNY 1.498 billion, a year-on-year increase of 17.42%[12] - The net profit attributable to shareholders was a loss of CNY 82.38 million, an improvement of 15.18% compared to the same period last year[5] - The net cash flow from operating activities was a negative CNY 892.54 million, showing a 17.14% improvement year-on-year[5] - Total operating revenue for Q1 2025 reached CNY 1,496,882,104.10, an increase of 17.4% compared to CNY 1,274,810,534.03 in Q1 2024[25] - Total operating costs for Q1 2025 were CNY 1,579,583,199.22, up from CNY 1,371,353,906.17 in Q1 2024, reflecting a rise of 15.2%[25] - Operating profit for Q1 2025 was a loss of CNY 77,694,320.14, an improvement from a loss of CNY 92,092,353.02 in Q1 2024[25] - The company reported a net loss of CNY 77,646,666.05 for Q1 2025, compared to a net loss of CNY 91,852,789.92 in Q1 2024[25] - The net loss for the first quarter of 2025 was approximately ¥84.38 million, an improvement from a net loss of ¥96.72 million in the same period of 2024, representing a reduction of about 12.4%[26] - The total revenue from operating activities for Q1 2025 was ¥1.54 billion, a significant increase of approximately 49.2% compared to ¥1.03 billion in Q1 2024[29] - The net cash flow from operating activities for Q1 2025 was -¥892.54 million, an improvement from -¥1.08 billion in Q1 2024, indicating a reduction in cash outflow of about 17.2%[29] - The basic and diluted earnings per share for Q1 2025 were both -¥0.0707, an improvement from -¥0.0833 in Q1 2024, indicating a reduction in loss per share[26] Assets and Equity - The total assets at the end of the reporting period were CNY 10.87 billion, a decrease of 3.92% from the end of the previous year[6] - The total equity attributable to shareholders was CNY 4.20 billion, down 1.89% from the previous year-end[6] - Cash and cash equivalents decreased to CNY 1,560,067,672.39 as of March 31, 2025, from CNY 2,557,729,005.25 as of December 31, 2024[22] - Accounts receivable increased to CNY 2,393,249,167.03 as of March 31, 2025, compared to CNY 2,152,984,080.25 as of December 31, 2024, indicating a rise of 11.2%[22] - Inventory rose to CNY 742,012,072.55 as of March 31, 2025, up from CNY 651,883,847.96 as of December 31, 2024, reflecting an increase of 13.8%[22] Government Support and Subsidies - The company received government subsidies amounting to CNY 464,642.42, which are closely related to its normal business operations[7] Renewable Energy and Technology Development - By 2025, the first batch of coal power low-carbon transformation projects is expected to start construction, with carbon emissions per kilowatt-hour reduced by approximately 20% compared to the average level of similar coal power units in 2023[13] - The national plan anticipates an average annual installation of over 20GW for offshore wind power during the 14th Five-Year Plan period, with over 25GW of projects approved and awaiting bidding by 2025[14] - The company has achieved a daily hydrogen production record of 21.6 tons from its integrated wind-solar-hydrogen storage project in Inner Mongolia, following a series of upgrades and modifications[15] - The company has completed the design and procurement for its first external system project in Cangzhou, which is set to enter the installation phase soon[15] - The company is actively developing gravity energy storage technology and has joined a research platform to create various gravity energy storage solutions suitable for different scales[17] - The company is exploring integrated projects for green hydrogen and ammonia, with significant advancements in key materials and core components for green hydrogen coupling with green ammonia and methanol[19] - The company has established a pilot facility for producing 10,000 tons of green ammonia and 1,000 tons of green methanol, contributing to the development of low-carbon technologies[19] - The company is collaborating on major projects in Indonesia and Vietnam for wind-solar-hydrogen storage integration, enhancing its position in the renewable energy sector[19] - The company is focusing on the development of hydrogen energy and green liquid fuels, with plans to promote the sustainable fuel industry and fuel cell vehicle applications[15] - The company is developing a molten salt thermal storage test platform, expected to be operational by December 2024, which will support technology innovation and collaboration[20] - The company aims to enhance its capabilities in molten salt thermal storage technology, equipment manufacturing, system design, and project management[20] - The company has provided project proposals for deep peak shaving projects based on molten salt thermal storage to multiple thermal power plants in various regions[20] Shareholder Information - The company has a total of 46,191 common shareholders at the end of the reporting period[9] Cash Flow and Financing Activities - The cash flow from investing activities showed a net outflow of ¥12.85 million in Q1 2025, compared to a net outflow of ¥5.54 million in Q1 2024, indicating increased investment activity[30] - The cash flow from financing activities resulted in a net outflow of ¥82.54 million in Q1 2025, compared to a net outflow of ¥5.80 million in Q1 2024, reflecting higher financing costs[30] - The ending cash and cash equivalents balance for Q1 2025 was ¥1.54 billion, an increase from ¥1.34 billion in Q1 2024, showing improved liquidity[30] - The company received cash from sales and services amounting to ¥1.54 billion in Q1 2025, which is a substantial increase from ¥1.03 billion in Q1 2024, highlighting strong sales performance[29] - The company reported cash received from tax refunds of ¥3.16 million in Q1 2025, compared to ¥480,121.67 in Q1 2024, indicating improved tax recovery[29] Mergers and Acquisitions - The company has not reported any net profit from merged entities in the current or previous periods, indicating no contribution from acquisitions to the current financial results[26]