First(SH:603806)2025-04-25 09:35Financial Performance - The company's operating revenue for Q1 2025 was CNY 3,624,381,474.09, a decrease of 31.89% compared to CNY 5,321,491,035.96 in the same period last year[3]. - Net profit attributable to shareholders was CNY 401,123,503.51, down 23.08% from CNY 521,500,737.00 year-on-year[3]. - Basic earnings per share decreased to CNY 0.154, a decline of 23.00% compared to CNY 0.200 in the previous year[3]. - The decline in revenue and profit was primarily due to a decrease in the sales price of photovoltaic film products, which fell more than the decline in raw material costs[5]. - Total operating revenue for Q1 2025 was approximately ¥3.62 billion, a decrease of 31.9% compared to ¥5.32 billion in Q1 2024[15]. - Net profit for Q1 2025 was approximately ¥395.41 million, a decline of 24.1% from ¥521.08 million in Q1 2024[16]. - Basic earnings per share for Q1 2025 were ¥0.154, compared to ¥0.200 in Q1 2024, reflecting a decrease of 22.9%[16]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -435,623,238.38, compared to CNY -33,529,867.60 in the same period last year[3]. - Cash flow from operating activities for Q1 2025 was negative at approximately -¥435.62 million, compared to -¥33.53 million in Q1 2024[18]. - Cash and cash equivalents decreased to CNY 4,155,675,692.73 from CNY 5,005,201,661.13, indicating a decline of about 16.93%[10]. - Cash and cash equivalents at the end of Q1 2025 were approximately ¥3.53 billion, down from ¥5.34 billion at the end of Q1 2024[19]. - The company's cash flow from investing activities for Q1 2025 was negative at approximately -¥984.98 million, worsening from -¥546.01 million in Q1 2024[19]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 21,543,749,347.75, an increase of 1.56% from CNY 21,211,809,320.40 at the end of the previous year[4]. - Current assets totaled CNY 16,258,382,839.31, compared to CNY 15,925,575,984.71 in the previous period, reflecting a growth of approximately 2.09%[10]. - Accounts receivable stood at CNY 3,572,235,436.02, down from CNY 3,985,331,209.23, representing a decrease of approximately 10.4%[10]. - The total liabilities decreased slightly to CNY 4,533,078,307.36 from CNY 4,594,141,839.45, a reduction of about 1.33%[12]. - The company's equity attributable to shareholders increased to CNY 16,811,069,882.74 from CNY 16,412,409,543.86, showing an increase of approximately 2.43%[12]. - Inventory levels rose to CNY 2,214,777,330.38 from CNY 1,868,284,937.26, marking an increase of about 18.46%[10]. - The company reported a decrease in short-term borrowings from CNY 66,478,399.95 to CNY 15,743,207.76, a significant reduction of approximately 76.36%[12]. - The total non-current assets remained relatively stable at CNY 5,285,366,508.44 compared to CNY 5,286,233,335.69, showing a negligible change[11]. Shareholder Information - The company had a total of 71,926 common shareholders at the end of the reporting period[6]. - The largest shareholder, Hangzhou Foster Technology Group, holds 48.47% of the shares, totaling 1,264,342,716 shares[7]. - The company has not reported any significant changes in its major shareholders or their relationships during the reporting period[8]. Other Financial Metrics - The weighted average return on equity fell to 2.41%, a decrease of 0.89 percentage points from 3.30%[3]. - The company reported non-recurring gains of CNY 23,492,922.55 during the period, primarily from investment income and government subsidies[5]. - Research and development expenses for Q1 2025 were approximately ¥109.71 million, a decrease of 38.7% from ¥179.27 million in Q1 2024[15]. - The company reported a significant increase in credit impairment losses, totaling approximately ¥171.80 million in Q1 2025, compared to ¥27.36 million in Q1 2024[15]. - Other comprehensive income after tax for Q1 2025 was approximately -¥3.06 million, compared to -¥52.56 million in Q1 2024, indicating an improvement[16].