中国神华(601088) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was RMB 69,585 million, a decrease of 21.1% compared to RMB 88,162 million in the same period last year[4] - Net profit attributable to shareholders was RMB 11,949 million, down 18.0% from RMB 14,564 million year-on-year[4] - The total profit for Q1 2025 was RMB 10,096 million, a decrease of 16.6% compared to RMB 12,104 million in Q1 2024[27] - The company's basic earnings per share for Q1 2025 were RMB 0.601, down 18.0% from RMB 0.733 in the previous year[4] - Operating profit for Q1 2025 was 17,780 million RMB, a decline of 21.0% from 22,542 million RMB in Q1 2024[42] - Net profit for Q1 2025 was 14,662 million RMB, down 15.0% from 17,300 million RMB in Q1 2024[42] Cash Flow and Liquidity - The net cash flow from operating activities was RMB 20,538 million, reflecting a decline of 25.9% from RMB 27,708 million in the previous year[4] - As of March 31, 2025, cash and cash equivalents increased by 8.0% to RMB 155,401 million compared to RMB 143,845 million at the end of December 2024, primarily due to net cash inflow from operating activities[15] - The company reported a significant decrease of 94.9% in net cash flow from investing activities, from RMB (25,084) million in Q1 2024 to RMB (1,268) million in Q1 2025, due to a reduction in fixed-term deposits[16] - The company's financing activities resulted in a net cash outflow of RMB (6,922) million in Q1 2025, a significant increase from RMB (300) million in Q1 2024, due to the repayment of maturing dollar bonds[16] Assets and Liabilities - The total assets at the end of the reporting period were RMB 672,307 million, representing a slight increase of 0.6% from RMB 668,022 million at the end of the previous year[6] - The total liabilities decreased to 159,423 million RMB in Q1 2025 from 171,377 million RMB in Q1 2024, a reduction of 6.9%[40] - The company's short-term borrowings decreased by 39.2% to RMB 2,928 million from RMB 4,812 million, as some short-term loans were repaid during the period[15] - The total liabilities decreased by 20.8% in accounts payable, from RMB 38,815 million to RMB 30,730 million, reflecting a reduction in payable materials and project costs[15] - The company’s long-term payables decreased by 17.4% to RMB 16,857 million, primarily due to payments related to mining rights[15] Revenue and Sales - The company's operating revenue for Q1 2025 was RMB 51,599 million, a decline of 25.7% from RMB 69,423 million in Q1 2024, primarily due to decreased coal sales volume and average selling prices[27] - Coal sales volume in Q1 2025 was 99.3 million tons, down 15.3% from 117.3 million tons in Q1 2024[23] - The average selling price of coal in Q1 2025 was RMB 506 per ton, down 11.5% from RMB 572 per ton in Q1 2024[25] - The sales volume of self-produced coal in Q1 2025 was 78.5 million tons, a decrease of 4.7% from 82.4 million tons in Q1 2024[23] - The sales volume of imported coal in Q1 2025 was 1.5 million tons, an increase of 15.4% compared to 1.3 million tons in Q1 2024[25] Operational Metrics - The company's coal production volume was 82.5 million tons, a decrease of 1.1% compared to 83.4 million tons in Q1 2024[23] - In Q1 2025, the total power generation was 50.42 billion kWh, a decrease of 10.7% compared to 56.47 billion kWh in Q1 2024[31] - The total installed capacity of power generation units reached 47,505 MW, with a net increase of 1,241 MW during the reporting period[33] - The average selling price of electricity in Q1 2025 was 386 RMB/MWh, down 5.6% from 409 RMB/MWh in Q1 2024[31] - The average selling cost of electricity in Q1 2025 was 353.7 RMB/MWh, a decrease of 3.1% from 364.9 RMB/MWh in Q1 2024[35] Acquisitions and Investments - The acquisition of 100% equity in Hanjin Energy from China Energy Group was completed on February 11, 2025, which has been included in the consolidated financial statements[6] - Hanjin Energy achieved operating revenue of RMB 1,025 million in Q1 2025, with a net profit of RMB -82 million, showing improvement from a net loss of RMB -1,319 million in the same period last year[7] - The company completed the acquisition of 100% equity in Hangjin Energy, which had a net profit of 1,052,425 RMB prior to the merger[43] - The construction in progress increased by 7.8% to RMB 30,974 million, reflecting ongoing investments in power generation and coal projects[15] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 193,774, with the largest shareholder, State Energy Investment Group, holding 69.52% of the shares[19]