Financial Performance - The company's operating revenue for the first quarter was CNY 19,649,565,831, a decrease of 7.95% compared to the same period last year[8]. - Net profit attributable to shareholders was CNY -731,607,981, representing a decline of 159.95% year-on-year[8]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY -892,825,355, a decrease of 229.89% compared to the previous year[8]. - Basic and diluted earnings per share were both CNY -0.07, a decrease of 158.33% compared to the same period last year[8]. - Total operating revenue for Q1 2025 was RMB 19.88 billion, a decrease of 7.85% from RMB 21.57 billion in Q1 2024[25]. - Net profit for Q1 2025 was a loss of RMB 1.10 billion, compared to a profit of RMB 1.09 billion in Q1 2024, representing a significant decline[26]. - Operating profit for Q1 2025 was a loss of RMB 1.28 billion, contrasting with a profit of RMB 960.66 million in Q1 2024[25]. - Other comprehensive income after tax for Q1 2025 was a loss of RMB 143.09 million, compared to a gain of RMB 77.10 million in Q1 2024[26]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY -11,209,828,031, down 82.59% year-on-year[8]. - Cash flow from operating activities in Q1 2025 was a net outflow of RMB 11.21 billion, worsening from a net outflow of RMB 6.14 billion in Q1 2024[30]. - Cash inflow from investment activities in Q1 2025 was RMB 14.95 billion, a substantial increase from RMB 5.29 billion in Q1 2024[31]. - Cash inflow from financing activities for Q1 2025 was 11,861,329,725, an increase from 10,670,470,033 in Q1 2024, representing a growth of approximately 11.1%[32]. - Cash outflow for debt repayment in Q1 2025 was 11,527,151,132, significantly higher than 6,957,207,153 in Q1 2024, indicating an increase of about 65.7%[32]. - Net cash flow from financing activities for Q1 2025 was 134,284,999, a decrease from 2,088,007,282 in Q1 2024, reflecting a decline of approximately 93.6%[32]. - The net increase in cash and cash equivalents for Q1 2025 was -13,036,192,159, worsening from -8,381,442,470 in Q1 2024[32]. - The ending balance of cash and cash equivalents for Q1 2025 was 34,248,011,042, down from 37,483,348,836 in Q1 2024, indicating a decrease of approximately 8.4%[32]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 213,127,589,921, down 8.32% from the end of the previous year[8]. - The company's current assets as of March 31, 2025, total 95,464,692,991 RMB, down from 112,026,049,266 RMB as of December 31, 2024, representing a decrease of about 14.77%[19]. - The company's total liabilities decreased from 110,681,758,605 RMB to 92,690,707,384 RMB, a reduction of approximately 16.3%[23]. - The company's total equity decreased from 121,776,582,061 RMB to 120,436,882,537 RMB, a decline of approximately 1.1%[23]. - The total non-current assets decreased from 120,432,291,400 RMB to 117,662,896,930 RMB, a decline of about 2.3%[21]. - Short-term borrowings decreased from 16,577,457,427 RMB to 15,209,312,070 RMB, a reduction of about 8.3%[22]. Shareholder Information - The company reported a total of 134,377 common shareholders at the end of the reporting period[14]. - The largest shareholder, Guangzhou Automobile Industry Group Co., Ltd., held 54.02% of the shares[14]. - Guangzhou Automobile Industry Group Co., Ltd. holds 5,508,160,069 shares, accounting for approximately 54.02% of the total share capital[17]. Operational Insights - The decline in net profit was primarily due to a decrease in automobile sales and increased promotional expenses amid intensified market competition[13]. - The company's cash and cash equivalents decreased from 51,623,670,169 RMB to 38,356,495,606 RMB, a decline of about 25.7%[19]. - Inventory increased from 15,688,476,438 RMB to 18,916,475,348 RMB, an increase of approximately 20.0%[19]. - Long-term investments rose from 30,099,842,301 RMB to 34,774,354,540 RMB, an increase of about 15.5%[21]. - The company experienced a significant increase in interest income, reaching RMB 229.49 million in Q1 2025, compared to RMB 219.99 million in Q1 2024[25]. - Research and development expenses for Q1 2025 were RMB 377.06 million, slightly up from RMB 375.36 million in Q1 2024[25]. - Total operating costs for Q1 2025 were RMB 22.57 billion, a decrease of 2.12% from RMB 23.06 billion in Q1 2024[25]. - The impact of exchange rate changes on cash and cash equivalents in Q1 2025 was 62,823,668, compared to 55,889,655 in Q1 2024, showing an increase of about 12.4%[32]. - The company reported a significant increase in accounts receivable from 3,352,938,658 RMB to 4,067,693,726 RMB, an increase of approximately 21.3%[19].
广汽集团(02238) - 2025 Q1 - 季度业绩