厦钨新能(688778) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 2,976,556,152.31, representing a decrease of 9.77% compared to CNY 3,298,786,656.17 in the same period last year[3] - Net profit attributable to shareholders was CNY 116,678,997.20, an increase of 4.84% from CNY 111,288,715.41 year-on-year[3] - The company reported a revenue of RMB 2.977 billion in Q1 2025, a decrease of 9.77% year-on-year, while the total profit was approximately RMB 124 million, an increase of 8.52% year-on-year[12] - The net profit attributable to the parent company was around RMB 117 million, reflecting a year-on-year growth of 4.84%, and the net profit after deducting non-recurring gains and losses was approximately RMB 111 million, up by 8.51% year-on-year[12] - Basic earnings per share for the period were CNY 0.28, reflecting a 7.69% increase from CNY 0.26 in the same period last year[3] - Basic earnings per share for Q1 2025 was ¥0.28, up from ¥0.26 in Q1 2024[19] - Net profit for Q1 2025 was approximately ¥114.59 million, an increase of 3.6% compared to ¥110.58 million in Q1 2024[19] Cash Flow and Assets - The net cash flow from operating activities decreased by 45.78%, amounting to CNY 273,374,182.94, primarily due to an increase in accounts payable[6] - Current assets totaled RMB 8.424 billion, down from RMB 8.571 billion at the end of 2024, with cash and cash equivalents at RMB 1.708 billion[13] - The company's total liabilities were RMB 5.370 billion, a decrease from RMB 5.685 billion at the end of 2024[15] - The equity attributable to shareholders of the parent company was RMB 8.864 billion, an increase from RMB 8.737 billion at the end of 2024[15] - Cash flow from operating activities for Q1 2025 was approximately ¥273.37 million, a decrease of 45.7% from ¥504.18 million in Q1 2024[22] - The total cash and cash equivalents at the end of the period amounted to $1.71 billion, down from $2.28 billion in the previous period, representing a decrease of approximately 25%[23] - The net cash flow from investing activities was -$156.54 million, compared to -$268.98 million in the previous period, indicating an improvement of approximately 42%[23] - The net cash flow from financing activities was -$56.44 million, a significant decrease from a positive $842.29 million in the previous period, reflecting a change of over 106%[23] Research and Development - Research and development expenses totaled CNY 98,564,879.76, which is 3.31% of operating revenue, up from 2.64% in the previous year[4] - Research and development expenses for Q1 2025 were approximately ¥98.56 million, an increase of 13.0% from ¥87.22 million in Q1 2024[18] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,235[9] - The largest shareholder, Xiamen Tungsten Co., Ltd., holds 50.26% of the shares, totaling 211,475,699 shares[9] Market and Product Performance - In Q1 2025, the company achieved a total sales volume of lithium-ion cathode materials of 24,800 tons, with lithium cobalt oxide sales of 12,300 tons, representing a year-on-year increase of 46.55%, while ternary material sales decreased by 31.53% to 10,900 tons[12] - The company is focused on expanding its market presence and developing new products and technologies in the lithium-ion battery sector[12] Other Financial Metrics - The weighted average return on equity increased to 1.33%, up by 0.04 percentage points compared to 1.29% in the previous year[4] - The company reported non-recurring gains of CNY 5,308,809.13 for the period, after accounting for tax and minority interests[6] - Other comprehensive income after tax for Q1 2025 was approximately ¥15.05 million, compared to a loss of ¥4.26 million in Q1 2024[19] - The company reported a decrease in financial expenses, with interest expenses dropping to approximately ¥5.82 million from ¥23.03 million in Q1 2024[18] - The company experienced a significant increase in tax expenses, which rose to approximately ¥9.12 million from ¥3.42 million in Q1 2024[18] Future Outlook - The company plans to implement new accounting standards starting in 2025, which may affect the financial statements[23] - The company’s cash flow management strategies are under review to address the significant changes in financing activities and cash reserves[23] - The company has not disclosed any significant mergers or acquisitions during the reporting period[10] - The company has not reported any changes in the participation of major shareholders in margin financing and securities lending activities[10]