China Salt Chemical(SH:600328)2025-04-28 07:50Financial Performance - The company's operating revenue for Q1 2025 was CNY 2,768,790,413.37, representing a year-on-year increase of 3.29% compared to CNY 2,680,511,440.17 in the same period last year[4]. - The net profit attributable to shareholders of the listed company decreased by 73.41% to CNY 17,274,986.02 from CNY 64,973,785.12 in the previous year[4]. - Basic earnings per share dropped by 73.47% to CNY 0.0117 from CNY 0.0441 in the previous year[4]. - The total comprehensive income for the first quarter of 2025 was CNY 26,835,643.28, a decrease from CNY 73,005,568.50 in the same period of 2024[23]. - The net profit for Q1 2025 was a loss of ¥42,711,405.27, compared to a loss of ¥34,749,794.40 in Q1 2024, reflecting an increase in losses of approximately 22.5%[32]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -410,226,101.65, a significant decline of 1,237.65% compared to CNY -30,667,604.39 in the same period last year[4]. - Cash received from sales of goods and services in Q1 2025 was CNY 938,269,134.51, down from CNY 1,712,999,178.25 in Q1 2024, reflecting a decrease of approximately 45%[25]. - The company's cash flow from operating activities showed a net outflow of ¥232,058,446.29 in Q1 2025, an improvement from a net outflow of ¥662,598,079.74 in Q1 2024[33]. - The cash and cash equivalents at the end of Q1 2025 were CNY 262,219,616.34, down from CNY 1,005,978,907.36 at the end of Q1 2024[27]. - The company's cash and cash equivalents decreased from ¥1,124,143,019.63 to ¥743,396,148.06[17]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 18,444,562,775.41, down 1.61% from CNY 18,746,271,790.93 at the end of the previous year[5]. - Total liabilities amounted to ¥5,284,171,822.79, down from ¥5,561,505,328.51 in the previous period[19]. - The total current liabilities increased to CNY 1,505,715,079.36 as of March 31, 2025, compared to CNY 1,349,476,292.66 at the end of 2024[29]. - The total equity decreased to ¥8,413,603,089.11 from ¥8,516,708,186.69, indicating a decline of 1.2%[30]. Research and Development - The company's research and development expenses decreased by 31.35% compared to the previous year, indicating a reduction in investment in this area[7]. - Research and development expenses in Q1 2025 amounted to ¥31,107,928.08, a decrease of 31.4% compared to ¥45,312,884.85 in Q1 2024[22]. - Research and development expenses increased to ¥17,383.19 in Q1 2025 from ¥2,800.00 in Q1 2024, showing a significant increase of 520.4%[31]. Shareholder Information - The total number of common shareholders at the end of the reporting period is 77,264[9]. - The largest shareholder, China Salt Jilantai Salt Chemical Group Co., Ltd., holds 669,780,187 shares, accounting for 45.51% of the total shares[9]. - The top ten shareholders do not participate in margin trading or stock lending activities[10]. Strategic Initiatives - A joint venture with China National Petroleum Corporation was established with a registered capital of RMB 40 million, where CNPC holds 51% and China Salt holds 49%[11]. - The establishment of the joint venture aligns with national industrial policies and aims to enhance the company's influence in the soda ash industry[12]. - The company is focusing on high-quality development and resource acquisition in the natural soda ash sector[12]. - The company plans to use at least 50% of the repurchase funds to maintain company value and shareholder rights[12]. Share Repurchase - The company has repurchased a total of 6.6136 million shares, representing 0.4494% of the total share capital, with a total expenditure of RMB 50 million[13]. - The maximum repurchase price was RMB 7.98 per share, while the minimum was RMB 7.28 per share[13].