WTECL(SH:600157)2025-04-28 12:00Financial Performance - The company's operating revenue for Q1 2025 was approximately ¥5.64 billion, a decrease of 22.96% compared to ¥7.32 billion in the same period last year[3]. - Net profit attributable to shareholders was approximately ¥51.07 million, down 89.06% from ¥466.62 million year-on-year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was approximately ¥42.37 million, a decline of 90.99% compared to ¥470.52 million in the previous year[3]. - Basic and diluted earnings per share were both ¥0.0023, representing a decrease of 89.05% from ¥0.0210 in the same period last year[3]. - The net cash flow from operating activities was approximately ¥1.04 billion, down 7.19% from ¥1.12 billion year-on-year[3]. - Total revenue for Q1 2025 was approximately ¥5.64 billion, a decrease of 22.9% compared to ¥7.32 billion in Q1 2024[23]. - Total operating costs for Q1 2025 were approximately ¥5.36 billion, down 16.8% from ¥6.44 billion in Q1 2024[23]. - Net profit for Q1 2025 was approximately ¥114 million, a decline of 80.5% from ¥585 million in Q1 2024[24]. - The operating profit for Q1 2025 was approximately ¥271 million, a decrease of 69.0% compared to ¥878 million in Q1 2024[23]. - Cash flow from operating activities for Q1 2025 was approximately ¥1.04 billion, a decrease of 7.2% from ¥1.12 billion in Q1 2024[27]. - The company reported a total comprehensive income of approximately ¥187 million for Q1 2025, down 56.7% from ¥433 million in Q1 2024[24]. - The company incurred a financial expense of approximately ¥423 million in Q1 2025, a decrease of 14.4% from ¥494 million in Q1 2024[23]. Assets and Liabilities - Total assets at the end of the reporting period were approximately ¥107.47 billion, a slight decrease of 0.28% from ¥107.78 billion at the end of the previous year[3]. - The company's current assets totaled CNY 9.56 billion, down from CNY 9.67 billion at the end of 2024, primarily due to a decrease in inventory from CNY 853.26 million to CNY 655.23 million[19][20]. - The company's total liabilities were CNY 55.25 billion, a decrease from CNY 55.74 billion at the end of 2024, reflecting a reduction in non-current liabilities[21]. - The company's cash and cash equivalents increased to CNY 2.32 billion from CNY 1.77 billion, indicating improved liquidity[19]. - Accounts receivable decreased from CNY 3.36 billion to CNY 2.93 billion, suggesting a potential improvement in collection efficiency[19]. - The company's long-term equity investments increased from CNY 2.24 billion to CNY 2.30 billion, indicating ongoing investment in strategic assets[19]. - The company reported a decrease in short-term borrowings from CNY 3.29 billion to CNY 3.37 billion, reflecting a cautious approach to debt management[20]. Shareholder Equity - Shareholders' equity attributable to shareholders was approximately ¥47.26 billion, an increase of 0.24% from ¥47.15 billion at the end of the previous year[3]. - The total equity attributable to shareholders increased slightly from CNY 47.15 billion to CNY 47.26 billion, indicating stable shareholder value[21]. - As of April 10, 2025, the company has repurchased shares worth 293 million yuan, totaling 246 million shares, which is 1.11% of the total share capital[16]. Operational Highlights - The decline in net profit was primarily due to decreased gross margins in coal business and lower electricity generation and pricing compared to the previous year[6]. - In Q1 2025, the company achieved a power generation of 9.632 billion kWh and a sales volume of 9.119 billion kWh, with operating revenue of 5.641 billion yuan and a net profit attributable to shareholders of 51 million yuan[10]. - The Haizetang coal mine project has entered the second phase, with significant milestones achieved, including the completion of 1,947.9 meters of precise tunneling and the temporary hoisting system, which shortens the construction period[10]. - The company plans to start the third phase of the Haizetang coal mine project in Q3 2025, with an expected coal production of 3 million tons in 2026 and 10 million tons in 2027[11]. - In Q1 2025, the company’s coal procurement price decreased by 140 yuan/ton year-on-year, significantly reducing fuel procurement costs[12]. - The company’s coal-fired power plants generated auxiliary frequency regulation service revenue of 9.37 million yuan in Q1 2025, while gas-fired units earned 7.03 million yuan from peak shaving services[13]. Research and Development - The company has made breakthroughs in key storage technologies, including two patent authorizations related to energy storage equipment and methods[16]. - The modular energy storage product design was completed by the end of February 2025, aimed at reducing overall cycle costs and enhancing safety[16]. - The all-vanadium flow battery demonstration project has been operating stably since September 2024, with a cumulative photovoltaic generation of 1.42 million kWh and 155 charge/discharge cycles by March 31, 2025[16]. Corporate Decisions - The company decided to terminate the planned share issuance for asset acquisition due to disagreements on transaction pricing, which was announced on February 7, 2025[17]. - The company has maintained a consistent financial reporting scope with no changes in the consolidation range during the reporting period[18].