EGING PV(SH:600537)2025-04-28 14:05Financial Performance - The company's operating revenue for the first quarter was CNY 608,160,615.73, a decrease of 39.50% compared to CNY 1,005,160,200.16 in the same period last year[4] - The net loss attributable to shareholders was CNY -53,142,725.22, an improvement from a loss of CNY -210,970,455.49 in the previous year[4] - The company reported a basic and diluted earnings per share of CNY -0.04, compared to CNY -0.18 in the same period last year[4] - The company experienced a 39.50% decline in operating income due to decreased sales volume and prices of solar products[8] - Total operating revenue for Q1 2025 was ¥608.16 million, a decrease of 39.5% compared to ¥1,005.16 million in Q1 2024[21] - Net loss for Q1 2025 was ¥61.91 million, compared to a net loss of ¥246.11 million in Q1 2024, representing a 75.1% improvement[22] - The company reported a net profit of -557,629.23 yuan for Q1 2025, compared to -154,224.24 yuan in Q1 2024, indicating a significant increase in losses year-over-year[34] - The company reported a total comprehensive loss of -557,629.23 yuan for Q1 2025, compared to -154,224.24 yuan in Q1 2024, highlighting a worsening financial position[34] Cash Flow and Liquidity - The net cash flow from operating activities was CNY -95,315,118.97, compared to CNY -209,615,328.23 in the same period last year[4] - Cash inflow from operating activities in Q1 2025 was ¥607.76 million, a decrease of 22.6% from ¥785.83 million in Q1 2024[26] - The total cash and cash equivalents at the end of the period were 81,422,930.52 RMB, down from 183,235,645.03 RMB, reflecting a significant reduction in liquidity[28] - The company's cash flow from financing activities resulted in a net outflow of -3,498,045.04 yuan in Q1 2025, indicating challenges in raising funds[37] - The company’s cash flow from operating activities was negative, indicating potential liquidity issues moving forward[36] Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,134,273,650.95, a slight decrease of 0.26% from CNY 6,150,445,283.90 at the end of the previous year[5] - The total liabilities as of the reporting date were ¥5.69 billion, slightly up from ¥5.65 billion in the previous period[18] - The company’s total non-current liabilities increased to ¥2.94 billion from ¥2.78 billion, reflecting a growth of 5.5%[18] - The company's total liabilities decreased to 10,070,804.14 RMB from 15,052,836.53 RMB, indicating a reduction in financial obligations[31] Shareholder and Equity Information - The equity attributable to shareholders decreased by 11.14% to CNY 386,212,301.32 from CNY 434,649,606.89 at the end of the previous year[5] - Total equity attributable to shareholders decreased to ¥386.21 million from ¥434.65 million, a decline of 11.1%[18] - The number of ordinary shareholders at the end of the reporting period was 84,366[10] Operational Challenges - The company’s Changzhou base with 5GW PERC battery capacity and Chuzhou base with 7.5GW TOPCon battery capacity are currently in a shutdown phase due to cyclical fluctuations in the photovoltaic industry[13] - The company has not reported any significant impact on its financial performance due to the shutdown of battery production, as it can procure necessary components from the market[13] - The company incurred operating expenses of 10,152,535.25 yuan in Q1 2025, compared to 3,066,399.56 yuan in Q1 2024, indicating a rise in operational costs[36] Government and Regulatory Matters - Non-recurring gains and losses amounted to CNY 3,847,841.46, primarily due to government subsidies and fair value changes of financial assets[6] - The company is closely monitoring the potential impact of the controlling shareholder's frozen shares on its governance and operational structure[13] - The company will fulfill its information disclosure obligations in accordance with relevant laws and regulations regarding the ongoing situation with the controlling shareholder[13]