CGE(SZ:002542)2025-04-28 18:25Financial Performance - The company's operating revenue for Q1 2025 was ¥131,484,140.32, a decrease of 35.61% compared to ¥204,205,480.13 in the same period last year[5] - The net profit attributable to shareholders was -¥51,588,780.42, reflecting a slight increase in loss of 2.44% from -¥50,362,351.85 year-on-year[5] - The company reported a total revenue of CNY 131,484,140.32 for the current period, a decrease of approximately 35.5% compared to CNY 204,205,480.13 in the previous period[25] - The company reported a net loss of CNY 57,190,407.57 for the current period, slightly improved from a loss of CNY 57,921,243.41 in the previous period[25] - The total profit (loss) for the period was -58,703,219.11, compared to -57,725,422.53 in the previous period, indicating a slight increase in losses[26] - The net profit (loss) for the period was -51,893,204.57, compared to -49,985,637.14 in the previous period, reflecting a worsening of financial performance[26] - The total comprehensive income for the period was -50,378,296.97, compared to -49,946,653.99 in the previous period, showing a marginal increase in losses[26] - The basic and diluted earnings per share remained at -0.03, unchanged from the previous period[26] Cash Flow and Liquidity - The net cash flow from operating activities improved by 46.05%, amounting to -¥76,640,202.58, compared to -¥142,052,198.93 in the previous year[5] - Cash flow from operating activities showed a net outflow of -76,640,202.58, an improvement from -142,052,198.93 in the previous period[28] - Cash flow from investing activities resulted in a net outflow of -80,438.85, compared to -12,721,693.05 in the previous period, indicating reduced investment activity[29] - Cash flow from financing activities recorded a net outflow of -110,209,268.32, slightly improved from -124,038,883.85 in the previous period[29] - The cash and cash equivalents at the end of the period were 172,154,223.66, down from 458,962,110.67 in the previous period, indicating a significant decrease in liquidity[29] - The company's cash and cash equivalents decreased to CNY 253,059,823.89 from CNY 457,232,195.15, a decline of approximately 44.7%[21] - Operating cash inflows totaled 382,674,874.10, down from 656,468,613.91 in the previous period, reflecting a decline in revenue generation[28] Assets and Liabilities - Total assets decreased by 7.10% to ¥5,622,940,633.76 from ¥6,052,419,483.34 at the end of the previous year[5] - The total assets of the company stood at CNY 5,622,940,633.76, down from CNY 6,052,419,483.34, indicating a decrease of approximately 7.1%[24] - The total liabilities decreased to CNY 4,846,751,252.23 from CNY 5,226,132,315.10, a reduction of about 7.3%[24] - The equity attributable to shareholders decreased by 6.09% to ¥767,567,835.16 from ¥817,361,197.72 at the end of the previous year[5] - The company's non-current assets totaled CNY 2,108,893,843.02, a slight decrease from CNY 2,122,882,932.19[22] Investment and Expenses - Research and development expenses increased by 62.70% to ¥10,186,900, indicating a focus on innovation and new product development[9] - The company experienced a 40.81% decrease in investment income, amounting to ¥3,344,800.00, attributed to lower profits from invested entities[9] - The company reported a significant increase of 1676.43% in asset impairment losses, totaling ¥12,908,400.00, primarily due to higher provisions for contract asset bad debts[9] - The company plans to recognize an asset impairment provision totaling CNY 77,764.03 million for the year 2024, indicating potential concerns regarding asset value[20] - Total operating costs amounted to CNY 221,825,460.80, down from CNY 300,954,012.39, reflecting a reduction of about 26.2%[25] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 163,787, with the largest shareholder holding 29.27% of the shares[11] Financing Activities - The company approved the issuance of medium-term notes not exceeding RMB 1 billion to optimize its financial structure and reduce financing costs[15] - The company received approval for the registration of RMB 1 billion in medium-term notes in August 2023[15] - The company issued its first medium-term notes for 2023 with a scale of RMB 500 million, which was fully received by August 28, 2023[15] - The company also issued its second medium-term notes for 2023 with a scale of RMB 500 million, fully received by December 25, 2023[15] - The company issued its first medium-term notes for 2020 with a scale of RMB 800 million, which was fully received by September 7, 2020[14] - As of August 2023, the company exercised the repurchase option for RMB 100 million of the 2020 medium-term notes, leaving RMB 790 million outstanding[14] Legal and Compliance - The total amount of newly added litigation and arbitration cases reached CNY 22,244.91 million, representing 9.95% of the company's latest audited net assets[20] - The company’s wholly-owned subsidiary was listed as a dishonest executor by the court[18] - The company’s board approved a guarantee for financing using accounts receivable of RMB 398.39 million, with a credit limit of RMB 320 million[17] Project and Transaction Expectations - The company anticipates daily related transactions for 2025 to total RMB 1,393 million, a significant increase from RMB 30.24 million in 2024[19] - The company’s wholly-owned subsidiary was selected for a project with a bid amount of RMB 12.40 million[18]