航发动力(600893) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was ¥6,164,858,155.55, a decrease of 1.71% compared to ¥6,272,295,886.18 in the same period last year[4] - The net profit attributable to shareholders was ¥7,511,371.77, representing a significant decline of 95.15% from ¥154,854,528.80 year-on-year[4] - The basic earnings per share dropped by 95.18% to ¥0.0028 from ¥0.0581 year-on-year[4] - Net profit for Q1 2025 was ¥35,129,600.57, a significant decline of 81.1% from ¥185,796,641.69 in Q1 2024[19] - Total profit for Q1 2025 was ¥70,297,487.08, a decrease of 67.8% from ¥218,144,023.47 in Q1 2024[19] - The company's total revenue for Q1 2025 was CNY 2,611,903,470.76, a decrease of 27.2% compared to CNY 3,584,153,486.36 in Q1 2024[30] - The net profit for Q1 2025 was CNY 40,446,336.08, down 25.7% from CNY 54,422,775.93 in Q1 2024[30] Cash Flow and Liquidity - The net cash flow from operating activities increased by 168.54%, reaching ¥2,063,115,227.25, compared to a negative cash flow of ¥3,009,892,150.92 in the previous year[4] - Cash flow from operating activities for Q1 2025 was ¥2,063,115,227.25, a recovery from a negative cash flow of ¥3,009,892,150.92 in Q1 2024[22] - The company reported a significant increase in sales cash inflow to ¥15,122,815,624.49 in Q1 2025, compared to ¥6,764,319,733.42 in Q1 2024[22] - The company incurred a net cash outflow from financing activities of ¥5,883,073,171.56 in Q1 2025, compared to a net outflow of ¥1,421,279,638.80 in Q1 2024[23] - The company's cash and cash equivalents were CNY 747,805,365.41 as of March 31, 2025, down from CNY 1,111,766,562.25 on December 31, 2024[26] - The company reported a significant decrease in cash and cash equivalents from CNY 7.73 billion to CNY 3.22 billion, highlighting liquidity concerns[13] - The total cash and cash equivalents at the end of Q1 2025 were approximately $747.81 million, a decrease from $1.43 billion at the end of Q1 2024[35] Assets and Liabilities - The company's total assets decreased by 2.68% to ¥112,812,044,875.41 from ¥115,913,298,911.68 at the end of the previous year[4] - As of March 31, 2025, the total assets of China Aviation Engine Group Co., Ltd. amounted to CNY 112.81 billion, a decrease from CNY 115.91 billion as of December 31, 2024[12] - The company's current assets decreased to CNY 80.60 billion from CNY 83.90 billion, primarily due to a reduction in cash and cash equivalents[13] - Total liabilities decreased to CNY 65.06 billion from CNY 70.40 billion, reflecting a reduction in short-term borrowings[15] - The total liabilities decreased from CNY 18,163,414,040.39 on December 31, 2024, to CNY 17,169,757,022.83 on March 31, 2025[27] Research and Development - Research and development expenses increased by 76.14%, indicating a rise in investment in R&D activities[6] - Research and development expenses rose to ¥79,488,949.10 in Q1 2025, an increase of 76% compared to ¥45,129,453.71 in Q1 2024[18] - The company's R&D expenses for Q1 2025 were CNY 6,054,157.81, indicating ongoing investment in innovation[30] Financial Expenses - The financial expenses surged by 97.32%, primarily due to an increase in interest expenses from interest-bearing liabilities[6] - The company reported a financial expense of CNY 36,672,577.58 in Q1 2025, significantly higher than CNY 5,158,743.27 in Q1 2024, primarily due to increased interest expenses[30] Inventory and Receivables - Accounts receivable stood at CNY 35.05 billion, slightly down from CNY 35.72 billion, indicating a stable collection period[13] - Inventory increased significantly to CNY 37.25 billion from CNY 31.70 billion, suggesting potential overstocking or increased production[13] - The company's inventory increased to CNY 8,612,573,859.29 as of March 31, 2025, from CNY 8,409,707,894.18 as of December 31, 2024[26] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 140,870[8] - The company has not reported any significant changes in its shareholder structure or major financing activities during the reporting period[10] Other Observations - There are no new product launches or technological advancements mentioned in the current report, focusing instead on financial metrics[11]