Financial Performance - The operating revenue for the first quarter of 2025 was CNY 5,753,004,599.20, a decrease of 4.01% compared to the same period last year[6]. - Net profit attributable to shareholders was CNY 707,702,522.84, down 43.31% year-on-year[6]. - Basic and diluted earnings per share were both CNY 0.1483, reflecting a decline of 43.33% compared to the previous year[6]. - Total revenue for Q1 2025 was CNY 5,753,004,599.20, a decrease of 4.01% compared to CNY 5,993,141,250.70 in Q1 2024[27]. - Net profit for Q1 2025 was CNY 801,240,569.00, down 40.25% from CNY 1,343,295,671.04 in Q1 2024[27]. - Basic earnings per share for Q1 2025 was CNY 0.1483, compared to CNY 0.2617 in Q1 2024, reflecting a decline of 43.29%[28]. Cash Flow and Investments - The net cash flow from operating activities was CNY 1,028,994,836.35, a decrease of 29.96% from the same period last year[6]. - In Q1 2025, the company generated operating cash inflow of CNY 5,598,007,354.03, an increase of 8.0% compared to CNY 5,182,066,169.18 in Q1 2024[29]. - The net cash flow from operating activities for Q1 2025 was CNY 1,469,134,552.85, up from CNY 1,028,994,836.35 in Q1 2024, representing a growth of 43.0%[29]. - The company reported a net cash outflow from investing activities of CNY -2,327,695,808.10 in Q1 2025, compared to CNY -729,550,710.71 in Q1 2024, indicating a significant increase in investment expenditures[30]. - The ending cash and cash equivalents balance for Q1 2025 was CNY 5,211,527,756.86, compared to CNY 3,727,628,356.49 in Q1 2024, showing an increase of 39.8%[30]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 81,746,381,969.46, an increase of 0.87% from the end of the previous year[9]. - Total liabilities decreased to CNY 41,807,659,144.74 as of March 31, 2025, from CNY 42,057,159,780.00 as of December 31, 2024[25]. - Long-term borrowings increased to CNY 27,787,533,621.00 as of March 31, 2025, up from CNY 27,039,085,450.42 as of December 31, 2024[25]. - Total current assets as of March 31, 2025, amounted to RMB 10.24 billion, an increase from RMB 9.54 billion at the end of 2024[23]. - Total non-current assets remained stable at CNY 71,505,303,610.59 as of March 31, 2025, compared to CNY 71,506,603,439.02 as of December 31, 2024[25]. Shareholder Information - The total number of shareholders was 107,927 at the end of the reporting period[13]. - The largest shareholder, China Shipping Group Co., Ltd., held 32.22% of the shares[15]. - As of March 31, 2025, China Ocean Shipping Group held 676,639,159 A-shares, representing 46.40% of the total issued share capital of the company[19]. Operational Metrics - In Q1 2025, the average Time Charter Equivalent (TCE) for Very Large Crude Carriers (VLCC) was $39,404 per day, which is higher than the average over the past seven years but decreased by approximately 10% compared to Q1 2024[18]. - The Group's oil transportation capacity increased by 16.3% year-on-year to 234,555 thousand tons per day, while the transportation volume (excluding time charter) rose by 13.8% to 47.91 million tons[20]. - The Group's revenue from the oil tanker segment was RMB 4.97 billion, a decrease of 5.6% year-on-year, with operating costs rising by 11.3% to RMB 4.10 billion[20]. - The gross profit margin for the oil tanker segment was approximately 17.5%, down 12.6 percentage points year-on-year[20]. - The Group's foreign trade oil transportation business achieved a gross profit of RMB 540 million, a decrease of 55.9% year-on-year due to lower freight rates[20]. - The average TCE for LR2 tankers was $28,073 per day, reflecting a year-on-year decrease of approximately 50%[18]. Future Outlook - The company completed the acquisition of controlling stakes in logistics-related enterprises in 2024, which was treated as a business combination under common control[10]. - The Group expects the delivery of 5 new vessels between April and December 2025[18].
中远海能(01138) - 2025 Q1 - 季度业绩