CSSC Holdings(SH:600150)2025-04-29 14:08Financial Performance - The company's operating revenue for Q1 2025 was ¥15,857,983,133.24, an increase of 3.85% compared to the same period last year[3]. - Net profit attributable to shareholders reached ¥1,126,903,895.50, representing a significant increase of 180.99% year-on-year[3]. - The net profit excluding non-recurring gains and losses was ¥1,117,284,202.12, up 230.20% from the previous year[3]. - Basic earnings per share increased to ¥0.252, reflecting a growth of 180.00% compared to the same period last year[3]. - Operating profit for Q1 2025 was ¥1,334,538,869.71, significantly higher than ¥423,966,763.62 in Q1 2024, marking an increase of 215.56%[17]. - Net profit attributable to shareholders of the parent company for Q1 2025 was ¥1,126,903,895.50, compared to ¥401,051,784.71 in Q1 2024, reflecting a growth of 180.66%[18]. - Basic earnings per share for Q1 2025 was ¥0.252, up from ¥0.090 in Q1 2024, indicating an increase of 180%[18]. Asset and Equity - The total assets at the end of the reporting period were ¥181,238,397,933.91, a slight decrease of 0.41% from the end of the previous year[3]. - The equity attributable to shareholders increased to ¥52,034,311,826.68, marking a growth of 2.23% compared to the previous year-end[3]. - The total assets of the company stood at RMB 181.24 billion, a decrease from RMB 181.98 billion, representing a decline of approximately 0.41%[14]. - The total equity increased to ¥56,551,024,845.10 in Q1 2025 from ¥55,266,402,630.47 in Q1 2024, representing a growth of 2.32%[17]. Cash Flow - The company reported a net cash flow from operating activities of -¥2,677,672,807.03, an improvement from -¥3,098,500,635.28 in the previous year[3]. - In Q1 2025, the cash inflow from operating activities was CNY 16,012,318,763.69, a decrease of 26.7% compared to CNY 21,922,081,328.38 in Q1 2024[21]. - The net cash flow from operating activities was -CNY 2,677,672,807.03 in Q1 2025, improving from -CNY 3,098,500,635.28 in Q1 2024[21]. - The total cash and cash equivalents at the end of Q1 2025 were CNY 24,879,240,719.60, compared to CNY 19,839,732,741.85 at the end of Q1 2024[22]. - The company experienced a net decrease in cash and cash equivalents of -CNY 1,561,253,467.54 in Q1 2025, compared to -CNY 9,639,278,502.01 in Q1 2024[22]. Operational Efficiency - The company emphasized improvements in production efficiency and management, contributing to the enhanced financial performance[6]. - The company continues to optimize its order structure and improve profitability in the shipbuilding sector, with a focus on delivering higher-margin products[6]. - The company is focusing on high-quality development in shipbuilding and enhancing operational quality in line with national strategic priorities[10]. Restructuring and Governance - The company is in the process of a significant asset restructuring, involving a share swap merger with China Shipbuilding Industry Corporation, which is classified as a major asset restructuring under relevant regulations[10]. - The first extraordinary shareholders' meeting of 2025 approved all proposals related to the merger on February 18, 2025[11]. - The merger is expected to not change the actual control of the company, ensuring stability in governance[10]. Liabilities and Payables - The total liabilities decreased to ¥124,687,373,088.81 in Q1 2025 from ¥126,710,366,678.52 in Q1 2024, a reduction of 1.60%[17]. - The company's short-term borrowings decreased to RMB 1.50 billion from RMB 2.08 billion, a reduction of approximately 27.67%[14]. - The accounts payable increased to RMB 28.55 billion from RMB 27.62 billion, showing an increase of about 3.38%[14].