正平股份(603843) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was ¥146,974,287.30, a decrease of 38.29% compared to ¥238,161,929.10 in the same period last year[4] - Net profit attributable to shareholders was ¥14,571,522.99, a significant increase of 187.99% from a loss of ¥16,561,239.20 in the previous year[4] - The basic and diluted earnings per share both stood at ¥0.02, reflecting a 200.00% increase from the previous year[5] - The company experienced a significant increase in net profit due to the reversal of bad debt provisions, contributing to a 170.98% rise in net profit excluding non-recurring gains and losses[4] - Total operating revenue for Q1 2025 was CNY 146,974,287.30, a decrease of 38.2% compared to CNY 238,161,929.10 in Q1 2024[19] - Net profit for Q1 2025 was CNY 6,605,637.91, compared to a net loss of CNY 19,984,096.64 in Q1 2024[21] - Operating profit for Q1 2025 was CNY 10,921,053.56, a significant improvement from a loss of CNY 20,259,803.26 in Q1 2024[20] - The company reported an increase in investment income to CNY 4,966,924.92 in Q1 2025, compared to CNY 3,670,802.80 in Q1 2024[20] - The company's total comprehensive income for Q1 2025 was ¥8,133,778.71, compared to ¥1,314,020.74 in Q1 2024, showing a significant increase[31] Cash Flow and Assets - Cash flow from operating activities increased by 49.81% to ¥71,034,837.53, compared to ¥47,415,456.01 in the same period last year[4] - The net cash flow from operating activities for the first quarter of 2025 was CNY 71,034,837.53, compared to CNY 47,415,456.01 in the same period of 2024, representing a year-over-year increase of approximately 49.9%[23] - Total cash inflow from operating activities was CNY 419,790,149.83, while cash outflow was CNY 348,755,312.30, resulting in a net cash inflow of CNY 71,034,837.53[23] - The total cash and cash equivalents at the end of the period were CNY 69,750,442.61, compared to CNY 304,772,710.83 at the end of 2024, reflecting a significant decrease[24] - As of March 31, 2025, the company's total current assets amounted to RMB 3,501,282,784.14, a decrease from RMB 3,803,650,944.45 as of December 31, 2024, representing a decline of approximately 7.95%[15] - The company's cash and cash equivalents decreased to RMB 144,416,004.65 from RMB 197,345,192.19, reflecting a decline of about 26.8%[15] - Accounts receivable decreased to RMB 706,942,682.82 from RMB 1,045,066,252.29, indicating a reduction of approximately 32.4%[15] - Current assets totaled CNY 3,294,967,159.67 as of March 31, 2025, down from CNY 3,416,262,008.65 at the end of 2024, a decrease of approximately 3.6%[26] - Accounts receivable decreased to CNY 473,719,158.96 from CNY 779,823,700.20, a decline of about 39.2%[26] Liabilities and Equity - Total assets at the end of the reporting period were ¥7,104,706,061.30, a decrease of 2.64% from ¥7,297,077,180.76 at the end of the previous year[5] - Total liabilities decreased to CNY 6,436,617,214.49 in Q1 2025 from CNY 6,634,329,373.63 in Q1 2024[17] - The total liabilities decreased to CNY 4,259,773,139.98 from CNY 4,394,210,290.92, a reduction of approximately 3.1%[28] - The company's retained earnings improved to -CNY 248,147,298.10 from -CNY 264,606,282.57, showing a positive change in retained earnings[28] Operational Challenges - The decline in operating revenue was primarily due to slower construction progress on certain projects and a decrease in the amount of large project bids[4] - The company is focusing on improving operational efficiency and reducing costs in response to the revenue decline[19] - The company has extended the construction period for certain investment projects to June 30, 2026, based on local government requirements[12] New Ventures - The company established Shanghai Xinchuan Technology Co., Ltd. with a registered capital of RMB 10 million, holding a 51% stake[11] - A new company, Haidong Anyu Operation Management Co., Ltd., was established with a registered capital of RMB 1 million, where Haidong Ping'an holds 99%[12]