CHINA RAILWAY(HK:00390)2023-04-28 10:25Financial Performance - The operating revenue for the first quarter was RMB 271,973,839, representing a year-on-year increase of 2.04%[3] - The net profit attributable to shareholders was RMB 7,878,535, reflecting a year-on-year growth of 3.84%[3] - The basic earnings per share for the period was RMB 0.305, an increase of 3.74% compared to the same period last year[3] - The company achieved a new contract amount of RMB 667.38 billion in Q1 2023, representing a year-on-year growth of 10.2%[14] - The company reported total operating revenue of RMB 272.625 billion in Q1 2023, reflecting a year-on-year growth of 2.07%[16] - The gross profit margin was 9.08%, a decrease of 0.12 percentage points compared to the previous year[16] - The company reported a significant increase in credit impairment losses, amounting to RMB -796,104 thousand in Q1 2023, compared to RMB -504,302 thousand in Q1 2022[24] - The net profit for Q1 2023 was RMB 8,866,464 thousand, compared to RMB 8,306,582 thousand in Q1 2022, indicating an increase of about 6.7%[24] - The total comprehensive income for Q1 2023 was RMB 8,531,751 thousand, up from RMB 8,271,912 thousand in Q1 2022, reflecting a growth of approximately 3.1%[25] - The company’s operating profit for Q1 2023 was RMB 10,750,951 thousand, an increase from RMB 10,202,836 thousand in Q1 2022, showing a growth of approximately 5.4%[23] Assets and Liabilities - The total assets at the end of the reporting period amounted to RMB 1,656,062,603, up 2.66% from the previous year[3] - Current assets totaled RMB 917,317.12 million, an increase from RMB 898,565.84 million at the end of 2022[20] - Non-current assets amounted to RMB 738,745.48 million, up from RMB 714,600.00 million at the end of 2022[21] - Total liabilities increased to RMB 1,220,710.28 million from RMB 1,190,106.94 million at the end of 2022[22] - Shareholders' equity rose to RMB 435,352.32 million, compared to RMB 423,058.90 million at the end of 2022[22] - The total liabilities decreased to RMB 241,809,432 thousand as of March 31, 2023, from RMB 247,179,457 thousand as of December 31, 2022, reflecting a reduction of 2.18%[30] - The company's total equity increased to RMB 240,531,871 thousand as of March 31, 2023, compared to RMB 240,015,315 thousand as of December 31, 2022, showing a growth of 0.21%[30] Cash Flow - The cash flow from operating activities showed a net outflow of RMB 38,024,251, which is not applicable for year-on-year comparison[3] - The net cash flow from operating activities improved to RMB -38,024,251 thousand in Q1 2023, compared to RMB -49,399,086 thousand in Q1 2022, indicating a reduction in cash outflow by about 23%[27] - Cash flow from investing activities showed a net outflow of RMB -18,104,178 thousand in Q1 2023, slightly better than RMB -19,487,275 thousand in Q1 2022, reflecting a decrease in investment outflow of approximately 7.1%[28] - Total cash inflow from financing activities in Q1 2023 was RMB 36,071,174 thousand, down from RMB 52,938,609 thousand in Q1 2022, a decline of about 31.9%[28] - The net cash flow from financing activities for Q1 2023 was RMB 28,778,134 thousand, compared to RMB 39,729,796 thousand in Q1 2022, representing a decrease of approximately 27.6%[28] - The company's cash flow from operating activities showed a significant improvement, indicating better operational efficiency and cash management strategies[27] Contracts and Revenue Segments - Domestic new contracts amounted to RMB 627.36 billion, up 10.8% year-on-year, while overseas contracts reached RMB 40.02 billion, a 1.1% increase[14] - Infrastructure construction segment generated RMB 2,347.33 billion in revenue, with a year-on-year growth of 1.67%[17] - Equipment manufacturing segment saw a revenue increase of 12.53%, totaling RMB 72.65 billion[17] - Real estate development revenue decreased by 11.07%, amounting to RMB 78.78 billion[17] - The company signed RMB 5,060.3 billion in engineering construction contracts, which is a 21.8% increase year-on-year[14] - The real estate development contracts saw a significant increase of 137.8%, totaling RMB 170.5 billion[14] - The company’s asset management contracts decreased by 42.3%, amounting to RMB 402.9 billion[14] Operational Efficiency and Future Plans - The company continues to focus on high-quality development amidst a complex international environment and domestic demand constraints[12] - The company plans to continue expanding its market presence and invest in new technologies and products[18] - The company is exploring market expansion opportunities, although specific new products or technologies were not detailed in the provided documents[31] Other Financial Metrics - The weighted average return on net assets was 2.92%, indicating a change in percentage points compared to the previous year[3] - Cash and cash equivalents decreased by 17.91% due to concentrated payments before the Spring Festival and delayed collections from project owners[5] - Accounts receivable increased by 21.24% driven by normal business growth and delayed payments from project owners[5] - Short-term borrowings rose by 14.11% primarily to meet liquidity needs[5] - Research and development expenses for Q1 2023 were RMB 1,037 thousand, significantly lower than RMB 9,637 thousand in Q1 2022, indicating a decrease of 89.25%[31] - The financial expenses for Q1 2023 amounted to RMB 848,115 thousand, an increase of 10.77% from RMB 765,681 thousand in Q1 2022[31]