Financial Performance - Operating revenue for the first quarter was RMB 66,279,365, a decrease of 17.60% compared to the same period last year[2] - Net profit attributable to shareholders was RMB 1,813,030, down 9.78% year-on-year[2] - Net profit excluding non-recurring gains and losses was RMB 1,609,633, showing a slight increase of 0.11%[2] - Basic and diluted earnings per share were both RMB 0.105, a decrease of 9.99% compared to the previous year[2] - The company reported a net profit attributable to shareholders of RMB 2,166,761 thousand for Q1 2023, compared to a net profit of RMB 4,728,253 thousand in Q1 2022[19] - Net profit for Q1 2023 was 2,901,155 thousand RMB, down 20.9% from 3,663,943 thousand RMB in Q1 2022[20] - Basic and diluted earnings per share for Q1 2023 were both 0.105 RMB, compared to 0.116 RMB in Q1 2022, reflecting a decrease of 9.5%[21] - Total comprehensive income for Q1 2023 was 1,148,107 thousand RMB, compared to 481,543 thousand RMB in Q1 2022, reflecting a growth of 138.8%[30] Cash Flow and Investments - Net cash flow from operating activities decreased by 61.28% to RMB 3,951,750[2] - The net cash flow from operating activities decreased by 61.28%, impacted by increased procurement payments and profit decline[7] - Cash flow from operating activities in Q1 2023 was 3,951,750 thousand RMB, a decline from 10,206,815 thousand RMB in Q1 2022[22] - Cash and cash equivalents as of March 31, 2023, were RMB 18,015,837 thousand, a decrease from RMB 19,259,933 thousand at the end of 2022[16] - The company raised 8,030,277 thousand RMB from borrowings in Q1 2023, compared to 2,056,734 thousand RMB in Q1 2022[23] - The company experienced a net cash outflow from financing activities of 2,877,647 thousand RMB in Q1 2023, compared to an outflow of 1,967,448 thousand RMB in Q1 2022[32] Assets and Liabilities - Total assets at the end of the reporting period were RMB 212,947,945, an increase of 0.28% from the end of the previous year[2] - The company's total liabilities decreased to RMB 122,128,704 thousand from RMB 124,592,064 thousand over the same period[17] - Total assets as of March 31, 2023, were 119,280,323 thousand RMB, a decrease from 125,587,206 thousand RMB at the end of 2022[25] - Total liabilities as of March 31, 2023, were 68,199,056 thousand RMB, down from 75,663,980 thousand RMB at the end of 2022[26] - The company's total equity increased to 51,081,266 thousand RMB as of March 31, 2023, from 49,923,226 thousand RMB at the end of 2022[27] Acquisitions and Integrations - The company plans to acquire a 19% stake in Yunnan Aluminum Co., Ltd. for approximately RMB 6.662 billion[4] - The company also intends to acquire 100% of Pingguo Aluminum Co., Ltd. for approximately RMB 1.887 billion[5] - The company has successfully integrated Yunnan Aluminum and Pingguo Aluminum into its consolidated financial statements following the acquisitions[4][5] Production and Operational Metrics - The production of alumina decreased by 10.13% to 3,980,000 tons compared to the same period last year[8] - The company’s coal production decreased by 5.59% to 2,700,000 tons compared to the same period last year[8] - The company’s electricity generation increased by 2.63% to 3,900,000,000 kWh compared to the same period last year[8] Other Financial Metrics - Non-recurring gains and losses totaled RMB 203,397,000, primarily from government subsidies and asset disposal gains[6] - Prepayments increased by 36.56%, mainly due to an increase in trade prepayments[7] - Other income surged by 318.20%, primarily due to increased government subsidies received this year[7] - The company reported a 70.13% increase in asset impairment losses, reflecting a reduction in impairment provisions compared to last year[7] - The company’s R&D expenses for Q1 2023 were RMB 459,852 thousand, slightly higher than RMB 418,798 thousand in Q1 2022[19] - Research and development expenses increased to 155,324 thousand RMB, up 113.3% from 72,683 thousand RMB in Q1 2022[28] - Investment income for Q1 2023 was 529,914 thousand RMB, down 37.7% from 850,507 thousand RMB in Q1 2022[28] - Operating profit for Q1 2023 was 1,146,393 thousand RMB, an increase of 107.2% from 551,665 thousand RMB in Q1 2022[28] - The company reported a decrease in sales expenses to 2,268 thousand RMB, down 83.6% from 13,008 thousand RMB in Q1 2022[28]
中国铝业(02600) - 2023 Q1 - 季度业绩