TGWC(SH:600116)2023-04-25 16:00Revenue and Profitability - Total operating revenue for Q1 2023 was approximately CNY 2.94 billion, an increase of 28% compared to CNY 2.30 billion in Q1 2022[16] - Net profit for Q1 2023 was a loss of approximately CNY 49.67 million, compared to a profit of CNY 3.27 million in Q1 2022, indicating a decline in profitability[16] - The net profit attributable to shareholders for Q1 2023 was -¥38,401,837.35, compared to a profit of ¥9,859,074.11 in Q1 2022[25] - The net profit attributable to shareholders decreased by 489.51% compared to the same period last year, primarily due to a reduction in self-generated hydropower generation by 313 million kWh and an increase in the average purchase price of electricity[60] - Basic earnings per share dropped by 300.00% year-on-year, reflecting the same factors affecting net profit[60] Operating Costs and Expenses - Total operating costs for Q1 2023 were approximately CNY 3.00 billion, up from CNY 2.15 billion in Q1 2022, reflecting a significant increase in operating expenses[16] - The company reported a significant increase in financial expenses, totaling approximately CNY 61.26 million in Q1 2023, compared to CNY 44.75 million in Q1 2022[16] - The company incurred tax expenses of approximately CNY 11.32 million in Q1 2023, compared to a tax benefit of approximately CNY 9.24 million in Q1 2022[16] - Management expenses for Q1 2023 were CNY 15,365,602.16, an increase of 4.4% from CNY 14,716,110.50 in Q1 2022[81] Cash Flow and Liquidity - The company's net cash flow from investing activities was -¥187,096,574.21, a decrease from -¥762,147,885.85 year-over-year[18] - The company's cash flow from operating activities was not detailed, but the overall cash and cash equivalents increased, suggesting improved liquidity[18] - The cash inflow from operating activities totaled 1,619,937,674.48 RMB, down from 1,927,166,451.81 RMB in the previous year[29] - The company reported a net cash inflow from financing activities of ¥726,924,033.04, a significant increase from ¥91,933,634.10 in the previous year[18] - The company reported a net cash decrease of CNY 59,169,647.20 in Q1 2023, compared to an increase of CNY 19,771,824.58 in Q1 2022[82] Assets and Liabilities - Total liabilities increased to ¥5,342,090,733.12 from ¥5,169,157,415.00, reflecting a growth of approximately 3.34%[19] - The total current liabilities increased to ¥2,385,175,359.25 from ¥2,154,597,850.04, indicating a rise of approximately 10.69%[19] - The total assets at the end of Q1 2023 were 22,494,562,704.80 RMB, reflecting a 2.90% increase from 21,860,417,031.02 RMB at the end of the previous year[35] - The total liabilities of the company reached CNY 11,228,598,320.56 as of March 31, 2023, compared to CNY 10,564,281,972.73 at the end of 2022, indicating an increase of about 6.3%[46] Investment Performance - Investment income for Q1 2023 showed a loss of approximately CNY 11.18 million, contrasting with a profit of CNY 33.57 million in Q1 2022, highlighting challenges in investment performance[16] - The company incurred a loss of CNY 1,833,657.65 from investments in joint ventures and associates in Q1 2023, contrasting with a profit of CNY 1,322,987.66 in Q1 2022[81] Market Conditions and Fair Value - The company recognized a fair value change gain of approximately CNY 10.19 million in Q1 2023, compared to a loss of approximately CNY 206.51 million in Q1 2022, indicating improved market conditions[16] - The weighted average return on equity decreased by 0.44 percentage points, influenced by a reduction in fair value losses on secondary market stocks[60] Guarantees and Risk Management - The company has released guarantees amounting to approximately CNY 69.56 million during the reporting period[11] - The company is actively managing risks associated with a contract dispute involving approximately CNY 20.60 million in receivables[12] - The company reported a guarantee balance of CNY 170,331.07 million, with no overdue guarantees as of the report date[41] - The company has provided guarantees to various subsidiaries, with the largest guarantee amounting to CNY 52,000.00 million for Chongqing Bolian Energy Development Co., Ltd.[42]