Xinjiang Tianfu Energy (SH:600509)2022-04-29 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 1,975,387,346.60, representing an increase of 28.85% compared to the same period last year[5]. - The net profit attributable to shareholders of the listed company was a loss of CNY 219,572,386.49, a decrease of 341.06% year-on-year[5]. - The basic and diluted earnings per share were both CNY -0.1907, a decrease of 341.09% year-on-year[5]. - Total operating revenue for Q1 2022 reached CNY 1,975,387,346.60, a 29% increase from CNY 1,533,129,166.25 in Q1 2021[32]. - Net profit for Q1 2022 was a loss of CNY 352,709,138.34, compared to a profit of CNY 105,938,356.30 in Q1 2021[34]. - Basic earnings per share for Q1 2022 was CNY -0.1907, down from CNY 0.0791 in Q1 2021[34]. - The company reported a decrease in undistributed profits to CNY 273,821,677.09 from CNY 493,394,063.58[28]. Cash Flow and Assets - The net cash flow from operating activities was a negative CNY 209,407,746.86, reflecting a decline of 192.94% compared to the previous year[5]. - As of March 31, 2022, the company's cash and cash equivalents amounted to CNY 1,334.47 million, a decrease from CNY 1,657.15 million as of December 31, 2021, representing a decline of approximately 19.5%[21]. - The total current assets decreased to CNY 4,383.75 million from CNY 4,489.77 million, indicating a decline of approximately 2.4%[25]. - Non-current assets totaled CNY 17,175.25 million, down from CNY 17,318.25 million, representing a decrease of about 0.8%[25]. - The company reported a total asset value of CNY 21,559.00 million, down from CNY 21,808.02 million, indicating a decrease of about 1.1%[25]. - The ending balance of cash and cash equivalents was $1,245,012,293.52, down from $1,810,459,100.50[43]. Liabilities and Equity - The total liabilities increased to CNY 15,451,031,110.06 in the latest report, compared to CNY 15,347,343,791.26 previously[28]. - The total equity attributable to shareholders decreased to CNY 5,680,586,235.30 from CNY 5,900,158,621.79[28]. - Long-term borrowings slightly increased to CNY 6,502,745,733.13 from CNY 6,484,805,539.20[28]. - Short-term borrowings increased to CNY 2,660.09 million from CNY 2,333.39 million, marking an increase of approximately 14%[25]. Operational Highlights - The increase in operating revenue was primarily due to a significant rise in electricity supply volume[9]. - The decrease in net profit was mainly attributed to a substantial increase in coal prices during the reporting period[9]. - The company aims to enhance its core competitiveness in the power business through the establishment of the new subsidiary, promoting energy conservation and emission reduction[16]. Investment and Financing Activities - The company established a wholly-owned subsidiary, Xinjiang Tianfu Green Energy Photovoltaic Co., Ltd., to invest in a 400,000 kW photovoltaic power generation project with a planned investment of CNY 1,953.19 million[16]. - The company plans to raise up to CNY 1.5 billion through a private placement of A-shares, with the funds allocated for the 1,000,000 kW photovoltaic base project[17]. - The private placement of A-shares is still subject to approval from the China Securities Regulatory Commission, with the timeline for approval remaining uncertain[19]. Financial Expenses - The company experienced a significant increase in financial expenses, totaling CNY 125,175,343.73 in Q1 2022, compared to CNY 120,970,778.31 in Q1 2021[32].