SDIC Power(SH:600886)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was CNY 11,042,015,519.58, representing a year-on-year increase of 20.10%[4] - The net profit attributable to shareholders of the listed company was CNY 1,037,552,666.55, showing a decrease of 14.91% compared to the same period last year[4] - The net cash flow from operating activities was CNY 3,662,802,272.40, down by 7.05% year-on-year[4] - The basic earnings per share for the period was CNY 0.1328, reflecting a decline of 19.81% compared to the previous year[5] - The company reported a net profit margin improvement, with net profit for Q1 2022 expected to reflect the operational efficiencies gained during the period[17] - Net profit decreased to ¥1,928,590,526.85 from ¥2,127,687,775.57, reflecting a decline of approximately 9.4% year-over-year[19] - Total profit decreased to ¥2,286,159,449.68 from ¥2,477,225,880.35, indicating a decline of around 7.7% compared to the same period last year[19] - Operating profit was reported at ¥2,259,937,833.08, down from ¥2,389,884,677.48, a decrease of approximately 5.4% year-over-year[19] - The total comprehensive income amounted to ¥1,956,708,355.46, compared to ¥2,264,192,524.42, indicating a decline of approximately 13.5% year-over-year[20] - The company reported a net profit of -78,441,804.37 RMB for Q1 2022, compared to a net profit of 65,918,690.47 RMB in Q1 2021, indicating a significant decline[29] - Operating profit for Q1 2022 was -78,482,389.53 RMB, a decrease from the operating profit of 65,493,995.68 RMB in the same period last year[29] - The total comprehensive income for Q1 2022 was -106,356,641.41 RMB, compared to 65,918,690.47 RMB in Q1 2021, reflecting a substantial drop[30] Assets and Liabilities - Total assets at the end of the reporting period amounted to CNY 242,782,345,567.86, an increase of 0.59% from the end of the previous year[5] - The total assets as of March 31, 2022, amounted to CNY 242,782,345,567.86, compared to CNY 241,369,525,069.05 at the end of 2021, showing a slight increase of 0.6%[16] - The total liabilities were CNY 152,772,112,276.63 as of March 31, 2022, down from CNY 153,309,349,357.79 at the end of 2021, reflecting a decrease of approximately 0.4%[15] - The total equity attributable to shareholders was CNY 52,479,070,012.23, an increase from CNY 51,455,999,238.26 in the previous year, representing a growth of about 2.0%[16] - Total current assets decreased to 3,886,394,433.41 RMB from 4,365,883,430.88 RMB, indicating a reduction in liquidity[26] - Non-current assets increased slightly to 45,160,865,520.17 RMB from 45,056,988,232.23 RMB, suggesting stable long-term investments[26] - Total assets decreased to 49,047,259,953.58 RMB from 49,422,871,663.11 RMB, reflecting a contraction in the overall asset base[26] - Total liabilities decreased to 3,318,682,170.27 RMB from 3,540,617,954.99 RMB, indicating a reduction in financial obligations[27] - The total equity decreased to 45,728,577,783.31 RMB from 45,882,253,708.12 RMB, showing a slight decline in shareholder value[27] Cash Flow - Cash inflow from operating activities totaled ¥10,709,655,842.02, compared to ¥9,943,229,103.14, an increase of about 7.7% year-over-year[20] - Cash outflow from operating activities was ¥7,046,853,569.62, up from ¥6,002,523,000.53, an increase of about 17.4% year-over-year[22] - The net cash flow from investing activities was -2,524,130,526.05 RMB, compared to -1,834,646,558.04 RMB in the previous year, indicating a decline in investment returns[23] - The total cash inflow from financing activities was 9,127,183,610.15 RMB, up from 6,232,926,502.05 RMB year-over-year, reflecting increased borrowing[23] - The net cash flow from financing activities improved to 774,413,502.91 RMB from -2,513,103,239.81 RMB, showing a positive shift in financing operations[23] - The company reported a cash increase of 1,900,229,618.81 RMB, contrasting with a decrease of -385,111,491.65 RMB in the previous year, highlighting improved cash management[23] - Cash flow from operating activities showed a net outflow of -72,948,351.05 RMB in Q1 2022, worsening from -42,136,449.93 RMB in Q1 2021[31] - Cash flow from investing activities resulted in a net outflow of -11,666,074.88 RMB in Q1 2022, compared to a net inflow of 711,375,306.17 RMB in Q1 2021[32] - Cash flow from financing activities also showed a net outflow of -286,770,211.82 RMB in Q1 2022, compared to -579,888,425.41 RMB in Q1 2021[32] - The company’s cash and cash equivalents decreased to 3,139,229,235.65 RMB at the end of Q1 2022, down from 4,184,637,114.80 RMB at the end of Q1 2021[32] Shareholder Information - The company had a total of 84,684 common shareholders at the end of the reporting period[10] - The largest shareholder, State Development Investment Corporation, held 51.32% of the shares[10] Expenses - The total operating costs for Q1 2022 were CNY 8,823,191,229.42, up from CNY 6,906,598,910.38 in Q1 2021, indicating an increase of about 27.8%[17] - Sales expenses increased to ¥9,112,316.19 from ¥6,942,816.23, representing a growth of approximately 31.4% year-over-year[19] - R&D expenses rose to ¥3,997,072.87, up from ¥2,530,755.93, marking an increase of about 57.8% compared to the previous year[19] - Management expenses increased to 49,556,992.47 RMB in Q1 2022 from 38,468,864.25 RMB in Q1 2021, indicating rising operational costs[29] - Financial expenses decreased to 18,717,414.70 RMB in Q1 2022 from 37,387,146.19 RMB in Q1 2021, showing a reduction in interest costs[29] Accounting Standards - The company did not apply the new accounting standards for the first time in 2022, indicating a potential impact on future financial reporting[33] Investment Income - Investment income saw a significant decline of 86.38% due to rising coal costs affecting the profitability of invested thermal power enterprises[7] Non-recurring Gains and Losses - Non-recurring gains and losses totaled CNY 47,845,992.04 for the period[6]