CSCEC(SH:601668)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 reached CNY 524.83 billion, an increase of 8.1% compared to CNY 485.44 billion in the same period last year[4] - Total profit for the quarter was CNY 22.58 billion, reflecting a growth of 5.6% from CNY 21.39 billion year-on-year[4] - Net profit attributable to shareholders was CNY 14.74 billion, up 14.1% from CNY 12.92 billion in the previous year[4] - The net profit excluding non-recurring gains and losses was CNY 14.58 billion, representing a significant increase of 27.6% compared to CNY 11.42 billion last year[4] - The basic earnings per share for the quarter was CNY 0.35, a 12.90% increase from CNY 0.31 in the same period last year[5] - Total comprehensive income for Q1 2023 reached CNY 18,325,649, up 8.4% from CNY 16,921,184 in the same period last year[22] Assets and Liabilities - The company's total assets at the end of the quarter were CNY 2.71 trillion, a 2.30% increase from CNY 2.65 trillion at the end of the previous year[5] - Total liabilities reached RMB 2,021,430,654 in Q1 2023, up from RMB 1,972,516,396 at the end of 2022, representing an increase of approximately 2.5%[19] - The debt-to-asset ratio at the end of the reporting period was 74.5%, indicating stable leverage[14] - The total equity decreased to CNY 142,275,391 thousand in Q1 2023 from CNY 146,220,500 thousand in Q1 2022, a decline of 2.0%[26] Cash Flow - The net cash flow from operating activities was negative CNY 65.42 billion, an improvement from negative CNY 122.48 billion in the same period last year[5] - Cash inflows from operating activities amounted to CNY 554,885,648, a rise of 7.7% from CNY 515,065,763 in Q1 2022[23] - The cash flow from operating activities showed a net outflow of CNY 1,919,576 thousand in Q1 2023, an improvement from a net outflow of CNY 2,933,458 thousand in Q1 2022[29] - The cash flow from financing activities showed a net inflow of CNY 2,810,019 thousand in Q1 2023, compared to a net inflow of CNY 1,727,303 thousand in Q1 2022, indicating improved financing activities[30] Revenue Growth and Contracts - The company attributed the revenue growth to strategic focus on key areas and expansion of high-quality projects[10] - The total new contract amount for the first quarter reached RMB 1,084.3 billion, a year-on-year increase of 20.9%[14] - The construction and engineering business signed new contracts worth RMB 723.8 billion, a year-on-year increase of 15.5%[15] - Infrastructure construction contracts amounted to RMB 243.8 billion, showing an 18.8% year-on-year growth[15] - Real estate development contracts surged to RMB 112.4 billion, marking an 82.8% increase year-on-year[15] - The overseas business signed new contracts worth RMB 17.1 billion, a 1.3% increase year-on-year, with revenue reaching RMB 21.2 billion, up 13.8%[16] Expenses and Management - Research and development expenses for Q1 2023 were RMB 6,444,187, an increase from RMB 5,889,664 in Q1 2022, reflecting a growth of approximately 9.4%[21] - The company reported a decrease in management expenses to RMB 7,981,847 in Q1 2023 from RMB 8,491,247 in Q1 2022, a reduction of about 6.0%[21] - The company incurred financial expenses of CNY 455,411 thousand in Q1 2023, significantly higher than CNY 161,382 thousand in Q1 2022[27] Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[22] - The company is enhancing cash flow management and improving budget mechanisms to strengthen cash flow control[10]