POWERCHINA Ltd(SH:601669)2022-04-28 16:00Financial Performance - The company's operating revenue for Q1 2022 was ¥128.60 billion, representing a 6.03% increase compared to ¥100.88 billion in the same period last year[4]. - Net profit attributable to shareholders was ¥2.76 billion, up 5.04% from ¥2.40 billion in the previous year[4]. - The basic earnings per share increased to ¥0.1801, reflecting a growth of 5.08% from ¥0.1562 in the same period last year[5]. - Total operating revenue for Q1 2022 was CNY 128.78 billion, an increase from CNY 121.43 billion in Q1 2021, representing a growth of approximately 5.5%[18]. - Net profit for Q1 2022 reached CNY 3.86 billion, compared to CNY 3.63 billion in Q1 2021, reflecting an increase of about 6.2%[19]. - The total comprehensive income attributable to the parent company was CNY 2,585,839,533.61, compared to CNY 2,677,132,502.78 in the previous period, reflecting a decrease of approximately 3.4%[20]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at ¥-18.58 billion, worsening by 14.35% compared to ¥-17.34 billion in the previous year[5]. - The net cash flow from operating activities was negative CNY 18,580,997,041.68, an improvement from negative CNY 21,694,977,325.04 in the previous year[22]. - Cash inflow from operating activities in Q1 2022 was CNY 25,829,706,966.56, significantly higher than CNY 11,555,380,482.87 in Q1 2021, showing an increase of approximately 123.5%[29]. - The cash flow from operating activities showed a significant increase in outflows, which may impact future liquidity if not addressed[31]. Assets and Liabilities - Total assets at the end of the reporting period were ¥957.14 billion, a decrease of 9.71% from ¥963.98 billion at the end of the previous year[5]. - The total assets of the company as of March 31, 2022, amounted to ¥957.14 billion, a decrease from ¥1,060.03 billion as of December 31, 2021, reflecting a decline of approximately 9.7%[14]. - Total liabilities decreased to ¥401.41 billion from ¥501.68 billion, indicating a reduction of about 20%[15]. - Total liabilities decreased to CNY 743.38 billion from CNY 803.22 billion, a reduction of approximately 7.4%[17]. - The total equity attributable to shareholders decreased to CNY 120.00 billion from CNY 140.35 billion, a drop of about 14.5%[17]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 437,620[10]. - The company has a major shareholder, China Power Construction Group Co., Ltd., holding 58.34% of the shares[12]. - The company has no significant related party transactions with other major shareholders, apart from the controlling stake held by China Power Construction Group Co., Ltd.[12]. Research and Development - Research and development expenses for Q1 2022 were CNY 2.74 billion, slightly up from CNY 2.69 billion in Q1 2021, showing an increase of about 1.1%[18]. - Research and development expenses increased to CNY 9,453,590.49 in Q1 2022 from CNY 3,142,449.79 in Q1 2021, representing a growth of about 201.5%[27]. Financial Expenses - The company reported a financial expense of CNY 1.67 billion, up from CNY 1.43 billion, indicating an increase of approximately 16.7%[18]. - Financial expenses rose to CNY 375,204,989.20 in Q1 2022, compared to CNY 164,493,740.27 in Q1 2021, marking an increase of approximately 128.5%[27]. - The company reported a significant increase in interest expenses, which reached CNY 590,446,096.03 in Q1 2022, compared to CNY 465,480,833.11 in Q1 2021, reflecting a rise of about 27%[27]. Asset Management - The company underwent an asset swap with its controlling shareholder to resolve competition issues, impacting the financial data presented[6]. - The company reported a significant drop in inventory from ¥129.11 billion to ¥21.90 billion, a decrease of approximately 83%[15]. - The long-term equity investments decreased from ¥38.01 billion to ¥27.07 billion, reflecting a decline of about 28.8%[15].