POWERCHINA Ltd(SH:601669)2023-04-27 16:00Financial Performance - The company's operating revenue for Q1 2023 was RMB 133.29 billion, representing a year-on-year increase of 0.65% compared to RMB 132.43 billion in the same period last year[1]. - The net profit attributable to shareholders for Q1 2023 was RMB 3.02 billion, an increase of 8.70% from RMB 2.78 billion in the previous year[1]. - The net profit after deducting non-recurring gains and losses was RMB 2.98 billion, showing a significant increase of 22.49% compared to RMB 2.43 billion in the same period last year[5]. - Basic and diluted earnings per share for Q1 2023 were both RMB 0.1705, down 5.85% from RMB 0.1811 in the same period last year[7]. - The company's operating profit for Q1 2023 was CNY 4.74 billion, compared to CNY 4.58 billion in Q1 2022, representing an increase of 3.58%[36]. - The total comprehensive income attributable to the parent company was CNY 2,697,693,430.31, an increase from CNY 2,600,844,383.75 in the previous year[43]. - Net profit for Q1 2023 reached CNY 3.88 billion, compared to CNY 3.87 billion in Q1 2022, indicating a marginal increase of 0.05%[38]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at RMB -32.96 billion, a decline of 81.30% compared to RMB -18.58 billion in the previous year[6]. - Cash flow from operating activities showed a net outflow of CNY 25.76 billion in Q1 2023, worsening from a net outflow of CNY 14.46 billion in Q1 2022[70]. - Cash and cash equivalents at the end of Q1 2023 stood at CNY 19.20 billion, down from CNY 27.68 billion at the beginning of the quarter[70]. - The company's cash and cash equivalents rose to CNY 109.79 billion, up from CNY 100.95 billion at the end of 2022, an increase of 8.14%[26]. - Cash inflow from financing activities was CNY 58,004,471,758.49, compared to CNY 34,715,921,223.37 in the previous year[52]. - The company reported a net cash outflow from investment activities of CNY -14,622,828,249.51, compared to CNY -13,186,258,051.02 in the previous year[52]. Assets and Liabilities - Total assets at the end of Q1 2023 were RMB 1,106.63 billion, reflecting a year-on-year increase of 6.40%[9]. - Total liabilities increased to CNY 860.63 billion as of March 31, 2023, from CNY 799.73 billion at the end of 2022, marking a rise of 7.61%[34]. - The company's total assets as of March 31, 2023, amounted to CNY 1,106.63 billion, up from CNY 1,040.08 billion at the end of 2022, reflecting a growth of 6.36%[25]. - The company's long-term borrowings increased to CNY 310.77 billion from CNY 285.85 billion, reflecting a growth of 8.71%[34]. - Total equity attributable to shareholders reached CNY 156.66 billion, up from CNY 151.86 billion at the end of 2022, indicating a growth of 3.73%[34]. - Total liabilities decreased to CNY 92,668,583,423.21 from CNY 100,939,792,721.33[61]. Shareholder Information - Shareholders' equity attributable to shareholders was RMB 156.66 billion, an increase of 3.15% from RMB 151.86 billion at the end of the previous year[10]. - The number of ordinary shareholders at the end of the reporting period was 308,513[14]. - Total equity increased to CNY 93.60 billion in Q1 2023, up from CNY 91.92 billion in Q1 2022, representing a growth of 1.83%[66]. Expenses and Investments - Research and development expenses for Q1 2023 were CNY 2.91 billion, compared to CNY 2.81 billion in Q1 2022, showing an increase of 3.56%[36]. - The financial expenses for Q1 2023 were CNY 3.60 billion, significantly higher than CNY 1.72 billion in Q1 2022, an increase of 109.36%[36]. - The company’s investment income from joint ventures and associates was a loss of CNY 20.76 million in Q1 2023, compared to a loss of CNY 23.12 million in Q1 2022[66]. Future Outlook - The company plans to continue focusing on cost management and operational efficiency to improve financial performance in the upcoming quarters[71].