长源电力(000966) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥1,218,047,657.28, a decrease of 40.58% compared to the same period last year[7]. - The net profit attributable to shareholders for Q1 2020 was ¥30,943,761.50, down 86.05% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥30,049,840.75, reflecting an 86.17% decline compared to the previous year[7]. - The basic earnings per share for Q1 2020 was ¥0.0279, a decrease of 86.06% from ¥0.2002 in the same quarter last year[7]. - The weighted average return on equity was 0.74%, down 5.59% from 6.33% in the previous year[7]. - Net profit for the period was ¥39,243,924.92, a decrease of 83.16% compared to the previous period, attributed to reduced electricity generation and operating revenue[21]. - Total operating revenue for Q1 2020 was ¥1,218,047,657.28, a decrease of 40.5% compared to ¥2,049,777,794.19 in Q1 2019[68]. - Net profit for Q1 2020 was ¥39,243,924.92, a decline of 83.2% from ¥233,023,204.55 in Q1 2019[73]. Assets and Liabilities - The total assets at the end of the reporting period were ¥9,694,053,961.23, a decrease of 0.51% from the end of the previous year[7]. - The total assets as of March 31, 2020, amounted to ¥5,401,714,401.85, an increase from ¥4,948,624,880.97 at the end of 2019[67]. - Total liabilities as of March 31, 2020, were CNY 5,236,110,650.44, a slight decrease from CNY 5,324,959,772.08 as of December 31, 2019, indicating a reduction of approximately 1.65%[57]. - Total liabilities increased to ¥2,381,735,213.27 as of March 31, 2020, compared to ¥1,897,110,188.99 at the end of 2019[67]. - The total liabilities amounted to 5,324,959,772.08 yuan, remaining stable compared to the previous period, indicating no significant changes in the company's debt structure[94]. Cash Flow - The company reported a net cash flow from operating activities of ¥314,709,939.13, down 6.21% from ¥335,554,567.41 in the same period last year[7]. - Cash inflow from operating activities totaled ¥1,546,827,359.87, compared to ¥2,442,304,475.34 in the previous period, reflecting a decline of approximately 36.6%[80]. - The net cash flow from operating activities was -440,649,867.34 yuan, a decrease from -142,602,016.83 yuan in the previous period, indicating a significant decline in operational cash generation[87]. - Cash and cash equivalents at the end of the period amounted to ¥289,145,098.94, an increase of 86.99% compared to the beginning of the period, primarily due to delayed payments caused by the pandemic[18]. - The total cash and cash equivalents at the end of the period were 10,978,388.18 yuan, down from 86,343,905.77 yuan at the end of the previous period, representing a decline of approximately 87.3%[89]. Shareholder Information - The top shareholder, State Energy Investment Group, holds 37.39% of the shares, totaling 414,441,332 shares[11]. - The company did not conduct any repurchase transactions among the top 10 shareholders during the reporting period[15]. - The company’s major shareholder, Hubei Energy Group, decided to terminate its share reduction plan, which involved 119,645,106 shares, accounting for 10.80% of the total share capital[34]. - The company has not engaged in any securities investments, entrusted financial management, or derivative investments during the reporting period[38][40][44]. Investment and Projects - The company plans to develop a 2×66 MW coal-fired power project in Suizhou, Hubei province, as part of its expansion strategy[27]. - The company awarded a project for the flue gas desulfurization of its 330MW unit to a related party, with a bid amount of CNY 22.5935 million[28]. - The company successfully issued CNY 500 million in corporate bonds and CNY 500 million in short-term financing notes during the reporting period[33]. - The company plans to issue a total of CNY 1 billion in corporate bonds and short-term financing notes, with approvals already obtained from regulatory authorities[33]. Legal and Financial Issues - The company is pursuing the recovery of CNY 250 million in principal and interest from its subsidiary, Henan Coal Industry, which has insufficient assets to cover its debts[29]. - The company has been actively coordinating with the court to expedite the bankruptcy proceedings for Henan Coal Industry, which was officially transferred to a bankruptcy administrator[29]. - The company has received a court ruling to terminate the execution process for two cases against Henan Coal Industry due to lack of recoverable assets[29]. Operational Metrics - The company completed a total electricity generation of 3.237 billion kWh during the period, a decrease of 40.7% year-on-year, with significant impacts from the pandemic[25]. - Cash received from sales of goods and services was ¥1,504,920,497.00, a decrease of 35.82% compared to the previous period, primarily due to reduced operating revenue[24]. - The company incurred financial expenses of ¥18,033,083.95, down from ¥19,363,761.14 in the previous period, representing a decrease of approximately 6.9%[76]. - The company reported a decrease in sales expenses, with management expenses at ¥19,830,151.38, down from ¥21,401,196.53 in the previous period, indicating cost control efforts[76].