京能热力(002893) - 2020 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2020 was ¥581,980,692.45, representing a 3.35% increase compared to ¥563,107,016.62 in the same period last year[7] - Net profit attributable to shareholders was ¥123,528,356.46, up 9.59% from ¥112,715,689.10 year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥122,629,254.44, reflecting a 9.34% increase from ¥112,156,298.86 in the previous year[7] - Basic and diluted earnings per share decreased by 15.96% to ¥0.79 from ¥0.94 year-on-year[7] - Total operating revenue for Q1 2020 was CNY 581,980,692.45, an increase of 3.3% compared to CNY 563,107,016.62 in Q1 2019[33] - Net profit for Q1 2020 reached CNY 123,528,356.46, representing a 12.0% increase from CNY 109,730,202.59 in Q1 2019[35] - The company reported a total comprehensive income of CNY 123,528,356.46 for Q1 2020, compared to CNY 112,715,689.10 in Q1 2019, an increase of 9.4%[40] Cash Flow - The net cash flow from operating activities was -¥228,918,446.14, a decline of 10.66% compared to -¥206,867,978.13 in the same period last year[7] - Net cash flow from investing activities decreased by 110.06% year-over-year, mainly due to project deposit payments made during the reporting period[14] - Net cash flow from financing activities increased by 116.64% compared to the same period last year, as the company repaid a significant amount of short-term loans in the previous year[14] - The net cash flow from operating activities for Q1 2020 was -CNY 228,918,446.14, worsening from -CNY 206,867,978.13 in Q1 2019[43] - Investment activities generated a net cash outflow of -CNY 52,953,644.95 in Q1 2020, compared to -CNY 25,208,437.37 in the previous year[43] - The net cash flow from financing activities was 12,499,301.68 CNY, a recovery from -74,588,847.82 CNY in the previous period, showing improved financing conditions[47] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,877,572,963.17, down 6.81% from ¥2,014,852,191.88 at the end of the previous year[7] - The company's total assets decreased to CNY 1,879,229,006.68 as of March 31, 2020, down from CNY 2,009,743,654.42 at the end of 2019[30] - The company's total liabilities decreased to CNY 1,247,658,959.65, down from CNY 1,500,407,201.68 at the end of 2019[31] - The total liabilities amounted to 1,378,725,547.46 CNY, consistent with the previous period, reflecting stable financial obligations[50] Shareholder Equity - Net assets attributable to shareholders increased by 19.85% to ¥762,411,196.88 from ¥636,126,644.42 at the end of the previous year[7] - The company's equity attributable to shareholders rose to CNY 762,411,196.88, up from CNY 636,126,644.42 at the end of 2019, reflecting a growth of 19.8%[30] Expenses - Total operating costs for Q1 2020 were CNY 436,008,921.49, up from CNY 416,352,063.74 in the same period last year, reflecting a year-on-year increase of 4.0%[34] - Financial expenses rose by 94.72% year-over-year, attributed to increased interest expenses from the issuance of a specific asset-backed plan[14] - Research and development expenses increased by 104.24% compared to the same period last year, reflecting a significant increase in investment in R&D projects[14] - Financial expenses rose to CNY 10,822,288.18 in Q1 2020, up from CNY 5,169,263.71 in Q1 2019, indicating a significant increase of 109%[39] Inventory and Receivables - Accounts receivable increased by 48.69% from December 31, 2019, to March 31, 2020, mainly due to the recognition of fuel subsidies during the heating period, with the government not fully disbursing the funds[14] - Inventory decreased by 59.63% from December 31, 2019, to March 31, 2020, as the company reduced its natural gas reserves following the end of the 2019-2020 heating season[14] Taxation - Tax payable increased by 175.79% from December 31, 2019, to March 31, 2020, primarily due to the accrual of corporate income tax for the first quarter[14] - Deferred income tax liabilities rose by 46.64% from December 31, 2019, to March 31, 2020, due to temporary differences arising from recognized fuel subsidy income not yet received[14] Accounting Changes - The company implemented new revenue and leasing standards starting January 1, 2020, which may impact future financial reporting and performance metrics[51] - The company reported a significant adjustment in accounting practices due to the new revenue recognition standards effective from January 1, 2020, impacting the classification of advance payments[55] - The first quarter report for 2020 was not audited, indicating that the figures may be subject to change upon final audit[56]