GED(SZ:200539)2023-04-21 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 13,046,268,148, representing a 14.55% increase compared to the same period last year[5]. - The net profit attributable to shareholders was CNY 88,429,494, a significant turnaround from a loss of CNY 449,739,596 in the previous year, marking a 119.71% increase[5]. - The net cash flow from operating activities improved to CNY 298,763,280, compared to a negative cash flow of CNY 620,286,887 in the same quarter last year, reflecting a 148.17% increase[5]. - The company reported a basic earnings per share of CNY 0.0168, a significant increase from a loss of CNY 0.0857 per share in the previous year[5]. - The company reported a total profit of CNY 134,995,133, compared to a loss of CNY 777,032,087 in the previous year[36]. - The company reported a comprehensive loss attributable to shareholders of the parent company of ¥117,960,484, an improvement from a loss of ¥524,506,882 in the same period last year[51]. Assets and Liabilities - The total assets at the end of the reporting period were CNY 137,453,664,746, which is a 4.43% increase from the end of the previous year[6]. - Non-current liabilities totaled ¥66,618,277,663, an increase of 9.9% from ¥60,778,111,796 in the previous period[41]. - Total liabilities reached ¥108,545,423,991, up 5.5% from ¥102,782,214,426 in the previous period[41]. - The company's total equity attributable to shareholders was CNY 20,270,163,855, a slight decrease of 0.39% from the previous year[6]. - The company's total equity increased to ¥28,908,240,755, compared to ¥28,841,588,275 in the previous period[41]. - The total current assets reached ¥30,553,661,906, up from ¥25,811,954,734, indicating a growth of about 18.5%[49]. - The total non-current assets increased to ¥106,900,002,840 from ¥105,811,847,967, marking a growth of approximately 1.0%[49]. Operational Efficiency - Cash inflows from operating activities totaled CNY 13,518,520,310, compared to CNY 12,969,181,182 in the previous year, showing an increase in operational efficiency[15]. - The company's gross profit margin for the quarter was 7.58%[36]. - The average on-grid electricity price for the company was CNY 584.94 per MWh, an increase of CNY 46.10 per MWh compared to the previous year[36]. - The company's inventory decreased to ¥2,913,280,010 from ¥3,376,868,100, a decline of about 13.7%[49]. Investments and Capital Management - The company plans to invest approximately ¥102,237 million in the expansion of the Shanwei Power Plant, with a total dynamic investment controlled at ¥786,437 million[47]. - The company has approved a capital reduction of up to ¥3,103 million for Guangdong Yuedian Bohe Energy Co., Ltd.[47]. - The company continues to benefit from the VAT refund policy, with an amount of ¥3,078,204 recognized[44]. Changes in Management and Accounting - The company has adopted new accounting standards effective January 1, 2023, impacting the reporting of deferred tax assets and liabilities[43]. - The company has appointed Zheng Yunpeng as the new chairman effective February 22, 2023[47]. Financial Expenses - The company incurred financial expenses of CNY 573,352,307, with interest expenses amounting to CNY 614,514,904[36]. - The net cash flow from financing activities was ¥6,571,783,140, significantly higher than ¥2,606,731,558 in the previous period, showing an increase of about 152.5%[52].