TEC(SH:600780)2024-04-24 08:07Financial Performance - The net profit attributable to shareholders of the listed company decreased by 43.82% compared to the same period last year[14]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 44.14% due to reduced gross margins in power generation and the impact of electricity pricing policies[14]. - Basic and diluted earnings per share both decreased by 43.80% compared to the previous year[14]. - The total comprehensive income for the first quarter of 2024 was CNY 133,087,891.20, a decrease of 44% compared to CNY 237,133,399.45 in the first quarter of 2023[23]. - Basic and diluted earnings per share for the first quarter of 2024 were CNY 0.1164, down from CNY 0.2071 in the same period last year, representing a decline of approximately 44%[23]. - Total revenue for the period was CNY 2,848,460,164.37, representing a decrease of 5.39% compared to the same period last year[47]. - Net profit attributable to shareholders was CNY 133,413,001.60, down 43.82% year-over-year[47]. - Net profit for the period was $133,087,891.20, compared to $237,133,399.45 in the previous period, indicating a decrease of approximately 44%[50]. - Operating profit decreased to $167,543,915.05 from $285,904,373.75, a decline of around 41.4%[50]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 44.00% year-on-year[14]. - Cash received from sales of goods and services in the first quarter of 2024 was CNY 3,239,047,646.03, a decrease of 4.1% from CNY 3,377,557,499.20 in the first quarter of 2023[23]. - The net cash flow from financing activities for the first quarter of 2024 was -CNY 34,278,003.63, an improvement compared to -CNY 56,276,229.93 in the first quarter of 2023[25]. - The ending balance of cash and cash equivalents as of March 31, 2024, was CNY 2,263,202,169.75, compared to CNY 2,226,889,734.08 at the end of the first quarter of 2023, showing a slight increase[25]. - Cash inflow from operating activities totaled CNY 3,243,917,743.61, compared to CNY 3,618,517,661.39 in the previous year[45]. - Cash outflow from operating activities was CNY 3,032,948,705.09, compared to CNY 3,241,765,663.74 in the previous year[45]. - The company reported a net cash flow from investment activities of CNY -129,260,162.24, compared to CNY -106,321,484.30 in the previous year[45]. Assets and Liabilities - The total liabilities of the company as of the end of the first quarter were RMB 2,692,942,871.13, down from RMB 2,869,694,645.15 at the end of the previous year[19]. - The company’s total assets amounted to RMB 10,152,288,830.36, slightly down from RMB 10,183,567,354.26 at the end of the previous year[19]. - The total current assets as of March 31, 2024, were CNY 3,347,983,296.01, a slight increase from CNY 3,329,737,387.99 at the end of the previous year[34]. - The company reported a decrease in accounts receivable to CNY 795,488,755.73 from CNY 876,168,094.14 year-over-year, indicating improved collection efficiency[34]. - Long-term equity investments increased to CNY 1,062,408,002.66 from CNY 1,022,189,809.11, reflecting a growth of approximately 3.9%[34]. - The total equity attributable to shareholders of the parent company increased to RMB 7,494,708,794.61 from RMB 7,348,910,434.09[19]. Government Support and Non-Recurring Items - Government subsidies recognized in the current period amounted to RMB 3,997,534.72[5]. - The company recorded a non-recurring loss of RMB 2,681,062.09 in other income and expenses[5]. - The company did not report any significant non-recurring gains or losses for the first quarter of 2024[28]. Operating Costs and Expenses - Total operating costs amounted to $2,725,190,542.53, down from $2,770,664,068.72, reflecting a reduction of about 1.6%[50]. - Research and development expenses increased to $385,824.00 from $203,246.00, showing a growth of approximately 89.5%[50]. - Investment income was reported at $39,281,519.87, down from $47,816,077.27, a decrease of about 17.5%[50]. - The company reported a tax expense of $31,340,103.42, compared to $46,437,629.32 in the previous period, a reduction of approximately 32.5%[50]. - Other income increased to $4,592,798.86 from $3,482,535.47, reflecting a growth of about 32%[50]. - The company’s financial expenses decreased to $3,375,274.24 from $4,107,035.44, a decline of approximately 17.8%[50].