GDEP(600310)2024-04-24 09:37Financial Performance - The company's operating revenue for Q1 2024 was ¥969.66 million, a decrease of 83.64% compared to ¥5,928.79 million in the same period last year[6]. - The net profit attributable to shareholders was -¥57.30 million, representing a decline of 271.52% from ¥33.41 million in the previous year[6]. - Basic and diluted earnings per share were both -¥0.0391, a decrease of 271.49% from ¥0.0228 in the previous year[7]. - The company reported a significant non-recurring loss of -¥62.63 million, primarily due to fair value changes in held stocks[10]. - The company experienced a 109.35% increase in net profit attributable to shareholders after deducting non-recurring losses, driven by increased hydropower generation and reduced electricity purchases[11]. - The weighted average return on net assets decreased by 2.97 percentage points, indicating a decline in profitability[11]. - The net profit for Q1 2024 was a loss of CNY 41,685,262.43, compared to a profit of CNY 70,295,082.48 in Q1 2023, marking a year-over-year decline of 159.2%[28]. - The company reported a gross profit margin of approximately 3.1% in Q1 2024, down from 12.0% in Q1 2023[27]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥254.60 million, compared to -¥397.14 million in the same period last year, marking a significant recovery[7]. - The company's cash flow from operating activities showed a significant decline, contributing to the overall net loss reported for the quarter[30]. - Total cash inflow from operating activities in Q1 2024 was ¥1,460,217,543.59, compared to ¥7,836,148,672.68 in Q1 2023, indicating a decrease of approximately 81.4%[33]. - Cash outflow from operating activities in Q1 2024 was ¥1,205,621,574.83, down from ¥8,230,672,716.00 in Q1 2023, reflecting a reduction of about 85.3%[33]. - The net cash flow from investing activities in Q1 2024 was -¥587,929,912.85, worsening from -¥73,309,596.60 in Q1 2023[34]. - Cash inflow from financing activities in Q1 2024 totaled ¥2,799,510,000.00, an increase of approximately 43.4% from ¥1,953,158,721.16 in Q1 2023[34]. - The net cash flow from financing activities improved to ¥595,274,902.30 in Q1 2024, compared to a slight outflow of -¥120,814.01 in Q1 2023[34]. Assets and Liabilities - Total assets increased to ¥19.32 billion, reflecting a growth of 4.93% from ¥18.41 billion at the end of the previous year[7]. - The equity attributable to shareholders decreased to ¥2.93 billion, down 1.78% from ¥2.98 billion at the end of the previous year[7]. - Total liabilities reached CNY 14,807,316,262.91 in Q1 2024, compared to CNY 13,878,752,183.92 in Q1 2023, indicating an increase of about 6.7%[24]. - The total assets as of Q1 2024 amounted to CNY 19,321,420,106.68, an increase from CNY 18,412,848,496.89 in the previous year, representing a growth of approximately 4.9%[24]. - The total liabilities decreased from CNY 9,636,664,403.18 in Q4 2023 to CNY 9,369,773,990.44 in Q1 2024, a reduction of approximately 2.8%[38]. - The company’s total equity decreased from CNY 2,788,748,808.62 in Q4 2023 to CNY 2,716,915,160.81 in Q1 2024, a decline of about 2.6%[38]. Operational Highlights - In Q1 2024, the company achieved a total electricity generation of 161,391.48 million kWh, an increase of 27.43% year-on-year[18]. - The total electricity sales volume reached 207,135.66 million kWh, reflecting an 11.04% year-on-year increase[18]. - The company’s hydroelectric power generation increased by approximately 35% year-on-year, totaling 817 million kWh[19]. - The net profit from electricity sales, excluding non-recurring gains and losses, was 72.90 million RMB, an increase of 1,149.38 million RMB year-on-year[18]. - The company emphasized cost reduction and efficiency improvement as key strategies impacting operational performance during the reporting period[18]. Research and Development - Research and development expenses increased to CNY 3,021,609.40 in Q1 2024, compared to CNY 1,421,519.61 in Q1 2023, reflecting a growth of 112.4%[28].