XREC(SZ:000598)2024-04-25 12:25Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,845,886,300.26, representing a 16.70% increase compared to CNY 1,581,689,623.38 in the same period last year[3]. - Net profit attributable to shareholders for Q1 2024 was CNY 456,731,468.38, up 20.55% from CNY 378,860,193.62 year-on-year[3]. - The net profit for Q1 2024 was CNY 468,485,822.27, an increase of 20.5% compared to CNY 388,657,431.54 in Q1 2023[22]. - The operating profit for Q1 2024 reached CNY 541,357,515.70, up from CNY 446,600,250.45 in the same period last year, reflecting a growth of 21.2%[22]. - The total comprehensive income attributable to the parent company was CNY 456,731,468.38, compared to CNY 378,860,193.62 in Q1 2023, marking an increase of 20.6%[22]. - Total revenue from operating activities was CNY 1,944,931,699.93, compared to CNY 1,786,960,871.61 in Q1 2023, indicating an increase of 8.8%[24]. Cash Flow and Liquidity - The net cash flow from operating activities improved significantly to CNY 18,358,662.75, a 126.04% increase from a negative CNY 70,507,800.99 in the previous year[9]. - The cash flow from operating activities showed a net inflow of CNY 18,358,662.75, a significant recovery from a net outflow of CNY -70,507,800.99 in the previous year[24]. - The cash and cash equivalents net increase for Q1 2024 was CNY 1,514,663,015.43, a 291.08% improvement from a decrease of CNY 792,691,821.43 in the previous year[10]. - The company reported a cash and cash equivalents balance of CNY 5,387,376,044.69 at the end of Q1 2024, up from CNY 2,898,427,234.93 at the end of Q1 2023[25]. - The net cash flow from financing activities was CNY 2,828,024,585.46, a substantial increase from CNY 342,141,658.09 in the same quarter last year[25]. Assets and Shareholder Information - The total assets at the end of Q1 2024 reached CNY 46,116,266,920.28, reflecting a 5.88% increase from CNY 43,555,025,093.36 at the end of the previous year[3]. - The total current assets increased to ¥9,571,152,322.77 from ¥7,722,798,430.09, reflecting a growth of approximately 24%[18]. - The total equity attributable to shareholders of the parent company reached ¥17,104,750,425.40, up from ¥16,643,592,400.55, reflecting a growth of 2.8%[20]. - The total number of common shareholders at the end of the reporting period is 76,028, with the largest shareholder, Chengdu Environmental Investment Group Co., Ltd., holding 42.20% of shares[11]. - The company reported a total of 1,259,605,494 shares held by its largest shareholder, Chengdu Environmental Investment Group Co., Ltd.[13]. - The second-largest shareholder, Three Gorges Capital Holdings Co., Ltd., holds 12.24% of shares, amounting to 365,295,705 shares[13]. Research and Development - Research and development expenses surged by 266.18% to CNY 4,097,484.15, primarily due to increased costs related to waste disposal and resource utilization projects[8]. - Research and development expenses increased significantly to ¥4,097,484.15, compared to ¥1,118,991.41 in Q1 2023, marking a rise of 267.5%[21]. Future Outlook - Future outlook includes plans for market expansion and potential new product launches to drive further revenue growth[21]. - The company is focusing on enhancing its technological capabilities and investing in new projects to sustain competitive advantage in the industry[21].