佛燃能源(002911) - 2024 Q1 - 季度财报

Financial Performance - The net income from long-term LNG contracts accounted for ¥38,763,218.43, indicating a stable business model and sustainable operational capabilities [4]. - The net profit attributable to the parent company was ¥80,294,538.41, compared to ¥77,891,132.31 in the previous period, reflecting a growth of approximately 3.2% [15]. - The comprehensive income total was ¥73,971,583.57, compared to ¥71,102,805.25 in the previous period, indicating an increase of approximately 3.9% [15]. - Operating revenue for the period was CNY 6.16 billion, representing a year-on-year growth of 37.47% [18]. - Net profit attributable to shareholders was CNY 80.29 million, a 3.09% increase from the previous year [18]. - The company's operating revenue for Q1 2024 was CNY 6,158,911,777.20, representing a 37.47% increase compared to CNY 4,480,094,967.45 in the same period last year [49]. - Net profit for Q1 2024 was RMB 74,962,796.32, representing a 5.2% increase compared to RMB 71,102,805.25 in Q1 2023 [60]. Assets and Liabilities - The total assets increased to ¥19,261,957,742.79 from ¥17,557,214,479.64, representing a growth of approximately 9.7% [12]. - Current assets rose to ¥7,141,822,254.79, up from ¥5,493,254,720.91, indicating an increase of about 30.1% [12]. - The total non-current assets slightly increased to ¥12,120,135,488.00 from ¥12,063,959,758.73, showing a growth of about 0.5% [12]. - The company's total assets reached CNY 19.26 billion, an increase of 9.71% compared to the beginning of the period [18]. - The company's short-term borrowings increased to ¥1,437,834,958.56 from ¥1,002,128,757.50, which is an increase of approximately 43.4% [12]. - The company's contract liabilities increased to CNY 1,492,237,122.27 from CNY 1,313,720,445.62, indicating growth in future revenue recognition [41]. Cash Flow - The cash flow from operating activities amounted to ¥7,218,769,557.23, a significant increase from ¥5,572,906,517.54, marking a rise of about 29.5% [15]. - The net cash flow from operating activities was CNY -523.98 million, a decline of 185.46% compared to the same period last year [18]. - The net cash flow from operating activities was CNY -523,984,115.27, a decrease of 185.46% compared to CNY 613,109,227.59 in the previous year, attributed to increased cash outflows for purchases and services [49]. - The net cash flow from financing activities was CNY 1.34 billion, an increase from CNY 632.37 million in the previous year [21]. - The company’s cash and cash equivalents at the end of the period totaled CNY 2.68 billion, up from CNY 2.37 billion at the end of the previous year [21]. Shareholder Information - The top ten shareholders include Foshan Investment Holding Group Co., Ltd. with 398,480,000 shares and Hong Kong and China Gas Investment Co., Ltd. with 365,500,000 shares [7]. - The total number of common shareholders is not disclosed, but the report includes detailed information on the top shareholders' holdings [6]. - The equity attributable to shareholders of the listed company increased by 25.22% to CNY 8,186,629,955.64 from CNY 6,537,703,469.70 year-on-year [50]. Operational Insights - The company reported a government subsidy amounting to ¥4,458,013.52, related to VAT refunds for pipeline transportation services, which is considered closely related to its normal business operations [4]. - The company emphasizes the importance of accurate and complete financial reporting, ensuring no misleading statements or omissions [1]. - The report indicates that the company is committed to maintaining a stable business team and management capabilities to support its operational strategies [4]. - The company's urban gas supply volume was 934 million cubic meters, up 3.18% year-on-year [35]. - Revenue from urban gas decreased by 4.43% to CNY 3.03 billion [35]. - Revenue from supply chain and other businesses surged by 139.28% to CNY 3.13 billion, with petrochemical product sales volume increasing by 241.74% to 420,000 tons [35]. Management and Governance - The company held its first temporary shareholders' meeting on January 12, 2024, to elect the sixth board of directors and supervisory committee, indicating a change in management structure [38]. - The company has not yet audited the Q1 report, which may affect the reliability of the financial data presented [45]. - The company aims to continue expanding its market presence and investing in new technologies and products in the upcoming quarters [60]. Research and Development - Research and development expenses increased to RMB 75,055,909.69, up 19.2% from RMB 62,991,996.53 in the previous year [60]. - The company has not disclosed any new product or technology developments in this report [8]. Financial Strategy - The company’s board approved a proposal to engage in commodity hedging activities to mitigate risks associated with price fluctuations [10]. - The company completed the repayment of the first phase of medium-term notes for 2021, totaling RMB 622,800,000.00 [55].