GDPD(SH:600795)2024-04-26 08:51Financial Performance - The company's operating revenue for Q1 2024 was approximately CNY 45.61 billion, a slight decrease of 0.13% compared to the same period last year[4] - Net profit attributable to shareholders increased by 88.62% year-on-year, reaching approximately CNY 1.78 billion[4] - The net profit after deducting non-recurring gains and losses rose by 89.80% year-on-year, amounting to approximately CNY 1.74 billion[4] - Basic earnings per share for Q1 2024 were CNY 0.100, an increase of 88.68% compared to the previous year[4] - The company's net profit attributable to shareholders increased to ¥24,168,993,701.06 in Q1 2024, compared to ¥22,384,343,215.39 in Q4 2023, showing an increase of 8.00%[16] - The net profit for Q1 2024 reached ¥3,456,313,903.57, a significant increase of 49% compared to ¥2,323,145,828.75 in Q1 2023[18] - The total comprehensive income for Q1 2024 was ¥3,542,219,998.97, compared to ¥2,389,841,576.42 in Q1 2023, indicating a year-over-year increase of 48%[19] - The company reported a total comprehensive income of 354,766,194.99, recovering from a loss of -605,013,445.97 in the previous year[28] Assets and Liabilities - The total assets at the end of the reporting period were approximately CNY 468.56 billion, reflecting a 2.33% increase from the end of the previous year[4] - As of March 31, 2024, the total current assets amounted to 61.30 billion RMB, an increase from 58.68 billion RMB at the end of December 2023, reflecting a growth of approximately 2.62 billion RMB[14] - Total assets reached ¥468,562,553,437.20 as of March 31, 2024, compared to ¥457,899,346,871.80 at the end of 2023, marking an increase of 2.89%[16] - Total liabilities amounted to ¥344,236,795,417.33, a slight increase from ¥338,472,615,384.65 at the end of 2023, reflecting a growth of 1.27%[16] - Total liabilities decreased to CNY 84.03 billion from CNY 81.38 billion, reflecting a reduction of 3.3%[26] Cash Flow - The net cash flow from operating activities decreased by 5.25% to approximately CNY 7.68 billion[4] - Cash flow from operating activities generated a net amount of ¥7,275,245,165.00, down from ¥7,678,227,202.17 in Q1 2023[21] - The company’s cash and cash equivalents at the end of Q1 2024 totaled ¥19,702,738,802.02, a decrease from ¥21,704,866,454.28 at the end of Q1 2023[22] - The company’s investment activities resulted in a net cash outflow of ¥10,796,073,086.27, compared to a net outflow of ¥7,082,063,566.96 in Q1 2023[21] - The financing activities generated a net cash inflow of ¥6,083,074,860.36, an increase from ¥4,613,363,471.66 in the previous year[22] - The net cash flow from financing activities was 2,951,473,751.26, compared to 791,395,657.53 in Q1 2023, indicating improved financing conditions[30] Shareholder Information - The company has a significant shareholder, State Energy Investment Group, holding 9.04 billion shares, which constitutes a substantial portion of the total shares[10] - The top ten shareholders collectively hold a significant number of shares, with the largest shareholder holding 9.04 billion shares, indicating strong institutional support[10] Investment and Expenses - The company experienced a significant increase in investment income from joint ventures, contributing to the rise in net profit[7] - Research and development expenses increased to ¥86,500,882.38 in Q1 2024, up 43.73% from ¥60,114,521.87 in Q1 2023[17] - Research and development expenses for Q1 2024 were CNY 501.93 thousand, down from CNY 1.27 million in Q1 2023, a decrease of 60.5%[27] Inventory and Receivables - The company has maintained a stable inventory level, with inventory reported at 5.01 billion RMB, slightly up from 4.98 billion RMB, indicating effective inventory management[14] - The company reported a decrease in receivables from 1.41 billion RMB to 948 million RMB, a decline of approximately 32.54%[14] - Accounts receivable increased to 23.33 billion RMB from 22.05 billion RMB, representing a rise of approximately 5.79%[14] - The company reported a decrease in inventory to CNY 102.43 million from CNY 134.93 million, a decline of 24%[25] Legal and Audit - The company did not conduct an audit for the Q1 financial statements[3] - The company is actively monitoring the impact of its subsidiaries on the overall financial performance, particularly in light of recent legal proceedings affecting Baode Shendong Power Co., Ltd.[12]