LIAONING PORT(SH:601880)2024-04-26 09:31Financial Performance - The company's operating revenue for Q1 2024 was approximately ¥2.89 billion, a slight increase of 0.44% compared to the same period last year[4] - The net profit attributable to shareholders decreased by 4.58% to approximately ¥371.92 million compared to the previous year[4] - The net profit after deducting non-recurring gains and losses was approximately ¥369.97 million, down 4.09% year-on-year[4] - The net cash flow from operating activities was approximately ¥197.77 million, a decrease of 33.65% compared to the previous year[5] - Total operating revenue for Q1 2024 was CNY 2,888,591,436.36, a slight increase from CNY 2,875,939,769.06 in Q1 2023, representing a growth of approximately 0.55%[23] - Total operating costs for Q1 2024 were CNY 2,380,520,757.89, compared to CNY 2,337,680,965.82 in Q1 2023, indicating an increase of about 1.83%[23] - The company reported a net profit of CNY 508,000,000 for Q1 2024, compared to CNY 500,000,000 in Q1 2023, representing a growth of 1.6%[23] - Net profit attributable to shareholders of the parent company for Q1 2024 was CNY 371,916,738.99, a decrease from CNY 389,748,998.94 in Q1 2023, representing a decline of approximately 4.3%[25] - Total comprehensive income for Q1 2024 was CNY 418,060,026.30, compared to CNY 426,215,182.33 in Q1 2023, indicating a decrease of about 1.3%[25] - The company’s total profit for Q1 2024 was CNY 567,332,157.39, down from CNY 579,397,596.35 in Q1 2023, reflecting a decrease of approximately 2.9%[24] Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥57.34 billion, an increase of 1.75% from the end of the previous year[5] - The equity attributable to shareholders increased by 0.99% to approximately ¥39.99 billion compared to the end of the previous year[5] - Cash and cash equivalents as of March 31, 2024, amounted to CNY 6,186,610,792.66, up from CNY 5,228,415,449.28 at the end of 2023, reflecting a growth of approximately 18.36%[19] - Accounts receivable increased to CNY 3,852,504,862.15 from CNY 3,304,178,653.31, marking a rise of about 16.58%[19] - Total assets as of March 31, 2024, were CNY 57,341,588,442.28, compared to CNY 56,352,939,728.84 at the end of 2023, showing an increase of approximately 1.75%[20] - Total liabilities reached CNY 14,172,917,294.83, up from CNY 13,623,749,088.14, indicating a growth of about 4.03%[22] - Non-current assets totaled CNY 45,726,717,405.20, a decrease from CNY 46,236,355,578.53, reflecting a decline of approximately 1.10%[20] Cash Flow and Expenses - The company reported a significant decrease in research and development expenses by 59.71% due to a reduction in R&D projects[10] - The company experienced a 700.68% increase in net cash flow from financing activities, primarily due to bond issuance and loan repayments[10] - Operating cash flow for Q1 2024 was CNY 197,770,536.48, down from CNY 298,088,028.52 in Q1 2023, reflecting a decline of approximately 33.6%[26] - Financial expenses in Q1 2024 were CNY 95,553,144.23, a decrease from CNY 114,563,893.56 in Q1 2023, representing a decline of approximately 16.6%[24] - The company reported a net cash outflow from investing activities of CNY 29,041,573.14 in Q1 2024, compared to a net outflow of CNY 111,543,038.91 in Q1 2023, indicating an improvement in cash flow management[27] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 240,322, with the largest shareholder, Yingkou Port Group Co., Ltd., holding 28.83% of shares[12] - The company’s major shareholders include state-owned entities, with Yingkou Port Group Co., Ltd. being the controlling shareholder[13] Operational Highlights - Container throughput reached 255.8 million TEU, an increase of 11.1% compared to 230.3 million TEU in the same period last year[16] - The volume of bulk cargo increased by 2.6%, totaling 4,557.5 million tons, compared to 4,442.3 million tons in the previous year[16] - The company reported a decrease in passenger roll-on/roll-off traffic by 20.3%, with 55.0 million passengers compared to 69.0 million in the same period last year[16] - The total oil and chemical throughput was stable at 1,252.9 million tons, slightly down by 0.8% from 1,262.8 million tons[16] - The company experienced a decline in the volume of passenger vehicles handled, down 3.9% to 17.4 million vehicles[17] - The company has seen a significant increase in domestic container traffic due to ongoing economic recovery and enhanced intermodal services[16] - The company is focusing on expanding its international shipping routes and enhancing its logistics capabilities to drive growth[16] Future Outlook and Strategic Plans - The company plans to expand its market presence and invest in new technologies to enhance operational efficiency in the upcoming quarters[23] - The company is focusing on improving its inventory management, with current inventory valued at CNY 128,599,301.54, down from CNY 133,306,714.38, indicating a reduction of about 3.67%[19] Regulatory and Reporting Information - The financial statements for the first quarter of 2024 are unaudited, with the balance sheet prepared as of March 31, 2024[18] - The financial report is announced by the board of directors of Liaoning Port Co., Ltd. on April 26, 2024[28] - The report includes a summary of performance, user data, future outlook, and performance guidance[28] - The company will implement new accounting standards starting in 2024, which will affect the financial statements from the beginning of the year[28] - The report indicates that the company is not applicable for the new accounting standards adjustments[28] - The financial report is overseen by key personnel including Wang Zhixian, Tang Ming, and Wang Jinsong[28] - The document is structured to comply with regulatory requirements for financial disclosures[28] - The report does not provide specific numerical data or percentage changes in performance metrics[28] - The company emphasizes the importance of accurate information in its financial reporting[28]