Chongqing Water(601158)2024-04-26 09:31Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,519,947,433.67, representing a decrease of 8.56% compared to the same period last year[4]. - The net profit attributable to shareholders was CNY 183,912,500.86, down 35.80% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 139,614,682.27, a decline of 44.59% compared to the previous year[4]. - The net cash flow from operating activities was negative at CNY -95,374,504.86, a decrease of 116.01% year-on-year[4]. - Basic earnings per share were CNY 0.04, reflecting a decrease of 33.33% compared to the same period last year[5]. - The company reported a net profit margin of approximately 9.63% for Q1 2024, down from 10.00% in Q1 2023[20]. - The total comprehensive income for Q1 2024 was ¥249,145,176.67, down 18.5% from ¥305,901,003.61 in Q1 2023[23]. - The net profit for Q1 2024 was ¥186,440,298.55, a decrease of 35.4% compared to ¥288,343,375.98 in Q1 2023[22]. - Operating profit for Q1 2024 was ¥204,305,164.49, down 37.0% from ¥324,227,410.32 in Q1 2023[22]. - Total revenue from operating activities in Q1 2024 was ¥1,362,729,010.24, a decline of 36.4% compared to ¥2,143,126,541.71 in Q1 2023[24]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 33,931,946,628.29, an increase of 2.50% from the end of the previous year[5]. - Total assets increased to CNY 33,931,946,628.29 as of March 31, 2024, compared to CNY 33,103,999,908.95 at the end of December 2023[18]. - Total liabilities rose to CNY 16,594,679,147.12, up from CNY 16,023,651,099.43 in the previous quarter[18]. - Current assets decreased to CNY 5,648,528,338.46 from CNY 5,848,407,716.77, reflecting a decline of 3.42%[17]. - Shareholders' equity increased to CNY 17,337,267,481.17 from CNY 17,080,348,809.52, reflecting a growth of 1.51%[19]. - The company's long-term investments rose to CNY 2,617,555,887.02, compared to CNY 2,570,104,964.16 in the previous quarter, an increase of 1.84%[17]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 37,728[10]. - The largest shareholder, Chongqing Derun Environment Co., Ltd., holds 50.04% of the shares[10]. - The top ten shareholders hold a total of 3,343,500 shares, representing 0.07% of the company[12]. - The company reported a total of 2.4018 billion shares held by Chongqing Derun Environment Co., which is a related party[12]. - The company has a total of 6,683,700 shares held by Agricultural Bank of China, representing 0.14% of the company[12]. Investments and Acquisitions - The company completed the acquisition of seven water treatment plants for a total price of RMB 3.947 billion, with a 30-year operating license for wastewater treatment services[13]. - As of March 31, 2024, the company has paid RMB 2.504 billion for the acquisition and has completed the operational handover of the assets[13]. - The company has invested a total of RMB 1.147 billion into its wholly-owned subsidiary, Kunming Yurun Water Co., with RMB 500 million in registered capital and RMB 839 million in capital reserves[14]. - The company has completed the operational management of the Kunming No. 14 Water Purification Plant as of the reporting date[13]. Pricing and Revenue Adjustments - The company's net profit was significantly impacted by the adjustment in wastewater treatment service pricing, which reduced net profit by CNY 160 million[9]. - The newly approved wastewater treatment service fee is set at RMB 2.35 per cubic meter, down from RMB 2.98 per cubic meter[14]. Cash Flow and Expenses - The company's cash and cash equivalents decreased to CNY 2,382,576,552.27 from CNY 3,037,126,292.86, a decline of 21.56%[16]. - Research and development expenses were CNY 735,448.98, a decrease of 41.00% from CNY 1,245,706.73 in the same period last year[20]. - Inventory increased to CNY 516,769,399.43, up from CNY 500,780,134.98, indicating a growth of 3.96%[17]. - The company reported a decrease in interest expenses to ¥62,857,187.49 in Q1 2024 from ¥53,522,360.96 in Q1 2023[22]. - The total cash outflow from financing activities in Q1 2024 was ¥1,088,101,161.80, compared to ¥462,557,922.16 in Q1 2023[26]. Future Outlook and Standards - The company will implement new accounting standards starting from 2024, affecting the financial statements from the beginning of the year[28]. - The announcement was made by the board of directors on April 27, 2024[28]. - The report indicates that the new standards or interpretations will not apply to the current financial year[28]. - There are no specific performance metrics or user data provided in this document[28]. - Future outlook and performance guidance are not detailed in this report[28]. - No information on new products or technology development is included[28]. - Market expansion and acquisition strategies are not mentioned in this document[28]. - Other new strategies are not discussed in this report[28]. - The document consists of a formal announcement rather than detailed financial results[28]. - The report is part of the first quarter financial disclosures for 2024[28].