东方电缆(603606) - 2024 Q1 - 季度财报

Financial Performance - Revenue for the first quarter was 1.31 billion yuan, a decrease of 8.86% year-over-year[4] - Net profit attributable to shareholders was 263.36 million yuan, an increase of 2.95% year-over-year[4] - Basic earnings per share were 0.38 yuan, an increase of 2.70% year-over-year[4] - Total operating revenue for Q1 2024 was 1,310,474,328.30 RMB, a decrease of 8.86% compared to 1,437,884,633.02 RMB in Q1 2023[16] - Operating profit for Q1 2024 was 306,578,074.85 RMB, an increase of 3.42% compared to 296,445,551.41 RMB in Q1 2023[17] - Net profit for Q1 2024 was 263,358,240.98 RMB, an increase of 2.95% compared to 255,806,690.80 RMB in Q1 2023[17] - Total comprehensive income for Q1 2024 was 296,490,643.23 RMB, an increase of 2.18% compared to 290,161,165.56 RMB in Q1 2023[18] - Basic earnings per share for Q1 2024 were 0.38 RMB, an increase of 2.70% compared to 0.37 RMB in Q1 2023[18] Business Segments and Revenue Breakdown - The company's main business revenue was 1.308 billion yuan, a decrease of 8.92% year-over-year, with land cable systems contributing 738 million yuan, sea cable systems 381 million yuan, and marine engineering 189 million yuan[10] Assets and Liabilities - Total assets increased by 4.70% to 11.14 billion yuan compared to the end of the previous year[5] - The company's total assets increased to RMB 11.139 billion as of March 31, 2024, from RMB 10.640 billion at the end of 2023[13] - Total liabilities increased to RMB 4.860 billion as of March 31, 2024, from RMB 4.349 billion at the end of 2023[14] - The company's total equity decreased slightly to RMB 6.280 billion as of March 31, 2024, from RMB 6.291 billion at the end of 2023[15] Cash Flow and Liquidity - Operating cash flow was 3.07 million yuan, with no comparable data from the previous year[4] - Net cash flow from operating activities increased to RMB 3,066,560.90, compared to a negative RMB 327,470,142.65 in the previous period[20] - Net cash flow from investing activities was negative RMB 174,957,868.38, an improvement from the previous negative RMB 235,404,369.78[20] - Net cash flow from financing activities was positive RMB 243,029,503.31, a significant improvement from the previous negative RMB 109,791,526.66[20] - Cash and cash equivalents increased by RMB 67,423,996.82, compared to a decrease of RMB 675,402,353.42 in the previous period[21] - Ending cash and cash equivalents balance was RMB 2,080,203,739.67, up from RMB 1,307,050,648.74 in the previous period[21] - Cash received from sales of goods and services in Q1 2024 was 1,506,291,737.52 RMB, an increase of 75.44% compared to 858,687,792.80 RMB in Q1 2023[19] - Cash outflow for purchasing goods and services in Q1 2024 was 1,217,340,352.67 RMB, an increase of 10.43% compared to 1,102,419,791.34 RMB in Q1 2023[19] - Cash paid for employee benefits increased to RMB 92,279,260.93 from RMB 70,480,042.05[20] - Cash paid for taxes increased to RMB 62,700,816.98 from RMB 59,158,339.55[20] - Cash paid for other operating activities increased to RMB 175,527,029.05 from RMB 120,958,693.05[20] - Cash received from disposal of fixed assets, intangible assets, and other long-term assets was RMB 69,868,840.00[20] - Cash paid for the acquisition of fixed assets, intangible assets, and other long-term assets decreased to RMB 153,555,367.55 from RMB 221,138,869.78[20] Shareholder Information - The company's largest shareholder, Ningbo Orient Group, holds 31.63% of the shares[8] - The number of ordinary shareholders at the end of the reporting period was 53,222[8] Non-Recurring Items and Other Income - Non-recurring gains and losses amounted to 70.10 million yuan, including gains from the disposal of non-current assets and government subsidies[6] - Other income for Q1 2024 was 28,380,694.21 RMB, a significant increase compared to 3,314,366.01 RMB in Q1 2023[16] - Financial expenses for Q1 2024 were -5,226,806.46 RMB, a significant improvement compared to 4,730,630.70 RMB in Q1 2023[16] Research and Development - R&D expenses for Q1 2024 were 50,408,333.29 RMB, an increase of 5.52% compared to 47,772,846.18 RMB in Q1 2023[16] Order Backlog and Contracts - The company secured contracts worth approximately RMB 5 billion in the Southern Power Grid's 2023 main and distribution network material framework bidding project, RMB 900 million in rail transit cables, and RMB 1.7 billion in land cable systems[11] - The company won bids for the Huaneng Yuhuan 2 offshore wind power project EPC contract worth RMB 328 million and the CGN Yantai Zhaoyuan 400MW offshore photovoltaic project worth RMB 89 million[11] - As of April 25, 2024, the company's total order backlog was RMB 7.137 billion, with RMB 2.58 billion in submarine cable systems, RMB 3.682 billion in land cable systems, and RMB 875 million in marine engineering[11] - Submarine cables and umbilical cables of 220 kV and above accounted for nearly 30% of the total order backlog[11] Monetary Funds and Receivables - The company's monetary funds increased to RMB 2.233 billion as of March 31, 2024, compared to RMB 2.142 billion at the end of 2023[12] - Trade receivables increased to RMB 2.727 billion as of March 31, 2024, from RMB 2.684 billion at the end of 2023[12] Return on Equity - The company's weighted average return on equity decreased by 0.45 percentage points to 4.10%[4]