SCIE(SH:600546)2024-04-26 11:25Financial Performance - The company's operating revenue for Q1 2024 was CNY 6,355,858,003.39, a decrease of 40.31% compared to CNY 10,648,152,708.39 in the same period last year[4]. - Net profit attributable to shareholders was CNY 583,216,922.91, down 65.81% from CNY 1,686,163,291.98 year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 602,908,012.46, a decline of 65.44% compared to CNY 1,724,561,434.26 in the previous year[4]. - Basic and diluted earnings per share were both CNY 0.29, representing a decrease of 66.28% from CNY 0.85 in the same period last year[5]. - Net profit for Q1 2024 was CNY 855,668,527.61, a decline of 69.0% from CNY 2,765,699,141.30 in Q1 2023[20]. - Earnings per share for Q1 2024 was CNY 0.29, compared to CNY 0.86 in Q1 2023, reflecting a decrease of 66.9%[20]. - Tax expenses for Q1 2024 were CNY 342,214,736.05, a decrease of 65.3% compared to CNY 988,678,503.15 in Q1 2023[20]. Cash Flow and Liquidity - The net cash flow from operating activities was CNY 545,332.86, a significant drop of 99.95% compared to CNY 1,264,090,834.04 in the previous year[5]. - In Q1 2024, the company reported cash inflows from operating activities of approximately CNY 7.44 billion, a decrease of 33.4% compared to CNY 11.16 billion in Q1 2023[21]. - The net cash flow from operating activities was CNY 545.33 thousand, significantly down from CNY 1.20 billion in the same period last year[21]. - Cash and cash equivalents at the end of Q1 2024 totaled CNY 6.45 billion, down from CNY 9.98 billion at the end of Q1 2023, reflecting a decrease of 35.4%[22]. - The company experienced a net cash inflow from financing activities of CNY 3.12 billion, a substantial increase from CNY 127.53 million in Q1 2023[22]. - Cash outflows for purchasing goods and services amounted to CNY 4.56 billion, down from CNY 5.66 billion in Q1 2023, indicating a reduction of 19.5%[21]. - The cash received from tax refunds was CNY 291.68 thousand, a decrease of 56.0% from CNY 660.77 thousand in the previous year[21]. - The total cash outflow for financing activities was CNY 267.36 million, up from CNY 112.27 million in Q1 2023, indicating an increase of 138.0%[22]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 43,455,410,500.98, an increase of 6.99% from CNY 40,617,227,413.35 at the end of the previous year[5]. - Current liabilities decreased to RMB 10.97 billion from RMB 12.51 billion, a reduction of approximately 12.2%[16]. - Long-term borrowings surged to RMB 8.08 billion, up from RMB 4.65 billion, reflecting an increase of about 73.5%[16]. - The total liabilities decreased to RMB 11.49 billion from RMB 12.51 billion, a decline of about 8.2%[16]. - The total liabilities increased to CNY 21,989,779,915.57 in Q1 2024 from CNY 20,085,327,228.81 in Q1 2023, representing an increase of 9.5%[19]. - The company reported a total equity of RMB 32.49 billion as of March 31, 2024, compared to RMB 28.11 billion at the end of 2023, indicating a growth of approximately 15.5%[16]. - Total equity attributable to shareholders rose to CNY 16,316,612,135.10 in Q1 2024 from CNY 15,678,004,049.06 in Q1 2023, an increase of 4.1%[19]. Operational Changes and Market Conditions - The decline in revenue and profit was primarily due to a drop in coal market prices and a decrease in self-produced coal sales volume[8]. - The company completed the acquisition of 100% equity in a subsidiary, enhancing its operational capacity in the coal industry[5]. - The company expanded its financing scale, resulting in a significant increase in long-term borrowings by 73.71%[8]. - There are no new product launches or technological advancements mentioned in the report for the first quarter of 2024[13]. - The company has not reported any significant changes in shareholder structure or major new strategies during the reporting period[13]. Research and Development - Research and development expenses increased to CNY 65,586,794.72 in Q1 2024, up 88.0% from CNY 34,887,602.18 in Q1 2023[19].