MJNY(SZ:000723)2024-04-26 16:14Financial Performance - The company's operating revenue for Q1 2024 was ¥4,193,039,451.62, a decrease of 21.45% compared to ¥5,337,877,122.84 in the same period last year[3]. - The net profit attributable to shareholders was -¥361,454,572.06, representing a decline of 189.83% from ¥402,374,559.59 year-on-year[3]. - The company reported a net loss of -¥428,356,195.10, a decrease of 203.35% compared to a profit of ¥414,469,914.72 in the previous year, attributed to falling prices in the coke and coal markets[6]. - The weighted average return on net assets was -2.44%, down from 2.74% in the same period last year, indicating a significant decline in profitability[3]. - The total profit for the period was -527,721,419, compared to a profit of 581,336,809 in the previous year, indicating a decline of approximately 191%[17]. - The basic earnings per share for Q1 2024 was -0.08, compared to 0.09 in Q1 2023, reflecting a negative shift in earnings performance[18]. - The total comprehensive income attributable to the parent company's owners was -361,454,572.06, compared to 402,374,559.59 in the previous year, marking a decline of approximately 189.8%[18]. Cash Flow and Liquidity - The net cash flow from operating activities improved to ¥139,153,138.98, a significant increase of 335.58% compared to -¥59,067,777.91 in the previous year[3]. - As of March 31, 2024, the company's cash and cash equivalents amounted to ¥5,202,395,826.88, a decrease from ¥6,149,237,602.57 at the beginning of the period, representing a decline of approximately 15.4%[14]. - The net cash received from other operating activities was 33,521,306.77, down from 76,731,503.90 in the same period last year, indicating a decline of approximately 56.3%[19]. - Total cash outflow from operating activities amounted to ¥3.82 billion, compared to ¥5.19 billion in the same period last year, indicating a reduction in cash outflows[20]. - The company reported a cash and cash equivalents balance of ¥1.34 billion at the end of Q1 2024, down from ¥1.56 billion at the end of Q1 2023[20]. - The company received ¥1.01 billion in cash from borrowings, compared to ¥690.30 million in the same quarter last year, reflecting a stronger financing position[20]. Assets and Liabilities - The total assets at the end of the reporting period were ¥42,178,700,117.34, a decrease of 0.79% from ¥42,512,543,896.03 at the end of the previous year[3]. - Non-current liabilities increased to CNY 8,392,155,374.00 from CNY 7,893,881,711.58, showing an increase of about 6.3%[16]. - The company's total liabilities reached CNY 25,774,032,141.65, up from CNY 25,594,653,452.11, an increase of about 0.7%[16]. - The total equity attributable to shareholders decreased by 2.98% to ¥14,533,213,832.00 from ¥14,980,171,332.82 at the end of the previous year[3]. Shareholder Information - Shanxi Meijin Energy Co., Ltd. reported a total shareholding of 1,646,121,586 shares held by Meijin Energy Group, representing a significant portion of the company's equity[9]. - The top 10 shareholders collectively hold 16,110,500 shares, accounting for 0.37% of the total share capital[10]. - The report indicates that the top 10 shareholders have not changed significantly compared to the previous period[11]. - The report does not indicate any related party transactions among the top shareholders, ensuring transparency in ownership[9]. Research and Development - Research and development expenses decreased by 40.92% to ¥15,116,723.64, primarily due to reduced investment in hydrogen and electric vehicle projects[6]. - Research and development expenses decreased to 15,116,724, down 41% from 25,587,085 in Q1 2023[17]. Financing Activities - Long-term borrowings increased by 35.54% to ¥2,074,063,453.43, reflecting new bank loans taken during the reporting period[6]. - Cash inflow from financing activities reached ¥1.16 billion, a substantial increase from ¥695.64 million in the previous year, driven by higher borrowings[20]. - The total cash outflow from financing activities was ¥355.18 million, slightly higher than ¥307.18 million in Q1 2023, indicating increased financial obligations[20]. Other Notable Events - The company announced plans for share repurchase progress on multiple occasions, with the latest announcement on March 2, 2024[13]. - The company is expected to trigger a downward adjustment of the conversion price for its convertible bonds, with a notice issued on March 19, 2024[13]. - The company has communicated the progress of providing guarantees for its subsidiaries, with updates provided on March 23, 2024[13]. - The company is undergoing a significant asset restructuring, with verification opinions issued regarding the conditions for the circulation of restricted shares on March 27, 2024[13]. - The company has announced the termination of the transfer of a 55% stake in its subsidiary, Tanggang Meijin, on February 24, 2024[12].