CCEGC(SH:600939)2024-04-28 09:05Financial Performance - Total operating revenue for Q1 2024 was CNY 7,418,287,826.14, a decrease of 32.60% compared to the same period last year[5]. - Net profit attributable to shareholders was CNY 44,636,018.06, down 22.99% year-on-year[5]. - Net profit after deducting non-recurring gains and losses was CNY 22,278,176.76, a decline of 58.36% compared to the previous year[5]. - Basic and diluted earnings per share were both CNY 0.02, representing a decrease of 33.33%[5]. - Total operating revenue for Q1 2024 was ¥7,418,287,826.14, a decrease of 32.5% compared to ¥11,006,539,370.57 in Q1 2023[20]. - Total operating costs for Q1 2024 were ¥7,384,005,841.12, down 32.4% from ¥10,945,264,018.06 in Q1 2023[20]. - Net profit for Q1 2024 was ¥46,064,176.90, a decline of 22.8% from ¥59,608,349.19 in Q1 2023[21]. - Earnings per share for Q1 2024 were ¥0.02, compared to ¥0.03 in Q1 2023[22]. - Total assets decreased to ¥83,751,757,581.90 in Q1 2024 from ¥86,989,647,028.48 in Q1 2023, a reduction of 3.0%[17]. - Total liabilities decreased to ¥75,025,431,778.11 in Q1 2024 from ¥78,229,262,132.00 in Q1 2023, a decline of 4.3%[17]. - Total equity decreased to ¥8,726,325,803.79 in Q1 2024 from ¥8,760,384,896.48 in Q1 2023, a decrease of 0.4%[17]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -1,547,350,656.27, indicating a significant cash outflow[5]. - As of March 31, 2024, the company's cash and cash equivalents amounted to ¥4,050,589,152.84, a decrease from ¥5,301,682,576.41 as of December 31, 2023, representing a decline of approximately 23.5%[14]. - The total current assets decreased to ¥65,313,240,021.76 from ¥68,597,210,272.59, indicating a reduction of about 3.3%[15]. - The company's accounts receivable stood at ¥19,076,963,435.70, down from ¥20,899,202,134.35, reflecting a decrease of approximately 8.7%[15]. - The company’s total current assets decreased to CNY 16.84 billion as of March 31, 2024, from CNY 18.08 billion at the end of 2023, a decline of 6.9%[27]. - The accounts receivable stood at CNY 3.63 billion, down from CNY 3.84 billion in the previous year, indicating a decrease of 5.2%[27]. - The total cash and cash equivalents at the end of Q1 2024 were CNY 2.86 billion, down from CNY 3.27 billion at the end of Q1 2023, reflecting a decrease of 12.5%[25]. - The company reported an increase in cash received from other operating activities to CNY 2.32 billion in Q1 2024, compared to CNY 1.58 billion in Q1 2023, a growth of 46.7%[24]. - The cash inflow from financing activities increased significantly to CNY 5.16 billion in Q1 2024, up from CNY 3.57 billion in Q1 2023, marking a growth of 44.5%[25]. Investments and Assets - The company successfully issued non-public corporate bonds amounting to ¥1 billion with a coupon rate of 4.0% on March 15, 2024[13]. - The total non-current assets were reported at ¥22,198,000,000.00, with significant investments in fixed assets and intangible assets[15]. - The company’s long-term equity investments increased to ¥815,662,221.86 from ¥761,592,600.49, showing a growth of approximately 7.1%[15]. - The company’s long-term equity investments increased to CNY 9.30 billion as of March 31, 2024, compared to CNY 9.25 billion at the end of 2023, reflecting a growth of 0.5%[27]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 43,530[10]. - The largest shareholder, Chongqing Construction Investment Holding Co., Ltd., held 44.40% of the shares, with 250,000,000 shares pledged[10]. - The company is under the supervision of the Chongqing State-owned Assets Supervision and Administration Commission, which controls the major shareholders[12]. Research and Development - Research and development expenses increased to ¥37,526,537.54 in Q1 2024, up 98.5% from ¥18,901,671.99 in Q1 2023[21]. - Research and development expenses increased to ¥5.56 million in Q1 2024 from -¥0.29 million in Q1 2023, indicating a shift towards increased investment in innovation[29]. Financial Challenges - The decline in revenue and profit was primarily due to the slow recovery of the external macroeconomic environment and the impact of government debt management, leading to a slowdown in project implementation[8]. - The company reported an investment loss of ¥14,726,015.92 in Q1 2024, an improvement from a loss of ¥30,928,601.33 in Q1 2023[21]. - The net cash flow from operating activities was -$626.28 million, compared to -$418.99 million in the previous year, indicating a decline in operational cash generation[32]. - The net cash flow from investing activities was -$74.58 million, down from -$130.94 million year-over-year, reflecting reduced investment outflows[32]. - The net cash flow from financing activities was $204.71 million, a decrease from $291.65 million in the prior year, showing a decline in financing inflows[32]. - The company reported a net decrease in cash and cash equivalents of -$496.16 million, compared to -$258.28 million in the same period last year[32].