ANG(603689)2024-04-29 08:05Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,568,036,490.60, representing a decrease of 13.07% compared to CNY 1,802,760,773.90 in the same period last year[5] - Net profit attributable to shareholders was CNY 106,677,127.35, showing a slight increase of 2.42% from CNY 104,966,286.65 year-on-year[5] - Total operating revenue for Q1 2024 was CNY 1,568,036,490.60, a decrease of 12.98% compared to CNY 1,803,772,622.87 in Q1 2023[18] - Total operating costs for Q1 2024 were CNY 1,430,026,940.50, down 14.25% from CNY 1,667,577,900.87 in Q1 2023[18] - The net profit for Q1 2024 was CNY 108,997,363.62, representing an increase of 3.4% compared to CNY 104,289,308.49 in Q1 2023[19] - Operating profit for Q1 2024 reached CNY 148,594,776.59, up from CNY 140,582,374.75 in the same period last year, indicating a growth of 5.8%[19] - The total comprehensive income for Q1 2024 was CNY 108,997,363.62, compared to CNY 104,289,308.49 in Q1 2023, marking a 3.4% increase[20] - Net profit for Q1 2024 was CNY 59,159,251.90, down 69.1% from CNY 191,516,524.45 in Q1 2023[27] Cash Flow - The net cash flow from operating activities increased by 15.14% to CNY 201,038,600.22, compared to CNY 180,984,524.33 in the previous year[6] - Cash flow from operating activities generated CNY 201,038,600.22, an increase from CNY 174,610,165.93 in Q1 2023, reflecting a growth of 15.1%[22] - The company reported a decrease in cash flow from investing activities, with a net outflow of CNY 148,355,713.77 compared to a net outflow of CNY 219,128,842.78 in the previous year[22] - Cash flow from financing activities generated a net inflow of CNY 52,957,330.80, a significant decrease from CNY 393,476,476.84 in Q1 2023[22] - The cash flow from operating activities showed a strong recovery, indicating improved operational efficiency and revenue generation capabilities[30] Assets and Liabilities - Total assets as of March 31, 2024, were CNY 7,167,351,635.40, reflecting a growth of 2.37% from CNY 7,001,292,763.80 at the end of the previous year[6] - Total liabilities increased to CNY 3,490,727,603.67 in Q1 2024, compared to CNY 3,449,723,367.57 in Q4 2023, showing a rise of 1.19%[16] - Cash and cash equivalents increased to CNY 824,552,399.56 as of March 31, 2024, up from CNY 718,912,182.31 at the end of 2023, reflecting a growth of 14.68%[13] - Accounts receivable rose significantly to CNY 155,435,394.64 in Q1 2024, compared to CNY 75,521,111.01 in Q4 2023, marking an increase of 105.59%[13] - Inventory increased to CNY 45,029,641.79 in Q1 2024, up from CNY 40,972,864.62 in Q4 2023, representing an increase of 24.99%[13] - Total assets reached CNY 7,167,351,635.40 as of March 31, 2024, compared to CNY 7,001,292,763.83 at the end of 2023, reflecting an increase of 2.37%[17] - Shareholders' equity rose to CNY 3,676,624,031.73 as of March 31, 2024, up from CNY 3,551,569,396.26 at the end of 2023, indicating an increase of 3.52%[16] Shareholder Information - The top shareholder, Anhui Energy Group Co., Ltd., holds 42.62% of the shares, while Hong Kong and China Gas (Anhui) Co., Ltd. holds 20.28%[10] - The total number of ordinary shareholders at the end of the reporting period was 16,912[10] Expenses - The company incurred credit impairment losses of CNY -3,821,156.44, compared to CNY -2,151,973.61 in the previous year, indicating a deterioration in credit quality[19] - The company reported a tax expense of CNY 39,755,148.46 for Q1 2024, up from CNY 36,421,446.22 in the same quarter last year, reflecting an increase of 6.4%[19] - Research and development expenses increased significantly to CNY 411,464.71 in Q1 2024 from CNY 123,684.32 in Q1 2023, reflecting a growth of 232.5%[26] - The company's financial expenses rose to CNY 13,682,435.88 in Q1 2024, compared to CNY 5,522,981.42 in Q1 2023, marking an increase of 147.5%[26] Investment Activities - The company reported a significant decline in investment income, which fell to CNY 22,204,893.75 in Q1 2024 from CNY 145,901,977.47 in Q1 2023[26] - The net cash flow from investment activities was negative at ¥-28,443,917.72 in Q1 2024, contrasting with a positive net flow of ¥41,363,152.30 in Q1 2023[30] - Cash inflow from investment activities totaled ¥435,818,037.56 in Q1 2024, compared to ¥552,862,062.65 in Q1 2023, indicating a decrease of approximately 21.2%[30]