中国西电(601179) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 4,681,880,755.97, a decrease of 2.35% compared to CNY 4,673,947,869.53 in the same period last year[4] - Net profit attributable to shareholders was CNY 203,266,211.89, representing an increase of 7.27% from CNY 185,736,354.13 year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 190,154,927.22, up by 6.78% from CNY 174,320,211.51 in the previous year[4] - Basic earnings per share for Q1 2024 were CNY 0.0397, an increase of 7.30% compared to CNY 0.0362 in the previous year[5] - Net profit for Q1 2024 was CNY 301,970,253.19, an increase of 20.9% compared to CNY 250,044,503.87 in Q1 2023[16] - The net profit for the first quarter of 2024 was approximately ¥253.13 million, an increase of 19.3% compared to ¥212.24 million in the same period of 2023[17] - The total comprehensive income for the first quarter of 2024 was approximately ¥212.76 million, a decrease of 30% from ¥303.88 million in the first quarter of 2023[17] Cash Flow and Liquidity - The net cash flow from operating activities was CNY 225,175,759.26, a significant improvement from a negative cash flow of CNY -1,906,223,682.86 in the same period last year[4] - Operating cash flow for the first quarter of 2024 was approximately ¥225.18 million, a significant improvement from a negative cash flow of ¥1.92 billion in the first quarter of 2023[19] - Cash received from sales of goods and services in the first quarter of 2024 was approximately ¥4.13 billion, an increase of 43.5% compared to ¥2.88 billion in the same period of 2023[19] - The company reported a net cash outflow from investing activities of approximately ¥347.95 million in the first quarter of 2024, compared to a net outflow of ¥770.09 million in the same period of 2023[20] - The cash and cash equivalents at the end of the first quarter of 2024 were approximately ¥8.75 billion, a decrease from ¥3.62 billion at the end of the first quarter of 2023[20] Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 43,609,666,648.61, a decrease of 0.39% from CNY 43,778,740,536.72 at the end of the previous year[5] - Total liabilities decreased to CNY 18,976,030,563.80 in Q1 2024 from CNY 19,352,453,393.21 in Q1 2023, a reduction of 1.9%[15] - The company's total equity increased to CNY 24,633,636,084.81 in Q1 2024 from CNY 24,426,287,143.51 in Q1 2023, reflecting a growth of 0.9%[15] Shareholder Information - The total number of common shareholders at the end of the reporting period is 137,982, with the largest shareholder, China Electric Equipment Group Co., Ltd., holding 2,658,914,685 shares, representing 51.87% of the total[10] - The top ten shareholders include GE Smallworld (Singapore) PTE LTD with 768,882,352 shares, accounting for 15.00% of the total[10] - The number of shares held by the top ten unrestricted shareholders remains unchanged, with no significant changes in their participation in margin trading[12] - The company has not identified any related party relationships or concerted actions among the top shareholders[11] Revenue and Expenses - The decrease in operating revenue was attributed to changes in the consolidation scope compared to the previous year, which included revenues from West Electric New Energy and West Electric Comprehensive Energy[9] - The increase in net profit was mainly due to an increase in gross profit margin during the reporting period[9] - Research and development expenses increased to CNY 151,327,216.32 in Q1 2024, up from CNY 124,512,843.25 in Q1 2023, representing a growth of 21.5%[16] - The company reported a decrease in interest income to CNY 29,209,781.20 in Q1 2024 from CNY 58,970,416.98 in Q1 2023, a decline of 50.5%[16] Inventory and Receivables - Accounts receivable increased to ¥10,884,575,142.26 as of March 31, 2024, compared to ¥9,872,979,731.16 at the end of 2023, indicating a growth of approximately 10.2%[13] - Inventory decreased to ¥3,218,998,367.41 from ¥3,545,467,231.09, indicating a decline of about 9.2%[13] - The company holds trading financial assets worth ¥951,124,894.13, an increase from ¥876,490,271.51, representing a growth of approximately 8.5%[13] - The company has a total of 1,568,029,368.05 in contract assets as of March 31, 2024, compared to 1,490,734,383.87 at the end of 2023, showing an increase of approximately 5.4%[13]