湘电股份(600416) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,260,735,338.11, representing a year-on-year increase of 9.51%[4] - Net profit attributable to shareholders was CNY 60,459,240.84, a decrease of 40.85% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 52,894,069.36, down 44.81% year-on-year[4] - Basic and diluted earnings per share were both CNY 0.046, reflecting a decrease of 42.50%[4] - Total operating revenue for Q1 2024 reached ¥1,260,735,338.11, an increase of 9.5% compared to ¥1,151,247,697.90 in Q1 2023[21] - Net profit for Q1 2024 was ¥60,504,474.75, a decrease of 39.8% from ¥100,468,328.50 in Q1 2023[22] - Earnings per share for Q1 2024 were ¥0.046, down from ¥0.08 in Q1 2023[22] - The company reported a total profit of ¥69,834,123.51 for Q1 2024, down from ¥107,591,472.87 in Q1 2023, indicating a decline of 35.1%[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -132,281,291.57, a decline of 116.69% compared to the previous year[4] - In Q1 2024, the company reported cash inflows from operating activities totaling approximately $999.78 million, an increase of 34.1% compared to $745.45 million in Q1 2023[24] - The net cash outflow from operating activities was approximately -$132.28 million, worsening from -$61.05 million in the same period last year[24] - Total cash and cash equivalents at the end of Q1 2024 were approximately $1.98 billion, down from $2.25 billion at the beginning of the quarter[25] - The total cash inflow from operating activities was significantly impacted by a cash payment of approximately $742.79 million for goods and services, which increased from $357.12 million in Q1 2023[24] Assets and Liabilities - Total assets at the end of the reporting period were CNY 14,315,088,966.92, a decrease of 0.84% from the end of the previous year[5] - As of March 31, 2024, the total current assets amounted to RMB 9,927,213,154.58, a slight decrease from RMB 9,982,337,776.61 at the end of 2023[16] - The total assets as of March 31, 2024, were RMB 14,315,088,966.92, down from RMB 14,435,740,663.66 at the end of 2023[17] - The total liabilities decreased slightly to RMB 6,642,054,463.76 from RMB 6,646,014,466.86, showing a marginal reduction[17] - The company's total liabilities decreased to ¥7,010,753,157.57 from ¥7,193,325,243.89, a reduction of approximately 2.5%[21] Equity and Return Metrics - Shareholders' equity attributable to shareholders was CNY 7,296,642,756.18, an increase of 0.86% from the previous year-end[5] - The weighted average return on equity was 0.83%, down by 0.63 percentage points[4] - Total equity attributable to shareholders of the parent company increased to ¥7,296,642,756.18 from ¥7,234,767,600.51, reflecting a growth of 0.9%[21] Expenses and Investments - The increase in expenses was attributed to higher wages, management costs, and increased R&D investment[8] - The company reported a significant increase in material procurement costs, impacting cash flow from operations[8] - Total operating costs for Q1 2024 were ¥1,192,713,541.25, up from ¥1,047,486,108.47 in Q1 2023, reflecting a year-over-year increase of 13.9%[21] - Research and development expenses increased to ¥23,658,791.12 in Q1 2024, compared to ¥21,034,977.86 in Q1 2023, marking an increase of 12.5%[21] - The company’s development expenditure increased to RMB 827,802,106.39 from RMB 799,727,837.53, indicating a growth of approximately 3.5%[17] Financing Activities - The company raised $300 million through borrowings in Q1 2024, compared to $1.2 billion in Q1 2023, indicating a reduction in financing activities[25] - The company paid approximately $442 million in debt repayments during Q1 2024, a decrease from $1.58 billion in the same quarter last year[25] - The cash outflow from financing activities was approximately $462.38 million, compared to $1.6 billion in Q1 2023, reflecting a strategic reduction in financing costs[25] Other Notable Information - The company has not reported any significant new strategies or product developments during this quarter[15] - Deferred income increased significantly to ¥108,480,926.10 from ¥77,363,776.10, representing an increase of 40.3%[21] - The company’s financial expenses rose to ¥9,817,901.87 in Q1 2024, compared to ¥6,035,818.86 in Q1 2023, an increase of 62.5%[21]