东方日升(300118) - 2024 Q1 - 季度财报

Financial Performance - The company's revenue for Q1 2024 was approximately ¥4.93 billion, a decrease of 27.21% compared to ¥6.78 billion in the same period last year[3]. - The net profit attributable to shareholders was a loss of approximately ¥279.52 million, representing a decline of 189.92% from a profit of ¥310.86 million in the previous year[3]. - The net cash flow from operating activities was negative at approximately ¥3.03 billion, a significant decrease of 1,972.88% compared to a positive cash flow of ¥161.90 million in the same period last year[3]. - The company reported a basic earnings per share of -¥0.25, a decline of 186.21% from ¥0.29 in the same period last year[3]. - The total comprehensive income attributable to the parent company was a loss of approximately ¥266.60 million, compared to a profit of ¥323.72 million in the previous period[20]. - The net profit for the current period was a loss of approximately ¥279.20 million, compared to a profit of ¥319.31 million in the previous period[20]. Cash Flow and Liquidity - The net cash flow from operating activities decreased by 1972.88% to -3,032,228,158.79 RMB compared to the same period last year, primarily due to a decline in sales of photovoltaic module products and increased cash outflows for household photovoltaic power station construction[9]. - The net increase in cash and cash equivalents was -790,505,360.46 RMB, a decline of 119.51% year-over-year, driven by reduced sales and increased cash outflows for construction[9]. - The ending balance of cash and cash equivalents was CNY 4,963,676,393.13, significantly lower than CNY 9,243,807,843.69 at the end of Q1 2023[22]. - The company reported a cash inflow from loans of CNY 3,864,270,828.20, compared to CNY 2,461,904,648.90 in the previous year, indicating a growth of 56.8%[22]. - Cash received from other financing activities was CNY 2,534,635,047.20, an increase of 80.1% from CNY 1,407,006,771.13 in Q1 2023[22]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥50.25 billion, down 7.36% from ¥54.25 billion at the end of the previous year[3]. - The total liabilities decreased from CNY 39.02 billion to CNY 35.33 billion, a reduction of approximately 9.7%[17]. - The company's equity attributable to shareholders decreased from CNY 15.21 billion to CNY 14.90 billion, a decline of about 2.0%[18]. - The company’s non-current liabilities increased from CNY 8.05 billion to CNY 8.72 billion, an increase of about 8.3%[17]. - Cash and cash equivalents decreased from CNY 10.57 billion to CNY 8.38 billion, a decline of about 20.7%[16]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 82,395, with the largest shareholder holding 24.82% of the shares[10]. - The largest shareholder, Lin Haifeng, holds 282,998,377 shares, with 153,376,900 shares pledged[11]. - The second-largest shareholder, Guanghua Sunshine Asset Management, holds 49,627,791 shares, representing 4.35% of the total[12]. - The company has a total of 10 major shareholders, with no significant changes in their shareholding status reported[13]. Operational Highlights - The company plans to focus on expanding its market presence and enhancing its product offerings in response to the current challenges in the photovoltaic industry[8]. - The company continues to invest in the construction of household photovoltaic power stations, indicating a focus on market expansion and new technology development[9]. - The company announced a share repurchase plan approved on September 6, 2023, to buy back shares through centralized bidding[15]. Financial Expenses and Income - The financial expenses increased by 138.10% to approximately ¥132.54 million, primarily due to higher interest expenses[7]. - The company incurred interest expenses of approximately ¥135.23 million, an increase from ¥93.55 million in the previous period[19]. - The investment income for the period was approximately ¥33.47 million, a substantial increase of 550.49% compared to a loss of -¥7.43 million in the same period last year[7]. - The company received government subsidies amounting to approximately ¥107.73 million, an increase of 72.37% from ¥62.50 million in the previous year[7]. - The company reported other income of approximately ¥107.73 million, up from ¥62.50 million in the previous period[19]. Inventory and Receivables - Accounts receivable increased from CNY 4.42 billion to CNY 4.60 billion, an increase of approximately 4.1%[16]. - The company reported a decrease in inventory from CNY 5.57 billion to CNY 5.61 billion, an increase of approximately 0.6%[16]. Accounting and Reporting Changes - The company has adopted new accounting standards starting from 2024, affecting the financial statements[22]. - The company did not undergo an audit for the Q1 2024 report[22].