Financial Performance - For the three months ended March 31, 2024, the company achieved operating revenue of RMB 3,873,747,046, representing a decrease of 37.61% year-on-year[2][4]. - The net profit attributable to shareholders of the parent company was RMB 1,238,666,240, down 45.13% compared to the previous year[2][4]. - The net profit attributable to shareholders of the parent company after deducting non-recurring gains and losses was RMB 1,216,702,413, reflecting a decline of 44.17% year-on-year[4]. - Basic earnings per share decreased by 48.70% to RMB 0.223[4]. - The company reported a net profit of RMB 1,430,038,591 for Q1 2024, compared to RMB 2,705,614,698 in Q1 2023, indicating a decline of 47.3%[19]. - Net profit for Q1 2024 was RMB 1,239,089,337, a decrease of 45.2% compared to RMB 2,259,717,361 in Q1 2023[20]. - Total comprehensive income for Q1 2024 was RMB 1,332,545,719, down from RMB 2,101,201,265 in Q1 2023, reflecting a decline of 36.6%[20]. - The company reported a significant decrease in other income by 73.00% to $29.99 million from $111.08 million, due to reduced tax refund income and government support funds[9]. Assets and Liabilities - The total assets at the end of the reporting period were RMB 613,694,656,004, a decrease of 1.70% from the end of the previous year[4]. - Total liabilities as of March 31, 2024, were RMB 507,464,712,334, a decrease from RMB 519,409,188,733 as of December 31, 2023[17]. - Total assets as of March 31, 2024, were RMB 613,694,656,004, down from RMB 624,306,586,684 as of December 31, 2023[16]. - The total equity attributable to shareholders as of March 31, 2024, was RMB 106,229,943,670, compared to RMB 104,897,397,951 as of December 31, 2023[18]. - Total liabilities as of March 31, 2024, were RMB 244,833,524,480, down from RMB 247,289,260,000 at the end of 2023[26]. - The company's total assets as of March 31, 2024, were RMB 325,019,319,315, slightly down from RMB 325,426,582,506 at the end of 2023[24]. Cash Flow - The net cash flow from operating activities was RMB 12,814,865,518, with no applicable year-on-year comparison[4]. - Operating cash inflow for Q1 2024 was RMB 44,225,870,123, an increase of 6.7% from RMB 41,465,367,166 in Q1 2023[21]. - Net cash flow from operating activities for Q1 2024 was RMB 12,814,865,518, compared to a negative cash flow of RMB -1,883,112,957 in Q1 2023[21]. - Cash inflow from investment activities in Q1 2024 was RMB 43,316,119,326, up from RMB 37,340,465,784 in Q1 2023[22]. - The net cash flow from investment activities decreased to RMB 1,827,664,748 in Q1 2024 from RMB 13,853,520,963 in Q1 2023[22]. - Cash inflow from bond issuance amounted to 5 billion, while cash inflow from profit certificates was approximately 4.5 billion, resulting in a total cash inflow from financing activities of 11 billion[33]. - Cash outflow for bond repayment was 8 billion, leading to a net cash flow from financing activities of -2.23 billion, compared to -9.06 billion in the previous year[33]. - The net increase in cash and cash equivalents for the first quarter of 2024 was approximately 10.68 billion, compared to 2.86 billion in the first quarter of 2023[33]. - Cash and cash equivalents at the end of Q1 2024 totaled RMB 161,674,270,646, a decrease from RMB 167,764,339,247 at the end of Q1 2023[23]. Shareholder Information - The total number of shareholders at the end of the reporting period was 119,294, with 118,917 A-share shareholders and 377 H-share registered shareholders[10]. - The largest shareholder, Central Huijin Investment Ltd., holds 40.11% of the shares, totaling 1,936,155,680 shares[11]. - The second-largest shareholder, Hong Kong Central Clearing Limited, holds 39.42% of the shares, totaling 1,902,983,804 shares[11]. Investment and Income - Investment income and fair value changes decreased by 48.95% to $1.85 billion from $3.62 billion, attributed to lower net gains from financial instruments measured at fair value[9]. - Foreign exchange gains increased to $486.03 million from a loss of $38.51 million, driven by gains from foreign exchange derivative transactions due to currency fluctuations[9]. - The company reported a foreign exchange gain of RMB 486,032,134 in Q1 2024, contrasting with a loss of RMB 38,505,834 in Q1 2023[19]. - The company reported a significant decrease in net income from investment activities, with losses of RMB -485,982,202 in Q1 2024 compared to losses of RMB -4,502,854,349 in Q1 2023[29]. - Net commission and fee income for Q1 2024 was RMB 2,086,204,582, down from RMB 2,744,765,982 in Q1 2023, reflecting a decline of 24.1%[19]. - Investment income increased to RMB 3,435,648,963 in Q1 2024, compared to RMB 2,439,587,676 in Q1 2023, representing a growth of 41%[19]. Other Financial Metrics - The company reported a significant decrease of 50.98% in borrowed funds, totaling RMB 22,044,342,418[8]. - Contract liabilities increased by 61.24% to RMB 663,142,024, driven by prepayments received from asset management and fund management businesses[8]. - Business and management expenses decreased by 31.41% to $2.39 billion from $3.49 billion, mainly due to reductions in employee costs, business development expenses, and travel costs[9]. - Cash flow from investing activities decreased by 86.81% to $1.83 billion from $13.85 billion, reflecting increased cash payments for investments[9]. - The company's interest income for Q1 2024 was RMB 2,176,301,786, while interest expenses were RMB 2,770,044,883, resulting in a net interest loss of RMB 593,743,097[19]. - The net interest income for Q1 2024 was negative at RMB -368,363,026, compared to RMB -324,922,775 in Q1 2023[29]. - The company plans to implement new accounting standards starting in 2024, which may affect the financial statements[34].
中金公司(03908) - 2024 Q1 - 季度业绩