正泰电器(601877) - 2024 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2024 was CNY 15,916,617,791.63, representing a year-on-year increase of 1.12%[5] - The net profit attributable to shareholders decreased by 10.06% to CNY 1,080,597,222.13 compared to the same period last year[5] - The net profit after deducting non-recurring gains and losses was CNY 1,032,409,836.58, down 4.98% year-on-year[5] - In Q1 2024, the company's net profit was CNY 1,370,401,199.12, a decrease of 11.8% compared to CNY 1,554,721,544.67 in Q1 2023[20] - The company's operating profit decreased to CNY 1,786,856,752.86, down from CNY 2,018,980,838.83, indicating a decline of 11.5%[20] - The company reported a total comprehensive income of CNY 1,308,776,053.83, a decrease from CNY 1,581,956,125.93 in the previous year[21] Assets and Liabilities - The total assets at the end of the reporting period were CNY 122,334,177,194.97, an increase of 1.27% from the end of the previous year[6] - Total assets as of March 31, 2024, amounted to CNY 122,334,177,194.97, compared to CNY 120,804,656,034.59 at the end of 2023, an increase of 1.26%[16] - Total liabilities decreased slightly to CNY 74,217,884,811.07 from CNY 74,298,268,931.86, a decrease of 0.11%[16] - The equity attributable to shareholders increased by 3.51% to CNY 40,463,366,832.05 compared to the end of the previous year[6] - Shareholders' equity increased to CNY 48,116,292,383.90 from CNY 46,506,387,102.73, reflecting an increase of 3.47%[17] Cash Flow - The cash flow from operating activities was negative at CNY -1,170,887,978.88, indicating a significant cash outflow[5] - The cash flow from operating activities showed a net outflow of CNY -1,170,887,978.88, compared to CNY -1,051,009,689.13 in Q1 2023[24] - The net cash flow from investing activities was -$774.91 million, an improvement from -$1.24 billion in Q1 2023[25] - The total cash inflow from financing activities was $2.22 billion, down from $3.91 billion in the same quarter last year[25] - Cash outflow from financing activities totaled $3.30 billion, compared to $5.98 billion in Q1 2023[25] - The net cash flow from financing activities was -$1.07 billion, an improvement from -$2.07 billion year-over-year[25] - The net decrease in cash and cash equivalents for the quarter was -$3.05 billion, compared to -$4.38 billion in the previous year[25] - The ending balance of cash and cash equivalents was $8.27 billion, down from $7.28 billion in Q1 2023[25] Operational Metrics - The basic earnings per share decreased by 8.93% to CNY 0.51[5] - The basic earnings per share for Q1 2024 was CNY 0.51, down from CNY 0.56 in Q1 2023[21] - The weighted average return on equity was 2.73%, a decrease of 0.52 percentage points[5] - The company reported a significant increase in accounts receivable financing by 144.04% due to increased use of discounted bills[10] - Total operating costs for Q1 2024 were CNY 14,165,004,475.66, up from CNY 13,888,895,987.41 in Q1 2023, reflecting an increase of 1.99%[19] - Accounts receivable increased to CNY 17,569,154,127.68 from CNY 14,329,189,919.79, representing a growth of 22.8%[15] - Inventory decreased to CNY 36,229,018,660.40 from CNY 37,943,634,229.42, a reduction of 4.5%[15] Expenses and Investments - Research and development expenses rose to CNY 275,989,250.98, up from CNY 240,221,777.14, reflecting a 14.9% increase year-over-year[20] - The financial expenses increased significantly to CNY 454,888,079.65, compared to CNY 277,727,126.34, marking a 63.8% rise[20] - The investment income decreased to CNY 81,027,106.84 from CNY 150,482,293.41, reflecting a decline of 46.1%[20] - The company received CNY 80,065,318.22 in tax refunds, an increase from CNY 65,105,874.62 in the previous year[24] - The company received $305.13 million from investment activities, significantly up from $46.05 million in the same quarter last year[25] Shareholder Actions - The company repurchased 21,304,500 shares, accounting for 0.99% of the total share capital as of March 31, 2024[13] - The company repaid $1.17 billion in debt during the quarter, a decrease from $5.29 billion in Q1 2023[25] Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2024[25]