CSN(SH:600029)2024-04-29 13:31Financial Performance - The company's operating revenue for Q1 2024 reached RMB 44,601 million, representing a year-on-year increase of 30.97%[4] - The net profit attributable to shareholders was RMB 756 million, with a significant recovery in the passenger transport market contributing to reduced losses and increased profits[4][7] - The basic and diluted earnings per share were both RMB 0.04, indicating a recovery in the passenger transport market[5][7] - Net profit for Q1 2024 was RMB 1,256 million, compared to a net loss of RMB 1,724 million in Q1 2023[20] - In Q1 2024, the total comprehensive income attributable to the parent company was CNY 756 million, a decrease from CNY -1,898 million in Q1 2023[21] - The company reported a total comprehensive income of CNY 1,256 million in Q1 2024, compared to CNY -1,724 million in Q1 2023[21] Cash Flow - The net cash flow from operating activities was RMB 9,777 million, reflecting an increase of 11.00% compared to the same period last year[4] - Cash inflows from operating activities totaled CNY 49,919 million in Q1 2024, up from CNY 38,946 million in Q1 2023, representing an increase of 28.3%[22] - Cash outflows from operating activities were CNY 40,142 million in Q1 2024, compared to CNY 30,138 million in Q1 2023, an increase of 33.3%[23] - The net cash flow from financing activities was CNY -5,971 million in Q1 2024, compared to CNY -8,176 million in Q1 2023, indicating an improvement[24] Assets and Liabilities - Total assets at the end of the reporting period were RMB 313,729 million, up 1.46% from the end of the previous year[5] - Current liabilities rose to RMB 133,767 million, an increase from RMB 129,436 million in the previous year[17] - The company’s total non-current liabilities decreased slightly to RMB 126,709 million from RMB 127,793 million year-over-year[17] - Total operating costs for Q1 2024 were RMB 44,147 million, up from RMB 36,569 million in Q1 2023, reflecting a 21% increase[19] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 170,953[8] - The largest shareholder, China Southern Airlines Group Co., Ltd., held 51.90% of the shares, indicating strong state ownership[8] - The top shareholder, China Southern Airlines Group, holds 51.90% of the shares, while the second-largest shareholder, Nanjing Long Holdings, holds 14.41%[11] - The company reported a total of 9,404,468,936 shares outstanding, with no shares currently being lent out under the stock borrowing program[11] Financial Health and Investments - The weighted average return on equity increased by 5.21 percentage points to 2.03%[5][7] - The company reported a significant increase in long-term equity investments, totaling RMB 6,848 million, up from RMB 6,718 million year-over-year[16] - The company has provided guarantees totaling USD 54.39 million across various SPV companies, with the largest guarantee being USD 5.88 million[13][14] - The company is actively monitoring its financial health and has made strategic adjustments to its guarantee limits in response to market conditions[14] Inventory and Receivables - Accounts receivable increased to RMB 4,406 million from RMB 3,322 million, reflecting a significant rise of about 32.6%[15] - Inventory levels rose to RMB 1,798 million, compared to RMB 1,565 million, indicating an increase of approximately 14.9%[15]