GED(SZ:000539)2024-04-29 14:29Financial Performance - The company's operating revenue for Q1 2024 was CNY 12,789,410,415, a decrease of 1.97% compared to CNY 13,046,268,148 in the same period last year[2] - Net profit attributable to shareholders increased by 42.80% to CNY 126,281,663 from CNY 88,429,494 year-on-year[2] - Net profit for Q1 2024 increased to CNY 296,517,543, compared to CNY 84,727,866 in Q1 2023, representing a growth of 250.5%[13] - The company reported a significant increase in operating profit, reaching CNY 451,578,280, up from CNY 125,238,515 in the previous year[13] - Basic and diluted earnings per share for Q1 2024 were CNY 0.0241, compared to CNY 0.0168 in Q1 2023, an increase of 43.5%[14] Cash Flow and Liquidity - The net cash flow from operating activities surged by 810.25% to CNY 2,719,506,027 compared to CNY 298,763,280 in the previous year[2] - Operating cash inflow for the period was CNY 15,058,245,685, an increase from CNY 13,518,520,310 in the previous period, representing a growth of approximately 11.4%[15] - The net cash flow for the period was CNY 266,279,945, significantly lower than CNY 1,883,225,784 in the previous period, indicating a decline of about 85.9%[16] - The total cash and cash equivalents at the end of the period amounted to CNY 12,220,447,097, down from CNY 13,317,034,284 in the previous period, a decrease of approximately 8.2%[16] Assets and Liabilities - The company's total assets at the end of Q1 2024 were CNY 162,583,145,248, reflecting a 0.85% increase from CNY 161,207,283,087 at the end of the previous year[2] - Total liabilities increased to CNY 128,918,475,977 from CNY 127,296,425,385, marking a rise of 1.27%[14] - The company's total equity decreased to CNY 33,664,669,271 from CNY 33,910,857,702, a decline of 0.73%[14] - Accounts receivable decreased to CNY 8.36 billion from CNY 8.96 billion, indicating a reduction of approximately 6.93%[11] - Inventory increased significantly to CNY 3.30 billion, up from CNY 2.66 billion, representing a growth of 24.06%[11] Operational Efficiency - The fuel cost for power generation was CNY 859,236,000, a decrease of CNY 83,328,000 or 8.84% year-on-year[6] - The company's electricity generation increased by 1.852 billion kWh year-on-year, positively impacting revenue despite a decline in electricity prices[6] - The revenue from renewable energy sources, including wind and solar, grew by CNY 19,623,000 year-on-year, contributing to stable performance[6] - Total operating costs decreased to CNY 12,482,302,299 from CNY 13,137,274,974, reflecting a reduction of 4.98%[13] - Research and development expenses decreased to CNY 82,411,766 from CNY 183,802,170, a reduction of 55.1%[13] Governance and Strategic Changes - The company approved a capital increase of CNY 50 million for its indirect subsidiary, enhancing its financial capacity[9] - The company plans to implement changes in accounting policies to better reflect its financial status starting January 1, 2024[9] - The company appointed a new employee supervisor following the retirement of the previous one, ensuring continuity in governance[9] Non-Recurring Items - Non-recurring gains totaled CNY 30,956,792, primarily from asset disposals and government subsidies[3] - The company recognized a long-term equity investment impairment provision of CNY 1.21 billion, impacting the parent company's net profit[11]