Financial Performance - The net profit attributable to shareholders for the first quarter ended March 31, 2024, was RMB 126.3 million, a decrease of 15.8% compared to the same period last year[5]. - Total revenue for the group decreased by 15.1% to RMB 1.628 billion compared to RMB 1.919 billion in the previous year[5]. - Gross profit fell by 9.6% to RMB 611.2 million from RMB 676 million year-on-year[5]. - The total comprehensive income for the period was RMB 200 million, a decline of 24.4% from RMB 264.5 million year-on-year[8]. - Basic and diluted earnings per share for the period were both RMB 4.90, reflecting a decrease of 15.8%[8]. - The group reported a net profit after tax of RMB 204,977 thousand for the three months ended March 31, 2024, compared to RMB 241,999 thousand for the same period in 2023, reflecting a decrease of about 15.4%[25][30]. - The company reported a loss of RMB 251,522 thousand for the period ending March 31, 2024, compared to a profit in the previous period[17]. - The total comprehensive loss for the period was RMB 32,389 thousand, reflecting a significant decrease in earnings[17]. Revenue Breakdown - Construction revenue for Q1 2024 was RMB 290 million, a significant drop of 52.8% from RMB 614.3 million in Q1 2023, primarily due to the completion of the Baoshan project[56]. - Service concession operation and maintenance revenue for Q1 2024 totaled RMB 1.222 billion, an increase of 1.5% from RMB 1.204 billion in Q1 2023, driven by higher wastewater treatment and water supply volumes[57]. - Non-service concession entrusted operation revenue for Q1 2024 was RMB 50.7 million, up 8.4% from RMB 46.8 million in Q1 2023, contributed by new projects[58]. - Other main revenue for Q1 2024 was RMB 65.2 million, a 22.4% increase from RMB 53.3 million in Q1 2023, mainly due to changes in non-recurring installation project volumes[59]. Cash Flow and Liquidity - Cash and cash equivalents as of March 31, 2024, stood at RMB 3.05 billion, indicating a healthy liquidity position[5]. - The net cash generated from operating activities for the three months ended March 31, 2024, was RMB (76,300) thousand, compared to RMB 47,459 thousand for the same period in 2023, indicating a decline in cash flow from operations[11]. - The total cash and cash equivalents at the end of March 31, 2024, amounted to RMB 3,048,527 thousand, an increase from RMB 2,577,555 thousand at the end of March 31, 2023[12]. - The cash and cash equivalents at the end of the reporting period were RMB 3.049 billion, up 5.6% from RMB 2.886 billion at the end of 2023[71]. Assets and Liabilities - As of March 31, 2024, total current assets amounted to RMB 9,913,291 thousand, an increase from RMB 9,270,986 thousand as of December 31, 2023, representing a growth of approximately 6.9%[9]. - Total non-current assets as of March 31, 2024, were RMB 33,273,689 thousand, slightly down from RMB 33,336,954 thousand as of December 31, 2023, indicating a decrease of about 0.2%[10]. - Total assets reached RMB 43,186,980 thousand as of March 31, 2024, compared to RMB 42,607,940 thousand at the end of the previous fiscal year, reflecting an increase of approximately 1.4%[10]. - Total current liabilities were RMB 8,311,818 thousand as of December 31, 2023, down from RMB 10,258,345 thousand, showing a decrease of about 19%[10]. - Total non-current liabilities increased to RMB 19,389,732 thousand as of December 31, 2023, from RMB 17,059,139 thousand, representing an increase of approximately 13.6%[10]. - The group’s total liabilities as of March 31, 2024, were RMB 27,701,550 thousand, compared to RMB 27,317,484 thousand as of December 31, 2023, indicating an increase of about 1.4%[27][28]. Expenses and Costs - The group's tax expense for the period was RMB 71.6 million, down 23.9% from RMB 94 million in the previous year[8]. - Income tax expenses in Q1 2024 were RMB 71.6 million, down 23.9% from RMB 94.0 million in Q1 2023, resulting from a decrease in revenue during the reporting period[66]. - Administrative expenses in Q1 2024 were RMB 128.1 million, down 5.0% from RMB 134.8 million in Q1 2023, attributed to cost-saving measures[64]. - Financial expenses in Q1 2024 were RMB 204.2 million, a decrease of 10.1% from RMB 227.0 million in Q1 2023, due to restructuring efforts that replaced loans with lower interest rates[65]. Equity and Shareholder Information - The company's equity attributable to owners was RMB 10,252,809 thousand as of December 31, 2023, up from RMB 10,131,507 thousand, indicating a growth of about 1.2%[10]. - The group’s total equity as of March 31, 2024, was RMB 15,485,430 thousand, up from RMB 15,290,456 thousand as of January 1, 2024[14]. - The weighted average number of ordinary shares outstanding for the calculation of basic and diluted earnings per share remained constant at 2,575,665,726 shares for both periods[43]. - The company plans to pay a final dividend of SGD 0.006 per ordinary share, approved at the annual general meeting held on April 29, 2024[42]. Operational Highlights - The operating profit for the water and sludge treatment segment was RMB 413,669 thousand, while the total operating profit for all reportable segments was RMB 466,319 thousand, down from RMB 556,496 thousand in the previous year[25]. - In Q1 2024, three wastewater treatment projects commenced commercial operations, with a total treatment capacity of nearly 160,000 tons[72]. - The company did not declare any dividends due to the need for funds to support capital expenditures and project investments[75]. Financial Risks and Compliance - The company faces various financial risks, including foreign currency risk and liquidity risk, which are managed by the board and management[22]. - The financial statements are prepared in accordance with Singapore Financial Reporting Standards, with no changes in accounting policies[19]. - The board of directors confirmed that there are no significant matters that would lead to misstatements or misleading information in the financial statements as of March 31, 2024[76].
上海实业环境(00807) - 2024 Q1 - 季度业绩