Financial Performance - Total revenue for Q1 2025 was CNY 40,019,080,365.54, a decrease of 6.63% compared to the same period last year[9]. - Net profit attributable to shareholders decreased by 45.60% to CNY 1,751,178,715.35 from CNY 3,227,751,398.16 in the previous year[9]. - Basic and diluted earnings per share fell by 44.74% to CNY 0.21 per share[9]. - Total operating revenue for Q1 2025 was CNY 40.02 billion, a decrease of 6.5% compared to CNY 42.86 billion in Q1 2024[30]. - Net profit for Q1 2025 was CNY 1.75 billion, a decline of 45.5% from CNY 3.22 billion in Q1 2024[31]. - Basic and diluted earnings per share for Q1 2025 were CNY 0.21, down from CNY 0.38 in Q1 2024[32]. - Other comprehensive income after tax for Q1 2025 was CNY 1.75 billion, compared to a loss of CNY 266.83 million in Q1 2024[32]. - The company reported a financial expense of CNY -1.03 billion in Q1 2025, a significant change from CNY 95.39 million in Q1 2024[30]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -8,980,143,836.11, indicating a significant decline in cash inflow[9]. - In Q1 2025, the net cash flow from operating activities was -8,980,143,836.11, a decline compared to -2,634,303,567.26 in Q1 2024, indicating a worsening operational cash flow situation[35]. - Cash inflow from investment activities in Q1 2025 was 38,801,508,093.58, significantly higher than 5,123,580,358.69 in Q1 2024, reflecting a strong recovery in investment returns[36]. - The net cash flow from financing activities in Q1 2025 was 302,946,866.44, down from 2,333,728,048.33 in Q1 2024, suggesting reduced financing activity[37]. - The total cash and cash equivalents at the end of Q1 2025 amounted to 28,629,990,718.44, compared to 32,223,097,139.26 at the end of Q1 2024, indicating a decrease in liquidity[37]. - Cash received from sales of goods and services in Q1 2025 was 43,097,218,726.83, a decrease from 44,777,215,836.01 in Q1 2024, showing a decline in revenue generation[35]. - The cash outflow for purchasing goods and services in Q1 2025 was 41,735,893,116.59, an increase from 38,872,240,287.30 in Q1 2024, indicating rising operational costs[35]. - Cash inflow from recovering investments in Q1 2025 was 38,470,334,530.94, a substantial increase from 5,100,000,000.00 in Q1 2024, highlighting improved investment recovery[36]. - The cash outflow for investment activities in Q1 2025 was 28,751,296,916.89, compared to 7,846,690,783.62 in Q1 2024, reflecting increased capital expenditures[36]. - The impact of exchange rate changes on cash and cash equivalents in Q1 2025 was positive at 23,702,049.12, contrasting with a negative impact of -30,707,669.87 in Q1 2024[37]. - The cash inflow from financing activities in Q1 2025 totaled 4,207,812,856.63, down from 7,931,975,869.95 in Q1 2024, indicating a reduction in financing sources[37]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 212,547,066,299.77, down 2.38% from the previous year[9]. - As of March 31, 2025, the total current assets of Great Wall Motors amounted to CNY 126.52 billion, a decrease of 5.4% from CNY 133.54 billion on December 31, 2024[24]. - The total non-current assets reached CNY 86.02 billion, an increase of 2.2% compared to CNY 84.18 billion as of December 31, 2024[26]. - The total liabilities decreased to CNY 114.40 billion from CNY 122.57 billion, indicating a reduction of 6.7%[27]. - The company's total assets as of March 31, 2025, were CNY 212.55 billion, down from CNY 217.72 billion, representing a decrease of 2.4%[26]. - The company's long-term equity investments increased to CNY 11.72 billion from CNY 11.55 billion, reflecting a growth of 1.5%[26]. - The company's inventory rose to CNY 32.61 billion from CNY 25.44 billion, an increase of 28.0%[24]. - The company's total liabilities to total assets ratio improved to 53.8% from 56.3%, indicating a stronger financial position[27]. - The company reported a total debt of CNY 129.89 billion as of March 31, 2025, compared to CNY 138.73 billion as of December 31, 2024[28]. - Total non-current liabilities decreased to CNY 15.49 billion in Q1 2025 from CNY 16.16 billion in Q4 2024[28]. - The company's total equity increased to CNY 82.66 billion as of March 31, 2025, up from CNY 78.99 billion as of December 31, 2024[28]. Shareholder Information - The largest shareholder, Baoding Innovation Great Wall Asset Management Co., holds 5,115,000,000 shares, representing 59.74% of the total shares[15]. - HKSCC Nominees Limited, the second largest shareholder, holds 2,303,112,411 shares, accounting for 26.90% of the total shares[15]. - China Securities Finance Corporation holds 196,889,089 shares, which is 2.30% of the total shares[15]. - The top ten shareholders include various entities, with the smallest holding being China Construction Bank at 14,312,681 shares, or 0.17%[16]. - There are no reported changes in the lending or borrowing of shares among the top ten shareholders[18]. - The company has announced plans for a stock option incentive program and convertible bond conversion, with details to be published in early 2025[19]. - The company is actively managing its stock incentive plans, including the repurchase and cancellation of restricted stock[19]. - The total number of unrestricted shares held by the top ten shareholders is significant, indicating strong institutional support[16]. - The company has not disclosed any related party transactions among the top shareholders[16]. - The shareholder structure shows a concentration of ownership, with the top two shareholders holding over 86% of the total shares[15]. Operational Insights - The company is undergoing a product upgrade cycle, which has led to a decrease in sales volume and increased investment in direct sales system construction[12]. - Non-recurring gains and losses totaled CNY 282,131,369.01 for the period[10]. - The weighted average return on equity decreased to 2.17% from 4.60% in the previous year[9].
长城汽车(02333) - 2025 Q1 - 季度业绩