ZZEPC(600023)2025-04-28 08:30Financial Performance - The company's operating revenue for Q1 2025 was CNY 17.60 billion, a decrease of 12.09% compared to CNY 20.02 billion in the same period last year[4]. - Net profit attributable to shareholders was CNY 1.07 billion, down 40.81% from CNY 1.82 billion year-on-year[4]. - The net profit after deducting non-recurring gains and losses was CNY 960 million, a decline of 45.37% compared to CNY 1.76 billion in the previous year[4]. - Basic and diluted earnings per share were both CNY 0.08, representing a decrease of 42.86% from CNY 0.14 in the same period last year[4]. - The net profit for the first quarter of 2025 is CNY 1,192,935,738.02, a decrease of 38.8% compared to CNY 1,940,532,357.52 in the same period of 2024[17]. - The total revenue for the first quarter of 2025 is CNY 22,394,199,786.41, down from CNY 23,449,862,013.51 in the first quarter of 2024, reflecting a decline of approximately 4.5%[19]. - Operating profit for the first quarter of 2025 is CNY 1,342,107,784.64, a decrease of 40.2% from CNY 2,242,362,166.81 in the first quarter of 2024[17]. - The company reported a total comprehensive income of CNY 1,490,785,987.99 for the first quarter of 2025, down from CNY 2,213,037,914.69 in the first quarter of 2024[18]. - Basic and diluted earnings per share for the first quarter of 2025 are both CNY 0.08, compared to CNY 0.14 in the same period of 2024[18]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 98.84% to CNY 3.57 billion, compared to CNY 1.80 billion in the previous year[4]. - The cash flow from operating activities for the first quarter of 2025 is CNY 3,570,795,493.08, an increase of 99.5% compared to CNY 1,795,774,115.80 in the same period of 2024[20]. - Cash and cash equivalents as of March 31, 2025, amounted to RMB 16,412,904,707.47, an increase from RMB 16,218,310,593.20 as of December 31, 2024[12]. - The total cash and cash equivalents at the end of the first quarter of 2025 is CNY 16,160,873,015.02, a decrease from CNY 18,774,966,952.39 at the end of the first quarter of 2024[20]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 153.24 billion, a slight decrease of 0.55% from CNY 154.09 billion at the end of the previous year[5]. - Total assets as of March 31, 2025, were RMB 153,236,416,731.72, slightly down from RMB 154,085,417,032.43 as of December 31, 2024[13]. - Total liabilities decreased to RMB 64,797,285,993.97 from RMB 67,264,716,570.15, a reduction of 3.47%[14]. - The company’s total liabilities increased to CNY 9,547,064,264.42 in the first quarter of 2025, compared to CNY 8,462,731,076.52 in the same period of 2024[20]. - Long-term borrowings decreased to RMB 25,052,906,464.97 from RMB 27,356,749,518.55, a decline of 8.41%[14]. Shareholder Equity - Shareholder equity attributable to shareholders was CNY 74.78 billion, an increase of 1.99% from CNY 73.32 billion at the end of the previous year[5]. - Shareholders' equity increased to RMB 88,439,130,737.75 from RMB 86,820,700,462.28, reflecting a growth of 1.86%[14]. Operational Efficiency - The company reported a significant increase in construction projects, with a 25.97% rise attributed to ongoing projects such as Jiaxing Phase IV and Aksu Thermal Power Photovoltaic[6]. - The company experienced a 33.85% decrease in selling expenses, primarily due to reduced expenses at Zhonglai Co.[7]. - Investment income decreased by 26.74%, mainly due to reduced returns from equity investments[7]. - Investment income for the first quarter of 2025 is CNY 902,548,222.83, a decrease of 26.7% compared to CNY 1,231,962,842.02 in the first quarter of 2024[17].