宁沪高速(600377) - 2025 Q1 - 季度财报

Financial Performance - The company's operating revenue for Q1 2025 was CNY 4,781,525,555.03, representing a year-on-year increase of 37.66% compared to CNY 3,473,393,457.30 in the same period last year[4]. - The net profit attributable to shareholders of the listed company decreased by 2.88% to CNY 1,210,866,236.48 from CNY 1,246,836,155.30 in the previous year[4]. - The basic and diluted earnings per share were both CNY 0.2404, reflecting a decrease of 2.88% compared to CNY 0.2475 in the same period last year[4]. - The company reported a total comprehensive income of CNY 1,080,176,529.13 for Q1 2025, down from CNY 1,987,076,378.89 in Q1 2024, representing a decline of 45.5%[27]. - The company reported a total operating profit of approximately CNY 1,586,211 thousand for Q1 2025, a decline of 4.02% year-on-year, with net profit attributable to shareholders at CNY 1,210,866 thousand, down 2.88%[16]. Cash Flow and Assets - The net cash flow from operating activities increased by 4.48% to CNY 1,713,194,681.50 from CNY 1,639,672,583.68 in the previous year[4]. - The company's total assets as of March 31, 2025, amounted to CNY 91,484,769,001.36, an increase from CNY 89,886,075,247.13 at the end of 2024[21]. - Current liabilities decreased to CNY 13,757,114,771.77 from CNY 16,186,507,091.14 year-on-year[22]. - Non-current liabilities increased to CNY 26,761,864,647.64 from CNY 23,965,580,035.62 year-on-year[22]. - The cash and cash equivalents at the end of Q1 2025 were CNY 727,739,684.05, a decrease from CNY 784,188,898.65 at the end of Q1 2024[29]. Revenue Breakdown - The company achieved total operating revenue of approximately RMB 4,781,526 thousand, representing a year-over-year growth of about 37.66%[12]. - Excluding construction revenue, the operating revenue was approximately RMB 2,984,235 thousand, showing a slight decline of about 0.72% compared to the previous year[12]. - Toll road business generated revenue of approximately RMB 2,326,727 thousand, with a year-over-year increase of about 2.25%[12]. - Construction period revenue reached approximately RMB 1,797,290 thousand, marking a significant year-over-year growth of about 284.55%[12]. - Power sales revenue decreased to approximately RMB 171,711 thousand, down about 17.23% year-over-year due to weather impacts[13]. - Real estate business revenue fell to approximately RMB 18,040 thousand, a decline of about 76.02% year-over-year as the company reduced its real estate operations[13]. Traffic and Operations - The average daily traffic for the company's toll road network was 73,558 vehicles, reflecting a slight decrease of 0.56% year-over-year[14]. - The average daily income from the Ningchang Expressway was RMB 2,595.54 thousand, down 9.96% year-over-year[14]. - The company operates 11 toll road projects, with varying traffic and revenue performance across different routes[14]. - Total traffic volume decreased by 21.17% to 23,270 vehicles per day, while average daily revenue increased by 7.51% to CNY 346.88 thousand per day[15]. - For Wufengshan Bridge, total traffic volume was 49,125 vehicles per day, down 4.66%, with average daily revenue at CNY 2,692.03 thousand, a decrease of 6.27%[15]. Investments and Financial Activities - The company incurred financial expenses of CNY 219,649,147.18 in Q1 2025, down from CNY 246,435,277.03 in Q1 2024, showing a reduction of 10.9%[26]. - Investment activities resulted in a net cash outflow of CNY 2,794,548,425.03 in Q1 2025, compared to a net outflow of CNY 2,238,250,411.49 in Q1 2024, indicating an increase in investment spending[28]. - The company raised CNY 4,583,160,000.00 through borrowings in Q1 2025, slightly down from CNY 4,741,695,000.00 in Q1 2024[29]. - The company has approved a cash increase of CNY 10,851.72 thousand to its subsidiary Wufengshan Bridge Company, with other shareholders contributing proportionally[18]. Future Outlook - The completion of the Ningyang Yangtze River Bridge in January 2025 is expected to enhance the company's market position and operational scale in the regional road network[17].