Linyang Energy(601222)2024-04-26 12:56Financial Performance - Jiangsu Linyang Energy Co., Ltd. reported a 45.95% increase in operating revenue, attributed to higher sales from power stations and energy storage systems[7]. - Total operating revenue for Q1 2024 reached ¥1,554,242,390.29, a significant increase of 46.0% compared to ¥1,064,878,236.67 in Q1 2023[33]. - The company reported a total profit of ¥261,434,993.93 for Q1 2024, an increase of 7.5% from ¥243,934,965.61 in Q1 2023[33]. - Net profit attributable to shareholders of the listed company was CNY 217,877,660.89, an increase of 10.78% year-on-year[51]. - The net profit after deducting non-recurring gains and losses was CNY 198,053,968.09, reflecting an 8.71% increase from the previous year[51]. - Operating profit for Q1 2024 was ¥253,377,671.38, slightly up by 3.0% from ¥243,692,125.60 in Q1 2023[33]. - The company's comprehensive income totalled CNY 214,287,825.39 for the quarter, compared to CNY 202,719,945.74 in Q1 2023[51]. - The basic and diluted earnings per share were both CNY 0.11, up 10.00% from the same period last year[51]. Cash Flow and Assets - The net cash flow from operating activities was noted to be low in the first quarter due to delayed payments from power station sales, with expectations for improved cash flow in the second and third quarters[7]. - The net cash flow from operating activities was negative at CNY -323,518,315.05, indicating a significant change from the previous year's positive cash flow[51]. - Cash inflow from investment activities was CNY 1,839,116,023.58, down from CNY 2,887,609,321.90 in the same quarter last year[47]. - Cash and cash equivalents at the end of Q1 2024 totaled ¥4,180,887,912.45, compared to ¥4,466,386,035.17 at the end of Q1 2023[36]. - The company’s cash and cash equivalents were reported at RMB 4,757,741,956.30, down from RMB 4,929,655,280.71 year-over-year[13]. - The total current assets amounted to RMB 13,356,173,445.08, a slight decrease from RMB 13,652,142,700.31 at the end of the previous year[13]. - The total assets of the company as of Q1 2024 were RMB 23,016,113,249.89, compared to RMB 23,185,872,521.48 previously[31]. - Total assets at the end of Q1 2024 were CNY 23,016,113,249.89, a decrease of 0.73% from the end of the previous year[52]. Liabilities and Equity - The total liabilities of Jiangsu Linyang Energy Co., Ltd. as of Q1 2024 amounted to RMB 7,178,822,760.79, a decrease from RMB 7,602,329,737.06 in the previous period[31]. - The total current liability of RMB 4,949,110,025.51, compared to RMB 5,400,561,053.11 in the previous period[31]. - The long-term borrowings stood at RMB 1,880,368,711.97, slightly down from RMB 1,895,996,293.97[31]. - The total equity attributable to shareholders reached RMB 15,743,480,343.28, up from RMB 15,486,938,064.03[31]. - Shareholders' equity attributable to the listed company was CNY 15,743,480,343.28, showing a 1.66% increase compared to the end of the previous year[52]. Shareholder Information - As of the end of the reporting period, the company held 18,949,000 shares in its repurchase account, representing 0.92% of the total share capital[9]. - The company has not reported any significant changes in its top ten shareholders due to the absence of stock lending activities[11]. - The controlling shareholder, Qidong Huahong Electronics Co., Ltd., increased its stake by acquiring 4,480,300 shares, accounting for 0.22% of the total share capital, for a total amount of RMB 29,159,300[28]. - The company completed a non-trading transfer of 21,956,999 shares under the 2022 employee stock ownership plan at a price of RMB 5.50 per share[28]. - The first unlock period of the employee stock ownership plan allows for the release of 5,812,799 shares, representing 0.28% of the total share capital[28]. Research and Development - Research and development expenses for Q1 2024 were ¥63,240,757.33, up 38.8% from ¥45,564,709.29 in Q1 2023[33]. - The company is focused on expanding its market presence and enhancing its product offerings, particularly in the energy sector[22]. Other Financial Metrics - The company incurred financial expenses of ¥11,182,165.70 in Q1 2024, a decrease of 66.0% from ¥32,832,855.26 in Q1 2023[33]. - The weighted average return on net assets was 1.39%, an increase of 0.07 percentage points year-on-year[51]. - The company recorded non-recurring gains totaling RMB 19,823,692.80, after accounting for tax impacts and minority interests[6]. - The company’s capital reserve increased to RMB 7,611,003,446.17 from RMB 7,606,962,554.26[31]. - The company’s retained earnings rose to RMB 5,789,790,085.38 from RMB 5,571,912,424.49[31].