WHEE(600475)2024-04-26 13:28Financial Performance - The company's operating revenue for Q1 2024 was CNY 2,899,668,071.95, representing a year-on-year increase of 31.44%[5]. - Net profit attributable to shareholders decreased by 15.61% to CNY 186,385,475.94, primarily due to reduced investment income from the company's stake in Gaojia Solar and increased competition in the boiler equipment market[5][11]. - The company reported a net profit of CNY 5,429,648,390.18, compared to CNY 5,243,262,914.24 in the previous period, marking an increase of approximately 3.55%[23]. - Net profit for Q1 2024 was CNY 251,543,500.79, slightly down from CNY 253,004,304.93 in Q1 2023[34]. - Basic and diluted earnings per share were both CNY 0.20, reflecting a decrease of 14.83% year-on-year[5]. - Earnings per share for Q1 2024 were CNY 0.20, compared to CNY 0.23 in Q1 2023[34]. - Total comprehensive income amounted to CNY 54,194,953.98, compared to CNY 78,019,290.02 in the previous period, indicating a decrease[61]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -168,916,236.42, a decline of 133.51% compared to the previous year, mainly due to increased prepayments for natural gas and material procurement[5][11]. - In Q1 2024, the company reported cash inflows from operating activities of CNY 3,165,035,451.53, an increase from CNY 2,375,546,803.67 in Q1 2023, representing a growth of approximately 33.2%[36]. - Cash inflows from investment activities totaled CNY 661,810,588.56 in Q1 2024, down from CNY 922,993,143.26 in Q1 2023, reflecting a decrease of about 28.3%[38]. - The net cash flow from investment activities was -CNY 435,412,016.87 in Q1 2024, slightly improved from -CNY 458,491,839.74 in Q1 2023[38]. - Cash inflows from financing activities increased to CNY 2,964,014,054.79 in Q1 2024, compared to CNY 2,192,300,000.00 in Q1 2023, marking a growth of approximately 35.2%[38]. - The cash flow statement indicates a healthy liquidity position, supporting ongoing operations and potential expansions[35]. Assets and Liabilities - The company's total assets at the end of the reporting period were CNY 26,144,877,703.96, showing a slight decrease of 0.14% from the end of the previous year[5]. - Total assets as of March 31, 2024, amounted to CNY 26,182,555,424.91, a slight increase from CNY 26,144,877,703.96 at the end of December 2023[24]. - The total liabilities as of March 31, 2024, were CNY 15,661,971,706.06, slightly up from CNY 15,884,788,654.28[24]. - The company’s total liabilities and equity reached CNY 13,862,761,767.22 as of Q1 2024, up from CNY 13,696,892,353.24 in Q1 2023[48]. - Current assets totaled CNY 10,411,377,698.61, compared to CNY 10,534,708,794.82 in the previous period, indicating a decrease of approximately 1.16%[21]. - The company’s total non-current assets amounted to CNY 15,771,177,726.30, an increase from CNY 15,610,168,909.14, reflecting a growth of about 1.03%[21]. - Total liabilities as of March 31, 2024, were RMB 6,385,212,867.03, up from RMB 6,275,057,772.30 at the end of 2023[59]. Shareholder Information - The total equity attributable to shareholders increased by 2.33% to CNY 8,325,914,049.68 at the end of the reporting period[5]. - The company had a total of 19,112 common shareholders at the end of the reporting period, with the largest shareholder holding 52.63% of the shares[12]. - The total equity attributable to shareholders reached CNY 8,519,525,028.78, up from CNY 8,325,914,049.68, representing an increase of about 2.33%[23]. - The company’s total equity increased to RMB 7,477,548,900.19 as of March 31, 2024, compared to RMB 7,421,834,580.94 at the end of 2023[59]. Investment and Acquisitions - The company completed the acquisition of three thermal power plants in May and June of the previous year, contributing to the increase in operating revenue[11]. - The company’s long-term equity investments were valued at CNY 2,051,754,515.54, a slight increase from CNY 2,038,824,690.08[21]. - Long-term equity investments increased to RMB 4,961,768,263.82 as of March 31, 2024, compared to RMB 4,947,916,207.66 at the end of 2023[57]. Research and Development - Research and development expenses for Q1 2024 totaled CNY 55,239,020.67, down from CNY 66,457,282.53 in Q1 2023[30]. - Research and development expenses decreased to RMB 24,586,875.11 in Q1 2024, down 33.8% from RMB 37,158,857.17 in Q1 2023[49]. Accounting Standards - The company is set to implement new accounting standards starting in 2024, which may impact financial reporting[65].