Jinko Power(601778)2024-04-29 14:51Financial Performance - The net profit attributable to shareholders decreased by 506.73% due to a decline in investment income from the disposal of power plants[22]. - Basic and diluted earnings per share both decreased by 400.00%[22]. - The company reported a net loss attributable to shareholders of ¥73,767,392.78 in Q1 2024, compared to a profit of ¥14,004,544.39 in Q1 2023[44]. - Basic and diluted earnings per share for Q1 2024 were both -¥0.03, down from ¥0.01 in Q1 2023[44]. - The company recorded a net loss of ¥96.69 million for the quarter, compared to a profit of ¥26.67 million in the same period last year[62]. Assets and Liabilities - The total assets of Jinko Power Technology Co., Ltd. as of March 31, 2024, amounted to CNY 41,709,755,418.29, an increase from CNY 41,044,613,956.04 as of December 31, 2023, reflecting a growth of approximately 1.6%[19]. - The total liabilities decreased to CNY 26,162,823,821.67 from CNY 27,355,454,034.60, showing a decrease of about 4.4%[19]. - The total current liabilities decreased to CNY 9,014,514,623.74 from CNY 9,628,596,928.81, reflecting a decline of about 6.4%[19]. - Long-term borrowings increased to CNY 7,600,745,174.17 from CNY 6,793,694,393.32, indicating a rise of approximately 11.9%[19]. - The total liabilities at the end of the reporting period were not specified, but the company reported a significant increase in inventory to ¥4.62 billion, up from ¥3.70 billion[61]. Cash Flow - Net cash flow from operating activities for Q1 2024 was -¥171,019,746.43, an improvement from -¥1,043,681,545.83 in Q1 2023[42]. - Net cash flow from investing activities for Q1 2024 was -¥827,689,193.74, compared to -¥760,491,159.96 in Q1 2023[47]. - Net cash flow from financing activities for Q1 2024 was ¥324,845,933.65, a significant decrease from ¥3,490,744,441.91 in Q1 2023[47]. - Cash inflow from operating activities was ¥518,048,373.13 in Q1 2024, compared to ¥671,376,821.77 in Q1 2023[44]. - The company experienced a net cash decrease of ¥674,520,199.44 in Q1 2024, contrasting with an increase of ¥1,694,074,367.36 in Q1 2023[47]. Shareholder Information - The company reported a total of 10 major shareholders, with the largest being China Agricultural Bank, holding 14,651,312 shares, representing 0.41% of total shares[13]. - The largest shareholder, Jinko Solar Group Co., Ltd., holds 23.90% of the shares[22]. - The number of common shareholders at the end of the reporting period was 135,823[22]. Revenue and Costs - Total operating revenue for Q1 2024 was ¥777,734,696.76, a decrease of 4.9% compared to ¥818,066,172.41 in Q1 2023[42]. - Total operating costs for Q1 2024 were ¥833,002,359.02, down 1.3% from ¥843,844,325.72 in Q1 2023[42]. Government Support and R&D - The company received government subsidies amounting to CNY 3,662,243.31, which are recognized as recurring income due to their compliance with national policy standards[7]. - The company is committed to ongoing research and development of new products and technologies to enhance market expansion and competitiveness[6]. - Research and development expenses amounted to ¥1.45 million, up from ¥1.24 million year-over-year[62]. Projects and Initiatives - The company has ongoing projects including a 70MWp agricultural-photovoltaic project and a 50MW/100MWh energy storage project[27]. - The company is accelerating the construction of the Hainan project after delays in approval processes[27]. - The company confirmed that all fundraising projects from its IPO have been completed and are in use[27].