Hangzhou Steam Turnine Power Group (stock code: 200771) recently released its first quarter financial report for 2024, revealing the company's latest operating conditions in the complex and severe international and domestic development environment. As a long-term and stable operating enterprise, Hangzhou Steam Turnine Power Group has shown remarkable adaptability and development potential when facing economic challenges at home and abroad.
From the asset-liability data, Hangzhou Steam Turnine Power Group's total assets at the end of the period amounted to 16.373 billion yuan, a growth of approximately 2.79% compared to the beginning of the period of 15.928 billion yuan. This growth is mainly due to the stable expansion of the company's business and effective asset management. Meanwhile, the net assets have also increased, indicating the company's continued healthy financial condition. It is worth noting that the asset-liability ratio has remained basically stable, reflecting that Hangzhou Steam Turnine Power Group is also controlling financial risks while expanding its scale.
In terms of profit data, Hangzhou Steam Turnine Power Group achieved operating income of 10.593 billion yuan in the reporting period. Although it has decreased slightly compared to the same period last year, considering the current complex economic environment, this achievement is not easy. What is more eye-catching is that the company successfully reversed the loss situation of the same period last year in the reporting period, achieving a net profit attributable to shareholders of the listed company of nearly 100 million yuan, a year-on-year growth rate of 120.10%. This significant change is mainly due to the optimization of the structure of the drive unit sales and effective control of research and development expenses. In particular, the increase in the sales of driving units with high gross margins has injected new vitality into the company's profitability.
In terms of cash flow data, although the net cash flow from operating activities is negative, this is mainly due to the company's increased purchasing efforts, especially in the investment in combustion turbines and other areas. This strategic expenditure is expected to bring stronger growth momentum to the company in the future. At the same time, the net cash flow from investment activities and financing activities remained positive, demonstrating the company's flexibility in fund operation and its ability to raise funds through multiple channels.
Overall, Hangzhou Steam Turnine Power Group's performance in the first quarter of 2024 is commendable. Although it still faces challenges in some aspects, such as short-term pressure on operating cash flow, the company is working to transform these challenges into new opportunities for development with its strong market adaptability and innovative business strategy. Looking to the future, with the gradual recovery of domestic and foreign markets and changes in the industry's competitive landscape, Hangzhou Steam Turnine Power Group is expected to continue its stable operating trend and stand out in the fierce market competition.