Sichuan New Energy Power Company (000155) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 was ¥836.39 million, down 16.62% year-over-year due to lower wind and solar power output and market-driven electricity price declines.

• Net profit attributable to shareholders fell 43.03% year-over-year to ¥236.83 million, mainly from reduced high-margin renewable energy sales.

• Cash flow from operating activities increased 145.77% year-over-year to ¥222.55 million.

Financial highlights

• Gross margin pressure from a 31.17% drop in settlement electricity volume and a 3.95% decrease in settlement prices.

• Basic and diluted EPS both at ¥0.13, down 53.57% year-over-year.

• Total assets rose 11.90% from year-end 2024 to ¥28.23 billion; equity attributable to shareholders up 2.31%.

• Significant increase in operating costs (up 34.26%) due to new lithium project production.

Outlook and guidance

• Company expects continued impact from electricity market reforms and operational challenges in renewable energy output.