PDH(600048)2024-10-28 11:08Revenue and Profit Performance - Revenue for the third quarter decreased by 21.62% year-over-year to RMB 18,277,438.72 thousand[2] - Net profit attributable to shareholders of the listed company dropped by 63.31% year-over-year for the third quarter[2] - The decrease in net profit is primarily due to a decline in gross margin and the scale of sales returns[4] - Basic earnings per share decreased by 62.53% year-over-year to RMB 0.66[2] - The company's contracted sales amount for the first three quarters of 2024 was 241.686 billion yuan, a year-on-year decrease of 27.89%[7] - The company's revenue for the first three quarters of 2024 was 182.774 billion yuan, a year-on-year decrease of 5.06%[7] - The net profit attributable to shareholders for the first three quarters of 2024 was 7.813 billion yuan, a year-on-year decrease of 41.23%[7] - Total operating revenue for the first three quarters of 2024 was RMB 182.77 billion, a decrease of 5.1% compared to RMB 192.55 billion in the same period of 2023[13] - Net profit attributable to the parent company's shareholders was RMB 7.81 billion, a decrease of 41.2% compared to RMB 13.29 billion in the same period of 2023[14] - Revenue for the first three quarters of 2024 reached RMB 233.41 billion, a 13.6% increase compared to RMB 205.52 billion in the same period of 2023[20] - Net profit for the first three quarters of 2024 was RMB 3.97 billion, a 36.2% decrease from RMB 6.22 billion in the same period of 2023[20] - Total comprehensive income for the first three quarters of 2024 was RMB 3.97 billion, a 36.6% decrease from RMB 6.25 billion in the same period of 2023[21] Cash Flow and Operating Activities - Net cash flow from operating activities decreased by 334.20% year-over-year to RMB -1,598,177.68 thousand[2] - The significant decrease in operating cash flow is attributed to reduced sales returns and increased land payments for expansion projects compared to the previous year[4] - The company's sales collection rate for the first three quarters of 2024 was 91%, with a total collection of 219.6 billion yuan[7] - Operating cash flow for the first three quarters of 2024 was negative RMB 15.98 billion, compared to positive RMB 6.82 billion in the same period of 2023[15] - Sales of goods and services generated cash inflows of RMB 185.87 billion, a decrease of 24.6% compared to RMB 246.65 billion in the same period of 2023[15] - Total cash inflows from operating activities were RMB 220.23 billion, down 24.5% from RMB 291.75 billion in the same period of 2023[15] - Cash outflows for purchasing goods and services were RMB 157.66 billion, a decrease of 9.9% compared to RMB 174.97 billion in the same period of 2023[15] - Cash outflows for taxes and fees were RMB 23.17 billion, down 28.6% from RMB 32.46 billion in the same period of 2023[15] - Operating cash flow for the first three quarters of 2024 was negative RMB 11.86 billion, compared to negative RMB 7.62 billion in the same period of 2023[22] Asset and Liability Changes - Total assets decreased by 4.38% compared to the end of the previous year to RMB 143,691,179.03 thousand[2] - The company's total assets at the end of the third quarter of 2024 were 1,373.944 billion yuan, a decrease of 4.38% compared to the end of the previous year[7] - Total assets decreased to 1,373.94 billion yuan from 1,436.91 billion yuan, a decline of 4.38%[9][10][11] - Current assets decreased to 1,200.27 billion yuan from 1,268.54 billion yuan, a decline of 5.38%[9] - Inventory decreased to 832.44 billion yuan from 869.51 billion yuan, a decline of 4.26%[9] - Long-term equity investments increased to 105.38 billion yuan from 104.30 billion yuan, a growth of 1.04%[9] - Total liabilities decreased to 1,028.94 billion yuan from 1,099.89 billion yuan, a decline of 6.45%[10] - Current liabilities decreased to 732.62 billion yuan from 813.73 billion yuan, a decline of 9.97%[10] - Long-term borrowings increased to 239.90 billion yuan from 235.25 billion yuan, a growth of 1.98%[10] - Total equity increased to 345.00 billion yuan from 337.03 billion yuan, a growth of 2.37%[11] - Retained earnings increased to 160.69 billion yuan from 157.92 billion yuan, a growth of 1.75%[11] - Minority interests increased to 144.25 billion yuan from 138.48 billion yuan, a growth of 4.17%[11] - The company's asset-liability ratio at the end of the third quarter of 2024 was 74.89%, a decrease of 1.66 percentage points compared to the end of the previous year[7] - Total assets increased to 351,778,632,246.49 from 327,586,476,397.47 at the end of the previous year[18] - Other receivables rose to 307,346,529,139.38, up from 280,106,080,996.75 at the end of the previous year[18] - Total liabilities increased to 302,090,321,675.00 from 276,073,867,014.27 at the end of the previous year[19] - Short-term borrowings due within one year increased to 20,277,004,535.83 from 13,831,070,794.22[19] - Total equity decreased to 49,688,310,571.49 from 51,512,609,383.20 at the end of the previous year[19] - Undistributed profits decreased to 12,034,252,194.58 from 13,108,657,468.93[19] Investment and Financing Activities - Cash inflows from investment activities were RMB 4.63 billion, a slight decrease of 1.1% compared to RMB 4.68 billion in the same period of 2023[15] - Cash outflows for investment activities were RMB 4.88 billion, an increase of 36.5% compared to RMB 3.58 billion in the same period of 2023[15] - Net cash flow from investment activities was -479,817,001.68, a significant decrease compared to the previous period's 2,603,197,359.44[16] - Total cash inflow from financing activities reached 124,134,958,344.26, up from 104,620,949,077.01 in the previous period[16] - Cash and cash equivalents at the end of the period stood at 126,280,472,948.67, down from 146,615,882,679.48 at the beginning[16] - Investment cash flow for the first three quarters of 2024 was positive RMB 5.71 billion, a 15.2% decrease from RMB 6.73 billion in the same period of 2023[22] - Financing cash flow for the first three quarters of 2024 was positive RMB 3.89 billion, compared to negative RMB 12.50 billion in the same period of 2023[22] - Total cash and cash equivalents at the end of Q3 2024 were RMB 9.31 billion, a 44.4% decrease from RMB 16.76 billion at the end of Q3 2023[23] - Interest expenses for the first three quarters of 2024 were RMB 1.94 billion, a 3.6% increase from RMB 1.87 billion in the same period of 2023[20] - Investment income for the first three quarters of 2024 was RMB 5.54 billion, a 23.7% decrease from RMB 7.25 billion in the same period of 2023[20] Shareholder and Equity Information - The company's equity attributable to shareholders increased by 1.11% compared to the end of the previous year to RMB 19,854,309.69 thousand[2] - The company repurchased 105,031,578 shares, accounting for 0.88% of the total shares[5] - The top shareholder, Poly Southern Group Co., Ltd., holds 4,511,874,673 shares, representing 37.69% of the total shares[5] - Weighted average return on equity decreased by 2.79 percentage points to 3.90%[2] Non-Recurring Items and Government Subsidies - Non-recurring gains and losses for the period amounted to RMB 137,462,015.92, with government subsidies contributing RMB 60,215,335.91[3] Sales and Construction Performance - The contracted sales area for the first three quarters of 2024 was 13.4962 million square meters, a year-on-year decrease of 29.66%[7] - The company's new construction area for the first three quarters of 2024 was 8.56 million square meters, a year-on-year decrease of 20.0%[7]