Gemdale(SH:600383)2018-04-27 16:00Financial Performance - Net profit attributable to shareholders rose by 25.73% to CNY 1.09 billion year-on-year[7] - Operating revenue for the period reached CNY 6.89 billion, an increase of 18.03% compared to the same period last year[7] - The basic earnings per share increased by 26.32% to CNY 0.24[7] - The net profit excluding non-recurring gains and losses was CNY 1.05 billion, reflecting a 22.20% increase year-on-year[7] - The company's total operating costs amounted to CNY 4,475,789,066.72, up from CNY 3,724,347,222.86, indicating a rise of approximately 20.2%[36] - The total profit for Q1 2018 was CNY 1,407,191,922.24, compared to CNY 1,327,820,942.97 in the previous year, indicating an increase of approximately 6%[36] - The total comprehensive income for Q1 2018 was CNY 1,081,218,125.19, slightly up from CNY 1,031,228,725.30 in the same quarter last year, representing a growth of about 4.8%[37] Assets and Liabilities - Total assets increased by 8.14% to CNY 224.86 billion compared to the end of the previous year[7] - The company's total assets as of March 31, 2018, were approximately RMB 186.59 billion, up from RMB 169.98 billion at the beginning of the year[27] - Total liabilities rose to ¥166,464,821,932.41 from ¥149,986,101,559.17, indicating an increase of 11.73%[29] - Current liabilities totaled ¥112,164,458,515.02, up from ¥104,494,064,425.87, reflecting a growth of 7.99%[33] - Non-current liabilities increased to ¥54,300,363,417.39 from ¥45,492,037,133.30, a rise of 19.00%[29] - The company's equity attributable to shareholders reached ¥41,539,903,955.30, compared to ¥40,764,057,949.39, an increase of 1.90%[29] Cash Flow - The company reported a net cash flow from operating activities of CNY -3.04 billion, an improvement from CNY -4.21 billion in the previous year[7] - The net cash flow from operating activities was -3,037,772,989.00 RMB, an improvement from -4,210,380,415.75 RMB in the previous period, indicating a reduction in cash outflow[42] - Total cash inflow from financing activities reached 16,609,317,868.55 RMB, significantly higher than 6,418,805,884.00 RMB in the prior period, reflecting increased borrowing and investment[43] - The company received 9,100,000,000.00 RMB from borrowings, which is an increase from 6,286,506,799.49 RMB in the previous period, highlighting reliance on debt financing[43] - The company paid 4,859,303,366.67 RMB in debt repayments, up from 2,994,643,534.18 RMB, reflecting a focus on reducing leverage[43] Construction and Projects - New construction area was approximately 2.71 million square meters, a year-on-year increase of about 131%[13] - Completed construction area was approximately 610,000 square meters, up 21% year-on-year[13] - The company has a total of 20 ongoing projects, with an average construction progress of 70%[14] - The highest construction progress is observed in Guangzhou Lihucheng at 99%[14] - The total planned area for ongoing projects is approximately 6.5 million square meters, with a total building area of about 8.5 million square meters[14] Market Expansion and Strategy - The company has initiated new projects in cities like Yantai and Qingdao, contributing to its market expansion strategy[15] - The company is focusing on residential projects, with 85% of its ongoing projects categorized as residential[14] - The company plans to enhance its product offerings by introducing new residential complexes in key urban areas[15] - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its portfolio[15] Shareholder Information - The company has a total of 69,155 shareholders as of the report date[11] Investment and Income - Investment income decreased by 34.35% to approximately RMB 147.6 million, attributed to reduced profits from joint ventures[21] - The total rental income from commercial and office properties was RMB 17.1 million, with a fair value measurement of 1.4%[19] - The company reported a significant decrease in prepayments by 47.68%, from RMB 3.47 billion to RMB 1.82 billion, due to transfers to inventory[21]