Gemdale(SH:600383)2020-04-28 16:00Financial Performance - Net profit attributable to shareholders decreased by 13.73% to CNY 1.29 billion year-on-year[4] - Operating revenue fell by 33.98% to CNY 7.34 billion compared to the same period last year[4] - The net cash flow from operating activities was CNY -8.58 billion, a significant decline from CNY -4.82 billion in the previous year[4] - The weighted average return on equity decreased by 0.7 percentage points to 2.48%[4] - The basic earnings per share decreased by 12.12% to CNY 0.29[4] - The net profit excluding non-recurring gains and losses dropped by 77.30% to CNY 329.05 million[4] - The company's operating revenue for Q1 2020 was approximately ¥7.34 billion, a decrease of 33.98% compared to the previous period[24] - Total revenue for Q1 2020 was 7,338,102,976.96, a decrease of 34.5% compared to 11,114,742,315.83 in Q1 2019[36] - Net profit for Q1 2020 was 2,248,079,383.84, an increase of 22.6% from 1,833,841,651.35 in Q1 2019[37] - Operating profit for Q1 2020 was 2,956,955,904.76, up from 2,477,826,270.13 in Q1 2019, representing a growth of 19.4%[36] Assets and Liabilities - Total assets increased by 5.94% to CNY 354.70 billion compared to the end of the previous year[4] - The company's total liabilities reached CNY 274.82 billion, up from CNY 252.45 billion at the end of 2019, indicating an increase of about 8.8%[30] - The company's total equity attributable to shareholders decreased to CNY 52.85 billion from CNY 54.09 billion, a decline of approximately 2.3%[30] - The cash and cash equivalents decreased to CNY 43.47 billion from CNY 45.14 billion, reflecting a decline of approximately 3.7%[28] - The company's inventory increased to CNY 149.86 billion, compared to CNY 139.78 billion at the end of 2019, marking a rise of about 7.9%[28] - The company's accounts receivable increased to CNY 306.31 million from CNY 285.71 million, reflecting a growth of about 7.2%[28] - The company's prepayments surged to CNY 1.06 billion from CNY 556.17 million, indicating an increase of approximately 90.5%[28] - The company's long-term borrowings rose significantly to CNY 33.56 billion from CNY 27.59 billion, an increase of approximately 21.5%[30] Construction and Projects - The company commenced construction on approximately 2.54 million square meters, a decrease of about 12% year-on-year, and completed approximately 830,000 square meters, down 34% year-on-year[9] - The company has ongoing residential projects in Dongguan, with a total planned construction area of 1,052,000 square meters across multiple sites[11] - The company has ongoing projects in Zhuhai, with a total planned construction area of 257,517 square meters[11] - The company has ongoing projects in Kunming with a total planned construction area of 325,514 square meters[11] - The company has ongoing construction projects in various locations, with a total planned construction area of 2,200,000 square meters across multiple residential developments[12] - The company is expanding its market presence with multiple projects under construction, including residential and commercial developments across various districts in Beijing[12] - The company has multiple ongoing residential projects across various districts, with the highest equity ratio being 99% for Tianjin Jiaze Garden[13] - The company has ongoing projects in Jiangning District, Nanjing, with a total of 1,612 square meters signed in Q1 2020, generating a contract amount of 3,709 million[15] - The company has ongoing projects in Chengdu, including a residential project with a planned area of 139,948 square meters[17] Financial Management - The company issued four short-term financing bonds totaling ¥40 billion with interest rates ranging from 2.60% to 2.83%[25] - The company reported a significant increase in investment income, reaching ¥1.02 billion, up 1144.97% from the previous period[24] - The company's management expenses increased by 20.84% to approximately ¥726.45 million, attributed to company expansion[24] - The company’s financial expenses rose by 81.21% to approximately ¥98.56 million, mainly due to increased interest expenses[24] - The company reported a significant increase in financial expenses, totaling 45,403,755.33 in Q1 2020, compared to -4,801,241.01 in Q1 2019[38] Market Expansion - The company is focusing on expanding its market presence in the Tianjin and Yantai regions with multiple new projects[13] - The company is actively expanding its market presence with new projects in cities like Nanjing and Taiyuan, indicating growth potential[14] - The company is leveraging its strong market position to drive future growth through ongoing and upcoming residential projects[16] - The company is expanding its market presence with new residential projects in various regions, focusing on high-demand areas[19]