Gemdale(SH:600383)2021-04-29 16:00Financial Performance - Net profit attributable to shareholders was RMB 564.93 million, a decrease of 56.29% year-on-year, primarily due to the previous year's asset disposals that contributed approximately RMB 800 million to net profit[4] - Operating revenue for the period was RMB 7.33 billion, a slight decrease of 0.10% compared to the same period last year[4] - The weighted average return on equity decreased by 1.5 percentage points to 0.98%[4] - Basic earnings per share were RMB 0.13, a decrease of 55.17% compared to RMB 0.29 in the same period last year[4] - The company reported a significant decrease in investment income by 27.65% to 734,598,367.00 CNY due to reduced earnings from joint ventures[14] - The company reported no significant changes in net profit or losses compared to the previous year, indicating stability in financial performance[21] - Net profit for Q1 2021 was CNY 969,501,958.53, a decrease from CNY 2,248,079,383.84 in Q1 2020[28] - The net profit for Q1 2021 was CNY 969,501,958.53, a decrease from CNY 2,248,079,383.84 in Q1 2020, representing a decline of approximately 57.1%[29] - Total comprehensive income for Q1 2021 was CNY 1,033,517,907.98, compared to CNY 2,286,282,770.06 in Q1 2020, a decrease of approximately 54.8%[29] Assets and Liabilities - Total assets at the end of the reporting period reached approximately RMB 429.08 billion, an increase of 6.83% compared to the end of the previous year[4] - The total liabilities increased to approximately ¥333.85 billion from ¥307.59 billion, representing a rise of about 8.5%[25] - The company's total equity reached approximately ¥95.23 billion, compared to ¥94.04 billion at the end of 2020, indicating a growth of about 1.3%[25] - The company's cash and cash equivalents stood at ¥54.29 billion, slightly up from ¥54.20 billion at the end of 2020[23] - The inventory value as of March 31, 2021, was approximately ¥201.01 billion, up from ¥187.61 billion, indicating an increase of about 7.1%[23] - The company's accounts receivable increased to ¥482.86 million from ¥433.79 million, reflecting a growth of about 11.3%[23] - The company's contract liabilities increased to ¥110.05 billion from ¥94.49 billion, representing a growth of approximately 16.5%[24] Cash Flow - The company achieved a net cash flow from operating activities of RMB -5.13 billion, an improvement from RMB -8.58 billion in the same period last year[4] - The net cash flow from operating activities improved, with a net cash flow of -5,134,168,543.51 CNY, reflecting an increase in sales receipts[14] - In Q1 2021, the company reported cash inflows from operating activities totaling ¥59.59 billion, a significant increase from ¥31.21 billion in Q1 2020, representing an increase of approximately 90.5%[32] - The net cash outflow from operating activities was ¥5.13 billion in Q1 2021, an improvement compared to a net outflow of ¥8.58 billion in Q1 2020, indicating a reduction of approximately 40.5%[32] - The total cash outflow from operating activities was ¥64.73 billion in Q1 2021, compared to ¥39.78 billion in Q1 2020, which is an increase of approximately 62.7%[32] - The company reported a net cash increase of ¥97.43 million in Q1 2021, contrasting with a net decrease of ¥1.65 billion in Q1 2020, indicating a positive turnaround[33] Investments and Development - The company acquired 22 plots of land, increasing land reserves by approximately 3.02 million square meters, a year-on-year increase of 102%[8] - The total investment amount for new land reserves was approximately RMB 17.44 billion, up 65% year-on-year[8] - The company completed new construction area of approximately 2.89 million square meters, a year-on-year increase of 13.6%[9] - The company achieved a signed area of 2.98 million square meters, an increase of 133.62% year-on-year, with a signed amount of RMB 68.65 billion, up 143.39% year-on-year[9] - Research and development expenses for Q1 2021 were CNY 11,366,292.54, down from CNY 12,489,883.50 in Q1 2020[28] - The company achieved an investment income of CNY 10,471,278.87 in Q1 2021, a recovery from a loss of CNY -3,716,709.36 in Q1 2020[31] Financing Activities - Short-term borrowings increased by 30.03% to 3,633,981,658.50 CNY, indicating a rise in short-term financing[13] - The company issued a total of 8 billion CNY in short-term financing bonds with an interest rate of 3.10%[15] - The company completed the issuance of medium-term notes totaling 45 billion CNY with interest rates ranging from 3.88% to 3.98%[16] - The company established a medium-term note program with a scale of $2 billion, which is flexible in terms of currency and duration[21] - The company raised ¥17.57 billion through financing activities in Q1 2021, compared to ¥16.01 billion in Q1 2020, which is an increase of about 9.8%[33] - The net cash inflow from financing activities was ¥6.46 billion in Q1 2021, down from ¥7.77 billion in Q1 2020, indicating a decrease of approximately 16.9%[33]