GREATTOWN(600094)2024-04-29 09:15Financial Performance - The company's operating revenue for Q1 2024 was CNY 345,794,280.11, representing a decrease of 76.94% compared to the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 40,450,377.95, with a significant decline in operating profit due to reduced sales area and no new completed projects[5][8]. - The net loss for Q1 2024 was ¥40,141,569.62, compared to a net profit of ¥94,982,473.39 in Q1 2023, indicating a shift in performance[21]. - Basic and diluted earnings per share were both reported at CNY -0.0174, indicating a loss for the period[5]. - Basic and diluted earnings per share for Q1 2024 were both -¥0.0174, compared to ¥0.0436 in Q1 2023, reflecting a negative shift in earnings[22]. - The company reported a gross profit margin of approximately -9.5% in Q1 2024, compared to a positive margin in Q1 2023[20]. Cash Flow - The net cash flow from operating activities was negative at CNY -385,175,810.48, primarily due to decreased sales collections and large one-time tax payments[8]. - In Q1 2024, the company's cash inflow from operating activities was CNY 595,508,858.37, a decrease of 71.1% compared to CNY 2,059,513,918.20 in Q1 2023[23]. - The net cash flow from operating activities in Q1 2024 was -CNY 385,175,810.48, contrasting with a positive CNY 882,301,733.23 in the same period last year[24]. - Total cash outflow from operating activities in Q1 2024 was CNY 980,684,668.85, down 16.7% from CNY 1,177,212,184.97 in Q1 2023[24]. - Cash inflow from investment activities was CNY 28,676,625.64 in Q1 2024, a decline of 50.8% from CNY 58,309,295.49 in Q1 2023[24]. - The net cash flow from investment activities was CNY 26,582,364.88, down 51.0% compared to CNY 54,297,095.49 in the previous year[24]. - Cash inflow from financing activities totaled CNY 284,595,844.65 in Q1 2024, significantly lower than CNY 968,050,000.00 in Q1 2023[24]. - The net cash flow from financing activities was -CNY 137,796,040.98, compared to a positive CNY 2,563,324.37 in the same quarter last year[24]. - The company's cash and cash equivalents at the end of Q1 2024 stood at CNY 1,335,652,014.90, down from CNY 2,945,398,491.96 at the end of Q1 2023[24]. - The total cash outflow for the quarter resulted in a net decrease of CNY 496,388,086.39 in cash and cash equivalents[24]. Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 24,693,681,364.42, down 2.50% from the end of the previous year[6]. - The total assets decreased from ¥25,326,101,115.43 in the previous quarter to ¥24,693,681,364.42 in Q1 2024, a decline of about 2.5%[18]. - Total liabilities decreased from ¥12,394,517,153.22 to ¥11,802,627,608.24, representing a reduction of approximately 4.8%[18]. - The equity attributable to shareholders decreased to CNY 12,488,264,689.95, a decline of 0.33% from the previous year[6]. - The equity attributable to shareholders decreased from ¥12,529,103,704.31 to ¥12,488,264,689.95, a decline of about 0.3%[18]. - The company has a total of 6,912,830,107.72 in non-current assets as of March 31, 2024[16]. Sales and Projects - The company reported a 53.24% decrease in sales area compared to the previous year, reflecting ongoing challenges in the real estate industry[8]. - The company did not have any new completed projects during the reporting period, contributing to the significant drop in revenue[8]. - The company is actively reducing land reserve investments in response to industry risks, leading to a 70.08% decrease in the area of projects delivered compared to the previous year[8]. - The company reported a total of 43,120.79 square meters in sales area for the current period, with 24,172.89 square meters recognized as revenue[13]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 55,908[11]. - The largest shareholder, Mingcheng Holdings Group Co., Ltd., holds 235,587,483 shares, representing 9.52% of total shares, with 119,798,179 shares pledged[11]. Other Financial Information - The company's inventory stood at ¥15,058,268,476.02, slightly up from ¥14,956,210,703.74[16]. - Long-term equity investments were reported at ¥1,056,993,895.93, a slight decrease from ¥1,061,519,702.93[16]. - Research and development expenses were not explicitly reported, indicating a potential area for future focus[21]. - The company experienced a significant increase in financial expenses, with Q1 2024 financial costs at ¥26,022,496.89 compared to ¥30,130,803.24 in Q1 2023[21]. - The company did not implement new accounting standards or interpretations affecting the financial statements for the year[25].