CSCEC(601668)2024-04-29 12:09Financial Performance - The company's operating revenue for Q1 2024 reached CNY 549,319,265, representing a year-on-year increase of 4.7%[4] - The total profit for the quarter was CNY 22,826,576, reflecting a growth of 1.1% compared to the same period last year[4] - Net profit attributable to shareholders was CNY 17,851,772, with a year-on-year increase of 1.2%[4] - Revenue for Q1 2024 reached RMB 549.3 billion, an increase of 4.7% compared to the same period last year[17] - The net profit attributable to shareholders was RMB 14.92 billion, reflecting a year-on-year growth of 1.2%[18] - The company achieved a new contract amount of RMB 1.19 trillion in Q1 2024, representing a year-on-year growth of 9.6%[14] - The gross profit from the housing construction business was RMB 22.61 billion, a 6.5% increase year-on-year[18] - The company reported a total comprehensive income of CNY 604,544 thousand for Q1 2024, compared to CNY 51,140 thousand in Q1 2023[32] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -96,595,019, attributed to reduced sales collections in the real estate sector and increased land acquisitions[4][8] - Cash inflows from operating activities amount to CNY 569,686,261, an increase from CNY 554,885,648 in the previous year[27] - The cash and cash equivalents decreased to RMB 339,161,285 from RMB 358,790,899, a decline of approximately 5.5%[21] - The cash inflow from operating activities showed a net outflow of CNY -2,699,024 thousand, compared to a smaller outflow of CNY -1,919,576 thousand in Q1 2023[33] - The cash inflow from borrowings was 9,700,000,000, while cash outflow for debt repayment was 8,725,000,000[34] - The total cash and cash equivalents decreased by 2,424,756,000 during the quarter[34] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,966,209,035, an increase of 2.2% from the previous year[5] - The total liabilities increased to RMB 2,217,604,957 in Q1 2024 from RMB 2,172,252,410 in Q4 2023, marking an increase of about 2.1%[22] - The total current assets reached RMB 2,093,735,717, compared to RMB 2,048,962,745 at the end of 2023, indicating a slight increase of about 2.2%[21] - The total non-current assets amounted to RMB 872,473,318, up from RMB 854,359,774, representing an increase of approximately 2.1%[21] - The total liabilities decreased to CNY 202,372,742 thousand from CNY 204,276,548 thousand, indicating a reduction of 0.9%[30] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 392,560[10] - The largest shareholder, China State Construction Engineering Corporation, holds 57.02% of the shares[10] - Shareholders' equity attributable to the parent company increased by 3.5% to CNY 442,677,608[5] - The company's total equity attributable to shareholders was RMB 442,677,608, an increase from RMB 427,609,892, reflecting a growth of about 3.5%[22] Investment and Contracts - The company signed new contracts worth RMB 272 billion in overseas markets, marking a significant year-on-year increase of 59.0%[19] - The new contract amount for housing construction projects was RMB 806.2 billion, with a year-on-year increase of 11.4%[14] - The new contract amount for energy engineering projects surged by 234.8% to RMB 940 million[16] - The company acquired approximately 1.62 million square meters of land reserves, primarily in first-tier and strong second-tier cities[14] Financial Ratios and Expenses - The weighted average return on equity decreased by 0.35 percentage points to 3.38%[5] - The company reported a decrease in financial expenses to RMB 4,586,535 from RMB 3,035,872, indicating a significant increase in interest expenses[24] - Research and development expenses were CNY 8,571 thousand, a significant decrease of 88.1% from CNY 72,055 thousand in the same quarter last year[31] - The financial expenses decreased to CNY 341,990 thousand from CNY 455,411 thousand, reflecting a reduction of 25%[31] Miscellaneous - The company did not apply new accounting standards or interpretations for the first time in 2024[34] - The impact of exchange rate changes on cash and cash equivalents was -28,656,000[34]