Greenland Holdings(600606)2024-04-29 12:27Financial Performance - The company's operating revenue for Q1 2024 was ¥51,567,755,124.46, representing a decrease of 34.56% compared to the same period last year[4]. - The net profit attributable to shareholders of the listed company was ¥82,032,393.66, down 95.88% year-on-year[4]. - Basic earnings per share were ¥0.01, a decrease of 92.86% compared to the previous year[4]. - The company reported non-recurring losses totaling -¥134,180,939.20 for the period[5]. - The decline in operating revenue and net profit was primarily due to a sluggish real estate and infrastructure industry, with fewer project completions[7]. - The net profit attributable to shareholders was 0.82 billion CNY, reflecting a decline compared to the same period last year[12]. - Operating profit for Q1 2024 was approximately 3.60 billion in Q1 2023[25]. - The company reported a total profit of approximately 3.31 billion in Q1 2023[26]. - Operating profit for Q1 2024 was -¥19,810,767.49, slightly worse than -¥19,605,020.43 in Q1 2023[34]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥2,418,217,581.39, reflecting a decline of 290.93%[4]. - Cash flow from operating activities showed a net outflow of approximately 1.27 billion in Q1 2023[27]. - The company's cash and cash equivalents decreased to ¥30,856,172,111.93 from ¥37,128,867,859.10, representing a decline of approximately 17%[20]. - The company's cash and cash equivalents at the end of the period totaled ¥21,231,378,688.40, down from ¥39,124,011,535.04 a year earlier[28]. - The company reported a net increase in cash and cash equivalents of -¥2,608,738,428.09, compared to -¥3,965,167,796.74 in the same quarter last year[28]. Assets and Liabilities - Total assets at the end of the reporting period were ¥1,196,971,297,496.65, an increase of 0.26% from the end of the previous year[4]. - The total current assets reached ¥1,017,551,170,517.82, compared to ¥1,011,526,517,415.56 in December 2023, indicating an increase of about 0.4%[22]. - The total liabilities stood at ¥1,053,316,937,231.97, up from ¥1,048,767,691,705.46, marking an increase of around 0.34%[23]. - The company's total equity decreased to ¥79,972,484,061.79 from ¥80,339,661,472.00, a decline of approximately 0.46%[23]. - The total assets of the company as of March 31, 2024, amounted to ¥79,905,966,591.86, compared to ¥79,905,954,265.98 at the end of 2023[31]. - The total liabilities of the company were ¥2,267,228,236.95, an increase from ¥2,247,405,143.58 in the previous year[31]. - The company's total equity decreased to ¥77,638,738,354.91 from ¥77,658,549,122.40 year-over-year[32]. Shareholder Information - The company had a total of 113,863 common shareholders at the end of the reporting period[8]. - The top three shareholders held a combined 72.25% of the company's shares, indicating significant ownership concentration[8]. Sector Performance - In Q1 2024, the company achieved total revenue of 51.6 billion CNY, with the real estate sector contributing 17.2 billion CNY and the infrastructure sector contributing 25.2 billion CNY[12]. - The company recorded sales amounting to 13.2 billion CNY and cash collections of 15.4 billion CNY in the real estate sector during Q1 2024[13]. - A total of 3.9 million square meters were delivered in Q1 2024, enhancing customer satisfaction in project delivery[13]. - The infrastructure sector generated revenue of 25.2 billion CNY, with new contracts signed totaling 43 billion CNY in Q1 2024[15]. - The company signed contracts for major projects worth 42 billion CNY, including the Zhenghui Expressway and the Xianyang Jinghe New City renovation[15]. Cost Management - The financing cost was reduced to 5.54%, a decrease of 0.05 percentage points from the beginning of the year, through improved communication with financial institutions[18]. - The company's inventory was reported at ¥558,815,633,917.15, down from ¥567,898,224,871.66, indicating a decrease of about 1.4%[20]. - The long-term borrowings increased to ¥78,550,679,897.33 from ¥74,938,043,526.63, showing an increase of approximately 4.4%[23]. - Total operating costs for Q1 2024 were approximately 76.78 billion in Q1 2023[25]. Research and Development - Research and development expenses for Q1 2024 were approximately 225.37 million in Q1 2023[25]. - The company is actively investing in new technologies and product development to enhance its competitive edge in the market[24]. Future Outlook - The company's total revenue for Q1 2024 is yet to be disclosed, but the focus remains on improving operational efficiency and market expansion strategies[24]. - The company is actively developing a city construction operation integrated service platform, leveraging existing resources in real estate and infrastructure[16]. - The company has included 64 projects in the "white list" for financing under the real estate financing coordination mechanism[18].