万科A(000002) - 2024 Q1 - 季度财报

Financial Performance - Revenue for the first quarter of 2024 was RMB 61.594 billion, a decrease of 10.05% year-over-year[3] - Net profit attributable to shareholders was a loss of RMB 361.967 million, down 125.04% compared to the same period last year[3] - Total revenue for the quarter was RMB 61.59 billion, a decrease of 10.0% year-over-year[12] - Net profit attributable to shareholders was RMB -360 million, a decrease of 125.0% year-over-year[12] - Operating revenue declined from 68.47 billion to 61.59 billion, a decrease of 10.1%[23] - Net profit dropped significantly from 2.83 billion to 331.29 million, a decrease of 88.3%[24] - Earnings per share (basic) turned negative at -0.0305 compared to 0.1251 in the previous period[24] Cash Flow and Financing - Operating cash flow was negative RMB 9.421 billion, a decrease of 234.57% year-over-year[3] - Cash flow from financing activities was negative RMB 894.458 million, a decrease of 138.52% year-over-year[7] - Cash flow from operating activities turned negative at -9.42 billion compared to a positive 7.00 billion in the previous period[25] - Cash and cash equivalents decreased by 16.12 billion, resulting in a closing balance of 80.82 billion[26] - Cash flow from investing activities improved to 2.22 billion from -337.01 million in the previous period[25] - The company's new financing cost in Q1 was 3.33%, and it actively utilized financing tools like operating property loans and integrated into the urban real estate financing coordination mechanism[19] Assets and Liabilities - Total assets decreased by 2.72% to RMB 1.464 trillion compared to the end of the previous year[3] - Short-term borrowings increased by 85.72% to RMB 197.52 billion due to new short-term loans[6] - The company's total assets as of March 31, 2024, were 1.4639 trillion yuan, with current assets at 1.1111 trillion yuan and non-current assets at 352.8 billion yuan[20][21] - The company's total liabilities as of March 31, 2024, were 1.0643 trillion yuan, with current liabilities at 802.4 billion yuan and non-current liabilities at 261.96 billion yuan[21] - Total liabilities decreased from 1,101.92 billion to 1,064.34 billion, a reduction of 3.4%[22] - Total equity decreased slightly from 402.93 billion to 399.53 billion, a reduction of 0.8%[22] Business Segments - Revenue from real estate development business was RMB 46.67 billion, down 13.8% year-over-year[12] - Revenue from operating services business was RMB 10.95 billion, up 12.0% year-over-year[12] - Gross margin for real estate development business was 10.5%, down 6.7 percentage points year-over-year[12] - Gross margin for operating services business was 18.9%, up 5.4 percentage points year-over-year[12] - Contract sales area was 3.911 million square meters, down 37.5% year-over-year[14] - Contract sales amount was RMB 57.98 billion, down 42.8% year-over-year[14] - Total land reserves under construction were 56.757 million square meters, with equity area of 35.929 million square meters[14] - Total land reserves under planning were 31.690 million square meters, with equity area of 20.195 million square meters[14] - The leasing residential business achieved revenue of 833 million yuan in Q1, a year-on-year increase of 7.3%, with 7,121 new units added and 3,006 units newly opened in cities like Shenzhen and Guangzhou[15] - The leasing residential business managed 238,000 long-term rental apartments by the end of Q1, with a cumulative opening of 179,500 units and an occupancy rate of 93.9%[15] - The logistics and warehousing business generated revenue of 970 million yuan in Q1, a year-on-year increase of 1.0%, with high-standard warehouse revenue at 530 million yuan and cold chain revenue at 430 million yuan[15] - The logistics and warehousing business added 85,000 square meters of leasable area in Q1, bringing the total leasable area to 10.202 million square meters, with high-standard warehouses at 8.504 million square meters and cold chain at 1.698 million square meters[15] - The commercial development and operation business achieved revenue of 2.38 billion yuan in Q1, a year-on-year increase of 2.3%, with Yingli-managed projects contributing 1.43 billion yuan, up 4.8% year-on-year[17] - Yingli's "Fa Fa Season" event during the Spring Festival boosted customer traffic by 36% and sales by 26% year-on-year across 164 projects in 53 cities[18] Investments and Transactions - Investment income increased by 79.97% to RMB 104.014 million due to the disposal of certain investments[7] - Fair value change losses were RMB 915.89 million, a decrease of 102.90% year-over-year[7] - The company completed large-scale asset transactions worth 4.2 billion yuan in Q1, including a 50% stake sale in Shanghai Qibao Vanke Plaza for 2.384 billion yuan[19] Shareholder Information - Shenzhen Metro Group holds 27.18% of the company's shares, making it the largest shareholder[8] - HKSCC Nominees Limited holds 18.49% of the company's shares, making it the second-largest shareholder[8] Expenses and Costs - Research and development expenses decreased from 152.03 million to 138.12 million, a reduction of 9.1%[23] - Interest expenses decreased from 1.59 billion to 1.47 billion, a reduction of 7.4%[23]