BLACK PEONY(SH:600510)2024-10-24 09:55Financial Performance - The company's operating revenue for Q3 2024 was ¥573,284,610.63, a decrease of 83.15% compared to the same period last year[2]. - The net profit attributable to shareholders for Q3 2024 was ¥24,129,145.60, down 91.06% year-on-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥23,319,116.42, a decrease of 90.69% compared to the same period last year[2]. - The basic earnings per share for Q3 2024 was ¥0.02, reflecting a decline of 92.31% year-on-year[3]. - The diluted earnings per share for Q3 2024 was also ¥0.02, down 92.31% compared to the same period last year[3]. - Total operating revenue for the first three quarters of 2024 was CNY 1,812,348,476.73, a decrease from CNY 5,946,049,720.56 in the same period of 2023, representing a decline of approximately 69.6%[14]. - Net profit for the first three quarters of 2024 was CNY 68,057,945.31, compared to CNY 471,043,318.51 in 2023, reflecting a decrease of approximately 85.5%[15]. - The company reported a total comprehensive income of CNY 250,455,781.40 for the first three quarters of 2024, down from CNY 454,897,662.58 in the same period of 2023, a decline of about 45%[15]. - Basic earnings per share for the first three quarters of 2024 were CNY 0.08, compared to CNY 0.38 in 2023, a decrease of 78.9%[15]. - The net profit for the first three quarters of 2024 was CNY 210,722,428.04, compared to CNY 402,322,729.95 in the first three quarters of 2023, indicating a decrease of 47.6%[22]. Cash Flow and Liquidity - The net cash flow from operating activities for the year-to-date was negative at ¥-1,226,183,232.35[2]. - In the first three quarters of 2024, the cash inflow from operating activities was CNY 2,170,518,826.53, a decrease of 30.9% compared to CNY 3,145,269,406.24 in the same period of 2023[17]. - The net cash outflow from operating activities was CNY -1,226,183,232.35, worsening from CNY -1,006,785,958.56 in the first three quarters of 2023[17]. - The total cash inflow from financing activities was CNY 5,196,598,481.12, down from CNY 6,675,212,788.12 in the previous year, representing a decline of 22%[18]. - The net cash flow from financing activities was CNY 385,068,079.69, compared to CNY 637,797,047.98 in the same period last year, indicating a decrease of 39.5%[18]. - The cash inflow from investment activities was CNY 67,659,348.94, significantly lower than CNY 610,249,956.39 in the previous year, reflecting a decline of 88.9%[18]. - The company's cash and cash equivalents decreased to approximately CNY 2.82 billion from CNY 3.94 billion, reflecting a decline of about 28.5%[11]. - The cash and cash equivalents at the end of the period were CNY 2,528,827,371.66, down from CNY 3,586,899,458.37, a decrease of 29.5%[18]. - The company reported cash received from borrowing of $760,000,000.00 and cash received from bond issuance of $3,208,000,000.00 during the financing activities[25]. Assets and Liabilities - Total assets at the end of the reporting period were ¥29,866,552,148.32, a slight decrease of 0.27% from the end of the previous year[3]. - As of September 30, 2024, the company's total current assets amounted to approximately CNY 23.94 billion, a decrease from CNY 24.35 billion at the end of 2023, representing a decline of about 1.7%[11]. - Total liabilities increased to approximately CNY 11.79 billion from CNY 11.10 billion, showing a rise of about 6.2%[12]. - The total liabilities of the company as of the end of the third quarter of 2024 were CNY 18,740,808,634.74, slightly down from CNY 18,936,251,200.27 at the end of 2023[13]. - The total equity attributable to shareholders of the parent company was CNY 10,168,897,109.02, compared to CNY 10,073,878,319.99 in the previous year, showing a slight increase[13]. - The total assets as of September 30, 2024, amounted to CNY 13,593,750,449.39, an increase from CNY 12,394,235,704.69 at the end of 2023, reflecting a growth of 9.7%[19]. - The total current assets increased to CNY 9,154,698,327.69 from CNY 8,187,711,789.45, marking an increase of 11.8%[19]. - The total liabilities increased to CNY 7,432,705,364.07 in 2024 from CNY 6,539,956,169.18 in 2023, reflecting a growth of 13.6%[20]. - The total equity rose to CNY 6,161,045,085.32 in 2024, up from CNY 5,854,279,535.51 in 2023, marking an increase of 5.2%[20]. Shareholder Information - The company’s major shareholders include Changgao New Group Co., Ltd. with a 50.23% stake and Changzhou State-owned Assets Investment Management Co., Ltd. with a 9.27% stake[9]. - The company has not reported any significant changes in the participation of major shareholders in margin financing and securities lending activities[9]. Operational Challenges - The decline in revenue and profit was primarily attributed to the delivery cycle of real estate projects and the impact of the real estate market[7]. - The company reported non-recurring gains of ¥810,029.18 for the current period, with significant contributions from government subsidies and asset disposals[5]. Financial Management - The company’s financial expenses for the first three quarters of 2024 were CNY -107,420,728.17, a significant improvement compared to CNY 143,438,130.92 in 2023[14]. - Research and development expenses for the first three quarters of 2024 were CNY 18,655,852.78, slightly down from CNY 19,301,526.73 in 2023, indicating a focus on cost management[14]. - The company's financial expenses for the first three quarters of 2024 were CNY -24,033,283.86, compared to CNY -15,620,011.07 in 2023, indicating an increase in financial costs[22]. - The company’s deferred income tax liabilities increased to CNY 230,394,266.25 from CNY 169,308,546.34 in the previous year, reflecting changes in tax strategy or asset valuations[13]. Accounting Standards - The company did not apply new accounting standards or interpretations for the first time in 2024[26].