Golden Bridge(SH:600639)2024-10-30 07:39Revenue and Profit Performance - Revenue for the reporting period increased by 11.03% year-over-year, reaching RMB 2,033,998,649.61, but year-to-date revenue decreased by 62.11% compared to the same period last year[2] - Net profit attributable to shareholders decreased by 42.15% year-over-year for the reporting period, and year-to-date net profit dropped by 75.90%[2] - Total revenue for the first three quarters of 2024 was RMB 2,034 million, a significant decrease from RMB 5,368 million in the same period of 2023[14] - Net profit attributable to the parent company's shareholders in the first three quarters of 2024 was RMB 390.6 million, compared to RMB 1,620.8 million in 2023[16] - Revenue for the first three quarters of 2024 was 765.22 million RMB, a decrease from 1.08 billion RMB in the same period in 2023[24] - Net profit for the first three quarters of 2024 was 76.62 million RMB, significantly lower than 792.21 million RMB in 2023[24] Asset and Liability Changes - Total assets increased by 16.30% compared to the end of the previous year, reaching RMB 46,264,259,991.32[3] - The company's monetary funds increased to 4,401,637,760.97 yuan as of September 30, 2024, up from 2,303,889,490.50 yuan at the end of 2023[11] - Total assets reached 46,264,259,991.32 yuan, with current assets accounting for 28,470,878,972.02 yuan and non-current assets at 17,793,381,019.30 yuan[11] - Current liabilities totaled 13,909,628,573.08 yuan, with short-term borrowings at 4,044,091,509.16 yuan[12] - Long-term borrowings increased to 6,727,200,251.47 yuan from 6,132,012,936.85 yuan at the end of 2023[12] - Total liabilities as of the end of Q3 2024 were RMB 27,922.8 million, an increase from RMB 22,802.9 million at the end of 2023[13] - Total equity attributable to the parent company's shareholders as of the end of Q3 2024 was RMB 14,097.5 million, slightly down from RMB 14,113.2 million at the end of 2023[13] - Total liabilities increased to 13.94 billion RMB, up from 11.94 billion RMB in the previous period[22] - Total owner's equity decreased to 11.54 billion RMB from 11.87 billion RMB[22] Cash Flow and Financial Activities - Operating cash flow for the year-to-date was negative RMB 123,349,027.46, with no applicable year-over-year comparison[3] - Operating cash flow for the first three quarters of 2024 was -123.35 million yuan, a significant improvement compared to -6.6 billion yuan in the same period of 2023[19] - Cash received from investment returns in the first three quarters of 2024 was 33.21 million yuan, a sharp decline from 431.77 million yuan in the same period of 2023[19] - Cash outflow for investments in the first three quarters of 2024 was 2.22 billion yuan, a 129.6% increase from 967.27 million yuan in the same period of 2023[20] - Net cash flow from financing activities in the first three quarters of 2024 was 3.13 billion yuan, a 32.1% decrease from 4.61 billion yuan in the same period of 2023[20] - Operating cash flow for the first three quarters of 2024 was 162.94 million RMB, down from 243.47 million RMB in 2023[26] - Investment activities cash inflow totaled 4,016,125,923.34, a decrease from 4,107,187,025.64 in the previous period[27] - Investment activities cash outflow was 4,168,503,158.28, down from 6,665,721,134.04[27] - Net cash flow from investment activities was -152,377,234.94, an improvement from -2,558,534,108.40[27] - Financing activities cash inflow was 4,799,000,000.00, compared to 6,737,000,000.00 previously[27] - Financing activities cash outflow decreased to 3,274,522,119.43 from 4,694,433,657.26[27] - Net cash flow from financing activities was 1,524,477,880.57, down from 2,042,566,342.74[27] - Net increase in cash and cash equivalents was 1,535,072,543.87, compared to a decrease of -272,500,418.77 in the previous period[27] - Ending cash and cash equivalents balance was 2,093,811,955.42, up from 943,827,218.18[27] Earnings and Shareholder Metrics - Basic and diluted earnings per share (EPS) for the reporting period were RMB 0.0560, a decrease of 42.11% year-over-year[3] - Weighted average return on equity (ROE) decreased by 9.13 percentage points year-to-date to 2.79%[3] - Basic earnings per share (EPS) for the first three quarters of 2024 were RMB 0.348, down from RMB 1.444 in 2023[18] - Total comprehensive income for the first three quarters of 2024 was RMB 421.6 million, compared to RMB 1,718.3 million in 2023[18] - Minority shareholders' losses in the first three quarters of 2024 were RMB 12.9 million, an improvement from RMB 27.9 million in 2023[18] - Total comprehensive income for 2024 was 120.48 million RMB, compared to 917.56 million RMB in 2023[25] Government Subsidies and Non-Recurring Gains - Government subsidies contributed RMB 5,182,391.15 to non-recurring gains for the reporting period, with a total of RMB 10,663,698.68 year-to-date[4] Shareholder and Ownership Structure - The company's largest shareholder, Shanghai Jinqiao (Group) Co., Ltd., holds a 49.37% stake with 554,081,457 shares[6] - Foreign institutional investors, including Vanguard and Greenwood, hold significant minority stakes in the company[7] - Shanghai Jinqiao (Group) Co., Ltd. holds 554,081,457 unrestricted shares, accounting for a significant portion of the company's equity[8] Subsidiary and Project Performance - The company's subsidiary, Shanghai Yunzhou Real Estate Co., Ltd., achieved cumulative sales of 3.322 billion yuan for the Biyun Liyue project as of September 2024[9] - Shanghai New Jinqiao Plaza Industrial Co., Ltd. disclosed 100% equity pre-disclosure on the Shanghai United Assets and Equity Exchange website on September 30, 2024[9] Inventory and Investment Properties - Inventory increased to 22,149,538,091.74 yuan from 19,232,479,398.65 yuan at the end of 2023[11] - The company's investment properties grew to 12,377,099,056.75 yuan, up from 11,788,915,718.68 yuan at the end of 2023[11] Interest and Investment Expenses - Interest expenses in the first three quarters of 2024 were RMB 344.5 million, up from RMB 183.7 million in 2023[16] - Interest expenses increased to 256.50 million RMB in 2024 from 131.76 million RMB in 2023[24] - Investment income dropped to 31.08 million RMB in 2024 from 493.76 million RMB in 2023[24] Sales and Cash Flow from Operations - Sales revenue from goods and services in the first three quarters of 2024 reached 3.73 billion yuan, an 83.8% increase from 2.03 billion yuan in the same period of 2023[19] - Cash received from selling goods and providing services was 774.21 million RMB in 2024, down from 825.62 million RMB in 2023[26] - Cash paid for goods and services increased to 402.04 million RMB in 2024 from 298.67 million RMB in 2023[26] Revenue Decline Reasons - The decrease in revenue and net profit is primarily due to the absence of residential project sales compared to the same period last year, which included the sale of the second phase of Biyun Zun Di[5]