Palm(SZ:002431)2024-10-30 10:38Financial Performance - The company's operating revenue for Q3 2024 was ¥791,186,984.49, a decrease of 45.71% compared to the same period last year[2]. - The net profit attributable to shareholders was -¥223,480,828.92, representing a decline of 128.10% year-over-year[2]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥302,742,138.32, down 205.99% from the previous year[2]. - The company reported a net loss of CNY 586.06 million, compared to a loss of CNY 1.84 billion in the previous period, showing an improvement[25]. - The total comprehensive income for Q3 2024 was -589,878,766.56 CNY, compared to -294,583,571.40 CNY in Q3 2023, indicating a worsening financial position[28]. - Basic and diluted earnings per share for Q3 2024 were both -0.33 CNY, compared to -0.16 CNY in Q3 2023[28]. - The company reported an operating profit of -590,249,469.99 CNY for Q3 2024, worsening from -300,946,904.29 CNY in the same period last year[27]. Assets and Liabilities - The company's total assets increased by 2.23% to ¥19,310,362,163.99 compared to the end of the previous year[3]. - The equity attributable to shareholders decreased by 19.40% to ¥2,649,709,383.16 compared to the end of the previous year[3]. - The total liabilities increased to CNY 16.47 billion from CNY 15.40 billion, an increase of 7.0%[25]. - The company's inventory increased to CNY 483.44 million from CNY 357.23 million, marking a rise of 35.3%[22]. - Accounts receivable rose to CNY 2.09 billion, up from CNY 1.75 billion, indicating an increase of 19.2%[22]. - Total assets reached CNY 19.31 billion, compared to CNY 18.89 billion at the beginning of the period, reflecting a growth of 2.3%[24]. Cash Flow - The cash flow from operating activities increased by 374.62% year-to-date, amounting to ¥343,160,254.01[2]. - Cash flow from operating activities showed a net increase of 343,160,254.01 CNY, a significant improvement compared to 72,302,058.38 CNY in Q3 2023[29]. - The company experienced a cash inflow from financing activities of 6,890,158,104.35 CNY in Q3 2024, up from 4,660,127,317.36 CNY in Q3 2023[30]. - The cash and cash equivalents at the end of Q3 2024 increased to 385,228,753.41 CNY from 133,469,316.17 CNY at the end of Q3 2023[30]. - The net cash flow from financing activities increased by 107% year-over-year, primarily due to reduced cash payments for debt repayment[12]. - Investment activities resulted in a net cash outflow of -97,189,810.56 CNY for Q3 2024, an improvement from -164,078,138.38 CNY in Q3 2023[30]. Shareholder Information - As of September 30, 2024, the total number of common shareholders is 67,033, with the largest shareholder, Henan Provincial Yuzhi Housing Management Co., Ltd., holding 29.67% of shares, totaling 537,867,433 shares[13]. - The top ten shareholders include Nanjing Qixia Construction Co., Ltd. with 9.74% and Zhu Qianji with 5.18% of shares[13]. - The company has not disclosed any relationships or concerted actions among the top ten shareholders[15]. - The company has not reported any changes in the top ten shareholders due to securities lending or borrowing[16]. - The company has 12,547,374 shares under judicial re-freezing among the pledged shares[14]. Operational Highlights - The company reported a 32.42% decrease in operating costs compared to the same period last year, primarily due to slower project execution[9]. - The company experienced a 67.42% increase in selling expenses, attributed to higher maintenance costs for completed projects[9]. - The company won two major contracts during the reporting period, with a total contract value of approximately CNY 318.16 million[21]. - The company has ongoing projects, including the construction of a new hospital and a high-standard farmland demonstration area, with a combined contract value of CNY 318.16 million[21]. - The company has agreed to acquire commercial real estate valued at RMB 163.90 million from its subsidiary, Guilin Palm Cultural Tourism Investment Co., Ltd., to offset debts[19]. Legal Matters - A lawsuit involving the company's subsidiary, Laiyang Palm Wulonghe Ecological Town Development Co., Ltd., has been filed against the Laiyang Housing and Urban-Rural Development Bureau, with a claim amount of RMB 909.03 million[20]. Share Repurchase Plan - The company plans to repurchase shares with a total amount not less than RMB 50 million and not exceeding RMB 100 million, with a maximum repurchase price of RMB 2.37 per share[16]. - The controlling shareholder, Henan Provincial Yuzhi Housing Management Co., Ltd., has increased its holdings by 17,305,200 shares, representing 0.95% of the total share capital, with a total investment of RMB 25,960,246.00[18]. - The company has not yet started the implementation of the share repurchase plan as of September 30, 2024[17].