2014-04-23 16:00Financial Performance - Operating revenue for the first quarter was CNY 907,683,527, down 29.99% year-on-year[8] - Net profit attributable to shareholders was CNY 66,965,336, representing a decrease of 52.43% compared to the same period last year[8] - Basic and diluted earnings per share were both CNY 0.02, a decrease of 50.00% year-on-year[8] - The company reported a net profit after deducting non-recurring gains and losses of CNY 66,740,075, down 52.53% year-on-year[8] - Net profit for Q1 2014 was RMB 79.65 million, down 43.10% from RMB 139.98 million in the same period last year[17] - The total profit decreased by 42.95% to RMB 107.27 million in Q1 2014 from RMB 188.02 million in Q1 2013[17] - The net profit attributable to the parent company was CNY 66,965,336, down 52.4% from CNY 140,767,076 year-over-year[33] - The total profit for the period was CNY 107,267,038, a decrease of 43% from CNY 188,016,109 in the previous year[33] Cash Flow - Net cash flow from operating activities was negative CNY 122,242,849, a decline of 145.53% compared to the previous year[8] - Cash flow from operating activities showed a net outflow of CNY 122,242,849, compared to a net inflow of CNY 268,500,460 in Q1 2013[41] - The total cash inflow from operating activities was CNY 1,264,840,268, down from CNY 1,650,694,065 in Q1 2013[41] - The net cash flow from financing activities was negative at CNY -588,533,829, worsening from CNY -345,814,875 in the prior period[47] - The net increase in cash and cash equivalents for the period was CNY -351,147,497, compared to CNY -90,552,773 in the prior period, reflecting a decline[47] Assets and Liabilities - Total assets at the end of the reporting period were CNY 31,184,596,978, a decrease of 2.86% compared to the end of the previous year[8] - Total liabilities decreased to CNY 20,454,561,110 from CNY 21,452,935,572 at the start of the year, reflecting a reduction of approximately 4.6%[23] - Current liabilities totaled CNY 10,912,309,890, down from CNY 11,941,570,903 at the beginning of the year, indicating a decrease of about 8.6%[23] - Non-current assets were reported at CNY 6,934,352,510, slightly down from CNY 6,986,423,723[23] - The company's cash and cash equivalents decreased to CNY 1,385,990,460 from CNY 1,737,131,809, a decline of approximately 20.2%[26] Shareholder Information - The total number of shareholders was 271,899 at the end of the reporting period[11] - The largest shareholder, Beijing Beichen Industrial Group Co., Ltd., held 1,161,000,031 shares, accounting for 34.482% of the total shares[11] - HKSCC NOMINEES LIMITED, the second-largest shareholder, held 683,424,498 shares, representing 20.298% of the total shares[11] Operational Metrics - The company achieved contract sales amounting to RMB 575.56 million and sales area of 2.98 million square meters during the reporting period[18] - The company maintained a high occupancy rate in its office and hotel properties, outperforming the average market levels in Beijing[18] - The company reported a significant reduction in accounts payable, which fell by 31.94% to RMB 1.48 billion from RMB 2.18 billion[17] - Accounts receivable decreased by 35.27% to RMB 33.95 million as of March 31, 2014, from RMB 52.45 million at the end of 2013[17] Financing Activities - The cash flow from financing activities showed a net outflow of RMB 624.35 million, an increase of 70.58% compared to RMB 366.01 million in the previous year[18] - The company raised CNY 1,280,303,145 through borrowings, an increase from CNY 980,660,627 in the previous year[42] - Total cash inflow from financing activities was CNY 1,280,303,145, an increase from CNY 980,660,627 in the previous period, reflecting a growth of approximately 30.6%[47] - Cash outflow for debt repayment amounted to CNY 1,706,924,803, compared to CNY 1,200,000,000, indicating a significant increase of about 42.2%[47] Market Response - The company is actively adjusting its marketing strategies and project development pace in response to changes in the real estate market[18]