2015-04-26 16:00Financial Performance - Net profit attributable to shareholders decreased by 57.49% to RMB 650.23 million in Q1 2015, down from RMB 1.53 billion in Q1 2014[4] - Operating revenue for Q1 2015 was RMB 8.89 billion, a decline of 6.35% from RMB 9.50 billion in Q1 2014[4] - The company's net profit for Q1 2015 decreased by 57.49% year-on-year to RMB 65,023.24 million, primarily due to a high profit base in Q1 2014 and reduced settlement income[15] - The total operating revenue for Q1 2015 was RMB 889,433.82 million, a decline of 6.35% compared to RMB 949,721.66 million in Q1 2014[15] - Investment income for Q1 2015 was RMB 36,181.86 million, down 50.49% from RMB 73,082.08 million in the same period last year[15] Asset and Inventory Management - Total assets increased by 3.47% to RMB 526.04 billion as of March 31, 2015, compared to RMB 508.41 billion at the end of 2014[4] - The company’s inventory of unsold new homes slightly decreased to 15 million square meters from 15.2 million square meters at the beginning of the year[10] - The company has 19.19 million square meters of unsold resources yet to be settled, with a total contract amount of approximately RMB 223.38 billion, reflecting a growth of 14.9% year-to-date[13] Construction and Sales Performance - The company achieved a sales area of 3.957 million square meters in Q1 2015, with a sales amount of RMB 46.34 billion, representing a year-on-year decline of 4.7% and 14.6% respectively[11] - In March 2015, the company recorded a sales area of 1.241 million square meters and a sales amount of RMB 14.74 billion, showing a year-on-year increase of 2.5% and 2.1%[11] - The company completed 867,000 square meters of construction in Q1 2015, accounting for only 5.5% of the total expected annual completion[12] - The company achieved a construction area of 5,586,000 square meters in Q1 2015, accounting for 33.2% of the annual new construction plan[14] Financial Stability and Debt Management - Cash holdings at the end of the reporting period were RMB 38.89 billion, significantly exceeding the total of short-term borrowings and long-term borrowings due within one year, which amounted to RMB 23.63 billion[14] - The net debt ratio stood at 21.13%, maintaining a low level within the industry[14] - The average net asset return rate decreased to 0.73% in Q1 2015, down from 1.97% in Q1 2014, a decline of 1.24 percentage points[4] Land Acquisition and Development Strategy - The land supply area in major cities was only 47.4% of the same period last year, indicating a significant slowdown in land transactions[10] - The company added 9 new development projects, covering an area of approximately 692,000 square meters, with an average land price of RMB 4,769 per square meter[14] - The company plans to maintain a cautious land acquisition strategy while ensuring financial stability and risk control[14] Risk Management and Investor Relations - The company did not incur any losses from NDF contracts during the reporting period, indicating effective risk management[29] - The independent directors believe that the use of NDF and other financial instruments has effectively mitigated potential losses from exchange rate fluctuations[27] - The company utilized NDF contracts to hedge against foreign currency borrowing risks, ensuring stability in exchange rates[27] - The company has maintained a focus on internal control construction throughout the reporting period[26] - There were no instances of providing funds or guarantees to controlling shareholders or related parties during the reporting period[26] - The company engaged in various investor meetings, with over 50 investors participating in the annual performance promotion meeting[25] - The company provided regular reports and materials to investors during meetings, enhancing transparency[25] - The company has continued to expand its investor relations activities across multiple cities, including Hong Kong, Shenzhen, and Beijing[25]