2018-10-25 16:00Financial Performance - Operating revenue for Q3 2018 reached CNY 70.05 billion, a 48.12% increase year-on-year, while revenue for the first nine months of 2018 was CNY 176.02 billion, up 50.32%[9] - Net profit attributable to shareholders for Q3 2018 was CNY 4.86 billion, reflecting a 28.31% increase, with a year-to-date net profit of CNY 13.98 billion, up 26.09%[9] - Basic earnings per share for Q3 2018 were CNY 0.440, an increase of 28.31%, while the diluted earnings per share remained the same[9] - The company reported a net profit margin improvement alongside revenue growth, indicating effective cost management strategies[9] - The cumulative net profit attributable to shareholders for the first nine months was RMB 13.98 billion, reflecting a year-on-year increase of 26.1%[24] - The company's total revenue for the first three quarters of 2018 reached RMB 176.02 billion, a 50.32% increase compared to RMB 117.10 billion in the same period of 2017[35] Assets and Liabilities - Total assets increased by 22.90% to CNY 1,432.22 billion as of September 30, 2018, compared to CNY 1,165.35 billion at the end of 2017[9] - As of the end of September, the company held cash and cash equivalents of RMB 132.77 billion, significantly exceeding short-term borrowings and interest-bearing liabilities due within one year totaling RMB 86.59 billion[29] - The company’s long-term equity investments increased by 46.52% to RMB 119.01 billion, reflecting an increase in external investments[34] - The company’s investment properties increased by 52.49% to RMB 43.93 billion, driven by the addition of operational property projects[34] Cash Flow - The net cash flow from operating activities showed a significant decline, with a negative CNY 21.48 billion for Q3 2018, a decrease of 317.50% year-on-year[9] - The company’s net cash flow from operating activities for the first three quarters was negative RMB 2.57 billion, a decrease of 254.02% compared to RMB 1.67 billion in the same period of 2017[35] Shareholder Information - The total number of shareholders as of the reporting period was 261,810, with the top 10 shareholders holding significant stakes[14] - Shenzhen Metro Group held 29.38% of the shares, making it the largest shareholder[14] - The company’s minority shareholder profit increased by 109.72% to RMB 781.32 million, attributed to the increased settlement scale of cooperative projects[35] Real Estate Operations - The gross margin for the real estate business in the first nine months was 27.8%, an increase of 4.5 percentage points year-on-year[25] - The company sold 8.67 million square meters of real estate in Q3 2018, with sales revenue of RMB 126.89 billion, representing year-on-year growth of 9.0% and 6.7% respectively[27] - As of September 30, 2018, the company had 38.49 million square meters of unsold resources under construction, with a total contract amount of approximately RMB 552.38 billion, up 29.9% and 33.3% from the beginning of the year[27] - In Q3 2018, the company added 63 new projects with a total construction area of approximately 15.5 million square meters[28] - The company has a total construction area of approximately 88.59 million square meters for ongoing projects as of September 30, 2018[28] - The company’s new construction area for the first nine months was 36.49 million square meters, a year-on-year increase of 40.4%[28] Financial Instruments and Risk Management - The company has signed forward foreign exchange contracts (DF) to hedge against risks from foreign currency borrowings totaling 1.325 billion USD[44] - The company has entered into interest rate swap contracts (IRS) for 5.41 billion HKD of floating-rate borrowings to mitigate interest rate fluctuations[45] - The CCS contracts have impacted the company's profit and loss by 243.75 million RMB during the reporting period[45] - The company maintains a cautious approach to managing foreign currency and interest rate risks through various financial instruments[45] Future Outlook - Future outlook includes continued focus on market expansion and potential new product developments to sustain growth momentum[5] Other Information - The company reported a total of 3,111,402.46 million RMB in derivative contracts at the end of the reporting period, representing a 22.8% increase from the beginning of the year[43] - The logistics and warehousing service business acquired 19 new projects during the reporting period, with a total leasable area of approximately 1.572 million square meters, bringing the total area to about 7.83 million square meters by the end of September[30] - The company’s financial expenses increased by 249.12% to RMB 462.98 million due to an increase in financing scale and a decrease in capitalization rate[35] - The company successfully issued RMB 3 billion of medium-term notes with a coupon rate of 4.6% for a term of 3 years on July 10-11, 2018[36] - The company has no overdue amounts in its entrusted wealth management, with a total balance of 24,251.81 million RMB[42] - The company has no significant changes in accounting policies for derivatives compared to the previous reporting period[45] - There were no violations regarding external guarantees during the reporting period[48] - The company reported no non-operating fund occupation by major shareholders or related parties during the reporting period[49] - The company has engaged in multiple investor meetings to discuss operational conditions and development strategies[46]