CREC(SZ:000736)2018-08-29 16:00Financial Performance - The company's operating revenue for the reporting period reached ¥3,177,104,852.38, representing a 285.10% increase compared to the same period last year[19]. - The net profit attributable to shareholders of the listed company was ¥303,168,096.25, a significant increase of 2,949.91% year-on-year[19]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥195,049,923.97, reflecting a 329.40% increase compared to the previous year[19]. - The net cash flow from operating activities was ¥2,492,339,885.21, an increase of 462.15% compared to the same period last year[19]. - Basic earnings per share were ¥0.68, up 1,800.00% from a loss of ¥0.24 per share in the previous year[19]. - Operating profit for the current period was ¥572,858,348.66, compared to a loss of ¥19,182,840.69 in the previous period, indicating a turnaround in profitability[146]. - Net profit for the current period was ¥438,318,701.33, a substantial improvement from a net loss of ¥17,759,687.48 in the previous period[146]. Assets and Liabilities - The total assets at the end of the reporting period amounted to ¥36,081,805,160.70, a 10.26% increase from the end of the previous year[19]. - The total liabilities increased to ¥6,565,597,773.51 from ¥6,106,200,226.32, reflecting a rise of approximately 7.5%[144]. - The company's total liabilities reached 32.087 billion, compared to 28.981 billion at the start of the period, marking an increase of around 10.5%[141]. - Cash and cash equivalents at the end of the reporting period amounted to ¥4,840,788,480.06, representing 13.42% of total assets, a decrease of 0.38% compared to the previous year[47]. - The company's accounts receivable rose to 11.476 million from 2.386 million, indicating a significant increase of approximately 380%[139]. Investment and Projects - The company signed sales agreements for 505,700 square meters of real estate projects, generating a sales amount of CNY 5,959.56 million and cash receipts of CNY 6,856.13 million during the reporting period[33]. - The company’s land reserve includes projects in key regions such as the Yangtze River Delta and the Pearl River Delta, with a total land area of 396,600 square meters and a planned total construction area of 1,206,200 square meters for the "Zhongjiao Central Park" project in Changsha[34]. - The total investment in the "Zhongjiao Central Park" project in Changsha is estimated at 689,748 thousand CNY, with actual investment reaching 298,173 thousand CNY[36]. - The company has ongoing investment projects, including a 90% stake in the Jiaxing project with an investment of ¥63 million[40]. Financial Management - The company’s financial expenses surged by 159.60% to ¥109,503,619.99, primarily due to increased interest expenses[42]. - The company maintained a loan repayment rate of 100% during the reporting period[129]. - The company obtained a bank loan limit of 10.946 billion, utilized 2.018 billion, and repaid 2.281 billion during the reporting period[133]. - The company’s cash flow statement is pending further details, indicating ongoing financial management efforts[150]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares for this reporting period[6]. - The total number of ordinary shareholders at the end of the reporting period was 8,887[109]. - The largest shareholder, China Housing Development Co., Ltd., holds 53.32% of the shares, amounting to 237,690,352 shares[110]. - The company did not experience any changes in its controlling shareholder or actual controller during the reporting period[111]. Risks and Challenges - The company faces significant market risks due to stringent policy regulations affecting sales and project expansion[63]. - The company has detailed the risks it faces in the "Discussion and Analysis of Operating Conditions" section of the report[5]. Corporate Governance - The company is committed to improving its management efficiency through optimization of its corporate governance and information platforms[63]. - The company has established several new subsidiaries for real estate development, including investments of ¥250,000,000.00 and ¥300,000,000.00 for Ningbo Zhongjiao City Future Real Estate Co., Ltd. and Shenzhen Zhongjiao Real Estate Co., Ltd. respectively[52]. Legal Matters - The company is involved in a significant lawsuit with a claim amount of 146.51 million yuan, related to a debt that cannot be settled due to the revocation of the business license of the debtor company[74]. - Another lawsuit involves a claim of 35.45 million yuan against the company for alleged shareholder infringement of company interests, with the case currently under trial[75]. Future Outlook - The company plans to expand its real estate development projects in key regions such as the Yangtze River Delta and Pearl River Delta to strengthen its market presence[63]. - The company aims to enhance its product offerings through ongoing research and development initiatives[168]. - The company is considering strategic acquisitions to bolster its growth trajectory[168].