2023-04-28 09:20Financial Performance - Revenue for Q1 2023 reached RMB 68,474,007 thousand, an increase of 9.27% compared to RMB 62,667,075 thousand in Q1 2022[4] - Profit attributable to shareholders for the same period was RMB 1,445,811 thousand, reflecting a slight increase of 1.16% from RMB 1,429,295 thousand in Q1 2022[4] - Basic and diluted earnings per share for Q1 2023 were both RMB 0.1251, up 1.79% from RMB 0.1229 in Q1 2022[4] - The company achieved operating revenue of RMB 68.47 billion, a year-on-year increase of 9.3%[13] - Net profit attributable to shareholders was RMB 1.45 billion, reflecting a year-on-year growth of 1.2%[13] - Total revenue for the three months ended March 31, 2023, was RMB 68.47 billion, compared to RMB 62.67 billion for the same period in 2022, reflecting a growth of 9.0%[21] - Gross profit for the same period was RMB 10.57 billion, down from RMB 11.81 billion, indicating a decrease of 10.6%[21] - Operating profit for the three months was RMB 7.70 billion, slightly down from RMB 8.04 billion, a decrease of 4.3%[21] - The net profit attributable to shareholders for the period was RMB 1.45 billion, compared to RMB 1.43 billion in the previous year, a marginal increase of 1.1%[21] - The total comprehensive income for the period was RMB 2.75 billion, up from RMB 2.24 billion, representing an increase of 22.4%[22] Cash Flow and Liquidity - Net cash flow from operating activities improved significantly to RMB 7,001,301 thousand, a 152.80% increase from a cash outflow of RMB 13,259,189 thousand in Q1 2022[4] - Operating cash flow for the first quarter of 2023 generated RMB 11,382,848 thousand, a significant improvement compared to a cash outflow of RMB 5,932,407 thousand in the same period of 2022[25] - The net cash generated from operating activities for Q1 2023 was RMB 7,001,301 thousand, reversing from a net cash outflow of RMB 13,259,189 thousand in Q1 2022[25] - Cash and cash equivalents increased to RMB 137,310,094 thousand as of March 31, 2023, compared to RMB 134,424,670 thousand at the beginning of the year, marking a rise of about 2.12%[25] - The company reported a cash outflow from financing activities of RMB 3,749,993 thousand in Q1 2023, contrasting with a cash inflow of RMB 8,366,566 thousand in Q1 2022[25] Assets and Liabilities - Total assets as of March 31, 2023, were RMB 1,743,105,515 thousand, a decrease of 0.84% from RMB 1,757,843,986 thousand a year earlier[4] - As of March 31, 2023, total assets amounted to RMB 1.40 trillion, a slight decrease from RMB 1.41 trillion at the end of 2022[23] - As of March 31, 2023, non-current liabilities increased to RMB 285,776,941 thousand from RMB 274,405,583 thousand as of December 31, 2022, reflecting a growth of approximately 4.99%[24] - Total equity as of March 31, 2023, was RMB 397,505,859 thousand, a decrease from RMB 405,636,830 thousand as of December 31, 2022, indicating a decline of approximately 2.87%[24] - The company’s total assets decreased slightly, with net asset value at RMB 397,505,859 thousand as of March 31, 2023, down from RMB 405,636,830 thousand[24] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 546,765, with 546,689 being A-share holders[7] - The largest shareholder, Shenzhen Metro Group Co., Ltd., held 27.18% of shares, totaling 3,242,810,791 shares[8] - Equity attributable to shareholders increased to RMB 246,012,296 thousand, a rise of 1.10% from RMB 243,325,375 thousand as of March 31, 2022[4] Business Segments - The real estate development business contributed RMB 54.16 billion in revenue, with a settlement area of 4.34 million square meters, up 15.8% and 9.8% year-on-year respectively[13] - The overall gross profit margin for the group was 15.4%, with the development business's gross profit margin at 17.2%[13] - Contracted sales area was 6.26 million square meters, with a total sales amount of RMB 101.38 billion, down 1.1% and 4.8% year-on-year[14] - The company added 5 new development projects with a total planned construction area of 876,000 square meters[14] - The rental housing business generated revenue of RMB 780 million, a year-on-year increase of 10.8%[17] - The rental housing business managed approximately 217,000 long-term rental apartments, with an occupancy rate of 95%[17] - The company actively responded to national policies on affordable rental housing, with 81,400 units included in the affordable rental housing program[17] - The logistics and warehousing business achieved revenue of RMB 960 million, a year-on-year increase of 20.0%, with high-standard revenue at RMB 570 million, up 11.5%, and cold chain revenue at RMB 390 million, up 35.0%[18] - The top 20 cold chain customers contributed to a revenue increase of 33%, with the number of parks increasing from an average of 4.4 to 6.2[18] - The commercial development and operation business generated revenue of RMB 2.33 billion, a year-on-year growth of 10.4%, with revenue from managed commercial projects at RMB 1.37 billion[19] - The number of members for the commercial projects reached 23.1 million, with monthly active users increasing by 54% year-on-year[19] Financing and Costs - Financing costs decreased by 30.05% to RMB (1,358,818) thousand compared to RMB (1,942,593) thousand in the same period last year[5] - The share of profits from associates and joint ventures increased by 56.82% to RMB 145,946 thousand from RMB 93,065 thousand in Q1 2022[5] - The company paid RMB 5,091,405 thousand in dividends and interest during Q1 2023, compared to RMB 3,177,294 thousand in the same period of 2022, reflecting an increase of approximately 60.4%[25] - The company’s reserve increased to RMB 235,373,387 thousand as of March 31, 2023, up from RMB 232,986,466 thousand as of December 31, 2022, indicating a growth of about 1.03%[24] - The company’s other investment activities generated cash inflow of RMB 1,514,665 thousand in Q1 2023, down from RMB 2,428,734 thousand in Q1 2022, representing a decrease of approximately 37.7%[25]