GREATTOWN(600094)2023-04-24 16:00Financial Performance - The company's operating revenue for Q1 2023 reached ¥1,499,304,967.26, representing an increase of 82.56% compared to the same period last year[5] - Net profit attributable to shareholders was ¥101,386,595.08, marking a significant turnaround from a loss in the previous year[5] - Basic earnings per share for the period was ¥0.0436, reflecting the company's return to profitability[5] - The net profit for Q1 2023 was CNY 94,982,473.39, a significant recovery from a net loss of CNY 79,101,402.59 in Q1 2022, marking a turnaround of over 220%[20] - The operating profit for Q1 2023 was CNY 130,060,055.40, compared to a loss of CNY 93,284,419.77 in the same period last year, indicating a positive shift in operational performance[20] - The company reported a comprehensive income total of CNY 173,605,377.44 for Q1 2023, recovering from a loss of CNY 25,765,163.34 in Q1 2022[21] - Earnings per share (EPS) for Q1 2023 was CNY 0.0436, recovering from a loss per share of CNY 0.0340 in Q1 2022[21] Profitability and Margins - The gross profit margin improved to 20.04%, up from 10.20% in the same period last year, driven by the contribution of high-margin projects[8] - The weighted average return on equity increased by 1.48 percentage points, attributed to the company's improved profitability[9] Cash Flow and Liquidity - The net cash flow from operating activities was ¥882,301,733.23, indicating a positive shift from negative cash flow in the previous year[5] - Cash flow from operating activities showed a net inflow of CNY 882,301,733.23 in Q1 2023, a significant improvement from a net outflow of CNY 798,317,706.97 in Q1 2022[23] - Investment activities generated a net cash inflow of CNY 54,297,095.49 in Q1 2023, compared to a net outflow of CNY 15,650,143.15 in Q1 2022, showing a positive change in investment cash flow[23] - The company’s cash and cash equivalents at the end of Q1 2023 stood at CNY 2,945,398,491.96, compared to CNY 5,368,487,967.65 at the end of Q1 2022, reflecting a decrease of approximately 45%[23] Assets and Liabilities - The total assets at the end of the reporting period were ¥34,999,777,065.57, a slight increase of 1.07% from the end of the previous year[6] - Total assets as of March 31, 2023, were RMB 34,999,777,065.57, compared to RMB 34,628,645,885.54 at the end of 2022, showing an increase of 1.1%[16] - Total liabilities as of March 31, 2023, were RMB 22,187,780,732.96, up from RMB 21,918,178,647.09 at the end of 2022, reflecting an increase of 1.2%[17] - The company's total equity as of March 31, 2023, was RMB 12,811,996,332.61, compared to RMB 12,710,467,238.45 at the end of 2022, indicating a growth of 0.8%[17] - The company reported a decrease in short-term borrowings to RMB 118,921,605.00 from RMB 148,652,006.25 at the end of 2022, a reduction of 20.0%[16] Revenue and Costs - Total operating revenue for Q1 2023 reached RMB 1,499,304,967.26, a significant increase of 82.8% compared to RMB 821,276,382.02 in Q1 2022[19] - Total operating costs for Q1 2023 were RMB 1,361,105,512.54, up from RMB 928,352,104.93 in Q1 2022, reflecting a year-over-year increase of 46.5%[19] - The increase in revenue was primarily due to the completion and delivery of new high-margin projects, which significantly raised the revenue per unit[8] - The company incurred total sales expenses of CNY 51,710,172.76 in Q1 2023, an increase from CNY 47,368,791.84 in Q1 2022, indicating a rise of about 5.0%[20] - The company is focused on cost reduction and efficiency improvements, leading to a decrease in the sales expense ratio from 5.77% to 3.45%[8] Market Expansion - The company is focusing on expanding its market presence in Southeast and East China, with 100% ownership in projects located in Fuzhou, Nanchang, Shanghai, Jiangsu, and Hangzhou[13] - The company has a total of 92,214.86 square meters of sales area for the current period, with a settlement area of 80,793.53 square meters[13] Non-Recurring Items - The company reported non-recurring gains of ¥3,102,395.52, after accounting for tax impacts and minority interests[8] - The company’s total assets impairment loss was CNY -7,221,662.15 in Q1 2023, a significant improvement from a gain of CNY 15,860,613.03 in Q1 2022, indicating a shift in asset valuation[20]