GDMZH(SH:600382)2021-10-27 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥59,003,717.23, representing a year-on-year increase of 5.53%[5] - The net profit attributable to shareholders for Q3 2021 was ¥30,643,488.14, a decrease of 72.25% compared to the same period last year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥30,783,612.04, down 72.04% year-on-year[5] - The basic earnings per share for Q3 2021 was ¥0.04, reflecting a decline of 71.43% compared to the previous year[7] - Total operating revenue for the first three quarters of 2021 reached ¥196,263,881.56, an increase from ¥185,160,509.78 in the same period of 2020, representing a growth of approximately 6.0%[32] - Net profit for the first three quarters of 2021 was ¥105,354,316.09, down from ¥341,530,374.38 in the same period of 2020, showing a decrease of around 69.1%[34] - Basic and diluted earnings per share for the first three quarters of 2021 were both ¥0.14, compared to ¥0.42 in 2020, indicating a decline of 66.7%[35] Assets and Liabilities - The total assets at the end of the reporting period were ¥7,821,452,665.32, a decrease of 3.91% from the end of the previous year[7] - As of September 30, 2021, the total assets of Guangdong Mingzhu Group amounted to CNY 7,821,452,665.32, a decrease from CNY 8,140,066,818.54 at the end of 2020, reflecting a decline of approximately 3.9%[26] - The company's current assets totaled CNY 6,348,406,216.77, slightly down from CNY 6,374,704,615.22 at the end of 2020, indicating a decrease of about 0.4%[26] - The total liabilities decreased from CNY 1,091,014,119.80 to CNY 824,834,882.54, representing a reduction of approximately 24.4%[29] - The non-current liabilities decreased from CNY 193,613,828.07 to CNY 163,713,828.07, a reduction of about 15.5%[29] - The company's retained earnings increased from CNY 3,381,268,729.27 to CNY 3,416,111,866.01, reflecting a growth of approximately 1.0%[29] Cash Flow - The net cash flow from operating activities for the year-to-date was -¥126,376,468.03, an improvement of 64.20% compared to the same period last year[5] - Cash flow from operating activities for the first three quarters of 2021 was negative at -¥126,376,468.03, compared to -¥353,000,069.93 in 2020, showing an improvement in cash flow[37] - Cash flow from investing activities generated a net inflow of ¥477,841,257.75 in the first three quarters of 2021, compared to ¥330,382,364.88 in 2020, indicating a positive trend[37] - Cash flow from financing activities resulted in a net outflow of -¥341,087,150.38 in the first three quarters of 2021, compared to -¥24,903,046.75 in 2020, reflecting increased financing pressures[37] - The ending cash and cash equivalents balance for the first three quarters of 2021 was ¥88,714,996.20, up from ¥53,998,717.29 in 2020, indicating improved liquidity[37] Shareholder Information - The company reported a total of 29,917 common shareholders at the end of the reporting period[12] - The largest shareholder, Shenzhen Jinxin'an Investment Co., Ltd., held 204,194,341 shares, accounting for 25.88% of the total shares[12] Project Investments and Developments - The company has invested approximately RMB 4,116.86 million in the Southern New Town project as of September 30, 2021, with RMB 1,833.94 million allocated for land acquisition and demolition, and RMB 2,282.92 million for construction costs[15] - A total of 250.13 acres of land have been transferred in the first phase of the Southern New Town project, generating land transfer revenue of RMB 875.87 million[18] - The company has signed a share transfer intention agreement with the Urban Investment Development Company to sell 92% of its stake in the Urban Operation Company for cash[18] - The company has completed the construction of three experimental schools and has submitted the project for financial audit[17] - The company has completed the construction of the main engineering works for the Xingwang Bridge and is in the process of finalizing acceptance and settlement procedures[17] - The company has invested RMB 1,482.64 million in engineering construction for the Southern New Town project[15] - The company is actively pursuing the recovery of investment principal and interest from several cooperative projects, with outstanding amounts including RMB 203.17 million for the "Tai Ning Hua Fu" project[21] - The company has received 101 real estate registration electronic certificates for the "Huang Guo Yuan" project, with 65 remaining to be processed[19] - The company has initiated sales activities for the "Yi Jing Garden" project, with 174 residential units and 28 commercial units under contract[20] Risks and Challenges - The company faced a significant decrease in profits due to reduced income from cooperative investment projects and increased credit impairment losses on overdue receivables[10] - The company is facing risks related to the slow progress of land auctions due to market conditions and government approvals, which may affect expected investment returns[18] Financial Adjustments - The company reported adjustments in financial data due to the new revenue recognition standards, moving profits from joint ventures amounting to ¥337,717,522.66 from "operating income" to "investment income" for comparability[38] - The company began implementing new leasing standards in 2021, affecting the financial statements[38]