Gemdale(SH:600383)2023-04-28 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 14,359,050,556.44, representing a year-on-year increase of 7.52%[4] - The net profit attributable to shareholders of the listed company was CNY 507,785,464.16, a decrease of 18.89% compared to the same period last year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 488,084,187.80, down 19.77% year-on-year[4] - The basic earnings per share for the period was CNY 0.11, a decrease of 21.43% compared to the same period last year[4] - The weighted average return on net assets was 0.78%, down 0.21 percentage points year-on-year[4] - The net profit for Q1 2023 was approximately ¥220.06 million, a decrease of 66.5% compared to ¥657.96 million in Q1 2022[22] - The total comprehensive income for Q1 2023 was ¥212.41 million, down from ¥702.26 million in Q1 2022, indicating a decline of 69.7%[23] - The company reported a total operating profit of ¥491.68 million, a decrease of 50.7% from ¥996.84 million in Q1 2022[22] - The total profit before tax was ¥494.28 million, down from ¥992.29 million in the previous year, representing a decline of 50.2%[22] Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -4,570,865,622.04, indicating a significant cash outflow[4] - The total cash and cash equivalents as of March 31, 2023, were approximately 5.004 billion yuan, compared to 5.451 billion yuan at the end of 2022[17] - The net cash flow from operating activities was negative at approximately -¥4.57 billion, compared to -¥182.73 million in Q1 2022[25] - Cash and cash equivalents at the end of Q1 2023 were approximately ¥49.85 billion, down from ¥61.34 billion at the end of Q1 2022[26] - The cash flow from financing activities was negative at approximately -¥1.18 billion, compared to -¥1.84 billion in Q1 2022[26] - The total cash inflow from operating activities was ¥15,958,638,636.46, down from ¥17,426,287,357.50 in Q1 2022, indicating a decrease of about 8.4%[33] - The cash outflow for operating activities totaled ¥6,925,272,779.28, compared to ¥14,748,897,384.93 in the previous year, marking a reduction of approximately 53%[33] Assets and Liabilities - Total assets at the end of Q1 2023 were CNY 422,547,395,392.23, an increase of 0.75% from the end of the previous year[5] - Total liabilities for Q1 2023 were CNY 306,593,472,220.69, an increase from CNY 303,126,453,148.43 in Q1 2022, showing a growth of about 1.5%[19] - The company's total assets decreased from CNY 203.94 billion at the end of 2022 to CNY 192.59 billion as of March 31, 2023, representing a decline of approximately 5.5%[28] - The company's total liabilities decreased from CNY 183.58 billion at the end of 2022 to CNY 171.80 billion as of March 31, 2023, a reduction of approximately 6.4%[29] - The company's total equity attributable to shareholders was CNY 65,391,799,505.49 in Q1 2023, slightly up from CNY 65,229,543,981.02 in Q1 2022[20] Real Estate Operations - In Q1 2023, the company completed a total of approximately 578,106 square meters of new construction area and approximately 1,342,214 square meters of completed area, with a signed area of approximately 2,428,966 square meters and a signed amount of approximately 441.2 billion yuan[12] - The total settlement area for real estate projects in Q1 2023 was 546,643 square meters, generating a settlement income of approximately 1.173 billion yuan[14] - The company reported a rental income of 13.247 million yuan from office properties in Beijing, with a rental rate of 72%[15] - The company’s total area of rental properties in Beijing was 221,670 square meters, generating a rental income of approximately 13.247 million yuan[15] - The company’s total area of completed projects in the East China region was 252,024 square meters, contributing to a settlement income of approximately 751.804 million yuan[14] Investment and Development - The company acquired several new real estate projects, including a residential land plot in Xi'an for a total price of 340 million yuan and a plot in Shanghai for 1.088 billion yuan, among others, totaling approximately 5.1 billion yuan across multiple projects[10][11] - The company has a land use period of 70 years for all newly acquired residential land plots, indicating a long-term investment strategy[10] Other Financial Metrics - The company reported non-recurring gains of CNY 19,701,276.36 for the period, after accounting for tax and minority interests[6] - The company reported an investment income of CNY 370.30 million in Q1 2023, a substantial increase from CNY 12.50 million in the same period last year[30] - Financial expenses showed a significant improvement, with a net financial income of CNY 102.97 million in Q1 2023 compared to an expense of CNY 11.18 million in Q1 2022[30] - Research and development expenses increased to CNY 27.68 million in Q1 2023, up from CNY 23.21 million in Q1 2022, reflecting a growth of about 19.5%[30]