Gemdale(SH:600383)2023-10-30 16:00Financial Performance - The company's operating revenue for Q3 2023 was approximately ¥15.44 billion, a decrease of 38.15% compared to ¥24.96 billion in the same period last year[3]. - The net profit attributable to shareholders for Q3 2023 was approximately -¥1.47 billion, representing a decline of 207.16% from ¥1.37 billion in the previous year[3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2023 was approximately -¥1.47 billion, a decrease of 223.07% compared to ¥1.19 billion in the same period last year[3]. - The basic earnings per share for Q3 2023 was -¥0.33, down 210.00% from ¥0.30 in the previous year[3]. - The diluted earnings per share for Q3 2023 was also -¥0.33, reflecting a 210.00% decline from the previous year[3]. - The weighted average return on equity for Q3 2023 was -2.26%, a decrease of 4.44 percentage points from 2.18% in the same period last year[3]. - The company reported a significant decrease in project settlement profits and impairment provisions impacting financial performance[6]. - In Q3 2023, the company's net profit was CNY 673,795,793.53, a significant decrease from CNY 5,350,497,621.64 in Q3 2022, representing a decline of approximately 87.4%[21]. - The total operating profit for Q3 2023 was CNY 1,996,557,896.41, down from CNY 6,445,151,156.30 in the same period last year, indicating a decrease of about 68.9%[21]. - The company reported a total comprehensive income of CNY 736,409,429.48 in Q3 2023, a significant drop from CNY 5,703,700,430.90 in Q3 2022[22]. - Basic earnings per share for Q3 2023 were CNY 0.01, down from CNY 0.74 in Q3 2022, indicating a decline of approximately 98.6%[22]. - The company recorded investment income of CNY 440,616,116.50 in Q3 2023, a sharp decline from CNY 2,834,061,950.71 in Q3 2022, representing a decrease of about 84.5%[21]. - The financial expenses for Q3 2023 were CNY 938,876,921.49, an increase from CNY 770,764,230.66 in Q3 2022, indicating a rise of approximately 21.8%[21]. Assets and Liabilities - The total assets at the end of the reporting period were approximately ¥409.93 billion, a decrease of 2.27% from ¥419.38 billion at the end of the previous year[3]. - The equity attributable to shareholders at the end of the reporting period was approximately ¥64.31 billion, down 1.44% from ¥65.23 billion at the end of the previous year[3]. - The company's total assets decreased to CNY 409,932,378,732.60 in Q3 2023 from CNY 419,437,461,200.67 in Q3 2022, a decline of 2.40%[19]. - Total liabilities decreased to CNY 295,424,215,395.15 in Q3 2023 from CNY 303,132,858,419.42 in Q3 2022, a reduction of 2.33%[18]. - The company's equity attributable to shareholders decreased to CNY 64,311,709,004.35 in Q3 2023 from CNY 65,248,913,068.79 in Q3 2022, a decline of 1.43%[19]. - The company’s total non-current liabilities decreased to CNY 68,480,896,721.30 in Q3 2023 from CNY 81,949,964,024.28 in Q3 2022, a reduction of 16.49%[18]. Cash Flow - The net cash flow from operating activities for the year-to-date was not applicable, with a significant decline in sales scale noted[7]. - The net cash flow from operating activities for the first nine months of 2023 was negative CNY 745,090,841.07, contrasting with a positive CNY 11,968,087,206.25 in the same period last year[23]. - The company achieved a cash inflow from investment activities of CNY 5,992,613,154.96 in the first nine months of 2023, down from CNY 7,815,289,434.27 in the same period of 2022, reflecting a decrease of about 23.3%[23]. - Total cash outflow from investment activities amounted to ¥4,408,931,333.35, a decrease from ¥8,567,428,519.32 in the previous period, resulting in a net cash flow from investment activities of ¥1,583,681,821.61 compared to a negative ¥752,139,085.05 last year[24]. - Cash inflow from financing activities totaled ¥32,168,631,320.95, down from ¥36,355,943,069.36, with net cash flow from financing activities showing a negative balance of ¥22,162,317,296.65 compared to a negative ¥20,270,825,936.58 in the previous year[24]. - The company reported a net decrease in cash and cash equivalents of ¥21,280,454,125.75, compared to a decrease of ¥8,866,793,790.34 in the same period last year[24]. - The ending balance of cash and cash equivalents was ¥33,069,049,213.20, down from ¥55,642,463,634.72 in the previous year[24]. - Cash received from investments amounted to ¥2,704,642,192.31, while cash paid for investments was ¥7,897,927,706.63, indicating a significant investment activity[24]. - Cash received from borrowings was ¥30,167,878,871.89, compared to ¥33,182,062,881.01 in the previous period, reflecting a decrease in borrowing activities[24]. - Cash paid for debt repayment reached ¥45,605,096,162.38, an increase from ¥40,653,559,000.05 in the previous year, indicating higher debt servicing costs[24]. - Cash paid for dividends and interest was ¥5,916,381,969.79, down from ¥8,228,293,891.32, suggesting a reduction in shareholder payouts[24]. - The impact of exchange rate changes on cash and cash equivalents was a positive ¥43,272,190.36, compared to a positive impact of ¥188,084,025.04 in the previous year[24]. Operational Highlights - The company added 950,000 square meters of real estate reserves in the first nine months of 2023, with a total investment of 12.5 billion RMB[10]. - In the first three quarters of 2023, the company completed approximately 2.24 million square meters of new construction and achieved a signed area of approximately 6.69 million square meters, with a total signed amount of approximately 121.93 billion RMB[11]. - The company has a total of 6.86 million square meters of completed area in the first three quarters of 2023, with a sales area of 6.69 million square meters[12]. - The company is focusing on strategic layouts in key cities such as Shanghai, Hangzhou, Nanjing, and Xi'an[10]. - The company has a rental rate of 75% for its office properties in Guangzhou, with a rental income to fair value ratio of 3.6%[13]. - The company reported a total rental income of 40.94 million RMB from properties in Beijing and 100.23 million RMB from properties in Shenzhen in the first nine months of 2023[13]. Shareholder Information - As of September 30, 2023, the company has a total of 113,967 common shareholders, with the largest shareholder holding 21.69% of the shares[8]. - The company has not disclosed any related party relationships among its top shareholders[9]. - The chairman of the company resigned due to health reasons, and the president will act as the chairman[14].