GZPR(SH:600684)2021-04-27 16:00Financial Performance - Operating revenue surged by 734.52% to CNY 1.76 billion compared to the same period last year[5] - Net profit attributable to shareholders reached CNY 366.65 million, a significant recovery from a loss of CNY 79.76 million in the previous year[5] - The weighted average return on net assets improved by 18.81 percentage points to 15.99%[5] - Basic earnings per share increased to CNY 0.43, compared to a loss of CNY 0.09 per share in the same period last year[7] - In Q1 2021, the company reported a net profit of CNY 352,214,423.56, a significant recovery from a net loss of CNY 82,432,373.16 in Q1 2020, marking a turnaround of over 527%[33] - The total revenue for Q1 2021 was CNY 1,674,398,693.39, compared to CNY 45,300,692.71 in Q1 2020, indicating a growth of approximately 3,600%[34] - Operating profit for Q1 2021 was CNY 480,041,809.89, a substantial increase from an operating loss of CNY 96,632,797.03 in the same period last year[33] - The total profit for Q1 2021 was CNY 479,497,414.26, compared to a total loss of CNY 98,042,380.15 in Q1 2020, indicating a turnaround of over 588%[33] - The comprehensive income for Q1 2021 was CNY 352,214,423.56, a significant improvement from a comprehensive loss of CNY 82,432,373.16 in Q1 2020[34] Cash Flow - Net cash flow from operating activities was CNY 134.30 million, a turnaround from a negative cash flow of CNY 84.46 million in the previous year[5] - The net cash flow from operating activities for Q1 2021 was ¥134,298,875, compared to a negative cash flow of ¥84,456,997 in Q1 2020, indicating a turnaround in performance[37] - The company reported a significant increase in cash inflow from operating activities, totaling ¥1,194,686,718 in Q1 2021, compared to ¥394,522,950 in Q1 2020, representing a growth of approximately 203%[37] - Cash received from sales of goods and services increased by 208.49% year-on-year, reflecting higher sales collections compared to the previous year[15] - Cash paid for purchasing goods and services increased by 67.87% year-on-year, driven by multiple projects reaching payment milestones[15] - The cash outflow for purchasing goods and services in Q1 2021 was ¥493,845,433, up from ¥294,181,196 in Q1 2020, reflecting an increase of about 68%[37] Assets and Liabilities - Total assets decreased by 5.35% to CNY 28.68 billion compared to the end of the previous year[5] - The company’s total liabilities as of March 31, 2021, were 18,506,840,164.15 yuan, compared to 20,757,339,855.63 yuan at the end of 2020[26] - The company’s non-current assets totaled 1,901,064,079.69 yuan, a decrease from 2,924,859,932.59 yuan at the end of 2020[26] - The company reported a total of CNY 4,503,406,437.30 in other receivables as of December 31, 2020[47] - Total current liabilities reached CNY 20,760,251,674.20, with an adjustment of CNY 2,911,818.57[43] - Total liabilities amounted to CNY 27,166,158,943.00, including adjustments from the new leasing standards[44] Shareholder Information - The total number of shareholders reached 36,757 by the end of the reporting period[9] - The largest shareholder, Guangzhou Zhujiang Industrial Group Co., Ltd., holds 31.10% of the shares[9] - The company's equity attributable to shareholders increased to ¥2,475,422,265.52 from ¥2,108,774,708.18, marking an increase of approximately 17.4%[30] Investment and Property - Investment properties decreased by 66.98% compared to the end of the previous year, mainly due to the delivery of properties in Zhujiang Yide Building and Zhujiang New Coast Apartment, resulting in revenue recognition and corresponding cost transfer[13] - The company recognized a decrease of 5,208.38% in investment income year-on-year, primarily due to a reduction in financial products compared to the previous year[13] - The rental income from various segments totaled 1,806.54 million yuan, with specific contributions from hotels, commercial properties, and residential units[23] - The total area available for sale across various projects is 3,478,780.45 square meters, with 1,100,930.92 square meters remaining unsold[20] Tax and Expenses - Tax expenses increased by 1,545.64% year-on-year, mainly due to the recognition of revenue from Zhujiang Yide Building and the accrual of land value-added tax[13] - The company incurred financial expenses of CNY 86,781,063.08 in Q1 2021, down from CNY 99,887,338.16 in Q1 2020, reflecting a decrease of approximately 13%[34] - The company reported a tax expense of CNY 127,282,990.70 in Q1 2021, compared to a tax benefit of CNY 15,610,006.99 in Q1 2020[33] New Standards and Adjustments - The company adopted new leasing standards effective January 1, 2021, impacting various asset and liability accounts[45] - The adjustment for right-of-use assets was CNY 9,070,733.36, reflecting the impact of the new leasing standards[46] - The average incremental borrowing rate for lease liabilities was set at 6.5%[46]