GZPR(SH:600684)2023-05-12 16:00Financial Performance - The company's operating revenue for Q1 2023 was CNY 2,113,283,791.21, representing a 469.19% increase compared to CNY 371,281,920.92 in the same period last year[5]. - The net profit attributable to shareholders was a loss of CNY 51,121,390.21, an improvement from a loss of CNY 131,200,906.10 in the previous year[5]. - The basic and diluted earnings per share were both CNY -0.06, compared to CNY -0.15 in the same period last year[6]. - The weighted average return on net assets was -10.51%, compared to -6.03% in the previous year[6]. - The net profit for Q1 2023 was -3,600,200.53 RMB, an improvement from -126,607,142.91 RMB in Q1 2022[28]. - The total profit for Q1 2023 was 25,101,764.83 RMB, compared to a loss of -119,280,535.34 RMB in the same period last year[28]. - Operating profit for Q1 2023 was 23,935,357.07 RMB, a significant recovery from a loss of -119,811,779.60 RMB in Q1 2022[28]. - The total comprehensive income attributable to the parent company for Q1 2023 was -51,121,390.21 RMB, compared to -115,613,362.42 RMB in Q1 2022[29]. - Basic and diluted earnings per share for Q1 2023 were both -0.06 RMB, an improvement from -0.14 RMB in Q1 2022[29]. Assets and Liabilities - Total assets decreased by 88.07% to CNY 3,847,943,589.50 due to asset restructuring and disposal of certain assets[12]. - The equity attributable to shareholders decreased by 34.80% to CNY 459,518,844.77, primarily due to the impact of asset restructuring[12]. - Total liabilities decreased to ¥3,360,980,915.77 from ¥30,025,840,000.26, indicating a reduction of approximately 88.8%[24]. - Total current assets amounted to ¥2,810,839,222.43 as of March 31, 2023, down from ¥8,026,433,564.52 at the end of 2022, a decline of approximately 65.0%[32]. - The company’s total liabilities decreased to ¥2,888,288,482.48 from ¥10,632,018,411.01 at the end of 2022, a decline of approximately 72.9%[33]. - The company’s equity decreased to ¥457,683,365.14 as of March 31, 2023, down from ¥677,957,912.43 at the end of 2022, representing a decrease of about 32.5%[34]. Cash Flow - The cash flow from operating activities showed a net outflow of CNY 63,844,036.15, compared to a net inflow of CNY 29,840,029.07 in the previous year[6]. - Cash inflow from investment activities in Q1 2023 was 1,069,339,173.56 RMB, compared to 29,530,235.77 RMB in Q1 2022[31]. - The net cash flow from financing activities in Q1 2023 was -1,509,935,799.37 RMB, a decrease from a positive cash flow of 105,944,820.57 RMB in Q1 2022[31]. - The net cash flow from investment activities was negative at -458.22 million, primarily due to asset restructuring[13]. - The net cash flow from operating activities was -$555.38 million, a decrease from $190.27 million in the previous year[38]. - Cash outflow for operating activities was $1.25 billion, compared to $123.72 million in the previous year[38]. - Cash outflow for investment activities was $712.71 million, up from $157.98 million year-over-year[38]. - The total cash and cash equivalents at the end of the period amounted to $677.63 million, down from $733.85 million at the end of the previous year[38]. Investments and Acquisitions - The company completed the acquisition of 100% of Guangzhou Pearl River Urban Management Service Group Co., Ltd., which is under the same controlling shareholder, impacting the financial statements[7]. - The company reported non-recurring gains of CNY 20,250,829.71, which included gains from the disposal of non-current assets and government subsidies[11]. - The company is engaged in a significant asset swap with Guangzhou Zhujiang Industrial Group, involving the exchange of 100% equity in a city management service group[17]. - The company has received approvals for its major asset swap and sale transactions, with ongoing disclosures regarding the progress of these transactions[19]. Revenue and Costs - The company's operating costs for Q1 2023 amounted to 581.98 million, reflecting an increase due to higher revenue from property deliveries compared to the same period last year[13]. - Tax expenses reached 243.66 million, also increasing in line with the rise in property delivery revenue[13]. - Investment income rose to 3,836.57 million, a year-on-year increase of 118.36 million, primarily from the investment in a sports development company[13]. - The fair value change income turned positive at 134.72 million, recovering from a loss of 609.46 million in the same period last year[13]. - The company reported asset disposal income of 230.15 million, an increase of 179.48 million compared to the previous year, mainly from the disposal of usage rights assets[13]. - Total operating costs for Q1 2023 were ¥2,096,878,912.18, compared to ¥487,864,715.29 in Q1 2022, indicating an increase of about 330.5%[27]. Shareholder Information - The company has 40,158 ordinary shareholders as of the report date[15]. - The largest shareholder, Guangzhou Zhujiang Industrial Group Co., Ltd., holds 31.10% of the shares, totaling 265,409,503 shares[16]. Accounting Standards - The company did not apply new accounting standards for the first quarter of 2023[39].