济南高新(600807) - 2022 Q1 - 季度财报

Key Financial Data The company reported revenue growth but a significant net loss in Q1 2022, primarily due to fair value changes and increased operating costs, alongside a notable decline in shareholder equity Key Accounting Data and Financial Indicators In Q1 2022, operating revenue grew by 29.37%, but net profit attributable to shareholders was a -138 million Yuan loss, with total assets up 9.83% and equity down 24.80% Key Financial Indicators for Q1 2022 | Indicator | Current Period (million Yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 320.78 | 29.37% | | Net Profit Attributable to Shareholders of Listed Company | -138.24 | Not Applicable | | Net Cash Flow from Operating Activities | -48.06 | Not Applicable | | Basic Earnings Per Share (Yuan/share) | -0.16 | Not Applicable | | Indicator | End of Current Period (billion Yuan) | Change from End of Previous Year (%) | | Total Assets | 6.79 | 9.83% | | Total Equity Attributable to Shareholders of Listed Company | 0.33 | -24.80% | Non-recurring Gains and Losses Items and Amounts Total non-recurring gains and losses amounted to -126 million Yuan, primarily driven by -125 million Yuan in fair value changes from transactional financial assets and liabilities, significantly impacting net profit Key Non-recurring Gains and Losses Items for Q1 2022 | Item | Amount in Current Period (million Yuan) | | :--- | :--- | | Gains and Losses on Disposal of Non-current Assets | 2.42 | | Government Subsidies Included in Current Profit and Loss | 0.60 | | Gains and Losses from Contingent Events Unrelated to Normal Business Operations | -6.52 | | Fair Value Change Gains and Losses and Investment Income | -124.99 | | Total | -126.07 | Analysis of Changes in Key Financial Indicators Significant losses in net profit and EPS were primarily driven by increased fair value losses on non-current financial assets and higher operating costs in core real estate and construction businesses due to economic and pandemic impacts - The increase in net profit loss attributable to shareholders of the listed company was primarily due to increased fair value losses on other non-current financial assets[8] - The increase in net profit loss after deducting non-recurring gains and losses was primarily due to the dual impact of the economic environment and recurring pandemic, leading to higher operating costs and expenses for the company's core businesses such as real estate and construction, resulting in reduced main business profits[8] Shareholder Information The company has 56,626 common shareholders, with the largest shareholder, Jinan Gaoxin Urban Construction Development Co., Ltd., holding 16.09% and having shares frozen, along with other major shareholders Shareholding Status of Shareholders As of the reporting period end, the company had 56,626 common shareholders, with the largest, Jinan Gaoxin Urban Construction Development Co., Ltd., holding 16.09% and having shares frozen, along with the second largest shareholder - At the end of the reporting period, the company had a total of 56,626 common shareholders[11] Top Three Shareholders' Shareholding Status | Shareholder Name | Shareholder Type | Shareholding Ratio (%) | Share Status | | :--- | :--- | :--- | :--- | | Jinan Gaoxin Urban Construction Development Co., Ltd. | State-owned Legal Person | 16.09 | Frozen | | Shandong Tianye Real Estate Development Group Co., Ltd. | Domestic Non-state-owned Legal Person | 6.84 | Frozen | | Guotong Trust Co., Ltd. | Unknown | 4.98 | None | - The largest shareholder, Jinan Gaoxin Urban Construction Development Co., Ltd., is a concerted action party with six other top ten shareholders, including Jinan Gaoxin Holding Group and Zhihui Valley Investment & Real Estate[12] Management Discussion and Analysis This section details the company's real estate operations, covering land reserves, development projects, sales, and leasing activities across various regions Real Estate Business Operations The company's real estate business encompasses land reserves, project development, sales, and leasing, with activities spanning multiple cities including Dezhou, Wuxi, Dongying, Weifang, Jinan, and Yantai Land Reserve Status The company holds 4 plots of land for development in Dezhou and Wuxi, totaling 314,000 sqm with a planned GFA of 606,000 sqm, all under joint development Overview of Land Reserves for Development | Region | Land Area (sqm) | Planned GFA (sqm) | Equity Ratio in Joint Development (%) | | :--- | :--- | :--- | :--- | | Qihe County, Dezhou City | 390,453 | 623,145 | 70% | | Liangxi District, Wuxi City | 23,646 | 82,759 | 60% | Development Investment Status The company had two mixed-use projects under construction in Dongying and Weifang, with a total actual investment of approximately 17.80 million Yuan in the current period Investment Status of Projects Under Construction | Region | Project | Total Investment (million Yuan) | Actual Investment in Current Period (million Yuan) | | :--- | :--- | :--- | :--- | | Hekou District, Dongying City | Blue Jiayuan | 314.73 | 7.63 | | Weicheng District, Weifang City | Jigao Guanlanjun | 950.00 | 10.17 | Sales and Revenue Recognition Status In this quarter, projects in Jinan and Yantai recognized sales revenue totaling approximately 9.16 million Yuan, mainly from office, commercial, and parking space properties - During the reporting period, the company's total real estate business revenue recognized was 9.16 million Yuan[17] Leasing Status The company generated total rental income of 2.19 million Yuan from shops, office buildings, and kindergartens held in Jinan and Dongying during the reporting period - During the reporting period, the company obtained total rental income of 2.19 million Yuan from investment properties held[19] Quarterly Financial Statements This section provides the company's consolidated balance sheet, income statement, and cash flow statement, detailing financial position, performance, and liquidity for the quarter Consolidated Balance Sheet As of March 31, 2022, total assets reached 6.79 billion Yuan (up 9.83%), total liabilities 6.04 billion Yuan (up 8.99%), and equity attributable to parent company shareholders significantly decreased by 24.80% to 332 million Yuan Key Balance Sheet Items | Item | March 31, 2022 (billion Yuan) | December 31, 2021 (billion Yuan) | Change Rate (%) | | :--- | :--- | :--- | :--- | | Total Assets | 6.79 | 6.18 | 9.83% | | Total Liabilities | 6.04 | 5.54 | 8.99% | | Total Equity Attributable to Parent Company Shareholders | 0.33 | 0.44 | -24.80% | Consolidated Income Statement In Q1 2022, total operating revenue grew by 28.73% to 321 million Yuan, but significant fair value losses led to an operating profit of -120 million Yuan and a net loss attributable to parent shareholders of -138 million Yuan Key Income Statement Items | Item | Q1 2022 (million Yuan) | Q1 2021 (million Yuan) | | :--- | :--- | :--- | | Total Operating Revenue | 320.78 | 249.19 | | Total Operating Costs | 315.15 | 244.46 | | Gains from Changes in Fair Value | -124.99 | -57.07 | | Operating Profit | -119.88 | -51.93 | | Net Profit Attributable to Parent Company Shareholders | -138.24 | -71.44 | Consolidated Cash Flow Statement In Q1 2022, net cash flow from operating activities was -48 million Yuan, investing activities had a -223 million Yuan outflow, while financing activities generated a 366 million Yuan inflow, resulting in a 95 million Yuan increase in cash and cash equivalents Key Cash Flow Statement Items | Item | Q1 2022 (million Yuan) | Q1 2021 (million Yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -48.06 | -113.29 | | Net Cash Flow from Investing Activities | -222.93 | -120.71 | | Net Cash Flow from Financing Activities | 366.07 | 193.96 | | Net Increase in Cash and Cash Equivalents | 95.32 | -41.03 |