ZJHTC(SH:600895)2023-04-28 16:00Major Financial Data This section presents the company's core financial data, non-recurring items, and analysis of key financial indicator changes Key Accounting Data and Financial Indicators Q1 2023 total operating revenue decreased 78.87% to 248 million yuan due to no park development sales, while net profit attributable to shareholders surged 186.85% to 198 million yuan, primarily from fair value gains and increased investment income Q1 2023 Core Financial Indicators | Indicator | Current Period (yuan) | YoY Change (%) | | :--- | :--- | :--- | | Operating Revenue | 247,847,857.13 | -78.87% | | Net Profit Attributable to Shareholders | 197,937,282.03 | 186.85% | | Net Profit Attributable to Shareholders (Excluding Non-Recurring Items) | 196,012,943.66 | 185.51% | | Net Cash Flow from Operating Activities | -830,212,032.51 | -87.76% | | Basic Earnings Per Share (yuan/share) | 0.13 | 186.67% | | Weighted Average Return on Net Assets | 1.68% | Increased 3.80 percentage points | | Period-End/Prior Year-End | Current Period-End (yuan) | Change from Prior Year-End (%) | | Total Assets | 44,701,631,091.41 | 4.62% | | Total Equity Attributable to Shareholders | 11,860,320,558.84 | 1.28% | - The decrease in operating revenue was primarily due to the absence of park comprehensive development sales business in the current period, which amounted to 947 million yuan in the prior year period4 - Significant growth in operating profit and net profit was driven by two main factors: 1) a substantial increase in the fair value of financial assets held by the company; and 2) a narrower decline in the fair value of financial assets held by its joint ventures, leading to a significant increase in investment income recognized under the equity method4 Non-Recurring Gains and Losses Items and Amounts Total non-recurring gains and losses for the period amounted to 1.9243 million yuan, primarily from 2.817 million yuan in government grants, net of other non-operating items and tax Q1 2023 Non-Recurring Gains and Losses Details | Item | Amount for Current Period (yuan) | | :--- | :--- | | Disposal gains/losses of non-current assets | 2,700.00 | | Government grants recognized in current profit/loss | 2,817,048.53 | | Other non-operating income and expenses | -254,742.46 | | Less: Income tax impact | 642,052.18 | | Less: Impact on minority interests (after tax) | -1,384.48 | | Total | 1,924,338.37 | Analysis of Changes in Key Financial Indicators and Reasons The reporting period saw significant changes in financial indicators, with revenue and costs declining due to business mix, investment and fair value gains increasing from market performance, and cash flows impacted by increased operational/investment outflows and substantial financing inflows Key Financial Indicator Changes | Item | Change (%) | Primary Reason | | :--- | :--- | :--- | | Operating Revenue | -78.87% | Prior year period included park comprehensive development sales business, absent in current period | | Operating Cost | -77.26% | Moved in the same direction as operating revenue | | Investment Income | 120.10% | Narrower decline in fair value of financial assets held by joint ventures, leading to a significant increase in investment income recognized under the equity method | | Fair Value Change Gains/Losses | 480.07% | Fair value of financial assets held by the company increased in the current period | | Net Cash Flow from Operating Activities | -87.76% | Significantly increased payments for project construction and taxes compared to the prior year period | | Net Cash Flow from Financing Activities | 402.51% | Significantly increased net proceeds from borrowings and corporate bond issuance compared to the prior year period | Shareholder Information This section provides details on the company's total number of shareholders and the shareholding structure of its top ten shareholders Shareholder Holdings As of period-end, the company had 124,326 common shareholders; Shanghai Zhangjiang (Group) Co., Ltd. was the largest at 50.75%, with Central Huijin and Hong Kong Securities Clearing Company also among the top ten - As of the end of the reporting period, the company had a total of 124,326 common shareholders10 Top Ten Shareholder Holdings | Shareholder Name | Holding Percentage (%) | Number of Shares Held (shares) | | :--- | :--- | :--- | | Shanghai Zhangjiang (Group) Co., Ltd. | 50.75 | 786,036,600 | | Central Huijin Asset Management Co., Ltd. | 2.59 | 40,120,590 | | Hong Kong Securities Clearing Company Limited | 1.09 | 16,876,842 | | Feng Jidong | 0.58 | 8,922,567 | | Chen Wensi | 0.47 | 7,289,053 | Quarterly Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for the quarter Audit Opinion The company's Q1 2023 financial statements are unaudited - The financial statements for this quarter are unaudited312 Financial Statements This section presents the company's unaudited consolidated and parent company financial statements for Q1 2023, including balance sheet, income statement, and cash flow statement Consolidated Balance Sheet As of March 31, 2023, total assets were 44.702 billion yuan (up 4.62%), total liabilities 29.260 billion yuan (up 6.65% due to increased borrowings and bonds), and equity attributable to parent company owners 11.860 billion yuan (up 1.28%) Consolidated Balance Sheet Key Items | Item | March 31, 2023 (yuan) | December 31, 2022 (yuan) | Change (%) | | :--- | :--- | :--- | :--- | | Total Assets | 44,701,631,091.41 | 42,727,234,244.92 | 4.62% | | Total Liabilities | 29,259,879,389.02 | 27,436,719,220.68 | 6.65% | | Total Equity Attributable to Parent Company Owners | 11,860,320,558.84 | 11,710,892,689.59 | 1.28% | Consolidated Income Statement In Q1 2023, total operating revenue was 248 million yuan (down 78.87%); however, investment income shifted from a 662 million yuan loss to a 133 million yuan gain, and fair value gains from a 33 million yuan loss to a 124 million yuan gain, resulting in an operating profit of 250 million yuan and net profit attributable to parent company shareholders increasing 186.85% to 198 million yuan Consolidated Income Statement Key Items | Item | Q1 2023 (yuan) | Q1 2022 (yuan) | Change | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 247,847,857.13 | 1,172,994,249.48 | -78.87% | | Operating Profit | 249,757,017.00 | -307,521,208.98 | Turned Profitable | | Total Profit | 249,307,601.12 | -307,519,292.00 | Turned Profitable | | Net Profit Attributable to Parent Company Shareholders | 197,937,282.03 | -227,897,493.59 | 186.85% | Consolidated Cash Flow Statement During the period, net cash flow from operating activities was -830 million yuan (outflows expanded YoY due to increased project payments/taxes); net cash outflow from investing activities was 1.076 billion yuan (outflows expanded); net cash inflow from financing activities was 2.571 billion yuan (up 402.51% YoY from new borrowings/bonds); and period-end cash and cash equivalents were 4.114 billion yuan Consolidated Cash Flow Statement Summary | Item | Q1 2023 (yuan) | Q1 2022 (yuan) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -830,212,032.51 | -442,163,139.87 | | Net Cash Flow from Investing Activities | -1,075,914,550.18 | -790,174,694.96 | | Net Cash Flow from Financing Activities | 2,570,757,101.61 | 511,586,738.45 | | Net Increase in Cash and Cash Equivalents | 648,686,808.84 | -723,151,374.46 | Parent Company Financial Statements Parent company Q1 2023 operating revenue was 80.1252 million yuan (up 5.68% YoY), but high financial expenses led to a net loss of 39.0061 million yuan, consistent with prior year; total assets were 25.203 billion yuan, and total liabilities 18.461 billion yuan Parent Company Income Statement Core Data | Item | Q1 2023 (yuan) | Q1 2022 (yuan) | | :--- | :--- | :--- | | Operating Revenue | 80,125,220.40 | 75,815,522.77 | | Operating Profit | -55,703,843.56 | -56,120,984.31 | | Net Profit | -39,006,050.97 | -38,285,899.84 | Parent Company Balance Sheet Core Data | Item | March 31, 2023 (yuan) | December 31, 2022 (yuan) | | :--- | :--- | :--- | | Total Assets | 25,202,962,345.62 | 23,133,651,866.70 | | Total Liabilities | 18,461,218,569.59 | 16,352,902,039.70 |