CREC(SZ:000736)2023-08-30 16:00Financial Performance - The company's operating revenue for the first half of 2023 was ¥8,762,866,777.38, a decrease of 29.57% compared to ¥12,442,076,787.25 in the same period last year[19]. - The net profit attributable to shareholders of the listed company was -¥568,510,209.57, representing a decline of 774.76% from ¥84,254,026.33 in the previous year[19]. - The weighted average return on net assets was -18.9%, a decrease of 21.45% compared to 2.55% in the previous year[19]. - The company reported a significant increase in non-recurring gains and losses, totaling ¥18,654,907.32 for the reporting period[23]. - The company achieved a total revenue of CNY 8.763 billion in the first half of 2023, representing a 29.57% decrease year-on-year[30]. - The company reported a total comprehensive loss for the six months ended June 30, 2023, was RMB 443.07 million, compared to a comprehensive income of RMB 332.11 million for the same period in 2022[155]. - The net profit attributable to the parent company decreased significantly by 1191.40% to -58,716.51 million RMB compared to the same period last year[147]. Cash Flow and Liquidity - The net cash flow from operating activities increased by 6.48% to ¥2,994,969,432.26, compared to ¥2,812,776,190.63 in the same period last year[19]. - The company's cash and cash equivalents at the end of the reporting period amounted to ¥15,476,560,414.92, representing 10.97% of total assets, up from 7.63% last year[60]. - The company reported cash inflows from financing activities of RMB 20.15 billion for the six months ended June 30, 2023, a decrease from RMB 21.29 billion in the same period of 2022[162]. - The cash and cash equivalents at the end of the period increased to RMB 12.91 billion from RMB 8.74 billion at the end of June 2022, reflecting a significant increase of 47.5%[162]. - The company's total cash outflow from operating activities was RMB 934,066,685.97, down from RMB 995,109,770.74 in the previous year, a decrease of about 6.1%[173]. Assets and Liabilities - The total assets at the end of the reporting period were ¥141,111,560,856.82, an increase of 2.77% from ¥137,307,213,180.51 at the end of the previous year[19]. - The company's total liabilities as of June 30, 2023, amounted to RMB 122.26 billion, an increase of 3.4% from RMB 118.27 billion as of December 31, 2022[154]. - The company's total equity decreased to RMB 18.85 billion as of June 30, 2023, from RMB 19.04 billion as of December 31, 2022, reflecting a decline of 1.0%[154]. - The debt-to-asset ratio stands at 86.64%, an increase of 0.51 percentage points from the end of last year[147]. Investment and Development - The company continues to focus on real estate development and sales while exploring new business areas such as financing construction and urban renewal[27]. - The company is actively enhancing sales quality and collection efficiency, resulting in stable growth in contracted sales and collection amounts[31]. - The company has initiated a stock issuance to specific targets, which was approved by the Shenzhen Stock Exchange on June 6, 2023[32]. - The company plans to enhance project delivery quality and customer satisfaction while ensuring timely project completion[44]. - The company plans to expand its market presence through strategic acquisitions and new product developments in the upcoming quarters[156]. Corporate Governance and Compliance - The company is committed to fulfilling its responsibilities towards shareholders, employees, creditors, and consumers while pursuing economic benefits[86]. - The company emphasizes compliance with environmental regulations and has not experienced any significant environmental incidents during the reporting period[85]. - The company has not engaged in any significant asset or equity sales during the reporting period[72]. - The financial statements were signed by the legal representative, Li Yongqian, and the accounting heads, ensuring the accuracy of the reported figures[169]. - The financial report is prepared based on the accounting standards issued by the Ministry of Finance, ensuring compliance with the relevant regulations[188]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 55,230[132]. - The largest shareholder, China Communications Real Estate Group Co., Ltd., holds 52.32% of the shares, totaling 363,846,949 shares[132]. - The company plans not to distribute cash dividends or issue bonus shares during the reporting period[6]. - The company has committed to maintaining fair pricing in related transactions and ensuring no illegal transfer of funds or profits through these transactions[92]. Risk Management - The company faces external risks due to a challenging real estate market, with a focus on adapting to macroeconomic policies and enhancing operational efficiency[76]. - The company is committed to strengthening risk management, particularly in controlling key indicators such as asset-liability ratio and interest-bearing debt[47]. - The company aims to improve its asset-liability ratio and overall operational capabilities, addressing internal risks related to its competitive position in the industry[77].