BEH-P(SH:600791)2024-04-26 11:18Financial Performance - The company's operating revenue for Q1 2024 was CNY 170,054,960.73, representing a decrease of 90.01% compared to the same period last year[6]. - The net profit attributable to shareholders was a loss of CNY 57,755,604.23, with a significant increase in financial expenses due to rising interest-bearing liabilities[11]. - The net cash flow from operating activities was negative at CNY -1,996,641,650.48, reflecting a decrease of 193.64% year-on-year due to increased cash outflows for land reserves[11]. - The basic earnings per share for the period was CNY -0.13, indicating a worsening loss compared to the previous year[6]. - The total comprehensive loss attributable to the parent company for Q1 2024 was CNY -57,755,604.23, compared to CNY -42,833,379.69 in Q1 2023, indicating a decline in performance[29]. - The net loss for Q1 2024 was CNY 74,250,923.25, compared to a net loss of CNY 39,097,489.41 in Q1 2023, reflecting an increase in losses of approximately 89.8%[28]. - Operating profit for Q1 2024 was CNY -70,626,994.73, worsening from CNY -26,325,927.33 in Q1 2023[28]. - The basic earnings per share for Q1 2024 was CNY -0.13, compared to CNY -0.09 in Q1 2023, reflecting a worsening in earnings performance[29]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 21,317,355,668.14, showing a slight increase of 0.72% from the end of the previous year[7]. - Total liabilities for Q1 2024 were CNY 18,855,174,606.23, up from CNY 17,823,800,043.01 in Q1 2023, indicating an increase of approximately 5.8%[24]. - The equity attributable to shareholders decreased by 54.19% to CNY 729,166,757.25, primarily due to the repayment of perpetual bonds[11]. - The equity attributable to shareholders of the parent company decreased to CNY 729,166,757.25 in Q1 2024 from CNY 1,591,869,210.80 in Q1 2023, a decline of about 54.3%[24]. Cash Flow - The company reported a cash balance of RMB 2.659 billion as of March 31, 2024, down from RMB 4.590 billion at the end of 2023, indicating a decrease of approximately 42.3%[22]. - The net cash flow from operating activities for Q1 2024 was CNY -1,996,641,650.48, a significant decrease from CNY 2,132,184,522.50 in Q1 2023[32]. - Cash inflow from operating activities totaled CNY 1,191,186,366.36 in Q1 2024, down from CNY 2,713,570,626.30 in the same period last year[31]. - Cash outflow from operating activities surged to CNY 3,187,828,016.84 in Q1 2024, compared to CNY 581,386,103.80 in Q1 2023[32]. - The company reported a net increase in cash and cash equivalents of CNY -1,930,370,694.89 for Q1 2024, contrasting with an increase of CNY 1,521,269,146.23 in Q1 2023[33]. - The cash and cash equivalents balance at the end of Q1 2024 was CNY 2,630,761,069.08, down from CNY 3,020,632,055.09 at the end of Q1 2023[33]. - The net cash flow from financing activities was CNY 66,433,368.60 in Q1 2024, a recovery from a net outflow of CNY -610,852,010.27 in Q1 2023[32]. Operational Highlights - The total area of resumed construction by the company's subsidiaries reached 558,200 square meters, with a completed area of 91,700 square meters during the reporting period[18]. - The company won the bidding for the land use rights of a residential mixed-use project in Fengtai District, Beijing, for RMB 3.841 billion[16]. - The company added 30,100 square meters to its land reserves during the reporting period, with no new construction area initiated[18]. - The company sold a total of 84 parking spaces during the reporting period, with the highest sales from the Beijing Chengjian project, which sold 58 spaces[19]. Strategic Initiatives - The company’s board approved a financing plan for 2024, indicating strategic financial planning for future operations[16]. - The company plans to enhance its market expansion efforts and invest in new product development to improve future performance[28].