SID(SH:600748)2024-04-29 08:11Financial Performance - The company's operating revenue for Q1 2024 was ¥540,100,024.36, a decrease of 80.62% compared to the same period last year[5]. - The net profit attributable to shareholders was -¥148,399,807.64, representing a decline of 151.86% year-over-year[5]. - The net cash flow from operating activities was -¥1,378,146,677.89, down 198.83% from the previous year[5]. - Basic and diluted earnings per share were both -¥0.08, a decrease of 150.00% compared to the same period last year[5]. - Total revenue for Q1 2024 was approximately $540.1 million, a significant decrease of 80.6% compared to $2.79 billion in Q1 2023[24]. - Net profit for Q1 2024 was a loss of approximately $152.5 million, compared to a profit of $295.2 million in Q1 2023[25]. - The total comprehensive income for Q1 2024 was -152,474,654.23 RMB, down from 295,213,443.20 RMB in the same period last year[26]. - Cash inflows from operating activities in Q1 2024 totaled 645,808,954.48 RMB, a decrease of approximately 41% from 1,094,967,096.93 RMB in Q1 2023[29]. - Cash outflows from operating activities in Q1 2024 were 2,023,955,632.37 RMB, compared to 1,556,152,913.48 RMB in Q1 2023, representing an increase of about 30%[29]. - The net cash flow from operating activities for Q1 2024 was -1,378,146,677.89 RMB, worsening from -461,185,816.55 RMB in Q1 2023[29]. Assets and Liabilities - Total assets at the end of the reporting period were ¥30,823,337,598.28, an increase of 0.34% from the end of the previous year[6]. - Total assets as of March 31, 2024, were approximately $30.82 billion, slightly up from $30.72 billion at the end of 2023[21]. - Current assets totaled approximately $18.71 billion, an increase from $18.53 billion at the end of 2023[20]. - Total liabilities increased to approximately $19.67 billion in Q1 2024 from $19.42 billion in Q4 2023[21]. - Long-term borrowings increased significantly to approximately $12.11 billion from $8.08 billion[21]. - The equity attributable to shareholders decreased by 1.48% to ¥9,897,671,524.78 compared to the end of the previous year[6]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 39,514[11]. - The largest shareholder, Shanghai Shihua Development Co., Ltd., holds 896,435,864 shares, accounting for 48.6% of total shares[11]. - The company’s major shareholders are primarily controlled by the Shanghai State-owned Assets Supervision and Administration Commission[12]. - The company’s stock structure includes significant holdings by state-owned entities, with the top ten shareholders holding a substantial portion of the shares[11]. - The number of shares lent out by major shareholders through margin trading was 3,508,100 shares at the end of the reporting period[12]. Operational Changes and Plans - The company plans to focus on improving cash flow management and restructuring its debt to enhance financial stability moving forward[9]. - The company plans to increase capital in its wholly-owned subsidiary Shanghai Shijiu Real Estate Co., Ltd. by RMB 1.74 billion[13]. - The company reported a change in land reserve status, with part of the land in Qingpu District being repurposed for public facilities while maintaining residential development volume[15]. - The company has faced administrative penalties from the China Securities Regulatory Commission, including a public reprimand from the Shanghai Stock Exchange[14]. - The company reported a significant increase in asset impairment losses, with a rise of 482,204.24% attributed to the reversal of inventory write-downs[9]. Cash Flow Activities - Cash inflows from financing activities in Q1 2024 were 4,418,600,000.00 RMB, significantly higher than 1,381,924,870.10 RMB in Q1 2023[30]. - The net cash flow from financing activities for Q1 2024 was 1,257,192,971.74 RMB, compared to -160,072,297.16 RMB in Q1 2023, indicating a positive turnaround[30]. - The ending cash and cash equivalents balance as of Q1 2024 was 3,784,106,102.34 RMB, down from 7,326,466,345.21 RMB at the end of Q1 2023[30]. - The company reported a cash outflow of 3,161,407,028.26 RMB from financing activities in Q1 2024, compared to 1,541,997,167.26 RMB in Q1 2023, reflecting increased financial obligations[30]. Research and Development - Research and development expenses for Q1 2024 were approximately $6.1 million, compared to $2.3 million in Q1 2023, indicating increased investment in innovation[25].