EBJB(SH:600622)2024-04-29 09:17Financial Performance - The company's operating revenue for Q1 2024 was ¥341,627,878.39, representing a decrease of 30.75% compared to the same period last year[5] - The net profit attributable to shareholders was -¥87,700,729.44, a decline of 1,701.64% year-on-year[5] - The basic and diluted earnings per share were both -¥0.06, reflecting the company's loss during the quarter[5] - The weighted average return on equity was -1.76%, a decrease of 1.84 percentage points compared to the previous year[5] - In Q1 2024, the company reported a net loss of CNY 133,004,448.63, compared to a net loss of CNY 12,004,663.00 in Q1 2023, indicating a significant decline in profitability[23] - The total comprehensive loss for Q1 2024 was CNY 132,885,672.74, compared to a loss of CNY 12,614,980.75 in Q1 2023[23] Cash Flow and Liquidity - The net cash flow from operating activities was -¥24,171,188.86, indicating a negative cash flow situation[5] - The company experienced a net cash outflow from operating activities of CNY 24,171,188.86 in Q1 2024, compared to a smaller outflow of CNY 5,460,782.08 in the same period last year[25] - Cash and cash equivalents increased to CNY 2,648,604,059.13 as of March 31, 2024, up from CNY 2,559,018,114.72 at the end of 2023[20] - Cash and cash equivalents at the end of Q1 2024 totaled CNY 2,610,664,655.80, an increase from CNY 2,521,078,711.39 at the beginning of the quarter[26] - The company generated a net cash inflow from financing activities of CNY 107,924,075.75 in Q1 2024, contrasting with a net outflow of CNY 6,785,072.11 in Q1 2023[26] - Cash inflow from investment activities was CNY 102,096,362.52 in Q1 2024, a significant increase from CNY 67,540,017.33 in Q1 2023[25] Assets and Liabilities - Total assets at the end of Q1 2024 were ¥24,646,379,853.26, a slight decrease of 0.32% from the end of the previous year[6] - Total liabilities increased to CNY 18,153,682,384.60 as of March 31, 2024, compared to CNY 18,044,223,775.61 at the end of 2023[21] - Current liabilities totaled CNY 8,359,453,157.89, a slight decrease from CNY 8,435,700,031.43 at the end of 2023[20] - Long-term borrowings rose to CNY 7,154,104,922.91 as of March 31, 2024, compared to CNY 7,045,892,822.51 at the end of 2023[20] - The company's equity attributable to shareholders decreased to CNY 4,934,383,447.52 from CNY 5,022,023,601.26 at the end of 2023[21] Operational Highlights - The decline in operating revenue was primarily due to reduced sales revenue from the real estate development business[8] - The company managed a total of 57 real estate projects by the end of the reporting period, with an asset management scale of RMB 24.443 billion[17] - The company reported real estate asset management revenue of RMB 89.645 million, with management and consulting service fees contributing RMB 64.297 million[17] - The company’s total construction area for the Dream of Joy project in Kunshan was 216,268.91 square meters, with cumulative sales area reaching 159,725.16 square meters[16] - The company’s rental area for the Chongqing Chaotianmen project was 119,523.25 square meters, with 116,344.11 square meters already leased[17] Financial Instruments and Debt - The company registered and issued non-financial corporate debt financing tools totaling up to RMB 2.3 billion, with a registered amount of RMB 1.9 billion approved by the trading association[12] - The company issued the first phase of medium-term notes for 2024, amounting to RMB 1 billion, with a term of 1+1 years and an interest rate of 5%[12] - The company extended a financial assistance agreement for RMB 950 million with Guangda Holdings, with the repayment period extended by 9 months until October 18, 2024[13] - The company signed a pledge agreement to secure the aforementioned financial assistance with a collateral of RMB 426 million receivables from a consolidated entity[14] - The company secured an additional financial assistance of up to RMB 410 million from Shanghai Angui, with an annual interest rate of 6.5%[15] - The company completed the full redemption and interest payment of its first phase medium-term notes issued in 2023, totaling RMB 1.0447 billion[16] Investment Performance - Net loss from investments in associates and joint ventures was CNY 28,305,525.10 in Q1 2024, compared to a gain of CNY 32,244,766.59 in Q1 2023[22] - The company recognized a loss of -¥2,013,414.60 from fair value changes of financial assets and liabilities[7]