HKHC(SH:600162)2024-04-29 09:37Financial Performance - The company's operating revenue for Q1 2024 was CNY 378,717,561.48, representing a decrease of 68.22% compared to the same period last year[4]. - The net profit attributable to shareholders for Q1 2024 was CNY 24,946,283.16, down 71.87% year-on-year[4]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 1,102,400.10, a decline of 98.45% compared to the previous year[4]. - Basic and diluted earnings per share for Q1 2024 were both CNY 0.0076, down 71.96% from the same period last year[4]. - Net profit for Q1 2024 was a loss of ¥6.48 million, compared to a profit of ¥70.01 million in Q1 2023, representing a significant decline[18]. - The company recorded a total profit of ¥15.51 million in Q1 2024, a decrease of 89% from ¥140.74 million in Q1 2023[18]. Cash Flow and Liquidity - The net cash flow from operating activities was negative at CNY -19,030,022.44, reflecting a decrease of 106.41% year-on-year[4]. - The company reported a net cash outflow from operating activities of ¥19.03 million in Q1 2024, compared to an inflow of ¥296.91 million in Q1 2023[21]. - Cash and cash equivalents decreased to RMB 1,178,062,532.78 from RMB 1,565,987,660.73 as of December 31, 2023[12]. - Cash and cash equivalents at the end of Q1 2024 were ¥1,037.71 million, down from ¥1,902.48 million at the end of Q1 2023[23]. Assets and Liabilities - Total assets at the end of Q1 2024 were CNY 19,763,425,016.22, a decrease of 1.91% from the end of the previous year[5]. - The company's total assets amounted to RMB 19,763,425,016.22, a decrease from RMB 20,147,723,655.37 as of December 31, 2023[14]. - The company's total liabilities as of March 31, 2024, were RMB 13,450,188,565.19, compared to RMB 13,828,010,406.36 at the end of 2023[15]. - The company's current assets totaled RMB 14,081,487,658.00, down from RMB 14,453,690,618.21 as of December 31, 2023[14]. Shareholder Equity - Shareholders' equity attributable to shareholders was CNY 6,343,199,670.34, an increase of 0.39% compared to the end of the previous year[5]. - The company's equity attributable to shareholders was RMB 6,343,199,670.34, slightly up from RMB 6,318,253,387.18 as of December 31, 2023[15]. Performance Compensation - The company has received CNY 1.04 billion in performance compensation from Southern Xiangjiang, with a remaining balance of CNY 996.89 million to be paid[9]. - The company received performance compensation payments totaling RMB 199,649,329.20 from Southern Xiangjiang, with a remaining balance of RMB 90,489,000.00 as of July 28, 2022[10]. - As of July 31, 2023, the cumulative performance compensation received from Southern Xiangjiang reached RMB 173,689,478.606 million, with a remaining balance of RMB 30,000,000.00[11]. - Southern Xiangjiang and its affiliates committed to using a total of RMB 347,468,390.72 from cash dividends to pay off outstanding performance compensation and related interest[11]. Operating Costs and Expenses - Total operating costs for Q1 2024 were ¥394.74 million, down 63.5% from ¥1,079.70 million in Q1 2023[17]. - The company incurred financial expenses of ¥46.08 million in Q1 2024, a decrease of 58.8% from ¥111.65 million in Q1 2023[17]. - The company reported a significant increase in tax expenses, with Q1 2024 tax expenses at ¥21.99 million compared to ¥70.73 million in Q1 2023[18]. Revenue Decline - The significant decline in revenue was mainly due to reduced sales from real estate projects[6]. - Total operating revenue for Q1 2024 was ¥378.72 million, a decrease of 68.3% compared to ¥1,191.59 million in Q1 2023[17].