保利发展(600048) - 2024 Q1 - 季度财报

Revenue and Profit Performance - Revenue for the first quarter of 2024 was RMB 4,974.85 million, a year-on-year increase of 24.51%[4] - Net profit attributable to shareholders of the listed company was RMB 222.36 million, a year-on-year decrease of 18.28%[4] - Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was RMB 211.61 million, a year-on-year decrease of 20.34%[4] - Basic earnings per share were RMB 0.19, a year-on-year decrease of 17.91%[4] - Company's revenue increased by 24.51% YoY to 49.748 billion yuan, while net profit attributable to shareholders decreased by 18.28% YoY to 2.224 billion yuan in Q1 2024[10] - Total revenue for Q1 2024 reached 49.75 billion RMB, a 24.4% increase compared to 39.99 billion RMB in Q1 2023[15] - Net profit attributable to parent company shareholders was 2.22 billion RMB, a decrease of 18.3% from 2.72 billion RMB in Q1 2023[18] - Operating income for Q1 2024 was 99.74 million yuan, up from 46.48 million yuan in Q1 2023[26] - Net profit loss for Q1 2024 was 716.75 million yuan, an improvement from 873.99 million yuan loss in Q1 2023[27] Assets and Liabilities - Total assets at the end of the reporting period were RMB 142,435.58 million, a year-on-year decrease of 0.87%[4] - Equity attributable to shareholders of the listed company was RMB 20,003.04 million, a year-on-year increase of 0.75%[4] - Company's total assets decreased by 0.87% to 1.424356 trillion yuan, and shareholders' equity increased by 0.75% to 200.03 billion yuan as of Q1 2024[10] - Total liabilities decreased to 1.08 trillion RMB in Q1 2024 from 1.10 trillion RMB in Q1 2023[14] - Total equity increased to 343.55 billion RMB in Q1 2024 from 337.03 billion RMB in Q1 2023[14] - Company's total liabilities decreased by 0.66 percentage points to 75.88% as of Q1 2024[10] - Total assets at the end of the period were 340,159,539,719.12 RMB, up from 327,586,476,397.47 RMB at the beginning of the period[24] - Total liabilities at the end of the period were 198,395,551,007.80 RMB, slightly up from 197,884,051,576.31 RMB at the beginning of the period[24] - Total liabilities increased to 290.17 billion yuan, up from 276.07 billion yuan in the previous period[25] - Long-term borrowings rose to 21.30 billion yuan, compared to 18.09 billion yuan in the previous period[25] - Total owner's equity decreased to 49.99 billion yuan from 51.51 billion yuan[25] Cash Flow and Financial Activities - Company's monetary funds balance was 129.554 billion yuan, with a comprehensive collection rate of 91.53% in Q1 2024[10] - Sales of goods and services received cash of 53,031,179,820.36 RMB, a decrease from 76,442,367,292.71 RMB in the previous period[20] - Net cash flow from operating activities was -33,305,867,568.54 RMB, compared to -14,162,412,369.44 RMB in the previous period[20] - Net cash flow from investing activities was -1,028,820,696.45 RMB, compared to -868,772,213.02 RMB in the previous period[21] - Net cash flow from financing activities was 15,899,237,660.91 RMB, compared to -9,506,755,561.35 RMB in the previous period[21] - Total cash and cash equivalents at the end of the period were 128,145,836,030.11 RMB, down from 150,839,767,174.79 RMB at the beginning of the period[21] - Cash flow from operating activities showed a net outflow of 21.73 billion yuan, compared to 11.45 billion yuan outflow in Q1 2023[29] - Cash received from sales of goods and services was 77.23 million yuan, up from 19.74 million yuan in Q1 2023[29] - Cash paid for goods and services was 12.47 million yuan, down from 14.93 million yuan in Q1 2023[29] - Cash paid to employees decreased to 47.05 million yuan from 51.64 million yuan in Q1 2023[29] - Investment activities cash outflow totaled 189,374.33 thousand and 185,846.40 thousand respectively[30] - Net cash flow from investment activities was 58,055,833.28 thousand and 57,299,153.60 thousand respectively[30] - Cash inflow from financing activities was 19,200,000,000.00 thousand and 7,000,000,000.00 thousand respectively[30] - Cash outflow for debt repayment was 5,533,700,000.00 thousand and 4,097,000,000.00 thousand respectively[30] - Cash outflow for dividends, profits, or interest payments was 747,933,011.32 thousand and 862,239,072.74 thousand respectively[30] - Net cash flow from financing activities was 12,029,203,335.62 thousand and 1,023,330,744.37 thousand respectively[30] - Net increase in cash and cash equivalents was -9,647,157,979.90 thousand and -10,373,356,402.42 thousand respectively[30] - Ending balance of cash and cash equivalents was 1,923,791,061.84 thousand and 19,776,672,382.77 thousand respectively[30] Shareholder Information - The largest shareholder, Poly Southern Group Co., Ltd., holds 37.69% of the shares[6] - The second largest shareholder, Taikang Life Insurance Co., Ltd., holds 3.70% of the shares[6] - The third largest shareholder, China Poly Group Corporation, holds 3.02% of the shares[6] Market and Sales Performance - National commercial housing sales area decreased by 19.4% YoY to 227 million square meters, and sales amount decreased by 27.6% YoY to 2.14 trillion yuan in Q1 2024[10] - Company's contracted sales amount decreased by 44.81% YoY to 62.984 billion yuan, and contracted sales area decreased by 41.84% YoY to 3.6687 million square meters in Q1 2024[10] - Company's new construction area increased by 42.9% YoY to 2.83 million square meters, and completed area increased by 5.0% YoY to 5.42 million square meters in Q1 2024[10] - Company's inventory remained stable at 871.897 billion yuan as of Q1 2024[12] - Inventory increased to 1,996,601,839.72 RMB from 1,926,646,086.40 RMB at the beginning of the period[22] Operating and Investment Activities - Operating profit for Q1 2024 was 5.34 billion RMB, slightly higher than 5.32 billion RMB in Q1 2023[17] - R&D expenses decreased to 9.07 million RMB in Q1 2024 from 15.62 million RMB in Q1 2023[17] - Investment income for Q1 2024 was 399.99 million RMB, a significant improvement from a loss of 104.01 million RMB in Q1 2023[17] - Total comprehensive income for Q1 2024 was 4.05 billion RMB, up from 3.91 billion RMB in Q1 2023[18] - Minority interest in net profit increased to 1.76 billion RMB in Q1 2024 from 1.24 billion RMB in Q1 2023[18] - Long-term equity investments were 29,085,193,944.96 RMB, slightly down from 29,097,495,700.70 RMB at the beginning of the period[24] - Cash received from interest and commissions was 31,955,540.09 RMB[20] - Operating costs for Q1 2024 were 36.05 million yuan, compared to 30.14 million yuan in Q1 2023[27] Non-Recurring Items - Non-recurring gains and losses for the period amounted to RMB 107.50 million[5]