CFLD(SH:600340)2024-04-29 10:14Financial Performance - The company's operating revenue for Q1 2024 was ¥1,332,987,461.49, representing a decrease of 77.31% compared to the same period last year[3]. - The net profit attributable to shareholders of the listed company was -¥1,925,047,255.88, a decline of 360.79% year-on-year[3]. - The net cash flow from operating activities was -¥547,351,904.56, down 431.69% compared to the previous year[3]. - The total revenue for Q1 2024 was 1.33 billion RMB, significantly down from 5.88 billion RMB in Q1 2023, representing a decline of approximately 77.6%[27]. - The total operating costs for Q1 2024 were 4.37 billion RMB, compared to 8.38 billion RMB in Q1 2023, indicating a decrease of about 47.8%[27]. - The net profit for Q1 2024 was -2,067,251,019.23 RMB, compared to a profit of 827,186,310.71 RMB in Q1 2023, indicating a significant decline[28]. - Operating profit for Q1 2024 was -2,488,489,844.89 RMB, compared to -162,903,269.02 RMB in the same period last year[28]. - The total comprehensive income for Q1 2024 was -2,050,780,936.36 RMB, compared to 1,312,273,814.24 RMB in Q1 2023[29]. - Basic and diluted earnings per share for Q1 2024 were both -0.49 RMB, compared to 0.19 RMB in Q1 2023[29]. Assets and Liabilities - The total assets at the end of the reporting period were ¥349,408,175,848.06, a decrease of 0.59% from the end of the previous year[4]. - The company's current assets totaled 305.01 billion RMB as of March 31, 2024, slightly down from 307.63 billion RMB in the previous year[22]. - The company's total liabilities were reported at 329.15 billion RMB, a slight decrease from 329.64 billion RMB year-over-year[24]. - The company's total liabilities decreased to ¥119.65 billion from ¥121.22 billion, a reduction of approximately 1.3%[37]. - The company's total equity decreased to ¥15.15 billion from ¥15.38 billion, a decline of approximately 1.5%[37]. Shareholder Information - The total number of common shareholders at the end of the reporting period was 138,769[8]. - Huaxia Happiness Holdings Co., Ltd. held 450,209,366 shares, accounting for 11.50% of the total shares[9]. - China Ping An Life Insurance Company held a total of 980,328,766 shares through various accounts, representing 25.19% of the total shares[9]. - The top 10 shareholders collectively held 588,576,738 shares, which is 14.47% of the total shares[9]. - The company had a total share capital of 3,913,720,342 shares at the end of the reporting period[9]. - 756,845 shares held by Huaxia Holdings were in a frozen state due to stock pledge transactions[9]. - The company reported no changes in the participation of major shareholders in margin trading and securities lending[9]. Debt Restructuring and Financial Strategy - The company has restructured approximately 1,897.51 billion RMB of its financial debt, which represents 86.6% of the total financial debt[15]. - The company has received a total of 27.5 billion RMB as the first payment for asset transfers related to its debt restructuring plan[18]. - The company has initiated the "Debt-to-Equity Swap Plan," with approximately 106.99 billion RMB of financial debt being compensated through equity in the "Happiness Selected Platform"[17]. - The company has established a trust plan with a total scale of approximately 25.568 billion RMB to offset financial debts as part of its debt restructuring plan[19]. - The company plans to use the trust plan beneficiary rights to offset financial debts totaling no more than 24.001 billion RMB[19]. Real Estate Development - The company experienced a 77.31% decrease in real estate development revenue, which significantly impacted overall performance[6]. - The company has delivered a total of 116,117 units, equating to 1.413 million square meters, across 117 projects since Q4 2020, with 63 projects and 64,712 units delivered in 2023[13]. - In Q1 2024, the company commenced construction on 390 square meters of new projects and completed 74,673.37 square meters of projects[12]. - The company has a total of 4,058,333.94 square meters of projects under construction and 6,604,009.02 square meters completed across various regions[14]. - The company has a total of 21 projects and 24,469 units that resumed construction in 2024[13]. - The company has a significant presence in various regions, with specific areas like the Huai'an region having 282,019.04 square meters involved in cooperative development projects[11]. - The company has achieved a 90% involvement in cooperative development projects in the Yongqing area, with 115,276.12 square meters allocated[11]. Cash Flow and Financial Activities - The net cash flow from operating activities in Q1 2024 was -547,351,904.56 RMB, compared to a positive cash flow of 165,018,306.02 RMB in Q1 2023[32]. - Investment activities generated a net cash flow of 1,951,495,710.14 RMB in Q1 2024, a significant improvement from -4,591,011,822.63 RMB in Q1 2023[33]. - The company's cash and cash equivalents stood at approximately 7.27 billion RMB, an increase from 6.48 billion RMB in the previous year[22]. - The financial expenses for Q1 2024 were ¥173.76 million, down from ¥272.39 million in Q1 2023, showing a decrease of about 36.3%[38]. - The net cash flow from investing activities was -$85,967.66 thousand, with cash inflows totaling $10,209.00 thousand and outflows of $96,176.66 thousand[41].