DIMA(SH:600565)2024-04-29 14:25Financial Performance - The company's operating revenue for Q1 2024 was CNY 5,195,706,652.63, representing a year-on-year increase of 16.21%[5] - The net profit attributable to shareholders was a loss of CNY 142,818,525.83, with a basic and diluted earnings per share of -0.06 yuan[5] - The net cash flow from operating activities was -CNY 196,921,190.99, a decrease of 180.94% compared to the previous year[5] - Total assets at the end of the reporting period were CNY 52,248,034,179.09, down 7.51% from the end of the previous year[6] - Shareholders' equity attributable to the company was CNY 1,309,088,902.75, a decrease of 10.64% from the previous year[6] - Non-recurring gains and losses totaled -CNY 128,575,228.45 for the period[8] - The company reported a significant increase in financial expenses, totaling ¥190,802,294.79 in Q1 2024, compared to ¥48,843,428.97 in Q1 2023[32] - The net loss attributable to shareholders was ¥142,818,525.83 in Q1 2024, compared to a loss of ¥100,252,400.30 in Q1 2023[33] - The company reported a significant decrease in cash flow from operating activities, down by 180.94% due to reduced contract signings and collections[17] Project Development - The company holds a total of 774,631 square meters of land for future development, with 256,282 square meters currently under development[9] - The company has significant cooperative development projects, with a 95% equity stake in a project in Yibin and 59.33% in a project in Mianyang[9] - The company has completed several projects, including the Dongyuan Biyuan residential and commercial project in Shanghai, with a total investment of CNY 2.182 billion and a completed area of 75,634 square meters[10] - The company has ongoing projects such as the Wanyeyuanjing commercial project in Shanghai, with a total investment of CNY 1.121 billion and a construction area of 31,288 square meters[10] - The company is developing the Zhongjun Dongyuan Jingyue residential and commercial project in Nanjing, with a total investment of CNY 3.027 billion and a construction area of 300,280 square meters[10] - The company has ongoing projects in Wuhan, including the Wuhan Qicheng residential and commercial project, with a total investment of CNY 9.835 billion and a construction area of 1,114,448 square meters[10] - The company is expanding its market presence with multiple ongoing projects across various cities, including Nanjing, Suzhou, and Wuhan, indicating a strategic focus on urban development[10] - The total area of ongoing and completed projects reached 25,131,750 square meters, with a total investment of 18,601 million[12] - The company has a strong pipeline of projects, with significant areas under construction in cities like Zhengzhou and Chongqing, totaling over 2 million square meters[12] Sales and Revenue - The company reported a total of 44,132 square meters of sales in the first quarter of 2024, generating revenue of 100,745,000 yuan[14] - The company has a pending revenue recognition of 3,099 square meters in the Nanjing region, with a total of 29,372,000 yuan to be recognized[14] - The company has a significant project in Wuhan, with 258,445 square meters available, of which 4,834 square meters were sold, generating revenue of 1,682,000 yuan[14] - The company reported 9,034 square meters sold in Zhengzhou, generating revenue of 21,870,000 yuan, with a pending area of 12,098 square meters[14] - In the Hangzhou region, the company has a total of 46,533 square meters available, with 2,233 square meters sold, generating significant revenue of 200,502,000 yuan[14] - The total sales area for the projects reported reached 2,823,656 square meters, with a total of 1,046,983 square meters sold[15] Financial Challenges - Tax and additional charges increased by 37.61% due to the rise in land value tax related to project delivery[17] - Financial expenses surged by 290.64%, primarily due to increased interest expenses recognized during the period[17] - Investment income decreased by 70.33%, attributed to reduced investment returns from joint ventures[17] - Total profit declined by 152.74%, mainly due to a decrease in gross profit from delivered projects[17] - Net profit fell by 219.96%, reflecting the overall downturn in project profitability[17] - Cash received from sales of goods and services dropped by 54.79%, linked to a decline in contract signings and collections in the real estate sector[17] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 82,023[19] - The largest shareholder, Chongqing Dongyin Holding Group Co., Ltd., holds 35.5% of the shares, totaling 885,737,591 shares, which are currently frozen[19] Management and Governance - The management has committed to ensuring the accuracy and completeness of the financial report, taking legal responsibility for its content[2] - The board of directors appointed a new chairman, Pan Chuan, on April 12, 2024, following the resignation of the previous chairman, Huang Lijin[22] - The company continues to actively coordinate with creditors to resolve overdue borrowings[22] Market Position - The company is investing in new technologies and project developments to enhance its portfolio and market competitiveness[10] - The company is actively pursuing strategic acquisitions and partnerships to bolster its growth and expand its market footprint[10] - The company's stock price fell below RMB 1 on February 7, 2024, and again on April 24, 2024, prompting risk warning announcements regarding potential delisting[21]