MEP(000993)2024-04-26 11:12Financial Performance - The company's operating revenue for Q1 2024 was ¥86,052,018.25, a decrease of 59.68% compared to ¥213,425,664.73 in the same period last year[5] - The net profit attributable to shareholders was -¥20,960,580.10, representing a decline of 197.53% from ¥21,491,351.35 in the previous year[5] - The net cash flow from operating activities was -¥37,257,763.69, a decrease of 198.98% compared to -¥12,461,635.43 in the same period last year[5] - The net profit for Q1 2024 was a loss of ¥22,668,890.14, compared to a profit of ¥21,051,188.94 in Q1 2023[22] - Basic and diluted earnings per share for Q1 2024 were both -¥0.05, compared to ¥0.05 in the same period last year[23] - The company reported a significant increase in management expenses to ¥30,830,764.08, compared to ¥28,144,409.14 in Q1 2023[21] - Other income for Q1 2024 was ¥1,153,813.54, down from ¥1,565,836.74 in the previous year[21] Assets and Liabilities - The company's total assets increased by 0.70% to ¥3,405,295,334.65 from ¥3,381,496,175.01 at the end of the previous year[5] - Total current assets decreased from 865,588,428.68 to 795,560,337.87, a reduction of approximately 8.06%[17] - The company's total liabilities increased to ¥921,388,316.45 in Q1 2024, up from ¥876,792,542.78 in the previous year[22] - Total current liabilities decreased from 324,315,896.23 to 300,103,630.68, a reduction of approximately 7.5%[18] - Long-term borrowings increased from 276,147,201.76 to 351,348,320.39, an increase of about 27.2%[18] - The company has a total of 1,740,081,740.92 in fixed assets, slightly down from 1,750,009,086.31[18] Cash Flow - The operating cash flow for Q1 2024 was a net outflow of ¥37,257,763.69, worsening from a net outflow of ¥12,461,635.43 in the previous year[24] - The net cash flow from investment activities was -82,708,181.49 CNY, indicating a significant outflow compared to the inflow of 107,356.00 CNY[26] - The net cash flow from financing activities was 62,214,887.37 CNY, showing a recovery from a previous outflow of -104,272,551.70 CNY[26] - The total cash and cash equivalents at the end of the period amounted to 247,498,686.42 CNY, down from 305,249,744.23 CNY at the beginning of the period[26] - The company experienced a net decrease in cash and cash equivalents of -57,751,057.81 CNY during the quarter[26] Investments - The company's debt investment increased by 53.60% to ¥204,675,750.00, primarily due to an increase in bank large-denomination certificates of deposit[8] - The construction in progress increased by 140.58% to ¥43,193,443.84, mainly due to the implementation of the second phase of the project by Minjian Xiapu Company[9] - The prepayments increased by 261.02% to ¥2,866,496.56, primarily due to an increase in prepaid rent[9] - The investment income decreased by 63.66% to ¥2,008,406.41, mainly due to a reduction in investment income from associated companies[11] - The company recorded an investment loss of ¥2,008,406.41, compared to a loss of ¥5,527,324.85 in Q1 2023[22] - The cash flow from investment activities included 70,397,710.00 CNY in cash payments for investments, highlighting the company's investment strategy[26] Shareholder Information - Total number of common shareholders at the end of the reporting period is 57,197[14] - The largest shareholder, Ningde State-owned Assets Investment Management Co., Ltd., holds 47.31% of shares, totaling 216,673,883 shares[14] Tax and Regulatory Changes - The income tax expense decreased by 77.31% to ¥2,393,747.35, attributed to reduced profitability in the real estate sector compared to the previous year[12] - The company has not yet audited the first quarter report, which may affect the reliability of the financial data presented[27] - The company is implementing new accounting standards starting in 2024, which may impact future financial reporting[27]