Guangdong Shirongzhaoye Co., Ltd. (stock code: 002016) is a company mainly engaged in real estate development and sales. The company is committed to providing customers with high-quality residential and commercial property products. In the first quarter of 2024, Shirongzhaoye released the latest financial report, and this article will provide a detailed analysis and discussion of the asset and liability data, profit data, and cash flow data in the report.

At the end of this reporting period, the total assets of Shirongzhaoye were 6.171 billion yuan, a decrease of 6.62% from the end of the previous year of 6.609 billion yuan. The main reasons for the decrease in assets include a 70.52% decrease in monetary funds, mainly due to the payment of land value-added tax settlement taxes for the North District of Cuihu Gardens Phase II. In addition, trading financial assets decreased by 60 million yuan, bills receivable decreased by 95.15%, financing receivables decreased by 2.9 million yuan, and other non-current assets decreased by 63.28%. Although prepaid expenses and other current assets increased by 134.65% and 56.06%, respectively, the overall assets still showed a downward trend. In terms of liabilities, the end-of-period balance was 1.301 billion yuan, a decrease of 25.85% from the beginning of the period of 1.754 billion yuan. The asset-liability ratio fell from 26.54% at the beginning of the period to 21.07%, indicating that the company has to some extent reduced its financial leverage.

In terms of profit data, the operating income of Shirongzhaoye in this reporting period was 254 million yuan, a 15.33% decrease from the same period last year of 300 million yuan. The net profit attributable to shareholders of the listed company was 118.8 million yuan, a year-on-year decrease of 80.48%. The net profit after deducting non-recurring gains and losses was 115.5 million yuan, a year-on-year decrease of 80.71%. The gross profit margin decreased from 46.5% in the same period last year to 31.06%, and the net profit margin decreased from 21.34% to 6.74%. Operating costs increased to 175 million yuan, while operating profit decreased from 8.435 million yuan in the same period last year to 2.548 million yuan. The management expenses increased by 50.75%, investment income decreased by 86.34%, and credit impairment losses decreased by 76.33%. These factors jointly led to the significant decline in net profit.

In terms of cash flow, Shirongzhaoye's net cash flow from operating activities in this reporting period was -690 million yuan, a 333.99% decrease from the same period last year of -159 million yuan. The sub-total of cash inflows from operating activities decreased by 6.47% compared with the same period last year to 525 million yuan. The sub-total of cash outflows increased to 1.216 billion yuan, a year-on-year increase of 68.65%. The main reason was the payment of land value-added tax settlement taxes for the North District of Cuihu Gardens Phase II. The net cash flow from investing activities decreased by 127.33% compared with the same period last year, mainly due to the increase in investment in the construction of the Wanrong Commercial Center-Cooperative Commercial and Hotel Project.

In conclusion, Shirongzhaoye faced significant financial pressure in the first quarter of 2024. Although the company has achieved some results in reducing liabilities, the significant decline in operating income and net profit, as well as the significant decrease in net cash flow from operating activities, show that the company still needs to further optimize and improve in terms of market environment and internal management. In the future, Shirongzhaoye needs to take more proactive measures in improving sales revenue, controlling costs, and optimizing cash flow management to achieve sustainable development.