Cccg Real Estate Corporation Limited(000736) 4 the quarterly report of 2022 released on April 28 shows that from January to March, the company achieved an operating revenue of 3.948 billion yuan, a year-on-year increase of 92.34%; The net profit attributable to the parent company was -415441 million yuan, a year-on-year decrease of 70.66%; The net profit after deducting non-profit was -533856 million yuan, a year-on-year decrease of 67.78%. The company said that the increase in operating revenue was mainly due to the increase in items delivered and settled in the current period.
During the reporting period, the company achieved full caliber contracted sales of 13.045 billion yuan, a year-on-year increase of 38.69%; The full caliber contracted sales area was 671300 square meters, an increase of 93.46%; The contracted sales amount of equity caliber was 10.603 billion yuan, a year-on-year increase of 101.46%. The new land reserve covers an area of 659100 m3, and the total land price is about 13.753 billion yuan.
According to Cccg Real Estate Corporation Limited(000736) relevant person in charge, most of the company’s main delivery projects in the first quarter of this year were obtained from 2018 to 2019. At that time, the overall land price was relatively high, and the prices of building materials and labor continued to rise during the project construction. Superimposed on the strict price restriction, sales restriction and loan restriction policies in various cities, the regulation was relatively strict, resulting in limited gross profit space for project sales.
At the same time, during the regulation period, there was a strong wait-and-see mood in the market, the speed of sales dematerialization and collection decreased, and the occupation time of financing loans increased, resulting in a further increase in the interest in the inventory cost, a further decline in the gross profit margin, and the gross profit margin of the original investment could not be realized.
It is worth noting that Cccg Real Estate Corporation Limited(000736) net debt ratio, asset liability ratio and cash short debt ratio exceeded the requirements of “three red lines” in 2021, but relevant indicators of the company returned to within the “three red lines” in the first quarter of this year. Therefore, combined with the study and judgment of recent market conditions, the company plans to adjust the plan of public issuance of corporate bonds, adjust the issuance scale from no more than 1 billion yuan to no more than 3 billion yuan, and adjust the guarantee arrangement to no guarantee.
