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Bright Real Estate Net Profit Decline 30% Operating Cash Flow Decline 98% Funds Gap 6.1 Billion Annual Financing Nearly 5 Billion "Thirst-quenching"
After the rapid growth in 2016 and 2017, Guangming Real Estate (600708. SH) has experienced a significant downward trend since 2018.
The Changjiang Business Daily reporters combed their financial reports and found that in 2016 and 2017, the company's net returns to home increased by 98.15% and 92.55% respectively. By 2018, Bright Real Estate will achieve 20.494 billion yuan in total operating income, a slight decrease of - 153% compared with the previous year, while the net profit attributable to shareholders of parent company will be 1.418 billion yuan, a decrease of 27.17% compared with the previous year. In 2018, the net cash flow generated by business activities was - 8.734 billion yuan, down 620.30% year on year, a new low since listing.
In the first quarter of 2019, the company's total operating income increased by 6.27% year-on-year, but the net profit of shareholders belonging to the parent company decreased by 28.26% year-on-year. After deducting recurring gains and losses, the decline of net returns to the mother increased to 29.22%.
Reporters from the Yangtze Business Daily noted that under the weak growth rate of performance, its liabilities remained high, and the asset-liability ratio hovered around 80% for several consecutive years. In 2018, the scale of interest-bearing liabilities rose sharply, amounting to 36.04 billion yuan, an increase of 63.70% over the previous year.

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