*ST Jinke (stock code: 000656) is a company mainly engaged in real estate development and sales. In recent years, the company has faced significant operating pressure, especially in the first quarter of 2024, where financial data showed a significant downward trend. This article will provide a detailed analysis and discussion of the balance sheet, profit and loss, cash flow and other aspects of *ST Jinke's 2024 Q1 report.

Firstly, looking at the balance sheet data, as of the end of Q1 2024, *ST Jinke's total assets decreased by 3.51% to RMB 216.354 billion from RMB 224.219 billion at the end of the previous year. This decrease mainly reflected the company's conservative strategy in asset management and investment. In addition, the total liabilities of the company decreased from RMB 203.591 billion at the end of the previous year to RMB 197.011 billion, a decrease of about 3.45%. Although the liability has decreased, the asset-liability ratio still increased from 90.8% to 91.06%, indicating that the company's financial leverage is still relatively high, and its debt repayment pressure cannot be ignored. The equity attributable to the company's shareholders decreased by 32.80% from RMB 3.508 billion to RMB 2.358 billion, showing a significant reduction in the company's shareholder equity.

Next, analyzing the profit data. In Q1 2024, *ST Jinke's operating income was RMB 7.504 billion, a year-on-year decrease of 24.59%. Operating profit was negative RMB 1.029 billion, while it was positive RMB 0.169 billion in the same period last year, indicating a deterioration in operating conditions. The net income attributable to shareholders of the listed company was negative RMB 1.161 billion, a year-on-year decrease of 293.12%, and the net income after deducting non-recurring gains and losses decreased significantly from negative RMB 0.091 billion in the same period last year to negative RMB 0.878 billion, a decrease of 867.25%. Basic earnings per share and diluted earnings per share were both negative RMB 0.22, a year-on-year decrease of 266.67%. The weighted average return on equity decreased from -2.40% in the same period last year to -39.60%, a decrease of 37.20 percentage points. These data indicate that the company faces significant challenges in its main business and overall profitability.

Turning to cash flow data. In Q1 2024, the net cash flow from operating activities of *ST Jinke was negative RMB 0.929 billion, a year-on-year decrease of 1814.67% from positive RMB 54.2071 million in the same period last year. The subtotal of cash inflows from operating activities was RMB 2.991 billion, a year-on-year decrease of 64.99%; and the subtotal of cash outflows from operating activities was RMB 3.921 billion, a year-on-year decrease of 53.82%. This data reflected that under the situation of shrinking sales scale, the cash inflow of the company decreased significantly, while the cash outflow was relatively stable, leading to a substantial decrease in net cash flow from operating activities. In addition, financial expenses increased from RMB 0.307 billion in the same period last year to RMB 1.098 billion, an increase of 257.84%, mainly due to the increase in borrowing interest expenses.

In summary, *ST Jinke's financial data for Q1 2024 shows a significant downward trend. The increase in the asset-liability ratio, the substantial loss of net income, and the deterioration of cash flow all indicate that the company is currently facing significant operating and financial pressure. In the future, the company needs to take effective measures to increase sales scale, optimize cost control, and strengthen cash flow management, in order to improve its financial situation and enhance its market competitiveness.