Citychamp Dartong: 1Q21 Result Highlights Revenue Fall Of 35.36%

A glance at the company’s profile:

Citychamp Dartong Co. Ltd. [600067:CH] is a Chinese based company that engages mainly in operating a real estate businesses. The real estate business of the company involves the provision of housing renovation, housing loans, real estate brokerage, and other related services. The company also engages in other businesses which include the manufacturing of special enameled wire, development of news energy and other related businesses. The company conducts its business activities within the Chinese domestic regions and overseas. Citychamp Dartong was founded and incorporated in April 1988 while its headquarter is located at Fuzhou, China. The executive head of the company is Xiaohuang Han with up to 1,186 other employees currently working for the company.

A glance at the previous annual financial performances:

A glance at the previous annual financial performances for the last nine years shows some consistent and steady growth in major financial indicators except for the Fy19 period which proved otherwise. These steady and consistent growths are vastly attributed to the steady and increasing need for the shelter as a result of the vast and rapid population growth of China and other neighboring countries. The management of the company released the financial performance report of the Fy20 period highlighting significant growth and recovery from the downtrend in Fy19 period. The Fy20 result highlights significant improvement in most major financial indicators. From a glance at the financial data that was showcased on reuters platform, some of the financial indicators performed as follows;

Total revenue: The financial report of the Fy20 period showed that the total revenue generated from business improved significantly as the total revenue generated from business increased to CNY8.89 billion which shows that it increased by 12.48% year-on-year when compared and analyzed from the CNY7.78 billion that was reported in the Fy19’s financial result.

Gross profit: The financial result that was posted by reuters also revealed that the gross profit during that period slightly reduced to CNY1.66 billion which shows that it increased by 4.59% year-on-year when compared and analyzed from the CNY1.74 billion that was reported in the Fy19’s financial result. The profit made by the company was strongly affected by the significant growth of expenses incurred during business activities which accounted to 75% of the total income generated from business during that period

Debt rate: The financial data of the company for the period in quote also showcased that the total debt accumulated during that period significantly increased to CNY7.99 billion which shows that it increased by 3.37% year-on-year when compared and analyzed from the CNY7.72 billion that was reported in the Fy19’s financial result.

A glance at the 1Q21 financial result:

The financial result of the company for the first quarter of Fy21 period highlights strong poor performances in most major financial indicators. According to the financial result, the revenue generated from business amounted to CNY2.12 billion which shows that it decreased by 35.36% year-on-year when compared and analyzed from the CNY3.28 billion that was reported in the 4Q20’s financial result.

Sources:

https://www.reuters.com/companies/600067.SS/financials/income-statement-quarterly

https://www.reuters.com/companies/600067.SS/financials/income-statement-annual

https://www.marketscreener.com/quote/stock/CITYCHAMP-DARTONG-CO-LT-6497630/company/

https://www.bloomberg.com/profile/company/600067:CH