Financial Performance - The total contracted sales of the group increased to approximately RMB 31,388.6 million compared to the same period last year[2]. - The total revenue for the year ended December 31, 2021, rose to approximately RMB 9,906.5 million, up from RMB 8,778.6 million for the year ended December 31, 2020, representing an increase of about 12.8%[2]. - The profit for the year decreased to approximately RMB 666.3 million, down from RMB 850.9 million for the previous year, reflecting a decline of about 21.6%[2]. - The profit attributable to equity shareholders decreased to approximately RMB 598.9 million, compared to RMB 809.2 million for the previous year, a decrease of about 26%[2]. - The basic earnings per share for the year was RMB 1.22, down from RMB 1.65 for the previous year, indicating a decline of approximately 26%[2]. - The group did not recommend the payment of any final dividend for the year, compared to a final dividend of RMB 0.20 per share for the previous year[2]. - The group's operating profit for the year was approximately RMB 1,152.4 million, down from RMB 1,763.3 million in the previous year, a decrease of about 34.5%[3]. - The net profit attributable to equity shareholders for the year was approximately RMB 598.9 million, down from RMB 809.2 million in the previous year, with basic earnings per share of RMB 1.22[60]. Revenue Sources - The group's property sales revenue for 2021 reached RMB 9,534,602 thousand, an increase of 10.3% compared to RMB 8,646,232 thousand in 2020[12]. - Hotel revenue increased to RMB 33,829 thousand in 2021 from RMB 22,899 thousand in 2020, reflecting a growth of 47.8%[12]. - Engineering construction and design service revenue surged to RMB 127,187 thousand in 2021, compared to RMB 20,091 thousand in 2020, marking a significant increase of 532.5%[12]. - The total revenue from investment properties amounted to RMB 95,816 thousand in 2021, up from RMB 89,378 thousand in 2020, reflecting a growth of 7.9%[12]. - Other income increased to approximately RMB 83.5 million, compared to RMB 74.9 million in 2020, driven by higher interest income and changes in the fair value of derivative financial instruments[56]. Assets and Liabilities - The net asset value of the group increased to RMB 7,091.7 million from RMB 6,161.9 million, representing an increase of approximately 15%[6]. - The total liabilities of the group as of December 31, 2021, were RMB 55,769.7 million, compared to RMB 51,619.0 million in the previous year, indicating an increase of about 8%[5]. - The cash and cash equivalents decreased to RMB 4,252.2 million from RMB 7,385.9 million, reflecting a decline of approximately 42.9%[5]. - The total financial assets measured at amortized cost rose to RMB 5,878,020,000 from RMB 2,923,998,000, indicating a substantial growth in financial resources[35]. - The financial liabilities measured at amortized cost increased to RMB 4,751,914 thousand in 2021 from RMB 4,307,582 thousand in 2020, indicating a rise of approximately 10.3%[46]. Costs and Expenses - Employee costs rose significantly to RMB 381,038,000 in 2021, up from RMB 208,862,000 in 2020, marking an increase of 82.0%[21]. - Selling and marketing expenses rose to approximately RMB 621.5 million, up from RMB 495.6 million in the previous year, due to an increase in pre-sold properties[57]. - Administrative expenses increased to approximately RMB 524.4 million, compared to RMB 362.7 million in 2020, primarily due to higher employee costs and professional fees[58]. - Interest expenses for bank loans and other borrowings increased to RMB 1,369,407,000 in 2021 from RMB 1,117,707,000 in 2020, representing a growth of 22.6%[20]. Investments and Acquisitions - The company completed significant acquisitions, including the sale of 100% equity in Jia Biao Commercial Building (Qingdao) Limited for RMB 271.0 million and Harbin Lifeng Commercial Building Limited for RMB 350.0 million on November 16, 2021[65]. - The company acquired or secured rights to four property projects and land in 2021, enhancing its portfolio[67]. - The total contract value for land acquisitions in 2021 was approximately RMB 3,113.0 million, with the company responsible for RMB 1,986.4 million based on its equity interests[73]. Market Outlook and Strategy - The real estate market in mainland China is expected to face significant uncertainty in policies, with a need for further observation and assessment of market recovery[101]. - The company aims to enhance project investment quality and maintain sustainable development by strategically acquiring land in economically vibrant regions such as the Yangtze River Delta and the Greater Bay Area[99]. - The company has implemented measures to adjust investment structures, suspend investment plans, accelerate sales collections, and optimize organizational structures in response to the tightening of financial policies affecting the real estate market[100]. Compliance and Governance - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules during the reporting period[105]. - The annual performance review for the year ending December 31, 2021, has not been completed due to COVID-19 related restrictions, and the unaudited financial results have not been agreed upon by the company's auditors[106]. - The company will issue further announcements regarding audited results and any significant differences from the unaudited results once the audit process is completed[107].