YT(600692)2023-03-29 16:00Financial Performance - In 2022, the company's total revenue was ¥1,225,328,518.29, a decrease of 18.64% compared to ¥1,506,058,018.97 in 2021[24]. - The net profit attributable to shareholders was ¥4,580,357.31, down 89.96% from ¥45,610,933.61 in the previous year[24]. - The company's basic earnings per share decreased by 89.98% to CNY 0.0130 in 2022 compared to CNY 0.1297 in 2021[26]. - Operating revenue for 2022 decreased by 18.64% to CNY 1.444 billion, primarily due to a reduction in taxi transportation income and trade revenue[26]. - Net profit attributable to shareholders fell by 89.96% to CNY 0.0130 per share, largely due to a more than 50% decrease in high-margin real estate sales[26]. - The company's total operating revenue reached ¥1,212,824,831.91, with a gross profit margin of 8.05%, reflecting a decrease of 1.03 percentage points compared to the previous year[52]. - The net profit for 2022 was CNY 7,722,541.16, a decline of 82.91% compared to CNY 45,214,501.18 in 2021[188]. - The total profit for 2022 was CNY 2,991,385.30, a decrease of 92.0% from CNY 37,552,339.22 in 2021[192]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at -¥153,936,146.37, compared to -¥166,013,208.58 in 2021[24]. - The company's cash flow from financing activities increased by 321.55% to CNY 411,421,047.91, primarily due to increased loans for property projects[49]. - Cash and cash equivalents increased by 47.88% to CNY 671.35 million, accounting for 22.71% of total assets, primarily due to loan repayments and project funding[63]. - The company's operating cash flow for 2022 was negative CNY 153,936,146.37, an improvement from negative CNY 166,013,208.58 in 2021[196]. - The total cash and cash equivalents at the end of the period were 81,050,945.20 at the beginning of the year[199]. Assets and Liabilities - The total assets increased by 12.33% to ¥2,955,707,422.29 from ¥2,631,368,459.59 in 2021[25]. - Total liabilities increased to ¥1,966,996,954.85 in 2022 from ¥1,651,118,639.96 in 2021, which is an increase of approximately 19.1%[180]. - The asset-liability ratio stood at 66.55%, an increase of 3.80 percentage points, indicating a manageable level of debt[48]. - Inventory decreased to ¥1,032,594,226.97 in 2022 from ¥1,160,994,914.88 in 2021, indicating a decline of approximately 11.0%[179]. Business Operations and Strategy - The company is transitioning its real estate focus from commercial properties to affordable housing, reflecting a strategic shift in response to market conditions[37]. - The company is actively enhancing its traditional business operations, focusing on quality improvement and efficiency in the commercial service sector[41]. - The company is committed to risk management and process control to maintain stable business operations and partnerships with major enterprises[41]. - The company plans to invest approximately 1.35 billion yuan in the Chongming Changxing Island resettlement housing project, with additional investments of 0.8 billion yuan and 1.6 billion yuan for other housing projects and renewable energy projects respectively[130]. Governance and Compliance - The company has established a governance structure that includes a general meeting of shareholders, a board of directors, a supervisory board, and management, ensuring clear responsibilities and effective coordination[96]. - The board of directors operates in compliance with legal regulations and company bylaws, ensuring efficient and lawful decision-making processes[97]. - The company has improved its internal control system in accordance with regulatory requirements, enhancing the effectiveness of key business processes and control measures[98]. - The company ensures transparency in information disclosure by designating specific platforms for shareholders to access information equally[98]. Human Resources and Management - The total number of employees in the parent company is 84, while the main subsidiaries employ 498, resulting in a total of 582 employees[121]. - The company has a performance assessment method in place for determining the remuneration of its internal directors and supervisors, which is based on Shanghai's wage management regulations[110]. - The company underwent several personnel changes, including the election of new directors and the appointment of a new deputy general manager[111]. - The total pre-tax compensation for the board members and senior management during the reporting period amounted to 749.76 million CNY[102]. Risk Management - The company faces various risks including policy, market, operational, and financial risks as detailed in the report[10]. - The company has established a comprehensive risk management system to enhance financial data analysis and fund usage supervision[132]. - The company has established a risk prevention-oriented management approach to enhance the effectiveness of internal control systems[132]. Community Engagement and Sustainability - The company invested 1,484,000 RMB in environmental protection during the reporting period[134]. - The company made a total donation of 66,600 RMB for public welfare projects during the reporting period[136]. - The company has implemented carbon reduction measures, including the use of new energy vehicles[135].