LANDER SPORTS(000558)2023-04-28 16:00Financial Performance - Revenue for Q4 2022 was RMB 605.95 million, significantly higher than the previous quarters (Q1: RMB 236.05 million, Q2: RMB 179.66 million, Q3: RMB 170.55 million)[12] - Net profit attributable to shareholders was negative across all quarters, with the largest loss in Q4 at RMB -180.64 million[12] - Operating cash flow was positive in all quarters, peaking in Q4 at RMB 524.70 million[12] - Revenue for 2022 decreased by 15.26% to RMB 119,221,973.33 compared to the previous year[23] - Net profit attributable to shareholders improved by 61.61% to RMB -36,165,043.49 in 2022[23] - Operating cash flow surged by 1,392.15% to RMB 100,722,412.04 in 2022[25] - Total assets decreased by 4.29% to RMB 1,833,102,853.97 at the end of 2022[25] - Total revenue in 2022 decreased by 15.26% year-on-year to RMB 119.22 million, with real estate sales and leasing accounting for 91.20% of total revenue[32] - Sports operations revenue dropped significantly by 79.90% year-on-year to RMB 10.50 million, contributing only 8.80% to total revenue[32] - Real estate sales and leasing revenue increased by 22.90% year-on-year to RMB 108.72 million, with a gross margin of 31.82%[33] - Revenue from the Zhejiang region accounted for 96.11% of total revenue, but decreased by 17.30% year-on-year to RMB 114.58 million[32] - Sports operations revenue decreased by 83.24% to RMB 10.62 million, accounting for 12.53% of total operating costs[36] - Real estate sales and leasing revenue increased by 13.17% to RMB 74.13 million, accounting for 87.47% of total operating costs[36] - Operating cash flow increased by 1,392.15% to RMB 100.72 million, driven by tax refunds and reduced labor costs[42][43] - Investment cash flow turned positive at RMB 26.81 million, a 150.39% increase, due to the transfer of Hong Kong subsidiary equity[42][43] - Cash and cash equivalents increased by 114.27% to RMB 33.12 million[43] - Investment property increased by 8.14% to RMB 1.04 billion, mainly due to the inclusion of Lishui Life Center in investment property accounting[45] - Total restricted assets amounted to RMB 508.04 million, including RMB 399.78 million in investment property and RMB 93.94 million in long-term equity investments[46] - The company's 2020 net profit attributable to shareholders was -71.72 million yuan[143] Real Estate Business - The company's real estate business focuses on the sale and leasing of existing properties in key regions such as Zhejiang, Jiangsu, and Shanghai[24] - The company aims to transition to a new development model in the real estate sector, supported by relaxed policies and improved consumer demand[20] - The company's average rental rate for key projects ranged from 15.61% to 100.00%, with the highest rate achieved at the "Laiyin Star" project in Nanjing[28][29] - The company's total land reserves include a remaining developable area of 614,176 square meters, with a focus on commercial properties[28] - The company plans to continue focusing on inventory reduction and capital recovery in 2023, with no new land acquisitions or construction projects[29] - The company's direct sales model accounted for 100% of total revenue, with a gross margin of 28.91%[33] - The company's subsidiary, Hangzhou Laijun Investment Management Co., Ltd., leased out 9,057.13 square meters of Laiyunda Building, achieving a rental income of 11.5452 million yuan and a gross profit of 6.9695 million yuan, with a rental rate of 58%[167] - Another subsidiary, Hangzhou Laiyunda Fengtan Real Estate Co., Ltd., leased out 8,358.65 square meters of Matrix International, achieving a rental income of 10.7234 million yuan and a gross profit of 2.8172 million yuan, with a rental rate of 56%[167] Sports Business - The company's sports business includes the operation of urban sports service complexes, with projects like the Lishui Sports Center and Nanjing Rhine Star Complex[26] - The company is actively involved in sports event operations, including the 2022 Chengdu Marathon and the Xiling Snow Mountain 2022 Top Snow TOP Show Warrior Challenge[27] - The sports industry is expected to enter a new phase of development, driven by favorable policies and the legacy of the Beijing Winter Olympics[20] - The company's sports and cultural tourism integration strategy aims to leverage government platform resources to enhance its brand and industry influence[30] - The company's subsidiary, Lishui Lainda Sports Venue Management Co., Ltd., signed a 9-year lease agreement with Lishui Xingqiu Sports Development Co., Ltd., with a total lease amount of approximately 76.68 million yuan[173] Corporate Governance - The company's board of directors consists of 9 members, including 3 independent directors, and held 8 meetings during the reporting period[71] - The company's board of directors has 4 specialized committees: Strategy Committee, Audit Committee, Nomination Committee, and Compensation and Evaluation Committee[71] - The company's board of directors strictly follows relevant regulations and ensures scientific decision-making[71] - The company's board of directors has established an independent director work system to ensure independent and objective performance of duties[71] - The company's board of directors actively participates in relevant training to familiarize themselves with laws and regulations[71] - The company's board of directors fully listens to management reports to ensure scientific decision-making[71] - The company's board of directors effectively safeguards the legitimate rights and interests of the company and shareholders[71] - The company's board of directors ensures the implementation and continuous improvement of various systems[71] - The company's board of directors provides strong support for the company's operational efficiency and asset security[71] - The company's board of directors ensures effective control of operational risks[71] - The company completed the election of the 11th Board of Directors and Supervisory Committee, with Tan Juwei elected as Chairman of the Board[88] - The company held its 2022 third extraordinary general meeting on December 19, 2022, to elect the 11th Board of Directors and Supervisory Committee[85] - The company's 11th Board of Directors consists of 6 non-independent directors and 3 independent directors, including Tan Juwei, Huang Guangyao, Wu Xiaolong, Yuan Bo, Li Qi, and Ding Shiwei as non-independent directors, and Tan Hongtao, Wang Lei, and Xu Kaijuan as independent directors[88] - The 11th Supervisory Committee includes 2 non-employee representatives (Rui Guangsheng and Xu Shao) and 1 employee representative (Li Qiushi)[88] - The company appointed Wu Xiaolong as General Manager, Liu Kewen as CFO, Zou Wei as Board Secretary, and Song Linglong as Securities Affairs Representative[88] - The company's Board of Directors established four specialized committees: Strategy Committee, Compensation and Evaluation Committee, Nomination Committee, and Audit Committee[88] - The company's total shares held by directors and supervisors remained unchanged at 18,900 shares during the reporting period[85] - The company's 11th Board of Directors and Supervisory Committee were officially formed on December 19, 2022, following the completion of the election process[86] - Wang Lei and Xu Kaijuan were elected as independent directors of the 11th board of directors on December 19, 2022[89] - Li Qiushi was elected as the employee representative supervisor of the 11th board of supervisors on December 19, 2022[89] - Xu Shao, a graduate of Zhejiang University with a major in management, has been serving as the general manager of Greentown Housing Service System Co., Ltd. since 2020 and is currently a supervisor of the 11th board of supervisors[97] - Tan Hongwei, an independent director, holds a Ph.D. in management and is a professor and doctoral supervisor at the School of Accounting, Southwestern University of Finance and Economics[93] - Xu Kaijuan, an independent director, holds a Ph.D. in sports management from Shanghai University of Sport and is currently an associate professor at the Collaborative Innovation Center for Sports and Health Industry[95] - The total annual remuneration for directors, supervisors, and senior management during the reporting period was 27.496 million yuan[105] - Each independent director received an annual allowance of 80,000 yuan[106] - The company's current board secretary, Zou Wei, received a pre-tax remuneration of 318,600 yuan[107] - The company's current financial director, Liu Kewen, received a pre-tax remuneration of 357,600 yuan[107] - The company's current general manager, Wu Xiaolong, received a pre-tax remuneration of 535,200 yuan[107] - The company's current supervisor, Li Qiushi, received a pre-tax remuneration of 314,700 yuan[107] - The company held a total of 8 board meetings during the reporting period, with all directors attending either in person or via teleconference, and no instances of consecutive absences[110] - No directors raised objections or proposed alternative suggestions regarding company matters during the reporting period[111][112] - The company did not implement any equity incentive plans, employee stock ownership plans, or other employee incentive measures during the reporting period[114] - The board's audit committee reviewed and approved the 2021 financial statements, internal control self-assessment report, and internal audit report during the April 28, 2022 meeting[115] - The board's compensation committee approved the 2021 performance evaluation and 2022 performance assessment plans for senior management during meetings on August 29, 2022 and December 19, 2022 respectively[115] - The nomination committee proposed candidates for the 11th board of directors, including non-independent directors, independent directors, and senior management positions during the December 1, 2022 and December 19, 2022 meetings[115] - The supervisory committee did not identify any risks or raise objections regarding the company's operations during the reporting period[116] - The company strictly adheres to laws and regulations such as the "Company Law" and "Securities Law" to continuously improve corporate governance and protect shareholder interests[132] - The company has enhanced its information disclosure practices, ensuring timely and accurate reporting of financial and operational information through designated media platforms[132] - The company actively manages investor relations by holding performance briefings and responding to investor inquiries through interactive platforms[133] - The company has fulfilled commitments to avoid同业竞争 and protect the interests of minority shareholders[141] - The company ensures the independence of personnel, assets, finance, institutions, and business[143] - The company's 2022 consolidated financial statements include 24 subsidiaries, a decrease of 5 from the previous year[149] - The company's subsidiaries, including Zhejiang Lainde Sports Venue Operation Management Co., Ltd., were deregistered[150] - The company's subsidiaries, including Hong Kong Lainde Investment Co., Ltd., were transferred[150] - The company's 2022 annual report indicates no non-operational fund occupation by controlling shareholders or related parties[146] - The company reports no illegal external guarantees in the reporting period[147] - The company has no changes in accounting policies, estimates, or significant accounting errors[148] - The company's domestic audit firm, Zhong Shen Zhong Huan Certified Public Accountants, was paid 1.18 million yuan for audit services[151] - The company completed the election of the 11th Board of Directors and Supervisory Committee in December 2022[173] - The company's total approved guarantee quota at the end of the reporting period was 47,500 million yuan[171] - The company did not engage in any entrusted wealth management or entrusted loans during the reporting period[172][174] - The company did not have any other major contracts during the reporting period[175] - The company's major shareholder, Chengdu Sports Investment Group, has a performance compensation commitment to ensure that the company's existing business does not incur losses in 2019 and 2020[177] - The company incurred an actual loss in 2020, leading to an arbitration case filed by Chengdu Sports Investment Group, with the arbitration ruling requiring Lander Group to pay the 2020 performance compensation[178][179] - The company purchased liability insurance for directors, supervisors, and senior management, with a premium of RMB 280,000 and a cumulative compensation limit of RMB 20 million[180] - The company's subsidiary, Zhejiang Lander Investment Management, transferred 100% equity of Hong Kong Lander Investment for RMB 26 million, and received an additional RMB 5.5653 million for debt repayment[182][183] - The company's subsidiary, Locke Energy, entered bankruptcy liquidation in 2020, with the bankruptcy process ongoing and creditor claims still under review[184] - The company's total shares remained unchanged at 1,289,223,949, with 99.95% being unrestricted shares[188] - The total number of ordinary shareholders at the end of the reporting period was 71,782, compared to 69,290 at the end of the previous month[190] - Chengdu Sports Industry Investment Group Co., Ltd., a state-owned legal entity, holds 29.90% of the shares, totaling 385,477,961 shares[190] - Laiyin Holding Group Co., Ltd., a domestic non-state-owned legal entity, holds 8.57% of the shares, totaling 110,480,000 shares, with a decrease of 23,968,100 shares during the reporting period[190] - Gao Jingna, a domestic natural person, holds 4.16% of the shares, totaling 53,600,000 shares, with a decrease of 25,780,000 shares during the reporting period[190] - Ke Min, a domestic natural person, holds 0.51% of the shares, totaling 6,512,950 shares, with an increase of 5,365,150 shares during the reporting period[190] - Zhao Rui, a domestic natural person, holds 0.42% of the shares, totaling 5,400,000 shares, with a decrease of 1,798,300 shares during the reporting period[190] - Liu Yu, a domestic natural person, holds 0.39% of the shares, totaling 5,062,072 shares, with an increase of 4,577,872 shares during the reporting period[190] - The Industrial and Commercial Bank of China Limited - Southern China CSI All Shares Real Estate Trading Open-end Index Securities Investment Fund holds 0.32% of the shares, totaling 4,073,400 shares, with an increase of 1,790,700 shares during the reporting period[190] - Zhang Ye, a domestic natural person, holds 0.27% of the shares, totaling 3,513,300 shares[191] - Yao Jinfei, a domestic natural person, holds 0.26% of the shares, totaling 3,340,000 shares[191] - The actual controller of the company is the Chengdu State-owned Assets Supervision and Administration Commission, established on November 17, 2015, with the organization code 11510100782651923Y[194] - The actual controller oversees several listed companies, including Chengdu Gas Group Co., Ltd. (603053), Chengdu B-ray Media Co., Ltd. (600880), and Chengdu Bank Co., Ltd. (601838)[194] - The company's controlling shareholder, Lander Holdings Group Co., Ltd., was established on April 20, 1995, with a registered capital of 100 million RMB[196] - Lander Holdings Group Co., Ltd. is engaged in various businesses, including venture investment, sales of textile raw materials, and property management[196] - The company's actual controller did not change during the reporting period[194] Legal and Regulatory Compliance - The company is involved in a significant arbitration case with a total claim amount of RMB 5,958,330, including investment principal and interest of RMB 3,764,380 and valuation adjustment compensation of RMB 2,193,950[153] - The company faced a lawsuit regarding overdue delivery of housing, resulting in a final judgment requiring payment of RMB 2,272,300 in违约金[153] - The company is involved in a contract dispute with a claim amount of RMB 2,550,000, currently in the first trial stage[154] - The company's subsidiary, Lishui Sports Company, signed a lease agreement with Lishui Planet Company for a total lease amount of RMB 7,668,060, accounting for 6.82% of the total transaction amount[156] - The company did not engage in any asset or equity acquisition or sale-related transactions during the reporting period[158] - The company did not engage in any joint external investment-related transactions during the reporting period[159] - The company did not have any related party debt or credit transactions during the reporting period[160] - The company did not have any financial transactions with related financial companies during the reporting period[161] - The company did not have any other significant related party transactions during the reporting period[164] - The company did not have any trusteeship or contracting situations during the reporting period[165][166] - The company did not provide any external guarantees during the reporting period[169] - The company's total actual guarantee balance at the end of the reporting period was 33,618 million yuan, accounting for 30.95% of the company's net assets[171] - The company and its subsidiaries are not listed as key pollutant discharge units by environmental protection authorities, and no environmental penalties were incurred during the reporting period[131] - The company prioritizes production safety, implementing strict safety measures across its operations[138] Human Resources and Employee Development - Total number of employees at the end of the reporting period is 47, with 23 from the parent company and 24 from major subsidiaries[117] - Sales personnel account for 27.66% of the total workforce (13 out of 47 employees)[117] - 57.45% of employees hold a bachelor's degree (27 out of 47 employees)[117] - The company has implemented a comprehensive training plan to improve employee performance and align with strategic development needs[119] - Employees are encouraged to pursue further education and professional qualifications through a reimbursement system[120] - The company focuses on employee development, providing regular training and creating a harmonious corporate culture to foster mutual growth[135] - The company has established a comprehensive human resources management system to protect employee rights and improve working conditions[135]