Financial Performance - Revenue for 2020 reached HK$ 18,803.01 million, an increase of 26.03% from HK$ 14,919.47 million in 2019[12] - Gross profit for the year was HK$ 8,814.58 million, representing a significant increase of 71.99% compared to HK$ 5,125.12 million in 2019[12] - Profit before taxation increased by 21.68% to HK$ 8,133.60 million from HK$ 6,684.54 million in 2019[12] - Profit attributable to equity shareholders decreased by 8.4% to HK$3,722.9 million; however, excluding the net effect of changes in fair value of investment properties, it increased by 48.7% to HK$4,553.0 million[30] - Basic earnings per share were HK42.03 cents, a decrease of 11.6% from the previous year[30] - The Group achieved a turnover of HK$18,803.0 million in 2020, representing a 26.0% increase from the previous year[30] - Gross profit for the year was HK$8,814.6 million, reflecting a significant increase of 72.0% compared to 2019[30] - The Group's total assets increased to HK$152,275.8 million, up from HK$125,272.9 million in 2019, representing a growth of 21.6%[20] - Total liabilities rose to HK$96,869.98 million, compared to HK$76,900.65 million in the previous year, indicating a 26.0% increase[20] - The Group's net assets increased to HK$55,405.85 million, up from HK$48,372.30 million, reflecting a growth of 14.3%[20] Cash and Debt Management - Cash and deposits, including restricted cash, increased by 51.22% to HK$ 18,710.44 million from HK$ 12,372.76 million in 2019[13] - The net loan to net assets ratio, excluding non-controlling interests, decreased to 23.94% from 26.81% in 2019[15] - The Group's net gearing ratio was maintained at a low level of 41.7%, with all indicators of the "Three Red Lines" falling into the green level[51] - The average comprehensive interest rate for the Group's bank and other borrowings was 3.7% as of December 31, 2020, with a net debt ratio of 41.7%[56] - The Group's total bank and other borrowings amounted to HK$30,828.4 million, an increase of 27.5% from HK$24,297.9 million as of 31 December 2019[148] - The Group's cash balance, including restricted cash, was HK$18,710.4 million as of 31 December 2020, up from HK$12,372.8 million in the previous year, representing a 51.5% increase[150] - The net gearing ratio with liabilities including bank loans and other borrowings only was 23.9%, a decrease from 26.8% at the end of the previous year[154] Land and Development Strategy - The company has a planned total gross floor area land reserve of approximately 4.36 million square meters across various cities in China[5] - The company aims to optimize its land reserve structure and focus on the Greater Bay Area and key first-tier and second-tier cities[5] - The Group plans to double its land reserves, sales revenue, and profits over the next five years, aiming for land reserves exceeding 10 million square meters[66] - The Group aims to increase land reserves to over 10 million square meters in the next five years, focusing on Shenzhen and key first-tier and second-tier cities[67] - The Group's annual saleable value for 2021 is approximately RMB 32 billion, with a contracted sales target of RMB 18 billion, representing a 24% increase over 2020[69] Real Estate Sales and Revenue - Real estate sales revenue reached HK$14.08 billion, marking a 33.7% increase year-on-year, with a gross profit margin of 52.8%[33] - The Group achieved contracted sales of approximately RMB14.5 billion, with projects in the Greater Bay Area accounting for about 74%[34] - The total area of contracted sales in 2020 was 431,612 square meters, with a total sales amount of RMB12,511.9 million[93] - The group achieved contracted sales area of approximately 567,000 square meters and contracted sales income of approximately RMB14.46 billion, with an average price per square meter of RMB25,521[90] - Major contributions to contracted sales came from the Parkview Bay residential project in Shenzhen, which realized approximately RMB3.53 billion in sales, and the Shum Yip Terra Licheng office project, which achieved RMB2.15 billion in sales[90] Rental and Property Management - Rental income for the year amounted to HK$1.22 billion, reflecting a 14.2% increase year-on-year, and a 2.0% increase after adjusting for rent waivers[40] - The Group's property investment income for the year was approximately HK$1,223.2 million, representing a year-on-year increase of 14.2%[122] - The actual rental income, after accounting for rent exemptions, was approximately HK$1,092.5 million, reflecting a 2.0% increase compared to the previous year[122] - The Group's hotel operations generated approximately HK$116.5 million in operating income, a decrease of 41.2% year-on-year due to the pandemic[129] - The Group's rental income was impacted by COVID-19, leading to rent waivers for over 7,000 enterprises and individual businesses, benefiting from a two-month rent waiver initially, extended for another month for certain tenants[162] Employee and Management Information - The total remuneration for employees (excluding Directors) for the year ended December 31, 2020, was approximately HK$2,075.2 million, up from HK$1,919.7 million in 2019[167] - The Group employed 20,452 employees as of December 31, 2020, an increase from 19,444 in 2019[167] - Dr. Lu Hua has been the Executive Director and Chairman since January 31, 2013, with over 20 years of experience in real estate development and corporate governance[173] - Mr. Huang Wei has served as Executive Director and President since July 21, 2015, bringing extensive experience in urban development and corporate management[176] - Ms. Cai Xun joined as Executive Director on August 27, 2020, with a strong background in human resources management[180] Market Outlook and Future Plans - The Group anticipates a compound annual growth rate of 20% in income from development, sales, and rentals over the next five years[66] - The Group plans to accelerate the development of urban operation services, aiming for a revenue scale 3-5 times the current level in the next five years[67] - The real estate market in Shenzhen and the Greater Bay Area is expected to achieve sound and stable development in the long term due to strict control policies[60] - The management anticipates that the impact of COVID-19 will gradually reduce in 2021, allowing for a return to normal business operations[160]
深圳控股(00604) - 2020 - 年度财报