Financial Performance - Total revenue for the year ended December 31, 2020, was RMB 146,118,718, an increase from RMB 86,851,178 in 2019, representing a growth of 68.5%[11] - Profit for the year attributable to equity holders of the Company was RMB 10,178,247, up from RMB 7,812,268 in 2019, reflecting a year-on-year increase of 30.5%[11] - Earnings per share (basic) increased to RMB 1.65 in 2020 from RMB 1.32 in 2019, marking a growth of 25.0%[8] - Profit before income tax for 2020 was RMB 26,385,564, up from RMB 21,625,171 in 2019, representing a growth of 22.6%[11] - The Company reported a net profit for the year of RMB 16,118,382, compared to RMB 12,606,189 in 2019, an increase of 27.5%[11] - Non-controlling interests in profit for the year were RMB 5,940,135, up from RMB 4,793,921 in 2019, reflecting a growth of 23.9%[11] - The Company’s capital and reserves attributable to equity holders increased to RMB 81,469,972 from RMB 57,815,801 in 2019, a rise of 40.8%[10] - Total equity increased to 81,469,972 from 57,815,801, representing a growth of approximately 41%[12] - The total contracted sales area for the group was approximately 23,488,547 sq.m., generating contracted sales amounting to RMB 250,963 million[73] - For the year ended December 31, 2020, the Group recorded property sales revenue of approximately RMB 137,577.9 million, an increase of 71.3% compared to 2019[92] Assets and Liabilities - Total assets as of December 31, 2020, amounted to RMB 544,488,072, compared to RMB 468,242,359 in 2019, indicating a growth of 16.3%[9] - Total liabilities increased to RMB 463,018,100 in 2020 from RMB 410,426,558 in 2019, which is an increase of 12.8%[9] - The net debt-to-equity ratio is calculated as the difference between total borrowings and cash, cash equivalents, and restricted cash divided by total equity[18] - As of December 31, 2020, the group's land bank was approximately 142,876,372 sq.m., with an average acquisition cost of RMB 2,615 per sq.m.[74] Project Development - The company has multiple ongoing projects, including the Ankang Hanbin Project with a gross floor area (GFA) under development of 193,134 sq.m.[19] - The Anyang Wenfeng Project is also under development with a GFA of 260,592 sq.m.[19] - The Baoshan Longyang Project has a GFA under development of 482,919 sq.m. and is currently in progress[20] - The Beihai Yinhai Project is under development with a GFA of 524,844 sq.m.[20] - The company has proposed projects such as the 117 Mu Land Parcel in Cangzhou, with a planned area of 169,428 sq.m.[20] - The completed Bengbu Bengshan Project has a GFA available for sale of 144,119 sq.m.[19] - The company has multiple residential projects under construction, totaling over 1 million sq.m. in GFA across various locations in Changzhou[21][22] - The company is actively expanding its market presence with multiple projects in Chengdu and Changzhou, focusing on residential developments[23][24] - The company has ongoing residential developments in Changzhou Green City Wanhecheng with 78,335 sq.m. under development and 659,384 sq.m. planned[23] - The company is focusing on both residential and complex property types, with a balanced approach to development and planning[35][36] Market Expansion Strategy - The Company plans to continue expanding its market presence and investing in new technologies to drive future growth[6] - The company is actively pursuing new development opportunities to strengthen its portfolio and drive growth[35][36] - The ongoing projects reflect the company's strategy to enhance its market presence in key cities across China[35][36] - The company is focusing on expanding its residential and commercial projects across various cities, enhancing its market presence and portfolio diversification[85] - The Group's strategic focus includes expanding its presence in 112 cities, enhancing its market share in the property development sector[67] Revenue Generation - The total GFA of properties delivered during the year was approximately 15,386,229 sq.m., representing an increase of 123.7% compared to 2019[93] - The average selling price of properties delivered and recognized as sales was RMB 8,942 per sq.m. in 2020[93] - The top revenue-generating projects include Zhangjiagang Mansion with RMB 1,239.39 million and an average selling price of RMB 11,464 per sq.m.[97] - The average selling price across various projects shows a range, with Xi'an Fengxi Project achieving RMB 12,333 per sq.m.[97] - The company plans to enhance its market presence through strategic acquisitions and partnerships, as indicated by the diverse project locations.[99] Land Acquisition and Premiums - The average acquisition cost of land reflects the group's investment strategy, aiming to maintain a balance between cost and potential market value[74] - The total land premium for the commercial projects in Chongqing was RMB 880 million for the Beibei Wuyue Plaza, with a site area of 76,430 sq.m. and a total GFA of 359,336 sq.m., reflecting a 67.21% interest[86] - The company has a total land premium of RMB 283 million for the Nanchang Seazen Yuejun Shidai residential project, covering an area of 27,441 sq.m. with a total GFA of 64,851 sq.m. and a 66.54% interest[87] - The total land premium for the Wenzhou Seazen • Oujiang Bay residential project is RMB 1,660 million, covering 132,688 sq.m. with a total GFA of 438,580 sq.m. and a 42.77% interest[88] Future Outlook - Future outlook indicates continued growth in contracted sales and expansion into new markets, supported by ongoing development projects[67] - Overall, the financial performance indicates a robust growth trajectory, with a focus on high-value projects and strategic market positioning.[99]
新城发展(01030) - 2020 - 年度财报