GREATTOWN(SH:600094)2016-04-21 16:00Financial Performance - In 2015, the company achieved a net profit attributable to shareholders of CNY 457,241,571.49, representing a year-on-year increase of 32.37% compared to CNY 345,433,272.88 in 2014[7]. - The company's total revenue for 2015 was CNY 5,167,571,883.76, a decrease of 3.95% from CNY 5,379,903,275.23 in 2014[21]. - The company achieved a basic earnings per share of RMB 0.2273, representing a year-on-year increase of 7.67%[23]. - The net profit attributable to shareholders for the fourth quarter was RMB 183.60 million, showing a significant increase compared to previous quarters[24]. - The company reported a net profit of RMB 14,031.55 from its subsidiary Mingcheng Real Estate (Fujian) during the reporting period[68]. - The company reported a net profit of 140,315,502.13 RMB from Mingcheng Real Estate (Fujian) Co., Ltd., with an operating income of 1,107,984,835.50 RMB, indicating a strong performance in the real estate sector[71]. - The company reported a significant increase in total comprehensive income for the year, amounting to CNY 798,752,173.85, a significant increase from CNY 257,495,553.43 in the previous year[194]. Cash Flow and Financing - The net cash flow from operating activities was negative at CNY -6,721,040,096.52, compared to CNY -2,636,828,114.10 in 2014, indicating a significant decline in cash flow[22]. - The company reported a net cash flow from financing activities of 8,817.15 million RMB, representing a significant increase of 199.21% compared to the previous year[45]. - The company reported a net cash outflow from operating activities of CNY 6,721,040,096.52, worsening from a net outflow of CNY 2,636,828,114.10 in the previous year[197]. - Cash inflows from financing activities reached CNY 20,179,977,515.19, a substantial increase from CNY 7,361,130,461.85 in the prior year, representing a growth of approximately 173.5%[197]. - The ending cash and cash equivalents balance was CNY 3,268,651,846.06, up from CNY 1,509,868,827.12 in the previous year[197]. Assets and Liabilities - The total assets of the company increased by 69.43% to CNY 36,476,383,114.47 at the end of 2015, up from CNY 21,528,554,501.37 in 2014[22]. - The asset-liability ratio increased to 73.03% in 2015 from 66.94% in 2014, indicating a 9.10% rise in financial leverage[169]. - Total liabilities reached CNY 26.64 billion, up from CNY 14.41 billion, indicating an increase of 84.9%[184]. - Owner's equity totaled CNY 9.84 billion, compared to CNY 7.12 billion, a growth of 38.3%[185]. - The company reported a significant increase in other receivables, rising to CNY 8.79 billion from CNY 2.74 billion, a growth of 220.5%[187]. Real Estate Development - The total revenue for the year was RMB 6.67 billion, with a year-on-year increase of 19.14% in real estate sales amounting to RMB 6.89 billion[37]. - The company signed a total area of 876,300 square meters, which is a 32.53% increase compared to the previous year[37]. - The company added 403,300 square meters of new real estate project land, focusing on key areas in first-tier cities like Shanghai and Fuzhou[37]. - The company added a total of 1.8685 million square meters of new construction area during the reporting period, with a significant project being the Lanzhou Mingcheng Plaza, which has a total construction area of 580,000 square meters and an investment of 5.4 billion RMB[38]. - The company is focusing on expanding its real estate business in first-tier cities like Shanghai, Beijing, and Shenzhen, while consolidating its brand advantage in Fujian[86]. Strategic Initiatives - The company plans to continue its dual-driven strategy of "industry + capital" to enhance its financial services and investment trade sectors[31]. - The company is actively seeking mergers and acquisitions in sectors such as health and big data to find new growth points[43]. - The company is committed to developing a "real estate + finance" business model, integrating financial services with real estate operations to drive growth[78]. - The company plans to explore asset securitization for its commercial real estate products when the timing is right, to enhance asset liquidity and improve capital efficiency[81]. - The company is establishing new structured entities to support real estate development projects, indicating a strategic move to enhance financing capabilities[72]. Governance and Management - The company held 1 annual general meeting and 5 extraordinary general meetings during the reporting period, ensuring compliance with regulations and protecting the rights of all shareholders, especially minority shareholders[146]. - The board of directors convened 32 meetings in total, with 8 held in person and 24 via communication methods, demonstrating active governance[151]. - The company maintained independence from its controlling shareholder in business, personnel, assets, and financial aspects during the reporting period[156]. - The company has established a performance evaluation mechanism for senior management, incorporating annual operational targets and personal assessments[157]. - The company has a diverse management team with members having backgrounds in auditing and real estate development[133].