WOLONG REAL ESTATE(SH:600173)2017-02-16 16:00Financial Performance - The net profit attributable to the parent company's shareholders for 2016 was CNY 80,743,591.02, representing a 33.67% increase compared to CNY 60,405,167.70 in 2015[2]. - The company's total revenue for 2016 was CNY 1,402,982,637.54, a decrease of 8.30% from CNY 1,530,017,318.89 in 2015[17]. - The basic earnings per share for 2016 was CNY 0.1113, up 33.61% from CNY 0.0833 in 2015[18]. - The company reported a net profit excluding non-recurring gains and losses of CNY 79,653,963.29, which is a 48.97% increase from CNY 53,468,455.57 in 2015[17]. - The company achieved a net profit of 80.74 million RMB in the reporting period, representing a year-on-year growth of 33.67%[149]. - The net profit for 2016 was CNY 81,007,891.81, an increase of 33.9% compared to CNY 60,521,175.67 in the previous year[169]. Cash Flow - The cash flow from operating activities increased by 83.70% to CNY 865,593,057.33 in 2016, compared to CNY 471,194,512.62 in 2015[17]. - The total cash flow from operating activities for the year was ¥105.99 million in Q1, increasing to ¥358.98 million in Q2, and reaching ¥402.80 million in Q3, but showing a negative cash flow of ¥2.18 million in Q4[20]. - The net cash flow from operating activities increased by 83.70% to 865.59 million RMB, driven by increased pre-sale funds[48]. - The net cash flow from financing activities decreased by 86.59% to -808,941,439.36 CNY, primarily due to loan repayments[49]. - The cash flow from financing activities shows a net outflow of CNY 808,941,439.36, worsening from a net outflow of CNY 433,536,979.67 in the previous period[177]. Assets and Liabilities - The total assets of the company at the end of 2016 were CNY 4,114,926,995.68, a decrease of 6.52% from CNY 4,401,769,544.07 at the end of 2015[17]. - Total liabilities increased to CNY 2.44 billion from CNY 2.77 billion[163]. - The total equity attributable to shareholders of the parent company was CNY 2,286,543,149.82, down from CNY 2,344,441,283.88 in the previous year[168]. - The company's total assets included a land reserve of 1.8455 million square meters, primarily located in economically developed second and third-tier cities[29]. - The company's total liabilities and equity amounted to CNY 4,114,926,995.68, down from CNY 4,401,769,544.07 in the previous year[168]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.5 per 10 shares, totaling CNY 36,257,373.00[2]. - In 2016, the company distributed a cash dividend of 0.5 yuan per share, totaling 36,257,373 shares, representing 44.90% of the net profit attributable to shareholders[71]. - The company has a comprehensive profit distribution policy that aligns with legal regulations and shareholder resolutions[70]. Real Estate Development - The company sold 254,500 square meters of real estate, generating sales revenue of ¥1.84 billion for the year[32]. - The company plans to continue focusing on residential development in second and third-tier cities, leveraging a favorable purchasing environment to drive sales growth[32]. - The company has ongoing projects with a total construction area of 1,410,339 square meters in Qingyuan, with significant investments planned[56]. Financial Management and Governance - The company established a complete internal control system, enhancing management efficiency and decision-making processes[33]. - The company has a transparent performance evaluation and incentive mechanism for senior management, ensuring compliance with legal regulations[133]. - The company has been included in the Shanghai Stock Exchange Governance Index, reflecting its commitment to corporate governance standards[129]. - The company appointed Lixin Accounting Firm as the auditor for the 2016 financial report with a remuneration of CNY 600,000[78]. Market Strategy and Risks - The company plans to continue optimizing its marketing network and sales strategies to capture new customers and improve sales performance[33]. - The company faces risks from macroeconomic policies, market fluctuations, and changes in housing policies that could affect sales and profitability[67]. - The company noted that the real estate market is experiencing significant differentiation, with first-tier cities facing tightening policies while third and fourth-tier cities are in a destocking phase[64]. Employee and Management Structure - The total number of employees in the parent company is 35, while the total number of employees in major subsidiaries is 260, resulting in a combined total of 295 employees[124]. - The management team includes experienced professionals with backgrounds in finance, engineering, and management, enhancing the company's strategic capabilities[115]. - The company emphasizes performance-based salary increases to enhance competitiveness in attracting talent[125]. Accounting and Compliance - The financial statements are prepared based on the assumption of continuous operation[196]. - The accounting period for the company is from January 1 to December 31 each year[198]. - The financial statements comply with the requirements of the enterprise accounting standards, reflecting the company's financial position and operating results accurately[197].