BCDC(SH:600376)2014-03-27 16:00Financial Performance - In 2013, the company's operating revenue was CNY 13,501,339,699.10, representing a 6.51% increase from CNY 12,675,546,401.82 in 2012[20] - The net profit attributable to shareholders decreased by 20.30% to CNY 1,288,838,664.97 from CNY 1,617,055,322.00 in the previous year[20] - The net cash flow from operating activities was negative at CNY -8,273,847,645.59, a significant decline compared to CNY 2,143,060,042.48 in 2012, marking a 486.08% decrease[20] - The total assets of the company increased by 29.99% to CNY 92,117,097,736.89 at the end of 2013, up from CNY 70,864,100,912.44 in 2012[20] - The net assets attributable to shareholders rose by 6.87% to CNY 13,955,435,113.15 from CNY 13,058,882,413.36 in the previous year[20] - Basic earnings per share decreased by 20.30% to CNY 0.5749 from CNY 0.7213 in 2012[20] - The weighted average return on equity fell to 9.56%, down 3.31 percentage points from 12.87% in 2012[20] - The gross profit margin decreased by 4.94 percentage points to 36.63% compared to the previous year[66] - The company’s financial expenses decreased by 48.83% year-on-year, amounting to approximately CNY 5.78 billion[51] Real Estate Development - The company completed the transfer of various real estate project areas totaling 1.0661 million square meters, a year-on-year increase of 2.19%[26] - The total area of all construction and renovation projects reached 8.458 million square meters, up 6.3% year-on-year[27] - The new construction area decreased by 18.4% to 1.744 million square meters, with residential new construction down 35.6% to 1.105 million square meters[27] - The completion area increased by 58.7% to 1.9 million square meters, with residential completions rising by 76.2% to 1.376 million square meters[27] - The company emphasized a strategy focused on inventory reduction for existing projects in 2013[27] - The company plans to continue enhancing product development and adjusting pricing strategies to adapt to market conditions[26] - The company launched a total of 1.366 million square meters of new projects during the year, with significant increases in sales area from projects outside Beijing due to multiple new projects entering the sales phase[34] Sales and Market Performance - The total new sales area for the year was 1.409 million square meters, with a contract signing amount of 18.58 billion yuan, and an average sales price of 13,200 yuan per square meter[34] - The company reported a total of 671 million yuan in ongoing projects outside Beijing, with a total area of 1.0982 million square meters[32] - The company has ongoing projects in Beijing with a total area of 3.14 million square meters, and planned projects totaling 970,700 square meters[31] - The company’s major development projects totaled 1.06084 billion yuan in sales, with a total area of 1.84349 million square meters[33] - The company’s sales from previous completed projects outside Beijing amounted to 1.01 million yuan, while garage sales contributed 2.45 million yuan[33] - The company reported a significant increase in affordable housing sales, with 124,000 square meters sold and a contract amount of 900 million yuan, marking a substantial growth compared to the previous year[40] Financial Strategy and Investments - The company plans to issue bonds up to CNY 5.8 billion and non-publicly issue A-shares up to CNY 4 billion to optimize debt structure and fund project construction[61] - The company reported a 188.52% increase in cash flow from financing activities, totaling CNY 7.07 billion, due to increased borrowings from financial institutions[60] - The company’s cash and cash equivalents decreased by 10.29% to CNY 13.10 billion compared to the previous period[65] - The company has a total of 746.83 million yuan in planned projects outside Beijing, with a total area of 1.30722 million square meters[33] - The company’s investment in fixed-income products through private placements totaled ¥100,000 million, yielding a return of ¥793.97 million[74] Corporate Governance and Shareholder Relations - The company distributed cash dividends totaling CNY 358.72 million, representing 35.12% of the net profit attributable to shareholders for 2012[100] - The company aims to maintain a cash dividend policy of at least 10% of the distributable profit each year, barring special circumstances[99] - The company’s profit distribution plan for the last three years showed a decrease in cash dividends from 3.8 RMB per 10 shares in 2012 to 1.8 RMB in 2013[102] - The company’s total share capital increased from 1,494,675,000 shares to 2,242,012,500 shares due to a capital reserve conversion plan, with each share increasing by 0.5 shares[128] - The company has a significant portion of shares pledged or frozen, with 57,750,000 shares pledged by Meidu Holdings Co., Ltd.[130] Future Outlook and Strategic Initiatives - The company plans to start approximately 2.88 million square meters of new construction in 2014, with a total area of about 9.44 million square meters under construction, and aims to complete around 2 million square meters[88] - The expected sales area for 2014 is 1.68 million square meters, with a projected sales contract amount of 24.7 billion yuan, representing a year-on-year increase of approximately 2% and 34% respectively[91] - The company aims to achieve a net profit attributable to shareholders of no less than a 25% increase compared to 2013[92] - The company plans to enhance the development and operation of commercial real estate, coordinating the development of affordable housing, commercial housing, and non-residential properties[87] - The company is actively pursuing strategic partnerships, including a cooperation framework agreement with Meidu Holdings Co., Ltd.[167]