SHCF(SH:600621)2015-04-29 16:00Financial Performance - The company's operating revenue for 2014 was CNY 597,387,036.46, a decrease of 46.51% compared to CNY 1,116,827,780.65 in 2013[25] - The net profit attributable to shareholders of the listed company was CNY 154,744,885.52, down 47.73% from CNY 296,024,307.22 in the previous year[25] - The net profit attributable to shareholders, after deducting non-recurring gains and losses, was CNY 149,038,981.91, a decline of 50.01% from CNY 298,137,264.08 in 2013[25] - The net cash flow from operating activities was CNY -17,037,340.98, compared to CNY 445,352,358.60 in 2013, indicating a significant change[25] - The company achieved operating revenue of 597 million RMB and a net profit of 154 million RMB, with earnings per share of 0.2953 RMB[32] - The company reported a basic earnings per share decrease of 47.72% compared to the previous year[26] - The weighted average return on equity decreased by 10.03 percentage points to 9.03%[26] - The company reported a total revenue of 1,411,476,000 CNY for the period, with a financial asset value of 19,340,640,000 CNY[58] - The company reported a total profit for the period of CNY 55,561,740.45, a decrease from CNY 199,579,827.22 in the previous period[175] - The net profit for the period was CNY 39,106,161.70, down from CNY 155,536,210.30 year-over-year[175] Assets and Liabilities - Total assets increased to CNY 3,657,677,766.91 in 2014, an 8.32% increase from CNY 3,376,603,937.54 in 2013[25] - The company's total liabilities decreased by 47.06% in short-term borrowings, amounting to ¥27 million compared to ¥51 million last year[50] - The company's inventory increased by 84.05% to ¥134.91 million, up from ¥73.30 million, mainly due to the acquisition of properties[50] - The company’s total liabilities rose to CNY 1,814,812,450.17 from CNY 1,703,731,633.25, marking an increase of about 6.5%[165] - Current liabilities totaled CNY 1,330,330,159.17, up from CNY 1,043,741,633.25, indicating an increase of approximately 27.5%[165] - Non-current liabilities decreased to CNY 484,482,291.00 from CNY 659,990,000.00, a decline of about 26.6%[165] Investments and Acquisitions - The company established a joint investment in Zexin Real Estate with a registered capital of 60 million RMB, holding a 68% stake[34] - The company acquired 51% equity in Qingjian Lake Real Estate for 75.946 million RMB, with a net asset valuation of 157.143 million RMB[34] - The company repurchased a property for 52.7 million RMB, which has a building area of 3,815 square meters[35] - The company exited the manufacturing sector by transferring 41% equity in Shanghai Jinling Smart Meter Co., Ltd. for 27.552 million RMB[38] - The company’s investment activities resulted in a net cash outflow of -¥30.08 million, an improvement from -¥43.47 million last year, primarily due to a ¥75.95 million investment in acquiring 51% equity in Qingjian Lake Real Estate[44] Dividends and Shareholder Information - The company plans to distribute a cash dividend of CNY 0.9 per 10 shares, totaling CNY 47,167,411.59, which accounts for 30.48% of the net profit attributable to shareholders[3] - In 2014, the company distributed a cash dividend of 0.17 RMB per share, totaling 89.09 million RMB, while achieving a net profit of 155 million RMB for the year[81] - The company has maintained a total of 51,756 shareholders by the end of the reporting period, an increase from 38,641 shareholders five trading days prior to the annual report disclosure[113] - The top shareholder, Huaxin Real Estate Group Co., Ltd., holds 139,517,522 shares, representing 26.62% of the total shares[115] Operational Highlights - Real estate sales revenue reached 305 million RMB, with an increase of over 20% in selling price compared to similar products[33] - The average occupancy rate of the company's property at Huaxin Haixin Building reached 98.39%[33] - The construction project of Jinding City A District completed the main structure topping, covering an area of 76,000 square meters[36] - The company plans to complete the Jinling City A District Phase II project by the end of 2015 and initiate several other projects throughout the year[69] - The company plans to actively acquire land and project resources in 2015 to align with its future development goals[74] Corporate Governance and Compliance - The company has established a governance structure that complies with the Company Law and Securities Law, ensuring independent operation of the board of directors and supervisory board[143] - The company adheres to the principles of openness, fairness, and integrity in dealing with stakeholders, ensuring the protection of their legitimate rights and interests[145] - The audit committee supervised the financial reports and audit work, while the compensation and assessment committee discussed the performance evaluation of senior management for 2014[149] - The company has established a performance evaluation mechanism for senior management based on the completion of annual operational goals[151] Challenges and Future Outlook - The company anticipates challenges in inventory reduction in 2015 due to numerous competing projects in the vicinity[72] - The company emphasizes that forward-looking statements regarding its operational and strategic plans do not constitute a commitment to investors[4] - The company aims to explore smart parks and industrial communities to enhance the "Golden Leader City" brand in 2015[74] - The company has assessed its ability to continue as a going concern for the next 12 months, indicating no significant doubts about its operational viability[198]