LJZ(SH:600663)2014-03-04 16:00Financial Performance - In 2013, the company achieved a net profit of over 1.4 billion RMB, a 39% increase compared to 2012, marking a new high since its establishment[4]. - The company generated sales revenue of 1.73 billion yuan from various residential properties, with a total contracted sales area exceeding 110,000 square meters and a sell-through rate of over 71%[15]. - The net profit for 2013 was 1.406 billion RMB, exceeding the annual target by 134%[39]. - The company's operating income increased by 29.14% year-on-year, reaching 4.51 billion RMB in 2013 compared to 3.49 billion RMB in 2012[33]. - The net profit attributable to shareholders of the listed company rose by 39.07% year-on-year, amounting to 1.41 billion RMB in 2013[33]. - The total revenue for the company in 2013 was approximately CNY 143.76 million, with a net loss of CNY 213.10 million[67]. - The company's revenue for the year 2013 was reported at RMB 6.30 billion, reflecting a year-over-year increase of 12%[142]. - The total comprehensive income for 2013 was approximately ¥1.35 billion, compared to ¥1.12 billion in 2012, representing a growth of about 21%[143]. - The company's investment income rose to ¥515.92 million in 2013 from ¥254.57 million in 2012, showing a significant increase of approximately 103%[143]. Revenue Sources - The total rental income exceeded 3.2 billion RMB, reflecting steady growth in the main product revenue[4]. - The total revenue from hotel properties reached 116 million RMB, with the East Hotel achieving a GOP rate of 28% and an occupancy rate of 60%[11]. - The total rental income from long-term operating properties reached RMB 1.43 billion, with office properties contributing over RMB 1.05 billion, a year-on-year increase of approximately 20%[40]. - The rental income from commercial properties was RMB 220 million, reflecting a year-on-year increase of about 19%[41]. - The company achieved a property management income of RMB 506 million, representing a year-on-year increase of approximately 28%[45]. Occupancy and Rental Rates - The average occupancy rate for grade A office buildings was approximately 95.9%, with an average rental rate of 6.8 RMB/sqm/day[6]. - The high-quality R&D buildings achieved an average occupancy rate of 99%, with an average rental rate of 4.64 RMB/sqm/day[6]. - The company’s retail properties had a total building area of over 90,000 sqm, with key projects achieving a 100% occupancy rate[9]. - The average rental rate for the main retail properties was 7.23 RMB/sqm/day for Lujiazui 96 Plaza and 8.57 RMB/sqm/day for Lujiazui 1885 Cultural Center[9]. - The East and Harmony Apartment has a rental rate of 23,990 yuan per unit per month, with an occupancy rate of 95% as of the end of 2013[15]. Investment and Development Plans - The company plans to continue investing in high-quality commercial real estate projects, leveraging opportunities from the development of the free trade zone and state-owned enterprise reforms in Shanghai[4]. - The company has ongoing construction projects totaling approximately 1.18 million sqm, with significant developments expected to complete by 2017[8]. - The company plans to achieve rental income of no less than RMB 2.3 billion in 2014, with property management income targeted at RMB 750 million[49]. - The company plans to expand its operational property area from over 1 million square meters to more than 2 million square meters in the coming years[63]. - The company is exploring investment opportunities in the financial services industry, having already increased its stake in Shenwan Hongyuan and Tonglian Payment[80]. Financial Health and Assets - The total assets of the company increased by 25.19% year-on-year, reaching 38.54 billion RMB at the end of 2013[33]. - The total liabilities reached RMB 23.35 billion in 2013, an increase from RMB 17.59 billion in 2012, which is a rise of around 33.5%[141]. - Shareholders' equity increased to RMB 15.19 billion in 2013, compared to RMB 13.19 billion in 2012, indicating a growth of approximately 15.1%[141]. - The company's total assets increased to CNY 31,011,940,291.43 in 2013, up from CNY 25,768,166,715.07 in 2012, marking a growth of approximately 20%[157][160]. - The total equity of the company decreased to CNY 9,963,043,901.26 in 2013 from CNY 10,301,103,252.93 in 2012, a decline of approximately 3%[160]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 422,096,584 yuan, accounting for 30.02% of the net profit attributable to shareholders for 2013[20]. - The company has consistently prioritized cash dividends, distributing over RMB 2.4 billion since 2002, with a minimum of 10% of distributable profits allocated to cash dividends each year[83]. - The total number of shareholders at the end of the reporting period was 133,898, an increase from 131,772 prior to the report[100]. - The largest shareholder, Shanghai Lujiazui (Group) Co., Ltd., holds 57.64% of the shares, totaling 1,076,556,437 shares, with 292,825,362 shares pledged[100]. Operational Challenges and Market Conditions - The company anticipates a competitive market for office properties, with approximately 220,000 square meters of Grade A office space expected to enter the market by the end of 2015[74]. - The company anticipates intensified competition for commercial resources, which will pose challenges for leasing and operational efforts[77]. - The total supply of residential properties in Tianjin reached 13.63 million square meters in 2013, indicating a competitive market environment[78]. - In 2013, Shanghai's real estate market saw a transaction volume of nearly 13 million square meters, marking a four-year high, with average transaction prices exceeding RMB 24,000 per square meter, a year-on-year increase[77]. Corporate Governance and Compliance - The company has established a comprehensive internal control system to ensure compliance, asset security, and accurate financial reporting[125]. - The audit committee recommended hiring an external consulting team to study the fair value measurement of investment properties, which was positively implemented by management[123]. - The company’s independent auditor provided a standard unqualified opinion on the internal control audit report for the year[125]. - The company did not experience any significant errors in annual report disclosures during the reporting period[126].