LJZ(SH:600663)2017-03-21 16:00Financial Performance - The company achieved a net profit of approximately 2.649 billion, representing a growth of 39.41% compared to the previous year before restatement and 22.3% after restatement[5]. - The company's operating revenue for 2016 reached ¥12.81 billion, a 69.29% increase compared to ¥7.57 billion in 2015[43]. - Net profit attributable to shareholders was ¥2.65 billion, reflecting a 22.29% growth from ¥2.17 billion in the previous year[43]. - The net profit after deducting non-recurring gains and losses was ¥2.16 billion, up 19.21% from ¥1.81 billion in 2015[43]. - The company reported a net profit of RMB 492,149,183.29 for 2016, an increase from RMB 452,286,305.76 in the previous year[52]. - The company realized a net profit attributable to shareholders of CNY 2.649 billion in 2016[68]. - The company reported a significant increase in other receivables, totaling ¥1,020,066,462.19, which is a 437.31% increase year-on-year[104]. - The company reported a gain of RMB 25,379,797.34 from penalties received, contributing to other non-operating income[51]. Revenue Sources - In 2016, the company achieved total operating revenue of approximately CNY 12.807 billion, with real estate business revenue of CNY 10.987 billion and financial business revenue of CNY 1.820 billion[67]. - Rental income from long-term operating properties reached CNY 2.884 billion, with office properties generating CNY 2.387 billion, a year-on-year increase of 39.6%[71]. - The company sold residential properties generating revenue of nearly CNY 4.227 billion, with a total contracted sales area exceeding 100,000 square meters[75]. - The hotel industry reported revenue of ¥124,818,934.49, with a gross margin of 65.78%, marking a year-on-year increase of 3.25%[96]. - Financial services revenue was ¥1,820,059,014.56, with a gross margin of 57.41%, indicating a year-on-year decrease of 6.73%[96]. Assets and Liabilities - Total assets at the end of 2016 amounted to ¥79.83 billion, a 5.63% increase from ¥75.57 billion in 2015[43]. - The total share capital increased by 80% to ¥3.36 billion at the end of 2016 from ¥1.87 billion in 2015[43]. - The company has ongoing construction projects with a total above-ground area of 320,856 M² and a total building area of 551,663 M², all with a 100% equity ratio for the Pudong Financial Plaza[13]. - The company has a total of 244,802 square meters of land in the Lujiazui Financial Trade Zone, with a cooperative development project covering 23,804 square meters and a profit share of 55%[109]. - The company has a total of 1,000,000 square meters of land under development, with a significant portion located in high-demand urban areas[109]. Occupancy and Rental Rates - The average occupancy rate of mature Grade A office buildings reached approximately 97.5%, with an average rent of 7.64 yuan/square meter/day, an increase of over 10% year-on-year[7]. - The newly launched project, Century Metropolis Plaza, achieved an overall occupancy rate of 80.6% and an average rent of 9.14 yuan/square meter/day by the end of the year[7]. - The average rent for high-quality R&D buildings reached 5.11 yuan/square meter/day, with an occupancy rate of 97.4%[7]. - The occupancy rate for the long-term held residential project, Donghe Apartment, was 99.51% at the end of 2016, with an average rent of RMB 24,678 per unit per month[21]. - The Shanghai New International Expo Center generated rental income of CNY 688 million in 2016, a year-on-year increase of 22.6%[73]. Strategic Initiatives - The company is expanding its business scope from commercial real estate to the financial sector, aiming to establish a new business pattern of "commercial real estate + commercial retail + financial development"[5]. - The company aims to create a financial holding group with clear strategic goals and competitive advantages through its dual-wheel development strategy[5]. - The company plans to enhance resource integration and management efficiency, focusing on shareholder returns and investor relations maintenance[5]. - The company aims to maximize shareholder profits through a dual-driven strategy of "real estate + finance"[56]. - The company is focusing on integrating real estate and financial services to create a synergistic effect and expand its market presence[87]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 3.94 per 10 shares, totaling RMB 1.325 billion, pending shareholder approval[28]. - The company distributed 949 million RMB in dividends to shareholders, representing 50% of the net profit attributable to the parent company for 2015[82]. - The cash dividend for 2015 was RMB 5.08 per 10 shares, amounting to RMB 948,783,472.00, which accounted for 49.94% of the net profit attributable to shareholders[164]. - Since 2002, the company has maintained an annual cash dividend policy, with total cash dividends exceeding RMB 5.5 billion, approximately 163% of the total share capital[162]. Construction and Development Projects - The company has several major projects under construction, including the Shanghai Tower with a total building area of 576,000 square meters, expected to be completed in 2017[10]. - The total investment in ongoing real estate projects reached RMB 494,801 million in the Lujiazui Financial Plaza project, with an actual investment of RMB 70,644 million during the reporting period[112]. - The company has ongoing projects in Tianjin with a total planned construction area of 361,040 square meters for the Tianjin Lujiazui Financial Plaza, with an actual investment of RMB 95,569 million[112]. - The company has identified new cooperative development projects that could enhance its market position and profitability in the real estate sector[109]. Market Trends and Challenges - The projected total supply of Grade A office buildings in Shanghai over the next five years is expected to exceed 7 million square meters, with significant pressure anticipated in 2017[137]. - The rental rates for Grade A office buildings are expected to decline over the next 2-3 years due to the substantial increase in supply, particularly in the core areas of Pudong[137]. - The commercial real estate sector faces intense competition, with new projects emerging and existing ones undergoing renovations to enhance service quality[145]. - The shift towards experiential consumption in commercial real estate is driving projects to focus on entertainment, leisure, and dining experiences[147]. Corporate Governance and Compliance - The company has committed to avoiding any direct or indirect competition with its subsidiaries in the financial services sector[165]. - The company has pledged to minimize and avoid related party transactions with its subsidiaries, ensuring fair treatment in business cooperation[165]. - The listed company will maintain independent operations and decision-making capabilities, avoiding reliance on the parent company[167]. - The company has engaged Ernst & Young Hua Ming as its auditor for 7 years, with an audit fee of 3.358 million RMB[177]. - The company has not faced any major litigation or arbitration matters during the reporting period[179].