GZPR(SH:600684)2015-04-21 16:00Financial Performance - The company's operating revenue for 2014 was CNY 2,130,350,281.79, a decrease of 8.84% compared to CNY 2,337,059,069.32 in 2013[24] - The net profit attributable to shareholders for 2014 was CNY 269,209,759.71, down 40.12% from CNY 449,571,230.79 in the previous year[24] - The total profit for the company was 378.92 million RMB, down 36.68% year-on-year[31] - The basic earnings per share for 2014 were CNY 0.38, a decrease of 39.68% compared to CNY 0.63 in 2013[25] - The weighted average return on equity decreased to 13.78% from 27.33% in 2013, a reduction of 13.55 percentage points[25] - The company reported a comprehensive income of CNY 267,097,005.60, down from CNY 449,822,343.30 in the previous year, a decrease of 40.6%[156] Cash Flow and Assets - The net cash flow from operating activities was negative CNY 1,093,569,997.24, a significant decline of 393.38% compared to CNY 372,754,780.48 in 2013[24] - The company's cash and cash equivalents decreased by 54.10% to ¥757,834,528.06, representing only 11.19% of total assets[57] - The total assets at the end of 2014 amounted to CNY 6,772,308,182.43, an increase of 28.68% from CNY 5,263,100,208.85 in 2013[24] - The total current assets as of December 31, 2014, amounted to CNY 6,392,070,665.45, an increase from CNY 4,783,968,671.16 at the beginning of the year[148] - The company’s cash and cash equivalents decreased to CNY 757,834,528.06 from CNY 1,651,176,073.36 at the beginning of the year[148] Investment and Development - The total investment amount for real estate projects is estimated at CNY 1,912,569,000, with a total construction area of 2,684,304 square meters[42] - The company maintained a cautious approach to land acquisition, focusing on residential and commercial real estate development[30] - The company initiated the Huaying commercial real estate project and is advancing its health industry strategy, with the first step completed by establishing a health management company[52] - The company plans to explore and establish operational management models for health-related projects, with future developments in Haikou's Wuyuanhe project[52] Shareholder and Governance - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling CNY 56,897,381.52[2] - The company distributed a total of CNY 56,897,381.52 in cash dividends for 2014, representing 21.13% of the net profit attributable to shareholders[73] - The board of directors consists of 11 members, including 4 independent directors, ensuring the protection of minority shareholders' rights[75] - The company has received recognition for its integrity in business practices, being awarded the "Contract-abiding and Trustworthy Enterprise" title for 19 consecutive years[74] Market Conditions and Strategy - The company anticipates challenges due to market and policy uncertainties, as well as limitations in its main business scale, which may pose competitive risks[67] - The overall profit margin in the real estate industry is under pressure due to rising costs in land, construction, labor, and finance, leading to a downward trend in profitability[68] - In 2014, China's economic growth rate declined to 7.4%, prompting favorable policies for the real estate sector, which is expected to see a recovery due to government support for housing demand[63] - The company plans to focus on residential and commercial real estate development while actively exploring health and wellness sectors, aiming for a stable cash flow through property management[65] Employee and Management - The total number of employees in the parent company and major subsidiaries is 1,056, with 953 in major subsidiaries and 103 in the parent company[120] - The company has established a salary policy based on fairness, competitiveness, and legality, with a salary structure that includes basic salary, performance pay, and bonuses[121] - The company has a training system that includes various training programs for middle and senior management, as well as professional skills training[122] Financial Reporting and Compliance - The company adheres to accounting standards, ensuring that financial statements accurately reflect its financial position and performance[192] - The audit committee confirmed the financial report for 2013 in April 2014, ensuring compliance with auditing standards[135] - The company has established a system for accountability regarding significant errors in annual report disclosures, with no major errors reported to date[141]