SMC(SH:600823)2016-03-22 16:00Financial Performance - The net profit attributable to shareholders for 2015 was CNY 779,617,395.77, with an actual distributable profit of CNY 718,322,300.18 after deductions[2]. - The company reported a total revenue of CNY 15,032,804,825.89 for 2015, representing an 18.36% increase compared to CNY 12,700,954,264.84 in 2014[18]. - The net profit attributable to shareholders increased by 8.11% to CNY 2,045,633,988.21 from CNY 1,892,146,372.41 in the previous year[18]. - The basic earnings per share for 2015 was CNY 1.16, an increase of 8.41% from CNY 1.07 in 2014[19]. - The net cash flow from operating activities was CNY 445,164,982.78, a significant increase of 484.50% compared to CNY 76,162,301.77 in 2014[18]. - The net profit for 2015 was approximately ¥2.92 billion, reflecting a year-on-year increase of 11.93%[36]. - The total annual revenue for 2015 was approximately ¥15.03 billion, representing a year-on-year growth of 18.36%[36]. - The company achieved property sales revenue of approximately ¥13.78 billion, while non-property sales revenue accounted for 8.31% of total revenue, amounting to about ¥1.25 billion[36]. Assets and Liabilities - The company’s total assets reached CNY 65,347,776,653.12, a 10.95% increase from CNY 58,900,514,434.57 in 2014[18]. - The company’s net assets attributable to shareholders increased by 21.05% to CNY 19,461,636,909.08 from CNY 16,077,935,247.56 in 2014[18]. - The total liabilities increased to CNY 40,692,595,094.40 from CNY 38,865,493,215.75, representing a rise of about 4.3%[196]. - The company’s cash and cash equivalents rose to ¥6,633,782,392.95, up from ¥5,189,585,343.06, indicating an increase of approximately 27.9%[194]. - The accounts receivable rose to ¥1,645,830,344.85 from ¥1,082,705,970.70, representing an increase of approximately 52.0%[194]. - The company’s long-term borrowings increased to ¥4,499,880,000.00 from ¥4,144,880,000.00, reflecting a rise of approximately 8.6%[196]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 1.1 per 10 shares, totaling CNY 210,524,749.38, along with a capital reserve conversion of 4 shares for every 10 shares held[2]. - The company will distribute a cash dividend of CNY 1.1 per 10 shares, totaling CNY 210.5 million, and will issue 4 bonus shares for every 10 shares held[80]. - The company’s cash dividend policy was approved at the 2014 annual general meeting, with a total cash distribution of CNY 199.3 million for that year[77]. Market and Operational Insights - The company holds a land reserve of 9.56 million square meters, focusing on economically developed cities in the Yangtze River Delta, Bohai Rim, and Western Taiwan Straits regions[33]. - The company’s operational management capabilities have improved, contributing to the growth of its commercial real estate development and investment operations[37]. - The overall real estate market in China saw a sales area increase of 6.5% in 2015, with total sales revenue reaching ¥872.81 billion, a growth of 14.4%[35]. - The company achieved a contract signing amount of 17.71 billion RMB, representing a year-on-year growth of 10.4% compared to 2014[38]. - The company has ongoing development projects in various cities, including a 96,000 square meter project in Nanjing with a 50% ownership stake[57]. Risks and Compliance - The company has outlined potential risks in its future development strategies, urging investors to be aware of investment risks[3]. - The company faces risks from global economic uncertainties and domestic real estate market regulations, which may impact its operations[75]. - The company has maintained compliance with real estate market regulations and has not engaged in illegal activities such as land hoarding or price manipulation[82]. - The company has disclosed its land use situation in a timely and complete manner, with no violations leading to penalties or investigations[82]. Corporate Governance - The company has committed to ensuring that the board of directors will not exceed 50% representation from Shimao Real Estate after the completion of the asset acquisition[81]. - The company has established a priority purchase right for acquiring shares in three commercial real estate projects, ensuring a minimum acquisition of 51% ownership[82]. - The company has independent directors with various roles in other organizations, enhancing governance and oversight[145]. - The company maintains a focus on aligning executive compensation with performance metrics to drive accountability[146]. Employee and Management Structure - The total number of employees in the parent company is 114, while the main subsidiaries employ 2,208, resulting in a total of 2,322 employees[150]. - The company has 1,395 technical personnel, 379 financial personnel, and 378 administrative personnel among its total workforce[150]. - The company has implemented training programs for executives, middle management, and entry-level employees to enhance leadership and professional skills[152]. Stock Options and Incentives - The stock option incentive plan allowed 12 participants to exercise 5.4 million options at a price of 6.29 RMB per share[122]. - The first phase of the stock option plan had 1.82 million options exercised, leaving 1.8 million options unexercised and subsequently canceled[91]. - The company executed stock option incentives, with 1.32 million shares exercised at a price of RMB 6.29 per share during the reporting period[113]. Audit and Financial Reporting - The audit committee approved the company's 2015 annual financial report, which reflects the financial status as of December 31, 2015[171]. - The audit committee found that the internal control evaluation report for 2015 accurately reflects the company's internal control situation[174]. - The company’s financial statements for 2015 were deemed to accurately represent its financial condition and operational results[171].