SMC(SH:600823)2017-03-24 16:00Financial Performance - In 2016, the company's operating revenue was CNY 13,708,025,120.81, a decrease of 12.22% compared to CNY 15,616,434,622.89 in 2015[21] - The net profit attributable to shareholders of the listed company was CNY 2,118,832,759.79, an increase of 4.17% from CNY 2,034,086,230.39 in the previous year[21] - The company reported a net loss of CNY 264,438,798.58 for the year, with a total distributable profit of CNY 243,358,752.22 after dividend distribution[6] - The total assets of the company at the end of 2016 were CNY 79,949,561,271.87, reflecting a 0.39% increase from CNY 79,639,545,887.14 in 2015[23] - Basic earnings per share for 2016 was CNY 0.79, an increase of 3.95% compared to CNY 0.76 in 2015[24] - The diluted earnings per share for 2016 also stood at CNY 0.79, reflecting the same growth rate of 3.95% from the previous year[24] - The weighted average return on equity decreased to 8.77% in 2016, down from 10.32% in 2015, a decline of 1.55 percentage points[24] - The company achieved operating revenue of 13.708 billion RMB, a year-on-year decrease of 12.22%[47] - Net profit for the period was 2.738 billion RMB, down 5.67% year-on-year, while net profit attributable to shareholders increased by 4.17% to 2.119 billion RMB[47] Cash Flow and Investments - The cash flow from operating activities was CNY 1,135,004,610.27, a significant recovery from a negative cash flow of CNY -27,608,737.99 in 2015[21] - The net cash flow from operating activities for Q2 2016 was CNY 1,115,490,140.10, indicating strong operational performance[28] - The net cash flow from investing activities improved to ¥1.27 billion from a negative ¥4.54 billion, representing a 127.97% increase[61] - The net cash flow from financing activities turned negative at ¥1.12 billion, a decline of 121.47% compared to a positive ¥5.21 billion last year[61] - The company has a total financing amount of approximately ¥15.46 billion, with an average financing cost of 5.83%[81] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of CNY 0.8 per 10 shares, totaling CNY 214,352,472.08, and to increase capital by issuing 4 additional shares for every 10 shares held[6] - The company distributed a cash dividend of RMB 0.8 per share for the 2016 fiscal year, totaling RMB 214,352,472.08[96] Acquisitions and Strategic Developments - The company completed a share transfer agreement with LeEco for a total transaction price of 2.972 billion RMB, transferring 100% equity of two subsidiaries[49] - The company acquired 51% equity of Qianhai Shimao Development for 2.452 billion RMB and 100% equity of Hangzhou Shimao Ruiying for 1.548 billion RMB, among other acquisitions[38] - The company completed the acquisition of 51% equity in Qianhai Shimao Development (Shenzhen) Co., Ltd. and 100% equity in Hangzhou Shimao Ruiying Real Estate Co., Ltd. and Nanchang Water City Investment Co., Ltd. in December 2016[99] - The company has committed to measures to mitigate the dilution of immediate returns from the 2016 non-public stock issuance, including restrictions on the transfer of benefits to other entities[103] Market and Operational Focus - The company operates in over 20 cities, focusing on commercial real estate development and management, primarily in economically developed regions[36] - The company aims to enhance asset scale and operational performance through a diversified business model centered on commercial real estate[36] - The company anticipates continued government regulation in the real estate sector, focusing on stabilizing the market and promoting healthy development[89] - The company has significant real estate development projects in various cities, with a total planned construction area of 999,000 square meters, including multiple cooperative development projects[70] Financial Health and Liabilities - The company has a total of RMB 23.12 billion in guarantees for entities with asset-liability ratios exceeding 70%[127] - The total amount of guarantees provided to subsidiaries during the reporting period was RMB 3.84 billion, with a balance of RMB 25.97 billion at the end of the period[126] - The company has provided a joint liability guarantee of RMB 50 billion for a loan of RMB 140 billion taken by its wholly-owned subsidiary, with a remaining balance of RMB 82 billion as of the reporting period[127][128] Corporate Governance and Compliance - The company has received a standard unqualified audit report from its accounting firm, ensuring the accuracy of its financial statements[5] - The company has committed to ensuring that shareholders are promptly informed of any significant information affecting the company, as disclosed by Shimao Property (0813HK) [98] - The company has established a communication framework with investors to ensure timely and accurate information disclosure[183] - The company has maintained independence from its controlling shareholder, ensuring no interference in decision-making[184] Human Resources and Management - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to 9.1695 million yuan[174] - The company has a total of 1,658 employees, with 1,600 in major subsidiaries and 58 in the parent company[177] - The company has implemented training programs for different management levels, focusing on leadership development and professional skills[179] - The company has seen changes in senior management, with three vice presidents resigning during the reporting period[175] Shareholder Structure and Changes - Peak Win International Limited holds 1,171,800,000 shares, representing 43.73% of the total shares, with 210,000,000 shares pledged[153] - The actual controller of the company is Xu Rongmao, who is also the chairman of the board[156] - The company has no strategic investors or general legal entities among the top ten shareholders[155] - The company’s shareholder structure has shown a significant change, indicating potential shifts in investor confidence and market strategy[149]