BURTC(SH:600861)2018-03-30 16:00Financial Performance - In 2017, the company achieved a net profit of CNY 47,901,428.21, with a total distributable profit of CNY 420,648,518.67 as of December 31, 2017[5]. - The company's operating revenue for 2017 was CNY 2,223,186,712.03, representing a decrease of 18.27% compared to CNY 2,720,161,335.69 in 2016[21]. - The net profit attributable to shareholders of the listed company was CNY 84,732,440.19, down 1.06% from CNY 85,638,257.36 in the previous year[21]. - The company reported a significant decline in net cash flow from operating activities, which was CNY 27,227,934.01, a decrease of 96.84% compared to CNY 862,279,850.80 in 2016[21]. - As of the end of 2017, total assets amounted to CNY 3,992,248,594.08, reflecting a decrease of 12.27% from CNY 4,550,665,593.58 in 2016[21]. - The basic earnings per share for 2017 was CNY 0.2675, a decrease of 1.04% from CNY 0.2703 in 2016[23]. - The weighted average return on equity was 3.56%, down from 3.65% in the previous year[23]. - Operating profit was CNY 114.13 million, down 32.53% compared to the previous year[38]. - Net profit for the year was CNY 83.15 million, reflecting a decline of 6.68% year-on-year[38]. - The main business revenue from sales of goods accounted for 58.04% of total revenue in 2017, down from 60.25% in 2016[41]. Cash Flow and Investments - The company reported a significant decrease in net cash flow from operating activities, down 96.84% to CNY 27.23 million[45]. - Investment activities resulted in a net cash outflow of ¥342,058,425.13, a drastic increase of 893.68% compared to the previous year, mainly due to ongoing renovation projects[53]. - Financing activities showed a net cash outflow of ¥109,205,050.44, an increase of 78.91% year-over-year, attributed to reduced loan repayments by subsidiaries[53]. - The company's cash and cash equivalents decreased by 45.26% to ¥512,783,559.15, primarily due to payments related to renovation projects and loan repayments[56]. - The investment property value increased by 54.87% to ¥426,723,102.77, reflecting a change in usage for rental purposes[56]. Business Strategy and Market Trends - The retail sector showed a positive trend in 2017, with typical enterprises experiencing a sales growth of 4.6%, and e-commerce sales growing by 26.8%[32]. - The company operates primarily in the commercial and tourism sectors, with a focus on joint ventures, self-operated, and leasing business models[30]. - The company aims to enhance its supply chain efficiency by extending it towards the production end, thereby reducing costs[33]. - The company has expanded its business model to include community supermarkets and convenience stores, providing a one-stop service for residents[30]. - The company plans to open 5,000 new internet stores in 2018, focusing on innovative retail formats[61]. - The retail market is transitioning from "platform competition" to "ecosystem competition," emphasizing the integration of online and offline channels[62]. - The company plans to achieve a revenue of 2.475 billion yuan and a total profit of 63 million yuan for the fiscal year 2018[81]. - The company will focus on community retail services, aiming to create a "15-minute community service circle" through the development of various retail formats[81]. Shareholder and Governance Information - The company executed a cash dividend policy, distributing 1.50 yuan per 10 shares, totaling approximately 47.52 million yuan for the 2016 fiscal year[87]. - In 2017, the company distributed cash dividends totaling ¥26,928,420.67, representing 31.78% of the net profit attributable to ordinary shareholders[88]. - The largest shareholder, Beijing State-owned Capital Management Center, holds 33.49% of the shares, totaling 106,088,400 shares[116]. - The report indicates that there are no changes in the controlling shareholder during the reporting period[120]. - The company has a strong governance structure with a mix of internal and external directors, promoting accountability and strategic oversight[131]. Employee and Management Information - The company employed a total of 1,673 staff, with 458 in the parent company and 1,215 in major subsidiaries[138]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to CNY 2.459 million[133]. - The company has implemented a training program aimed at enhancing management capabilities and professional skills across various employee levels[141]. - The management team includes experienced professionals with backgrounds in finance and operations, enhancing the company's strategic capabilities[129]. Financial Ratios and Metrics - The company's EBITDA decreased by 21.21% from 334,887,595.42 RMB in 2016 to 263,841,913.97 RMB in 2017[162]. - The current ratio declined by 15.78% from 1.72 in 2016 to 1.45 in 2017, primarily due to payments for renovation projects[162]. - The debt-to-asset ratio improved by 15.79%, decreasing from 46.84% in 2016 to 39.44% in 2017[162]. - The interest coverage ratio increased by 25.32%, rising from 4.00 in 2016 to 5.02 in 2017[162]. - The loan repayment rate improved by 50.85%, increasing from 0.51% in 2016 to 0.78% in 2017[162].