深振业A(000006) - 2015 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2015 was approximately CNY 3.65 billion, representing a 56.92% increase compared to CNY 2.33 billion in 2014[15]. - The net profit attributable to shareholders decreased by 17.97% to approximately CNY 416.75 million from CNY 508.03 million in 2014[15]. - The net profit after deducting non-recurring gains and losses increased by 57.93% to approximately CNY 417.66 million from CNY 264.47 million in 2014[15]. - The basic earnings per share decreased by 17.96% to CNY 0.3087 from CNY 0.3763 in 2014[15]. - The weighted average return on equity was 9.77%, down from 12.17% in 2014, reflecting a decrease of 2.40%[15]. - The company achieved a total revenue of 3.654 billion yuan in 2015, an increase of 56.92% compared to the previous year[28]. - Real estate sales accounted for 97.65% of total revenue, amounting to approximately CNY 3.57 billion, which is a 58.85% increase compared to CNY 2.25 billion in 2014[37]. - The net profit for the year was 439 million yuan, reflecting the company's effective cost management strategies[28]. Assets and Liabilities - The total assets of the company increased by 8.09% to approximately CNY 12.70 billion at the end of 2015, up from CNY 11.75 billion at the end of 2014[15]. - The net assets attributable to shareholders increased by 6.26% to approximately CNY 4.39 billion at the end of 2015, compared to CNY 4.13 billion at the end of 2014[15]. - The company reported a total of CNY 11.51 billion in assets under construction, indicating significant ongoing investment in real estate projects[56]. - The total liabilities of the company amounted to RMB 8,208,379,056.36, up from RMB 7,538,751,702.75, indicating an increase of approximately 8.88%[193]. - The company’s non-current liabilities rose to RMB 3,949,990,985.06 from RMB 2,134,305,366.17, indicating a substantial increase of approximately 84.93%[193]. Cash Flow - The net cash flow from operating activities improved by 72.34%, reaching approximately CNY -303.66 million, compared to CNY -1.10 billion in 2014[15]. - Total operating cash inflow for 2015 was CNY 3,083,273,987.44, a decrease of 2.39% compared to 2014[48]. - Total cash and cash equivalents increased by 163.52% in 2015, amounting to CNY 476,602,597.26[49]. - The year-end cash and cash equivalents balance rose by 37.94% to 1.7327 billion yuan, attributed to increased cash flow from operating and financing activities[122]. Financing Activities - The company successfully issued 1.5 billion yuan in corporate bonds, saving approximately 25 million yuan in financing costs[29]. - Cash inflow from financing activities surged by 211.41% in 2015, reaching CNY 3,516,851,516.06, primarily due to bond issuance and new loans[49]. - The company raised CNY 1.5 billion through a bond issuance in March 2015, with a net amount of CNY 1.49 billion after expenses, primarily used for repaying bank loans and supplementing working capital[62]. Dividends - The company plans to distribute a cash dividend of CNY 1.20 per 10 shares to all shareholders based on the total share capital as of December 31, 2015[6]. - For the 2015 fiscal year, the proposed cash dividend is CNY 1.20 per 10 shares, amounting to CNY 161,999,405.52, representing 38.87% of the net profit attributable to shareholders[79]. - The cash dividend for 2015 is fully supported by the company's distributable profits, which amount to CNY 161,999,405.52[81]. Operational Highlights - The company completed 270,000 square meters of new construction and 270,000 square meters of project completions during the year[28]. - The company plans to diversify project acquisition methods, including government housing projects and urban renewal initiatives[29]. - The company has developed 10 new materials and technologies for application in its projects[29]. - The company received multiple accolades, including being ranked among the top ten real estate developers in Shenzhen for 2015[28]. Management and Governance - The company has maintained a stable management team with no significant changes in shareholding among senior executives during the reporting period[145]. - The company’s current president, Jiang Zanming, has held the position since May 2013 and has a background in engineering[148]. - The company has implemented a cash dividend policy, distributing CNY 1.18 per 10 shares for the 2014 fiscal year, totaling CNY 159,299,415.43, which is 31.36% of the net profit attributable to shareholders[78]. Risks and Future Outlook - The company faces risks including market competition and insufficient land resources, particularly in the Shenzhen market[68]. - The company aims for a cash recovery of at least ¥3.92 billion and a contract sales revenue of at least ¥4 billion in 2016[70]. - The company anticipates a gradual recovery in real estate investment growth, driven by improved financing conditions and government policies[68].