SPG(SZ:000029)2025-03-21 12:50Financial Performance - The company's operating revenue for 2024 was ¥407,022,191.44, a decrease of 23.33% compared to ¥530,887,720.68 in 2023[22]. - The net profit attributable to shareholders for 2024 was -¥176,710,947.65, an improvement of 29.55% from -¥250,839,542.09 in 2023[22]. - The net cash flow from operating activities was -¥127,403,949.79, a significant decline of 112.19% compared to ¥1,045,037,248.19 in 2023[22]. - The basic earnings per share for 2024 was -¥0.1747, showing a 29.53% improvement from -¥0.2479 in 2023[22]. - Total assets at the end of 2024 were ¥5,987,780,656.67, down 7.67% from ¥6,485,312,507.46 at the end of 2023[22]. - The net assets attributable to shareholders decreased by 4.85% to ¥3,512,112,493.42 from ¥3,691,082,484.20 in 2023[22]. - The weighted average return on equity for 2024 was -4.91%, an improvement from -6.52% in 2023[22]. - The net profit after deducting non-recurring gains and losses was -¥197,979,921.69, a 26.12% improvement from -¥267,984,286.36 in 2023[22]. - The company reported a continuous operating capability uncertainty as the net profit for the last three accounting years has been negative[22]. Revenue Breakdown - Real estate sector contributed ¥162,523,053.49, accounting for 39.93% of total revenue, with a year-on-year increase of 37.06%[40]. - Engineering construction revenue dropped by 50.55% to ¥160,327,744.72, representing 39.39% of total revenue[40]. - Total operating revenue for 2024 was ¥407,022,191.44, a decrease of 23.33% compared to ¥530,887,720.68 in 2023[40]. Market Conditions - The overall real estate market remains under pressure, with new housing sales continuing to adjust, impacting the company's sales performance[31]. - The company has identified ongoing challenges in the real estate sector, necessitating strategic adjustments to navigate the market recovery[31]. - The company anticipates that the real estate market will stabilize, driven by effective policy implementation and market recovery[74]. Operational Highlights - The company is currently developing multiple projects, including the Linxin Garden Phase I in Huizhou, which is 96% complete[32]. - The leasing business completed 106.4% of its annual target, indicating strong performance in rental operations[37]. - The company achieved a sales increase of 108 units from existing projects such as Cui Lin Yuan and Tian Yue Wan, with the Guangming Li project selling out on the opening day and achieving early delivery[37]. Governance and Compliance - The governance structure of the company is well-defined, with clear responsibilities among the board of directors, management, and supervisory board, ensuring effective checks and balances[84][86][88]. - The company adheres to legal and regulatory requirements in its operations, including the preparation and conduct of shareholder meetings, ensuring transparency and compliance[85][86]. - The management team is responsible for the company's operational management and effectively executes the board's decisions, with no signs of internal control issues[88]. Internal Controls and Auditing - The company has established a comprehensive financial accounting system to ensure accurate financial reporting[90]. - The company maintained effective internal control over financial reporting as of December 31, 2024, according to the internal control audit report[127]. - The audit opinion issued was a standard unqualified opinion, confirming that the financial statements fairly reflect the company's financial position[183]. Employee and Management Structure - The company reported a total of 233 employees at the end of the reporting period, with 98 in the parent company and 135 in major subsidiaries[118]. - The professional composition includes 93 production personnel, 26 sales personnel, 14 technical personnel, 25 financial personnel, and 75 administrative personnel[118]. - The company has a strong focus on financial management, with key personnel having extensive backgrounds in finance and management from various reputable organizations[97][98][99]. Strategic Initiatives - The company plans to focus on optimizing business development paths and exploring innovative operational models to adapt to external changes[74]. - The company aims to enhance asset management and improve service quality to create more value growth points[76]. - The company is actively pursuing the sale of non-core assets, including properties in Shantou and the United States, to optimize resource allocation[38]. Shareholder Engagement - The company has been engaging with individual investors regarding its operational status and strategic planning[79]. - The company has received numerous inquiries from investors about shareholder numbers and competition commitments[79]. - The company is actively engaging with individual investors through multiple communication channels, including phone calls and written inquiries, to address various concerns such as shareholder numbers and litigation progress[80][82][85].