Deluxe Family(SH:600503)2025-04-25 10:50Financial Performance - The company reported a net profit attributable to shareholders of -34,419,037.11 yuan for 2024, a decrease of 159.37% compared to the previous year's profit of 57,973,378.64 yuan[6]. - Total operating revenue for 2024 was 352,787,695.35 yuan, representing an increase of 118.47% from 161,477,429.63 yuan in 2023[26]. - Basic earnings per share for 2024 were -0.0215 yuan, a decline of 159.39% from 0.0362 yuan in 2023[28]. - The company plans not to distribute profits or increase capital reserves for 2024 due to the lack of profitability[6]. - The company faced a decrease in net profit due to the absence of dividend income from Xiamen International Bank compared to the previous year[29]. - The company reported a significant negative cash flow from operating activities, totaling -318.06 million RMB in the first quarter of 2024[32]. - The company achieved a net profit attributable to the parent company of ¥57,973,378.64 in 2023, with cumulative distributable profits amounting to ¥1,445,847,795.67[125]. - The company reported a total comprehensive loss of ¥65,211,226.72 for 2024, compared to a loss of ¥71,685,629.03 in 2023, showing a slight improvement[195]. Assets and Liabilities - The company's net assets attributable to shareholders decreased by 1.78% to 3,580,597,472.19 yuan at the end of 2024, down from 3,645,478,180.49 yuan in 2023[27]. - The total assets increased by 5.01% to 4,434,722,793.85 yuan at the end of 2024, compared to 4,223,037,446.68 yuan in 2023[27]. - As of December 31, 2024, the company's total assets amounted to 4.43 billion RMB, with net assets of 3.58 billion RMB[39]. - The company's total liabilities increased to CNY 786,084,943.34 from CNY 592,770,159.45, reflecting an increase of about 32.6%[187]. - The company's asset-liability ratio is significantly lower than the industry average, indicating a strong financial position amidst increasing competition[91]. Cash Flow - Cash flow from operating activities was -223,691,637.81 yuan, an improvement from -347,304,714.45 yuan in 2023[26]. - Operating cash inflow for 2024 reached ¥497,253,642.36, a significant increase of 76.9% compared to ¥281,236,725.60 in 2023[199]. - Net cash flow from operating activities improved to -¥223,691,637.81 in 2024, an enhancement from -¥347,304,714.45 in 2023[199]. - Cash outflow for tax payments increased to ¥353,287,645.05 in 2024, compared to ¥220,350,735.07 in 2023[199]. Real Estate Development - The company’s real estate development projects are primarily located in Shanghai, Suzhou, and Zunyi, with significant sales performance in these regions[40]. - The Shanghai Yangpu project is expected to enter the market in 2025 after obtaining necessary approvals in 2024[40]. - The Suzhou project achieved a sales contract amount of approximately 330 million RMB in 2024, despite a declining market[40]. - The Zunyi project ranked among the top in sales within the region, with a monthly average sales rate leading the market after its launch[40]. - The real estate industry remains a pillar of the economy, contributing 6.3% to GDP in 2024, with significant impacts on various related sectors[85]. Governance and Management - The company has established and continuously improved its governance structure in compliance with relevant laws and regulations, ensuring operational integrity and risk reduction[95]. - The annual general meeting approved several key resolutions, including the 2023 annual report and financial statements, as well as the profit distribution plan[98]. - The company maintains complete independence from its controlling shareholder in terms of assets, operations, and financial matters[98]. - The company has a structured approach to stakeholder engagement, ensuring fair treatment of shareholders and other stakeholders[96]. - The company has actively responded to national calls for corporate social responsibility, particularly in environmental protection[96]. Research and Development - The company reported a total R&D investment of ¥591,604.63, which represents 0.17% of its operating revenue[64]. - The company has 3 R&D personnel, accounting for 2.33% of the total workforce[66]. - Research and development expenses for 2024 were ¥591,604.63, a decrease from ¥986,201.29 in 2023, indicating a reduction in investment in innovation[194]. Market Conditions - The real estate policies in China in 2024 shifted focus to stabilizing the market, with measures aimed at reversing the downward trend in the industry[45]. - In 2024, the Shanghai real estate market saw a transaction volume of 21.6 million units, a year-on-year increase of 20%, marking a three-year high[47]. - In Suzhou, the total area of new residential transactions in 2024 was approximately 4.29 million square meters, a year-on-year decrease of about 26%, with an average transaction price of approximately 26,637 yuan per square meter, down about 5%[48]. - In Zunyi, the new residential market recorded 7,038 transactions in 2024, a year-on-year decline of approximately 41%, with a total of 36 land transactions covering a construction area of 1.44 million square meters, down 56.9% year-on-year[49]. Future Plans - The company plans to develop and operate the remaining industrial land of Ningbo Moxi based on the needs of the upstream and downstream of the new materials industry[42]. - The company aims to solidify its real estate business by adhering to its investment strategy, emphasizing investment safety, and focusing on high-quality projects in central cities[41]. - In 2025, the company aims to launch sales for its Shanghai project, adopting a hotel-style villa concept to enhance product competitiveness[90]. - The company plans to focus on precise investments in Shanghai, targeting high-quality improvement projects to ensure investment safety and stable performance[87]. Audit and Compliance - The audit report confirmed that the financial statements fairly reflect the financial position and operating results of Huayi Family for the year ended December 31, 2024[171]. - The internal control audit for 2023 was conducted by Zhongxinghua Accounting Firm, resulting in a standard unqualified opinion[132]. - The current auditor, Zhongxinghua Accounting Firm, has been engaged for 7 years with an audit fee of 750,000 RMB[142].