深振业A(000006) - 2024 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2024 reached ¥6,064,948,157.84, representing a 115.79% increase compared to ¥2,810,603,447.85 in 2023[15]. - The net profit attributable to shareholders for 2024 was -¥1,568,365,378.32, a decrease of 95.40% from -¥802,652,783.79 in 2023[15]. - The net cash flow from operating activities significantly improved to ¥1,114,966,173.23, up 1432.32% from ¥72,763,171.55 in the previous year[15]. - Total assets at the end of 2024 were ¥17,226,824,619.46, down 33.54% from ¥25,919,169,551.13 at the end of 2023[15]. - The net assets attributable to shareholders decreased by 22.49% to ¥5,403,775,698.78 from ¥6,972,141,077.10 in 2023[15]. - The basic earnings per share for 2024 was -¥1.1618, a decline of 95.39% compared to -¥0.5946 in 2023[15]. - The company reported a significant increase in revenue from its core business, indicating potential market expansion strategies[15]. - The company’s gross profit margin decreased to 8.01% in 2024 from the previous year, with a significant increase in operating costs by 226.01%[50]. - The company’s inventory decreased by 36.72% to approximately ¥10.78 billion, primarily due to increased turnover and inventory impairment provisions[51]. - The company’s operations in Jiangsu Province generated ¥4.24 billion, making up 69.89% of total revenue, marking a significant growth from the previous year[48]. Investment and Projects - The company successfully completed a contract signing amount of CNY 4.234 billion, exceeding the annual target and recovering CNY 3.436 billion in funds[28]. - The company has a total of 11 ongoing and newly completed projects as of December 31, 2024, with a cumulative investment of approximately 1.1 billion yuan[35]. - The project "博文雅苑" in Shenzhen has a completion progress of 69% and an expected total investment of 862.87 million yuan[35]. - The project "天境云庭" in Shenzhen is currently 35% completed with an expected total investment of 1.78 billion yuan[35]. - The project "振业城五期" in Changsha has an 80% equity stake and is 35% completed, with an expected total investment of 736.98 million yuan[35]. - The company has ongoing projects with significant investments, such as the "Tianjing Cloud Garden" project, which has a cumulative investment of approximately 1.19 billion[76]. - The company completed several projects, including the "Deep Shantou Cooperation Zone" project, which generated revenues of approximately ¥2.06 billion[76]. Financing and Debt Management - The company successfully issued CNY 500 million of medium-term notes at a 3% coupon rate, optimizing its debt structure[32]. - The financing balance at the end of the period was ¥48.99 billion, with an average financing cost ranging from 2.41% to 5.23%[41]. - The company’s net cash flow from financing activities was negative at -¥1,900,048,045.71, a 62.51% increase in outflow compared to the previous year[63]. - The company issued two tranches of corporate bonds totaling ¥1.5 billion with interest rates of 3.30% and 3.45%, fully utilized for repaying bank loans and supplementing working capital[79]. Risk Management and Future Outlook - The company has acknowledged uncertainties regarding its ability to continue as a going concern due to negative net profits in recent years[15]. - The company is focusing on risk management and has outlined potential risks and countermeasures in its future development outlook[5]. - The company anticipates a recovery in the real estate market in 2025, supported by proactive fiscal policies and moderate monetary easing, aiming for improved supply-demand dynamics[86]. - The company faces significant market risks, with overall sales performance in the real estate sector still declining, particularly in cities undergoing deep adjustments[86]. - In 2025, the company plans to focus on transformation and upgrading, aiming for high-quality sustainable development while addressing existing challenges[87]. Corporate Governance and Management - The company appointed Du Xun as the secretary of the board and Ye Wenfeng as the vice president, enhancing the core management team[98]. - The company’s board of directors is now composed of individuals with diverse expertise, which is expected to contribute positively to its future growth[110]. - The company is focused on expanding its market presence and enhancing its governance structure through the appointment of new independent directors[112]. - The company is committed to maintaining transparency and effective communication with stakeholders during the transition period[105]. - The company has established a comprehensive insider information management system to ensure strict compliance with disclosure regulations[99]. Employee and Remuneration Policies - The total pre-tax remuneration for directors, supervisors, and senior management during the reporting period amounted to 634.48 million RMB[123]. - The company has established a compensation mechanism linked to performance evaluation, with a structure that includes position salary, incentive pay, allowances, and benefits[137]. - The company’s management remuneration is directly linked to the company's operational performance, with evaluations based on annual assessments[121]. - The company has a diverse management team with extensive experience in various sectors, including engineering and finance[119][120]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 61,314, down from 74,404 at the end of the previous month[187]. - The largest shareholder, Shenzhen Municipal Government State-owned Assets Supervision and Administration Commission, holds 21.93% of shares, totaling 296,031,373 shares[187]. - The total number of shares outstanding is 1,349,995,046, with 99.9994% being unrestricted shares[185]. - The company has not experienced any changes in its controlling shareholder during the reporting period[190]. Compliance and Internal Controls - The company has a robust internal control system that is effective and has no major deficiencies reported during the period[143]. - The internal control audit report confirms that the company maintained effective financial reporting internal controls as of December 31, 2024, with a standard unqualified opinion issued[147]. - The company has committed to enhancing the management of undisclosed information and has been fulfilling this commitment since October 31, 2007[155]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[156].