EBJB(600622)2025-04-29 16:25Financial Performance - The company's operating revenue for 2024 was CNY 1,817,734,805.35, a decrease of 58.59% compared to CNY 4,390,114,924.35 in 2023[22]. - The net profit attributable to shareholders for 2024 was a loss of CNY 1,394,338,884.70, compared to a loss of CNY 2,110,519,213.31 in 2023[22]. - The net assets attributable to shareholders decreased by 28.27% to CNY 3,495,266,719.35 at the end of 2024 from CNY 4,872,900,411.55 at the end of 2023[22]. - The total assets of the company at the end of 2024 were CNY 21,944,821,426.25, down 11.24% from CNY 24,724,806,917.04 at the end of 2023[22]. - The cash flow from operating activities for 2024 was CNY 432,587,355.92, a decrease of 13.84% compared to CNY 502,054,659.84 in 2023[22]. - The company's operating revenue for the reporting period was 181,773.48 million RMB, a decrease of 257,238.01 million RMB or 58.59% compared to the same period last year[24]. - The net profit attributable to shareholders for the reporting period was -139,433.89 million RMB, indicating a continuous loss situation[24]. - The basic earnings per share for 2024 was -0.93 RMB, an improvement from -1.41 RMB in 2023[23]. - The weighted average return on equity for 2024 was -33.32%, an increase of 2.21 percentage points compared to -35.53% in 2023[23]. Operational Challenges - The company faced challenges in its real estate development business, with no new land reserves added for several years, leading to a decline in residential development revenue[24]. - The investment income from LP shares was -91,752.35 million RMB due to market fluctuations and operational pressures[24]. - The real estate sector is experiencing a downturn, with a 10.6% decrease in real estate development investment and a 12.9% decline in new housing sales area[36]. - The vacancy rate for Grade A office buildings in Shanghai reached 22.1%, the highest level in nearly two decades, while rental prices in Beijing fell by 16.1% year-on-year[37]. Strategic Initiatives - The company plans to continue its transformation and development strategy, focusing on stabilizing its fund projects despite ongoing losses[25]. - The company aims to strengthen its asset management capabilities and has signed multiple consulting and management contracts, including projects in Qingdao, Fuzhou, and Chongqing[34]. - The company is focusing on real estate asset management as its core business, aiming to build a leading cross-border real estate asset management platform in China[41]. - The company has established a comprehensive asset management business system, capable of providing one-stop real estate asset management solutions[41]. - The company is actively involved in the establishment of platforms for asset management and operation, enhancing its competitive advantage in the industry[40]. Governance and Compliance - The company has established a robust internal control system and governance structure to ensure compliance with legal and regulatory requirements[119]. - The company emphasizes the importance of party discipline and supervision to maintain a clean political environment[113]. - The company has revised its internal management policies to improve operational efficiency and risk management[119]. - The company has implemented a "three major one big" decision-making system to strengthen control over its subsidiaries and improve overall operational efficiency[155]. Financial Management - The company will not distribute profits for the fiscal year 2023, opting to reinvest in business operations instead[141]. - The company plans to optimize its financing strategy to reduce costs and improve capital efficiency, while also seeking support from major shareholders[115]. - The company has provided guarantees for financial institutions related to its subsidiaries, with a total guarantee amount not exceeding RMB 16 billion[195]. - The company has signed a pledge agreement to secure the aforementioned loans with collateral from its receivables[191]. Environmental and Social Responsibility - The company has committed to environmental protection and sustainable development, integrating these concepts into its management and investment decisions[159]. - The company made a total donation of 2.156 million yuan for public welfare projects during the reporting period[163]. - The company allocated 312,700 yuan for poverty alleviation and rural revitalization projects, including 200,000 yuan in funds[164]. - The company has received multiple certifications for its projects, including 3 WELL Gold certifications and 5 LEED Gold/Platinum certifications, covering a total construction area of over 960,000 square meters[159]. Legal and Arbitration Matters - The company is currently involved in a significant arbitration case with a claim amount of approximately RMB 39 million related to a management contract dispute[175]. - The arbitration tribunal ruled that Shuncheng Company and Guangshi Anrong Company are jointly liable to pay Guangkong Anshi Management a total of RMB 20,780,400 for management fees, including brand usage fees and basic management fees, as of May 31, 2023[180]. - The total amount claimed by the plaintiff for economic losses is RMB 25 million, due to alleged collusion among defendants to inflate operational costs[179]. - The arbitration tribunal dismissed all counterclaims made by Shuncheng Company and Guangshi Anrong Company[180].