Financial Performance - In the 2021 Financial Year, the Group reported a revenue of RMB 46,075,000, an increase of approximately 5.96 times compared to RMB 6,624,000 in the 2020 Corresponding Period[12] - The Group's revenue for the 2021 Financial Year amounted to RMB 47,022,000, representing a significant increase of approximately 570.98% compared to RMB 7,008,000 in the 2020 Corresponding Period[33] - Rental income for the 2021 Financial Year was RMB 947,000, an increase of approximately 146.61% from RMB 384,000 in the 2020 Corresponding Period[34] - The Group completed the acceptance and delivery of infrastructure projects, recording revenue of RMB 46,075,000 for the 2021 Financial Year, compared to RMB 6,624,000 in the 2020 Corresponding Period[34] - Loss before tax for the Group was RMB 27,621,000, an improvement from a loss of RMB 37,882,000 in the 2020 Corresponding Period[35] - The Group reported a pre-tax loss of RMB 27,621,000 for the 2021 financial year, an improvement from a loss of RMB 37,882,000 in the same period of 2020[38] - Income tax expenses decreased by approximately 93.75% to RMB 6,000 in 2021 from RMB 96,000 in 2020, primarily due to reduced profits from Beijing Yufeng Chengyou[43] - Basic loss per share attributable to owners was approximately RMB 1.60 cents in 2021, a decrease of about 40.74% compared to RMB 2.70 cents in 2020[45] Business Strategy and Operations - The Group disposed of 90% equity interests in Chaozhou Jiafu and Guangdong Xinmao, which were expected to be less profitable, to focus on the construction of the Shennongjia Hotel project[13] - The Group plans to focus on steady development and explore potential infrastructure projects while integrating resources for property project profitability[29] - The property investment business is expanding, with projects distributed in Beijing, Guangzhou, and Sanhe, contributing to increasing rental income[19] - The Group did not acquire any new properties in 2021, focusing instead on existing projects and addressing property rights issues[23] - The Group aims to enhance market competitiveness and explore diversified investment opportunities moving forward[29] - The Group's business model focuses on acquiring properties for sale and leasing, aiming to recognize revenue through price differences and rental income[62] - The Group will continue to integrate resources to promote the construction and operation of various property projects to achieve profitability as soon as possible[64] Challenges and Risks - The Group faced challenges due to the ongoing Covid-19 pandemic and domestic real estate control policies, impacting its property investment business[11] - The settlement of the main project was delayed due to disagreements on review data, with efforts to complete the settlement in 2022[12] - Impairment losses under the expected credit loss model amounted to approximately RMB 5,344,000, primarily due to issues related to the disposal of equity interests[36] - The construction progress of the Beijing Property has been slower than planned, with completion now estimated on or before December 31, 2022[41] - The completion date for the Beijing Property has been postponed to 31 December 2022 due to the impact of the pandemic and other significant events[75] Financial Position - The Group's total assets as of December 31, 2021, amounted to RMB 883,277,000, a decrease of 1.7% from RMB 898,130,000 in 2020[70] - The Group's net current assets as of December 31, 2021, were approximately RMB 224,576,000, up from RMB 171,005,000 in 2020[70] - The current ratio improved to 2.0 times in 2021 from 1.8 times in 2020, indicating better liquidity management[70] - The Group has no bank borrowings as of December 31, 2021, maintaining a gearing ratio of 0.26 times, slightly up from 0.24 times in 2020[70] - The total capital commitments of the Group amounted to RMB59,721,000 as of December 31, 2021, compared to RMB28,273,000 in 2020, reflecting a 111% increase[128] Corporate Governance and Management - The consolidated financial statements for the 2021 Financial Year were audited by Asian Alliance (HK) CPA Limited, reflecting the Group's operating results and financial position accurately[173] - The Supervisory Committee confirmed that the Directors and senior management acted in the best interest of the Company without any abuse of power[171] - The company has a diverse board with members holding qualifications in accounting, finance, and engineering, enhancing its governance and strategic direction[137] - The board's composition reflects a balance of executive and independent non-executive directors, ensuring effective oversight and decision-making[140] - The company aims to leverage its management's extensive experience to drive growth and innovation in its operations[139] Shareholder Information - Major shareholders include Beijing Hua Xia Ding and Huang Guang Fu, each holding 420,000,000 domestic shares, representing 28.58% of total issued share capital[188] - Beijing Lichuang Future and Zhai Ming Yue each hold 180,000,000 domestic shares, accounting for 12.25% of total issued share capital[188] - Shenzhen Wan Zhong Run Long and Zhang Song each own 140,000,000 domestic shares, which is 9.53% of total issued share capital[188] - HKSCC Nominees Limited holds 605,376,000 H-Shares, representing 41.2% of total issued share capital[188] - All independent non-executive Directors confirmed their independence in accordance with Listing Rules[179] Social Responsibility and Compliance - The Group emphasizes environmental protection as critical for long-term development, focusing on waste reduction and efficiency maximization[196] - The Group ensures reasonable remuneration for all staff and regularly reviews employment policies related to remuneration and benefits[196] - The Group maintains strong relationships with customers and suppliers, conducting regular reviews of customer requirements and supplier performance[196] - The Group is committed to compliance with regulatory requirements and continuously reviews new laws affecting its operations, with no known material non-compliance issues[196]
沈阳公用发展股份(00747) - 2021 - 年度财报