Financial Performance - The group's total revenue for 2021 was approximately RMB 16.416 billion, an increase of 27.7% compared to RMB 12.858 billion in 2020[19] - The annual profit for 2021 was approximately RMB 1.997 billion, representing a growth of 56.3% from RMB 1.278 billion in 2020[19] - Profit attributable to equity holders of the company was approximately RMB 1.883 billion, up 75.1% from RMB 1.075 billion in 2020[19] - Basic and diluted earnings per share for 2021 were RMB 30.9, a 75.6% increase from RMB 17.6 in 2020[19] - Gross profit for 2021 was approximately RMB 4.9499 billion, up 31.3% from RMB 3.7707 billion in 2020[23] - Annual profit increased by 56.3% to approximately RMB 1.9969 billion in 2021 from RMB 1.2778 billion in 2020[23] Sales and Contracts - The total contracted sales for 2021 amounted to RMB 10.5 billion[10] - The company recorded a contract sales amount of approximately RMB 10.453 billion in 2021, with a total construction area of 1,364,786 square meters, compared to RMB 10.2223 billion and 1,294,767 square meters in 2020, representing a year-on-year increase of 2.26% in sales[31] Land and Development Strategy - The group reduced its land reserves by 1.9 million square meters in 2021 to improve liquidity[10] - The company’s land reserve decreased by 8.8% to approximately 19.8 million square meters as of December 31, 2021, from 21.7 million square meters in 2020, despite an increase in the number of projects from 130 to 136[43] - The group plans to focus on the Yangtze River Delta region, with Anhui and Jiangsu provinces accounting for 36.5% and 21.0% of the total building area, respectively[21] - The board remains cautious about the outlook for the Chinese real estate market due to tightening monetary policies and high leverage risks[11] - The group will prioritize the development of existing land reserves and adopt a more prudent approach to acquiring new land parcels in 2022[21] Construction and Project Development - The total construction area delivered in 2021 was approximately 2,088,938 square meters, a 29.2% increase from 1,616,834 square meters in 2020[24] - The total area of completed projects is 3.1 million square meters, while the area of projects under development is 12.9 million square meters, and future development projects account for 3.8 million square meters[44] - The company has completed approximately 90% of the construction for several projects, including the Jiangsu Zhenjiang project, which has a total construction area of 91,645 square meters[56] - The company is developing multiple commercial and residential projects, with significant areas such as the Huai'an Mingfa Commercial Plaza (Phase A) covering 213,225 square meters[56] - The overall construction completion rates for various projects range from 30% to 75%, showcasing a diverse portfolio of ongoing developments[66] Market Expansion and Strategy - The company aims to enhance its product offerings and technology development to meet market demands and improve competitiveness[34] - The company is actively pursuing mergers and acquisitions to strengthen its market position and expand its operational capabilities[34] - The company has a diverse portfolio with projects in various provinces, including Jiangsu, Anhui, and Guangdong, indicating a broad market expansion strategy[56] - The company is focusing on both residential and commercial developments, with projects like the Changsha Mingfa Commercial Plaza having a total construction area of 801,592 square meters[56] Property Sales and Revenue - The total sales revenue from the Nanjing Mingfa Yueshan Yuefu project in 2021 was RMB 1,601.3 million, compared to RMB 657.999 million in 2020[27] - The total sales revenue from the Zibo Mingfa World Trade Center project in 2021 was RMB 1,371.4 million, significantly up from RMB 5.775 million in 2020[27] - The total sales revenue from the Nanjing Mingfa International Business Center in 2021 was RMB 1,173.4 million, not applicable in 2020[27] Ongoing Projects and Completion Rates - The ongoing projects include a total of 1,061,860 square meters for the Wujiang Mingfa Jiangwan New City Phase II, which is expected to be completed by December 2022[56] - The company has reported that approximately 80% of the construction for the Huizhou Mingfa Gaobang New City has been completed, covering an area of 661,093 square meters[56] - The company is actively pursuing new strategies for market expansion, as evidenced by the ongoing development of the Taizhou Mingfa Garden Commercial Plaza (Phase I) with a total area of 170,714 square meters[56]
明发集团(00846) - 2021 - 年度财报