Financial Performance - For the year ended December 31, 2021, the Group recorded total revenue of approximately RMB2,927.6 million, a decrease of approximately 9.2% compared to the previous year[11]. - The gross profit for the reporting period was approximately RMB814.5 million, representing a decrease of approximately 28.6% compared to the previous year[11]. - Profit attributable to the owners of the Company for the reporting period amounted to approximately RMB169.7 million, a decrease of approximately 59.6% compared to the previous year[11]. - Basic earnings per share were RMB3.34 cents, down from RMB8.27 cents in 2020[11]. - Total revenue for the reporting period was approximately RMB2,927.6 million, representing a decrease of approximately 9.2% compared to RMB3,225.1 million for the year ended 31 December 2020[23]. - Gross profit for the reporting period was approximately RMB814.5 million, representing a decrease of approximately 28.6% compared to RMB1,140.9 million for the year ended 31 December 2020[23]. - Profit for the reporting period was approximately RMB205.4 million, representing a decrease of approximately 62.0% compared to RMB540.9 million for the year ended 31 December 2020[23]. - Revenue from property sales contributed approximately 94.5% of total revenue, amounting to RMB2,767.7 million, down from RMB3,096.8 million in 2020, indicating a decrease of approximately 10.6%[110]. - Property investment revenue increased to RMB159.9 million, up from RMB128.3 million in 2020, reflecting a growth of approximately 24.6%[108]. Sales and Development - Contracted property sales for the reporting period were approximately RMB5,473.7 million, with a contracted gross floor area of approximately 487,388 square meters, representing increases of 22.5% in contracted sales and 16.5% in contracted GFA compared to the previous year[11]. - Contracted sales amount for the reporting period was approximately RMB5,473.7 million, representing an increase of approximately 22.5% compared to RMB4,466.8 million for the year ended 31 December 2020[23]. - Contracted gross floor area (GFA) was approximately 487,388 square meters for the reporting period, representing an increase of approximately 16.5% compared to 418,359 square meters for the year ended 31 December 2020[23]. - The increase in contracted sales was mainly contributed by new projects launched for pre-sales during the reporting period[25]. - The Group had 19 property projects under development as of 31 December 2021, focusing on residential and commercial complex properties[25]. - The Group primarily focuses on the development of residential properties, including apartments, offices, retail shops, and villas[25]. - The total saleable GFA for ongoing projects is 1,734,374 square meters, with 1,400,191 square meters already delivered[50]. - The Group's future development plans include properties with a total planned GFA of 2,312,525 square meters[50]. Investment Properties - Rental income and property management income for the reporting period amounted to approximately RMB159.9 million, an increase from RMB128.3 million in 2020[96]. - The Group's investment properties include hotels, kindergartens, and commercial premises, providing a stable income stream[97]. - The Group's investment properties in China were valued at approximately RMB10,564.7 million, an increase from approximately RMB8,681.4 million as of December 31, 2020, reflecting a growth of about 21.7%[143][146]. - The Group recognized a net fair value gain of approximately RMB9.5 million on investment properties, down from RMB18.2 million in 2020[117]. Financial Position and Ratios - As of December 31, 2021, the Group's bank and other borrowings amounted to approximately RMB8,205.2 million, down from RMB8,429.9 million in 2020[125]. - The Group's gearing ratio improved to approximately 175.5% in 2021 from 181.2% in 2020, with net debts of approximately RMB8,958.5 million and total equity of approximately RMB5,105.7 million[125]. - The current ratio remained stable at approximately 122.6% as of December 31, 2021, consistent with the previous year[125]. - The total liabilities to total assets ratio was approximately 83.0% in 2021, compared to 81.9% in 2020[125]. - The Group's cash and cash equivalents decreased to approximately RMB592.9 million in 2021 from RMB838.0 million in 2020[122]. Corporate Governance - The Group has complied with the Corporate Governance Code except for specific deviations regarding board meeting frequency and role segregation[153][154]. - The Board comprises 6 Directors, including 3 executive Directors and 3 independent non-executive Directors, complying with Listing Rules regarding independence[160]. - The Company has adopted the Model Code for Securities Transactions by Directors, and all Directors confirmed compliance during the reporting period[164]. - The Company has established three Board committees: the Audit Committee, the Nomination Committee, and the Remuneration Committee, each with specific roles and responsibilities[166]. - The Company has established a Board Diversity Policy to enhance performance quality through diverse Board composition[188]. Employee Information - Total employee remuneration for the reporting period amounted to approximately RMB176.4 million, an increase from approximately RMB144.9 million in 2020[139]. - The group employed a total of 490 employees as of December 31, 2021, down from 658 employees in the previous year[139]. Future Outlook - The management is optimistic about the long-term prospects of the PRC property market and will actively seek investment opportunities in the real estate sector[14]. - The Group plans to actively seek and acquire quality land parcels to expand its market share in the PRC real estate market, leveraging recent interest rate cuts by the People's Bank of China[104]. - The Group's financial outlook remains positive, with confidence in future economic development in China despite existing challenges[104].
中国三迪(00910) - 2021 - 年度财报