Financial Performance - Revenue for the year ended December 31, 2021, was RMB 20,396,008, representing a 63.8% increase from RMB 12,451,999 in 2020[2] - Gross profit increased by 69.3% to RMB 4,762,808 in 2021, compared to RMB 2,812,657 in 2020[2] - Profit before income tax rose by 81.4% to RMB 3,856,890, up from RMB 2,126,311 in the previous year[2] - Profit for the year was RMB 2,514,517, a 74.3% increase from RMB 1,442,811 in 2020[2] - Total assets increased by 3.9% to RMB 89,306,972, compared to RMB 85,974,178 in 2020[2] - Cash and cash equivalents decreased by 21.9% to RMB 7,534,181 from RMB 9,649,423 in 2020[2] - Total bank and other borrowings decreased by 3.3% to RMB 19,443,836, down from RMB 20,111,354 in 2020[2] - Basic and diluted earnings per share attributable to owners decreased by 31.8% to RMB 24.89 from RMB 36.49 in 2020[2] Awards and Recognition - The Group was awarded the "Valuable Real Estate Listed Company of the Year 2021" and received multiple awards for its projects, including "Best Pre-sale Project" and "Best Villa Space" in the 16th Kinpan Award[34][31][30] - The Group's project Rivera Mansion in Nanchang achieved the highest sales amount in Qingshanhu District in 2021, winning several accolades including "2021 Nanchang Model Real Estate" and "2021 Nanchang Hot Real Estate" awards[49] - Mount Yuelan in Quanzhou was sold out upon launch, achieving five sales rounds and winning multiple awards such as "Best Pre-sale Real Estate" in the Fushen Division of the 15th Kinpan Award[53] - The Group ranked Top 3 in "2021 Top 10 China Real Estate Wellness Architecture Products" and received recognition for its healthy building projects[44][37] - The Group received the "Best Brand Value Award of the Year," reflecting its strong market position and brand recognition[45] Strategic Initiatives - The Group launched a full-cycle customer service system called "Wholehearted Service" in February 2021[12] - The Group successfully issued its first Chinese-funded "Sustainable Development Dim Sum Bond" in June 2021[23] - The Group successfully issued the first "Sustainable Development Bond" in China, indicating a commitment to sustainable finance[27] - The Group updated its New Oriental Wellness Architecture (NOWA) product system to version 3.0, focusing on healthy housing[94] - The Group aims to enhance the product quality of New Oriental Wellness Architecture (NOWA) and the service quality of the "healthcare dual butler" system[106] Market Performance - In 2021, the Group recorded property contract sales amount of approximately RMB 47,011 million, representing a year-on-year increase of 14.7%[89] - The contract sales area was approximately 5.36 million sq.m., reflecting a year-on-year increase of 12.6%[89] - The Group's project Qianxihui Square in Jinan officially opened for business, expanding its market presence[39] - Violet Mist Land project has achieved significant sales volume, ranking among the top in Tongzhou urban area since its launch in July 2021[56] - Qianxihui Square in Putian covers approximately 500,000 m², including a 54,000 m² commercial shopping center and a 390,000 m² residential community, winning multiple awards in 2021[59] Corporate Governance - The Company is committed to enhancing its corporate governance through the involvement of independent directors[125] - The Group has adopted the Corporate Governance Code to govern its practices and has complied with its provisions during the review period ending December 31, 2021[156] - The Board currently consists of seven Directors, including four executive Directors and three independent non-executive Directors[159] - The independent non-executive directors represent more than one third of the Board, ensuring adequate checks and balances[175] - The Company plans to provide briefings and training to enhance directors' knowledge and skills[178] Leadership and Management - The Group has a strong leadership team with extensive experience in the real estate industry[117] - Mr. Tang has over 25 years of experience in the real estate industry in the PRC, overseeing various projects and daily operations[122] - Dr. Tam has extensive experience in investment and management, having incorporated and invested in various companies in Hong Kong and the PRC since 1991[128] - The Group's management team includes experienced professionals with backgrounds in finance, investment, and real estate management[140][141][142] - The management team is committed to corporate governance and compliance, ensuring transparency and accountability[134][141] Future Outlook - The Group anticipates a recovery in sales and market confidence due to improving macro-control policies[102] - The Group acknowledges the challenges of 2022 but aims to achieve steady and quality sustainable development[107] - The Group will adapt to new policies and market conditions in response to industry changes[104] - The Group's strategic focus will be on creating maximum value for shareholders and stakeholders[108]
力高集团(01622) - 2021 - 年度财报