Business Overview - The Group's major businesses include property development, commercial management, property management, and long-term rental apartments, with projects distributed across 63 cities[7]. - The Group's product offerings include high-rise residential buildings, offices, shopping malls, and long-term rental apartments[7]. - The Group's headquarters is located in Shanghai, implementing a regionally focused development strategy in key economic zones[7]. - China SCE aims to deepen its strategic plan of "One Body Two Wings" to secure a regional leading position through proactive and prudent development strategies[7]. - The Company reported a focus on creating smart living solutions to enhance customer happiness as part of its mission[7]. Financial Performance - For the year ended December 31, 2021, the Group recorded a revenue of approximately RMB 37.737 billion, representing an increase of approximately 15.9% compared to the previous year[36]. - Profit attributable to owners of the parent amounted to approximately RMB 3.070 billion, reflecting a decrease of approximately 19.3% year-over-year[36]. - The Group's contracted sales amounts reached approximately RMB 104.531 billion, with a contracted sales area of approximately 7.47 million sq.m., representing increases of approximately 2.9% and 1.4% respectively compared to last year[37]. - The final dividend declared was HK 6 cents per ordinary share, totaling approximately HK$ 253 million, with a full-year dividend payout ratio of 20.2% of the core profit attributable to owners of the parent[37]. - Total assets as of December 31, 2021, were RMB 195.013 billion, an increase from RMB 170.614 billion in 2020[28]. - Total liabilities increased to RMB 152.306 billion in 2021 from RMB 131.462 billion in 2020[28]. - Cash and bank balances were RMB 20.006 billion, while total debts amounted to RMB 50.198 billion[28]. Sales and Market Performance - The Group launched 37 new projects during the year, with over 150 projects available for sales across 61 cities[45]. - The top six cities with the highest contracted sales accounted for approximately 52.3% of the Group's total contracted sales[45]. - The Group's sales strategy focused on cash flow management and enhancing the return rate through improved customer qualification and timely mortgage processing[38]. - The Group's contracted sales in Xiamen, Fuzhou, Suzhou, and Kunming reached approximately RMB 18.232 billion, RMB 7.808 billion, RMB 6.940 billion, and RMB 7.689 billion respectively, contributing significantly to overall sales performance[103]. - Contracted sales in Beijing and Quanzhou amounted to approximately RMB 6.900 billion and RMB 7.157 billion, accounting for about 6.6% and 6.8% of total contracted sales respectively[103]. - The total contracted sales area reached approximately 7.47 million sq.m., with a year-on-year increase of 1.4%[86]. Investment and Land Bank - As of December 31, 2021, the Group owned a land bank with an aggregate planned gross floor area of approximately 38.23 million square meters, sufficient for development over the next two to three years[7]. - The average land cost for new acquisitions was approximately RMB 5,331 per sq.m., with attributable land costs amounting to approximately RMB 23.035 billion[46]. - The Group's investment properties included 51 properties with a total gross floor area of 3.61 million sq.m.[105]. - The Group's recognized property sales income by region showed that the West Taiwan Strait Economic Zone accounted for 43.1% of total sales income[118]. Financing and Debt Management - The average cost of financing in 2021 was 6.4%, showing a slight decrease compared to the previous year[62]. - The Group maintained a coverage ratio of unrestricted cash to short-term debt at 1.0 time, indicating strong liquidity, while the gearing ratio was 67.3%[62]. - The financing environment in 2021 was complex, with some real estate enterprises defaulting on overseas senior notes, but the Company maintained a "Stable" outlook from major rating agencies[50]. - The net gearing ratio was approximately 70.7%, an increase from 59.2% on December 31, 2020[199]. Operational Efficiency and Future Plans - The company plans to enhance operational efficiency and competitiveness through investments in big data, the Internet, and customer relationship management systems[65]. - The company aims to build a resilient talent system by concentrating on the training of core management staff and optimizing the management incentive mechanism[71]. - The Group's strategy focuses on resilient growth through the "One Body Two Wings" approach, emphasizing investments in first- and second-tier cities[64].
中骏集团控股(01966) - 2021 - 年度财报