Awards and Recognition - The Group won the "Annual IPO with Most Brand Influence" award at the "Global Investor Carnival 2021" for its strong comprehensive strength and brand influence[16]. - The Group was recognized as the "ESG Leading Demonstration Enterprise in the Real Estate Industry in 2021" for its achievements in green construction and corporate governance[17]. - The Group received the title of "Most Stable Real Estate Company in China of 2021" due to its advantages in regional development and prudent investment[18]. - The Group was awarded "2021 Leading Enterprise in Brand Reputation of CNR" for its ability to break cycles and deep regional development efforts[22]. - The Group won two awards at the "2021 (4th) Leju Finance Annual Forum" for "Steady Operation Enterprise" and "Innovative Enterprise" in the real estate industry[23]. - The Group ranked among the "Top 10 Chinese Real Estate Development Enterprises in Fujian Province in 2021" according to a regional evaluation by Shanghai E-House Real Estate Research Institution[24]. Financial Performance - In 2021, the Group achieved revenue of approximately RMB11.25 billion, representing an increase of 6.3% compared to the previous year, with a gross profit margin of approximately 24.0%[43]. - The Group's net profit for 2021 was approximately RMB1.03 billion, reflecting an increase of 8% year-on-year, with net profit attributable to owners of the Company at approximately RMB726 million[43]. - For the year ended December 31, 2021, the Group's contracted sales reached approximately RMB50.58 billion, with an average sales price of RMB 10,255 per square meter[68]. - Revenue from property sales was approximately RMB10,653.1 million, an increase of 5.4%, contributing 94.7% of total revenue[118]. - The Group achieved rental income of approximately RMB91.1 million, a 61.5% increase compared to the previous year, mainly due to additional rent from commercial spaces in Nanning[115]. - Sales revenue from hotel operations was approximately RMB54.5 million, representing a 13.8% increase, attributed to improved performance of two hotels[116]. - Total revenue for the year ended December 31, 2021, was approximately RMB11,254.2 million, a 6.3% increase from RMB10,588.4 million in the previous year, driven by increased project deliveries[122]. - Gross profit for the year was approximately RMB2,699.2 million, a slight increase of 0.1% from RMB2,695.9 million, with a gross profit margin of 24.0% compared to 25.5% in the previous year[124]. Market Overview - The contracted sales of commercial housing in China for 2021 amounted to approximately RMB18.2 trillion, representing a year-on-year increase of 4.8%[41]. - The sales area of commercial housing in China was approximately 1.79 billion square meters in 2021, which is a year-on-year increase of 1.9%[41]. - The macroeconomic environment in 2021 saw China's GDP increase by 8.1% year-on-year, positioning it among the leading major economies globally[39]. - The real estate market in China showed resilience, with first- and second-tier cities experiencing active transactions and stable price increases[41]. - In 2021, the annual sales of commercial housing in China exceeded RMB18 trillion, indicating resilience in the real estate market despite significant challenges[59]. Land Acquisition and Development - The Group acquired land reserves totaling 6.08 million square meters during the reporting period, entering 3 new cities to expand its regional layout[45]. - As of December 31, 2021, the Group had a total of 146 real estate projects at different development stages, with a total gross floor area of approximately 23.71 million square meters[45]. - The Group acquired a total of 24 high-quality land parcels in 2021, with a total planned gross floor area (GFA) of 6.08 million sq.m[70]. - The Group's total GFA held for investment and development projects is approximately 22,826,738 square meters[109]. - The Group's land acquisition methods included public bidding, auctions, and joint ventures, reflecting a diversified approach to land procurement[70]. Strategic Initiatives - The Group aims to maintain at least two fulfillments of the "Three Red Lines" policy to optimize its liability structure and enhance capital utilization efficiency[64]. - The Group will continue to implement the strategy of "urban agglomeration layout" and focus on existing areas to consolidate its market position[50]. - The Group anticipates that proactive financial policies will be implemented in China to support stable economic development in 2022, despite potential global uncertainties[48]. - The Group's operational strategy includes improving cash flow management and enhancing the coordination of domestic and overseas funds[64]. - The Group plans to enhance its sales channels and seek strategic investors to ensure steady development and sustainable growth[53]. Project Completion and Delivery - The company reported a total of 95,227 units for the Chongqing Xiao Feng Jiang Nan project, with a completion year of 2023[81]. - The Guigang Dynasty Royalty project achieved a total of 191,686 units, with a completion year of 2022, reflecting a strong market presence[81]. - The Liuzhou Dynasty Mansion project is projected to complete in 2024 with 282,772 units, indicating a 51% completion rate[81]. - The Nanning Anji Dynasty Royalty Phase II project has a total of 59,710 units and is expected to complete in 2023, with a 55% completion rate[81]. - The Nanning Wuxiang Huguang Institution project is set to complete in 2024 with 328,390 units, showing a 20% completion rate[85]. - The Nanning Yango Dynasty Tanjing project is projected to complete in 2024 with 866,659 units, indicating a 41% completion rate[85]. - The company has a total of 376,204 units for the Jinjiu Royalty project, with a completion year of 2022, reflecting a 25% completion rate[85]. - The Nanning Shenghu Yuejing project has a total of 342,918 units, with a completion year of 2022, indicating a 26% completion rate[85]. - The Nanning Dynasty Tiancheng Phase III project has a total of 181,094 units, with a 100% completion rate expected in 2022[81]. Employee and Operational Insights - As of December 31, 2021, the Group had 2,709 employees, an increase from 2,592 employees in the previous year[176]. - Staff costs for the year ended December 31, 2021, amounted to RMB490.4 million, up from RMB425.4 million in 2020[176]. - The Group has established a comprehensive management system with over 3,000 quality checkpoints covering the full-cycle construction process[60]. Governance and Compliance - The Group has complied with all applicable code provisions set out in the Corporate Governance Code for the year ended 31 December 2021[186]. - The Company has adopted the Model Code for Securities Transactions by Directors, ensuring compliance by all Directors for the year ended December 31, 2021[189]. - The annual general meeting is proposed to be held on June 13, 2022, to discuss shareholder interests[187].
大唐集团控股(02117) - 2021 - 年度财报