Company Overview - Changsha Broad Homes Industrial Group Co., Ltd. is a pioneer in the construction industrialization sector in China, providing comprehensive solutions for modern construction with advanced technology and continuous innovation[3]. - The company was officially listed on the Hong Kong Stock Exchange on November 6, 2019, under the stock code 2163[5]. - The company’s main operational locations include Changsha, Hunan Province, and Hong Kong[9]. Partnerships and Market Position - The company has established partnerships with 9 out of the top 10 real estate developers and construction companies in China, supplying PC components and technical services for various significant projects[4]. - The company plans to expand its market presence in Southeast Asia, aiming for a 25% increase in market share by 2023[42]. Financial Performance - The company reported a revenue of RMB 1.5 billion for the fiscal year ending December 31, 2021, representing a year-over-year increase of 15%[42]. - Total revenue for the year ended December 31, 2021, was RMB 3,058.6 million, an increase of 17.0% from RMB 2,613.9 million in 2020[50]. - The company’s total assets increased to RMB 9,863.0 million from RMB 9,191.2 million in 2020, reflecting a growth of 7.3%[51]. - Cash generated from operating activities surged by 344.0% to RMB 807.3 million, compared to RMB 181.8 million in the previous year[57]. - The company’s investment relations can be contacted via ir@bhome.com.cn[9]. Revenue Breakdown - Revenue from the PC component manufacturing business increased by 11.4% to RMB 2,694.5 million from RMB 2,419.2 million in 2020[56]. - Revenue from ongoing operations reached RMB 3,058.6 million for the year ended December 31, 2021, representing a 21.8% increase year-over-year[66]. - Revenue from PC production equipment manufacturing surged by 207.4% from RMB 91.8 million in 2020 to RMB 282.1 million in 2021[75]. Profitability and Margins - Gross profit decreased to RMB 855.2 million, down 6.3% from RMB 912.3 million in the previous year, with a gross margin of 28.0%[56]. - The gross margin improved to 35%, up from 30% in the previous year, due to cost optimization strategies[42]. - The net profit attributable to shareholders was RMB 31.5 million, a decline of 85.6% compared to RMB 219.3 million in the prior year[57]. Operational Efficiency - The production volume of PC components increased by 28.7% to 1.026 million cubic meters for the year ended December 31, 2021, compared to 0.797 million cubic meters the previous year[64]. - The production line utilization rate increased from 37.8% in 2020 to 54.3% in 2021, attributed to increased contract amounts and reduced pandemic impacts[64]. Research and Development - The company is investing RMB 50 million in research and development for innovative construction technologies[42]. - R&D expenses increased by 5.0% to RMB 189.8 million for the year ended December 31, 2021, with capitalized R&D costs accounting for 32.9% of total R&D expenses[128]. Strategic Initiatives - The company aims to transform traditional construction practices into a modern manufacturing industry through the integration of digital technologies and the construction industrial Internet of Things[3]. - The company is actively exploring zero-carbon buildings and smart energy systems to align with carbon neutrality goals[89]. - The company aims to enhance the quality of green low-carbon development in urban and rural construction, responding to national carbon reduction targets[90]. Leadership - Zhang Jian, the founder and executive director, has been with the company since its establishment in April 2006, overseeing strategic and operational decisions[195]. - Tang Fen, the executive director and general manager, has been with the group since August 2006, responsible for overall management and operations[200].
远大住工(02163) - 2021 - 年度财报