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佳兆业美好(02168) - 2021 Q4 - 年度财报
KAISA PROSPERKAISA PROSPER(HK:02168)2022-06-23 13:00

Financial Performance - The total revenue for the year ended December 31, 2021, was RMB 2,666,440 thousand, an increase of 42.8% compared to RMB 1,730,149 thousand in 2020[5] - Gross profit for the year was RMB 788,899 thousand, up 49.5% from RMB 527,639 thousand in the previous year[5] - Operating profit increased to RMB 392,746 thousand, representing a growth of 24.5% from RMB 315,442 thousand in 2020[5] - The net profit attributable to the owners of the company was RMB 56,806 thousand, a decrease of 74.3% compared to RMB 221,951 thousand in 2020[5] - Basic earnings per share decreased to RMB 0.37 from RMB 1.51 in the previous year, reflecting a decline of 75.5%[5] - The total profit attributable to the company's owners for 2021 was RMB 56,806,000, a decrease of 74.3% compared to RMB 221,951,000 in 2020[47] - The basic earnings per share for 2021 was RMB 0.37, down 75.5% from RMB 1.51 in 2020[47] - The diluted earnings per share for 2021 was RMB 0.36, a decline of 75.7% from RMB 1.48 in 2020[48] - Annual profit and total comprehensive income decreased from approximately RMB 229.5 million in 2020 to approximately RMB 68.1 million in 2021, a decline of about 70.3%[135] Revenue Breakdown - Property management services generated revenue of RMB 1,196,469,000 in 2021, up from RMB 793,776,000 in 2020, reflecting a growth of about 51%[25] - The community value-added services segment reported revenue of RMB 182,164,000 in 2021, an increase from RMB 135,308,000 in 2020, marking a growth of around 35%[25] - The smart solutions services segment generated revenue of RMB 215,660,000 in 2021, up from RMB 177,779,000 in 2020, reflecting a growth of approximately 21%[25] - Revenue from pre-delivery and consulting services was approximately RMB 1,072.1 million, accounting for 40.2% of total revenue, a 72.0% increase from RMB 623.3 million in 2020[104] - Revenue from properties developed by independent third-party developers was RMB 666,861 thousand, representing 55.7% of total revenue[102] Assets and Liabilities - Total assets as of December 31, 2021, were RMB 1,325,557 thousand, down from RMB 1,829,995 thousand in 2020[7] - Current liabilities increased to RMB 875,963 thousand from RMB 659,421 thousand in 2020, indicating a rise of 32.8%[7] - Non-current assets, including property, plant, and equipment, rose to RMB 25,131 thousand from RMB 18,888 thousand in 2020, an increase of 32.5%[7] - The total future cash outflow for leases as of December 31, 2021, was RMB 1,705,000 thousand, compared to RMB 442,000 thousand in 2020, reflecting a substantial rise of 285.1%[70] - The net current assets decreased from approximately RMB 1,170.6 million to RMB 449.6 million, with a current ratio of approximately 1.51 times as of December 31, 2021, down from 2.78 times in the previous year[139] Operational Highlights - The company has been focusing on expanding its property management services, including maintenance and community management[16] - The company aims to enhance its service levels and maintain customer satisfaction by adjusting the ratio of residential and non-residential portfolios, thereby expanding its diversified business layout[79] - The company has established a comprehensive service portfolio covering high-end communities, commercial complexes, and public services, focusing on key regions and sectors for development[80] - The company is preparing to meet future opportunities and challenges in the property management industry, aligning with the vision of "Service • Beautiful China"[75] - The company has committed to enhancing property management services and intelligent solutions, focusing on the Guangdong-Hong Kong-Macao Greater Bay Area and expanding into the Yangtze River Delta and Bohai Economic Circle[75] Market Expansion - The group has established property management services covering 58 cities across 17 provinces, with a total managed building area of 90.27 million square meters and managing 672 properties, including 300 residential communities and 372 non-residential properties[91] - The total contracted building area increased from 77.29 million square meters in 2020 to 126.89 million square meters in 2021, representing a growth of approximately 64%[91] - The group reported a strong market expansion momentum, with significant growth in the Yangtze River Delta region, where the managed building area increased from 27.54 million square meters in 2020 to 53.74 million square meters in 2021[93] - The total number of managed properties increased from 435 in 2020 to 672 in 2021, reflecting a growth of approximately 55%[91] Employee and Governance - The employee count increased to 12,871 as of December 31, 2021, up from 8,564 a year earlier, reflecting growth in operations[163] - The company maintained high standards of corporate governance, adhering to all provisions of the corporate governance code as of December 31, 2021, with the exception of the separation of roles between the Chairman and CEO[166] - The audit committee, consisting of three independent non-executive directors, reviewed the annual performance for the reporting year[172] Cash Flow and Financing - Cash and bank balances as of December 31, 2021, were approximately RMB 358.0 million, a decrease of approximately RMB 660.8 million from RMB 1,018.8 million as of December 31, 2020[139] - The company continues to manage its cash and cash equivalents prudently to ensure readiness for future growth opportunities[142] - The company raised approximately HKD 451.54 million from the placement of 14,000,000 shares at HKD 32.55 per share, netting HKD 32.21 per share after commissions and expenses[153] Challenges and Strategic Adjustments - The company faced significant challenges in 2021 due to the pandemic and market cooling, impacting operational independence and requiring strategic adjustments[73] - The company is focusing on ensuring market competitiveness to meet growth demands while navigating external uncertainties in the property service sector[73] - The company believes the property service industry is still in the early stages of rapid development and will gradually shift from management to service[86]