Financial Performance - The company reported total revenue of RMB 130,386,000 for the year ended December 31, 2021, a decrease of 52.7% compared to RMB 275,541,000 in 2020[3]. - The cost of sales was RMB 197,481,000, resulting in a gross loss of RMB 67,095,000, compared to a gross profit of RMB 49,004,000 in the previous year[3]. - The net loss for the year was RMB 200,678,000, significantly higher than the net loss of RMB 7,211,000 in 2020, marking a year-on-year increase of 2,684%[4]. - Basic and diluted loss per share was RMB 75.78, compared to RMB 4.26 in the previous year[4]. - The total comprehensive loss for the year was RMB 210,487,000, compared to RMB 5,532,000 in 2020[6]. - The company reported a net loss attributable to shareholders of RMB 192,826,000 for 2021, compared to a loss of RMB 7,775,000 in 2020, reflecting a substantial increase in losses[46]. - The group recorded a gross loss of approximately RMB 67,000,000, compared to a gross profit of RMB 49,000,000 in 2020[54]. - The group reported a loss attributable to shareholders of approximately RMB 192,826,000, significantly higher than the loss of RMB 7,775,000 in 2020[63]. Assets and Liabilities - The company reported total assets of RMB 911,835,000 as of December 31, 2021, down from RMB 1,005,091,000 in 2020[8]. - Non-current assets decreased to RMB 21,908,000 from RMB 91,380,000 in the previous year, reflecting a decline of 76.0%[8]. - Current assets included properties under construction valued at RMB 364,624,000, an increase from RMB 253,395,000 in 2020, representing a growth of 43.9%[8]. - The company's equity attributable to owners decreased to RMB 482,833,000 from RMB 685,468,000 in the previous year, a decline of 29.5%[10]. - The company's financial liabilities include secured bank loans of RMB 9,150,000 and bank overdrafts of RMB 4,039,000, which are subject to interest rate benchmark reforms[22]. - The group's cash and bank balances as of December 31, 2021, were approximately RMB 40,405,000, down from RMB 77,848,000 in 2020[64]. - The group’s asset-liability ratio was approximately 3% as of December 31, 2021, unchanged from 2020[64]. Revenue Breakdown - Revenue from property sales in mainland China was RMB 128,959,000, down from RMB 246,450,000 in the previous year, indicating a decline of 47.7%[23]. - The company’s total revenue from customer contracts was RMB 128,959,000, with no revenue from raw sugar trading in Hong Kong during the year[23]. - The property development and investment segment reported a loss of RMB 203,745,000, while the raw sugar trading segment generated a profit of RMB 1,633,000, leading to a total loss of RMB 202,112,000[31]. - The property development and investment segment generated revenue of approximately RMB 130,386,000, with property sales accounting for about RMB 128,959,000 and rental income approximately RMB 1,427,000[54]. Impairments and Expenses - The company recognized an impairment loss of RMB 91,590,000 on assets held for sale during the year[3]. - The fair value change of investment properties resulted in a loss of RMB 36,401,000 in 2021, compared to a loss of RMB 10,518,000 in 2020, indicating a worsening performance in this area[37]. - The company recorded a deferred tax expense of RMB 29,765,000 for the year ended December 31, 2021, compared to RMB 6,375,000 in 2020, reflecting increased tax liabilities[39]. - Total compensation for the year was approximately RMB 16,583,000, up from RMB 15,199,000 in 2020, reflecting the company's compensation policy based on market trends and employee performance[71]. Corporate Governance and Compliance - The company has complied with all corporate governance codes except for deviations related to the roles of the chairman and CEO[77]. - The audit committee has reviewed the unaudited annual results, which were affected by delays due to the COVID-19 pandemic[82]. - The unaudited annual results will be published after the completion of the audit process, along with any significant differences from the audited results[84]. - The annual report will be sent to shareholders as soon as practicable and will also be available on the company's website[85]. Future Plans and Developments - The second Maoming project is planned to have a total saleable area of 84,000 square meters, including 59,000 square meters for residential and 25,000 square meters for commercial use[58]. - The pre-sale of residential properties for the second Maoming project is scheduled to begin in the second quarter of 2022[58]. - The group plans to increase sales and marketing expenses by approximately RMB 7,300,000 to promote the second Maoming project[54]. - There were no significant investments, acquisitions, or plans for major capital asset purchases during the year[73].
中国上城(02330) - 2021 Q4 - 年度财报