Occupancy Rates and Property Management - As of December 31, 2022, the total leasable area of the Xinji Shaxi Hotel Supplies Expo City is approximately 62,124.08 square meters, with an occupancy rate of 85.4%, down from 89.0% in 2021[16][26]. - The Xinji Haotai Hotel Supplies City recorded an occupancy rate of 85.7% in 2022, compared to 91.5% in 2021, with a total building area of approximately 72,636.09 square meters[17][28]. - The Shenyang Xinji Shaxi International Home Supplies Expo Center has a total building area of approximately 114,911.16 square meters and an occupancy rate of 100% as of December 31, 2022[32]. - The Shenyang Xinji Shaxi Hotel Supplies Expo City has an occupancy rate of 42.8% in 2022, down from 45.6% in 2021[8]. - Xinji Dashi Furniture City achieved a 100% occupancy rate in 2022, maintaining the same level as in 2021[30]. - The occupancy rate of the Shenyang Xinji Shaxi International Home Furnishing Expo Center was 79.9% in 2022, down from 90.0% in 2021[59]. - The total number of tenants across various malls includes 552 tenants in Xinji Shaxi Hotel Supplies Expo City, 70 in Shenyang Xinji Shaxi Hotel Supplies Expo City, and 184 in Shenyang Xinji Shaxi International Home Supplies Expo Center[26][29][32]. Financial Performance - For the year 2022, the company reported a revenue of RMB 298.4 million, an increase of RMB 1.0 million or 0.3% compared to RMB 297.4 million in 2021[62]. - The core profit for 2022 was approximately RMB 94.9 million, a decrease of RMB 0.7 million or 1% from RMB 95.6 million in 2021[62]. - Total assets as of December 31, 2022, amounted to RMB 2,831.2 million, down from RMB 3,160.1 million in 2021[39]. - Non-current assets were reported at RMB 2,444.4 million, a decrease from RMB 2,792.8 million in the previous year[39]. - Current liabilities stood at RMB 340.3 million, compared to RMB 317.4 million in 2021[39]. - The total liabilities of the company were RMB 1,415.4 million, slightly down from RMB 1,437.9 million in 2021[39]. - The company did not declare a final dividend for the year ended December 31, 2022, consistent with 2021[67]. - The net loss for the year was approximately RMB 167.4 million, down from RMB 205.6 million in 2021, representing a reduction of RMB 38.2 million or 19%[96]. Strategic Initiatives and Market Expansion - The company aims to provide a one-stop shopping experience for office and home supplies, targeting potential commercial and household customers in Northeast China[9]. - The company continues to focus on expanding its market presence and enhancing customer experience through strategic initiatives[9]. - The company aims to enhance brand influence and expand in international markets, striving to establish itself as a world-class brand[37]. - The company plans to allocate approximately 22.5% of the unutilized net proceeds, amounting to about RMB 30.0 million, to establish a vertical e-commerce service platform for the hotel supplies industry[46]. - The company aims to expand its online mall business and increase market share and brand influence through a vertical e-commerce service platform in the hotel supplies industry[144]. - The company plans to continue expanding its property services business, particularly through acquisitions of mature property service projects to enhance stable cash flow[144]. Employee and Operational Insights - Employee count increased by 35% to approximately 276 as of December 31, 2022, compared to 204 in 2021[83]. - Employee benefits expenses for 2022 amounted to approximately RMB 43.2 million, up from RMB 38.1 million in 2021[83]. - The company has sufficient cash and bank financing to support its general business operations[81]. - The company is closely monitoring foreign exchange risks, although it currently has no hedging policies in place[80]. Corporate Governance and Board Structure - The board consists of 9 members, maintaining a balanced composition of 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors[133]. - The company is committed to enhancing gender diversity on the board, currently having one female director, and aims to improve the female ratio in line with shareholder expectations and best practices[133]. - The company emphasizes the importance of a balanced power structure within the board to ensure effective decision-making and execution[132]. - The company has complied with the corporate governance code principles and provisions as per the listing rules, except for the provision that the roles of chairman and CEO should be separate[156]. - The board is responsible for the leadership and internal control of the company, overseeing business, strategic decisions, and performance[158]. - The company has appointed independent non-executive directors to ensure independent judgment and oversight of the board[163]. - The company has established three board committees: the audit committee, nomination committee, and remuneration committee, which operate according to their specific written terms of reference[176]. Future Outlook and Development Plans - The company anticipates that the unutilized net proceeds will be fully utilized by 2024 for new project developments[99]. - The group anticipates a stable business outlook for 2023, driven by the recovery from the pandemic and strategic adjustments in its business plans[117]. - The company plans to delay the use of unallocated net proceeds for new project development from 2023 to 2024 due to the lack of suitable new projects[75].
信基沙溪(03603) - 2022 - 年度财报