GREATTOWN(600094)2022-04-29 16:00Financial Performance - In 2021, the company reported a net loss attributable to shareholders of CNY 412,344,720.60, marking its first loss since listing[8]. - The company's operating revenue for 2021 was approximately ¥7.66 billion, a decrease of 48.36% compared to ¥14.84 billion in 2020[28]. - The net profit attributable to shareholders was a loss of approximately ¥412.34 million in 2021, a decline of 192.01% from a profit of ¥448.17 million in 2020[28]. - The basic earnings per share for 2021 was -¥0.1668, a decrease of 192.10% from ¥0.1811 in 2020[28]. - The weighted average return on equity decreased by 6.63 percentage points to -3.20% in 2021, compared to 3.43% in 2020[28]. - The company reported a quarterly operating revenue of approximately ¥2.36 billion in Q4 2021, with a net profit loss of approximately ¥621.83 million[31]. - The company's total revenue for the year was 7.661 billion yuan, a year-on-year decrease of 48.36%, and the net profit attributable to shareholders was -412 million yuan, a decline of 192.01%[39]. - The operating profit for the period was -306 million RMB, a significant decline of 140.67% year-on-year, primarily due to the impact of the pandemic and industry adjustments[70]. Cash Flow and Assets - The net cash flow from operating activities was approximately ¥6.53 billion, a significant improvement from a negative cash flow of ¥2.42 billion in 2020[28]. - The total assets increased by 5.60% to approximately ¥39.95 billion at the end of 2021, compared to ¥37.83 billion at the end of 2020[28]. - The company's net assets attributable to shareholders decreased by 4.09% to approximately ¥12.59 billion at the end of 2021, compared to ¥13.13 billion at the end of 2020[28]. - Cash and cash equivalents reached approximately ¥6.26 billion, accounting for 15.67% of total assets, a 166.18% increase from the previous period[86]. - The asset-liability ratio stood at 67.15%, while the net debt ratio was 20.47%, indicating a stable financial position[44]. Governance and Compliance - The company has maintained a consistent governance structure with all board members present at meetings[7]. - The audit report issued by Tianzhi International Accounting Firm was a standard unqualified opinion[7]. - The company has established a robust governance structure, ensuring compliance with legal requirements and maintaining independence from its controlling shareholder[116]. - The company has conducted 9 board meetings during the reporting period, focusing on financial audits and strategic decision-making[117]. - The company has not faced any penalties from securities regulatory authorities in the past three years[138]. Risk Management and Internal Controls - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[9]. - The company has established a robust internal control system that meets the requirements of the Ministry of Finance and the China Securities Regulatory Commission, ensuring effective financial reporting controls[163]. - The internal control audit conducted by Tianzhi Accounting Firm confirmed that the company maintained effective internal controls in all significant aspects for the year 2021[164]. - The company has not reported any significant internal control deficiencies during the reporting period, indicating a strong governance framework[165]. Strategic Focus and Market Position - The company plans to continue focusing on high-quality product offerings and enhancing brand competitiveness in response to market demands[49]. - The company aims to transition from a heavy asset operation model to a mixed model of light and heavy assets[54]. - The company is focusing on exploring new development models in response to the real estate market's adjustment phase[105]. - The company aims to strengthen its operational capabilities while solidifying its core development business to adapt to market changes[105]. - The company aims to focus on first and second-tier cities, emphasizing the expansion of projects in the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area[106]. Employee Management and Compensation - The company has established a comprehensive salary and incentive system to attract and retain talent, focusing on performance efficiency[153]. - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to 16.09 million yuan[141]. - A training plan has been implemented to enhance employee skills and capabilities through various professional training programs[154]. - The employee stock ownership plan was extended for an additional 12 months until February 12, 2023, with 31,875,600 shares held, accounting for 1.29% of the total share capital[160]. Litigation and Financial Obligations - The company is involved in significant litigation, including a case where it is required to pay 354.53 million RMB and overdue penalties to China Construction Seventh Engineering Division[181]. - In another case, the company is ordered to pay 200 million RMB in principal and corresponding interest to China Construction Seventh Engineering Division, with the company bearing joint liability[181]. - The company has ongoing litigation related to a 2016 equity transfer agreement, which is still under review[181]. - The total guarantee amount at the end of the reporting period is 57.69 billion RMB, which accounts for 43.96% of the company's net assets[197]. Financial Strategy and Investments - The company has maintained a stable management structure with no changes in key personnel during the reporting period[126]. - The company plans to purchase low-risk short-term structured deposit financial products as part of its financial strategy[121]. - The company has a structured approach to managing guarantees, ensuring compliance with financial regulations[198]. - The company has effectively managed its subsidiaries by enhancing decision-making processes, performance assessments, and financial supervision[173].