D.L.real estate(SH:600159)2021-04-15 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 105,037,603.26 in 2020, representing a 3.84% increase compared to RMB 101,155,495.12 in 2019[5]. - Total operating revenue for 2020 was RMB 987,136,508.10, an increase of 8.15% from RMB 912,731,922.51 in 2019[21]. - The net cash flow from operating activities was RMB 480,008,618.55, a decrease of 8.27% compared to RMB 523,308,368.72 in 2019[21]. - Basic earnings per share for 2020 were RMB 0.12655, up 3.84% from RMB 0.12187 in 2019[22]. - The company reported a significant increase in other income, which rose to 33.68 million yuan from 5.03 million yuan in the previous year, marking a 570.16% increase[38]. - The company reported a net profit of 113,819,100.02 RMB for its main subsidiary, Beijing Dalong Real Estate Development Co., Ltd.[82]. - The company reported a total comprehensive income of CNY 45,235,351.33 for 2020, contrasting with a total comprehensive loss of CNY 1,548,869.16 in 2019[198]. Assets and Liabilities - The company's total assets at the end of 2020 were RMB 4,373,778,900.14, a decrease of 2.14% from RMB 4,469,455,817.55 at the end of 2019[21]. - The total liabilities were 1.914 billion yuan, down 1.58 billion yuan from the beginning of the year[35]. - The asset-liability ratio was 43.77%, a decrease of 2.58 percentage points compared to the beginning of the year[35]. - The company’s cash and cash equivalents decreased by 15.74% to CNY 812,668,771.88[48]. - Accounts receivable decreased by 12.91% to CNY 236,936,537.12, indicating improved cash collection[48]. - The company reported a total of 849,638.16 RMB in related party transactions, with the largest transaction amounting to 746,514.64 RMB, representing 0.13% of the market reference price[101]. Revenue Streams - The company sold 67,200 square meters of real estate, generating sales revenue of 1.006 billion yuan, with a revenue recognition amount of 601 million yuan[34]. - Revenue from real estate development was CNY 600,968,278.95, with a gross margin of 50.78%, showing a year-on-year revenue decrease of 9.22%[41]. - The construction segment reported revenue of CNY 372,394,523.57, with a gross margin of 4.18%, reflecting a year-on-year revenue increase of 57.33%[41]. - Dalong Real Estate's total revenue for 2020 was CNY 987.14 million, with real estate development sales accounting for CNY 600.97 million, representing 60.88% of total revenue[167]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.5 per 10 shares, totaling RMB 41,500,161.60[5]. - The company distributed a cash dividend of 0.5 RMB per 10 shares, totaling 41,500,161.60 RMB for the year 2019, with a payout ratio of 39.51% of the net profit attributable to ordinary shareholders[89]. - The company has not proposed any new cash profit distribution plans despite having positive distributable profits for ordinary shareholders during the reporting period[92]. Project Development and Construction - The company has outlined potential risks in its future development plans, emphasizing the importance of investor awareness regarding investment risks[6]. - The company has 23 unfinished projects with a total contract amount of RMB 1.558 billion[53]. - The company has ongoing major projects with a total amount of 155,860.86 million RMB[75]. - The company completed 33 projects during the reporting period, with a total amount of 1,403.88 million RMB for housing construction[71]. Management and Governance - The company has implemented a competitive compensation system that considers position, education, and work experience[145]. - The company has established a performance evaluation and incentive mechanism for senior management[151]. - The company has a structured decision-making process for determining the remuneration of its directors and senior management, which is reviewed by the shareholders' meeting[139]. - The company has seen a change in its supervisory board, with the former chairperson Yu Youqing retiring and Huang Haiming taking over[134]. Compliance and Risk Management - The company has maintained compliance with the Shanghai Stock Exchange's regulations regarding related party transactions[100]. - The internal control audit was conducted by Beijing Xinghua Accounting Firm, with a remuneration of 20 million RMB[96]. - The company has not faced any risks of suspension or termination of listing during the reporting period[96]. - The company has committed to ensuring that its projects are completed on schedule despite uncertainties related to the COVID-19 pandemic, while also conducting more prudent evaluations of project financing[87]. Future Outlook - The company plans to focus on project construction, enhancing management, and accelerating sales to improve cash flow[85]. - The company anticipates that the real estate market will remain stable in 2021, with increased competition and industry consolidation[84]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[186].