TJRD(SH:600322)2021-12-06 16:00Financial Performance - The company's operating revenue for 2020 was approximately ¥2.75 billion, a decrease of 71.22% compared to ¥9.56 billion in 2019[20] - The net profit attributable to shareholders for 2020 was a loss of approximately ¥2.52 billion, a decline of 1,878.06% from a profit of ¥141.57 million in 2019[20] - The basic earnings per share for 2020 was -¥2.2766, a significant drop from ¥0.1280 in 2019[21] - The weighted average return on equity for 2020 was -74.09%, a decrease of 77.18 percentage points from 3.09% in 2019[21] - The company plans not to distribute cash dividends or issue bonus shares for the 2020 fiscal year due to the operating loss[5] - The company achieved a total sales amount of RMB 5.546 billion and a sales area of 242,500 square meters during the reporting period[68] - The company reported a total revenue of 31,730 million with a net profit margin of 19.44% for the fiscal year 2020[140] Cash Flow and Assets - The cash flow from operating activities increased by 255.33% to approximately ¥3.37 billion in 2020, compared to ¥949.44 million in 2019[20] - The total assets at the end of 2020 were approximately ¥22.94 billion, down 10.30% from ¥25.58 billion at the end of 2019[20] - The net assets attributable to shareholders decreased by 54.07% to approximately ¥2.14 billion at the end of 2020, compared to ¥4.66 billion at the end of 2019[20] - Cash and cash equivalents increased by 43.95% to ¥834,152,366.22, attributed to higher cash receipts from property sales[63] - The company's inventory value was CNY 18.3757 billion, accounting for 80.09% of total assets, with an impairment provision of CNY 4.1214 billion[186] - The total current liabilities stood at CNY 14.69 billion, slightly down from CNY 15.12 billion, indicating a decrease of about 2.83%[198] Real Estate Development - The company continues to focus on real estate development and sales as its core business, with no significant changes in its business model during the reporting period[27] - The company is actively developing projects in Suzhou while maintaining its operations in Tianjin, indicating a strategy of regional expansion[28] - The company completed a total contracted sales area of 249,500 square meters, generating a contracted sales amount of 5.730 billion RMB, with a sales cash collection rate exceeding 90%[42] - The average transaction price in Suzhou was 26,339 RMB per square meter, reflecting a year-on-year increase of 19.35%[37] - The company’s rental income reached 57.2648 million RMB, with a contract fulfillment rate of over 95%[43] Financial Management and Risks - The company has detailed potential risks in the report, urging investors to be aware of investment risks[7] - The company faces risks from macroeconomic policies affecting real estate investment, development, and sales, which could adversely impact future operations if not properly managed[81] - Due to the impact of COVID-19, the company anticipates potential delays in project delivery and a decrease in sales revenue, necessitating careful cash flow management[82] - The company has committed to following national and industry policies to dynamically adjust its development and operational plans, enhancing its risk resilience[81] Corporate Governance - The company has appointed Zhongxi Accounting Firm for financial and internal control audits for the year 2020, with a remuneration of CNY 1,200,000[95] - The company has no major litigation or arbitration matters reported for the year[97] - The company’s independent directors did not raise any objections during the reporting period, reflecting consensus on key decisions[159] - The company’s internal control audit report received a standard unqualified opinion, indicating no significant deficiencies in internal controls[162] Shareholder Information - The total number of ordinary shareholders increased from 63,711 to 64,817 during the reporting period[123] - The largest shareholder, Tianjin State-owned Capital Investment Operation Co., Ltd., holds 181,537,240 shares, accounting for 16.42% of the total shares[125] - The company has no controlling shareholder or actual controller changes during the reporting period[128] Future Outlook - Future outlook indicates a projected revenue growth of 15% for 2021, driven by new product launches and market expansion strategies[138] - The company plans to strengthen risk control and improve operational efficiency by reforming management systems and maintaining smooth communication across all levels[80] - The company is focusing on market expansion and new product development as part of its future growth strategy[78]