Airport Corp(SH:600463)2023-04-14 16:00Financial Performance - In 2022, the company reported a net profit attributable to shareholders of -31,909,979.76 RMB, compared to -25,194,138.08 RMB in 2021, indicating a worsening performance [5]. - Total revenue for 2022 was 652,882,961.09 RMB, a decrease of 35.55% from 1,013,076,407.85 RMB in 2021 [20]. - The company's net cash flow from operating activities was -139,699,595.00 RMB, an improvement of 17.91% compared to -170,172,948.20 RMB in the previous year [20]. - The total assets at the end of 2022 were 2,560,993,782.63 RMB, down 12.02% from 2,910,801,211.04 RMB at the end of 2021 [20]. - The company's net assets attributable to shareholders decreased by 2.62% to 1,187,767,843.94 RMB from 1,219,677,823.70 RMB in 2021 [20]. - Basic earnings per share for 2022 were -0.1064 RMB, compared to -0.084 RMB in 2021 [20]. - The company plans not to distribute profits for 2022 due to the negative net profit [5]. - The company experienced a significant decline in revenue from its main business, with a reported revenue of 460,103,907.19 RMB, down 54.17% from 1,003,891,938.19 RMB in 2021 [20]. - The weighted average return on equity was -2.60% in 2022, compared to -2.04% in 2021 [20]. Revenue and Cash Flow Trends - In Q1 2022, the company reported a revenue of ¥175,565,231.33, which increased to ¥267,792,872.63 in Q2, but dropped to ¥111,335,067.79 in Q3 and further to ¥98,189,789.34 in Q4 [22]. - The net profit attributable to shareholders was negative in Q1 at -¥5,119,131.08, turned positive in Q2 with ¥36,178,413.87, but fell to -¥2,176,243.31 in Q3 and -¥60,793,019.24 in Q4 [22]. - The net cash flow from operating activities was negative in Q1 at -¥84,828,137.92, positive in Q2 at ¥6,094,851.68, and negative again in Q3 and Q4 at -¥56,309,488.36 and -¥4,656,820.40 respectively [22]. Asset Management and Investments - The company recorded non-recurring gains of ¥67,824,004.80 from the disposal of non-current assets in 2022, compared to a loss of -¥28,113.75 in 2021 [23]. - The total non-recurring profit and loss for 2022 amounted to ¥61,544,853.96 after tax adjustments [25]. - The company completed the transfer of ownership for 4 buildings in its subsidiary Tianrui Real Estate during the reporting period [30]. - The MAX Airport R&D Innovation Park A project, covering approximately 51,000 square meters, is currently revising its marketing plan [30]. - The company’s joint venture has sold all 1,300 units of shared ownership housing in the SY00-0022-6015R2 project, with residents already moved in [30]. - The company is actively seeking project cooperation for land and property in Dazhuang Village, Shunyi District [30]. - The company’s subsidiary has completed the main structure of the first phase of the computer software industrial park project, covering approximately 17,800 square meters [30]. Subsidiary Performance - Tianrui Real Estate achieved operating revenue of 212.46 million yuan, an increase of approximately 160.65 million yuan year-on-year, with a net profit of 44.67 million yuan, up about 43.08 million yuan from the previous year [31]. - Tianyuan Construction's total area of new, resumed, and completed projects reached approximately 1.0831 million square meters during the reporting period [32]. - Tianyuan Construction reported operating revenue of 338.65 million yuan, a decrease of approximately 472.18 million yuan year-on-year, with a net loss of 86.92 million yuan, worsening by about 24.02 million yuan compared to the previous year [33]. Rental and Property Management - The company’s self-owned rental property area is approximately 214,300 square meters, with a rental rate of about 85% [34]. - The company’s self-owned property rental and management business generated revenue of 109.52 million yuan, a decrease of approximately 14.08 million yuan year-on-year, primarily due to rent reductions for small and micro enterprises amounting to about 14.39 million yuan [34]. Risk Management and Governance - The company has acknowledged various risks including macroeconomic and policy risks, as well as fluctuations in raw material and labor costs [8]. - The company is committed to enhancing its risk management framework to mitigate investment management risks [94]. - The company emphasizes the importance of collaboration with think tanks to improve its understanding of industry trends and policies [91]. - The company is focused on maintaining a strong governance structure to ensure transparency and protect stakeholder interests [97]. Strategic Initiatives and Future Plans - The company aims to position itself as a modern comprehensive operator of airport industrial real estate and a technology innovation investment service provider [34]. - The company is leveraging its experience in park development and capital operation to adapt to the transformation and upgrading of industrial parks [39]. - The company will implement a dual-driven development strategy focusing on comprehensive development operations and technology innovation services in 2023 [90]. - The company intends to enhance its internal control systems and optimize organizational structure to improve operational efficiency and business quality [90]. - The company plans to capitalize on the rapid development opportunities in the capital's airport economy and the construction of Shunyi New Town, targeting high-end service industry clusters [86]. Shareholder and Management Information - The company held six shareholder meetings in 2022, with key resolutions including the reappointment of the accounting firm and financial support for subsidiaries [100][101]. - The annual shareholder meeting approved the asset impairment provision for the fiscal year 2021, reflecting a proactive approach to financial management [100]. - The company reported a total remuneration of 231.32 million yuan for its directors and senior management during the reporting period [104]. - The company has not reported any changes in shareholding for its directors and senior management during the reporting period, indicating stability in leadership [104]. Compliance and Regulatory Matters - The company has been under investigation by the China Securities Regulatory Commission, which has led to administrative penalties [111]. - The company has completed rectification measures regarding significant accounting errors in its 2019 and 2020 financial reports [156]. - The company has disclosed the investigation and criminal penalties involving its senior management and subsidiaries, ensuring compliance with disclosure regulations [157]. - The company has taken steps to improve compliance with laws and regulations related to information disclosure and related party transactions [158]. Related Party Transactions - The total expected daily related transactions for 2022 with related parties is RMB 19.4 million, an increase from the original estimate of RMB 18.6 million [161][162]. - The company has reported a cumulative amount of RMB 10,974.54 million in daily related transactions for the year 2022 [164]. - The company has adhered to the regulations set forth by the Shanghai Stock Exchange regarding related transactions, ensuring compliance throughout the reporting period [162]. Employee and Workforce Information - The company has a total of 614 employees, with 78 in the parent company and 536 in major subsidiaries [129]. - Among the employees, there are 290 technical personnel, 257 administrative personnel, and 184 with a bachelor's degree or higher [129].