栖霞建设(600533) - 2021 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2021 was RMB 3,187,954,500.69, a decrease of 3.24% compared to RMB 3,294,698,994.57 in 2020[21] - The net profit attributable to shareholders of the listed company reached RMB 369,725,727.91, an increase of 13.25% from RMB 326,477,927.23 in the previous year[21] - The net profit after deducting non-recurring gains and losses was RMB 354,735,295.39, representing a significant increase of 39.87% compared to RMB 253,611,208.23 in 2020[21] - The total profit reached 458 million yuan, an increase of 11.99% year-on-year[45] - Net profit attributable to the parent company was 370 million yuan, reflecting a year-on-year increase of 13.25%[45] - The company achieved a net profit attributable to shareholders of 267.95 million RMB in Q1 2021, with a significant decline to -1.77 million RMB in Q4 2021[24] - Cash flow from operating activities for the year was 1.054 billion RMB in Q1, decreasing to -40.16 million RMB in Q4[24] Assets and Liabilities - The total assets at the end of 2021 amounted to RMB 23,154,403,551.54, reflecting a growth of 4.69% from RMB 22,117,636,722.68 in 2020[21] - The net assets attributable to shareholders of the listed company increased to RMB 4,439,156,808.91, a rise of 6.64% from RMB 4,162,678,184.10 at the end of 2020[21] - The company's inventory stood at RMB 15,371,610,643.59, down from RMB 15,866,714,698.72, indicating a decrease of approximately 3.12%[200] - The total non-current assets were reported at RMB 2,500,000,000, reflecting a stable position compared to the previous year[200] - The company reported a total asset value of RMB 22,573,337,953.91 as of December 31, 2021, compared to RMB 21,524,367,458.40 in 2020, marking an increase of approximately 4.87%[200] Cash Flow and Financing - The net cash flow from operating activities was RMB 2,808,019,936.88, a substantial recovery from a negative cash flow of RMB -233,667,493.08 in 2020[21] - The company reported a net cash inflow from sales and services of 6.57 billion RMB, a year-on-year increase of 91.60%[33] - The company issued bonds and short-term financing notes totaling 4.27 billion RMB in 2021, optimizing its financing structure[33] - The company has unused bank credit of 2.37 billion RMB, which can cover short-term debts of 2.61 billion RMB[46] - The total financing amount at the end of the reporting period is CNY 881,624,000 with an average financing cost of 5.40%[63] Real Estate Development - In 2021, the company's total sales of commercial housing reached 9.051 billion RMB, an increase of 117% year-on-year[31] - The area of commercial housing sold was 290,000 square meters, up 98.49% compared to the previous year[31] - The company has ongoing construction projects in Nanjing, with a total planned construction area of 1,186,300 square meters for "Xingye Happy Garden"[61] - The company aims to increase land reserves through strategic participation in land auctions, aligning with its development strategy[109] Corporate Governance - The company held 1 annual general meeting and 1 extraordinary general meeting during the reporting period, ensuring compliance with regulations and protecting the rights of minority shareholders[87] - The board of directors convened 6 meetings, fulfilling their responsibilities and maintaining the interests of all shareholders[88] - The company strictly adhered to information disclosure regulations, ensuring transparency and fairness in communication with investors[89] - The company continues to enhance its corporate governance structure, aligning with legal and regulatory requirements[87] Employee and Management - The company had a total of 2,129 employees, with 120 in the parent company and 2,009 in major subsidiaries[112] - The employee composition includes 62 sales personnel, 315 technical staff, 43 financial staff, 279 management personnel, and 1,430 other employees[112] - The company implements a performance-based salary system, linking employee wages to job characteristics and performance[113] - The training plan for 2022 focuses on developing a skilled workforce through internal management experience sharing and diverse training programs[115] Market Conditions - In 2021, the overall performance of the real estate market reached a historical high, with a market size of 27,765 billion yuan, but showed a significant cooling trend in the second half of the year[75] - The real estate industry is under significant policy risk due to ongoing macro-control measures, emphasizing stable land prices, housing prices, and expectations[82] - The market is experiencing a bifurcation, with intense competition in first- and second-tier cities, while third- and fourth-tier cities face declining demand and oversupply[83] Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares, totaling RMB 126,000,000.00[6] - The company emphasizes a stable cash dividend policy to ensure investor returns, as outlined in its articles of association[117] Audit and Compliance - The internal control system was established and effectively implemented, ensuring compliance and the integrity of financial reporting[120] - The internal control audit report received a standard unqualified opinion[122] - The company has maintained compliance with independence-related ethical requirements, ensuring transparency in its financial reporting[198]