SHSTC(SH:600620)2021-03-25 16:00Financial Performance - In 2020, Tianchen Co., Ltd. reported a revenue of CNY 36,885,944.34, a decrease of 25.41% compared to CNY 49,452,622.41 in 2019[20] - The net profit attributable to shareholders of the listed company for 2020 was CNY 105,324,245.63, representing an increase of 56.89% from CNY 67,130,915.65 in 2019[20] - The net profit after deducting non-recurring gains and losses was CNY 88,704,486.84, up 50.67% from CNY 58,873,995.53 in 2019[20] - The basic earnings per share for 2020 was CNY 0.15, a 50.00% increase from CNY 0.10 in 2019[21] - The company reported a net profit margin improvement due to reduced operating costs and increased investment income[175] - The total profit for the year was CNY 105,724,297.89, compared to CNY 71,218,861.47 in 2019, marking an increase of 48.3%[179] - The company reported a significant loss in other comprehensive income, totaling CNY -233,808,753.36, compared to a gain of CNY 175,356,565.02 in the previous year[182] - The total comprehensive income for the year was CNY -131,192,936.15, a decrease from CNY 237,035,678.08 in 2019, highlighting challenges in overall financial performance[179] Assets and Liabilities - The total assets of the company at the end of 2020 were CNY 2,937,105,335.82, a decrease of 7.10% from CNY 3,161,613,473.09 at the end of 2019[20] - The total liabilities of Tianchen Co. decreased to approximately ¥469.90 million in 2020 from ¥542.61 million in 2019, reflecting a decline of about 13.4%[168] - The equity attributable to shareholders decreased to approximately ¥2.38 billion in 2020 from ¥2.52 billion in 2019, a decrease of about 5.8%[169] - The company's cash and cash equivalents decreased to approximately ¥264.90 million in 2020 from ¥339.63 million in 2019, representing a decline of about 22.0%[166] - The total liabilities to equity ratio stands at approximately 0.21, suggesting a conservative leverage position[83] Cash Flow - The net cash flow from operating activities was negative CNY 42,202,335.36 in 2020, compared to negative CNY 16,501,953.96 in 2019[20] - The company reported a cash inflow from operating activities totaling 50,391,081.06 RMB, down from 58,240,370.32 RMB in the previous year, indicating a decrease of about 13.8%[184] - The net cash flow from investment activities was -14,184,046.93 RMB, a sharp decline from 142,775,514.01 RMB in the previous year, reflecting reduced investment returns[185] - The total cash outflow from operating activities was 92,593,416.42 RMB, compared to 74,742,324.28 RMB in 2019, reflecting an increase of approximately 23.8%[184] Investment and Projects - The company plans to invest 1.58 billion RMB in the Tianchen Health City project, which is expected to take 2 years to complete and could significantly alter the revenue structure[30] - The company has initiated the Tianchen Health City project, which is expected to become a new revenue growth point, although it faces uncertainties due to external policies and market conditions[56] - The company achieved investment income of 116.97 million RMB, with cash dividends from Greenland Holdings contributing 111.34 million RMB[38] Shareholder Information - The company plans to distribute a cash dividend of CNY 0.5 per 10 shares, totaling CNY 34,333,855.65[5] - The cash dividend for 2020 was set at 0.5 RMB per 10 shares, with a total cash distribution of approximately 34.33 million RMB, representing 33% of the net profit attributable to ordinary shareholders[72] - The total number of ordinary shareholders increased from 20,059 to 20,307 during the reporting period[109] Management and Governance - The company has maintained a stable management team with no changes in shareholding or significant remuneration adjustments[126] - The company emphasizes the protection of shareholder rights and maintains a commitment to fair and transparent information disclosure[149] - The company has acknowledged the need for strategic adjustments to enhance its core competitiveness and financial performance[65] Market Conditions and Challenges - The company is facing risks from national real estate macro-control and potential adverse impacts from the pandemic on its leasing and taxi operations[68] - The company provided rent reductions to tenants in response to government initiatives, which impacted rental income but was offset by efforts to lease additional properties[30] - The company aims to enhance its core competitiveness and improve revenue and profit levels through strategic adjustments in response to market conditions[30]