SHSTC(SH:600620)2022-03-25 16:00Financial Performance - The net profit attributable to the parent company for 2021 was CNY 123,065,844.74, with distributable profits as of December 31, 2021, amounting to CNY 479,708,473.66[5] - The company's operating revenue for 2021 was CNY 41,817,567.02, representing a 13.37% increase compared to CNY 36,885,944.34 in 2020[21] - Net profit attributable to shareholders for 2021 was CNY 123,065,844.74, a 16.84% increase from CNY 105,324,245.63 in 2020[21] - The net profit after deducting non-recurring gains and losses decreased by 7.77% to CNY 81,813,140.02 in 2021 from CNY 88,704,486.84 in 2020[21] - The company's total assets at the end of 2021 were CNY 2,731,229,896.46, down 7.01% from CNY 2,937,105,335.82 at the end of 2020[21] - Basic earnings per share increased by 20.00% to CNY 0.18 in 2021, compared to CNY 0.15 in 2020[21] - The weighted average return on net assets rose to 5.38% in 2021, an increase of 1.43 percentage points from 3.95% in 2020[21] - The net cash flow from operating activities was negative CNY 211,410,099.71 in 2021, compared to negative CNY 42,202,335.36 in 2020[21] - The company's net assets attributable to shareholders decreased by 7.35% to CNY 2,200,598,853.33 at the end of 2021 from CNY 2,375,255,731.35 at the end of 2020[21] Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.55 per 10 shares, totaling CNY 37,767,241.22[5] - The company has a cash dividend policy that emphasizes stable returns to shareholders, with the 2020 profit distribution plan approved and implemented during the reporting period[102] Audit and Compliance - The company has received a standard unqualified audit report from Lixin Certified Public Accountants[4] - The board of directors has ensured the authenticity, accuracy, and completeness of the annual report[3] - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[6] - The company reported no penalties from securities regulatory authorities in the past three years, indicating a clean compliance record[87] Business Operations - The company achieved operating revenue of RMB 41.82 million, an increase of 13.37% compared to the previous year, primarily due to the recovery of taxi and property leasing revenues after the pandemic[30] - The taxi business generated revenue of RMB 13.22 million, with a net profit of RMB 2.52 million, reflecting a 7.08% increase in operating income compared to last year[32] - Property leasing income was RMB 28.53 million, an increase of RMB 4.33 million from RMB 24.20 million in the previous year, as there were no pandemic-related rent reductions this year[32] - The Tianchen Life Science City project reported a net loss of RMB 8.17 million, but this was a 39.52% reduction in losses compared to the previous year's loss of RMB 13.51 million[31] - The company is investing RMB 250 million in the rehabilitation hospital project, which is currently under construction[32] Investment and Financial Management - Investment income for the period was RMB 114.99 million, with fair value changes contributing RMB 42.15 million, largely due to the listing of an investment project on the STAR Market[34] - The company has invested a total of CNY 30,000,000 in financial products, including CNY 5,000,000 in bank wealth management products and CNY 15,000,000 in private equity funds[134] - The company reported a total of CNY 563,410 in actual returns from a private equity fund managed by Huatai Fund Management Co., Ltd.[134] Risk Management - The company recognizes macroeconomic risks and uncertainties in the post-pandemic era, which may impact its operations and growth[67] - The company faces risks from the ongoing COVID-19 pandemic, which could affect its property and rental businesses[69] - The company is subject to policy risks related to national real estate regulations that may impact financing and sales of the Life Science City project[69] - The company acknowledges competition risks from emerging ride-hailing services that may affect its traditional taxi business[69] Governance and Management - The company held three shareholder meetings in 2021, with key resolutions including the approval of bank loan guarantees for subsidiaries and the election of new board members[75] - The total pre-tax remuneration for senior management during the reporting period amounted to 685.11 million CNY, with the highest individual remuneration being 320,000 CNY for the general manager[77] - The company appointed new directors and independent directors in November 2021, including Ye Zhijian and Ji Aiping[81] - The company’s management team has extensive experience in various sectors, including finance and real estate[82] - The company has implemented a cash management plan using idle funds, aiming to optimize financial resources[89] Employee and Workforce - The company reported a total of 124 employees, with 22 in the parent company and 102 in major subsidiaries[99] - The workforce includes 33 production staff, 4 sales personnel, 37 technical staff, 10 financial staff, and 40 administrative staff[99] - The company has established a training plan to enhance employee skills, combining internal and external training methods[101] Legal Matters - The company is involved in a significant civil lawsuit against Shanghai Haoyouduo Investment Consulting Co., Ltd., claiming a total of RMB 4,867,911.94 for housing occupation fees and fire water fees[124] - The court ruled that the defendant must pay RMB 1,389,150 as housing occupation fees and RMB 251,385.25 for fire water fees, with additional penalties for late payment[126] Shareholder Structure - The total number of common shareholders at the end of the reporting period was 16,639, down from 19,087 at the end of the previous month[142] - The largest shareholder, Shanghai Zhongsheng Hongqiao Enterprise Management Co., Ltd., held 172,225,164 shares, representing 25.08% of the total shares[144] - The second largest shareholder, Guohua Life Insurance Co., Ltd. - Universal No. 3, held 104,088,332 shares, accounting for 15.16%[144] - The company reported no changes in the controlling shareholder or actual controller during the reporting period[146] Asset Management - The fair value of financial assets held by Tianchen Co. as of December 31, 2021, amounted to 1,502.16 million yuan, representing 55.00% of total assets[158] - Current assets totaled CNY 1,148,775,558.20, an increase from CNY 1,046,706,931.82 in the previous year, representing a growth of about 9.8%[169] - Cash and cash equivalents decreased to CNY 193,415,072.33 from CNY 264,896,175.23, indicating a decline of approximately 27%[169] - Inventory rose by 34.39% to CNY 759.38 million, primarily due to increased project development costs[55]