NHPRECL(SH:600638)2021-04-27 16:00Financial Performance - The company achieved a net profit attributable to shareholders of RMB 268,786,203.05 in 2020, a significant increase of 148.58% compared to a net loss of RMB 553,294,937.22 in 2019[5]. - Total revenue for 2020 was RMB 1,194,129,800.85, representing a decrease of 6.42% from RMB 1,276,105,232.14 in 2019[22]. - The basic earnings per share for 2020 was RMB 0.3991, a recovery from a loss of RMB 0.8216 per share in 2019, marking an increase of 148.58%[22]. - The weighted average return on equity improved to 6.39% in 2020, up by 18.92 percentage points from -12.53% in 2019[22]. - The company reported a non-recurring profit of CNY 195,767,962.01, a significant increase from CNY 54,470,340.29 in 2019[29]. - The company achieved total operating revenue of CNY 1,332.30 million, with a net profit of CNY 315.09 million, and a net profit attributable to shareholders of CNY 268.79 million[50]. - The company's operating income decreased by 6.42% compared to the previous year, amounting to CNY 1,194.13 million[52]. - The company's operating costs decreased by 14.02% to CNY 802.57 million, while sales expenses increased by 18.11% to CNY 126.93 million[53]. - The company reported a significant increase in credit impairment losses of 134.99%, totaling ¥201,378,496.42, due to debt restructuring and investment project impairment provisions[58]. - The company achieved a net profit of ¥268,786,203.05 for the year 2020, with a distributable profit of ¥2,236,575,870.64[103]. Cash Flow and Assets - The net cash flow from operating activities surged to RMB 1,351,771,248.41, an increase of 309.33% compared to RMB 330,241,910.12 in 2019[22]. - Cash and cash equivalents increased by 57.24% to CNY 4,418,179,425.90, accounting for 21.99% of total assets[62]. - The company's cash flow remains strong, with a low debt ratio compared to industry standards, positioning it favorably amidst regulatory challenges in the real estate market[33]. - The company reported a total financing amount of 329,686 million RMB, with an average financing cost of 5.55%[73]. - The company has a total of CNY 3,677,417,225.25 in assets under restriction due to borrowing collateral[64]. - The company has ongoing construction projects with a total investment amount of CNY 1,305 million for completed projects and CNY 70,848.2 million for ongoing projects[66]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 1.20 per 10 shares, totaling RMB 80,807,614.32, based on the total share capital of 673,396,786 shares[5]. - The company has not distributed cash dividends in the previous year, reflecting a focus on sustainable growth and shareholder returns[105]. - The company achieved a cash dividend payout ratio of 32.18% of the average distributable profit over the past three years[107]. Construction and Development - The company’s construction projects faced delays due to the COVID-19 pandemic, but management implemented effective strategies to recover lost time and ensure project completion[38]. - By the end of 2020, significant progress was made on various construction sites, with multiple projects reaching key structural milestones[39]. - The company has completed residential projects with a total building area of 1,305,000 square meters and ongoing projects with a total building area of 224,830.09 square meters[66]. - The company has ongoing construction projects with a total area of 138,382 square meters in Changzhou, valued at 413,372.32 million RMB[68]. - The company has a significant pending construction area of 497,788 square meters, indicating potential future revenue[69]. Market Position and Strategy - The company is actively entering the rental housing market, leveraging its experience in real estate development and financial integration to explore new business areas such as affordable housing and real estate investment trusts[35]. - The company plans to achieve total revenue of approximately 3 billion yuan in 2021, with core business revenue from real estate sales and rentals expected to reach 2.7 billion yuan[86]. - The company will continue to strengthen its "dual-wheel drive" development pattern, focusing on both real estate and financial investment sectors[84]. - The company aims to enhance its investment return rates while seeking synergies between its financial subsidiaries and real estate operations[84]. - The company recognizes the challenges in property operations due to economic fluctuations and plans to adjust rental prices accordingly[93]. Risk Management and Compliance - The company emphasizes the need for a comprehensive compliance management system across all subsidiaries to enhance risk control and operational efficiency[94]. - The company recognizes external uncertainties, including ongoing pandemic impacts and regulatory measures in the real estate sector, which pose significant challenges[97]. - The company aims to improve its internal control and risk management systems to address weaknesses exposed by previous incidents[98]. - The company has not faced any penalties from securities regulatory authorities in the past three years[172]. Corporate Governance - The company has established a comprehensive evaluation and incentive mechanism for senior management, linking performance assessments to revenue distribution[186]. - The company has a complete remuneration management system that adjusts salaries based on market trends and company performance annually[170]. - The board of directors convened nine meetings during the reporting period, ensuring scientific decision-making and compliance with legal obligations[180]. - The company has maintained a transparent information disclosure process, publishing 43 temporary announcements during the reporting period[180]. Social Responsibility - The company allocated RMB 2.048 million for consumption poverty alleviation, benefiting 20 registered poor households[135]. - A total of RMB 121.048 million was invested in poverty alleviation efforts, helping 238 registered poor individuals escape poverty[137]. - The company plans to establish a special poverty alleviation fund and continue support in education, industry, and employment in targeted counties[139]. - The company has not faced any environmental penalties during the reporting period and complies with national environmental protection laws[140].