Golden Bridge(SH:600639)2022-04-14 16:00Financial Performance - The company's operating revenue for 2021 was approximately RMB 4.62 billion, an increase of 28.50% compared to RMB 3.59 billion in 2020[22]. - The net profit attributable to shareholders for 2021 was approximately RMB 1.62 billion, representing a growth of 46.51% from RMB 1.11 billion in 2020[22]. - The net profit after deducting non-recurring gains and losses was approximately RMB 1.55 billion, up 48.41% from RMB 1.05 billion in the previous year[22]. - The company's total assets at the end of 2021 were approximately RMB 33.27 billion, a 10.78% increase from RMB 30.03 billion at the end of 2020[22]. - The net assets attributable to shareholders increased to approximately RMB 12.34 billion, reflecting a growth of 14.68% from RMB 10.76 billion in 2020[22]. - The basic earnings per share for 2021 were RMB 1.4460, a rise of 46.52% compared to RMB 0.9869 in 2020[22]. - The weighted average return on equity for 2021 was 14.26%, an increase of 3.59 percentage points from 10.67% in 2020[22]. - The net cash flow from operating activities for 2021 was approximately RMB 1.08 billion, a decrease of 66.90% compared to RMB 3.27 billion in 2020[22]. Revenue Breakdown - In 2021, the company achieved total operating revenue of approximately RMB 2.89 billion, with quarterly revenues of RMB 408.97 million, RMB 768.85 million, RMB 547.90 million, and RMB 1.02 billion respectively[9]. - The net profit attributable to shareholders for 2021 was approximately RMB 1.02 billion, with quarterly figures of RMB 127.29 million, RMB 315.97 million, RMB 158.02 million, and RMB 421.22 million respectively[9]. - The company reported a net cash flow from operating activities of approximately RMB 1.17 billion for the year, with quarterly cash flows of -RMB 670.39 million, RMB 281.94 million, RMB 298.97 million, and RMB 1.17 billion[9]. Investment and Development - The company is focused on strategic investment and development in the Pudong area, aligning with the dual-zone collaborative strategy to enhance regional development and industrial investment[31]. - The company aims to continuously improve service quality and enhance its brand advantage while expanding its industrial ecosystem through strategic investments[31]. - The company successfully attracted 25 new projects to settle in the industrial development area within the year, achieving a doubling of the rental rate in the South Comprehensive Bonded Zone[34]. - The company acquired three residential land parcels in the Lingang New Area for a total price of 4.504 billion CNY, covering a total area of approximately 274,800 square meters[34]. - The company completed the sale of 173 units in the second phase of the Biyun Residence project in December 2021, with total sales exceeding 3 billion CNY on the opening day[34]. - The company plans to focus on urban development, operational services, and industrial investment as part of its "14th Five-Year Plan" to become a leading integrated urban development operator[34]. Financial Structure and Cash Flow - The company has a strong financial structure with a consistent debt ratio, maintaining an AAA credit rating, which supports its competitive advantage in financing[40]. - The company reported a total financing amount of RMB 913,368.00 million with an average financing cost of 3.67%[81]. - The company reported a net cash outflow from investment activities of approximately ¥513 million, a significant reduction from the previous year's outflow of ¥2.76 billion[53]. - The company’s total assets at the end of the period were significantly impacted by an increase in cash from pre-sale housing receipts[66]. - Cash and cash equivalents at the end of the period were RMB 4.205 billion, accounting for 12.64% of total assets, an increase of 102.45% from the previous period[66]. Market and Operational Strategies - The company aims to enhance its core competitiveness by focusing on three main areas: urban development and sales, operational services, and industrial investment[93]. - The company plans to develop the "Industrial Innovation Community" and "Biyun International Community" as its core products, creating a complete ecosystem from planning to operation and service[93]. - The company will actively engage in land acquisition and planning adjustments to expand its development space, particularly in the Jinqiao area[97]. - The company recognizes the trend of "housing not for speculation" and anticipates continued tightening of real estate policies and financial regulations[96]. - The company aims to focus on the mid-to-high-end long-term rental apartments and new service apartments market in 2022, with plans to start trial operations of the Zhangjiang project by mid-2022[100]. Corporate Governance and Social Responsibility - The company has established a performance-oriented salary system, with basic salary accounting for 47% and performance salary for 53% of the total compensation for the management team[147]. - The company is actively engaged in social responsibility initiatives, committing a total of 2 million yuan over five years to support rural revitalization efforts in six villages[153]. - The company has implemented a structured governance framework for its subsidiaries, including appointing directors and senior management to oversee operations[148]. - The company has not reported any significant internal control deficiencies during the reporting period[148]. - The company has maintained a good integrity status, with no significant defaults or regulatory penalties reported[163]. Shareholder Information - The largest shareholder, Shanghai Jinqiao (Group) Co., Ltd., holds 554,081,457 shares, representing 49.37% of the total shares[189]. - The second-largest shareholder, China Securities Finance Corporation, holds 19,886,570 shares, accounting for 1.77% of the total shares[189]. - The total number of shares held by the top ten shareholders includes significant stakes from various entities, with the total ownership concentrated among a few key players[189]. - The report indicates no changes in the controlling shareholder during the reporting period, maintaining stability in ownership[196]. - There are no shares pledged or frozen among the top shareholders, indicating a stable financial position[189].