Cinda Real Estate(SH:600657)2022-03-29 16:00Financial Performance - In 2021, Cinda Real Estate achieved a net profit attributable to shareholders of 815,251,105.89 CNY, with distributable profits amounting to 659,499,328.22 CNY[6]. - The company plans to distribute a cash dividend of 0.70 CNY per 10 shares, totaling 199,631,501.65 CNY, which represents 24.49% of the annual net profit[6]. - Net profit attributable to shareholders for 2021 was CNY 815,251,105.89, down 45.72% from the previous year[25]. - Basic earnings per share for 2021 were CNY 0.29, a decline of 45.28% compared to 2020[25]. - The company's operating revenue for 2021 was CNY 22,105,282,753.10, a decrease of 14.53% compared to 2020[25]. - The net cash flow from operating activities decreased by 63.16% to CNY 2,711,787,986.70 in 2021[25]. - The weighted average return on equity for 2021 was 3.47%, a decrease of 3.21 percentage points from 2020[25]. - The total assets at the end of 2021 were CNY 86,921,743,162.63, down 7.80% from the end of 2020[25]. - The net assets attributable to shareholders increased by 3.37% to CNY 23,863,671,853.13 at the end of 2021[25]. - The company reported a significant increase in R&D expenses by 33.43%, totaling ¥4,958,184.41 compared to ¥3,716,068.92 last year[71]. Market and Investment Trends - The investment in real estate development in China for 2021 was 14,760.2 billion, showing a growth of 4.4% year-on-year[44]. - The sales area of commercial housing in 2021 was 1,794.33 million square meters, an increase of 1.9% compared to the previous year[44]. - The total sales amount of commercial housing in 2021 was 1,819.30 billion, reflecting a growth of 4.8% year-on-year[44]. - The company is focusing on expanding in the Yangtze River Delta region, where the market remains relatively active[49]. - The overall real estate market is experiencing a tightening of the capital chain, with an increase in companies facing operational difficulties[56]. - The company plans to enhance its investment capabilities by optimizing resource allocation and exploring innovative business models[55]. - The company aims to improve operational efficiency through enhanced project lifecycle management and rapid construction and sales processes[55]. - The company plans to achieve a signed sales target of 23 billion yuan and a cash collection target of 20 billion yuan in 2022[146]. - The planned new construction area for 2022 is 1.3 million square meters, while the planned completion area is 1.8 million square meters[146]. Strategic Initiatives - The company adopted a "cash is king" strategy, focusing on rapid sales and cash collection to improve fund turnover speed[55]. - The company intends to strengthen its collaboration with external partners to enhance resource integration and create a real estate business ecosystem[148]. - The company recognizes the need to adapt to changes in consumer housing preferences, emphasizing health, safety, and service quality[144]. - The company will innovate financing methods and expand financing channels to manage high capital costs effectively[149]. - The company plans to continue its strategy of leveraging cooperative and entrusted projects to enhance revenue streams in the future[117]. - The company is exploring potential mergers and acquisitions to strengthen its market position[164]. Governance and Compliance - The company held 4 shareholder meetings, 9 board meetings, and 15 special committee meetings during the reporting period, ensuring compliance with regulations and protecting shareholder rights[152]. - The company maintains complete independence in operations, assets, personnel, finance, and business from its controlling shareholders[153]. - The company has implemented a reputation risk management system and improved media communication, leading to increased recognition and acceptance by the media[152]. - The company’s governance practices are in strict accordance with the Company Law and Securities Law, ensuring a transparent and efficient board[152]. - The company has established specialized committees, including a strategic committee and an audit committee, to enhance governance and oversight[180]. Employee and Management Practices - The company reported a total of 2,827 employees, with 147 in the parent company and 2,680 in major subsidiaries[186]. - The company conducted approximately 70 training sessions throughout the year, with a total of 3,878 participants, achieving a 100% employee training coverage rate[190]. - The company has a competitive salary policy that emphasizes performance rewards, with salary adjustments based on annual operating performance and industry benchmarks[189]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to CNY 11.6577 million[172]. - The company has maintained a stable management team with no significant turnover among key executives during the reporting period[172]. Future Outlook - Future guidance indicates a projected revenue growth of approximately 15% year-over-year[165]. - The company is committed to sustainability initiatives as part of its long-term strategy[164]. - The company aims to enhance its operational efficiency and reduce inventory through improved market monitoring and flexible pricing strategies[148]. - The management highlighted a focus on new technology research and development initiatives to drive future growth[163].