Cinda Real Estate(SH:600657)2023-03-28 16:00Financial Performance - The company's operating revenue for 2022 was CNY 18,248,095,457.18, a decrease of 17.45% compared to CNY 22,105,282,753.10 in 2021[48]. - The net profit attributable to shareholders for 2022 was CNY 550,403,895.48, down 32.49% from CNY 815,251,105.89 in the previous year[48]. - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 233.84% to CNY 348,445,215.53 from CNY 104,376,087.89 in 2021[48]. - The net cash flow from operating activities decreased by 32.14% to CNY 1,840,131,585.83 from CNY 2,711,787,986.70 in the previous year[48]. - Revenue decreased to CNY 16,506,818,073.47, down 20.76% year-on-year due to a decline in real estate project turnover[81]. - Operating costs fell to CNY 13,471,434,795.83, a decrease of 22.96% compared to the previous year, primarily due to reduced real estate turnover[81]. - The company reported a basic earnings per share of CNY 0.19, a decrease of 34.48% compared to CNY 0.29 in the previous year[91]. - The company achieved operating revenue of 18.25 billion RMB, a decrease of 17.45% compared to 22.11 billion RMB in the same period last year[109]. - Net profit for the period was 575 million RMB, down 31.94% from 845 million RMB year-on-year[109]. Asset and Liability Management - The total assets at the end of 2022 were CNY 88,406,095,713.68, an increase of 1.71% compared to CNY 86,921,743,162.63 at the end of 2021[48]. - The net assets attributable to shareholders increased by 1.48% to CNY 24,215,759,368.00 from CNY 23,863,671,853.13 in the previous year[48]. - The total liabilities increased to 63.31 billion RMB, up 1.03 billion RMB from the beginning of the year[109]. - The asset-liability ratio stood at 71.61%, a slight decrease of 0.03 percentage points from the previous year[109]. - The company maintained a loan repayment rate of 100% and an interest payment rate of 100%[25]. Market and Economic Conditions - The overall policy direction for 2023 is aimed at promoting a stable and healthy development of the real estate market, with expectations for gradual recovery[31]. - The total investment in real estate development in China decreased by 10.0% year-on-year in 2022, amounting to ¥1.32 trillion[68]. - The area of new housing starts in 2022 fell by 39.4% year-on-year, totaling 120.59 million square meters[68]. - The total funds available to real estate developers in 2022 decreased by 25.9% year-on-year, amounting to ¥1.49 trillion[69]. - The central government has implemented various policies to stabilize the real estate market, including support for housing demand and optimizing pre-sale fund supervision[70]. Strategic Focus and Future Plans - The company plans to explore the long-term rental housing market and improve asset-liability conditions for quality real estate enterprises[70]. - The company aims to start construction on 800,000 square meters and complete 1,750,000 square meters in 2023[163]. - The company will enhance its light asset business scale and develop a professional real estate resource integration business model[163]. - The company is focusing on expanding its market presence through new product development and strategic investments in real estate projects[171]. - The company plans to enhance its financial strategies by strengthening cooperation with financial institutions and innovating financing methods to control capital costs[186]. Operational Efficiency and Management - The company focuses on building a professional and differentiated development model, enhancing operational efficiency, and creating value through various strategies such as project investment and professional consulting[102]. - The company has improved its inventory turnover and cash collection by implementing flexible marketing strategies and enhancing sales performance, resulting in a more robust marketing system[102]. - The company is enhancing its digital management system to improve operational efficiency, focusing on key performance indicators across various business functions[107]. - The company aims to improve its brand influence and product cost-effectiveness to ensure sustainable development[165]. - The company emphasizes the importance of risk management, with independent directors overseeing this function[194]. Governance and Management Structure - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 12.7359 million yuan[195]. - The company held a total of 12 board meetings during the year, with 10 conducted via communication methods[199]. - The current chairman, Shi Aimin, was elected by the board, while the former chairman, Zhao Limin, has resigned[195]. - The company has appointed independent directors with extensive experience in various sectors, enhancing governance and oversight[194]. - The board of directors has a diverse composition, including members with backgrounds in finance, engineering, and academia[194].