TANDE(SH:600665)2021-04-27 16:00Financial Performance - In 2020, the company achieved a net profit attributable to shareholders of RMB 328,775,116.22, a decrease of 22.47% compared to 2019[5]. - The total operating revenue for 2020 was RMB 5,303,654,893.66, down 5.15% from RMB 5,591,345,602.68 in 2019[21]. - Basic earnings per share for 2020 were RMB 0.3805, down 22.46% from RMB 0.4907 in 2019[22]. - The weighted average return on equity decreased to 8.65%, down 3.34 percentage points from 11.99% in 2019[22]. - The company achieved sales revenue of RMB 5.304 billion and a net profit attributable to the parent company of RMB 329 million during the reporting period[36]. - The company reported a net profit of 1,605.16 million RMB for Xi'an Tiandi Source Real Estate Development Co., with total assets of 468,380.99 million RMB[68]. - Xi'an Tiandi Source Qujiang Real Estate Development Co. achieved a net profit of 6,995.44 million RMB, with operating revenue of 71,221.62 million RMB[75]. - Suzhou Tiandi Source Mudu Real Estate Co. generated a net profit of 16,755.09 million RMB, with operating revenue of 117,215.09 million RMB[75]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to RMB 3,876,529,048.96, a rise of 578.78% compared to RMB 571,104,601.52 in 2019[21]. - The company's total assets at the end of 2020 reached RMB 33,955,338,363.80, reflecting a growth of 17.28% from RMB 28,951,651,918.77 in 2019[21]. - Cash and cash equivalents increased by 58.48% to ¥7,207,366,418.29, representing 21.23% of total assets, due to higher sales collections compared to the previous year[52]. - Accounts receivable decreased by 46.19% to ¥91,703,051.70, accounting for 0.27% of total assets, primarily due to the recovery of receivables[52]. - Contract liabilities reached ¥10,437,702,523.87, accounting for 30.74% of total assets, reflecting the reclassification of pre-received housing payments under new revenue standards[53]. Financing and Investment - The company secured financing of RMB 6.229 billion throughout the year, enhancing its financial stability[34]. - The company has established a diversified financing system to adapt to policy adjustments and industry changes[34]. - The total financing amount at the end of the period was 1,369,184.10 million RMB, with an average financing cost of 7.60%[62]. - The company plans to issue non-public A-shares to raise up to CNY 2.5 billion for project construction and repayment of financial institution loans[121]. - The company has registered a scale of up to CNY 2 billion for non-public debt financing tools, with a term not exceeding 3 years[124]. Market and Strategic Outlook - The company is strategically expanding its operations across key economic regions in China, including the Yangtze River Delta and the Greater Bay Area[28]. - The company plans to focus on core cities and urban agglomerations to seize structural opportunities in the real estate market[82]. - The company plans to achieve a sales revenue of 7.208 billion yuan in 2021[86]. - The company aims to enhance management capabilities and operational efficiency through a focus on resource optimization and performance assessment[87]. - The company is committed to enhancing shareholder value, with plans to initiate a dividend policy in the upcoming fiscal year[152]. Corporate Governance and Compliance - The company has engaged Sigma Accounting Firm for auditing services, with a total remuneration of 1,230,000 RMB for the year 2020[101]. - The company has not reported any significant accounting errors or non-standard audit opinions during the reporting period[99]. - The board of directors received the "Golden Round Table Award" for excellence in governance in 2020[166]. - The company confirmed that related transactions followed fair market pricing and did not create dependency on related parties[183]. - The company has implemented measures to significantly reduce the impact of peer companies on its operating profits, effectively protecting the interests of minority investors[186]. Social Responsibility and Community Engagement - The company coordinated the procurement of agricultural products from targeted poverty alleviation villages amounting to over RMB 80,000, helping to increase income for local farmers[127]. - Total funds allocated for poverty alleviation efforts amounted to RMB 860,000, with material contributions valued at RMB 397,500[128]. - The company mobilized over 220 volunteers for COVID-19 prevention efforts, receiving high recognition from local authorities[130]. - The company organized nearly 200 community activities under the theme "Building a Better Life with Culture" to enhance resident engagement[131]. Shareholder Information - The total number of ordinary shareholders increased from 34,883 to 35,547 during the reporting period[138]. - The largest shareholder, Xi'an High-tech Industrial Development Zone Real Estate Development Co., Ltd., holds 497,000,938 shares, representing 57.52% of the total shares[140]. - The company has no strategic investors or general legal entities becoming top 10 shareholders during the reporting period[142]. - The company reported no significant changes in shareholding structure or restrictions on share reduction[146]. Employee and Management Structure - The company employs a total of 2,460 staff, with 84 in the parent company and 2,376 in major subsidiaries[159]. - The training plan includes both general and specialized training for new employees and key personnel, aimed at enhancing skills and optimizing work methods[162]. - The board of directors includes 12 members, with a diverse range of experience in engineering and management[149]. - The company has a strong leadership team, with key positions held by individuals with significant industry experience, such as the CFO with 131.98 million in compensation[149].