CECL(SH:600675)2023-03-29 16:00Financial Performance - The company's operating revenue for 2022 was RMB 2,601,349,489.29, a decrease of 72.89% compared to RMB 9,596,898,644.26 in 2021[17]. - The net profit attributable to shareholders of the listed company was RMB 23,054,529.61, down 97.14% from RMB 805,278,958.78 in the previous year[17]. - The net cash flow from operating activities was RMB -1,456,241,244.26, a decline of 150.74% compared to RMB 2,870,195,777.31 in 2021[17]. - Basic earnings per share decreased by 96.92% to CNY 0.004 in 2022 from CNY 0.13 in 2021[20]. - The company reported a net profit attributable to shareholders after deducting non-recurring gains and losses of RMB -810,320,297.75, a decrease of 252.84% from RMB 530,175,900.27 in 2021[17]. - The weighted average return on net assets dropped to 0.15% in 2022 from 5.02% in 2021, a decrease of 4.87 percentage points[20]. - The company reported a loss of CNY 138.8 million in Q1 2022 after deducting non-recurring gains and losses[21]. - The company’s financial assets decreased by CNY 28.8 million, impacting profits by CNY 2.2 million[24]. - The company’s investment income increased significantly to CNY 764.81 million, a rise of 47,398.39% year-on-year[42]. - The company’s cash flow from operating activities was negative CNY 1.46 billion, a decrease of 150.74% compared to the previous year[42]. Assets and Liabilities - The total assets at the end of 2022 amounted to RMB 58,710,591,300.28, an increase of 8.35% from RMB 54,184,620,613.60 at the end of 2021[19]. - The net assets attributable to shareholders of the listed company were RMB 15,236,036,443.02, a decrease of 1.91% from RMB 15,532,513,210.96 in 2021[19]. - Inventory increased by 33.90% to ¥22,467,115,340.69, representing 38.27% of total assets[58]. - Contract liabilities surged by 204.12% to ¥10,919,350,698.36, accounting for 18.60% of total liabilities[58]. - The debt-to-asset ratio increased to 71.98% in 2022 from 68.59% in 2021, an increase of 3.39% due to an increase in total liabilities and a decrease in equity[191]. Dividends and Shareholder Returns - The company plans to distribute a cash dividend of RMB 0.02 per 10 shares, totaling RMB 12,092,270.66 (including tax) based on the total share capital as of December 31, 2022[4]. - The company distributed cash dividends of CNY 320.45 million, accounting for 40% of the net profit attributable to shareholders[40]. - The cash dividend for 2022 represents 52.45% of the net profit attributable to ordinary shareholders in the consolidated financial statements, which is approximately 23.05 million RMB[129]. Market and Operational Strategy - The company is strategically positioned as a significant player in urban renewal and comprehensive development operations in Shanghai, aligning with its "14th Five-Year Plan" objectives[36]. - The company achieved a total investment of RMB 774.681 million in market-oriented land auctions in 2022, with significant acquisitions including a residential community in Gucun for RMB 93.239 million and another site in Guangfulin for RMB 681.442 million, supporting long-term sustainable development[29]. - The company is actively involved in various projects across Shanghai and Jiangsu, indicating a strategy of market expansion and diversification[64]. - The company plans to enhance sales efficiency and ensure cash flow by focusing on new projects and addressing inventory challenges, targeting annual cash collection goals[86]. - The company aims to improve rental income by enhancing asset management and targeting a rental increase of no less than 5% for key projects like Gubei International Wealth Center[86]. Governance and Compliance - The company emphasizes the importance of risk awareness regarding forward-looking statements in the report[6]. - The company has not violated any decision-making procedures for providing guarantees[5]. - The company has established a long-term mechanism to prevent the controlling shareholder from occupying company funds, with no incidents reported during the period[92]. - The internal control system has been continuously improved, with annual audits conducted to assess the effectiveness of internal controls across the company and its subsidiaries[93]. - The company has implemented a performance evaluation and incentive mechanism for senior management, ensuring transparency in the hiring process[93]. Environmental, Social, and Governance (ESG) - The company is committed to enhancing its ESG competitiveness by integrating ESG management into all business processes and improving sustainability practices[89]. - The company implemented carbon reduction measures, successfully reducing carbon dioxide equivalent emissions by 176 tons[137]. - The company invested a total of 200,000 yuan in poverty alleviation projects, specifically aiding two villages in Shanghai and Yunnan[140]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[136]. - The company is not classified as a key pollutant discharge unit and adheres to various environmental protection laws[136]. Future Outlook - The macroeconomic outlook for 2023 indicates a steady recovery, with a focus on stabilizing sales volume and prices in the real estate market[82]. - The company aims to implement a three-year action plan from 2023 to 2025 to guide its development strategy[83]. - The company anticipates further optimization of policies in first-tier cities, including potential reductions in mortgage rates and down payment ratios[81]. - The company expects to see a gradual stabilization in the second-tier city real estate market as the pandemic situation improves[82]. - The company plans to enhance its investment decision-making process by closely monitoring industry dynamics and market conditions[85].