YT(SH:600692)2022-04-11 16:00Financial Performance - The company's total revenue for 2021 was CNY 1,506,058,018.97, representing a 50.23% increase compared to CNY 1,002,509,078.30 in 2020[23]. - The net profit attributable to shareholders for 2021 was CNY 45,610,933.61, a decrease of 22.25% from CNY 58,662,092.55 in 2020[23]. - The company's operating revenue increased by 50.23% in 2021 compared to 2020, primarily due to the recognition of real estate sales revenue, which rose by 180 million RMB[25]. - Net profit attributable to shareholders decreased by 22.25% year-on-year, mainly due to a decline in profits from the real estate business[25]. - Basic earnings per share decreased by 22.24% to 0.1297 RMB per share in 2021 compared to 2020[25]. - The weighted average return on equity decreased by 1.84 percentage points to 5.05% in 2021[25]. - The company reported a net profit of 31.20 million RMB in Q4 2021, showing a significant increase compared to previous quarters[29]. - The company achieved operating revenue of CNY 1,506,058,018.97, representing a year-on-year increase of 50.23%, while the net profit attributable to shareholders was CNY 45,610,933.61, a decrease of 22.25%[40]. - The company's total revenue for 2021 reached ¥1,506,058,018.97, a significant increase of 50.3% compared to ¥1,002,509,078.30 in 2020[171]. - The net profit for 2021 was ¥45,214,501.18, a decrease of 30.8% from ¥65,369,134.07 in 2020[172]. Cash Flow and Financial Position - The net cash flow from operating activities was negative at CNY -166,013,208.58, a decline of 123.35% compared to CNY 710,976,812.41 in 2020[23]. - The company's cash flow from operating activities showed a net outflow of CNY -166,013,208.58 in 2021, compared to a net inflow of CNY 710,976,812.41 in 2020[178]. - The cash flow from investing activities resulted in a net outflow of CNY -65,256,899.69 in 2021, compared to a net outflow of CNY -19,794,071.20 in 2020[179]. - The cash flow from financing activities generated a net inflow of CNY 97,597,765.44 in 2021, contrasting with a net outflow of CNY -570,207,481.46 in 2020[179]. - The company's cash and cash equivalents at the end of 2021 were CNY 453,974,339.43, down from CNY 587,646,682.26 at the end of 2020[179]. - The overall debt ratio was 62.75%, a decrease of 3.62 percentage points from the previous year, indicating a stable financial position[40]. - Total current assets decreased from ¥2,306,858,781.65 in 2020 to ¥1,996,912,057.48 in 2021, a decline of approximately 13.4%[164]. - Total liabilities decreased from ¥1,870,427,708.74 in 2020 to ¥1,651,118,639.96 in 2021, a reduction of about 11.7%[166]. - The company's total equity increased from ¥947,631,087.15 in 2020 to ¥980,249,819.63 in 2021, reflecting a growth of approximately 3.5%[166]. Assets and Investments - The total assets at the end of 2021 were CNY 2,631,368,459.59, a decrease of 6.62% from CNY 2,818,058,795.89 at the end of 2020[24]. - The company's net assets attributable to shareholders increased by 5.11% to CNY 925,831,476.31 at the end of 2021, compared to CNY 880,816,311.40 at the end of 2020[24]. - The total construction area of residential buildings in Shanghai reached 166.28 million square meters, a 5.6% increase year-on-year, with new construction area up by 11.8%[37]. - The average sales price of new residential buildings in Shanghai was 40,974 yuan per square meter, with significant regional price variations[37]. - The book value of inventory was RMB 1,160.995 million, with real estate development projects' inventory value at RMB 1,137.176 million, making up 43.22% of the total assets[155]. Dividends and Profit Distribution - The company did not propose any cash dividends or stock bonuses for 2021 due to negative cash flow from operating activities and significant funding needs for ongoing projects[6]. - The company has established a cash dividend policy emphasizing stable and continuous returns to investors, particularly small and medium-sized investors[103]. - The company's profit distribution policy requires board approval and independent director opinions before implementation[103]. - The company has a cash dividend policy that mandates a minimum cash dividend of 30% of the distributable profits for the corresponding year, provided cash flow conditions are met[105]. - In the event of not proposing a cash dividend despite profitability, the company must disclose the reasons and the intended use of retained earnings, with independent directors providing opinions[106]. Governance and Compliance - The company is committed to ensuring the accuracy and completeness of its financial reports as stated by its management[5]. - The company is committed to enhancing its governance structure, ensuring that all major decisions are approved by the board and shareholders[77]. - The company has not reported any significant differences in governance compared to regulatory requirements, ensuring compliance with laws and regulations[79]. - The company has established measures to ensure the independence of its operations from controlling shareholders[79]. - The company has not engaged in any related party transactions that would affect its independence[79]. - The audit report confirms that the financial statements fairly reflect the company's financial position as of December 31, 2021[150]. Risks and Future Plans - The company has outlined potential risks including policy, market, operational, and financial risks in its report[10]. - The company is facing significant risks, including policy risks from ongoing real estate market adjustments and financial pressures due to its capital-intensive nature[75]. - The company plans to focus on maintaining normal business operations and sustainable development in the upcoming year[6]. - The company plans to continue expanding its real estate projects and improve cash flow management to mitigate financial pressures[25]. - The company is exploring new industries such as green energy, with a focus on distributed photovoltaic development and carbon trading opportunities[72]. Employee and Management - The company reported a total of 722 employees, with 91 in the parent company and 631 in major subsidiaries[100]. - The employee composition includes 486 production personnel, 60 sales personnel, 75 technical personnel, 60 financial personnel, and 41 administrative personnel[100]. - The company’s training plan includes regular business-related training for various departments and participation in professional training organized by regulatory bodies[102]. - The company emphasizes performance-based remuneration, with year-end bonuses contingent on annual assessments[90]. - The company is actively recruiting and developing talent to meet the demands of its transformation and growth strategies[74]. Social Responsibility and Environmental Initiatives - The company is actively pursuing environmental initiatives, including a zero wastewater discharge policy at its concrete production facility[35]. - The company engaged in social responsibility initiatives, contributing a total of RMB 158,200 for community support in 2021[114]. - The company has maintained compliance with labor laws, ensuring employee rights and health are prioritized[114].