SID(SH:600748)2019-03-26 16:00Financial Performance - The company's operating revenue for 2018 was CNY 8,663,752,406.81, representing an increase of 18.01% compared to CNY 7,341,268,158.02 in 2017[24] - The net profit attributable to shareholders of the listed company decreased by 24.99% to CNY 657,616,922.06 from CNY 876,741,675.25 in the previous year[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 549,071,372.91, down 21.88% from CNY 702,898,004.98 in 2017[24] - Basic earnings per share for 2018 were CNY 0.36, down 25.00% from CNY 0.48 in 2017[28] - The weighted average return on net assets decreased to 6.45%, down 2.75 percentage points from 9.20% in the previous year[28] Cash Flow and Assets - Cash generated from operating activities increased significantly to CNY 2,047,503,235.01, a 196.51% increase from CNY 690,531,389.04 in 2017[24] - The company's total assets at the end of 2018 were CNY 37,432,000,829.41, a decrease of 4.52% from CNY 39,201,975,257.05 in 2017[27] - The net assets attributable to shareholders of the listed company were CNY 9,988,255,603.04, showing a slight decrease of 0.06% from CNY 9,994,546,905.55 in 2017[27] - The company reported a significant decrease in cash and cash equivalents, down 32.92% to ¥6,312,771,530.09, primarily due to increased shareholder loans[75] Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.30 per 10 shares, totaling CNY 55,336,886.76[6] - The remaining undistributed profits amount to CNY 2,277,897,398.77, which will be carried forward to the next fiscal year[6] - The company has implemented a cash dividend policy, ensuring that the cumulative cash distribution over the last three years is at least 30% of the average distributable profit, achieving 30.25% compliance[116] - The company has a history of cash dividends, with the most recent distribution in 2018 being 0.30 RMB per 10 shares, amounting to approximately 55.34 million RMB, which is 8.41% of the net profit[118] Revenue Breakdown - The company's total operating revenue for 2018 was CNY 3,935,001,249.69, with a quarterly breakdown showing Q1 at CNY 1,317,854,544.30, Q2 at CNY 2,450,935,611.26, Q3 at CNY 959,961,001.56, and Q4 at CNY 371,157,517.17[31] - The net profit attributable to shareholders for the year was CNY 371,157,517.17, with Q1 at CNY 131,034,502.21, Q2 at CNY 146,293,228.99, Q3 at CNY 9,131,673.69, and Q4 at CNY 371,157,517.17[31] - The company’s property management segment generated revenue of ¥752,000,000, with a service area of 23 million square meters, and a non-residential property service ratio rising to 43%[53] Strategic Initiatives - The company plans to enhance its core competitiveness by focusing on project management efficiency and integrating resources from strategic partners to accelerate the upgrade of its main business[37] - The company aims to expand its property service sector as a new industry, leveraging technology and management optimization to increase profitability[37] - The company will continue to adopt a "1+3+X" strategic layout centered around Shanghai, aiming to increase its holdings in quality project resources[37] - The company will maintain a focus on innovation in property service models and expand its service scale to enhance overall service quality[37] Market and Industry Insights - The real estate market in China saw a total sales area of 1.717 billion square meters in 2018, a year-on-year increase of 1.3%, while sales value reached CNY 14.99 trillion, up 12.2% year-on-year[40] - The company reported a decrease in the sales area in the eastern and northeastern regions by approximately 5% year-on-year, while the central and western regions showed growth[40] Research and Development - The company’s research and development expenses increased by 26.11% to ¥75,495,073.47, focusing on green, energy-saving, and technological product upgrades[55] - The company applied for 37 patents and received 19 patent authorizations during the reporting period, indicating a focus on innovation[72] Financing and Investments - The company initiated the issuance of ¥1.8 billion corporate bonds to secure low-cost medium to long-term funding in response to favorable market conditions[47] - The company’s investment activities resulted in a net cash outflow of ¥934,585,757.41, indicating a strategic focus on project development despite overall market challenges[55] - The company has a total of RMB 24,700,000 in guarantees, which includes guarantees to shareholders and related parties[156] Related Party Transactions - The company reported an estimated daily related party transaction amount of RMB 409 million for 2018, with actual transactions amounting to RMB 27,139,076.72, representing approximately 6.64% of the estimated amount[142] - The company engaged in various related party transactions, including service fees for leasing, with amounts such as RMB 4,672,461.16 and RMB 3,336,800.04, accounting for 1.26% and 0.90% of similar transaction amounts respectively[142] Corporate Governance - The company has not disclosed any environmental information as it does not fall under the key pollutant discharge units[184] - The company has not faced any risks of suspension or termination of its listing during the reporting period[139] - The company has not made any changes to its accounting policies that would significantly impact its financial statements[130] Social Responsibility - The company has actively engaged in poverty alleviation efforts, spending RMB 200,000 in 2018 as part of its commitment to social responsibility[181] - The company has established a leadership team for targeted poverty alleviation projects in Yunnan Province, focusing on practical and effective initiatives[182]