SID(SH:600748)2022-03-30 16:00Financial Performance - The company's operating revenue for 2020 was CNY 7,454,304,680.01, a decrease of 14.39% compared to CNY 8,707,664,293.04 in 2019[21] - The net profit attributable to shareholders for 2020 was CNY 112,512,149.49, representing an 85.22% decline from CNY 761,027,833.01 in 2019[21] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 40,734,486.05, down 94.32% from CNY 716,942,105.38 in 2019[21] - Basic earnings per share for 2020 were CNY 0.03, a decrease of 92.68% compared to CNY 0.41 in 2019[23] - The weighted average return on net assets for 2020 was 0.58%, a decrease of 6.23 percentage points from 6.81% in 2019[23] Cash Flow and Assets - The net cash flow from operating activities increased significantly to CNY 814,435,135.13, a 286.64% increase from CNY 210,644,181.30 in 2019[21] - The total assets at the end of 2020 were CNY 41,082,050,826.99, an increase of 4.53% from CNY 39,301,357,156.06 at the end of 2019[21] - The net assets attributable to shareholders at the end of 2020 were CNY 11,007,244,214.70, an increase of 8.64% from CNY 10,131,531,407.70 at the end of 2019[21] Dividends and Profit Distribution - The company proposed a cash dividend of CNY 1.56 per 10 shares, totaling CNY 287,751,811.15, based on a total share capital of 1,844,562,892 shares as of December 31, 2020[6] - The cash dividend for 2019 was 1.00 RMB per 10 shares, amounting to 184,456,289.20 RMB, which accounted for 23.59% of the net profit attributable to ordinary shareholders[95] - The company has not proposed any cash profit distribution plan for the reporting period despite having positive distributable profits[97] Real Estate Operations - Rental income from real estate operations reached RMB 370 million, with an occupancy rate maintained above 90%[39] - The real estate sales segment generated RMB 4,884,590,529.34 in revenue, down 20.50% year-on-year[45] - The company completed 9 construction projects with a total area of approximately 1.92 million square meters during the reporting period[38] Research and Development - The company’s research and development expenses rose by 31.29% to RMB 67,427,088.08, indicating a focus on innovation[40] - The company applied for 70 R&D patents and received authorization for 10 patents during the reporting period[52] - The proportion of R&D investment to operating income is 0.90%[51] Strategic Initiatives - The company plans to expand its property management services and integrate new industries to enhance profitability and scale[30] - The company aims to strengthen its strategic layout in key regions, focusing on project management efficiency and resource integration[30] - The company will explore opportunities in urban renewal, long-term rental apartments, and senior housing as part of its multi-faceted development strategy[84] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 35,329, compared to 34,952 at the end of the previous month[139] - The largest shareholder, Shanghai Shiyou Development Co., Ltd., holds 896,435,864 shares, representing 48.60% of the total shares[139] - The company does not have any natural person as a controlling shareholder[143] Management and Governance - The company has established a robust corporate governance structure, ensuring clear responsibilities among the shareholders' meeting, board of directors, and supervisory board[174] - The total remuneration for all directors, supervisors, and senior management at the end of the reporting period amounted to RMB 1,082.5 million[165] - The company has maintained a stable management structure with no significant changes in the board of directors or supervisory board during the reporting period[152] Financial Obligations and Ratings - The company's interest coverage ratio decreased by 67.65% from 2.04 in 2019 to 0.66 in 2020[196] - The company maintains a credit rating of AA+ with a stable outlook as per the report from China Chengxin International dated April 10, 2020[199] - The total amount raised from the issuance of bond "20 Shangshi 01" was RMB 800 million, which has been fully utilized as per the prospectus[190]