BEH-P(SH:600791)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was approximately CNY 2.13 billion, representing a 554.86% increase compared to CNY 325.69 million in 2020[21]. - The net profit attributable to shareholders of the listed company was CNY 5.75 million, a significant recovery from a loss of CNY 70.18 million in the previous year[21]. - The net cash flow from operating activities was CNY 2.19 billion, a substantial improvement from a negative cash flow of CNY 611.03 million in 2020[21]. - Basic earnings per share for 2021 were CNY 0.0127, recovering from a loss of CNY 0.1550 in 2020[23]. - The weighted average return on net assets increased to 0.26% from -2.69% in the previous year, indicating improved profitability[23]. - The total profit reached 129 million RMB, marking a turnaround with an increase of 192 million RMB year-on-year[38]. - The company reported a significant increase in income from the merger of Beijing Lifu Real Estate Development Co., Ltd., with a net profit of ¥3,433,876.46 for the current period[48]. - The company reported a net profit of RMB 19.58 million from its subsidiary Ningxia Jingneng Company[74]. - The company’s total comprehensive income for 2021 was CNY 6,481,015.10, recovering from a loss of CNY 73,097,501.14 in 2020[197]. Asset and Liability Management - The total assets as of the end of 2021 were CNY 9,942,029,794.11, slightly up from CNY 9,641,803,610.56 in 2020[193]. - The total liabilities for 2021 were CNY 7,421,822,480.04, compared to CNY 7,388,289,942.95 in 2020, showing a marginal increase[193]. - The company's equity increased to CNY 2,520,207,314.07 in 2021 from CNY 2,253,513,667.61 in 2020, reflecting a growth of approximately 11.8%[193]. - The company's cash and cash equivalents stood at ¥2,495,137,067.07, significantly higher than ¥1,196,522,160.86 in 2020, marking an increase of about 108.55%[187]. - The company's inventory as of December 31, 2021, was ¥16,804,224,554.58, compared to ¥16,072,623,079.29 in 2020, showing an increase of about 4.54%[187]. - The total current liabilities were ¥14,018,998,979.39, an increase from ¥8,470,139,480.42, reflecting a growth of about 65.61%[189]. - The long-term borrowings decreased to ¥2,515,763,061.66 from ¥5,464,907,328.76, a reduction of approximately 54.00%[189]. Investment and Development Activities - The company completed a total construction area of 1.6223 million square meters in 2021, with new construction area of 418,100 square meters and completed area of 378,700 square meters[31]. - The company acquired Beijing Lifu Company, which has a construction land area of 170,900 square meters and a total building scale of 536,900 square meters[32]. - The company and Longfor Company jointly acquired a land parcel in Chaoyang District, Beijing, adding 21,700 square meters of land reserve and a building scale of 47,800 square meters[32]. - The company has ongoing residential projects with a total construction area of 1,000,000 square meters and a total investment amount of RMB 2.5 billion[61]. - The company plans to achieve a total construction area of 1.2878 million square meters in 2022, with new construction area of 47,800 square meters[81]. - The company has ongoing projects in multiple regions, including Beijing and Tianjin, with significant investment amounts and construction areas[61]. Risk Management and Compliance - The company did not face any significant operational risks during the reporting period, ensuring stable business operations[7]. - The company has implemented measures to enhance its corporate governance structure, ensuring compliance with relevant laws and regulations, thereby improving independence and transparency[85]. - The company has strengthened the role of the party committee in guiding corporate governance and decision-making processes[88]. - The company has established a robust internal control system to enhance compliance and operational efficiency[87]. - The company has actively managed insider information, maintaining a registry of individuals with access to sensitive information related to significant events and periodic reports[87]. - The company faces risks related to policy changes, macroeconomic conditions, and cash flow management[82]. Shareholder and Governance Matters - The company plans to distribute a cash dividend of CNY 0.10 per 10 shares, totaling CNY 452.88 million, with the remaining undistributed profits carried forward to the next year[5]. - The company has a cash dividend policy that mandates a minimum distribution of 10% of the distributable profits each year[126]. - The company has approved a three-year dividend return plan for 2021-2023[94]. - The total compensation for the board members and senior management during the reporting period amounted to 645.37 million CNY[98]. - The company has a clear profit distribution policy that aligns with regulatory requirements and emphasizes cash dividends[129]. - The company has committed to avoiding and eliminating competition with its controlling shareholder, Beijing Energy Group, since 2006, with a long-term commitment[139]. Operational Efficiency and Strategic Focus - The company maintained a focus on prudent investment and regional deep cultivation, optimizing project reserves to ensure stable performance[32]. - The company plans to optimize project reserves and enhance operational capabilities to ensure steady growth[36]. - The company has implemented precise marketing strategies to improve inventory turnover and asset recovery[37]. - The company is focusing on expanding its market presence through new projects and strategic investments in the real estate sector[68]. - The company has a structured management team with diverse expertise in finance, law, and engineering, enhancing its operational capabilities[105]. - The company’s management indicated a focus on improving operational efficiency and exploring new market opportunities in future strategies[200].