SHCD(SH:603887)2022-04-29 16:00Financial Performance - The company's operating revenue for the reporting period was ¥2,907,173,612.63, a decrease of 26.09% compared to the same period last year[5]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥638,244,253.32, a decline of 273.64% year-on-year[5]. - The company's operating revenue for 2021 was ¥2,907,173,612.63, a decrease of 26.09% compared to ¥3,933,403,130.76 in 2020[20]. - The net profit attributable to shareholders for 2021 was -¥605,253,630.68, representing a decline of 254.14% from a profit of ¥392,666,060.95 in 2020[21]. - The net cash flow from operating activities for 2021 was -¥287,328,583.29, a decrease of 190.14% compared to ¥318,743,856.51 in 2020[21]. - The total assets at the end of 2021 were ¥7,711,353,235.20, down 10.18% from ¥8,585,552,594.89 at the end of 2020[21]. - The net assets attributable to shareholders at the end of 2021 were ¥3,413,705,055.68, a decrease of 15.84% from ¥4,056,118,065.74 at the end of 2020[21]. - The revenue after deducting non-main business income for 2021 was ¥2,894,366,445.39, down 26.23% from ¥3,923,419,582.55 in 2020[20]. Impairments and Provisions - The company recognized goodwill impairment of ¥630,898,200 due to underperformance of its subsidiary, Xiangjiang Technology[5]. - Total provisions for bad debts and impairments amounted to approximately ¥160 million, significantly impacting the profit for the reporting period[5]. - The total guarantee amount (including guarantees to subsidiaries) was 1.5465 billion RMB, accounting for 45.30% of the company's net assets[178]. - The total guarantee amount for subsidiaries during the reporting period was 1.3265 billion RMB[178]. Business Challenges - The construction business was adversely affected by liquidity risks from downstream developers such as Evergrande Group and Taihe Group[5]. - The IDC business faced delays in project payments from clients like Huitian and Nanfaxin, affecting accounts receivable[5]. - The company faced challenges in its foundation and construction business due to the "three red lines" policy, leading to a cautious approach in business expansion and strict risk assessment of bidding parties[32]. - The company experienced a 66.54% increase in net cash flow from investing activities, amounting to -659,645,172.53 RMB, primarily due to increased investment in the Taicang data center project[58]. Strategic Initiatives - The company is focused on developing new technologies and products, including cloud gaming and digital twin technologies, to enhance user experience and market competitiveness[12]. - The company plans to expand its market presence through strategic partnerships and potential acquisitions in the technology sector[12]. - The company aims to optimize its operational efficiency and reduce costs in response to the declining revenue trend[20]. - The company is committed to sustainability initiatives, including the promotion of green energy certificates to enhance its corporate social responsibility profile[12]. Research and Development - During the reporting period, the company applied for 99 patents, including 23 invention patents, with R&D investment amounting to 12,192.78 million yuan, accounting for 4.19% of revenue[35]. - The company's R&D investment amounted to 12,192.78 RMB, accounting for 4.19% of its operating revenue[55]. - The company has initiated 27 R&D projects, with a total investment of CNY 5,000 million across various innovative solutions[76]. Governance and Compliance - The board of directors and management have confirmed the accuracy and completeness of the annual report[6]. - The company has established a governance structure ensuring all shareholders can exercise their rights and have access to information regarding major company matters[106]. - The company strictly adheres to information disclosure regulations, ensuring timely and accurate reporting of relevant information[105]. - The independent directors and supervisors have fulfilled their responsibilities in overseeing the company's financial and operational compliance[105]. Shareholder and Management Information - The chairman and CEO, Xie Xiaodong, increased his shareholding by 7,413,566 shares, bringing his total to 89,551,395 shares[109]. - The total pre-tax remuneration for the chairman and CEO was 127.95 million yuan during the reporting period[109]. - The company has a structured performance-based remuneration system for its directors and senior management, linked to economic indicators[114]. - The company held a total of 4 shareholder meetings during the reporting period, including 1 annual and 3 extraordinary meetings[107]. Market Position and Future Outlook - The company expects a revenue growth of 20% for the next fiscal year, projecting total revenue to reach 6 billion yuan[155]. - New product launches are anticipated to contribute an additional 500 million yuan in revenue in 2022[155]. - The company plans to invest 300 million yuan in new technology development over the next two years[155]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2023[155].