GREATTOWN(SH:900940)2020-04-24 16:00Financial Performance - In 2019, the company achieved a net profit attributable to shareholders of RMB 743,559,126.35, representing a year-on-year increase of 35.03%[5] - The total operating revenue for 2019 was RMB 13,043,166,526.70, a decrease of 2.54% compared to 2018[21] - The net cash flow from operating activities increased by 62.73% to RMB 10,300,370,410.00 in 2019[21] - Basic earnings per share increased by 35.01% to CNY 0.3004 in 2019 compared to CNY 0.2225 in 2018[23] - The company's net profit for 2019 was CNY 744 million, representing a year-on-year growth of 31.43%[36] - The total revenue for 2019 reached CNY 13.043 billion, with a basic earnings per share of CNY 0.3004, up 35.01% year-on-year[42] Assets and Liabilities - As of the end of 2019, the total assets amounted to RMB 41,952,591,028.53, a decrease of 12.31% from the previous year[21] - The company's total equity attributable to shareholders reached RMB 12,921,030,428.11, an increase of 6.31% year-on-year[21] - The company's asset-liability ratio stood at 65.98% as of December 31, 2019, with a net asset-liability ratio of 43.09% after excluding advance receipts[33] - The company's total liabilities decreased to ¥27.68 billion from ¥34.59 billion, a reduction of around 20%[198] - The company's equity increased to ¥14.27 billion from ¥13.25 billion, marking an increase of approximately 7.8%[199] Cash Flow - The company maintained a stable cash flow from operations, with net cash flow from operating activities totaling CNY 5,501,240,349.75 in 2019[24] - Cash and cash equivalents increased by 121.18% to ¥3,812,672,749.14, primarily due to sales collections during the period[65] - The company achieved a net operating cash flow of CNY 10.3 billion, representing a 62.73% increase compared to the previous year[179] Dividends and Profit Distribution - The company plans to distribute a cash dividend of RMB 0.3 per 10 shares, totaling RMB 74,259,751.71[5] - The company reported a cumulative undistributed profit of RMB 4,313,722,720.47 at the end of 2019[5] - The company has achieved a cumulative cash dividend of RMB 272.29 million over the past three years, representing 30.18% of the average annual distributable profit of RMB 902.07 million[95] Strategic Focus and Market Position - The company focused on urban expansion in key cities, particularly in the Yangtze River Delta and Southeast coastal regions, enhancing its brand influence[34] - The company aims to focus on first and second-tier cities, emphasizing the acquisition of projects in key urban clusters, particularly in the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area[86] - The company plans to shift from an internal growth model to a balanced approach that includes both internal and external growth strategies[87] Financing and Debt Management - The company adopted a cautious financing strategy, balancing equity and debt financing to maintain low financing costs[33] - The company’s comprehensive financing cost was maintained at 8.16%, despite rising financing costs in the industry[49] - The company maintained a debt-to-asset ratio of 65.98%, a decrease of 6.32 percentage points from the previous year, indicating a stable financial position[42] Operational Efficiency and Management - The company will enhance its operational efficiency by implementing investment, operational, and branding strategies to improve overall management capabilities[90] - The company has established a competitive compensation system to attract and retain talent, focusing on performance-based incentives[153] - The company has implemented a stock incentive plan to motivate key management personnel through high income and high incentives[153] Risk Management and Compliance - The company does not foresee any significant risks that could materially affect its operations during the reporting period[7] - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties[7] - The company has no significant litigation or arbitration matters during the reporting period[108] Shareholder Information - The total number of common shareholders at the end of the reporting period was 65,666, an increase from 56,710 at the end of the previous month[131] - The top ten shareholders held a total of 1,000,000,000 shares, with the largest shareholder, Mingcheng Enterprise Management Group, holding 235,587,483 shares, representing 9.52% of total shares[133] Audit and Governance - The company has a well-structured governance system, ensuring the protection of minority shareholders' rights during voting processes[157] - The audit committee conducted 4 regular meetings and 3 special meetings for annual report audits, with all members participating[161] - The company maintained effective control over insider information, registering and reporting insider information personnel 4 times during the reporting period[158]