GREATTOWN(SH:900940)2023-04-14 16:00Financial Performance - The company achieved a net profit attributable to the parent company of CNY 170,958,318.66 in 2022, with retained earnings at CNY 4,173,874,861.25 by year-end[5]. - The parent company reported a net profit of CNY 94,370,458.67 for 2022, with a statutory surplus reserve of CNY 9,437,045.87, resulting in distributable profits of CNY 1,847,688,838.37 at year-end[5]. - The company plans not to distribute profits or increase capital reserves in 2022, considering macroeconomic conditions and significant capital expenditures for business expansion[5]. - In 2022, the company's operating revenue was approximately ¥7.36 billion, a decrease of 3.91% compared to ¥7.66 billion in 2021[22]. - The net profit attributable to shareholders of the listed company was approximately ¥171 million, a significant recovery from a loss of ¥412 million in 2021[22]. - The net cash flow from operating activities was approximately ¥864 million, down 86.77% from ¥6.53 billion in 2021[22]. - The total assets decreased by 13.32% to approximately ¥34.63 billion from ¥39.95 billion in 2021[22]. - The basic earnings per share for 2022 was ¥0.0715, compared to a loss of ¥0.1668 per share in 2021[23]. - The weighted average return on equity improved to 1.37% in 2022 from -3.20% in 2021[23]. Risk Management - There were no significant risks impacting the company's operations during the reporting period[8]. - The company has outlined potential risks and corresponding countermeasures in the "Management Discussion and Analysis" section of the report[8]. - The company has maintained compliance with decision-making procedures regarding external guarantees[7]. - The management team guarantees the authenticity, accuracy, and completeness of the annual report[7]. - The company has not engaged in non-operating fund occupation by controlling shareholders or related parties[7]. Audit and Compliance - The company received a standard unqualified audit report from Tianzhi International Accounting Firm[4]. - The board of directors held 12 meetings during the reporting period, ensuring compliance with legal and regulatory requirements[90]. - The audit committee convened 9 meetings to enhance financial oversight and risk management[92]. - There were no significant differences between the company's governance practices and regulatory requirements[93]. - The company has not faced any penalties from securities regulatory agencies in the past three years[105]. Operational Efficiency - The company maintained a focus on product quality and adjusted investment strategies to ensure cash flow and financial stability during the challenging real estate market[34]. - The company reported a significant reduction in non-operating losses, with non-recurring gains amounting to approximately ¥71.9 million in 2022[28]. - The company achieved a quarterly revenue of approximately ¥3.77 billion in Q4 2022, contributing to a total annual revenue of ¥7.36 billion[26]. - The company achieved a sales area of 414,700 square meters and a sales amount of 7.595 billion yuan, with cash collection reaching 8.061 billion yuan during the reporting period[35]. - The company focused on cost control, resulting in a decrease in three major expenses, including sales and management costs, contributing to improved profitability[36]. Investment and Financing - The company has initiated a financing plan with a total of 30 billion yuan for issuing A-shares and 20 billion yuan for public bond issuance, which has been approved by the shareholders' meeting[40]. - The company has reduced inventory impairment provisions significantly compared to the previous year, which had recorded approximately 770 million yuan in provisions due to a downturn in the real estate market[36]. - The company reported a pre-receivable amount (contract liabilities) of 10.76 billion yuan by the end of the reporting period, indicating strong cash flow management[39]. - The company plans to issue up to 600,000,000 A-shares, raising a total of no more than RMB 3 billion[158]. - The company has approved a public bond issuance plan with a total scale of no more than RMB 2 billion[159]. Corporate Governance - The company maintains independence from its controlling shareholders, ensuring no interference in operational decisions[93]. - The company has implemented effective insider information management practices to safeguard sensitive information[92]. - The company has proposed to revise several internal governance documents, including the Articles of Association and the Rules of Procedure for Shareholders' Meetings[95]. - The company’s total revenue and profit figures for the year were not disclosed in the provided documents, indicating a focus on governance and strategic planning[95]. Employee and Social Responsibility - The company has a total of 628 employees, with 295 holding a bachelor's degree or higher[116]. - The company has established a salary system benchmarked against local and industry peers to provide a good career platform for employees[117]. - The company has implemented an annual training plan to enhance employees' professional skills and management capabilities[118]. - The company invested CNY 349,000 in public welfare projects, supporting youth development and rural revitalization initiatives[135]. - A total of CNY 240,000 was allocated to poverty alleviation and rural revitalization efforts, focusing on helping vulnerable groups and disaster relief[136]. Legal Matters - The company has ongoing major litigation involving a claim of CNY 35,453,000 related to a stock transfer dispute, with the court ruling in favor of the plaintiff[144]. - The company has been involved in multiple legal cases, including a significant case where it was ordered to pay 35,825,344.94 RMB plus interest of 231,272.50 RMB to China State Construction Engineering Corporation[147]. - The Shanghai High People's Court dismissed the retrial application from Lanzhou High-Tech, indicating a favorable outcome for the company in ongoing litigation[145]. - The company has not faced any impact on its current or future profits from the ongoing lawsuits as of the report date[145]. - The company continues to monitor its legal proceedings closely, ensuring that they do not adversely affect its financial performance[145].