2022-03-30 16:00Financial Performance - In 2021, Vanke Group experienced a decline in net profit for the third time in its 31-year history, following declines in 1995 and 2008[7]. - The proposed cash dividend for 2021 is RMB 11,276,621,873.75, accounting for 50.06% of the net profit attributable to shareholders[3]. - The total number of shares for dividend calculation is 11,625,383,375, resulting in a cash dividend of RMB 9.70 per 10 shares[3]. - In 2021, the company's revenue was CNY 452.8 billion, a year-on-year increase of 8.0%, while net profit attributable to shareholders was CNY 22.5 billion, a decline of 45.7%[8]. - The overall gross margin decreased to 21.8%, down 7.4 percentage points year-on-year, with a total gross profit reduction of CNY 17.6 billion[8]. - Investment income fell by CNY 6.9 billion due to reduced returns from equity investments and asset disposals[8]. - The company's cash flow from operating activities saw a significant decline of 92.27% compared to the previous year[19]. - The net profit attributable to shareholders decreased by 45.75% to approximately ¥22.5 billion in 2021[19]. - The company maintained a net debt ratio of 29.7%, which is low compared to industry standards[30]. - Total interest-bearing debt was CNY 265.96 billion, an increase of 2.9% year-on-year, with long-term debt proportion rising to 78%[30]. - The cash coverage ratio for short-term debt was 2.5 times, improving by approximately 0.2 times from the end of 2020[30]. - The company emphasizes the importance of maintaining a healthy financial status as a bottom-line goal[16]. Strategic Goals and Future Plans - The company aims to stabilize revenue and net profit in 2022, laying the groundwork for future value growth[7]. - The company aims to strengthen cash flow management and optimize debt structure and financing costs in 2022[16]. - The residential property revenue is expected to grow by 25%, while other segments like logistics and commercial operations are also projected to expand significantly[17]. - The company plans to enhance operational efficiency and competitiveness in its service business to support overall profit margins[16]. - The company aims to transition from a "good residential supplier" to an "urban service provider" over the next decade, focusing on property services, logistics, long-term rental apartments, and commercial sectors[12]. - The company plans to enhance its investment quality by focusing on stable markets and strengthening post-investment management practices[94]. - The company intends to expand its service projects to 100 cities by the end of 2022, leveraging its "Wanwuyun City" model[96]. - The company plans to start construction on 19.201 million square meters of new projects in 2022, with an expected completion area of 38.995 million square meters[100]. - The company plans to maintain a leading position in the cold chain industry by improving service efficiency and quality[97]. Operational Performance - The company achieved operating revenue of CNY 452.8 billion in 2021, representing a year-on-year growth of 8.0%[29]. - The company recorded a sales area of 38.08 million square meters and a sales amount of 627.78 billion yuan, representing declines of 18.4% and 10.8% respectively[41]. - The company’s real estate development business generated settlement revenue of 402.27 billion yuan, an increase of 6.6% year-on-year, with a settlement gross margin of 23.0%[43]. - The company achieved a net operating cash inflow of CNY 4.11 billion, marking 13 consecutive years of positive cash flow[83]. - The company has established a strong competitive position in the cold chain storage sector, leading the industry with a total managed area of 1.136 million square meters[14]. - The company has engaged in urban renewal projects, including the transformation of old factories into innovation parks and cultural districts, actively participating in city renewal initiatives[47]. Market Conditions and Challenges - The company recognizes the need for improved operational efficiency and management capabilities in response to increasing market competition[10]. - The total area of newly started residential construction decreased by 11.4% year-on-year, indicating a slowdown in the real estate market[31]. - The average premium rate for residential land transactions was 11%, down 4 percentage points from the previous year[31]. - The logistics industry saw a 12.5% increase in total social logistics costs, reaching CNY 16.7 trillion in 2021[33]. - The company is optimistic about the long-term recovery of the real estate market, supported by government policies aimed at stabilizing the sector[11]. Shareholder Engagement and Governance - The company emphasizes the importance of addressing shareholder concerns and criticisms following the disappointing financial results[7]. - The financial report for 2021 has been audited by KPMG Huazhen and received a standard unqualified opinion[2]. - The report has been prepared in accordance with the Shenzhen Stock Exchange's disclosure requirements[3]. - The company is focused on enhancing internal controls and risk management as part of its governance report[2]. - The report includes forward-looking statements regarding future plans and strategies, which do not constitute a commitment to investors[3].