OCT(SZ:000069)2022-03-30 16:00Financial Performance - The company's operating revenue maintained a double-digit growth despite challenges, with real estate sales exceeding 100 billion RMB and positive net cash flow from operating activities for two consecutive years[2]. - The company's operating revenue for 2021 was CNY 102.58 billion, representing a 25.25% increase compared to CNY 81.87 billion in 2020[17]. - The net profit attributable to shareholders for 2021 was CNY 3.80 billion, a significant decrease of 70.05% from CNY 12.69 billion in 2020[17]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 2.30 billion, down 76.29% from CNY 9.69 billion in 2020[17]. - The net cash flow from operating activities for 2021 was CNY 19.24 billion, a decrease of 9.34% compared to CNY 21.22 billion in 2020[17]. - The basic earnings per share for 2021 were CNY 0.4727, down 69.76% from CNY 1.5633 in 2020[17]. - The total assets at the end of 2021 were CNY 480.06 billion, an increase of 5.14% from CNY 456.59 billion at the end of 2020[17]. - The net assets attributable to shareholders at the end of 2021 were CNY 81.20 billion, reflecting a 3.57% increase from CNY 78.40 billion at the end of 2020[18]. - The company achieved a total contracted sales area of 3.99 million square meters and a contracted sales amount of 82.5 billion yuan during the reporting period[55]. - The company achieved operating revenue of 102.6 billion yuan, a year-on-year increase of 25%[47]. Tourism and Cultural Development - The tourism segment launched over 500 events nationwide, contributing to the recovery of the cultural tourism market, with new attractions like the "Bay Area Light" Ferris wheel and the West Coast Maya Beach Water Park opening in 2021[2]. - The company received recognition as one of the "Top 20 Chinese Tourism Groups" and "Top 30 National Cultural Enterprises," reflecting its strong brand and operational capabilities[2]. - The tourism industry is expected to see a gradual increase in per capita travel frequency, driven by stable income growth and urbanization[4]. - The company aims to enhance product efficiency through innovation and standardization in tourism offerings, leveraging technology for digital transformation[4]. - The integration of cultural and creative elements into tourism products is a strategic focus to enhance visitor experiences[4]. - The company is committed to digital innovation and the application of metaverse concepts to create unique entertainment experiences[4]. - The company launched several new tourism products, including the "Bay Area Light" Ferris wheel, which generated over 100 million yuan in revenue within eight months[52]. - The company’s cultural tourism business includes six major product systems, emphasizing innovation and quality to meet market demands[25]. - The company is focusing on digital transformation, completing its digital transformation strategic planning to enhance management efficiency and support business operations[60]. Real Estate Development - The real estate sector is projected to remain a large industry with over 10 trillion RMB in scale, supported by urbanization and housing quality improvements[4]. - The company intends to improve profitability in real estate development by focusing on core urban areas and high-return projects[4]. - The company is committed to optimizing resource acquisition by strategically selecting quality land parcels in central cities to enhance sustainable development reserves[2]. - The company has successfully obtained asset management licenses in Hong Kong, strengthening its cross-border capital integration capabilities[3]. - The company is focusing on mixed-use developments, as seen in the Ningbo Beilun Binjiang New City project, which has a total price of 293,412.87 million RMB[26]. - The company is actively pursuing land acquisitions through public bidding, ensuring a diversified portfolio of real estate projects[26]. - The company reported a significant increase in land acquisition activities, reflecting its strategic focus on expanding its real estate footprint[27]. - The company plans to enhance its property management services by expanding external business and improving service quality, aiming for a balanced growth in scale and reputation[99]. Financial Strategy and Management - The company plans to distribute a cash dividend of 1 RMB per 10 shares to all shareholders, based on a total of 8,037,758,053 shares[6]. - The company will utilize asset securitization and mergers to enhance financial operations and support business development[4]. - The company achieved a total financing of ¥586.25 billion in 2021, with an average financing cost of 4.46%, which is relatively low compared to industry peers[63]. - The company has expanded its financing channels, including direct financing, bond issuance, and supply chain financing, to support long-term development[63]. - The company reported a financing balance of 14,021,086,000 CNY, with bank loans accounting for 10,089,842,000 CNY at an interest rate range of 2%-6.98%[42]. - The company has a financing cost range for bonds between 3.2%-5.74%, with a total bond financing of 1,300,000,000 CNY[42]. - The company is focusing on expanding its market presence and has proposed financial support for its subsidiaries during the 2021-2022 period[129]. Corporate Governance and Compliance - The company has established a complete and independent operational structure, ensuring separation from its controlling shareholder in business, personnel, assets, and finance[107]. - The company is committed to enhancing investor relations and improving corporate governance standards[106]. - The company has maintained a stable leadership team, with key executives holding their positions until at least April 2023[110]. - The company has not faced any penalties from securities regulatory agencies for directors, supervisors, or senior management in the past three years[125]. - The company is revising its internal control self-evaluation report and governance self-inspection report as part of its compliance strategy[130]. - The company is committed to continuously improving its internal control systems in response to changes in laws and regulations[157]. - The company has established a performance evaluation and incentive mechanism for senior management, with rewards based on the achievement of strategic goals[127]. Market Risks and Challenges - The company faces macroeconomic risks due to increasing uncertainties in both domestic and international economic conditions, which may impact demand and supply in the cultural tourism and real estate sectors[101]. - Market risks are heightened as the real estate industry experiences a downturn, leading to cautious sentiment among buyers and investors, which may create significant performance disparities across different regions and cities[101]. - Policy risks are evident as the real estate sector is heavily influenced by national macro-control policies, with a clear trend towards normalized regulation that may cause short-term fluctuations in market supply, demand, and prices[101]. - The company anticipates challenges in its main business operations due to potential COVID-19 outbreaks, which could lead to reduced visitor numbers and extended sales cycles for real estate projects[101]. Employee and Talent Management - The total number of employees at the end of the reporting period was 24,526, with 12,263 in production and 1,962 in sales[142]. - The company emphasizes a performance-oriented salary system linked to economic efficiency and productivity[143]. - The company is actively developing a third phase of the equity incentive plan to attract and retain talent[144]. - A total of 14 training sessions were conducted, with nearly 1,036 participants and 597 hours of training provided[145]. Sustainability and Social Responsibility - The company actively promotes carbon peak and carbon neutrality initiatives, aligning with national strategies for energy conservation and ecological protection[160]. - The company has exceeded its annual targeted assistance for rural revitalization, helping counties in Guizhou Province make significant progress in agricultural modernization[164]. - The company has established a long-term assistance mechanism for rural revitalization, focusing on cultural resources and sustainable development[165]. - The company emphasizes safety in its theme parks, ensuring all large amusement facilities undergo regular inspections and maintenance[163].