*ST新联(000620) - 2020 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2020 was ¥7,083,884,205.43, a decrease of 40.91% compared to ¥11,988,457,548.33 in 2019[24] - The net profit attributable to shareholders for 2020 was a loss of ¥1,285,505,522.46, representing a decline of 258.72% from a profit of ¥809,930,745.43 in 2019[24] - The net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of ¥1,367,914,617.83, down 366.64% from a profit of ¥513,023,755.33 in 2019[24] - The basic and diluted earnings per share for 2020 were both -0.68 CNY, a decrease of 258.14% compared to 0.43 CNY in 2019[28] - The total assets as of the end of 2020 were 50,391,037,662.63 CNY, representing a decrease of 5.03% from 53,062,284,910.39 CNY at the end of 2019[28] - The net profit attributable to shareholders of the listed company for 2020 was -324,960,862.45 CNY, compared to -287,399,908.38 CNY in 2019[34] - Total revenue for 2020 was ¥7,083,884,205.43, a decrease of 40.91% compared to ¥11,988,457,548.33 in 2019[75] - Revenue from property sales was ¥5,292,063,785.70, accounting for 74.71% of total revenue, down 41.94% from ¥9,115,402,115.56 in 2019[75] - The company reported a significant decline in revenue from the cultural tourism sector, which generated ¥1,112,468,277.98, down 44.78% from ¥2,014,508,411.08 in 2019[75] Cash Flow and Financing - The net cash flow from operating activities for 2020 was ¥3,115,417,242.92, an increase of 4.18% compared to ¥2,990,357,620.20 in 2019[24] - The total cash inflow from operating activities decreased by 30.38% to ¥9,818,752,461.94 compared to ¥14,104,290,150.03 in the previous year[91] - The total cash outflow from investing activities decreased significantly by 78.75% to ¥387,769,474.25 from ¥1,824,860,354.81[91] - The total cash inflow from financing activities decreased by 65.97% to ¥5,059,377,065.18 compared to ¥14,868,174,624.04 in the previous year[91] - The net cash flow from financing activities showed a significant increase of 61.99%, resulting in a net outflow of ¥3,275,922,887.03[91] - The company's cash and cash equivalents decreased by 43.67% to a net increase of ¥-394,231,812.79 from ¥-699,886,429.69[91] - The financing balance from bank loans was ¥12,797,395,738.25 with an average financing cost of 4.35%-9.5%[71] - Total financing from trust financing was ¥4,561,900,000.00, with a cost range of 7.5%-12.4%[71] Operational Challenges - The audit report indicated significant uncertainties regarding the company's ability to continue as a going concern[6] - The company has faced challenges in maintaining profitability, with negative net profits reported for the last three accounting years[27] - The company faced liquidity challenges due to the COVID-19 pandemic, leading to overdue debts and some assets being frozen, but the overall impact on operations was limited[52] - The company has ongoing projects with a total investment amount of 2.6 billion yuan, with significant progress in various locations including Hainan and Hunan[61] - The company is required to repay a total of RMB 248.55 million under the entrusted debt investment agreement, including principal, interest, and penalties[173] - The company has experienced financial difficulties, leading to overdue financial debts and some assets being frozen or involved in litigation[179] Strategic Focus and Future Plans - The company is focusing on cultural tourism project operations and management as part of its business strategy[22] - The company plans to expand its market presence and enhance product offerings in the coming year[74] - The company plans to use the undistributed profits primarily for debt repayment and daily operations to ensure stable development[139] - The company aims to enhance its internal control mechanisms and risk management capabilities in response to the challenges posed by its strategic layout in the cultural tourism and real estate sectors[124] - The company plans to deepen enterprise reform and enhance governance to improve operational efficiency[123] - The company will implement targeted marketing strategies based on market and policy changes to ensure stable development in real estate sales[121] Project Development and Sales - The company achieved a signed sales area of 534,600 square meters and a sales amount of 7.119 billion yuan during the reporting period, providing essential support amid significant pandemic and market downturn impacts[54] - The company reported a construction area of 2.38 million square meters and a completion area of 586,700 square meters in 2020, ensuring timely delivery of projects[55] - The cumulative pre-sale area for the Huizhou Xinhua Lian Plaza project is 410,226.49 square meters, with a pre-sale amount of 73.97 million yuan in the current period[66] - The company is actively expanding its market presence with multiple ongoing projects across various regions, including residential, commercial, and tourism developments[62] - The company reported a significant increase in pre-sale amounts across various projects, indicating strong market demand and effective sales strategies[62] Governance and Compliance - The board of directors acknowledged a non-standard audit report and emphasized the need for measures to improve operational and financial conditions[156] - The company has committed to improving its governance structure and management capabilities to prevent significant operational risks[124] - The company has established a three-year shareholder return plan (2020-2022) to ensure a stable dividend policy and protect the rights of minority shareholders[139] - The company has received a total of 19 inquiries from investors during the reporting period, indicating active engagement with stakeholders[134] Social Responsibility - The company actively engaged in social responsibility initiatives, including donations and rent reductions for affected small businesses during the pandemic[57]