财信发展(000838) - 2021 Q4 - 年度财报

Financial Performance - The company reported a plan not to distribute cash dividends or issue bonus shares for the year[5]. - The company's operating revenue for 2021 was ¥5,054,680,257.08, a decrease of 16.48% compared to ¥6,051,713,044.33 in 2020[22]. - The net profit attributable to shareholders was -¥739,644,958.59, representing a decline of 737.94% from a profit of ¥115,941,869.46 in 2020[22]. - The net profit after deducting non-recurring gains and losses was -¥754,164,546.83, a decrease of 1,637.43% compared to ¥49,053,491.76 in 2020[22]. - The total assets at the end of 2021 were ¥14,778,358,917.15, a decrease of 18.68% from ¥18,173,585,445.03 at the end of 2020[23]. - The net assets attributable to shareholders decreased by 38.76% to ¥1,205,103,274.39 from ¥1,967,846,235.40 at the end of 2020[23]. - The company reported a diluted earnings per share of -¥0.6721, a decline of 737.67% from ¥0.1054 in 2020[23]. - Total revenue for 2021 was ¥5,054,680,257.08, a decrease of 16.48% compared to ¥6,051,713,044.33 in 2020[52]. - Real estate sales accounted for ¥4,864,631,099.77, representing 96.24% of total revenue, down 18.31% from ¥5,954,627,774.13 in 2020[52]. - The company reported a net profit contribution from the equity sale amounting to 1.34% of total net profit[82]. - The company reported a net profit of no less than 1,000 million yuan for 2019, 1,500 million yuan for 2020, and 2,000 million yuan for 2021 as part of its performance commitment[153]. - The net profit attributable to the parent company for the year 2021 was 3,105.25 million yuan, exceeding the commitment amount by 1,105.25 million yuan[155]. Business Operations - The company's main business includes real estate development and sales of self-developed properties[21]. - The company has a cumulative land reserve of 299,000 square meters, with a remaining developable area of 354,200 square meters[43]. - The company signed sales area of 712,000 square meters, with a sales amount of 611,933 million yuan[43]. - The total new construction area for the year was approximately 366,900 square meters, while the completed area was about 746,200 square meters[43]. - The company is actively communicating with the government regarding the Dazhuo Caixin project, which is currently on hold pending planning clarifications[45]. - The company is managing the overall operations of the Dazhu Film and Television Cultural Company project, with a commitment to complete its deregistration by the end of 2025[97]. - The company has established measures to avoid competition with its subsidiaries by ensuring they do not acquire new real estate development projects[97]. - The company has committed to complete the performance compensation for the years 2018, 2019, and 2020, with specific profit commitments for each year[153]. Environmental Responsibility - The company has a commitment to environmental and social responsibility, as outlined in its report[5]. - The environmental protection segment generated total revenue of 17,394 million yuan, with a net profit of 2,782 million yuan[43]. - The company has implemented measures to ensure all emissions are within regulatory standards, with no reported exceedances[140]. - The company continues to monitor and report on its environmental impact, ensuring compliance with national pollution discharge standards[139]. - The company reported a chemical oxygen demand (COD) discharge of 1.868 tons, which is within the standard limit of 200 mg/L[139]. - The company has committed to avoiding direct or indirect competition with its subsidiaries in the environmental sector, ensuring compliance with regulatory requirements[99]. Risk Management - The company faced significant risks and has outlined corresponding countermeasures in its management discussion section[4]. - The company’s future development outlook includes addressing risks and implementing new strategies[4]. - The company faces significant risks in the real estate sector, including policy risks, pandemic risks, and financing risks, and will continue to expand financing channels and strengthen relationships with upstream and downstream partners[87]. Corporate Governance - The financial report has been confirmed by the board and management to be true, accurate, and complete[3]. - The company has established a complete and clear internal governance structure, complying with relevant laws and regulations, with no significant discrepancies in governance practices[93]. - The company operates independently from its controlling shareholder, maintaining separation in business, personnel, assets, and finance, ensuring autonomous operational capabilities[94]. - The company has maintained a stable shareholding structure with no significant changes in shareholdings reported during the period[104]. - The company has not reported any penalties from regulatory authorities for its directors or senior management in the last three years[110]. Employee and Management - The company had a total of 305 employees at the end of the reporting period, with 160 in technical roles and 57 in sales[124]. - The company implemented an optimized incentive system and adjusted the salary structure in 2021 to enhance the correlation between employee compensation and company performance[125]. - The company’s management team includes experienced professionals from various sectors, enhancing its operational capabilities[105]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to RMB 1,289.51 million[112]. Market Trends - The company faced significant challenges in the real estate market, with a rapid decline in transaction volumes and price drops in major cities[34]. - In 2021, the national commodity housing sales area reached 1.79 billion square meters, a year-on-year increase of 1.9%, with sales revenue of 18.2 trillion yuan, up 4.8% year-on-year, marking a historical high for both metrics[35]. - The average transaction floor price of land continued to rise, increasing by 11% year-on-year, with total land transfer fees amounting to approximately 2.6 trillion yuan, up 8% year-on-year[35]. Financing and Investments - The company has a total financing balance of 172,275,280 yuan, with bank loans accounting for 144,528,250 yuan at an average financing cost of 8.00%[48]. - The company provided guarantees for bank mortgage loans to homebuyers amounting to 209,906,010 yuan, with no significant payment obligations affecting net profit[48]. - The company has engaged an auditing firm to conduct audits of the acquired company within six months after the end of each fiscal year during the commitment period[153]. Shareholder Engagement - The company held several shareholder meetings with participation rates ranging from 0.26% to 61.92% throughout 2021, indicating varying levels of investor engagement[100]. - The company has not reported any significant management projects that contributed over 10% to the total profit for the reporting period[1].