CASIN(SZ:000838)2022-09-29 16:00Financial Performance - 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[21]. - 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[21]. - 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[21]. - The net cash flow from operating activities was ¥2,891,453,945.76, down 6.99% from ¥3,108,892,077.56 in 2020[21]. - 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[22]. - 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[22]. - The company reported a diluted earnings per share of -¥0.6721, a decline of 737.67% from ¥0.1054 in 2020[22]. - Total revenue for 2021 was ¥5,054,680,257.08, a decrease of 16.48% compared to ¥6,051,713,044.33 in 2020[51]. - 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[51]. - The company reported a cumulative settlement area of 453,044 square meters with a settlement revenue of 17,493,000 yuan from the "Cai Xin City" project in Shizhu County[45]. Business Operations - The company’s main business remains real estate development and sales of self-developed properties[20]. - The company has undergone several changes in its controlling shareholder since its listing, with the current controlling shareholder being Caixin Real Estate since August 2013[20]. - The company has a cumulative land reserve of 299,000 square meters, with a remaining developable area of 354,200 square meters[42]. - The company’s project in Chongqing, "Guoxing·Beian Jiangshan," has a total investment of 5 billion yuan, with a cumulative investment of 5.62 billion yuan[44]. - The company’s project "Mingzhu Community" in Weihai is currently 93.67% completed, with a total investment of 186,611 million yuan[44]. - The company has no new land reserve projects during the reporting period[42]. - The company is managing the development of the "Chongqing Yuzhong City" project, which includes overall operations such as planning, design, construction, sales, and delivery[95]. - The company is currently fulfilling commitments related to the Chongqing Hongxin Investment Co., Ltd. project, aiming for completion by the end of 2024[150]. Environmental and Social Responsibility - The company has a commitment to environmental and social responsibility, as detailed in the report[5]. - The company reported that it has completed the construction of pollution prevention facilities in accordance with environmental impact assessment requirements, and these facilities are operating normally[141]. - The company obtained the latest hazardous waste operation license in September 2021, valid until October 15, 2022[142]. - There were no administrative penalties imposed on the company during the reporting period due to environmental issues[143]. - The company aims to enhance its environmental sustainability initiatives, committing to a 30% reduction in carbon emissions by 2025[106]. Risk Management - The company faced significant risks and has outlined corresponding countermeasures in the management discussion section[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[86]. - The company has established measures to compensate for any losses incurred due to breaches of commitments by its stakeholders within 20 working days[96]. Corporate Governance - The company has established a complete and clear internal governance structure, complying with relevant laws and regulations, ensuring independent operation and decision-making capabilities[93]. - The company has committed to continuously improving its corporate governance to support high-quality development and protect investors' rights[135]. - The company maintained effective internal control over financial reporting as of December 31, 2021, according to the internal control self-assessment report[134]. - The internal control audit report issued a standard unqualified opinion, confirming no significant deficiencies in non-financial reporting[135]. Shareholder Engagement - The company held its first temporary shareholders' meeting on February 22, 2021, with an investor participation rate of 61.92%[99]. - The second temporary shareholders' meeting took place on April 7, 2021, with a participation rate of 61.85%[99]. - The third temporary shareholders' meeting was held on April 21, 2021, with a significantly lower participation rate of 0.44%[99]. - The annual shareholders' meeting for 2020 was conducted on April 30, 2021, with a participation rate of 61.92%[99]. Employee Management - The total number of employees at the end of the reporting period is 305, with 248 from major subsidiaries and 21 from the parent company[123]. - The company has optimized its incentive system and adjusted salary structures in 2021 to enhance the correlation between employee compensation and company performance[124]. - The educational background of employees includes 7 with postgraduate degrees, 147 with bachelor's degrees, and 151 with college diplomas or below[123]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 10% to 1.32 billion CNY[106]. - New product launches are expected to contribute an additional 200 million CNY in revenue next year[106]. - The company plans to implement a new digital platform aimed at improving customer engagement and retention[106]. - The company will focus on a fast turnover model in 2022 to ensure stable operations and enhance risk resistance, aiming for further development through organizational management optimization and professional enhancement[86].