CMSK(SZ:001979)2020-04-20 16:00Financial Performance - The company's operating revenue for 2019 was ¥97.67 billion, an increase of 10.64% compared to ¥88.28 billion in 2018[9]. - The net profit attributable to shareholders for 2019 was ¥16.03 billion, reflecting a growth of 5.20% from ¥15.24 billion in 2018[9]. - The basic earnings per share for 2019 was ¥1.99, a rise of 5.29% compared to ¥1.89 in 2018[9]. - The net cash flow from operating activities increased by 31.82% to ¥13.81 billion, up from ¥10.48 billion in the previous year[10]. - Total assets at the end of 2019 reached ¥617.69 billion, marking a 45.95% increase from ¥423.22 billion at the end of 2018[9]. - The net assets attributable to shareholders increased by 24.95% to ¥94.85 billion, compared to ¥75.91 billion in 2018[9]. - The weighted average return on equity for 2019 was 21.38%, a decrease of 0.84 percentage points from 22.22% in 2018[9]. - The comprehensive funding cost for the company in 2019 was 4.92%[31]. - The company was ranked 379th in the "2019 Forbes Global 2000" list, improving by 30 places from 2018[32]. Dividend Distribution - The company plans to distribute a cash dividend of ¥8.30 per 10 shares, based on a total of 7,738,173,021 shares as of April 17, 2020[1]. - The cash dividend for 2019 represents 40.06% of the net profit attributable to ordinary shareholders, which is 16,033,175,796.35 CNY[128]. - The total cash dividend, including other methods such as share buybacks, amounts to 10,422,683,084.02 CNY, accounting for 65.01% of the net profit[128]. - The company has maintained a consistent dividend distribution policy, ensuring transparency and compliance with regulations[125]. Project Development and Investments - The company has expanded its cruise port network across coastal cities, aiming to create a domestic cruise brand with global influence[17]. - The company is focusing on upgrading urban functions and enhancing living standards through diverse residential products, including villas and high-end apartments[18]. - The company aims to replicate its successful development model in "Belt and Road" countries, promoting urbanization and industrial innovation[17]. - The company acquired 79 projects covering a land area of 7.16 million square meters, with a total land price of CNY 97.6 billion and an equity land price of CNY 52.3 billion[28]. - The company has ongoing projects with significant investments, including 428,150.00 in Beijing Zhenlongfu and 337,791.42 in Suzhou Financial Town, both in the construction phase[94]. - The company is actively expanding its market presence with new projects in cities like Xuzhou, Yangzhou, and Qingdao, targeting residential and commercial sectors[44]. Market Strategy and Focus - The company is focusing on a comprehensive development model, known as the "PPC model," which integrates investment, financing, construction, management, and exit strategies[26]. - The company emphasizes innovation as a key driver for its strategic implementation, focusing on project co-investment and management reforms[23]. - The company aims for sustainable development over the next 40 years, adapting to changes in the traditional real estate industry[26]. - The company is committed to providing rental discounts and support to clients affected by the COVID-19 pandemic[119]. - The company acknowledges the long-term impacts of the pandemic on various industries and is adapting its strategies accordingly[119]. Financial Management and Risks - The company reported a total financing balance of CNY 139.75 billion, with bank loans constituting CNY 94.98 billion[62]. - The company provided mortgage guarantees totaling approximately CNY 27.12 billion, with no significant losses incurred from these guarantees[63]. - The company faces risks from macroeconomic changes, government policy adjustments, and uncertainties in the development of industrial new towns[121]. - The company has a structured approach to handle any breaches of commitment, including potential salary reductions for responsible executives[132]. Corporate Governance and Compliance - The company strictly fulfilled all public commitments made regarding the issuance of A-shares and the merger with China Merchants Property, ensuring compliance with legal and regulatory requirements[131]. - The company has established measures to address any failure to fulfill commitments, including public apologies and potential compensation to investors[132]. - The company guarantees that all information provided during the restructuring process is true, accurate, and complete, with no false records or significant omissions[138]. - The company has maintained good integrity over the past 36 months, with no major credit defaults or administrative penalties from the China Securities Regulatory Commission[138]. Research and Development - The company's research personnel increased to 249, a 232.00% increase compared to the previous year, with R&D personnel accounting for 0.51% of total employees[78]. - Research and development expenses rose by 71.38% to 5,239.32 million, attributed to changes in the consolidation scope and increased R&D investment[77]. Real Estate Market Trends - The real estate industry in China saw a 6.5% year-on-year increase in total sales amount, while the sales area decreased by 0.1% in 2019[25]. - The overall supply of commercial housing is approaching excess, with limited potential for large-scale demand surges in the market[118]. - The company anticipates that high returns in the real estate sector will decline, with policies emphasizing "housing for living, not speculation" becoming more established[118].