Cosmos(SZ:002133)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was CNY 7,363,672,620.81, representing a 40.70% increase compared to CNY 5,233,546,724.32 in 2020[26] - The net profit attributable to shareholders for 2021 was CNY 326,261,045.44, which is a 10.70% increase from CNY 294,731,223.42 in 2020[26] - The net profit after deducting non-recurring gains and losses was CNY 305,425,261.56, up 6.95% from CNY 285,571,851.34 in 2020[26] - The total assets at the end of 2021 reached CNY 19,776,536,244.39, a 26.35% increase from CNY 15,652,293,181.29 at the end of 2020[26] - The net assets attributable to shareholders were CNY 3,904,235,614.84, reflecting a 7.26% increase from CNY 3,639,906,103.40 in 2020[26] - The basic earnings per share for 2021 was CNY 0.42, a 10.53% increase compared to CNY 0.38 in 2020[26] - The weighted average return on equity was 8.66%, slightly up from 8.38% in 2020[26] - The net cash flow from operating activities was negative CNY 554,564,588.59, an improvement of 41.04% from negative CNY 940,535,248.63 in 2020[26] Revenue Breakdown - Real estate revenue accounted for ¥3,577,493,540.12, which is 48.58% of total revenue, showing a significant increase of 50.17% from ¥2,382,234,533.96 in 2020[67] - Trade revenue was ¥3,665,575,342.37, making up 49.78% of total revenue, with a year-on-year growth of 33.06% from ¥2,754,829,695.65[67] - The total sales volume in the real estate sector was 27.79 million square meters, down 12.20% from 31.65 million square meters in 2020, but the sales revenue increased by 18.96% to ¥62.55 billion[72] Land Acquisition and Development - The company signed contracts for a sales area of 277,900 square meters, with a total contract value of 6.255 billion yuan, completing 78.2% of the annual sales target[43] - New construction area was 366,400 square meters, while completed area was 458,500 square meters[43] - The company added 4 new land reserves with a planned buildable area of 1.7849 million square meters[43] - The company’s land acquisition area decreased by 15.5% to 21.59 million square meters, while the total land transaction price increased by 2.8% to 177.56 billion yuan[40] - The company acquired a residential land parcel in Shaoxing City with an area of 39,259.00 m² and a total price of CNY 120,400,000, holding a 50% equity interest[45] - A total of 68,822.20 m² of mixed-use land was acquired in New Chang County for CNY 118,450,000, with a 100% equity interest[45] Subsidiary Performance - The subsidiary Yishijuxin reported a net profit growth of 112.17% compared to the previous year[43] - The subsidiary Guangyu Annuo achieved a revenue scale in the elderly care sector that was approximately three times that of the previous year[44] - The company’s subsidiary, Zhejiang Shangdong Real Estate Development Co., Ltd., contributed a net profit of 69,230,817.23 yuan, accounting for over 10% of the company's total net profit[123] - The company’s subsidiary, Zhoushan Longyu Commercial Investment Co., Ltd., reported a net profit of 63,396,857.41 yuan during the reporting period[123] Market and Operational Strategy - The company plans to achieve a contract sales amount of 5.8 billion yuan in 2022, focusing on stable and orderly growth[55] - The company aims to transform from a "city construction developer" to a "city asset operation service provider" in response to industry policy adjustments[55] - The company is expanding its market presence with new land acquisitions and ongoing construction projects across Zhejiang Province[45] - The company aims to enhance its product offerings through the development of new residential and commercial properties in strategic locations[49] Financial Management and Investments - The financing balance from bank loans is approximately 3.690 billion yuan, with an interest rate range of 2.20%-7.20%[54] - The company emphasizes a strategy of not acquiring expensive land or financing, maintaining a healthy cycle of investment and sales[55] - The company has a total of 406.57 million yuan in financing, with a significant portion allocated to short-term loans[54] - The company reported a total investment income of ¥233,510,528.91, which constituted 52.46% of the total profit[84] - The total investment amount for the reporting period was ¥359,483,300.00, a substantial increase of 1701.88% compared to the previous year[93] Governance and Compliance - The company maintains complete independence in business operations, personnel, assets, and financial management, with no interference from the controlling shareholder[137] - The company has established effective communication channels with shareholders, ensuring equal access to important information[134] - The company strictly adheres to relevant laws and regulations, ensuring strong independence and timely information disclosure, with no significant discrepancies from regulatory standards[132] - The company reported no violations of laws or regulations by its directors and senior management during the reporting period[174] Employee and Management Structure - The company has a total of 411 employees, with 101 in the parent company and 310 in major subsidiaries[177] - The employee composition includes 90 sales personnel, 79 technical staff, 33 finance personnel, 68 administrative staff, and 141 others[179] - The company has 28 employees with a master's degree or higher, and 153 with a bachelor's degree[179] - The management team has over 30 years of experience, contributing to the company's strategic development and resource integration capabilities[62] Future Outlook - The company provided guidance for 2022, projecting a revenue increase of 15% to 1.725 billion, driven by new product launches and market expansion efforts[151] - The company plans to implement cost-cutting measures, aiming to reduce operational expenses by 5% in 2022, which is expected to improve overall profitability[151] - The company is expected to see future performance impacts from newly established real estate project companies[125]