RiseSun(SZ:002146)2022-04-29 16:00Financial Performance - The company's operating revenue for 2021 was ¥47.24 billion, a decrease of 33.94% compared to ¥71.51 billion in 2020[28]. - The net profit attributable to shareholders was a loss of ¥4.96 billion, down 166.06% from a profit of ¥7.50 billion in 2020[28]. - The basic and diluted earnings per share were both -¥1.14, a decline of 165.90% compared to ¥1.73 in 2020[28]. - The total assets at the end of 2021 were ¥292.78 billion, reflecting a 1.44% increase from ¥288.61 billion at the end of 2020[28]. - The weighted average return on equity was -12.24%, a decrease of 28.21% from 15.97% in 2020[28]. - Total revenue for 2021 was ¥47,243,953,559.70, a decrease of 33.94% compared to ¥71,511,321,744.91 in 2020[143]. - Real estate sector revenue accounted for ¥40,056,098,386.53, representing 84.79% of total revenue, down 35.47% from the previous year[147]. - Revenue from property services increased by 49.38% to ¥1,674,947,416.62, while hotel operations revenue rose by 8.27% to ¥735,896,420.13[143]. - The company’s inventory increased by 4.44% to ¥18,900,805,290.00 compared to ¥18,437,493,460.00 in 2020[148]. - The total operating cost for 2021 was ¥38,490,000,000.00, down 25.80% from ¥51,800,000,000.00 in 2020[151]. Cash Flow and Financing - The net cash flow from operating activities increased significantly to ¥16.92 billion, up 1,137.70% from ¥1.37 billion in 2020[28]. - Operating cash inflow for 2021 was CNY 96.67 billion, a decrease of 3.72% compared to 2020[171]. - Cash flow from financing activities saw a substantial decline, with inflow dropping by 49.27% to CNY 35.79 billion[171]. - The net increase in cash and cash equivalents decreased by 482.02% to a negative CNY 9.79 billion, mainly due to loan repayments[171]. - The company's total assets included CNY 19.70 billion in cash, accounting for 6.73% of total assets, down from 10.95% in the previous year[174]. - The financing structure includes bank loans of CNY 29.60 billion, bonds of CNY 10.66 billion, and other financing of CNY 15.23 billion[122]. - The average financing cost ranges from 3.8% to 11.07% for bank loans, 7.18% to 8.95% for bonds, and 6.18% to 12% for other financing[122]. Market and Operational Challenges - The company faces significant management risks due to the capital-intensive nature of the real estate industry and potential cash flow issues from market fluctuations[6]. - The company faced uncertainty regarding its ability to continue as a going concern, as indicated by negative net profits in recent years[31]. - The real estate market showed signs of cooling in the second half of 2021, with a notable decline in sales area by 14.9% compared to the previous year[47]. - The company’s financing environment remained tight, with new RMB loans for real estate at 3.8 trillion yuan in 2021, the lowest level since 2016[59]. - The company reported a significant decline in revenue from industrial parks, which fell by 48.43% to ¥2,765,412,332.33[143]. Project Development and Management - The company completed construction of 6.27 million square meters, fulfilling 87.30% of the initial construction plan, while starting construction on 4.88 million square meters, achieving 99.31% of the planned starts[69]. - The company acquired land in 16 cities, totaling 29 plots with a planned construction area of 3.03 million square meters, resulting in a total land reserve of 34.69 million square meters by the end of the reporting period[70]. - The company has ongoing projects with a total saleable area of 3,200,000 square meters across various cities, including Shenyang, Dezhou, and Jinan[104]. - The company has established a project layout covering over 70 cities across 16 provinces, 2 municipalities, and 1 autonomous region, involving more than 300 real estate projects[135]. - The company has implemented a standardized management system for residential facades, enhancing the applicability and feasibility of standardized designs[140]. Strategic Focus and Future Plans - The company plans to adapt to new market conditions and pursue long-term, stable, and quality development in the real estate sector[189]. - The strategic goal for 2022 is to ensure project delivery, maintain credit safety, and enhance brand reputation[193]. - The company aims to strengthen its core business in urban real estate while extending its main operations and ensuring stable cash flow[194]. - The company plans to enhance its research and development capabilities to improve product value and cost advantages[194]. - The company is committed to enhancing its operational capabilities across five areas: expansion, product, marketing, financing, and service[191]. Customer Engagement and Satisfaction - The company achieved a customer satisfaction rate above the industry average, ranking 17th among the top 100 enterprises and 14th in brand value among the top 100[79]. - The company’s product quality improved, with a higher proportion of projects rated four stars or above, and received multiple national awards for its developments[74]. - The company has reported a significant increase in user data, with a 15% rise in customer inquiries for new properties compared to the previous year[102].