RiseSun(SZ:002146)2023-04-28 16:00Financial Performance - The company's operating revenue for 2022 was ¥31.79 billion, a decrease of 32.70% compared to ¥47.24 billion in 2021[24]. - The net profit attributable to shareholders was -¥16.31 billion, representing a decline of 229.16% from -¥4.96 billion in the previous year[24]. - The basic earnings per share for 2022 was -¥3.75, down 228.95% from -¥1.14 in 2021[24]. - Total assets at the end of 2022 amounted to ¥249.57 billion, a decrease of 14.76% from ¥292.78 billion at the end of 2021[24]. - The net assets attributable to shareholders decreased by 41.57% to ¥23.28 billion from ¥39.84 billion in 2021[24]. - The net cash flow from operating activities was ¥2.24 billion, down 86.73% from ¥16.92 billion in 2021[24]. - The company reported that its recent three accounting years' net profits before and after deducting non-recurring gains and losses were both negative, indicating uncertainty in its ability to continue as a going concern[25]. - The company reported a significant loss in non-operating income, with a total of CNY -350.26 million in non-recurring gains and losses for the year[31]. - The company reported a total revenue of 604,882.95 million for the residential and commercial projects in Handan, representing a significant increase compared to the previous period[79]. - The company achieved a positive profit for the reporting period, but no cash dividend distribution plan was proposed[192]. Market Environment - The company has faced significant management risks due to the capital-intensive nature of the real estate industry and potential cash flow issues[5]. - The company faced a challenging market environment, with a notable decline in consumer purchasing intentions and income expectations, impacting overall sales performance[38]. - The National Real Estate Prosperity Index fell to a low of 94.35 in December 2022, indicating a continuous downturn in the real estate market[47]. - The total investment in real estate development in 2022 was CNY 1.32 trillion, a decrease of 10.0% compared to the previous year, marking the first annual decline since 1998[43]. - The total funds available to real estate development enterprises in 2022 was CNY 1.49 trillion, down 25.9% year-on-year, indicating a tight liquidity environment[44]. Project Development - The company has ongoing projects such as "Jinxiu Xiangti" in Bengbu City, with a total planned construction area of 593,862.76 square meters and an expected total investment of 182,117.86 million yuan[64]. - The company is actively expanding its market presence in key cities along the Bohai Rim, Yangtze River Economic Belt, and Pearl River Delta[62]. - The company has multiple ongoing projects, with a total area of 1,200,000 square meters under construction, representing a significant investment in residential and commercial properties[66]. - The company is focusing on sustainable development practices in its new projects, aiming to reduce environmental impact[67]. - The company has a total of 23 ongoing projects, with a completion rate of 100% for several key developments, including the Arcadia Villa in Dezhou and Junlan Garden in Tangshan[72]. Financial Management - The company plans to focus on cash flow management and aims to achieve net recovery targets in 2023, adhering to the operational principle of "four guarantees and one safeguard"[140]. - The company aims to enhance customer satisfaction and service quality through its "Beautiful Service" and "Beautiful Life" management systems[144]. - The company will continue to optimize asset disposal and promote mergers and acquisitions to increase cash inflow[143]. - The company has set a goal to improve operational efficiency and reduce costs through its "two reductions and two decreases" strategy[140]. - The company has a total financing balance of 425.25 billion yuan, with bank loans accounting for 2,287,355.36 million yuan at an interest rate of 3.6%-11.07%[87]. Corporate Governance - The company held a total of 7 shareholder meetings during the reporting period, ensuring equal rights for all shareholders, especially minority shareholders[151]. - The board of directors convened 16 meetings during the reporting period, fulfilling its decision-making role effectively[152]. - The company maintained independent operations from its controlling shareholder, with no incidents of fund occupation or unauthorized information disclosure[152]. - The company has established a fair and transparent performance evaluation and incentive mechanism for its directors, supervisors, and managers[154]. - The company has a complete and independent business and operational capability, with its own market development, production, and sales systems[155]. Employee Management - The total number of employees at the end of the reporting period was 15,978, with 220 from the parent company and 15,758 from major subsidiaries[186]. - The company conducted a total of 38 training sessions throughout the year, covering various business aspects and reaching 9,053 participants[189]. - The company emphasized a performance-based compensation policy, linking salary to job value, capability, and performance[188]. - The company has implemented the "活水计划" and "星火计划," facilitating over 80 cross-company talent movements and promoting 20 individuals in 2022[191]. - The company reported a commitment to maintaining competitive salary levels in line with market standards while ensuring sustainable development[188]. Strategic Initiatives - The company is exploring potential mergers and acquisitions to enhance its market position and expand its portfolio[67]. - The company plans to expand its market presence by entering three new cities in 2023, targeting a 10% growth in market share[82]. - The company aims to achieve a revenue growth target of 10% for the upcoming fiscal year, driven by new project launches and market expansion strategies[84]. - The company has a strategic focus on residential and commercial real estate, with a significant number of projects under construction across various regions[64]. - The company has established long-term strategic partnerships with several large financial institutions, ensuring a stable funding source[96].