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中国新城镇(01278) - 2021 - 年度财报
CHINANEWTOWNCHINANEWTOWN(HK:01278)2022-04-13 09:00

Business Strategy and Development - China New Town Development Company Limited aims to become a leading urbanization investment and livelihood investment operation platform, targeting long-term sustainable growth while pursuing short-term profitability for shareholders[8]. - The company has actively explored business transformation directions in the health industry, strategic emerging industries, and information technology innovation, leveraging shareholder resources to cultivate new business tracks[13]. - The company is focused on improving the quality of life for residents by introducing brand products in tourism, health, and medical sectors, aligning with regional economic development needs[6]. - The company is confident in steadily increasing its asset scale and operational performance, supported by national policies promoting new urbanization[7]. - The company aims to improve asset quality and enhance profitability by leveraging major shareholders' industry resources and business networks to select quality projects nationwide[26]. - The company is focusing on new economic sectors and equity investments as a means to identify new growth points for sustainable development[26]. - The company aims to enter a business transformation phase over the next 2-3 years, focusing on investments in the health industry, strategic emerging industries, and information technology innovation[43]. - The company plans to optimize its asset structure by divesting low-efficiency assets while stabilizing high-quality assets and maintaining a fixed income investment portfolio[43]. - The company is committed to a "three-step" execution strategy of "solidifying the foundation, nurturing the source, and improving quality" to enhance operational efficiency[43]. - The company is actively responding to new market challenges and seeking new directions for growth amid complex domestic and international economic conditions[41]. Financial Performance - The company achieved operating revenue of RMB 368 million and net profit of RMB 131 million for the year ended December 31, 2021, successfully turning a profit[48]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in the last fiscal year, representing a growth of 15% year-over-year[72]. - The company's revenue for 2021 was RMB 367,776,000, a decrease of 22.7% from RMB 475,966,000 in 2020[93]. - The operating profit for 2021 was RMB 149,214,000, compared to an operating loss of RMB 200,609,000 in 2020[93]. - The net profit attributable to equity holders of the parent company for 2021 was RMB 108,583,000, recovering from a loss of RMB 250,925,000 in 2020[93]. - The company recorded a revenue of RMB 273 million for the year ended December 31, 2021, a decrease of 30% compared to RMB 390 million for the year ended December 31, 2020[95]. - The company successfully recovered RMB 743 million in principal from fixed income projects during 2021, ensuring zero risk for normal projects[57]. - The company reported a significant reduction in financial costs, which fell to RMB 50,961,000 in 2021 from RMB 112,665,000 in 2020[93]. - The total assets as of the end of 2021 amounted to RMB 6,678,036,000, down from RMB 7,411,263,000 in 2020[93]. - Total liabilities decreased to RMB 2,163,517,000 in 2021 from RMB 3,023,871,000 in 2020, indicating improved financial stability[93]. Investment and Project Development - The company has reserved multiple quality project resources in collaboration with high-quality industry investment institutions, laying a good foundation for future development[7]. - The company has established a joint venture with Vanke in Beijing's Mentougou District, holding a 50% stake, to develop a comprehensive industrial park integrating cultural innovation, ecological healthcare, and tourism[18]. - The company completed investments in several projects in the medical beauty and autonomous driving sectors in the second half of 2021, while also reserving quality projects in information technology, medical beauty, and health sectors for future development[55]. - The company plans to focus on investment opportunities in the health industry, strategic emerging industries, and information technology application innovation sectors in the next 2-3 years[49]. - The company is focused on stable growth of fixed-income investment portfolios while controlling investment risks to achieve stable income and cash flow[26]. - The financing strategy includes utilizing the credit background of shareholders to establish domestic and international financing channels, enhancing capital strength through innovative financing methods[27]. - The target for the fixed income investment portfolio is to reach approximately RMB 3 billion by the end of 2022, supporting stable growth in main business revenue[64]. Corporate Governance - The board of directors confirmed compliance with the corporate governance code throughout the fiscal year ending December 31, 2021[132]. - The board has established three board committees: Audit, Nomination, and Remuneration, to assist in governance[133]. - The board's actions are monitored and reported to ensure effective governance and accountability[139]. - The company emphasizes the importance of corporate governance in enhancing shareholder value[132]. - The board consists of 12 members, including 4 executive directors, 4 non-executive directors, and 4 independent non-executive directors, ensuring a balanced decision-making process[142]. - The company has implemented a diversity policy for the board, which is regularly reviewed and updated as necessary[152]. - The board believes that its current composition of 12 directors is appropriate for the company's operational scope and nature[146]. - The board has accepted a recommendation that any director may serve on the boards of up to eight listed companies[165]. - The board is responsible for the overall effectiveness of risk management and internal controls, ensuring that the company can achieve its strategic objectives[188]. - The board conducts an annual performance evaluation to assess its overall effectiveness and identify areas for improvement[178]. Risk Management and Internal Controls - The company has implemented effective risk management procedures to identify and mitigate potential risks associated with its business operations[188]. - The audit committee consists of three independent non-executive directors, ensuring adequate financial knowledge and experience among its members[197]. - The company has established an internal audit function to guide and supervise compliance efforts across subsidiaries, enhancing risk management and internal controls[192]. - The board reviews the risk management and internal control systems annually, focusing on significant changes in risk nature and severity[193]. - The company emphasizes the importance of internal controls, acknowledging their inherent limitations and the need for continuous improvement[193]. - External agencies are engaged to conduct internal control checks, ensuring compliance with the Hong Kong Stock Exchange's requirements[192]. - The audit committee evaluates the adequacy and consistency of the group's risk management and internal control systems[200]. Market Expansion and Future Outlook - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2025[72]. - A recent acquisition of a tech startup is anticipated to enhance the company's product offerings and drive future growth[72]. - The company is investing 50 million in research and development to advance its technology capabilities[72]. - Operational efficiency improvements are expected to reduce costs by 5% in the upcoming year[72]. - The company plans to implement a new marketing strategy aimed at increasing brand awareness and customer engagement[72].