WUSHANG GROUP(000501)2024-03-29 16:00Financial Performance - The company's operating revenue for 2023 was CNY 7,177,500,740.94, representing a 13.26% increase compared to CNY 6,337,155,540 in 2022[22]. - The net profit attributable to shareholders of the listed company decreased by 30.72% to CNY 209,077,636.90 from CNY 304,704,941 in the previous year[22]. - The net profit attributable to shareholders after deducting non-recurring gains and losses fell by 70.51% to CNY 82,740,940.20[22]. - The net profit for the year was CNY 623,512,743, representing a significant increase of 285.76% compared to the previous year[23]. - The basic and diluted earnings per share decreased by 30.77% to CNY 0.27 from CNY 0.39 in the previous year[23]. - The total assets increased by 2.80% to CNY 31,811,858,695 compared to CNY 30,743,634,700 at the end of the previous year[23]. - The net assets attributable to shareholders increased by 1.78% to CNY 11,037,050,361 from CNY 10,812,588,600 at the end of the previous year[23]. - The operating cash flow for the year was CNY 2,405,288,020, a substantial increase from the previous year's CNY 2,176,350,580[23]. - The company reported a total revenue of CNY 1,739,872,124.89 in Q4 2023, with a total annual revenue of CNY 7,177,500,740.94[28]. - The net profit attributable to shareholders in Q1 2023 was CNY 131,860,206.61, while Q2 showed a loss of CNY 14,816,347.02[28]. Dividend Distribution - The company plans to distribute a cash dividend of CNY 0.5 per 10 shares, totaling CNY 38,449,636.55 based on 768,992,731 shares[4]. - A cash dividend of CNY 0.5 per 10 shares (including tax) was declared, totaling CNY 38,449,636.55, which represents 100% of the profit distribution amount[135]. - The total number of shares for the cash dividend distribution was based on 768,992,731 shares[135]. Real Estate Operations - The company has no significant land reserves in the real estate sector, which mitigates the impact of market fluctuations on its housing projects[4]. - The company is currently engaged in the delivery of housing for residents affected by the government repurchase of the Times Garden real estate project[4]. - The company has no other real estate business apart from the aforementioned project, indicating a focused strategy in its operations[4]. - The real estate business saw a decline in revenue by 7.37%, generating 80.46 million yuan[52]. - The company has a pre-revenue balance of 276 million yuan from advance housing payments for the Times Garden project, with a total investment of 2.837 billion yuan and a total construction area of 354,400 square meters[43]. Retail Business Performance - The retail business accounted for 86.46% of total revenue, generating 6.21 billion yuan, which is an increase of 11.52% compared to the previous year[52]. - The revenue from shopping centers was 3,200.1553 million yuan, representing a year-on-year increase of 9.15%[40]. - The revenue from supermarkets was 2,468.8747 million yuan, reflecting a year-on-year decrease of 5.23%[40]. - The gross profit margin for the retail business improved to 39.99%, up by 1.39% from the previous year[53]. - The company opened 1 new shopping center and 5 new supermarket stores during the reporting period, while closing 3 supermarket stores[40]. Market Expansion and Strategy - The company is actively expanding into new markets and enhancing project construction to improve operational efficiency[35]. - The company is focusing on enhancing its digital systems, including a new membership system and integrated navigation features for shopping destinations[49]. - The company plans to explore new business avenues, including cross-border e-commerce, to drive sales growth and profitability[91]. - The company aims to improve operational efficiency and drive growth through strategic investments and partnerships in the coming fiscal year[110]. - The company is actively exploring potential mergers and acquisitions to bolster its competitive position in the market[110]. Corporate Governance and Shareholder Relations - The company held 2 shareholder meetings during the reporting period, ensuring fair treatment of all shareholders, especially minority investors, by separately counting votes for significant matters affecting their interests[98]. - The company maintains complete independence from its largest shareholder in terms of assets, personnel, finance, and operations, with no instances of asset occupation by the major shareholder[101]. - The company has established an independent financial department and accounting system, ensuring independent banking operations and tax compliance[102]. - The company has established a governance structure that ensures clear responsibilities and effective checks and balances among shareholders, the board, and management[148]. - The company has committed to enhancing its operational independence and market-facing capabilities, ensuring no reliance on the largest shareholder for business activities[103]. Employee and Management Information - The total number of employees at the end of the reporting period is 9,320, with 2,365 in the parent company and 6,955 in major subsidiaries[129]. - The company has 5,002 sales personnel, 852 technical staff, and 725 financial personnel, indicating a strong focus on sales and technical capabilities[129]. - The management team remains stable, with no changes in shareholding among key executives during the reporting period[106]. - The total remuneration for directors, supervisors, and senior management during the reporting period amounted to 25.76 million yuan, including a one-time payment of 11.12 million yuan for term incentives[121]. Digital Transformation and Technology - The company has implemented a digital transformation strategy, completing the switch to a VIP system and collaborating with major platforms like Douyin and Meituan for enhanced marketing[46]. - The company is committed to a strategic transformation towards modern business practices, integrating technology into operations[90]. - The company is actively pursuing new technology developments to improve operational efficiency and customer service[166]. Financial Management and Investments - The company has a financing balance of 491.4 million yuan with an average financing cost of 3.5786%[45]. - The company reported a total revenue of 8,703 million yuan for the year, with a year-on-year growth of 1.15%[166]. - The company has engaged Zhongzheng Zhonghuan Accounting Firm for auditing services, with a fee of 1.7 million yuan for the current period[161]. - The company has not faced any penalties or rectification issues during the reporting period[164]. Community Engagement and Social Responsibility - The company conducted various employee care activities, providing support to 1,699 employees with a total expenditure of nearly 550,000 yuan[149]. - The company actively engaged in community service, organizing special screening events for teachers and community workers to promote cultural development[150]. - The company has implemented measures to protect consumer rights and enhance product quality through various promotional and educational activities[148].