SHSTC(600620)2024-04-02 16:00Financial Performance - The company's operating revenue for 2023 was CNY 297,374,334.71, representing a 22.01% increase compared to CNY 243,734,574.84 in 2022[20] - The net profit attributable to shareholders for 2023 was CNY 21,811,796.65, a decrease of 39.30% from CNY 35,935,674.36 in 2022[20] - The basic earnings per share for 2023 was CNY 0.03, down 40.00% from CNY 0.05 in 2022[21] - The net profit excluding non-recurring gains and losses for 2023 was CNY 20,887,017.28, a decline of 77.05% from CNY 90,996,573.03 in 2022[20] - The company's net assets attributable to shareholders decreased by 20.73% to CNY 1,564,767,586.38 at the end of 2023 from CNY 1,973,908,147.74 at the end of 2022[20] - The company's total equity decreased to CNY 1,564,485,994.69 in 2023 from CNY 2,119,887,335.67 in 2022, indicating a decline of approximately 26.1%[189] Cash Flow - The cash flow from operating activities for 2023 was CNY 8,766,947.57, a significant recovery from a negative cash flow of CNY -145,732,775.99 in 2022[20] - The net cash flow from operating activities improved significantly, reaching CNY 8,766,947.57, compared to a negative CNY 145,732,775.99 in the previous year[44] - The net cash flow from investing activities decreased by 44.05 million RMB year-on-year to 28.26 million RMB, due to reduced cash inflows from financial asset distributions[60] - The net cash flow from financing activities was -53.39 million RMB, an increase in cash outflow of 411.68 million RMB year-on-year, primarily due to increased bank loan repayments[60] Revenue Sources - The company achieved investment income of CNY 21.8099 million, with cash dividend income of CNY 19.3639 million, including CNY 14.2299 million from Shanghai Jingjia Venture Capital[35] - The company's real estate sales revenue reached CNY 283,215,917.09, with a corresponding cost of CNY 106,559,967.63[49] - The company's real estate development investment in 2023 was CNY 28,321.59 million, with taxi business revenue at CNY 4.6982 million and property leasing income at CNY 946.02 million[42] Project Developments - The company is currently constructing the Tianchen Health City East Block 1B project, which will include office, hotel, and commercial buildings, with plans for either sale or self-operation upon completion[32] - The Tianchen Health City project sold 12 units during the reporting period, generating a net profit of 45.20 million RMB, down from 80.47 million RMB in the previous year, attributed to rising interest and depreciation costs[32] - The company’s subsidiary, Tianchen Health Management, converted the former Shanghai Chennan Hotel into a rehabilitation hospital, which received its operating license in September 2023[34] Strategic Focus - The company’s strategic focus for 2023 is on stabilizing existing businesses while actively pursuing new growth opportunities[30] - The company plans to continue its strategic transformation to ensure sustainable development and healthy operations moving forward[30] - The company aims to develop its new energy business, particularly in the energy storage sector, and establish a unique business model[76] Governance and Compliance - The company held 1 annual general meeting during the reporting period, ensuring compliance with relevant regulations and protecting shareholders' rights[82] - The board of directors convened 7 meetings, with all members fulfilling their responsibilities diligently and independently[83] - The supervisory board held 6 meetings, effectively overseeing the company's financial status and management compliance[83] - The company emphasizes respect for shareholders' rights and aims to provide fair returns, particularly for small and medium investors[84] Legal Matters - Shanghai Tianchen Co., Ltd. is involved in a lawsuit against Shanghai Yiran Lawn Engineering Co., Ltd. for the return of agricultural land and payment of a penalty of CNY 508,492.93 due to breach of contract[137] - The ongoing lawsuits are currently in various stages, with some cases still awaiting court hearings[138][139] Shareholder Information - The total number of common shareholders as of the end of the reporting period is 15,325, down from 17,493 at the end of the previous month[154] - The largest shareholder, Shanghai Zhongsheng Hongqiao Enterprise Management Co., Ltd., holds 172,225,164 shares, representing 25.08% of the total shares[157] - The top ten shareholders include several entities, with the largest increase being from Hangzhou Qingzhe Investment Management Co., Ltd. - Qingzhe He Rong No. 7 Private Securities Investment Fund, which added 41,109,374 shares[157] Internal Control and Audit - The company established a comprehensive internal control management system in accordance with regulations, enhancing decision-making efficiency and ensuring asset safety[116] - An independent audit of the internal control effectiveness for the 2023 financial report was conducted, resulting in a standard unqualified opinion[119] - The company has appointed Lixin Certified Public Accountants as its auditing firm for 2023, with a total audit fee of RMB 1.15 million, which includes RMB 900,000 for financial audit and RMB 250,000 for internal control audit[132] Environmental and Social Responsibility - The company promotes a paperless office and "green travel" initiatives to contribute to environmental improvement and sustainable development[124] - The company disclosed its 2023 Social Responsibility Report, available on the Shanghai Stock Exchange website[126]