NHPRECL(SH:600638)2024-04-29 11:28Financial Performance - In 2023, the company's operating revenue was CNY 3,056,398,990.62, a decrease of 29.21% compared to CNY 4,317,280,153.18 in 2022[20]. - The net profit attributable to shareholders of the listed company was CNY 62,089,800.43, representing an increase of 9.69% from CNY 56,602,581.87 in the previous year[20]. - The net profit attributable to shareholders after deducting non-recurring gains and losses surged to CNY 21,416,557.03, a significant increase of 1,945.89% compared to CNY 1,046,808.04 in 2022[20]. - The company's cash flow from operating activities showed a net outflow of CNY 285,739,405.06, a decline of 108.85% from a net inflow of CNY 3,229,074,427.87 in 2022[20]. - As of the end of 2023, the total assets amounted to CNY 20,339,732,257.91, down 17.09% from CNY 24,532,354,788.45 at the end of 2022[20]. - Basic earnings per share for 2023 were CNY 0.0922, reflecting a 9.63% increase from CNY 0.0841 in 2022[21]. - The weighted average return on net assets increased to 1.41% in 2023, up from 1.29% in 2022[21]. - The company reported a net asset of CNY 4,430,719,021.52 at the end of 2023, a slight increase of 1.14% from CNY 4,380,625,774.25 at the end of 2022[20]. - The company reported total revenue of 3.4075181 billion RMB, a decrease of 29.21% compared to the previous year[41]. - The net profit for the year was 110.88 million RMB, representing a 70.30% increase year-on-year[41]. Cash Flow and Dividends - The company's proposed cash dividend is CNY 0.28 per 10 shares, with a total cash dividend distribution of CNY 18,855,110.01, resulting in a cash dividend payout ratio of 30.37%[6]. - The cash flow from operating activities showed a negative CNY 967.16 million in Q1, improved to positive CNY 623.42 million in Q2, but turned negative again with CNY -229.51 million in Q3 and positive CNY 287.51 million in Q4[23]. - The company has established a cash dividend policy that prioritizes cash dividends over stock dividends when profits are available and cash flow supports sustainable operations[116]. - The proposed cash dividend distribution ratio is not less than 30% of the net profit attributable to shareholders of the listed company in the consolidated financial statements, which is ¥62,089,800.43[117]. Real Estate and Construction - The company achieved a rental housing occupancy rate exceeding 95% by the end of 2023, with a total of 4,116 rental units launched in February 2023[31]. - In 2023, the company had five construction projects with a total area of 540,000 square meters, and completed the delivery of 1,010 residential units[32]. - The company successfully cleared all residential and parking space inventories in the Hangzhou Linping project and achieved significant sales in other projects despite market challenges[33]. - The company reported a total of 164,382.40 square meters available for sale in Huzhou, with 163,840.27 square meters sold, resulting in a transfer income of RMB 1,517.16 million[58]. - The company is actively expanding its market presence with new residential projects in Shanghai, including the C19-12-04 plot with a saleable area of 72,805 square meters and a total investment of RMB 70,853 million[57]. Market and Industry Trends - The total area of unsold commercial housing in China increased by 19.0% year-on-year, with residential unsold area rising by 22.2%[36]. - The real estate market is expected to gradually stabilize in 2024 due to macroeconomic recovery and supportive industry policies[75]. - The company acknowledges potential risks in the real estate sector due to market confidence recovery and increased competition among firms[82]. Governance and Management - The company held three shareholder meetings during the reporting period, ensuring equal treatment of all shareholders, particularly minority shareholders[85]. - The board of directors convened seven times, actively listening to management reports to ensure scientific decision-making[86]. - The supervisory board held four meetings, independently overseeing the company's operations and financial status[86]. - The company has established four specialized committees under the board to fulfill their respective functions effectively[86]. - The company has maintained independence in operations, finance, and management from its controlling shareholders[88]. Social Responsibility and Environmental Initiatives - The company invested ¥780,000 in environmental protection during the reporting period[130]. - The company provided 400,000 yuan in assistance to support rural revitalization projects, benefiting approximately 76 households and helping 31 households to escape poverty[136]. - The company actively participated in various public welfare activities, including a "Learning from Lei Feng" service event and a summer care class in collaboration with the government[134]. - The company received recognition as an advanced collective for carbon peak and carbon neutrality in Huangpu District for 2023[132]. Financial Management and Audit - The company has appointed Da Hua Accounting Firm as its auditor for a three-year term, with an audit fee of CNY 110,000[146]. - The company's internal control audit report was issued with a standard unqualified opinion by Da Hua Accounting Firm[128]. - The company has implemented a management control system for subsidiaries based on established internal control and management regulations[127]. Employee and Management Structure - The total number of employees in the parent company and major subsidiaries is 979, with 68 in the parent company and 911 in subsidiaries[111]. - The company has established a salary policy based on fairness, competitiveness, and performance, implementing a monthly fixed salary combined with annual performance assessments[113]. - The company has a training system that includes both internal and external training, focusing on professional development and technical qualifications[114].