Shenzhen Zhenye Group(SZ:000006)2022-12-06 05:36Group 1: Land Acquisition Strategy - The company emphasizes the importance of land for real estate development and has been active in various regions including Shenzhen, Guangdong, and others, focusing on expanding land acquisition channels [2] - Future strategies include exploring mergers, acquisitions, and urban renewal to enhance sustainable development [3] Group 2: Collaboration with Metro Group - The collaboration with the Shenzhen Metro Group is progressing well, with two batches of sales already completed and a positive market response [3] - There is uncertainty regarding future cooperation with the Metro Group, which requires further communication [3] Group 3: State-Owned Enterprise Reform - The company is closely monitoring state-owned enterprise reforms and is exploring feasible plans to leverage these reforms for further development [3] Group 4: Financial Performance and Outlook - The real estate market is currently stable, and the company reports smooth progress in development and sales, but full-year sales for 2017 remain unpredictable [3] Group 5: Business Model and Funding - The company has no plans for a business model transformation, having previously divested from auxiliary businesses to focus on real estate development [4] - In 2015, the company successfully issued 1.5 billion in corporate bonds, with funding primarily sourced from bank loans and project returns [4] Group 6: Dividend Policy and Shareholder Returns - The company maintains a high dividend payout ratio as part of its social responsibility and has established a three-year shareholder return plan from 2015 to 2017 [4] - A stock incentive plan was implemented in 2005, and all incentive shares have been unlocked [4]