Deluxe Family(600503)2019-04-26 16:00Financial Performance - The net profit attributable to the parent company for 2018 was CNY 19,825,488.76, a decrease of 91.20% compared to 2017 [5]. - The total operating revenue for 2018 was CNY 386,885,446.48, representing a decline of 81.66% year-on-year [20]. - The basic earnings per share for 2018 was CNY 0.0124, down 91.18% from CNY 0.1406 in 2017 [21]. - The weighted average return on equity decreased to 0.55%, down 5.90 percentage points from 6.45% in 2017 [21]. - Net profit attributable to shareholders was CNY 1.98 million, down 91.2% compared to the previous year [37]. - The company achieved operating revenue of CNY 38.69 million, a year-on-year decrease of 81.66% due to reduced sales area from real estate project delivery cycles [37]. - The company reported a total revenue of 1,015.25 million in the fiscal year 2018 [117]. - The company reported a net cash flow from operating activities of ¥690,857,903.38, a turnaround from a negative cash flow of ¥449,400,265.62 in the previous period [163]. Cash Flow and Investments - The net cash flow from operating activities improved to CNY 690,857,903.38, an increase of 253.73% compared to the previous year [20]. - The company generated a net cash flow from operating activities of CNY 69.09 million, an increase of 253.73% year-on-year [37]. - The company reported a net cash flow from investment activities of 319,736,953.09 RMB, a recovery from a net outflow of 667,619,192.55 RMB in the previous year [168]. - The total cash inflow from investment activities reached 978,136,340.91 RMB, compared to 67,975,818.55 RMB in the prior year, indicating a substantial increase [168]. - The company received 52,042,430.39 RMB in investment income, a decrease from 74,814,639.81 RMB in the previous year [165]. Real Estate Development - The company’s main real estate development project, Suzhou Taihu Shangjing Garden, has a planned construction area of 765,084 square meters and is currently in the sales and construction phases [29]. - The company reported a total of 74,189 residential units sold in Suzhou in 2018, reflecting a year-on-year increase of 1,521 units, or 2.09% [33]. - The real estate market in Suzhou remained stable in 2018, with the company benefiting from favorable conditions in the Wu Zhong District, which was popular among buyers [33]. - The Suzhou Taihu Shangjing Garden project achieved pre-sale contracts of 176,400 square meters, while the completed delivery area was 24,400 square meters, a decline of 89.65% year-on-year [38]. - The company plans to expand land reserves and related real estate projects in 2019 to ensure sustainable development [38]. Market Conditions - In 2018, the national real estate market saw a total sales area of 1.717 billion square meters, a 1.3% increase year-on-year, indicating a slowdown in growth [30]. - The average transaction price in Suzhou peaked at ¥20,363 per square meter in March 2018, with fluctuations throughout the year [33]. - The company plans to continue its investment strategy in response to the tightening of real estate policies across various cities in China [30]. Corporate Governance and Compliance - The company appointed Zhongxinghua Accounting Firm for the 2018 financial and internal control audit, replacing Lixin Accounting Firm, with an audit fee of RMB 75,000 [87]. - The company has a strict governance structure in compliance with relevant laws and regulations, ensuring independent operation of the board and supervisory board [130]. - The company maintains transparency in information disclosure, adhering to the regulations of the Shanghai Stock Exchange and its own management system [132]. - The company has not disclosed any employee stock ownership plans or other incentive measures during the reporting period [89]. Shareholder Information - The total number of ordinary shareholders decreased from 190,383 to 188,246 during the reporting period [104]. - Shanghai Nanjing Group Co., Ltd. holds 114,020,000 shares, accounting for 7.12% of the total share capital, all of which are pledged [112]. - The company distributed a cash dividend of RMB 0.05 per 10 shares for the fiscal year 2017, totaling RMB 8,011,450, based on a total share count of 1,602,290,000 shares [79]. - For the fiscal year 2018, the proposed cash dividend remains the same at RMB 0.05 per 10 shares, with a total distribution of RMB 8,011,450, pending shareholder approval [80]. Employee and Management Information - The company has a total of 436 employees, with 171 in the parent company and 107 in major subsidiaries [126]. - The total remuneration for all directors, supervisors, and senior management personnel at the end of the reporting period amounted to 10.1525 million yuan (pre-tax) [123]. - The company organizes training programs for new employees and regular professional training for existing staff [128]. - The reporting period saw a significant increase in shareholding for multiple executives, indicating confidence in the company's future performance [116]. Risks and Challenges - The company faces risks from macroeconomic policies, market competition, and the slow commercialization of its graphene and robotics sectors [76]. - The company’s subsidiaries in the graphene and robotics industries are currently in a phase of research and small-scale commercialization, facing ongoing losses [77]. - The company will enhance investment management to mitigate risks associated with investment decisions and ensure the safety and effectiveness of its industrial investments [78].