ZJHTC(600895)2024-03-29 16:00Financial Performance - Revenue for 2023 reached 2,025,737,630.73 yuan, a 6.24% increase compared to 2022[15] - Net profit attributable to shareholders in 2023 was 947,899,545.53 yuan, up 15.29% year-on-year[15] - Operating cash flow for 2023 was -2,785,411,690.76 yuan, a significant decrease of 511.19% compared to 2022[15] - Basic earnings per share for 2023 were 0.61 yuan, a 15.09% increase from 2022[16] - Weighted average return on equity (ROE) for 2023 was 7.85%, an increase of 0.58 percentage points from 2022[16] - The company's diluted earnings per share for 2023 were 0.61 yuan, reflecting a 15.09% increase from 2022[16] - Revenue for Q3 (July-September) reached 1.205 billion RMB, a significant increase compared to other quarters[18] - Net profit attributable to shareholders in Q3 was 371.4 million RMB, the highest among all quarters[18] - Operating cash flow was negative in Q1, Q2, and Q3, with Q3 recording the lowest at -1.387 billion RMB[18] - Net profit attributable to shareholders of the listed company was 950 million yuan[23] - Net profit attributable to shareholders after deducting non-recurring gains and losses increased by 14.24% to RMB 952,911,084.03 in 2023 compared to 2022[176] - Operating profit for 2023 was 1,347,502,942.67, a significant increase from 1,000,503,306.99 in 2022[193] - Net profit attributable to parent company shareholders for 2023 was 947,899,545.53, up from 822,216,239.79 in 2022[193] - Basic earnings per share for 2023 were 0.61, compared to 0.53 in 2022[193] - Revenue for 2023 was 383,630,213.79, an increase from 288,296,898.46 in 2022[194] - Net profit for 2023 was 234,554,642.99, a decrease from 1,521,622,116.64 in 2022[194] - Comprehensive income for 2023 was 234,554,642.99, down from 1,521,622,116.64 in 2022[195] Assets and Liabilities - Total assets at the end of 2023 were 51,004,632,298.02 yuan, a 19.37% increase from the previous year[15] - The company's net assets attributable to shareholders at the end of 2023 were 12,442,363,469.88 yuan, a 6.25% increase from the previous year[15] - Total assets reached 51 billion yuan, a year-on-year increase of 19.37%[23] - Total assets increased to 51,004,632,298.02 CNY in 2023, up from 42,727,234,244.92 CNY in 2022, representing a growth of 19.37%[188] - Current assets rose to 21,739,082,142.11 CNY in 2023, compared to 15,859,429,395.85 CNY in 2022, a 37.07% increase[186] - Inventory surged to 17,165,545,542.64 CNY in 2023, up from 11,852,450,230.82 CNY in 2022, marking a 44.83% growth[186] - Long-term loans increased significantly to 12,651,276,396.85 CNY in 2023, compared to 5,294,806,468.95 CNY in 2022, a 138.94% rise[187] - Total liabilities grew to 34,989,900,361.35 CNY in 2023, up from 27,436,719,220.68 CNY in 2022, a 27.53% increase[187] - Shareholders' equity increased to 16,014,731,936.67 CNY in 2023, compared to 15,290,515,024.24 CNY in 2022, a 4.73% growth[188] - Accounts receivable rose to 88,725,629.71 CNY in 2023, up from 56,664,176.68 CNY in 2022, a 56.58% increase[186] - Other receivables increased to 88,212,638.98 CNY in 2023, compared to 63,839,482.36 CNY in 2022, a 38.18% growth[186] - Investment properties grew to 16,474,261,537.43 CNY in 2023, up from 14,329,965,485.65 CNY in 2022, a 14.96% increase[186] - Other non-current financial assets increased to 8,881,645,993.35 CNY in 2023, compared to 7,567,053,098.30 CNY in 2022, a 17.37% growth[186] - Total assets increased to 26.77 billion RMB in 2023, up from 23.13 billion RMB in 2022[190] - Total liabilities rose to 20.01 billion RMB in 2023, compared to 16.35 billion RMB in 2022[190] - Total equity slightly decreased to 6.77 billion RMB in 2023, compared to 6.78 billion RMB in 2022[191] - Short-term borrowings decreased to 733 million RMB in 2023, down from 2.97 billion RMB in 2022[190] - Long-term borrowings increased to 4.53 billion RMB in 2023, up from 421.3 million RMB in 2022[190] Cash Flow - Operating cash flow for 2023 was -2,785,411,690.76 yuan, a significant decrease of 511.19% compared to 2022[15] - Operating cash flow was negative in Q1, Q2, and Q3, with Q3 recording the lowest at -1.387 billion RMB[18] - Net cash flow from operating activities was -2,785,411,690.76 RMB in 2023, compared to -455,738,528.54 RMB in 2022, indicating a significant increase in cash outflow[196] - Cash received from investments increased to 7,892,084,582.86 RMB in 2023 from 3,953,793,712.51 RMB in 2022, a growth of 99.6%[196] - Cash paid for investments rose to 8,595,201,997.05 RMB in 2023 from 4,215,478,499.76 RMB in 2022, an increase of 103.9%[197] - Net cash flow from financing activities improved to 4,297,290,510.04 RMB in 2023 from 2,706,310,094.80 RMB in 2022, reflecting stronger financing activities[197] - Cash received from borrowing increased to 9,659,007,427.90 RMB in 2023 from 7,139,170,376.51 RMB in 2022, a growth of 35.3%[197] - Cash received from bond issuance rose to 5,287,368,000.00 RMB in 2023 from 3,099,300,000.00 RMB in 2022, an increase of 70.6%[197] - Net cash flow from operating activities for a subsidiary was -167,426,447.43 RMB in 2023, compared to -133,928,929.47 RMB in 2022, indicating increased cash outflow[198] - Cash received from investments for a subsidiary increased to 6,359,581,278.14 RMB in 2023 from 2,887,882,118.70 RMB in 2022, a growth of 120.2%[198] - Net cash flow from financing activities for a subsidiary improved to 2,668,242,696.73 RMB in 2023 from -347,983,276.09 RMB in 2022, reflecting a significant turnaround in financing activities[199] Dividends and Profit Distribution - The company plans to distribute a cash dividend of 1.9 yuan per 10 shares, totaling 294,251,014.5 yuan, representing 31.04% of the net profit attributable to shareholders[4] - The company implemented a 2022 annual profit distribution plan, distributing a cash dividend of RMB 0.16 per share, totaling RMB 247,790,328[99] - The company's 2023 profit distribution plan includes a cash dividend of RMB 1.9 per 10 shares, totaling RMB 294,251,014.50, representing 31.04% of the net profit attributable to shareholders[101] Investments and Financial Assets - The fair value of other non-current financial assets increased by 1.315 billion RMB, contributing 617.97 million RMB to the current profit[21] - Total fair value of financial assets at the end of the period was 8.993 billion RMB, with a total impact on profit of 637 million RMB[21] - Direct investment in 52 projects with a total investment of 3.86 billion yuan[23] - Completed fund subscriptions of 1.13 billion yuan, including investments in various funds[23] - The company's investment income increased by 72.52% year-on-year, primarily due to gains from equity disposals and increased returns from financial assets[30] - The company's total cost for park development increased by 17.45% year-on-year to 847,724,791.20 RMB, accounting for 99.74% of total costs[33] - Service sector costs surged by 122.89% year-on-year to 2,205,369.86 RMB, though still only representing 0.26% of total costs[33] - The company's total assets reached 5,100,463.23 million yuan, an increase of 19.37% compared to the previous year, with overseas assets accounting for 4.48% of total assets[45] - The top five customers contributed sales of 1,021,747,358.81 yuan, accounting for 50.44% of total annual sales, with related party sales of 2,073.84 million yuan, accounting for 1.02% of total annual sales[36][37] - The top five suppliers accounted for 312,545.89 million yuan in procurement, representing 37.62% of total annual procurement[38] - Sales expenses decreased by 3.38% to 23,272,113.48 yuan, while management expenses increased by 17.42% to 115,935,606.55 yuan, and financial expenses increased by 8.54% to 456,588,141.71 yuan[39] - Net cash flow from operating activities decreased by 511.19% to -2,785,411,690.76 yuan, while net cash flow from financing activities increased by 58.79% to 4,297,290,510.04 yuan[41] - Inventory increased by 44.83% to 17,165,545,542.64 yuan, mainly due to increased development costs[42][44] - Short-term borrowings decreased by 81.26% to 733,000,000 yuan, while long-term borrowings increased by 138.94% to 12,651,276,396.85 yuan[42][44] - Accounts payable increased by 104.46% to 4,841,313,310.60 yuan, mainly due to increased engineering payables[42][44] - Other current liabilities increased by 137.10% to 2,014,770,410.97 yuan, mainly due to an increase in short-term financing bonds[43][44] - The company holds 43,442 square meters of land for development in Kangqiao and 54,923 square meters in Xinkaiyuan, with planned construction areas of 130,326 square meters and 54,923 square meters respectively[48] - The company completed the 3-2 project in Jisheyuan with a total investment of 284.348 million yuan and a reported actual investment of 54.9582 million yuan, achieving a completed area of 238,738.70 square meters[49] - The 3-4 project in Jisheyuan is under construction with a total investment of 305.815 million yuan and a reported actual investment of 50.76766 million yuan, covering a construction area of 251,731.25 square meters[49] - The company achieved total sales of 955.5013 million yuan with a sales area of 30,586.47 square meters, and realized a transfer income of 955.5013 million yuan with a transfer area of 30,586.47 square meters[50] - The company's rental income from Zhangjiang Tech Innovation Zone reached 66.8697 million yuan with a rental area of 70,048 square meters[51] - The rental income from Zhangjiang Sihao Phase I was 41.4026 million yuan with a rental area of 33,216 square meters[51] - The rental income from Zhangjiang Sihao Phase II was 23.4291 million yuan with a rental area of 23,666 square meters[51] - The rental income from Zhangjiang Building was 26.4137 million yuan with a rental area of 15,077 square meters[51] - The rental income from Zhangjiang Leader East was 85.7633 million yuan with a rental area of 77,037 square meters[51] - The rental income from Zhangjiang Dream Park was 37.9676 million yuan with a rental area of 35,123 square meters[51] - The rental income from Zhangjiang Chuangqi Tiandi was 52.5252 million yuan with a rental area of 75,975 square meters[51] - Total financing amount at the end of the period is 2,531,210.14 million yuan with an average financing cost of 3.15%[54] - Total investment amount during the reporting period is 87,520.20 million yuan, a decrease of 23.02% compared to the previous year[55] - New financial asset investments include 4,000.00 million yuan in Shanghai Science and Technology Innovation Center Phase II Private Equity Fund Partnership[56] - New financial asset investments include 4,500.00 million yuan in Shanghai Volcanic Stone Phase II Venture Capital Partnership[56] - New financial asset investments include 9,000.00 million yuan in Shanghai Zhangjiang Suifeng Innovation Equity Investment Fund Partnership[56] - New financial asset investments include 3,700.00 million yuan in Shanghai Zhangjiang Suixin Private Equity Fund Partnership[56] - New financial asset investments include 6,000.00 million yuan in Huajin Securities Xinxiang No. 26 Infrastructure Fund Strategy FOF Single Asset Management Plan[56] - New financial asset investments include 12,500.00 million yuan in Shanghai Pudong Leading Area Guotai Junan Technology Innovation No. 1 Private Equity Fund Partnership[56] - New financial asset investments include 2,500.00 million yuan in Shanghai Pudong Leading Area Haitong Private Equity Investment Fund Partnership[56] - New financial asset investments include 30.00 million yuan in Shanghai Chengwei Juxin Enterprise Management Center[56] - Shanghai Zhangjiang Integrated Circuit Industry Zone Development Co., Ltd. achieved a net profit of RMB 771.245 million, contributing 81.36% to the consolidated net profit of the listed company[64] - Shanghai Zhangjiang Microelectronics Port Co., Ltd. reported a net profit of RMB 120.9381 million, a significant decrease from RMB 719.7289 million in the previous year due to the reversal of over-provisioned land value-added tax[65] - Shanghai Jiechang Industrial Co., Ltd. saw a net profit increase to RMB 7.8974 million from RMB 3.7733 million, driven by higher rental income[65] - Shanghai Zhangjiang Haocheng Venture Capital Co., Ltd. recorded a net loss of RMB 82.2925 million, compared to a net loss of RMB 650.636 million in the previous year, due to an increase in the fair value of financial assets[65] - Shanghai Dexin Property Co., Ltd. reported a net profit of RMB 43.0493 million, up from RMB 26.4356 million, as the company did not provide rent reductions for small and medium-sized customers this year[65] - Shanghai Zhangjiang Chuangyeyuan Technology Development Co., Ltd. posted a net loss of RMB 15.7514 million, an improvement from a net loss of RMB 72.0594 million, due to reduced provision for liquidated damages[65] - Shanghai Zhangjiang Haoxin Enterprise Management Co., Ltd. achieved a net profit of RMB 423,900, up from RMB 169,400 in the previous year[63] - Shanghai Zhangjiang Zhixin Urban Construction Co., Ltd. reported a net profit of RMB 11,200, slightly higher than RMB 3,300 in the previous year[63] - Shanghai Zhangjiang Haoji Real Estate Co., Ltd. recorded a net profit of RMB 580,000, compared to a net loss of RMB 40,800 in the previous year[61] - Shanghai Zhangjiang Haocheng Venture Capital Co., Ltd. reported a net loss of RMB 82.2925 million, compared to a net loss of RMB 650.636 million in the previous year, due to an increase in the fair value of financial assets[65] - The company plans to start 3 new projects in 2024 with a total construction area of 348,000 square meters and complete 9 projects with a total area of 1.142 million square meters[68] - The company aims to focus on the "China Core" initiative, leading with Shanghai's integrated circuit design industry and promoting the development of integrated circuit materials and equipment industries[68] - The company will continue to improve the science and technology innovation ecosystem and build a science and technology industry investment holding group[68] - The company will actively explore industrial mergers and acquisitions, focusing on reserving and participating in specialized M&A sub-funds and collaborating with industry leaders to establish CVC funds[68] - The company will accelerate the construction of science and technology innovation space carriers, enhancing the level of industry-city integration[68] - The company will optimize asset allocation and use asset securitization to connect finance and industry[68] - The company will deepen industrial investment promotion and accelerate the creation of world-class