Large increase in operating costs Chengdu Hi-Tech Development Co.Ltd(000628) increase in revenue without increasing profit in 2021

Chengdu Hi-Tech Development Co.Ltd(000628) (000628. SZ) the performance express released on February 21 shows that in 2021, the company achieved a revenue of 6.612 billion yuan, a year-on-year increase of 19.50%; The net profit attributable to the shareholders of the listed company was 164 million yuan, a year-on-year decrease of 32.10%; The non net profit deducted was 135 million yuan, a year-on-year decrease of 24.58%; The basic earnings per share was 0.464 yuan, a year-on-year decrease of 39.35%.

The company said that during the reporting period, the operating revenue of the construction industry of the company was about 6.1 billion yuan, an increase of about 36% over the same period of last year, but the growth rate of operating revenue slowed down compared with the same period of last year due to the construction progress of the construction unit. Most of the projects undertaken by the construction industry of the company are housing construction projects. The proportion of municipal projects with relatively high gross profit has decreased, and the price of raw materials has increased, resulting in a decrease of about 1.6 percentage points in the gross profit margin of the construction industry compared with the same period of last year.

In 2021, the operating revenue of Chengdu Hi-Tech Development Co.Ltd(000628) smart city construction, operation and related services was about 85 million yuan, a decrease of about 53% over the same period of last year, mainly due to the impact of the construction progress of new infrastructure projects in Chengdu high tech Zone, resulting in the corresponding decline of contribution profits.

In addition, as of the end of the reporting period, Chengdu Hi-Tech Development Co.Ltd(000628) jiayuehui project's project receivables amounted to 441.7788 million yuan. Because the construction unit of the project did not fully pay the project funds in accordance with the contract, the company has filed an arbitration application with Chengdu Arbitration Commission to request the construction unit to pay the project funds and overdue interest to the company, And confirm that the company has the priority to be compensated for the construction project price. Up to now, the property preservation of the case has been completed and the arbitration is still in the process of trial. With the aging of the project accounts receivable of jiayuehui project, the amount of bad debt provision in the reporting period is about 56 million yuan, an increase of about 34 million yuan over the same period of last year.

On February 22, Chengdu Hi-Tech Development Co.Ltd(000628) closed at 11.27 yuan / share, down 1.57%.

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