On March 30, Seazen Holdings Co.Ltd(601155) ( Seazen Holdings Co.Ltd(601155) ) disclosed the annual report of 2021. In 2021, the company achieved a sales amount of 233775 billion yuan, a cumulative sales area of about 235473 million square meters, and an operating revenue of 168232 billion yuan, a year-on-year increase of 15.64%; During the reporting period, the net profit attributable to the shareholders of the listed company was 12.598 billion yuan and the net profit not attributable to the parent company was 10.245 billion yuan. By the end of the reporting period, the total assets of the company had reached 534293 billion yuan; The net assets attributable to shareholders of listed companies were 59.310 billion yuan, a year-on-year increase of 17.23%.
By the end of 2021, Seazen Holdings Co.Ltd(601155) had a cash balance of 55.226 billion yuan, with a cash short debt ratio of 1.07 times; The net debt ratio was 48.12%; After excluding contract liabilities and advance receipts, the asset liability ratio of the company was 69.95%, a decrease of 4.18 percentage points compared with the same period of the previous year. If the calculation criteria of monetary funds and short-term loans are directly used, the cash short-term debt ratio of the company is 1.92 times.
As of the end of the reporting period, the net operating cash flow of the company was 21.985 billion yuan, a year-on-year increase of 565718%, and the operating cash flow was positive for four consecutive years; The overall average financing cost of the company was 6.57%, a year-on-year decrease of 0.15 percentage points. In 2021, the weighted average return on net assets (ROE) reached 22.73%, ranking in the forefront of the industry.
According to the annual report, in 2021, Seazen Holdings Co.Ltd(601155) achieved a total revenue of 8.639 billion yuan from commercial operations, an increase of 51% year-on-year. By the end of the reporting period, the opening area of Wuyue Plaza had reached 124838 million square meters, and the overall rental rate was 97.63%. In addition, the gross profit margin of property rental and management was as high as 72.64%. According to the annual report, in 2021, the income from continuing operations of Seazen Holdings Co.Ltd(601155) business significantly exceeded the current interest expenditure, about 139.36%.
In terms of business expansion, in 2021, the company newly opened and managed 30 Wuyue squares. As of March 25, 2022, Seazen Holdings Co.Ltd(601155) has opened and managed 130 Wuyue squares, of which 85% are located in 19 national urban agglomerations, covering 80% of the country's GDP. The company plans to open 25 new Wuyue squares in 2022, with a total of 155 by the end of 2022, and the annual total revenue target of commercial operation is 10.5 billion yuan.
In the land market, by the end of 2021, Seazen Holdings Co.Ltd(601155) total land reserves had reached 138 million square meters, of which 37% were first and second tier cities and 30% were third and fourth tier cities in the Yangtze River Delta; From the perspective of regional division, the Yangtze River delta accounts for 37%, and the Great Bay area of Guangdong, Hong Kong and Macao, the Bohai rim and the central and western metropolitan area account for 63%.
Seazen Holdings Co.Ltd(601155) said that since the second half of 2021, Seazen Holdings Co.Ltd(601155) took many measures to boost the development of the company and safeguard the interests of investors, including early redemption of US dollar bonds, early cashing of medium-term notes, senior executives' purchase of corporate bonds in the secondary market, etc. On the occasion of the disclosure of the 2021 annual report, Seazen Holdings Co.Ltd(601155) also announced that it planned to repurchase the company's shares with its own funds of no less than 100 million yuan and no more than 200 million yuan.
It is worth mentioning that Seazen Holdings Co.Ltd(601155) disclosed its interest bearing liabilities of joint venture equity for the first time since its listing. The annual report of 2021 shows that the interest bearing liabilities of the company's joint venture equity are only RMB 11.513 billion.
