A few days ago, Shenzhen Tagen Group Co.Ltd(000090) released the 2021 annual report that during the period, the company achieved an operating revenue of 23.269 billion yuan, a year-on-year increase of 35.88%; The net profit attributable to the shareholders of the listed company was 1.933 billion yuan, a year-on-year increase of 30.09%; The basic earnings per share was 0.96 yuan, a year-on-year increase of 30.16%.
Among them, the revenue of urban construction sector was 14.677 billion yuan, a year-on-year increase of 19.27%; The operating revenue of the comprehensive development sector was 9.839 billion yuan, a year-on-year increase of 42.24%; The operating revenue of urban service sector was 1.225 billion yuan, a year-on-year increase of 17.07%. The above three types of businesses accounted for 57.02%, 38.22% and 5.76% of the total revenue respectively. Although the contribution of urban construction sector is large, the proportion has declined. On the contrary, the proportion of income in the comprehensive development sector increased. Regional distribution shows that Shenzhen Tagen Group Co.Ltd(000090) has high business concentration. In 2021, the proportion of income in Guangdong Province alone reached 84.54%, and the income was 21.761 billion yuan; The second is Guangxi Autonomous Region, accounting for 6.82%, with an income of 1.757 billion yuan; Jiangsu Province, Hunan Province and Shanghai followed.
It is worth noting that although Shenzhen Tagen Group Co.Ltd(000090) ‘s real estate business income increased in 2021, the gross profit margin decreased by 11.42% to 35.96% year-on-year. “The decline in the gross profit of the real estate business is related to the sharp increase in its operating costs, resulting in the continuous narrowing of its profit margin,” said a source close to Shenzhen Tagen Group Co.Ltd(000090) .
According to the data, in 2021, the operating revenue of Shenzhen Tagen Group Co.Ltd(000090) real estate business increased by 42.24% year-on-year, while the operating cost increased by 73.11%, much higher than the growth of operating revenue. Meanwhile, the sales expenses during the year increased by 85.76% to 228 million yuan Shenzhen Tagen Group Co.Ltd(000090) said that it was mainly due to the increase of real estate projects and real estate sales during the period, and the increase of advertising expenses and sales commission.
As of December 31, 2021, Shenzhen Tagen Group Co.Ltd(000090) under construction, on sale and reserve projects have a total construction area of more than 2.6899 million square meters. Among them, there are 8 projects under construction, with a total construction area of 690300 square meters; There are 20 projects on sale, with a total construction area of 2498300 square meters, a cumulative construction area carried forward of 1233500 square meters and an outstanding construction area of 1095000 square meters.
According to the annual report, Shenzhen Tagen Group Co.Ltd(000090) the land reserve project is only one, which is Shenzhen Xili Auto City project. According to the data, the project is located in Shuguang area in the south of liuxiandong area in the southwest of Shenzhen, covering an area of 90500 square meters. The nature of the land is storage and logistics land. In fact, the project was achieved in 2015. Because the project is within the planning scope of Shenzhen Xili hub, the construction of Xili comprehensive hub is led by the government and China Railway Corporation, and the surrounding land is controlled, which eventually leads to the failure of the project to develop on schedule.
Due to the small reserves of the project, Shenzhen Tagen Group Co.Ltd(000090) also acquired the land by purchasing assets from the controlling shareholder. On February 7 this year, Shenzhen Tagen Group Co.Ltd(000090) announced that the real estate group, a wholly-owned subsidiary of the company, acquired 70% of the equity of shenxingchen company for 202 million yuan, while shenxingchen company was held by the controlling shareholder of the listed company, the special zone construction engineering group.
It is reported that the main assets of shenxingchen company are parcel a6410025 located in the east area of Guangming high tech Industrial Park in Shenzhen. The capacity building area of the plot is 183600 square meters and the saleable area is 172000 square meters. After the acquisition, the chairman and general manager of shenxingchen company will be recommended by the real estate group Shenzhen Tagen Group Co.Ltd(000090) said that the transaction is a related party transaction. In this way, high-quality plots in Shenzhen can be obtained, and subsequent development and sales will further provide resource guarantee for the company’s comprehensive development business.
