TigerResearch/tigerbot-earning-plugin huggingface dataset:
Subsidiary|disposed in the Reporting Period  How subsidiary was obtained or| Effects on overall operations and operating performance
 ShenzhenWuhe Urban Renewal Co., Ltd.| Newly established| Revenue: RMB18.6755 million Net profit: RMB3.2644 million
 Shenzhen TongluWuhe Investment Development Co., Ltd.| Newly established| Revenue: RMB7.3296 million Net profit: RMB0.5998 million
 YangzhouWuhe Real Estate Co., Ltd.| Newly established| Revenue: RMB0 Net profit attributable to the Company as the parent: RMB-1.8704 million
 Shenzhen Guomao Industrial Space Service Co., Ltd.| Newly established| Revenue: RMB0 Net profit attributable to the Company as the parent: RMB0.0020 million
 Shenzhen PropertyManagement Co., Ltd.| Acquired under common control| Revenue: RMB156.6348 million Net profit: RMB1.7568 million
 Shenzhen Shenwu Elevator Co., Ltd.| Acquired under common control| Revenue: RMB5.3699 million Net profit: RMB0.3131 million
Shenzhen Shenfang Real Estate Cleaning Co., Ltd.| Acquired under common control| Revenue: RMB9.6523 million Net profit: RMB-0.0753 million
 Shenzhen Foreign Trade Property Management Co., Ltd.| Acquired under common control| Revenue: RMB39.5823 million Net profit: RMB2.9049 million
 Shenzhen Shenfubao Property Development Co., Ltd.| Acquired under common control| Revenue: RMB79.8539 million Net profit: RMB-0.7402 million
 Shenzhen Fubao Urban Resource Management Co., Ltd.| Acquired under common control| Revenue: RMB13.6029 million Net profit attributable to the Company as the parent: RMB0.2235 million
 Shenzhen Shenfubao Hydropower Municipal Service Co., Ltd.| Acquired under common control| Revenue: RMB47.5134 million Net profit: RMB-4.5802 million
 Shenzhen Free Trade Zone Security Service Co., Ltd.| Acquired under common control| Revenue: RMB25.2621 million Net profit: RMB0.0788 million
Notes to the principal subsidiaries and joint stock companies:
(I) Industry Overview and Trends
See “I Industry Overview for the Reporting Period”in “Part IIIManagement Discussion andAnalysis”.
(II) The Company’s Development Strategy
As the traditional real estate market’s development declines on the whole, various industrial resources have been continuously occupied by the large-scale brand houses, which has threatened the survival and development of medium and small-sized property companies. “Large-scale Enterprises Taking All Advantages”has become normal in the industry, and the positioning of “Houses are for living in, not for speculating on”has already been established. In this case, Shenzhen Properties & Resources Development(Group)Ltd. specialized in the traditional real estate will be confronted with the extremely severe industrial situation.
In this context, the Company put forward the “12345”overall development idea of “1 Vision + 2 Major Divisions + 3 Driving Factors + 4 Businesses + 5 Value-added Services”. In other words, the Company will take effective measures with the focus on“industrial and urban space asset management”and “space digital ecosystem operation”to develop four major businesses including industrial and urban space development, industrial ecological operation, property management services, and main ecological investment through expanding the main business and making breakthroughs. Meanwhile, the Company will realize rapid deployment and integration of five major value-added services including high-end consulting services, customized housekeeper services, intelligent operation platform, data tapping and commercial ecosystem integration. Base on Shenzhen with scientific and technological innovation as the primary driving force, the Company will include Guangdong, Hong Kong and Macao metropolitan area and surrounding areas to maximize the leverage of capital to build a door type intelligent management and control service platform with smart society basic functions, aiming to build “China’s leading intelligent operator of industrial and urban space”.
In accordance with three-step strategic implementation route of “strengthening bases, brink breakthrough, and focus on leading”, the Company will seek transformation and upgrading in the development base on the current development conditions, and promote incremental development in the transformation to build unique development advantages and create a new pattern of innovation and development of the Company.
(III) Business plan for 2023
In 2022, the management team of the Group conscientiously implemented the decisions and arrangements of the Board of Directors and the Party Committee and carried out work around key tasks. Despite being confronted with various challenges such as economic downturn, the group actively responded, resulting in its major performance indicators consistently ranking among the top non-financial enterprises in the system for multiple years. Regarding project development, milestone objectives were successfully achieved for Bangling project, Guangming Yutang UpperMansion, and Fuchang Phase II project. Concerning capital operation, the group made a strategic investment in China Construction Science and Industry Group's smart parking company, which fortified the group's equity investment portfolio. In all, as the policies and mechanisms of the Group become more flexible, the enthusiasm of cadres and employees for planning and entrepreneurship has been enhanced. Throughout the year, the Group did not suffer any material safety incidents or material risk stability maintenance events, showing a positive and promising opening.
In 2023, the Group will adhere to the general work guideline of "seeking improvement in stability". Guided by Xi Jinping's Socialist Thought with Chinese Characteristics for a New Era, it will deeply study and implement the spirit of the 20th CPC National Congress, deeply understand the decisive significance of the "two establishments", resolutely fulfill the "two safeguards", grasp the major opportunities of Shenzhen's "dual zone" drive, "dual zone" overlap and "dual reform" demonstration, and fully implement the decision and deployment of the State-owned Assets Supervision and Administration Commission of Shenzhen. Meanwhile, it will highlight the target-oriented, problem-oriented and result-oriented practices, focus closely on the core objective of "cash inflow" with precise and continuous efforts, take the initiative to take charge, faithfully perform its duties, and continue to make great efforts in"acceleration, amplification, empowerment and effectiveness".
——Project acceleration: The Group will do a good job of co-ordination, tighten the chain of responsibility, compact the work responsibilities, ensure the rigid constraints of time nodes, focus on solving the outstanding problems that restrict the construction of projects, solidly promote the speed of the projects under construction again, achieve the speed-up of both node construction and sales payment collection and promote, if necessary, the node construction should be subordinated to and serve the sales payment collection.
——Capital amplification: The Group will seize the once-in-a-decade opportunity in the capital market to amplify the functions of state-owned capital and to strengthen and enlarge the listed Company through the two-wheel drive of "equity and debt"; to make good use of the advantages as a state-owned enterprise and the potential of the listing platform to "amplify" the Group's ability to obtain resources.
——Platform empowerment: Focusing on the three major priorities of the Group's headquarters' overseeing empowerment, secondary platform service empowerment, and information technology empowerment, the Group will continue to promote the downward shift of management focus and management capabilities, with the full coverage of the entire Group using Kingdee's financial system, HR system and OA system to integrate and enhance the technical platform and service system for the Group's digital transformation.
——Effective achievement of indicators: Based on the principle of "long-term targets, medium-term expectations and short-term results", the Group will strive to achieve its annual budget targets and to exceed the three-year rolling plan and reach the planned levels. Additionally, it will ensure that the annual sales payment collection, additional financing and investment return targets are achieved.
With a focus on the annual priority tasks, the Group will spare no effort in four work priorities, i.e., project acceleration, capital amplification, platform empowerment and indicator effectiveness, and resolutely overcome a number of difficulties affecting the advancement of major projects. Besides, the Group's development will be guided toward a benign track where business segments and projects move forward together and compete for development. The Group will continue to be a pioneer in enterprise reform and development, comprehensively accomplish the annual tasks and objectives and make new contributions to the Group's high-quality sustainable development and the vision of building China's leading smart operator of industry-city space.
First, the Group will create conditions on the basis of the current resource endowment and business level and strive to accomplish the leading annual indicators according to the plan. Budget targets such as annual revenue and total profit will be achieved. Regarding the sales work, the principle of "early planning, early arrangements and early sales payment collection" will be followed. The group will exert effort to attain the sales target for the Jinling project, deliver and complete the Fuchang Phase II project, and ensure timely opening of projects such as Bangling, Guangming, and Humen.
Second, the Group will overcome difficulties, strengthen node management and achieve the overall acceleration of projects under construction. Schedule control will be intensified, responsibilities will be fulfilled and improvements will be made in the capability of commanding and controlling projects and the operating efficiency. The following work needs to be done for newly started projects in a forward-looking manner, including scheme design, construction drawing design, the determination of cost targets at various phases and the implementation of bidding and tendering plans. Such work will be matched seamlessly with the phased plans and will be carried out ahead of schedule moderately, to ensure that each project is implemented with both quality and quantity guaranteed in strict accordance with the phased plans. Additionally, the pace of the Fuchang Phase II project will be advanced in an orderly manner. The construction progress of the Sea Bay Garden project in Humen Town, Dongguan and theYutang Shangfu project in Guangming District, Shenzhen will be vigorously pushed forward. Continuous efforts will be put into the confirmation of land rights for the Huiyang Danshui project, the establishment of project companies, and the scoping of the renewal unit for the Fuyuan Industry Park project, among others.
Third, the Group will continue to strengthen the building of independent operating capacity of secondary platform companies, the development of platform functions and the playing of roles and stick to the development pattern of real estate as the main business. A standardized model of the whole process of real estate project development will be built. The results of real estate work conferences will be implemented, as well as the improvement plans of "3+1" for project management and "1+5" for cost management. Continuous efforts will be made to improve the project development management system and achieve the complementation, synergy and coordination among the business lines in the Group's project design, construction, bidding and tendering and marketing. In addition, the Group will compare its projects with benchmarking projects of the industry to enhance the management level and build an efficient, standardized model of the whole process of real estate project development to guarantee the efficient and stable operation of projects during the whole life cycle.With respect to the property management segment, the high- quality expansion will be sped up and various steps will be taken to enhance the internal management level. According to the annual target, external M&As and endogenous expansion will be strengthened and the integration of property management assets in the system will continue to be promoted, in a bid to achieve the target of adding 10 million square meters of management scale through M&As within the year. Furthermore, the opportunity from inspection and remediation will be used for comprehensive remediation and the building of a service standardization system will be deepened so that it will match the strategic positioning of the system's property management platform as soon as possible. The focus will be placed on improving the quality and efficiency of stock assets and transformation and upgrading will be accelerated. The growth of annual rental income shall not be less than10% and the average occupancy rate shall not be less than 95%. With the establishment of an indicator system for quality and efficiency improvement assessment of stock properties and an incentive and restraint mechanism, the format transformation and upgrading of old properties will be promoted and the stock asset management will change from "passive lease" to "active operation".
Fourth, the Group will adhere to the Party's overall leadership, promote the decentralization of business focus, the downward shift of management priorities and the penetration of management capabilities. The Group will continue to consolidate the Party building, strengthen the building of grass-roots Party organizations and Party members, give full play to the Party's political leadership to facilitate operation and development and carry out characteristic theme Party building and corporate culture publicity and creation activities in due time. The group will leverage the chance provided by the third round of inspections conducted by the party committee, the second round of follow-up inspections, and the resolution of issues identified in the 2022 administrative supervision and inspection to holistically enhance the group's overall management level. Financial management will aim at improving the efficiency and effectiveness of resource utilization. The corresponding measures include optimizing resource allocation, tightening budget control and assessment, strengthening industry-finance integration, financial analysis and tax management and raising funds through multiple channels. The establishment of an all-around, multi-level incentive and restraint mechanism involving node awards and incremental sharing will continue to be promoted, with secondary and tertiary companies covered by the mechanism. The introduction, cultivation, employment, education and restraint of cadres will be intensified and a talent selection and employment orientation of promoting the capable, awarding the excellent, demoting the mediocre and dismissing the inferior will be formed. Administrative work will be pushed downward, the basic management level of secondary platform companies and tertiary units will be enhanced significantly in the form of resident supervision, and the Group's digital transformation planning will be prepared and implemented. The Group's industrial operation platform of "industry-university- research-application" will be built, the industrial operation system will be improved gradually and the investment attraction capability and level will be enhanced.
Fifth, the Group will be always vigilant about production safety, complaint letters and visits and stability maintenance. The specific measures include strengthening risk control, safeguarding the bottom line of safe production, keeping production safety in a stable situation, deepening the building of safe production standardization and the "dual prevention mechanism", and intensifying regular production safety inspections. In addition, hidden risks will be collated regularly, list management will be implemented for risk points in key areas and key processes, and remediation will be strictly carried out, to ensure that no production safety accident occurs throughout the year.Moreover, the Group will strengthen the dynamic follow-up and implementation of material risks, keep a close watch on wages for migrant workers and labor contract disputes, maintain a strict and tight prevention and control posture, and resolutely safeguard stability and unity.
(IV) Potential risks
1.Market risk
Under the guidance of the policy that "houses are for living in, not for speculating on", the demand side of the real estate market remains in the downward channel. Consequently, the development space of the property industry has been constantly compressed, industry profits have fallen sharply and there has been a shift from land dividends to management dividends. In particular, it poses unprecedented challenges to business capabilities such as cost design and engineering. The advancement of urban renewal projects is confronted with complicated conditions and formidable obstacles and the Company's business and development face opportunities and challenges.
Under grim circumstances, the Company thoroughly studied the opportunities and challenges brought about by macroeconomic trends and policy movements, actively sought the strategic breakthrough direction and adhered to prudent operation. Additionally, it raised funds from multiple channels, focused on enhancing the management level and seized opportunities in the land market. Based in Shenzhen, the Company aims to extend its presence to the Guangdong-Hong Kong-Macao metropolitan area and surrounding areas and strives to improve its sustainable development capabilities.
2. Land Reserve Risk
As a matter of fact, the Company still lacks enough land reserves and development power at later stages. In recent years, the supply of residential land on Shenzhen Market has continuously declined. Various large-scale real estate enterprises have enlarged their market shares and accelerated their M&A pace. While the real estate industry is centralizing, the degree of centralization of the land reserve scale has also been enhanced. As the external environment and the industry’s trend become much more complicated and severe, the increment market scale will further shrink and the market competition will become increasingly fierce.
Facing the challenges, the Company will continue to expand through market competition, capital operation and urban renewal, increase land reserves and promote the launch of projects. In respect to property type, residential projects will focus on Guangdong- Hong Kong-Macao Greater Bay Area, Yangtze River Delta metropolitan area and areas where existing projects locate, and gradually turn to central urban agglomeration surroundingWuhan, key cities in Chengdu- Chongqing in theWest and those in Beijing, Tianjin and Hebei. Urban renewal projects will focus on Shenzhen, Dongguan and Huizhou, and follow-up of urban renewal projects in Guangzhou. Comprehensive industry and urban projects will focus on Guangdong-Hong Kong-Macao Greater Bay Area, Yangtze River Delta region,Wuhan region in the central part and Chengdu-Chongqing area in theWest.
3. Financing Risk
In the process of actively increasing land reserves and accelerating the business development in the recent years, the Company needs to invest a large amount of funds for land acquisition and project development. In addition to its own funds, the Company’s project development funds need to be externally financed through bank loans and issuing securities.
Currently, the Company has steady financial situation and good credit condition, and will further strictly control financial risks, actively explore various financing channels so as to raise funds for project development in the future.
The above business plan and business objectives do not represent the listed Company’s profit forecast for 2023. Whether it can be achieved depends on various factors including changes in market conditions and the effort made by the management team. Investors must pay special attention to that because there exists huge uncertainty.
XII Communications with the Investment Community such as Researches, Inquiries and Interviews during the Reporting Period
Date of visit  Place of visit  Visitor| Way of visit| Type of visitor| Contents and materials provided| Index to relevant
||||information
 The||||
17 February 2022  Comp any  Indivi dual| Other| Individual| Inquiring about land reserve situation| N/A
24 February 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the disclosure time of the 2021 annual report| N/A
 The||||
24 February 2022  Comp any  Indivi dual| Other| Individual| Inquiring about the company's related business layout| N/A
13March 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the company's related business layout| N/A
22March 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the scope of the company's business| N/A
31March 2022  Comp  The  Indivi dual| Other| Individual| Inquiring about the disclosure time of the| N/A
any|||company's quarterly report|
1April 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about dividend distribution| N/A
5April 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the company's fulfillment of social responsibility| N/A
 The||||
7April 2022  Comp any  Indivi dual| Other| Individual| Inquiring about the development of the company's main business| N/A
18April 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about issues related to information disclosure| N/A
27April 2022  The Comp any  Indivi dual| Other| Individual| Inquiring whether the company is launching new businesses| N/A
28April 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about this year's performance highlights| N/A
5May 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the impact of the "Belt and Road" policy on the company's operations| N/A
9May 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the company's land reserve situation and pending development projects| N/A
25May 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the company's profitability| N/A
26May 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the company's land reserve situation| N/A
 The||||
28May 2022  Comp any  Indivi dual| Other| Individual| Inquiring about Jinling sales situation| N/A
28May 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the group's supervision of its subsidiaries| N/A
31May 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the number of shareholders| N/A
1 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about dividend distribution| N/A
6 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the disclosure of the annual report| N/A
7 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the timing of periodic information disclosure| N/A
8 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the status of properties for sale| N/A
10 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the company's shareholder situation| N/A
10 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about dividend distribution| N/A
13 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about dividend distribution| N/A
14 June 2022  The Comp any  Indivi dual| Other| Individual| Inquiring about the number of company shareholders| N/A
15 June 2022  The  Indivi| Other| Individual| Inquiring about the company's future| N/A
any development plan|||
15 June 2022  The Comp any  Indivi dual  Inquiring about the company's investment plan| Other| Individual| N/A
 The|||
16 June 2022  Comp any  Indivi dual  Inquiring about land reserve situation| Other| Individual| N/A
17 June 2022  The Comp any  Indivi dual  Inquiring about the company's future development plan| Other| Individual| N/A
23 June 2022  The Comp any  Indivi dual  Inquiring about dividend distribution| Other| Individual| N/A
1 July 2022  The Comp any  Indivi dual  Inquiring about the Guanlan Bangling project situation| Other| Individual| N/A