JINGRUI HLDGS(01862)

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景瑞控股(01862) - 2023 - 年度财报
2024-04-24 08:33
Financial Performance - Total revenue for 2023 was RMB 7,294.5 million, a decrease of 7.8% compared to RMB 7,907.9 million in 2022[15] - Gross profit increased significantly to RMB 464.3 million, with a gross margin of 6.4%, up from 1.5% in the previous year[15] - The net loss attributable to shareholders was RMB 1,721.2 million, a reduction of 59.7% from RMB 4,269.8 million in 2022[15] - Revenue from property sales was RMB 6,265.8 million, down 8.0% from RMB 6,807.9 million in 2022, primarily due to lower average selling prices in second and third-tier cities[47] - The company's revenue for the year was RMB 7,294.5 million, compared to RMB 7,907.9 million in 2022, reflecting a decline of 7.7%[47] - Revenue from property sales accounted for 85.9% of total revenue, amounting to RMB 6,265.8 million, down 8.0% from RMB 6,807.9 million in 2022[69][73] Sales and Contracted Sales - Contracted sales amount decreased by 46.5% to RMB 3,787.4 million, with a contracted sales area of 210,469 square meters, down 50.7% from 427,019 square meters in 2022[16] - In 2023, the total contracted sales amount for the company was approximately RMB 3.787 billion, a decrease of 46.5% compared to RMB 7.076 billion in 2022[25] - The company's contracted sales amounted to approximately RMB 3,787.4 million in 2023, a decrease of 46.5% from RMB 7,075.6 million in 2022[47] - The total area of contracted sales was about 210,469 square meters, down from 427,019 square meters in the previous year[47] Debt and Financial Position - The net debt-to-equity ratio increased to 386% in 2023 from 267% in 2022, indicating a higher leverage position[17] - The company has initiated a debt restructuring plan for its offshore US dollar senior notes due to liquidity challenges[25] - The company's bank deposits and cash on hand, including restricted cash, amounted to RMB 626.3 million[48] - The net debt-to-capital ratio was approximately 386%[48] - Total outstanding borrowings decreased from RMB 18,412.7 million in 2022 to RMB 16,876.1 million in 2023, a reduction of 8.3%[91] Operational Strategy and Development - The company aims to enhance operational capabilities and asset value while focusing on core cities and urban areas[19] - The company plans to prioritize asset revitalization and improve delivery capabilities to gain trust from stakeholders[19] - The company is committed to a dual-driven business model focused on customer value, emphasizing light asset operations and refined management[9] - The company plans to deepen its asset management model and enhance operational capabilities to increase asset value and achieve high-quality growth[32] - The company plans to continue its development strategy focused on the Yangtze River Delta region and expand into key cities surrounding it[48] Market and Industry Trends - The total investment in real estate development nationwide in 2023 was RMB 1,109.13 billion, a decrease of 9.6% year-on-year[23] - The total sales area of commercial housing nationwide in 2023 was 1,117.35 million square meters, down 8.5% from the previous year[23] - In 2024, the real estate market is expected to experience a gradual recovery supported by favorable policies, including financial support for three major projects and a reduction in housing transaction taxes[30] Employee and Management Information - The company's employee costs for the year were RMB 226.3 million, significantly reduced from RMB 436.5 million in the previous year[68] - The company employed 2,990 full-time employees as of December 31, 2023, down from 3,082 employees in 2022[65] - The total number of employees as of December 31, 2023, is 2,990, with male employees accounting for 54.0% and female employees 46.0%[142] Corporate Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules, ensuring compliance with high standards of corporate governance[126] - The board consists of three executive directors, one non-executive director, and three independent non-executive directors, maintaining a strong independence structure[131] - The independent non-executive directors have been assessed for independence and are deemed to meet the criteria set forth in the Listing Rules[134] - The company has established a whistleblowing policy to allow employees to report concerns regarding financial reporting and internal controls confidentially[165] - The board has established three committees, including the audit committee, remuneration committee, and nomination committee, to oversee specific aspects of the company's affairs[130] Risk Management - The company’s risk management and internal control systems are deemed effective and sufficient by the board of directors[190] - The Audit Committee is responsible for monitoring the integrity of the financial statements and ensuring compliance with accounting standards and legal regulations[162] - The company conducts regular reviews of its risk management policies and internal controls to ensure compliance with applicable laws and regulations[184] Future Outlook - Future outlook for 2024 indicates a gradual recovery in the real estate market supported by favorable policies, with a focus on maintaining stakeholder interests and enhancing delivery capabilities[108] - The company plans to hold its annual general meeting on June 18, 2024, to present independent resolutions for shareholder voting[196]
景瑞控股(01862) - 2023 - 年度业绩
2024-03-28 12:59
Financial Performance - For the year ended December 31, 2023, the contracted sales amounted to approximately RMB 3,787.4 million, a decrease of 46.5% compared to the previous year[4]. - Revenue for the year was RMB 7,294.5 million, representing a decline of approximately 7.8% year-on-year, with a gross profit of RMB 464.3 million and a gross margin of 6.4%[4]. - The company recorded a net loss of RMB 1,841.3 million for the year[4]. - Basic and diluted loss per share for the year was RMB 1.12, compared to RMB 2.78 in the previous year[7]. - The group recorded a loss of approximately RMB 1,841,331,000 for the year ended December 31, 2023, with total borrowings amounting to RMB 16,876,122,000, of which RMB 12,304,443,000 is due within the next twelve months[20]. - The net loss attributable to equity holders for the year was RMB 1,721.2 million, an improvement from a loss of RMB 4,269.8 million in 2022[72]. - The group reported a loss before tax of RMB 1,715,512 for the year, compared to a loss of RMB 4,091,441 in the previous year, indicating an improvement[36]. Assets and Liabilities - As of December 31, 2023, total assets were RMB 39,507.6 million, with a net debt-to-capital ratio of approximately 386%[4]. - The total cash and bank deposits, including restricted cash, amounted to RMB 626.3 million as of December 31, 2023[4]. - The total outstanding borrowings decreased from RMB 18,412.7 million at the end of 2022 to RMB 16,876.1 million at the end of 2023[111]. - The net debt-to-equity ratio was approximately 386% as of December 31, 2023, indicating significant leverage[74]. - The total amount of other receivables decreased from RMB 6,726,171,000 in 2022 to RMB 6,380,895,000 in 2023, a reduction of about 5.1%[57]. - The total trade and other payables as of December 31, 2023, were RMB 8,233,763 thousand, down 9.5% from RMB 9,093,677 thousand in 2022[65]. Cash Flow and Financing - The group has not paid the principal and interest on several priority notes, resulting in overdue borrowings of RMB 9,693,935,000[23]. - The group is actively communicating with lenders to ensure repayment according to the original schedule, despite the absence of immediate repayment requests[24]. - The group plans to accelerate the pre-sale and sale of properties to improve cash flow and has identified potential buyers for certain held properties to supplement operating funds[24]. - The group aims to maintain sufficient funds to meet its financial obligations over the next 12 months, despite uncertainties in the real estate market and financing support[25]. - The group will continue to seek refinancing opportunities, including the exchange of existing priority notes or other borrowings[28]. - The net financing costs decreased to RMB 898.5 million from RMB 1,830.1 million year-on-year[5]. Revenue Sources - The property development platform generated revenue of RMB 6,338,614, while the real estate platform and other platforms contributed RMB 212,389 and RMB 824,585, respectively[36]. - Revenue from property sales amounted to RMB 6,265.8 million, representing 85.9% of total revenue, and decreased by 8.0% compared to RMB 6,807.9 million in the previous year[92]. - The rental income decreased by 27.6% to RMB 170.4 million from RMB 235.3 million in the previous year[92]. - The property management services revenue increased by 1.7% to RMB 793.7 million, up from RMB 780.1 million in the previous year, accounting for 10.9% of total revenue[92]. Operational Efficiency - The company reported a significant reduction in administrative expenses, down to RMB 310.8 million from RMB 922.5 million in the previous year[5]. - The total expenses for sales costs, marketing costs, and administrative expenses decreased from RMB 9,275,706,000 in 2022 to RMB 7,461,977,000 in 2023, representing a reduction of approximately 19.5%[43]. - The cost of properties sold decreased from RMB 6,945,936,000 in 2022 to RMB 6,120,384,000 in 2023, a decline of about 11.9%[43]. - Employee costs for the year amounted to RMB 226.3 million, significantly lower than RMB 436.5 million in the previous year[90]. Corporate Governance - The board of directors did not recommend the payment of a final dividend for the year ended December 31, 2023[4]. - The company has adopted the corporate governance code as per the listing rules and has been compliant with most principles, although it deviated from certain provisions[133]. - The chairman and CEO roles are held by the same individual, which deviates from the corporate governance code[134]. - The company is currently seeking suitable candidates to comply with the corporate governance code regarding independent non-executive directors[138]. Market Conditions - The global economic growth rate is projected to decline from 2.7% in 2023 to 2.4% in 2024, impacting market conditions[67]. - The company’s strategic product positioning is expected to expand its potential customer base due to rapid economic growth and urbanization in the Yangtze River Delta region[75]. - The company has a strong focus on developing properties tailored to first-time homebuyers and those looking to improve their living conditions, which constitute a significant portion of the market[75].
景瑞控股(01862) - 2023 - 中期财报
2023-09-28 08:34
Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 2,570.6 million, representing a 4.0% increase from RMB 2,471.2 million in 2022[16]. - Gross profit decreased significantly to RMB 40.0 million, with a gross profit margin of 1.6%, down from 8.2% in the previous year[16][20]. - The net loss attributable to equity holders for the period was RMB (1,363.9) million, a slight improvement from RMB (1,462.1) million in 2022, reflecting a 6.7% decrease in losses[16]. - Revenue from property sales for the first half of 2023 was RMB 2,066.7 million, an increase of approximately 8.6% compared to the same period last year[72]. - Revenue from property sales accounted for 80.4% of total revenue, amounting to RMB 2,066.7 million, which is an 8.6% increase compared to RMB 1,902.2 million in the corresponding period of 2022[95][99]. - The rental income decreased by 29.2% to RMB 84.1 million, down from RMB 118.8 million in the same period last year[95]. - The Group's cost of sales amounted to RMB 2,530.6 million, an increase of 11.6% compared to RMB 2,268.3 million in the same period last year, aligning with revenue growth[108]. - Gross profit for the first half of 2023 was RMB 40.0 million, with a gross profit margin of 1.6%, down from RMB202.9 million and 8.2% in the same period of 2022, primarily due to lower selling prices and higher land costs[113]. Sales and Contracted Values - Contracted sales value dropped to RMB 2,462.0 million, a decline of 45.4% compared to RMB 4,509.0 million in the same period last year[18]. - Contracted sales area also fell by 52.5% to 135,565 sq.m. from 285,518 sq.m. in 2022[18]. - The average contracted selling price increased by 15.0% to RMB 18,161 per sq.m. from RMB 15,792 per sq.m. in the previous year[18]. - For the six months ended June 30, 2023, Jingrui achieved a total contracted sales value of approximately RMB2.462 billion, representing a decrease of 45.4% compared to RMB4.509 billion in the same period last year[30]. - The contracted sales area for the same period was approximately 135,565 sq.m., with an average contracted selling price of RMB18,161/sq.m.[30]. Market Conditions and Challenges - Future guidance remains cautious due to prevailing market conditions, with a focus on stabilizing sales and improving profitability[16]. - The central government's focus for real estate regulation in 2023 is on "risk prevention and market stabilization," with no strong stimulus measures introduced[25]. - The recovery of real estate sales data in Q2 2023 was below expectations, indicating continued pressure on real estate enterprises[54]. - The sales area of commercial properties in China decreased by 5.3% year-on-year, while the sales area of residential properties declined by 2.8% in the first half of 2023[24]. - The area of new housing construction by real estate developers decreased by 24.3% year-on-year, while the area of housing completion increased by 19.0%[24]. Debt and Liquidity - The net debt-to-capital ratio increased to 333% as of June 30, 2023, compared to 267% at the end of 2022[20]. - Jingrui is facing liquidity difficulties and has engaged financial and legal advisors to initiate debt restructuring for its offshore USD denominated senior notes[32]. - The Group's bondholders agreed to suspend payments on RMB denominated bonds until July 31, 2024, with gradual repayments starting thereafter[32]. - As of June 30, 2023, cash at bank and on hand decreased by approximately 13.9% to RMB1,164.2 million from RMB1,352.1 million as of December 31, 2022[136]. - Total outstanding borrowings decreased from RMB18,412.7 million as of December 31, 2022 to RMB17,831.6 million as of June 30, 2023[137]. - Current borrowings increased by 10.3% to RMB14,672.3 million compared to RMB13,296.7 million as of December 31, 2022[143]. - Non-current borrowings decreased significantly by 38.2% to RMB3,159.3 million from RMB5,116.0 million[143]. Operational Efficiency and Strategy - The company is focusing on market expansion and new product development to improve future performance[16]. - Management indicated ongoing efforts to enhance operational efficiency and reduce costs in response to market challenges[16]. - The company aims to reduce liabilities and leverage while enhancing operational and service capabilities in response to the current real estate market challenges[48]. - Jingrui has focused on revitalizing inefficient and non-core assets to enhance quality and profitability[37]. - The company plans to continue exploring new business strategies under the new real estate development model to create new value[48]. Corporate Governance - The Company has complied with the Corporate Governance Code provisions for the six months ended June 30, 2023, except for deviations regarding the roles of chairman and chief executive officer[179]. - The Board comprises three executive Directors, one non-executive Director, and three independent non-executive Directors, ensuring a strong independence element in its composition as of June 30, 2023[180]. - The Audit Committee, consisting of three independent non-executive Directors, reviewed the unaudited interim report for the six months ended June 30, 2023[192]. - The Board confirmed that there are currently no plans for significant investments aside from routine property development and seeking potential independent third-party investors for various projects[174]. - The Board resolved not to declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[177].
景瑞控股(01862) - 2023 - 中期业绩
2023-08-30 13:06
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性或完 整性亦不發表任何聲明,並明確表示,概不就因本公告全部或任何部分內容所產生或因依賴該等內 容而引致的任何損失承擔任何責任。 JINGRUI HOLDINGS LIMITED 景瑞控股有限公司* (於開曼群島註冊成立的有限公司) (股份代號:01862) (債券股份代號:40659及40866) 中期業績公告 截至2023年6月30日止六個月 中期業績摘要 • 截至2023年6月30日止六個月,本集團合約銷售額約為人民幣2,462.0百萬元,較去年同期下 降約45.4%。 • 截至2023年6月30日止六個月,本集團的收入達人民幣2,570.6百萬元,較去年同期增加約 4.0%。毛利為人民幣40.0百萬元,毛利率為1.6%。 • 截至2023年6月30日止六個月,本集團淨虧損為人民幣1,353.9百萬元。 ...
景瑞控股(01862) - 2022 - 年度财报
2023-04-27 09:30
Financial Performance - Total revenue for 2022 was RMB 7,907.9 million, a decrease of 41.6% from RMB 13,551.6 million in 2021[12] - Gross profit dropped to RMB 115.2 million, representing a gross margin of 1.5%, down from 18.0% in 2021[12] - The net loss attributable to equity holders was RMB 4,269.8 million, compared to a net profit of RMB 127.5 million in 2021[49] - Revenue from property sales was RMB 6,807.9 million, down 44.0% from RMB 12,150.4 million in 2021, accounting for 86.1% of total revenue[49] - The company's gross profit decreased by 94.9% from RMB 2,440 million in 2021 to RMB 115.2 million in 2022, resulting in a gross margin of approximately 1.5% compared to 18.0% in the previous year[85] - The company's net financing income decreased by 49.3% to RMB 299.3 million in 2022, while financing costs surged by 147.8% to RMB 2,129.4 million, attributed to rising borrowing rates and currency exchange losses[92] Sales and Contracted Sales - Contracted sales amounted to RMB 7,075.6 million, a significant decline of 73.8% compared to RMB 27,011.1 million in the previous year[13] - The average contracted sales price per square meter decreased by 12.1% to RMB 16,569.8 from RMB 18,849.3[13] - The total contracted sales area for the company reached 427,019 square meters, generating a total sales amount of RMB 7,075.615 million, with an average selling price of RMB 16,570 per square meter[61] - The total sales area of commercial housing in China was 1.358 billion square meters, a decrease of 24.3%, with residential sales area down by 26.8%[20] Debt and Financial Leverage - The net debt-to-equity ratio surged to 267% in 2022, up from 94% in 2021, indicating increased financial leverage[14] - As of December 31, 2022, the group's bank deposits and cash (including restricted cash) totaled RMB 1,352.1 million, with unused bank credit lines of approximately RMB 21,938.4 million[51] - The total outstanding borrowings decreased from RMB 21,598 million at the end of 2021 to RMB 18,412.7 million by the end of 2022[100] - Short-term borrowings accounted for 72.2% of total borrowings in 2022, up from 50.6% in 2021[103] Operational Strategy - The company aims to enhance operational capabilities and asset value by focusing on core cities and urban areas[17] - The company plans to prioritize "delivery capability" to gain trust from government, homebuyers, and investors amid liquidity challenges[17] - The company is committed to a "light asset" operational model, focusing on quality improvement and operational efficiency[7] - The company aims to enhance liquidity by actively seizing financing opportunities, focusing on "ensuring delivery" as a core task amidst the current liquidity challenges in the real estate market[32] Market Conditions - The real estate development investment in China for 2022 was RMB 13.29 trillion, a decline of 10% year-on-year, with residential investment down by 9.5%[20] - The real estate market in 2023 is expected to remain in a "de-stocking" phase, with a focus on ensuring project delivery and improving financing conditions for real estate companies[30] - The outlook for 2023 indicates that the Chinese real estate market will continue to focus on "housing for living, not for speculation," with policies on both supply and demand expected to be further optimized[117] Corporate Governance - The board of directors consists of three executive directors, one non-executive director, and three independent non-executive directors, ensuring compliance with listing rules regarding independent director appointments[139] - The company has established four board committees: audit committee, remuneration committee, nomination committee, and risk management committee to oversee specific aspects of the company's affairs[138] - The company is committed to maintaining high standards of corporate governance to protect shareholder interests and enhance corporate value[136] - The board has confirmed the effectiveness of independent non-executive directors in providing independent views and opinions as of the year ending December 31, 2022[143] Employee and Workforce Management - As of December 31, 2022, the company employed 3,082 full-time employees, a slight decrease from 3,160 employees in the previous year[73] - The total employee cost for the year was RMB 436.5 million, down from RMB 495.1 million in the previous year, reflecting a decrease in workforce[74] - The company has a total of 3,082 employees as of December 31, 2022, with male employees accounting for 58.3% and female employees for 41.7%[152] Asset Management and Investments - The company established 25 funds under its asset management platform, with a total fund management scale of approximately RMB 9.22 billion as of December 31, 2022[24] - The company’s investment platform, Hefeng Capital, has invested a total of RMB 1.164 billion in 15 projects, achieving an exit from 4 projects with a return rate of 18.1%[25] - The company aims to optimize its capital structure through its real estate fund platform, enhancing fundraising and asset management capabilities[67] Awards and Recognition - The company received multiple awards in 2022, including "Influential Real Estate Brand of the Year" and "Best Operator for Urban Renewal"[4] - The company has been recognized with awards such as "Top 100 Comprehensive Strength Property Service Enterprises in China 2022" and "Outstanding Property Brand Enterprise 2022"[29]
景瑞控股(01862) - 2022 - 年度财报
2023-04-12 08:30
Financial Performance - Total revenue for 2021 was RMB 13,551.6 million, a 6.0% increase from RMB 12,782.4 million in 2020[11] - Gross profit for 2021 was RMB 2,440.0 million, with a gross margin of 18.0%, down from 19.6% in 2020[11] - Core net profit attributable to shareholders was RMB 126.8 million, a significant decrease of 86.9% from RMB 965.2 million in 2020[11] - The net profit for the year 2021 was RMB 393.8 million, with profit attributable to equity holders amounting to RMB 127.5 million[96] - Revenue from property sales amounted to RMB 12,150.4 million, representing 89.7% of total revenue, with a year-on-year increase of 1.5%[79] - Property management service revenue increased by approximately 37.4% to RMB 723.1 million, driven by a significant increase in managed building area and third-party property management fees[81] Sales and Contracted Projects - Contracted sales amount reached RMB 27,011.1 million, a 5.9% increase compared to RMB 25,507.0 million in 2020[12] - The average contracted sales price per square meter decreased by 14.5% to RMB 18,849.3 in 2021 from RMB 22,033.3 in 2020[12] - In 2021, the company achieved a contracted sales amount of approximately RMB 27.011 billion, representing a year-on-year growth of 5.9% compared to RMB 25.507 billion in 2020[21] - The company reported a total contracted sales area of 1,433,005 square meters, excluding parking spaces[59] Debt and Financial Position - The net debt-to-equity ratio rose to 94% in 2021, compared to 69% in 2020, indicating increased leverage[13] - As of December 31, 2021, the company's cash and bank deposits reached RMB 10,991.0 million, with unused bank credit lines of approximately RMB 25,896.4 million[51] - The total outstanding borrowings increased to RMB 21,598.0 million from RMB 21,444.8 million as of December 31, 2020[101] - The net debt-to-capital ratio was approximately 94%, indicating a reasonable level of debt relative to the company's current development stage[51] Strategic Focus and Business Development - The company aims to transition from a traditional developer to an asset management service provider, focusing on light asset operations and customer value[7] - The company plans to enhance operational capabilities and reduce debt to achieve quality growth amid macroeconomic changes[7] - The company plans to continue focusing on core urban areas and enhancing the value of existing assets through urban renewal and refined operations[21] - The company aims to promote the development of long-term rental housing and support the reasonable housing needs of buyers in the future[19] Market and Industry Trends - The real estate development investment in China grew by 4.4% in 2021, with total sales area reaching 1.79433 billion square meters, an increase of 1.9%[19] - The total sales amount of commercial housing in China was RMB 1.8193 trillion, reflecting a growth of 4.8%[19] - The overall sales target completion rate for the real estate industry in 2021 was significantly lower than the previous year due to tightened loans and decreased buyer confidence[45] Corporate Governance - The company has maintained high standards of corporate governance to protect shareholder rights and enhance corporate value and accountability[136] - The company adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with it for the year ending December 31, 2021[136] - The board consists of four executive directors and three independent non-executive directors, ensuring strong independence[139] - The company has established four board committees: Audit Committee, Remuneration Committee, Nomination Committee, and Risk Management Committee[138] Risk Management - The company is committed to maintaining effective risk management and internal control systems[164] - The Risk Management Committee is responsible for reviewing the effectiveness of the risk management and internal control systems annually[175] - The company has a structured process for identifying, assessing, and managing significant risks, including risk evaluation and reporting procedures[183] Employee and Operational Metrics - The company employed 3,160 full-time employees as of December 31, 2021, an increase from 3,017 employees the previous year[76] - The occupancy rate for rental apartment projects was 94.9% and for office projects was 78.5% as of December 31, 2021[70] Future Outlook - The outlook for 2022 indicates a focus on stable growth and risk prevention in the real estate sector, with policies promoting healthy development[117] - The company aims to enhance product quality and operational capabilities while deepening its asset management model[117]
景瑞控股(01862) - 2022 - 年度业绩
2023-03-31 04:00
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性 或完整性亦不發表任何聲明,並明確表示,概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 JINGRUI HOLDINGS LIMITED 景 瑞 控 股 有 限 公 司 * (於開曼群島註冊成立的有限公司) (股份代號:01862) (債券股份代號:40659及40866) 年度業績公告 截至2022年12月31日止年度 年度業績摘要 • 截至2022年12月31日止年度的合約銷售額約為人民幣7,075.6百萬元,較 上年降低73.8%。 • 截至2022年12月31日止年度的收入為人民幣7,907.9百萬元,較去年下降 約41.6%。毛利為人民幣115.2百萬元,毛利率為1.5%。 • 截至2022年12月31日止年度本集團錄得年內淨虧損人民幣4,277.9百萬元。 • 於2022年12月31日的總資產為人民幣47,109.8百萬元。 ...
景瑞控股(01862) - 2022 - 年度业绩
2023-03-30 14:53
香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責,對其準確性 或完整性亦不發表任何聲明,並明確表示,概不就因本公告全部或任何部分內容所產生或因依 賴該等內容而引致的任何損失承擔任何責任。 JINGRUI HOLDINGS LIMITED 景 瑞 控 股 有 限 公 司 * (於開曼群島註冊成立的有限公司) (股份代號:01862) (債券股份代號:40659及40866) 年度業績公告 截至2022年12月31日止年度 年度業績摘要 • 截至2022年12月31日止年度的合約銷售額約為人民幣7,075.6百萬元,較 上年降低73.8%。 • 截至2022年12月31日止年度的收入為人民幣7,907.9百萬元,較去年下降 約41.6%。毛利為人民幣115.2百萬元,毛利率為1.5%。 • 截至2022年12月31日止年度本集團錄得年內淨虧損人民幣4,277.9百萬元。 • 於2022年12月31日的總資產為人民幣47,109.8百萬元。 ...
景瑞控股(01862) - 2021 Q4 - 年度财报
2022-03-30 22:52
Financial Performance - The contract sales amount for the year ended December 31, 2021, was approximately RMB 27,011.1 million, an increase of 5.9% compared to the previous year[4] - Revenue for the year ended December 31, 2021, was RMB 13,551.6 million, up 6.0% year-on-year, with a gross profit of RMB 2,440.0 million and a gross margin of 18.0%[4] - The net profit recorded for the year was RMB 393.8 million, a significant decline of 69.1% compared to the previous year[4] - Total comprehensive income for the year was RMB 478.6 million, compared to RMB 1,237.0 million in the previous year[7] - Basic earnings per share dropped to RMB 0.08 in 2021 from RMB 0.68 in 2020, a decline of approximately 88.2%[37] - The group reported a total segment profit of RMB 1,040,258 thousand, a decrease from RMB 2,339,006 thousand in the previous year[23][24] - Financial income for the year was RMB 590,338 thousand, while financing costs amounted to RMB (859,158) thousand[23] - Other income for the year was RMB 20,574 thousand, a significant decrease from RMB 223,121 thousand in 2020[26] - The share of losses from joint ventures and associates amounted to RMB 155.4 million in 2021, compared to a profit of RMB 170.6 million in 2020, mainly due to decreased demand for commercial real estate rentals[95] Assets and Liabilities - Total assets as of December 31, 2021, amounted to RMB 63,249.7 million, a decrease of 7.4% from December 31, 2020[4] - The net debt-to-capital ratio was approximately 94% as of December 31, 2021, an increase of 25 percentage points from the previous year[4] - The group’s total assets as of December 31, 2021, were RMB 139,119,181 thousand, with total liabilities of RMB 127,888,093 thousand[23] - The total amount of receivables from joint ventures and associates decreased significantly from RMB 3,124,230,000 in 2020 to RMB 1,861,356,000 in 2021, a drop of about 40%[40] - Trade payables increased from RMB 3,994,211,000 in 2020 to RMB 4,569,378,000 in 2021, reflecting an increase of approximately 14%[47] - The total liabilities for trade and other payables decreased from RMB 18,905,889,000 in 2020 to RMB 14,298,815,000 in 2021, a reduction of about 24%[47] Cash Flow and Financing - The total cash and cash equivalents were RMB 10,991.0 million as of December 31, 2021[4] - The company faced a default event leading to the immediate repayment of borrowings totaling RMB 1,438,800,000, including overdue priority notes of RMB 93,000,000[16] - The company has developed plans to alleviate liquidity pressure and improve cash flow, including adjusting sales activities and enhancing communication with banks for timely project financing[18] - The company will continue to actively seek refinancing options, including the exchange of existing priority notes or other borrowings[18] - Total outstanding borrowings increased from RMB 21,444.8 million on December 31, 2020, to RMB 21,598.0 million on December 31, 2021[100] - Short-term borrowings accounted for 49.5% of total borrowings in 2021, compared to 42.6% in 2020[103] Business Operations - The company has segmented its operations into three business divisions for resource allocation and performance assessment[21] - Property development platform revenue reached RMB 12,695,876 thousand, contributing the majority to total revenue[23] - Property management service revenue increased significantly to RMB 723,098 thousand from RMB 526,368 thousand, marking a growth of 37%[22] - The company plans to continue expanding its property management and renovation services to enhance revenue streams[22] - The company plans to actively pursue mergers and acquisitions to enhance its urban service capabilities and acquire quality state-owned resources[77] Land and Projects - The land bank held by the company was approximately 4,989,013 square meters as of December 31, 2021[4] - The company acquired seven projects in key cities, increasing land reserves by approximately 1,205,020 square meters, with a total investment of about RMB 5,294 million[55] - The Jiangsu region accounted for 32.3% of the total land area, with Suzhou alone contributing 16.0%[69] Corporate Governance - The company is committed to maintaining high standards of corporate governance and has adopted the corporate governance code as per the listing rules[121] - The board of directors did not recommend the distribution of a final dividend for the year ended December 31, 2021[4] - The company has no significant off-balance sheet liabilities or arrangements as of December 31, 2021[108] Employee Information - The company employed 3,160 full-time employees as of December 31, 2021, an increase from 3,017 employees in 2020[79] - Employee costs for the year ended December 31, 2021, amounted to RMB 495.1 million, up from RMB 486.3 million in 2020, with share-based compensation expenses recognized at RMB 0.6 million[80]
景瑞控股(01862) - 2021 - 中期财报
2021-09-29 08:35
Financial Performance - Revenue for the six months ended June 30, 2021, was RMB 5,099.5 million, representing a 61.7% increase from RMB 3,154.4 million in 2020[13]. - Gross profit for the same period was RMB 1,227.3 million, with a gross profit margin of 24.1%, down from 31.4% in 2020[13][17]. - Profit attributable to equity holders was RMB 295.3 million, a slight increase of 0.6% from RMB 293.6 million in 2020[13]. - Core net profit attributable to equity holders was RMB 293.8 million, down 3.6% from RMB 304.9 million in the previous year[13]. - Revenue from property sales for the first half of 2021 was RMB 4,636.1 million, representing a 65.1% increase compared to the same period last year[99]. - Property management revenue increased by approximately 55.9% to RMB 350.5 million, up from RMB 224.8 million in the previous year, driven by a significant increase in contracted GFA from third parties[135]. - Rental income decreased by approximately 6.7% to RMB 107.6 million, down from RMB 115.3 million in the previous year, primarily due to reduced rental periods caused by property upgrades[136]. - The company's cost of sales for the first half of 2021 was RMB 3,872.2 million, representing an increase of 78.9% compared to RMB 2,164.6 million in the same period last year[142][143]. - The profit for the period was RMB 365.8 million, compared to RMB 344.9 million in the same period last year, with profit attributable to equity holders at RMB 295.3 million, slightly up from RMB 293.6 million[166]. Sales and Contracted Projects - Contracted sales value reached RMB 18,734.5 million, a significant increase of 144.3% compared to RMB 7,670.2 million in 2020[15]. - Contracted sales area increased to 969,335 sq.m., up 203.7% from 319,208 sq.m. in the previous year[15]. - Average contracted selling price decreased by 19.6% to RMB 19,327 per sq.m. from RMB 24,029 per sq.m. in 2020[15]. - For the first half of 2021, Jingrui achieved total contracted sales of approximately RMB 18.735 billion, representing an increase of 144.3% compared to RMB 7.670 billion in the same period last year[33]. - The contracted sales area for the same period was approximately 969,335 sq.m., with an average contracted sales price of RMB 19,327 per sq.m.[33]. - The Jiangsu region contributed RMB 7,313.5 million (39.0%) and the direct-controlled municipalities contributed RMB 5,619.7 million (30.0%) to the total contracted sales[79]. Debt and Financial Position - The net debt-to-capital ratio increased to 74% as of June 30, 2021, compared to 69% at the end of 2020[17]. - Total outstanding borrowings increased to RMB 23,235.1 million as of June 30, 2021, up from RMB 21,444.8 million at the end of 2020[174]. - Current borrowings decreased by 7.1% to RMB 8,495.2 million from RMB 9,139.9 million, while non-current borrowings increased by 19.8% to RMB 14,740.0 million[181]. - The proportion of long-term borrowings in total borrowings was 63.4% as of June 30, 2021, ensuring stable cash flow for the company[184]. - Finance costs for the six months ended June 30, 2021, totaled RMB 1,207.5 million, an increase of 18.0% compared to RMB 1,023.7 million in the same period of 2020[186]. - The net debt-to-adjusted capital ratio was 74% as of June 30, 2021, indicating a significant leverage position[187]. Market and Industry Trends - The Chinese GDP for the first half of 2021 was RMB 53.2 trillion, reflecting a year-on-year increase of 12.7%[22]. - The real estate industry is expected to enter a refined development stage, moving away from land hoarding through increased borrowings[23]. - The anticipated urbanization rate in China is expected to exceed 70% by 2035, indicating significant development opportunities in core city clusters[65]. - The long-term rental apartment industry is becoming more rational and standardized, moving away from blind expansion models[78]. Operational Strategies - Jingrui plans to enhance production capacity and lean operation capacity to ensure profitability and improve asset value[32]. - The company is focusing on the development of the housing rental market in first-tier cities, moving away from the landlord agent model towards a more rational and normative long-term rental apartment business[32]. - Jingrui is accelerating the exploration and upgrading of its business model to take a leading position in industry reforms[28]. - The company aims to strengthen external expansion of property services, aligning with industry changes and enhancing service effectiveness through technology and training[78]. Project Management and Development - Jingrui acquired a total of 4 new projects in the first half of 2021, with a total property value of RMB 4.885 billion, of which first- and second-tier cities accounted for 80.6% of the saleable property value[34]. - The company has a sufficient land bank of approximately 5.2925 million sq.m., which can meet development demands for the next 2 to 3 years[34]. - As of June 30, 2021, Jingrui Properties constructed 25 projects involving 22,000 residences under the "Spaceme" platform, achieving a signing rate of 70%[40]. - Jingrui Service managed a total of 342 projects across 50 cities in China, with a contracted gross floor area (GFA) of approximately 46.80 million sq.m.[110].