C&D INTL GROUP(01908)2025-03-26 13:19Financial Performance - The total contracted sales amount for the year ended December 31, 2024, was approximately RMB 103.36 billion, a decrease of about RMB 34.6 billion or 25.1% compared to the previous fiscal year[4]. - The total revenue for the year ended December 31, 2024, was approximately RMB 142.99 billion, an increase of about RMB 8.56 billion or 6.4% compared to the previous fiscal year[6]. - The profit attributable to equity holders for the year ended December 31, 2024, was approximately RMB 4.80 billion, a decrease of about RMB 231 million or 4.6% compared to the previous fiscal year[4]. - The basic earnings per share for the year ended December 31, 2024, was RMB 2.38[4]. - The gross profit for the year ended December 31, 2024, was approximately RMB 18.97 billion, compared to RMB 14.92 billion in the previous fiscal year[6]. - The total comprehensive income for the year ended December 31, 2024, was approximately RMB 6.35 billion[7]. - The company's total revenue for the year was reported at 36.02 billion, compared to 35.10 billion in the previous year, reflecting a growth of approximately 2.6%[10]. - The company's total revenue for the year was approximately RMB 142,986.28 million, representing an increase of about RMB 8,556.31 million (approximately 6.4%) compared to the previous fiscal year[54]. - Gross profit for the year was approximately RMB 18,972.44 million, an increase of about RMB 4,055.98 million (approximately 27.2%) year-over-year[54]. - The profit attributable to equity holders decreased by approximately RMB 230.87 million (approximately 4.6%) to about RMB 4,803.84 million compared to the previous fiscal year[54]. Cash Flow and Assets - The cash collection from property development for the year ended December 31, 2024, totaled approximately RMB 135.74 billion[4]. - Total assets decreased from 427.28 billion to 412.48 billion, a decline of approximately 3.5%[9]. - Total liabilities decreased from 336.34 billion to 309.98 billion, a decline of approximately 7.8%[11]. - Net asset value increased from 90.94 billion to 102.50 billion, an increase of approximately 12.5%[11]. - Cash and cash equivalents increased from 54.16 billion to 57.26 billion, an increase of approximately 5.0%[9]. - The company's total inventory and other assets amounted to RMB 270.92 billion in 2024, up from RMB 247.03 billion in 2023, marking an increase of about 10%[44]. - As of December 31, 2024, the group's cash and bank balances were approximately RMB 57,259.15 million, an increase from approximately RMB 54,161.32 million as of December 31, 2023[76]. Liabilities and Equity - The company's equity attributable to shareholders increased from 21.46 billion to 25.56 billion, an increase of approximately 19.5%[11]. - The company's total liabilities to total assets ratio improved from 78.7% to 75.1%[11]. - The debt to equity ratio decreased to 87.6% from 93.2% due to an increase in non-controlling interests[78]. - Total borrowings amounted to approximately RMB 33,746.90 million, with about 94.1% of borrowings subject to floating rates[77]. - Financial guarantees for property buyers decreased to approximately RMB 43,317.95 million from approximately RMB 77,444.07 million, primarily due to a reduction in new property projects launched[79]. Dividends - The company proposed a final dividend of HKD 1.2 per share, payable in cash or in new shares[3]. - Proposed final dividend for the year ending December 31, 2024 is HKD 1.2 per share, totaling approximately HKD 2,420,613,000 (around RMB 2,241,585,000)[38]. - Final dividend for the previous fiscal year was HKD 1.3 per share, totaling RMB 2,248,509,000, an increase from RMB 2,080,819,000 in the prior year[39]. - The total cash dividend paid in 2024 was RMB 652,259,000, an increase from RMB 381,279,000 in 2023[39]. - The total dividend paid in shares for 2024 was RMB 1,596,250,000, compared to RMB 1,699,540,000 in 2023[39]. - The company plans to seek shareholder approval for the proposed final dividend at the upcoming annual general meeting[38]. Market and Sales Performance - The company reported a decrease in the cumulative contracted sales area of approximately 1.616 million square meters or 24.3% compared to the previous fiscal year[4]. - The cumulative contracted sales amount attributable to shareholders was approximately RMB 103.36 billion, a decrease of about 25.1% compared to the previous fiscal year[58]. - The cumulative contracted sales area attributable to shareholders was approximately 5.048 million square meters, a decrease of about 24.3% compared to the previous fiscal year[58]. - The majority of the group's revenue and performance is derived from the Chinese market, with assets primarily located within China[28]. - The total delivered property construction area was approximately 6.99 million square meters, a decrease of about 1.53 million square meters from the previous fiscal year[55]. - The company aims to expand its market presence by increasing its land reserves and project developments across various cities in China[61]. Operational Efficiency and Costs - The sales cost rose from approximately RMB 119,513.52 million to RMB 124,013.84 million, an increase of about RMB 4,500.32 million[66]. - Total borrowing costs decreased from approximately RMB 3,386.35 million to RMB 2,997.80 million, attributed to a slight decline in average financing rates[68]. - Administrative expenses increased from approximately RMB 2,851.39 million to approximately RMB 4,979.93 million, an increase of approximately RMB 2,128.54 million[70]. - Sales expenses decreased from approximately RMB 4,308.01 million to approximately RMB 3,721.69 million, a reduction of approximately RMB 586.32 million[71]. Future Plans and Strategies - The company plans to expand its market presence and invest in new technologies to drive future growth[12]. - The company plans to focus on innovation in product technology to enhance core competitiveness in 2025[91]. - The company aims to increase R&D investment to lead product upgrades and maintain market competitiveness[92]. - The company intends to accelerate the construction of a centralized procurement platform to reduce costs and enhance operational efficiency[94]. - The company aims to actively respond to market dynamics and prioritize development as its primary task by 2025[95]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance throughout the year, ensuring shareholder rights and enhancing transparency[105]. - The audit committee has reviewed the company's consolidated financial statements for the year[107]. - The financial statements comply with the disclosure requirements of the Hong Kong Companies Ordinance and the Listing Rules[15].