碧桂园(02007) - 2024 - 年度业绩

Financial Performance - For the year ending December 31, 2024, the company achieved a total revenue of approximately RMB 252.8 billion, a year-on-year decrease of about 37.0%[3] - The company reported a net loss of approximately RMB 35.1 billion, with losses attributable to shareholders amounting to approximately RMB 32.8 billion[3] - The company recorded contract sales amounting to approximately RMB 47.2 billion, corresponding to a contract sales area of about 4.92 million square meters[7] - The company reported a revenue of RMB 252,756 million for the year ended December 31, 2024, a decrease of 37% compared to RMB 401,015 million in 2023[17] - The gross loss for the year was RMB 1,687 million, compared to a gross loss of RMB 93,609 million in the previous year, indicating an improvement[17] - The company incurred a net loss of RMB 35,145 million for the year, a significant reduction from the net loss of RMB 200,962 million in 2023[18] - Revenue for the year 2024 was RMB 252,756 million, a decrease of 37% from RMB 401,015 million in 2023[27] - Property sales contributed RMB 245,719 million to revenue, down from RMB 391,251 million in the previous year[27] - Revenue from contracts with customers for real estate development was RMB 245,719 million, a decrease of 37.2% from RMB 391,251 million in 2023[30] - Total segment revenue for 2024 was RMB 263,761 million, down from RMB 443,751 million in 2023, representing a decline of 40.5%[30] Operational Highlights - The company completed the delivery of over 380,000 housing units, covering a total area of approximately 46.08 million square meters across 242 cities in 31 provinces[6] - The company is enhancing its operational efficiency by optimizing its organizational structure, leading to a 27.4% year-on-year decrease in administrative expenses[7] - The company is developing a smart construction system incorporating building robots and new assembly methods to improve cost control and meet higher quality living demands[8] - The group plans to actively adjust sales activities to respond to market changes and aims to achieve budgeted sales and collections[21] - The group will continue to monitor the construction progress of real estate development projects closely and maintain communication with contractors[21] Debt and Restructuring - The company aims to reduce its debt by up to USD 11.6 billion and extend the maturity period to a maximum of 11.5 years as part of its debt restructuring proposal[10] - The company has been actively communicating with creditors regarding a debt restructuring plan, opposing the liquidation petition filed against it[12] - The company’s shares were suspended from trading on April 2, 2024, due to ongoing debt restructuring efforts and were restored on January 21, 2025[14] - Total current liabilities reached RMB 226,795 million, while total debt amounted to RMB 253,488 million, with RMB 188,193 million in default or cross-default[19] - The group has a significant liquidity concern, with a cash and cash equivalents balance of RMB 6,362 million against current liabilities[19] - The company has adopted incentive schemes for senior management and employees based on the profitability of real estate development projects, with cash rewards linked to net profits and return on equity[86] Financial Position - Total assets decreased to RMB 1,008,638 million in 2024 from RMB 1,156,187 million in 2023, reflecting a decline of approximately 12.8%[15][16] - Current liabilities were reduced to RMB 942,750 million in 2024 from RMB 1,126,245 million in 2023, a decrease of about 16.3%[16] - The company’s total equity decreased to RMB 51,254 million in 2024 from RMB 88,609 million in 2023, reflecting a decline of approximately 42.2%[16] - The company’s cash and cash equivalents decreased to RMB 6,362 million in 2024 from RMB 7,130 million in 2023, a decline of approximately 10.8%[15] - The total cash balance as of December 31, 2024, was approximately RMB 29,897 million, a decrease from RMB 63,816 million in 2023[56] Governance and Compliance - The independent auditor, Zhonghui Anda CPA, was unable to express an opinion on the consolidated financial statements due to insufficient audit evidence[76] - The audit committee has reviewed the annual performance and is responsible for independent oversight of the financial reporting process and risk management[80][81] - The company complied with the corporate governance code, except for one provision due to the dynamic nature of the ongoing overseas debt restructuring[83] - No violations of the standard code for securities trading by directors were reported during the year ending December 31, 2024[85] Shareholder Information - The board did not recommend or declare any dividends for the years ended December 31, 2024, and 2023[44] - The total number of shares granted under the share incentive plan as of December 31, 2024, is 165,434,000 shares, net of exercised and lapsed options[87] - The total number of share options available for grant under the 2017 share option plan is 2,048,830,798 shares as of January 1, 2024, and remains the same as of December 31, 2024[88] - The board does not recommend a final dividend for the year ending December 31, 2024, consistent with no dividend declared for 2023[93]