Financial Performance - The company reported a consolidated profit of 150 million for the next fiscal year, indicating a projected growth of 10%[111]. - For the year ended December 31, 2024, the Group's total revenue was approximately RMB1.73 billion, a decrease of 80.8% from approximately RMB9.04 billion in 2023[95]. - The gross profit for the Group was approximately RMB312 million, with a gross profit margin of approximately 18.1%, compared to RMB1.11 billion and 12.3% in 2023[95]. - The Group recognized revenue from property sales of approximately RMB1.34 billion, down 84.5% from approximately RMB8.62 billion in 2023, with an average selling price in China of approximately RMB13,527 per sq.m. compared to RMB20,366 per sq.m. in 2023[96]. - The Group incurred a net loss of approximately RMB1.51 billion for the year, compared to a net loss of approximately RMB863 million in 2023, mainly due to the disposal of equity interests in Landsea Homes[112]. Market Expansion and Strategy - User data showed a growth of 20% in active users, reaching a total of 1.2 million by the end of 2024[111]. - The company is expanding its market presence in Southeast Asia, targeting a 25% market share by 2026[111]. - New product launches included two innovative green building solutions, expected to contribute an additional $30 million in revenue[111]. - The company aims to reduce carbon emissions by 30% by 2025 as part of its sustainability strategy[111]. - The company actively expanded various projects focusing on Project Management Services to achieve revenue diversification[79]. Corporate Governance and Management Changes - The board of directors underwent significant changes, with three new appointments effective from December 2024[111]. - Mr. Xie Cilong was appointed as an independent non-executive Director on June 21, 2024, bringing extensive experience in fund management and business investment[58]. - Ms. Li Rong was appointed as an independent non-executive Director on February 28, 2025, with a background in management and finance from Fudan University and China Construction Bank[59]. - The company meets the requirements under Rules 3.28 and 8.17 of the Listing Rules, ensuring compliance in corporate governance[70]. Sales and Project Performance - The contracted sales of China Real Estate for 2024 amounted to approximately RMB 5.83 billion, a decrease of 44.5% compared to RMB 10.52 billion in 2023[81]. - The total saleable area of newly acquired projects in Wuxi and Lishui was 397,000 sq.m., with a saleable value of approximately RMB 10.62 billion[80]. - The average selling price for contracted sales was RMB 24,620 per sq.m., with a total contracted sales area of 30,293 sq.m.[84]. - Landsea achieved over 80% sales in just 1.5 hours for the Landsea Poetry Clouds project, making it the top new project in Wuxi for transaction amount in the first half of 2024[43]. - The first phase of Dongyang Landsea • Hupan Yundi project achieved over 80% sales in its initial launch, winning the triple crown of sales amount, sales area, and number of units sold in September 2024[44]. Debt and Financial Obligations - As of December 31, 2024, the Group's cash and cash equivalents amounted to approximately RMB616 million, down from approximately RMB1.09 billion in 2023[113]. - The Group's total indebtedness decreased to approximately RMB2.81 billion from approximately RMB7.21 billion as of December 31, 2023, primarily due to the deconsolidation of Landsea Homes[118][122]. - The proportion of short-term debts increased to approximately 47.4% as of December 31, 2024, from approximately 27.3% as of December 31, 2023[118][122]. - The Group recorded book exchange gains of approximately RMB42 million as of December 31, 2024, compared to exchange losses of approximately RMB49 million in 2023[126][129]. - The Group has overdue secured borrowings totaling approximately RMB 511 million, including loans from other financial institutions of about RMB 451 million and bank borrowings of approximately RMB 60 million[168]. Awards and Recognition - Landsea was recognized as one of the "Top 30 Real Estate Enterprises in China" in multiple categories, including comprehensive capability and brand communication power in 2024[36]. - The Rungao Landsea • Shangxianli project won the Gold Award at the 2024 American TITAN Real Estate Awards for interior design[34]. - Landsea Poetry Clouds project received the Gold Award of the 2024 Muse Design Award for its resort-style yacht club space[36]. Future Outlook and Plans - The project management services segment is expected to contribute an additional contract value of around RMB 600 million and equity project cash inflows of RMB 300 million for the year ending December 31, 2025[175]. - The management believes the Group will have sufficient financial resources to continue as a going concern for the next 12 months[172]. - The Board believes that the plans formulated by management will generate sufficient funds to support operations and fulfill financial obligations for the year ending December 31, 2025[183][185].
朗诗绿色管理(00106) - 2024 - 年度财报