Financial Performance - Revenue for 2022 was RMB 26,614 million, a decrease of RMB 7,313 million (approximately 21.5%) from RMB 33,927 million in 2021[8]. - Gross profit for 2022 was RMB 4,099 million, down by RMB 4,371 million (approximately 51.7%) compared to RMB 8,470 million in 2021[8]. - Profit for the year attributable to owners of the Company was RMB 481 million, a decline of RMB 1,674 million (approximately 77.8%) from RMB 2,155 million in 2021[8]. - Earnings per ordinary share decreased to RMB 0.17, down by RMB 0.61 (approximately 78.2%) from RMB 0.78 in 2021[8]. - Total equity for 2022 was RMB 23,213 million, a slight decrease of RMB 391 million (approximately 1.7%) from RMB 23,604 million in 2021[11]. - Total assets decreased to RMB 149,651 million, down by RMB 19,095 million (approximately 11.3%) from RMB 168,746 million in 2021[11]. - Total liabilities decreased to RMB 126,438 million, a reduction of RMB 18,704 million (approximately 12.9%) from RMB 145,142 million in 2021[11]. - The Group's net profit attributable to shareholders was approximately RMB 481 million, with a basic earnings per share of approximately RMB 0.17[155]. - The total revenue from property sales was approximately RMB 25,677 million, representing a decrease of approximately 22% compared to the previous year[158]. - The Group's gross profit decreased from approximately RMB 8,470 million in 2021 to approximately RMB 4,099 million in 2022, with the gross profit margin dropping from approximately 25% to 15%[183]. Market Conditions - The real estate industry in China faced significant challenges in 2022, including plummeting market sales and debt defaults among enterprises, impacting overall market performance[21][23]. - China's GDP for 2022 was RMB 121 trillion, reflecting a growth rate of 3.0% despite challenges from the COVID-19 pandemic and geopolitical conflicts[20][23]. - The macroeconomic environment in China remained stable, with a gradual rise in market confidence as the effects of policies to "stabilize growth" were realized[147]. - The real estate market in China showed signs of stabilization by the end of 2022, with financing activities gradually returning to normal[148]. - Local governments implemented city-specific policies to support rigid demand for residential housing, adhering to the principle of "no speculation on residential properties"[148]. Strategic Initiatives - The Group adopted a prudent investment strategy to ensure long-term stable development while consolidating and restructuring its regional companies in Eastern and Southern China[34]. - The Group plans to focus on first-tier cities and adopt a prudent investment strategy for long-term stable development[172]. - The Group's strategic adjustments included prudent investment in projects to navigate the challenges posed by the COVID-19 pandemic and market adjustments[152]. - The Group focused on destocking, innovative sales and marketing, and strengthening risk control to secure its development amidst market challenges[152]. - The Group implemented a "transparent house" standardization system to enhance customer trust and improve sales performance in a challenging market environment[164]. Project Development - The Company developed 114 projects across 37 cities in 9 provinces, focusing on the Yangtze River Delta and Pan-Pearl River Delta regions[3]. - The Group maintained a land bank of approximately 21 million sq.m. as of December 31, 2022, strategically concentrated in key cities in China, sufficient to support development for the next two to three years[34]. - The Group's development portfolio includes 11 product categories, emphasizing high-quality intelligent communities and sustainable development in project development[37]. - Greenland's projects include mixed-use developments that integrate residential, commercial, and hotel facilities, catering to diverse market needs[63]. - The Group emphasizes the integration of sustainable development concepts throughout the entire project development cycle[37]. Awards and Recognition - The Company won 22 industry awards in 2022, including 17 international awards and 5 domestic awards, reflecting its commitment to enhancing lifestyle amenities[16]. - The Group's corporate image was enhanced through recognition as the "Most Valuable Real Estate and Property Company" at the "7th Zhitong Finance Listed Company Selection"[153]. Sales Performance - In 2022, Greenland HK's contracted sales amounted to approximately RMB 15,726 million, with a total contracted GFA sold of approximately 1,567,717 sq.m., aligning with expectations[30][32]. - The total contracted sales of the Group amounted to approximately RMB 15,726 million, with a total contracted gross floor area (GFA) sold of approximately 1,567,717 square meters[154]. - The average selling price was approximately RMB 10,665 per square meter, reflecting a decrease in market performance[158]. - The total GFA of sold and delivered projects was approximately 2,327,180 square meters, which is a decrease of approximately 13% from the previous year[157]. Cost Management - Operating expenses decreased significantly, with administrative expenses down approximately 35% to RMB 621 million and selling and marketing costs down approximately 19% to RMB 856 million[188]. - Income tax expenses decreased by approximately 61% from RMB 3,855 million in 2021 to approximately RMB 1,489 million in 2022, mainly due to reduced revenue[191]. - Financing costs decreased from approximately RMB 255 million in 2021 to approximately RMB 132 million in 2022[194]. - Fair value loss of investment properties amounted to approximately RMB 273 million in 2022[195].
绿地香港(00337) - 2022 - 年度财报