Financial Performance - The group's consolidated revenue for 2023 was approximately RMB 766.7 million, a significant increase from RMB 276.1 million in 2022, representing a growth of 177.5%[4] - Gross profit for the year was approximately RMB 188.7 million, compared to RMB 98.6 million in 2022, marking an increase of 91.5%[4] - The group recorded a loss attributable to shareholders of approximately RMB 33.8 million in 2023, an improvement from a loss of RMB 39.1 million in 2022, indicating a reduction in losses by 8.5%[4] - The company reported a net loss of RMB 33,776 thousand for 2023, an improvement from a net loss of RMB 39,148 thousand in 2022, reflecting a reduction in losses by approximately 13.5%[14] - The group recorded a net loss of RMB 33,776,000 for the year, compared to a loss of RMB 39,148,000 in the previous year, indicating an improvement in financial performance[28][29] - The annual loss attributable to owners narrowed to RMB 33.8 million from RMB 39.1 million in 2022, driven by increased revenue and gross profit[73] Project Performance - The flagship project "New Tian Ban Shan" achieved pre-sales of approximately RMB 310 million with a saleable area of about 4,000 square meters, up from RMB 140 million and 2,000 square meters in 2022, reflecting a growth of 121.4% in sales value[7] - The "Yangzhou Smart Living City" project recorded sales of approximately RMB 47.6 million and a saleable area of 3,000 square meters in 2023, compared to RMB 14.8 million and 1,900 square meters in 2022, representing a sales increase of 220.3%[8] - The "Xuzhou Lin'an Smart Industrial Park" project has accumulated pre-sale area of approximately 67,000 square meters, with 23,000 square meters still pending delivery as of the end of 2023[10] - The company recognized revenue of RMB 449.3 million from the delivery of pre-sold units in the Xuzhou Smart Industrial Town project, with a total construction area of approximately 44,000 square meters[64] Revenue Breakdown - Revenue for the year ended December 31, 2023, was RMB 766,732 thousand, a significant increase from RMB 276,113 thousand in 2022, representing a growth of approximately 177.5%[14] - The property development segment generated revenue of RMB 743,852,000, accounting for 97% of total revenue, while the property investment and management segments contributed RMB 12,191,000 and RMB 10,689,000 respectively[28] - Property sales revenue reached RMB 743,852,000 in 2023, compared to RMB 253,557,000 in 2022, indicating a growth of about 193%[35] Asset and Liability Management - Total assets decreased to RMB 2,395,552 thousand in 2023 from RMB 3,118,981 thousand in 2022, a decline of about 23.2%[18] - Current liabilities decreased to RMB 1,263,422 thousand in 2023 from RMB 1,851,182 thousand in 2022, a reduction of approximately 31.7%[18] - Non-current liabilities decreased significantly from RMB 509,295 thousand in 2022 to RMB 249,627 thousand in 2023, a reduction of approximately 51.0%[19] - The equity attributable to the owners of the company decreased slightly to RMB 1,635,461 thousand in 2023 from RMB 1,669,936 thousand in 2022, a decline of about 2.1%[19] - Total liabilities of the group were RMB 1,513,049,000, with reported segment liabilities of RMB 913,290,000[28] Cost Management - The company reported a significant increase in distribution costs from RMB 9.6 million to RMB 13.2 million, primarily due to increased commission expenses[67] - The company’s administrative and other operating expenses decreased significantly from RMB 60.2 million to RMB 40.1 million due to careful cost control[67] - The group plans to continue focusing on inventory reduction and cost control to navigate the downturn in the real estate market in 2024[74] Market Outlook - The company anticipates a potential improvement in the real estate market atmosphere in 2024 due to favorable national and local policies[7] - The group plans to continue promoting the delivery of units in the Xuzhou project and explore future development directions for undeveloped land in Yangzhou in 2024[10] Compliance and Governance - The group has not adopted any new accounting standards that are not yet effective, indicating a stable compliance approach[23][25] - The independent non-executive directors confirmed their independence in accordance with the listing rules[86] Other Financial Metrics - The company incurred financing costs of RMB 22,326,000 in 2023, a decrease from RMB 34,626,000 in 2022[37] - The total income tax expense for 2023 was RMB 40,557,000, an increase of 7.3% from RMB 37,784,000 in 2022[8] - The company recorded impairment losses on completed properties held for sale amounting to RMB 73,835,000 in 2023, with no such losses reported in 2022[40]
新天地产集团(00760) - 2023 - 年度业绩