Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 1,793,763, a decrease from RMB 2,200,196 in 2021, representing a decline of approximately 18.4%[23] - The Group reported a loss before taxation of RMB 679,441 for the year, compared to a loss of RMB 370,195 in the previous year, indicating a significant increase in losses[23] - The Group's gross loss for the year was RMB 299,996, contrasting with a gross profit of RMB 245,041 in 2021[23] - The Group reported a net loss of approximately RMB733 million for the year ended 31 December 2022[30] - The total deficit attributable to owners of the Company amounted to approximately RMB673 million as of 31 December 2022[30] - Total comprehensive expense for the year was RMB732,838 thousand, compared to RMB487,363 thousand in the previous year[24] - Basic and diluted loss per share was RMB5.84, compared to RMB5.10 in the previous year[24] - Loss attributable to owners for the year was approximately RMB 663,554,000, compared to a loss of RMB 579,754,000 in 2021[36] Revenue Breakdown - Segment revenue from property development was RMB 1,793,263, while property investment generated revenue of RMB 500, leading to a total segment revenue of RMB 1,793,763[7] - The Group's revenue from sales of completed properties in 2022 was RMB 1,793,263, a decrease of 18.4% compared to RMB 2,198,956 in 2021[64] - The Group's property sales revenue was approximately RMB1,793,263,000, down from RMB2,198,956,000 in the previous year[187] Assets and Liabilities - The Group's total liabilities as of December 31, 2022, amounted to RMB 8,220,813[16] - Current liabilities exceeded current assets by approximately RMB301 million as of December 31, 2022[30] - Total borrowings amounted to approximately RMB2,704 million, including current borrowings of approximately RMB2,695 million[30] - The Group's non-current assets totaled RMB832,146 thousand as of 31 December 2022, down from RMB880,304 thousand in 2021[25] - As of December 31, 2022, the Group's liabilities due within one year amounted to RMB 1,583,944, while liabilities due beyond one year were RMB 138,457[68] - The total outstanding principal and interest payables of the Defaulted Borrowings amounted to approximately RMB3,838 million, which would be immediately repayable if requested by lenders[47] Impairment and Valuation - The impairment losses, net of reversal, totaled RMB 283,578, reflecting challenges in asset valuation[7] - The Group recognized impairment losses of RMB 242,282 during the year ended December 31, 2022[115] - The impairment loss on properties under development/properties for sale included in cost of sales was RMB184,957,000, a decrease from RMB229,421,000 in the previous year[154] Cash Flow and Liquidity - The Group had total unrestricted cash and cash equivalents of approximately RMB183 million as of December 31, 2022[30] - The Group's management is considering various plans to alleviate liquidity pressure and improve cash flow, including negotiations with lenders and cost control measures[74] - The Group's ability to continue as a going concern is under significant doubt due to material uncertainties[52] - The Group's ongoing financial obligations and future operating expenditures are contingent upon successful negotiations and restructuring efforts[78] Restructuring and Future Outlook - The Company is involved in restructuring transactions, including a capital reorganization and a scheme to discharge claims amounting to HK$2.78 billion (approximately RMB 2.48 billion) as of November 30, 2022[33] - Management is negotiating with lenders to avoid immediate repayment demands on the Defaulted Borrowings[52] - The Group is actively seeking potential investors for co-development or acquisition of its property development projects and investment properties[55] - The Group is pursuing a restructuring transaction to facilitate progress with creditors[54] Dividends and Shareholder Information - The Company does not recommend the payment of any final dividend for the year[36] - No dividends were paid or proposed for shareholders during the years ended December 31, 2022, and 2021[157] - The weighted average number of ordinary shares for the purpose of basic loss per share remained unchanged at 11,365,386,067 for both 2022 and 2021[130]
福晟国际(00627) - 2022 - 年度业绩