NJGK(600064)2024-04-26 10:44Financial Performance - The total operating revenue for 2023 was CNY 4,726,511,629.41, representing a year-on-year increase of 5.45% compared to CNY 4,482,207,249.23 in 2022[2] - The net profit attributable to shareholders for 2023 was CNY 1,560,145,875.01, with a distributable profit of CNY 10,849,150,510.84 after accounting for retained earnings and dividends[4] - Basic earnings per share decreased by 35.01% to CNY 0.902 in 2023 from CNY 1.388 in 2022[34] - Net profit attributable to shareholders decreased by 35.06% to CNY 1,560,145,875.01 in 2023 from CNY 2,402,373,814.02 in 2022[54] - Operating revenue increased by 5.45% to CNY 4,726,511,629.41 in 2023 from CNY 4,482,207,249.23 in 2022[54] - The gross profit margin for the company decreased by 6.26 percentage points to 12.33% in Nanjing, despite a revenue increase of 5.45%[3] - The company reported a significant decrease in net profit due to real estate market downturn and reduced investment gains[56] Revenue Segmentation - Real estate development and sales accounted for CNY 3,503,432,108.83, which is 74.12% of total operating revenue, showing a decline of 3.93% from the previous year[2] - The municipal infrastructure construction segment saw a significant increase in revenue, reaching CNY 803,995,566.82, which is a 54.51% increase year-on-year[2] - The park management and services segment generated CNY 337,563,498.76, with a year-on-year growth of 7.17%[2] - The land development and transfer segment reported revenue of CNY 81,520,455.00, marking its first contribution to the revenue stream[2] - The municipal business reported an operating income of 1,223.08 million yuan, representing a year-on-year increase of 46.42%[63] Cash Flow and Financing - The net cash flow from operating activities was negative at CNY -2,177,480,214.41 in 2023, compared to CNY -1,868,718,103.84 in 2022[54] - The company issued 11 short-term financing bonds and 2 medium-term notes at lower interest rates, optimizing its financing structure[107] - The company repaid debts amounting to ¥9,890,000,000, an increase from ¥6,450,000,000 in the previous period[167] - Cash flow from financing activities totaled ¥10,636,459,400, up from ¥7,347,403,104.93[167] - The net cash flow from financing activities was ¥223,540,599.94, a decrease from ¥932,596,895.07[167] Asset Management - The total assets decreased by 0.32% to CNY 37,283,181,671.10 at the end of 2023 from CNY 37,403,687,923.92 at the end of 2022[54] - The company's asset-liability ratio remained low at 50.24%, with total interest-bearing liabilities of 9.849 billion yuan, accounting for 26.42% of total assets[65] - The average financing cost decreased to 2.99%, down 0.22 percentage points compared to the same period last year[65] Strategic Focus - The company is focusing on cautious development in real estate, active development in municipal business, and steady growth in equity investment as part of its three-year plan[60] - The company plans to continue expanding its municipal infrastructure projects, which have shown strong growth potential[2] - The company aims to enhance internal management and stimulate growth through its "risk prevention and control" strategy[61] Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 48,450, an increase from 46,424 at the end of the previous month[158] - The largest shareholder, Nanjing New Port Development Co., Ltd., holds 601,083,220 shares, representing 34.74% of the total shares[158] - The second largest shareholder, Central Huijin Asset Management Co., Ltd., holds 46,180,883 shares, accounting for 2.67%[158] Market Conditions - The overall real estate market saw a decline in sales area by 8.5% and sales amount by 6.5% year-on-year, indicating a challenging market environment[68] - The company’s investment projects generated an investment income of 1,964.68 million yuan, a decrease of 18.32% year-on-year[84] Innovation and Development - The company launched 22 new patents and was recognized as a "National High-tech Enterprise," strengthening its innovation capabilities[63] - The company has established multi-faceted cooperation with local innovation platforms, research institutions, banks, and professional investment institutions to secure new investment opportunities[92]