Gemdale(600383)2025-03-24 11:30Financial Performance - The net profit attributable to shareholders for 2024 was -6,115,084,228.32 RMB, a decrease of 788.54% compared to the previous year's profit of 888,123,647.45 RMB[5]. - Operating revenue for 2024 was 75,343,746,673.02 RMB, down 23.22% from 98,125,335,583.60 RMB in 2023[21]. - The weighted average return on equity for 2024 was -9.86%, a decline of 11.22 percentage points from 1.36% in 2023[21]. - The basic earnings per share for 2024 was -1.35 RMB, a decrease of 775.00% from 0.20 RMB in 2023[21]. - The company reported a significant drop in revenue from core business activities, with a total of 72,188,603,460.64 RMB, down 26.34% from 97,998,257,184.45 RMB in 2023[21]. - The company recorded non-recurring losses of CNY -1.728 billion in 2024, compared to a gain of CNY 1.987 billion in 2023[24]. - The company's investment income showed a loss of CNY 2.74 billion, a decline of 239.93% compared to a profit of CNY 1.96 billion last year[46]. - The company reported a significant increase in asset impairment losses, totaling CNY 3.90 billion, compared to CNY 2.42 billion last year[46]. - The company’s long-term equity investments are valued at ¥489,863,409.33, secured by pledged loans[60]. Cash Flow and Assets - The net cash flow from operating activities increased significantly to 13,619,761,151.52 RMB, a rise of 521.20% compared to 2,192,504,200.55 RMB in 2023[21]. - The total assets at the end of 2024 were 293,906,275,277.89 RMB, a decrease of 21.38% from 373,846,800,000.66 RMB at the end of 2023[21]. - The net assets attributable to shareholders decreased by 9.25% to 59,039,922,204.51 RMB compared to 65,059,674,812.89 RMB in 2023[21]. - The total area of new housing starts in China decreased by 23.0% year-on-year to 739 million square meters in 2024[30]. - The total real estate development investment in China was CNY 10.03 trillion, down 10.6% year-on-year[30]. Business Strategy and Operations - The company plans to enhance product and service quality while expanding its asset management capabilities and property management services[33]. - The company adjusted its operational and sales strategies dynamically based on market conditions to improve inventory turnover[33]. - The company has outlined a three-year shareholder return plan for 2023-2025, which will be subject to shareholder approval[5]. - The company is actively pursuing market expansion strategies, focusing on high-demand residential areas[65]. - The company is focusing on expanding its residential and mixed-use projects across various cities, enhancing its market presence[69]. Project Development and Construction - The company delivered 99,200 housing units during the year, with overall delivery quality rated as good[36]. - The company has a total of 19 ongoing projects, with a significant focus on residential developments, accounting for 96% of the total project area[65]. - The total planned construction area across all projects is approximately 2,200,000 square meters, with a total building area of about 2,800,000 square meters[65]. - The company has completed 8 projects during the reporting period, with a total completed area of approximately 1,000,000 square meters[65]. - The company has ongoing projects with varying completion rates, including Jinan Borui Jiayuan at 33% and Langfang Jindi Heshiyuan at 39%[68]. Financial Management and Governance - The company has established a comprehensive compensation management system that links performance and contribution to salary[131]. - The total remuneration for all directors, supervisors, and senior management during the reporting period amounted to RMB 27.02 million[118]. - The company has retained Deloitte Huayong as the auditing firm for the 2024 fiscal year[105]. - The company has committed to improving transparency and investor relations through various communication channels, including performance briefings and investor hotlines[102]. - The company’s board of directors has a policy that members must abstain from discussions regarding their own remuneration[117]. Environmental and Social Responsibility - The company has initiated a carbon inventory project to assess its overall carbon emissions and identify reduction potential, while actively participating in carbon trading and promoting low-carbon initiatives[148][149]. - The company has invested approximately ¥8.21 million in social responsibility initiatives, including donations and public welfare projects[162]. - The company actively participates in the "Sponge City" initiative, enhancing urban flood management capabilities through advanced flood control technologies and smart facility management[150]. - The "Healthy Community" model has been applied in 12 projects, focusing on environmental, physical, and mental health through innovative landscape design[153]. - The company has committed to green development principles, focusing on reducing energy consumption and environmental impact through sustainable practices in real estate development[147].