Financial Performance - Revenue increased significantly by approximately 94.5% to about RMB 40,770,075,000[2] - The company reported a loss attributable to the parent company of approximately RMB 7,863,349,000[2] - The total comprehensive loss for the year amounted to approximately RMB 8,407,463,000[6] - The company experienced a net loss before tax of approximately RMB 8,211,620,000[3] - The company reported a net loss attributable to shareholders of RMB 7,863,349 thousand for the year ending December 31, 2024, compared to a loss of RMB 7,991,050 thousand in the previous year, indicating a slight improvement[7] - Total comprehensive loss for the year was RMB 8,407,463 thousand, down from RMB 8,900,799 thousand in the previous year, reflecting a reduction in overall losses[7] - The group recorded a loss attributable to equity holders of approximately RMB 7.863 billion as of December 31, 2024[18] - The group reported a pre-tax loss of RMB 530,406,000 for the year 2024, compared to RMB 725,878,000 in 2023, indicating a decrease of approximately 26.9%[30] Revenue Sources - Total revenue for the group reached RMB 40,770,075 thousand, a significant increase from RMB 20,960,968 thousand[28] - Revenue from property sales amounted to RMB 38,843,471 thousand, compared to RMB 19,095,549 thousand in the previous year, reflecting a growth of approximately 103%[28] - Other income and gains totaled RMB 286,830 thousand, up from RMB 660,818 thousand, indicating a decrease in this segment[28] - The company reported a net income from rental income of RMB 30,969 thousand, compared to RMB 26,782 thousand previously, marking an increase of approximately 15%[28] - The total amount of management fee income was RMB 103,727 thousand, which is a decrease from RMB 171,555 thousand[28] Cost and Expenses - The cost of sales increased to RMB 34,534,538,000, reflecting the growth in revenue[3] - Financial expenses totaled RMB 1,893,627 thousand, an increase from RMB 1,492,343 thousand, showing a rise of about 27%[29] - The company's total financial liabilities interest amounted to RMB 2,806,275 thousand, slightly up from RMB 2,709,362 thousand[29] - The company's total capitalized interest decreased to RMB (912,648) thousand from (1,217,019) thousand, indicating a reduction in capitalized costs[29] - The total tax expense for the year was RMB 937,852,000, compared to RMB 189,504,000 in the previous year, showing a significant increase[32] Assets and Liabilities - Non-current assets increased to RMB 49,227,234 thousand in 2024 from RMB 37,923,422 thousand in 2023, showing a growth of approximately 30%[10] - Current assets rose to RMB 118,662,453 thousand in 2024, compared to RMB 90,361,804 thousand in 2023, representing an increase of about 31%[10] - The company’s total liabilities increased to RMB 118,662,453 thousand in 2024, compared to RMB 90,361,804 thousand in 2023, indicating a rise of approximately 31%[10] - The company’s total equity attributable to shareholders decreased to RMB 7,934,472 thousand in 2024 from RMB 8,401,124 thousand in 2023, reflecting a decline of about 5.5%[7] - The group has triggered multiple defaults or cross-default events on its offshore preferred notes and certain interest-bearing bank and other loans since October 2023, with defaults totaling approximately RMB 19.671 billion and accrued interest of RMB 2.302 billion[18] Market and Strategy - The company plans to explore new strategies for market expansion and product development in the upcoming fiscal year[3] - The group plans to adjust its sales strategy to accelerate property pre-sales and sales, as well as expedite the collection of sales proceeds[21] - The group aims to sell certain investment properties and non-core businesses to generate additional cash inflow[21] - The group anticipates that the Chinese real estate market will enter a prolonged bottoming phase by 2025, with expectations for more favorable policies from the government to boost market confidence[48] - The real estate market in China continues to adjust, with government policies aimed at stabilizing the market by relaxing purchase restrictions and lowering down payment ratios[42] Shareholder Information - The group did not declare any final dividend for the year ending December 31, 2024, consistent with the previous year[33] - The basic loss per share for the year was calculated based on 4,222,986,126 shares, unchanged from the previous year[34] - The company has not engaged in any purchase, redemption, or sale of its listed securities during the year, and does not hold any treasury shares[73] Governance and Compliance - The Audit Committee was established on January 6, 2010, consisting of three independent non-executive directors, ensuring compliance with listing rules[70] - The company has adhered to the Corporate Governance Code, with the roles of Chairman and CEO being held by the same individual, which the board believes enhances operational efficiency[74] - The consolidated financial statements for the year ending December 31, 2024, have been reviewed and are consistent with the draft financial statements[71]
中骏集团控股(01966) - 2024 - 年度业绩