Financial Performance - The group's consolidated revenue for 2022 was approximately RMB 10.5684 billion, a decrease of 35.6% compared to RMB 16.4164 billion in 2021[15]. - The net profit attributable to equity holders for 2022 was approximately RMB 48 million, down 97.5% from RMB 1.8827 billion in 2021[15]. - The group's gross profit margin decreased from 30.2% in 2021 to 21.7% in 2022[18]. - The group's cash net position at the end of 2022 was RMB 329 million[17]. Property Development and Sales - The average cost of properties included in sales for 2022 was RMB 4,717.2 per square meter, an 8.1% decrease from RMB 5,132.8 per square meter in 2021[6]. - The average selling price of delivered properties in 2022 was RMB 5,948.2 per square meter, a 19.1% decrease from RMB 7,354.3 per square meter in 2021[35]. - The total presold but undelivered properties amounted to 1,352,877 square meters as of December 31, 2022, compared to 1,907,233 square meters in 2021[39]. - The company reported a total of 3,215,647 square meters of salesable area for the fiscal year 2022[121]. Project Completion and Construction Progress - The company reported a total of 100% completion for multiple projects, including the Guangzhou Mingfa Peninsula and the Xiamen Mingfa Resort, with areas of 104,380 square meters and 58,952 square meters respectively[58]. - The completion rate for the projects in 2023 is approximately 80%, with significant projects like Quanzhou Mingfa Garden and Shandong Haibo World Trade Center nearing completion[146]. - The company has achieved a 100% completion rate for several key projects, including Wujiang Mingfa Jiangwan New City Phase I and Nanjing Mingdeng Yuanshan Ni Mansion[124][111]. - The total area for the Wujiang Mingfa Jiangwan New City Phase II project is 506,829 square meters, with a completion status of 100% expected by December 2023[146]. - The company has completed approximately 90% of construction for multiple projects scheduled for completion in December 2023, including residential and commercial developments in Jiangsu and Liaoning provinces[160]. Market Expansion and Strategy - The company is actively pursuing market expansion strategies, including the development of new residential and commercial properties across various provinces in China[58]. - The company is expanding its market presence with new projects in various provinces, including Anhui and Fujian, with completion rates ranging from 55% to 80%[176]. - The company is actively pursuing new strategies for market expansion, including the development of technology parks and mixed-use complexes[176]. - The company has identified several properties with significant potential for rental and sales, contributing to future revenue growth[187]. Challenges and Risk Management - The company faced significant challenges in the property development market during the fiscal year ending December 31, 2022, due to the impact of COVID-19, which disrupted supply chains and construction timelines[83]. - The company anticipates ongoing challenges in the market due to global economic instability and inflationary pressures, which may affect future performance[83]. - The company is committed to enhancing its governance and risk management practices to navigate the complexities of the current economic environment[83]. Employee and Operational Efficiency - The group employed 4,073 staff as of December 31, 2022, with total employee costs of approximately RMB 303.7 million, down from RMB 434.9 million in 2021[10]. - The company is exploring new product and technology developments to adapt to changing market demands and improve operational efficiency[83]. Future Developments - The total area of the new projects under development is approximately 1,554,323 square meters[186]. - The company holds land use rights for future developments, totaling 13,333,174 square meters[186]. - The company has a projected completion of 615,764 square meters for the Wujiang Mingfa Jiangwan New City Phase III by December 2024[146]. - The company has completed approximately 45% of the construction for the Jiangsu project, with a total building area of 55,791 square meters[189].
明发集团(00846) - 2022 - 年度财报