Financial Performance - The unaudited consolidated management accounts for the year ended December 31, 2022, reported revenue of RMB 47,440,141,000, a decrease from RMB 107,834,741,000 in the previous year, representing a decline of approximately 56%[5] - The company recorded a loss before tax of RMB 12,932,360,000 for the year ended December 31, 2022, compared to a profit of RMB 18,227,603,000 in the previous year[5] - The net loss for the year was RMB 13,559,978,000, compared to a profit of RMB 12,327,177,000 in the previous year, indicating a significant downturn in performance[6] - The basic and diluted loss per share for the year was RMB (1.42), compared to earnings of RMB 0.88 in the previous year[6] - The total comprehensive loss for the year amounted to RMB (13,566,350,000), compared to a total comprehensive income of RMB 11,961,925,000 in the previous year[6] - The reported segment revenue for the year ended December 31, 2022, was RMB 47,440,141 thousand, a decrease from RMB 107,834,741 thousand in 2021, representing a decline of approximately 56%[20] - The reported segment profit for 2022 was RMB 126,682 thousand, significantly lower than RMB 18,430,517 thousand in 2021, indicating a decrease of around 99%[23] - Other income, gains, and losses for 2022 amounted to RMB (1,335,262) thousand, compared to RMB 2,075,998 thousand in 2021, reflecting a substantial decline[26] - Financing costs for 2022 were RMB (2,565,380) thousand, an increase from RMB (578,745) thousand in 2021, showing a rise of approximately 344%[23] - The company reported a significant loss before tax of RMB (12,932,360) thousand for 2022, compared to a profit of RMB 18,227,603 thousand in 2021[23] Assets and Liabilities - Non-current assets increased to RMB 78,512,967 thousand in 2022 from RMB 81,222,556 thousand in 2021, a decrease of approximately 3.5%[7] - Current assets decreased to RMB 307,619,880 thousand in 2022 from RMB 351,526,976 thousand in 2021, a decline of about 12.5%[7] - Total liabilities increased to RMB 258,658,122 thousand in 2022 from RMB 223,739,669 thousand in 2021, representing an increase of approximately 15.6%[8] - The company's equity attributable to shareholders decreased to RMB 29,414,366 thousand in 2022 from RMB 41,990,154 thousand in 2021, a decrease of around 30%[8] - The cash and cash equivalents decreased significantly to RMB 20,425,310 thousand in 2022 from RMB 46,462,460 thousand in 2021, a decline of about 56%[7] - The company reported a net current asset value of RMB 48,961,758 thousand in 2022, down from RMB 127,787,307 thousand in 2021, a decrease of approximately 61.7%[8] - The total assets less current liabilities decreased to RMB 127,474,725 thousand in 2022 from RMB 209,009,863 thousand in 2021, a decline of about 38.9%[8] Audit and Compliance - The audit of the consolidated financial statements for the year ended December 31, 2022, is still ongoing, delaying the publication of the audited results[3] - The company plans to complete the audit as soon as possible to resume trading of its ordinary shares on the stock exchange[3] - The financial data mentioned in the announcement is unaudited and has not been agreed upon by auditors and the audit committee[85] - The company is unable to publish the audited 2022 annual results by April 30, 2023, as required by listing rules[84] - Management aims to publish the audited 2022 annual results and send the annual report by June 30, 2023, or earlier[84] - Shareholders and potential investors are advised to exercise caution when trading the company's securities[85] Market and Sales Performance - The group achieved a contract sales amount of approximately RMB 124 billion in 2022, with a total construction area of 8,393,200 square meters sold[41] - The average selling price for contract sales in 2022 was approximately RMB 14,778 per square meter[41] - The contribution to total contract sales in 2022 from the Yangtze River Delta, Central and Western regions, Bohai Rim, and South China was approximately 34.3%, 28.0%, 24.6%, and 13.1% respectively[41] - Sales from first- and second-tier cities accounted for about 88.0% of total contract sales, while third-tier cities contributed the remaining 12.0%[41] - Residential projects represented approximately 90.8% of total contract sales, with office and commercial projects making up the remaining 9.2%[41] - The total area of properties delivered in 2022 was approximately 2,970,794 square meters, a decrease of 56.4% year-on-year[47] - The confirmed revenue from property sales in 2022 reached RMB 39,131,415 thousand, a decrease from RMB 99,288,398 thousand in 2021, representing a 60.6% decline[49] - Residential properties accounted for 95.0% of total sales revenue in 2022, generating RMB 37,261,883 thousand, down from RMB 96,586,924 thousand in 2021[50] Financial Ratios and Debt - The net debt to equity ratio is calculated based on the total debt minus cash and cash equivalents, reflecting the company's financial leverage[40] - The net debt-to-equity ratio as of December 31, 2022, was approximately 102.0%, up from 62.8% on December 31, 2021[83] - The debt-to-asset ratio as of December 31, 2022, was approximately 28.1%, compared to 26.4% on December 31, 2021[83] - The current ratio as of December 31, 2022, was approximately 1.2 times, down from 1.6 times on December 31, 2021[83] - The group's total outstanding borrowings amounted to approximately RMB 108.45 billion, a decrease from RMB 114.11 billion as of December 31, 2021[77] - The group's total borrowings are composed of approximately 57.1% in RMB and 42.9% in foreign currencies[77] - The weighted average cost of debt as of December 31, 2022, was 4.9%, slightly down from 5.0% on December 31, 2021[79] Operational Challenges - The company has acknowledged an anonymous letter questioning transactions amounting to approximately RMB 1.8 billion related to sales of parking spaces and financial assets[1] - The management believes that the related transactions have been properly reflected in the group's management accounts[2] - The group has not early adopted any new or revised International Financial Reporting Standards (IFRS) that have been issued but are not yet effective[12] - The management anticipates that the application of all other new and revised IFRS will not have a significant impact on the consolidated financial statements in the foreseeable future[13] - The group recorded a gross profit of approximately RMB 2,326,800,000 in 2022, down 88.8% from RMB 20,797,400,000 in 2021[61] - The group experienced a foreign exchange loss of approximately RMB 1,970,200,000 in 2022 due to the depreciation of the RMB[61] - The group's share of losses from joint ventures and associates in 2022 was RMB 1,740,300,000, compared to a profit of RMB 758,800,000 in 2021[66]
旭辉控股集团(00884) - 2022 - 年度业绩