Financial Performance - The company's contracted sales amounted to RMB 4,532 million, a decrease of 63% compared to RMB 12,404 million in the previous year[7]. - Total revenue for the year was RMB 3,905 million, down 61% from RMB 9,898 million in 2021[7]. - The gross profit fell to RMB 114 million, representing a 91% decline from RMB 1,247 million[7]. - The net loss attributable to shareholders was RMB 913 million, a significant drop of 500% compared to a profit of RMB 228 million in the previous year[7]. - The total assets decreased by 6% to RMB 57,386 million from RMB 61,073 million[7]. - The group's revenue for the year ended December 31, 2022, was RMB 3,904.7 million, a decrease of 60.6% compared to RMB 9,898.4 million for the previous year[39]. - Revenue from property development amounted to RMB 3,340.4 million, down 63.6% year-on-year, primarily due to a reduction in the area of completed projects and sales[39]. - The total contracted sales in 2021 were RMB 12,404.3 million, indicating a significant decline in sales performance in 2022[31]. - The total comprehensive income decreased from RMB 328.4 million as of December 31, 2021, to a loss of RMB 995.3 million as of December 31, 2022, mainly due to foreign exchange fluctuations and reduced capitalized financing costs[50]. - Cash and restricted bank deposits decreased from approximately RMB 935.0 million as of December 31, 2021, to approximately RMB 377.3 million as of December 31, 2022[52]. - Net operating cash inflow decreased from RMB 4,345.3 million as of December 31, 2021, to RMB 606.3 million as of December 31, 2022[53]. Land and Development - As of December 31, 2022, the company's land reserve totaled 7.21 million square meters, with a focus on urban renewal projects[16]. - The total land reserve as of December 31, 2022, was 7,207,130 square meters, with 1,142,870 square meters completed, 2,106,464 square meters under development, and 3,957,795 square meters planned for future development[34]. - The group is actively engaged in first-level land development projects and urban renewal initiatives, particularly in cities like Beijing and Shenzhen[35]. - The group has ongoing urban renewal projects in Shenzhen, with a planned construction area of approximately 3 million square meters[38]. Strategic Focus and Future Plans - The company aims to transition towards the health industry, exploring innovative living concepts and developing health-related communities[19]. - The outlook for 2023 indicates a continued focus on stable and high-quality growth in the real estate sector, with an emphasis on regional development strategies[21]. - The group has a strategic focus on transforming into the health industry to explore broader market opportunities[23]. Financial Management and Costs - The sales and service costs for the year were RMB 3,791.2 million, a decrease of 56.2% compared to the previous year, mainly due to reduced area of completed projects[40]. - Distribution and selling expenses decreased by 63.5% from RMB 263.9 million as of December 31, 2021, to RMB 96.3 million as of December 31, 2022, due to reduced marketing costs resulting from decreased sales revenue[46]. - Administrative expenses decreased by 9.7% from RMB 403.6 million as of December 31, 2021, to RMB 364.3 million as of December 31, 2022, attributed to organizational restructuring and optimization[47]. - Financing costs increased by 95.1% from RMB 371.9 million as of December 31, 2021, to RMB 725.4 million as of December 31, 2022, primarily due to a reduction in capitalized financing costs[48]. Shareholder and Governance - The company does not recommend the payment of a final dividend for the year ended December 31, 2022[62]. - The company aims to enhance shareholder value through sustainable profit growth and stable dividend returns[91]. - The annual general meeting for shareholders is scheduled for June 28, 2023, with notifications to be published as per listing rules[97]. - The company recognizes the critical role of stakeholders, including employees and customers, in its success[85]. - The company has established a governance policy and regularly reviews compliance with legal and regulatory requirements[184]. Risk Management and Internal Control - The board is responsible for maintaining effective risk management and internal control systems to protect shareholder investments and company assets[200]. - The group has established a robust risk management and internal control framework involving the board, audit committee, internal control committee, and senior management[200]. - The board clarifies that the risk management system aims to manage, not eliminate, risks associated with achieving business objectives[200]. - Designated risk owners are responsible for developing risk mitigation plans to bring risks to acceptable levels[200]. - The internal audit department plays a crucial role in monitoring the company's internal governance[200]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions during the reporting period[161]. - The board consists of five executive directors and two independent non-executive directors as of December 31, 2022, with one independent non-executive director resigning on November 30, 2022[166]. - The board has established four committees, including the audit committee, remuneration committee, nomination committee, and internal control committee, to oversee specific aspects of the company's affairs[162]. - The company emphasizes the importance of transparency and accountability to shareholders and has implemented a board diversity policy[167]. Audit and Compliance - The independent auditor's report on the company's consolidated financial statements is included in the annual report[198]. - The audit committee, comprising three independent non-executive directors, monitors and reviews financial statements and the relationship with external auditors[192]. - The audit committee held two meetings during the reporting period, with full attendance from its members[193]. Community and Environmental Responsibility - The company has established a commitment to environmental protection, adhering to national and local regulations regarding pollution and waste management[80]. - The group made charitable donations totaling RMB 0.3 million during the reporting period[155].
国瑞健康(02329) - 2022 - 年度财报