Financial Performance - Revenue for the nine months ended September 30, 2023, rose by 32.8% to HKD 1,314,891, up from HKD 989,909 in the same period of 2022[5] - The group’s consolidated revenue for the nine months ended September 30, 2023, was approximately HKD 1.315 billion, an increase of about 32.8% compared to HKD 990 million in the same period of 2022[30] - The net loss attributable to the company’s shareholders for the nine months ended September 30, 2023, was HKD 67,880, a decrease of 108.1% compared to a profit of HKD 833,453 in the same period of 2022[5] - The group recorded a loss attributable to shareholders of approximately HKD 67.88 million, a decrease in loss of about HKD 132 million compared to a profit of HKD 833 million in the first half of 2023[30] Asset and Valuation Changes - Total assets as of September 30, 2023, increased by 9.7% to HKD 53,645,645, compared to HKD 48,920,227 as of December 31, 2022[3] - The net asset value per share as of September 30, 2023, was HKD 4.26, a decrease of 6.4% from HKD 4.55 as of December 31, 2022[3] - Investment property fair value gains for the nine months ended September 30, 2023, decreased by 70.6% to HKD 325,620, down from HKD 1,108,169 in the same period of 2022[5] - The group recognized an inventory impairment provision of approximately HKD 203 million due to signs of impairment in some property projects[31] Construction and Development - The company is currently engaged in construction for various projects, including Guangzhou Yuhai Cloud Port City and Foshan Yuhai One Gui Fu, with completion dates extending to 2026[8][9] - The construction of the main structure for the first phase of the Zhuhai project has been completed and has passed acceptance inspection[26] - The main structure of the non-first phase properties in the Zhuhai project has also been completed and is currently undergoing masonry construction[26] - The main structure of the properties in the Jiangmen project (Lot 5) is still under development[27] - The main structure of the Huizhou project has been completed and is currently undergoing outdoor landscaping construction[40] Market Expansion and Sales - The total floor area signed for properties during the review period was approximately 209,000 square meters, compared to 120,000 square meters for the same period in 2022[23] - The total floor area delivered during the review period was approximately 101,000 square meters, up from 47,000 square meters in the same period of 2022[23] - The total floor area of properties held for sale increased, contributing to the revenue growth[30] - The company plans to expand its market presence with ongoing projects in cities such as Guangzhou, Foshan, and Zhongshan, with several properties in various stages of construction and sale[17] - The group has ongoing projects in various locations, including Shenzhen, Jiangmen, and Huizhou, with significant progress reported in construction[34] Financial Costs and Gains - The company recorded a disposal gain of approximately HKD 170 million during the review period, compared to HKD 104 million in 2022[15] - Financing costs increased by approximately HKD 43.18 million compared to the same period in 2022 due to business expansion[31]
粤海置地(00124) - 2023 Q3 - 季度业绩