Financial Performance - Total revenue for the year ended December 31, 2022, was HKD 11,022,496 thousand, a slight increase from HKD 11,015,088 thousand in 2021[3] - Gross profit decreased to HKD 2,970,470 thousand in 2022 from HKD 3,554,120 thousand in 2021, reflecting a decline of approximately 16.4%[3] - Net profit for the year was HKD 305,001 thousand, down from HKD 898,684 thousand in the previous year, representing a decrease of about 66.1%[4] - Basic earnings per share decreased to HKD 8.47 from HKD 11.91, a decline of approximately 28.8%[4] - The company reported a significant drop in rental income, which fell to HKD 541,497 thousand from HKD 829,307 thousand, a decrease of about 34.8%[3] - Other comprehensive income for the year was a loss of HKD 1,038,212 thousand, compared to a gain of HKD 1,635,599 thousand in 2021, indicating a significant shift in financial performance[4] - The company reported a net profit of HKD 848,598 for the year, significantly lower than HKD 2,762,758 in 2021, indicating a decrease of approximately 69.3%[44] - The group recorded a net profit of HKD 305,001,000, a decline of 66.1% compared to HKD 898,684,000 in the previous year[144] Revenue and Sales - Property sales revenue rose to HKD 10,275,286 thousand, an increase from HKD 9,937,996 thousand in the previous year[38] - The total contract sales amount from commodity housing was RMB 4,711,840,000, a decrease from RMB 7,764,440,000 in 2021, with a sales area of 248,000 square meters, representing a year-on-year increase of 25.9%[85] - The total contract sales amount for commodity and affordable housing was RMB 7,908,440,000, down 11.5% from RMB 8,933,090,000 in 2021[106] - Contract sales from affordable housing reached RMB 3,196,600,000, a significant increase of 173.5% year-on-year, with a sales area of 256,000 square meters, up 306.3%[107] - The group's revenue for the year ended December 31, 2022, was HKD 11,022,496,000, a year-on-year increase of 0.1%, primarily due to competitive flagship projects being delivered as planned[137] - Property sales revenue reached HKD 10,275,286,000, accounting for 93.2% of total revenue, compared to 90.2% in the previous year[137] Dividends and Shareholder Returns - The company proposed a final dividend of HKD 3.0 per share, down 33.3% from HKD 4.5 per share in the previous year[20] - The company declared a final dividend of HKD 0.021 per share in 2022, up from HKD 0.019 in 2021, totaling HKD 216,285,000 compared to HKD 206,672,000 in the previous year[48] - The proposed final dividend is HKD 0.021 per ordinary share and a special dividend of HKD 0.009 per ordinary share, subject to shareholder approval[69] - The company plans to distribute a final cash dividend of HKD 0.021 per share and a special cash dividend of HKD 0.009 per share for the year ended December 31, 2022, pending shareholder approval[169] Assets and Liabilities - Total liabilities decreased to HKD 22,569,287 thousand from HKD 24,630,428 thousand, indicating a reduction of approximately 8.4%[5] - Cash and cash equivalents decreased significantly to HKD 4,477,602 thousand from HKD 14,116,711 thousand, a decline of about 68.3%[5] - Total non-current assets increased to HKD 28,847,264 thousand from HKD 28,261,083 thousand in 2021[23] - The company reported a significant decrease in current liabilities, totaling HKD 25,994,672 thousand, down from HKD 36,356,973 thousand in 2021[26] - The net asset value per share attributable to the company’s owners decreased to HKD 3.04, down 4.1% from HKD 3.17 in the previous year[20] - The debt-to-equity ratio increased to 63.0%, compared to 24.0% in the previous year, indicating a higher leverage position[20] - The net debt to total equity ratio increased from 24.0% to 63.0% year-on-year, with a current ratio of 1.1 times[119] Operational Highlights - The company is focusing on expanding its property development and investment operations in mainland China[28] - The group completed 12 construction projects with a total area of 2,499,000 square meters as of December 31, 2022, including significant projects in Xi'an and Shanghai[132] - The group launched multiple residential projects, achieving stable sales performance despite the pandemic's impact[133] - The group plans to focus on promoting key projects in Xi'an and Shanghai to meet market demand for premium residential properties[111] - The group aims to explore the long-term rental housing market and enhance land reserves to create more development opportunities[149] Market Conditions - The real estate market in mainland China saw a significant downturn, with a 10% decrease in development investment and a 26.7% drop in sales revenue[84] - The macroeconomic outlook for 2023 indicates a recovery in the real estate sector, supported by government measures to boost domestic demand and housing improvements[167] Corporate Governance - The audit committee consists of three independent non-executive directors who reviewed the financial statements for the year ended December 31, 2022[153] - The company confirmed compliance with the corporate governance code and the relevant securities trading guidelines throughout the year ended December 31, 2022[177] - The board of directors expressed gratitude to customers, suppliers, business partners, and shareholders for their continued support[179] Share Repurchase - The company repurchased a total of 13,646,000 shares at a total cost of HKD 7,503,060 during the year ended December 31, 2022[157] - The highest repurchase price per share was HKD 0.61, while the lowest was HKD 0.495[175] - All repurchased shares were cancelled by December 30, 2022, and February 27, 2023, resulting in a reduction of the issued share capital[176]
上实城市开发(00563) - 2022 - 年度业绩