龙湖集团(00960) - 2022 - 年度业绩

Financial Performance - Revenue increased by 12.2% year-on-year to RMB 250.57 billion[2] - Profit attributable to shareholders was RMB 24.36 billion, with core profit increasing by 0.5% year-on-year to RMB 22.54 billion[2] - Gross profit was RMB 53.04 billion, with a gross margin of 21.2%[2] - Total revenue for 2022 reached RMB 250,565,107 thousand, an increase of 12.2% from RMB 223,375,477 thousand in 2021[15] - The annual profit for 2022 was RMB 24,362,046,000, compared to RMB 23,853,686,000 in 2021, reflecting an increase of approximately 2.1%[29] - Segment profit for 2022 was RMB 46,812,618 thousand, a decrease of 6.3% compared to RMB 50,291,315 thousand in 2021[15] - The group reported revenue from external customers of RMB 221,435,457 thousand for the year ended December 31, 2022, an increase from RMB 194,449,226 thousand in the previous year, representing a growth of approximately 13.9%[11] Sales and Contracted Sales - Contract sales amounted to RMB 201.59 billion, corresponding to a total sales area of 13.047 million square meters[1] - Revenue from property sales recognized at a point in time was RMB 219,478,678 thousand, up 13.5% from RMB 193,345,489 thousand in 2021[15] - The total area of properties delivered was 15.515 million square meters, with a unit price of RMB 14,632 per square meter[39] - The total contracted sales in Hangzhou reached RMB 21.93 billion, with a sold area of 738,000 square meters, showing a year-on-year increase[42] - The contracted sales in the Yangtze River Delta, Bohai Rim, Western region, South China, and Central China accounted for 38.5%, 20.5%, 19.5%, 12.5%, and 9.0% of the total sales, respectively[41] Assets and Liabilities - Total assets decreased to RMB 786,774,416 thousand in 2022 from RMB 875,651,107 thousand in 2021, reflecting a decline of 10.1%[15] - Total liabilities reduced to RMB 553,595,326 thousand in 2022, down 15.3% from RMB 653,773,499 thousand in 2021[15] - Total equity attributable to shareholders rose to RMB 142.10 billion, compared to RMB 124.95 billion in the previous year[5] - Non-current assets increased to RMB 246.54 billion, while current assets decreased to RMB 540.24 billion[4] Dividends - The board proposed a final dividend of RMB 0.80 per share, totaling an annual dividend of RMB 1.13 per share[1] - The company declared a mid-year dividend of RMB 0.33 per share for 2022, down from RMB 0.47 per share in 2021, totaling RMB 2,072,632,000[27] - The company has proposed a final dividend of RMB 0.80 per share for the year ending December 31, 2022, which is lower than the RMB 1.23 per share for the previous year[28] Debt and Financing - Total borrowings reached RMB 208.01 billion, with an average borrowing cost of 4.10%[1] - The average borrowing cost for the group is 4.10%, with an average loan term of 6.67 years; non-collateralized debt accounts for 69.8% of total debt[63] - The company’s financing costs increased to RMB 158,193 thousand in 2022 from RMB 146,273 thousand in 2021, reflecting an increase of 8.1%[22] - The group has a cash short-term debt ratio of 2.61 times, excluding pre-sale regulated funds and restricted funds[63] Operational Highlights - The group’s operating segments include development, operation, and service businesses, with the development segment focusing on the sale of office, commercial, and residential properties primarily in China[9] - The group’s investment property portfolio primarily consists of shopping malls and rental housing, all located in China, contributing to the operating segment's revenue[9] - The group has opened 116,000 rental housing units under the "Crown Apartment" brand, leading the industry with an overall occupancy rate of 88.5%[45] - The property management segment managed an area of 320 million square meters, maintaining a customer satisfaction rate of over 90% for 14 consecutive years[36] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[15] - The company is focusing on core cities and key regions, emphasizing delivery quality, cash collection quality, and profit margins over scale[36] - The company plans to complete approximately 19 million square meters of property in 2023, with most projects concentrated in the second half of the year[67] - The company will maintain a prudent financial management strategy, focusing on low-cost, multi-channel financing and reasonable debt levels for sustainable development[67] Revenue Streams - Rental income for 2022 was RMB 11,879,811 thousand, an increase of 14.1% compared to RMB 10,413,639 thousand in 2021[15] - The rental income from shopping malls, rental housing, and other sources accounted for 78.1%, 20.2%, and 1.7% of total income, respectively[45] - The group's operating income from rental activities (excluding tax) was RMB 11.88 billion, representing a growth of 14.1% compared to the previous year[45] - The group's service business and other non-tax revenue reached RMB 11.67 billion in 2022, representing a growth of 38.6% year-on-year, with a gross margin of 28.9%[50] Market Conditions - The real estate industry experienced a 26.7% year-on-year decline in sales, totaling RMB 13.3 trillion, but remains a crucial pillar of the national economy[65] - The group aims to maintain a comprehensive layout in high-capacity cities across the country while continuously upgrading its organizational system to enhance its professional capabilities[65] Shareholder Actions - The company purchased a total of 60,763,365 shares under the restricted share incentive plan for approximately HKD 1,880,180,591[75] - The company’s subsidiary bought USD 142,723,000 of the company’s issued preferred notes in the open market[75] - The company redeemed USD 300 million of 3.9% preferred notes due in 2023 and USD 450 million of 3.875% preferred notes due in 2022[75] Compliance and Governance - The group’s financial reporting adheres to the International Financial Reporting Standards, ensuring compliance and transparency in financial disclosures[8] - The audit committee has reviewed the accounting standards and discussed risk management and internal control systems for the year ending December 31, 2022[72]