Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 42,611.5 million, representing a 3.0% increase from RMB 41,366.6 million in 2022[3] - Gross profit decreased by 14.9% to RMB 8,731.9 million, down from RMB 10,257.5 million in the previous year[3] - Net profit for the year was RMB 516.7 million, a significant decline of 77.2% compared to RMB 2,261.3 million in 2022[3] - Profit attributable to shareholders decreased by 85.0% to RMB 292.3 million from RMB 1,943.4 million in the prior year[3] - Core net profit attributable to shareholders was RMB 3,939.5 million, down 21.6% from RMB 5,021.8 million in 2022[3] - Basic and diluted earnings per share were both RMB 8.69, a decrease of 84.9% from RMB 57.68 in the previous year[3] Cash and Assets - Total cash and bank deposits increased by 13.7% to RMB 12,939.3 million, compared to RMB 11,376.8 million in 2022[3] - Total assets decreased from RMB 70,076,896 thousand in 2022 to RMB 69,244,074 thousand in 2023, a decline of approximately 1.2%[12] - Cash and cash equivalents increased from RMB 11,215,770 thousand in 2022 to RMB 12,637,187 thousand in 2023, an increase of approximately 12.7%[12] - The company's retained earnings decreased from RMB 9,313,601 thousand in 2022 to RMB 8,164,706 thousand in 2023, a decrease of approximately 12.3%[12] Liabilities and Equity - Non-current liabilities decreased from RMB 5,173,725 thousand in 2022 to RMB 4,078,482 thousand in 2023, a reduction of about 21.0%[13] - Current liabilities increased from RMB 24,994,171 thousand in 2022 to RMB 26,383,515 thousand in 2023, an increase of approximately 5.5%[13] - Total equity decreased from RMB 39,909,000 thousand in 2022 to RMB 38,782,077 thousand in 2023, a decline of about 2.8%[13] Revenue Breakdown - Revenue from property management and related services outside of "Three Supplies and One Industry" increased to RMB 30,195,273 thousand in 2023, up from RMB 29,691,448 thousand in 2022, representing a growth of approximately 1.7%[33] - Revenue from "Three Supplies and One Industry" business reached RMB 6,520,190 thousand in 2023, compared to RMB 5,553,124 thousand in 2022, marking an increase of about 17.4%[37] - Total revenue from urban services was RMB 4,883,630 thousand in 2023, slightly up from RMB 4,836,881 thousand in 2022, indicating a growth of approximately 1.0%[33] Expenses and Profit Margins - The group's total cost for the year was approximately RMB 33,879.6 million, an increase of about 8.9% compared to RMB 31,109.1 million for the year ended December 31, 2022[137] - The overall gross profit decreased by approximately RMB 1,525.6 million to about RMB 8,731.9 million, representing a decline of approximately 14.9%[139] - The overall gross profit margin fell by 4.3 percentage points to approximately 20.5% from about 24.8% for the year ended December 31, 2022[139] Dividends - The company proposed a final dividend of RMB 2.19 per share and a special dividend of RMB 27.27 per share, compared to RMB 14.40 and RMB 22.81 per share in 2022, respectively[4] Employee and Training - As of December 31, 2023, the group had 213,712 employees, a decrease from 227,759 employees as of December 31, 2022[181] - The group organized a total of 2,486 training sessions, with employees accumulating 936,528 hours of learning as of December 31, 2023[184] Strategic Initiatives - The company is focusing on a "1+N+X" community value-added development strategy to enhance its core business capabilities[107] - The company has made significant investments in digitalization, including AIoT business and self-developed IoT solutions to enhance service quality and management efficiency[102] Acquisitions and Share Repurchases - The company completed a share donation of 674,640,867 shares, representing approximately 20% of the total issued shares, to the Guo Qiang Charity Foundation (Hong Kong) for charitable purposes[193] - The company repurchased a total of 30,184,000 shares at a total cost of HKD 289,932,000, which were subsequently cancelled[195] Impairments - The company has recognized an impairment provision for trade receivables from related parties amounting to approximately RMB 1.8 billion to RMB 2.3 billion[200] - An impairment provision for goodwill and other intangible assets has been estimated at approximately RMB 1.4 billion to RMB 1.8 billion[200]
碧桂园服务(06098) - 2023 - 年度业绩