Financial Performance - The company's confirmed revenue for the year ended December 31, 2022, was RMB 513.3 million, a decrease of 74.9% compared to RMB 2,043.1 million in 2021[13]. - The net loss for the year was RMB 887.8 million, while the profit for 2021 was RMB 198.8 million, resulting in a loss attributable to shareholders of RMB 721.9 million compared to a profit of RMB 216.4 million in 2021[13]. - The group recorded a net loss of RMB 887.8 million in 2022, compared to a net profit of RMB 198.8 million in 2021, with a loss attributable to the owners of the company amounting to RMB 721.9 million[34]. - Basic and diluted loss per share for 2022 was RMB (0.44), compared to earnings of RMB 0.13 per share in 2021[5]. - The gross loss after deducting impairment losses for completed and under-construction properties was RMB 605.9 million, compared to a gross profit of RMB 583.2 million in 2021[85]. - The company's selling and marketing expenses for 2022 were RMB 66.3 million, down 56.8% from RMB 153.3 million in 2021, accounting for 3.2% of total contract sales[79]. - The share of profits from investments accounted for using the equity method decreased from RMB 23.6 million in 2021 to RMB 3.0 million in 2022, primarily due to reduced property deliveries[76]. - The company reported a net loss of RMB 887.8 million for the year, compared to a profit of RMB 198.8 million in 2021[85]. Property Management and Development - The total number of managed properties as of December 31, 2022, was 9,790 units, with a total managed area of 1.365 million square meters, adding 3,478 units and 284,400 square meters during the year[18]. - The property management service revenue for 2022 reached RMB 28.8 million, an increase of 29.7% from RMB 22.2 million in 2021, primarily due to stable growth in managed property area[28]. - The average gross profit margin before impairment losses for the top three cities (Zhaoqing, Tengchong, and Qingyuan) was 19.7%, accounting for 64.4% of the total property development and sales revenue in 2022[30]. - The annual contracted sales amounted to RMB 2,064.4 million, a decrease of 51.0% year-on-year; the total contracted sales area was approximately 198,000 square meters, down 40.7% from 2021[107]. - Revenue from property development and sales in 2022 was RMB 413.8 million, down 78.6% from RMB 1,932.5 million in 2021, accounting for 80.6% of total group revenue[184]. Financial Position and Liabilities - As of December 31, 2022, total assets were RMB 12,487.3 million and total liabilities were RMB 8,769.2 million, representing a decrease of 10.3% and 4.1% respectively compared to December 31, 2021[35]. - The group's total borrowings amounted to RMB 3,628.5 million as of December 31, 2022, a decrease from RMB 4,495.7 million in 2021[63]. - The net debt ratio as of December 31, 2022, was 73.8%, with total borrowings amounting to RMB 3,628.5 million and an average effective interest rate of 6.79%[84]. - The company's current tax liabilities were RMB 393,307 thousand, a decrease of 8.6% from RMB 430,363 thousand in 2021[152]. - The total trade receivables as of December 31, 2022, were RMB 1,481.6 million, compared to RMB 1,299.6 million as of December 31, 2021[196]. Cash Flow and Financing - As of December 31, 2022, cash and bank balances totaled RMB 884.7 million, down from RMB 2,299.8 million on December 31, 2021[61]. - The group's cash and cash equivalents were RMB 187 million as of December 31, 2022[95]. - The group plans to negotiate with banks to extend financing credit and secure new financing to support project-related expenditures[116]. - The group aims to enhance cash flow management and reduce debt ratios while exploring new business models to create higher capital efficiency[178]. - The group has implemented measures to monitor cash flow and ensure sufficient operational funds to meet upcoming financial obligations[116]. Outlook and Strategic Plans - The company will maintain a "cautiously optimistic" outlook for 2023, focusing on stable development and cash flow management to ensure financial stability[20]. - The group plans to accelerate the pre-sale and sale of its properties under construction and completed properties[98]. - The group intends to deepen existing projects and implement a more prudent financial strategy in 2023[178]. - The group will continue to seek alternative financing and loans to meet its existing financial obligations and future operating expenses[98]. - There is significant uncertainty regarding the group's ability to continue as a going concern, dependent on generating sufficient financing and operating cash flows[99]. Regulatory and Market Conditions - The company faced regulatory restrictions and macroeconomic control measures from the Chinese government affecting its operational liquidity[114]. - The majority of the group's consolidated revenue and performance is derived from the Chinese market, with most non-current assets located within China[104].
景业名邦集团(02231) - 2022 - 年度业绩