Financial Performance - For the year ended December 31, 2022, the group's revenue was RMB 73,630.85 million, with a gross profit of RMB 11,306.44 million and total profit and comprehensive income of RMB 3,576.77 million[2]. - The core net profit for the year was RMB 3,870.19 million, a decrease of 29.1% compared to RMB 5,457.54 million in 2021. The profit attributable to the company's owners was RMB 1,968.99 million, down 49.5% from RMB 3,898.29 million in 2021[2]. - The group's operating profit for the year was RMB 6,831.10 million, down from RMB 8,021.88 million in 2021[6]. - The total comprehensive income for the year attributable to the company's owners was RMB 1,726.36 million, compared to RMB 3,743.56 million in 2021[7]. - The company's profit before tax for the year ended December 31, 2022, was RMB 6,888,005 thousand, a decrease of 21% compared to RMB 8,719,520 thousand in 2021[30]. - The net profit attributable to shareholders for the year ended December 31, 2022, was RMB 1,726,363 thousand, down 54% from RMB 3,743,557 thousand in 2021[33]. - Basic earnings per share for the year ended December 31, 2022, was RMB 1.34, a decline of 56% from RMB 3.04 in 2021[34]. - The income tax expense for the year ended December 31, 2022, was RMB 4,598,470,000, compared to RMB 4,399,885,000 in 2021, showing an increase in tax obligations[28]. Assets and Liabilities - As of December 31, 2022, the group's asset-liability ratio after deducting advance receipts was 68.2%, with a net debt ratio of 43.9% and a cash short-term debt ratio of 1.60 times[2]. - Total assets decreased from RMB 288.52 billion in 2021 to RMB 251.94 billion in 2022, a decline of approximately 12.67%[8]. - Total liabilities decreased from RMB 240.71 billion in 2021 to RMB 201.62 billion in 2022, a reduction of about 16.24%[9]. - The company's equity attributable to owners decreased from RMB 23.51 billion in 2021 to RMB 24.86 billion in 2022, an increase of approximately 5.75%[9]. - Cash and cash equivalents decreased from RMB 26.29 billion in 2021 to RMB 21.81 billion in 2022, a decline of about 17.00%[8]. - The company's bank and other borrowings decreased from RMB 35.35 billion in 2021 to RMB 26.54 billion in 2022, a decrease of about 25.00%[9]. - The total liabilities as of December 31, 2022, were RMB 58,359,483,000, down from RMB 68,959,924,000 in 2021, reflecting a decrease of 15.3%[45]. Revenue Sources - The group's total revenue for the year ended December 31, 2022, was RMB 73,630,848,000, a slight decrease from RMB 73,703,098,000 in 2021, representing a decline of approximately 0.1%[17]. - Revenue from property development and sales for 2022 was RMB 72,192,121,000, down from RMB 72,518,121,000 in 2021, indicating a decrease of about 0.4%[17]. - The group generated RMB 1,142,112,000 from property management services in 2022, an increase of 25.6% compared to RMB 908,690,000 in 2021[17]. - The group's property development and sales recognized revenue was RMB 72,192.12 million, remaining stable compared to RMB 72,518.12 million in 2021[64]. Cost and Expenses - The cost of sales, including construction costs and land costs, amounted to RMB 59,246,511,000 for the year ended December 31, 2022, up from RMB 58,015,823,000 in 2021[25]. - Other income for the year ended December 31, 2022, was RMB 498,049,000, a decrease from RMB 707,676,000 in 2021[26]. - The financial costs for the year ended December 31, 2022, were RMB (2,589,986,000), compared to RMB (2,914,306,000) in 2021, indicating a reduction in financial expenses[28]. - Selling and marketing expenses decreased by 11.1% to RMB 2,367.28 million from RMB 2,662.87 million in 2021 due to strict cost control[69]. - Administrative expenses decreased by 36.4% to RMB 2,150.28 million from RMB 3,382.19 million in 2021, attributed to cost control measures[70]. Investments and Projects - The total land reserve of the group reached 38.74 million square meters, involving 332 property development projects, with 99 projects participated in through joint ventures and associates[4]. - The company participated in 332 property development projects, with total land reserves reaching 38.74 million square meters as of December 31, 2022[52]. - The company acquired 9 projects through equity purchases, increasing equity value by 6.3 billion yuan, primarily in second-tier cities[53]. - The group expanded its project portfolio by adding 49 new projects, including 17 industrial parks and 10 campus projects, with a 67% year-on-year increase in construction area for agency projects[55]. Market and Customer Base - The group's revenue is predominantly derived from the Chinese market, accounting for over 95% of total revenue and non-current assets[18]. - The group has no single customer contributing 10% or more to its total revenue, indicating a diversified customer base[19]. - The average sales price increased by 8% year-on-year to RMB 12,546 per square meter, with sales from tier 2 cities and above accounting for 82% of total sales, indicating a focus on high-level cities[54]. - The group’s focus on high-level cities resulted in 65% of contract sales coming from the Yangtze River Delta and Greater Bay Area, further enhancing sales concentration[54]. Corporate Governance - The company has adopted the Corporate Governance Code and has complied with all provisions as of December 31, 2022[89]. - The company has established an audit committee to assist the board in independent reviews of financial statements and internal controls since September 12, 2018[91]. - The company engages external consultants annually to assess major risks that could impact its operations[90]. - The board consists of nine experienced members, including three independent non-executive directors, to maintain a balance of power and authority[90]. Future Outlook - The company anticipates that the newly adopted accounting standards will not have a significant impact on its future transactions[14]. - The company is focusing on optimizing land reserve structure and enhancing risk resistance by concentrating resources in key economic zones such as the Yangtze River Delta and the Greater Bay Area[52]. - The company is committed to maintaining financial safety and stability, positioning itself as a core force for healthy industry development[51].
美的置业(03990) - 2022 - 年度业绩