世茂集团(00813) - 2023 - 年度业绩

Revenue Performance - Total revenue for the year ended December 31, 2022, was RMB 63.04 billion, down from RMB 107.80 billion in 2021[1] - The group's total revenue for 2022 was RMB 1.75 billion, a decline of 17.5% compared to 2021[51] - The revenue from hotel operations, commercial operations, property management, and other businesses was RMB 12.78 billion, a year-on-year decrease of 4.0%[25] - The group's revenue for the year ended December 31, 2022, was approximately RMB 63.04 billion, a decrease of 41.5% compared to RMB 107.80 billion in 2021, primarily due to slower completion progress[42] - The total revenue for the year reached RMB 107,797,269,000, a significant decrease compared to the previous year's figures[113] Property Sales - Property sales decreased by 46.8% from RMB 94.49 billion in 2021 to RMB 50.26 billion in 2022[1] - The contracted sales amount for 2022 reached RMB 86.52 billion, with a total contracted sales area of 5.374 million square meters[31] - Property sales for the year ended December 31, 2022, were RMB 50.26 billion, a decrease of approximately 46.8% compared to RMB 94.49 billion in 2021[92] - In 2022, the company's commercial project sales (excluding the impact of new energy vehicles) declined by 21% year-on-year, with foot traffic down 24% and occupancy rates decreasing by approximately 4 percentage points[46] Financial Performance - The net loss attributable to shareholders decreased from RMB 27.09 billion in 2021 to RMB 21.49 billion in 2022, primarily due to increased gross profit and other income from the sale of subsidiaries[61] - The core business loss attributable to shareholders decreased to approximately RMB 12.825 billion in 2022 from RMB 23.251 billion in 2021, with a core business loss rate of 32.3%[55] - The company reported a net loss of RMB 20,659.31 million for the year, an improvement of 27.5% compared to a net loss of RMB 28,376.88 million in 2021[70] - The group recorded a loss attributable to equity holders of approximately RMB 21.5 billion for the year ended December 31, 2022[105] - The company reported a significant operating loss of RMB 18,515,859,000, highlighting operational difficulties[113] Costs and Expenses - Selling costs decreased by 45.1% from RMB 105.18 billion in 2021 to approximately RMB 57.76 billion in 2022, consistent with the revenue decline[5] - Administrative expenses decreased by 4.7% from RMB 6.00 billion in 2021 to approximately RMB 5.72 billion in 2022[11] - The total cost of properties sold and other expenses for the year ended December 31, 2022, was RMB 68,270,574, a decrease of 45.7% from RMB 125,843,874 in 2021[149] - Financing costs for the year amounted to RMB 15,509,967, significantly higher than RMB 5,939,042 in 2021, indicating a rise in financial expenses[150] Assets and Liabilities - Total liabilities as of December 31, 2022, were RMB 536.71 billion, compared to RMB 514.10 billion in the previous year[99] - The net debt ratio as of December 31, 2022, was approximately 302.2%, up from 156.0% in 2021[56] - The total borrowings increased by 18.2% to approximately RMB 274.007 billion as of December 31, 2022, due to the ongoing decline in the real estate industry and the impact of COVID-19[67] - The asset-liability ratio, excluding advance receipts, was approximately 83.8% as of December 31, 2022, compared to 77.4% in 2021[64] Operational Strategy - The company has adjusted its operational strategy by suspending land acquisitions and focusing on the fine management of existing projects[32] - The company aims to enhance operational efficiency and value chain restructuring as part of its strategic transformation[40] - Shimao Group will focus on cash flow management, profitability enhancement, market development, and digital capabilities in 2023[48] Future Outlook - The real estate market in China is expected to experience a moderate recovery in 2023, although significant pressure remains on the industry[40] - The company plans to complete approximately 6 million square meters of construction area in 2023, with a total construction area of about 34.5 million square meters[28] - The group has developed a business strategy focused on accelerating property sales, which is expected to provide sufficient financial resources for ongoing operations and to meet financial obligations within the next twelve months[107] Dividends and Shareholder Returns - The board of directors did not recommend the distribution of a final dividend for the year ended December 31, 2022[25] - The company did not recommend a final dividend for the year ended December 31, 2022, consistent with the previous year[131] Debt Restructuring - The group is actively pursuing a restructuring of its offshore debt, which includes approximately $6.8 billion in USD-denominated senior notes and various loans totaling about $2.1 billion and HK$20.9 billion from offshore banks and financial institutions[107] - The company is currently working on a restructuring plan and has sent proposals to the advisory committee, aiming to narrow differences in economic terms[161] - The company has agreed to extend the maturity of domestic long-term bonds totaling RMB 14.35 billion to 2028, indicating a restructuring of its debt obligations[160]