Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 13,272.1 million, a decrease of 36.3% year-on-year[2] - Core net profit attributable to the company’s owners was RMB 991.3 million, an increase of 20.5% year-on-year after excluding fair value gains from investment properties and foreign exchange effects[2] - Total comprehensive income for the year was RMB 1,274.2 million, compared to RMB 812.5 million in 2022[4] - The company reported a net profit of RMB 1,419.6 million for the year, up from RMB 1,100.6 million in 2022[4] - Basic and diluted earnings per share were RMB 2.2 cents, down from RMB 3.5 cents in the previous year[3] - The consolidated profit before tax for the year ended December 31, 2023, was RMB 3,663,014 thousand, compared to RMB 2,600,471 thousand in 2022, indicating an increase of approximately 40.9%[28] - The profit before tax for 2023 was RMB 340,027 thousand, down from RMB 530,773 thousand in 2022, representing a decline of 35.9%[50] Revenue Breakdown - Rental and related service income from investment properties increased by 24.8% year-on-year to RMB 4,359.3 million[2] - Hotel operating revenue rose by 75.1% year-on-year to RMB 969.8 million[2] - Revenue from property sales decreased significantly to RMB 7,705,374 thousand in 2023, down 53.2% from RMB 16,483,682 thousand in 2022[18] - Revenue from customer contracts totaled RMB 9,538,667 thousand in 2023, a decrease of 46.8% from RMB 17,927,330 thousand in 2022[19] - The total segment revenue for property investment was RMB 4,359,321 thousand, while property and land development generated RMB 7,705,374 thousand in 2023[29] Dividends - The board proposed a final dividend of HKD 0.72 per share for 2023, down from HKD 1.2 per share in 2022, with a special dividend of HKD 0.72 per share[2] - For the year ending December 31, 2023, the proposed final and special dividends are HKD 0.0072 per share each, amounting to approximately HKD 205 million (RMB 183 million) in total[51] Assets and Liabilities - Non-current assets, including investment properties, decreased to RMB 56,949.3 million from RMB 63,155.8 million in 2022[5] - Current liabilities total RMB 44,119,249 thousand, an increase from RMB 34,460,923 thousand year-over-year[8] - The company's net asset value stands at RMB 56,437,328 thousand, a decrease from RMB 58,089,278 thousand[10] - The company’s total liabilities are RMB 43,062,501 thousand, down from RMB 47,453,291 thousand[10] - The total assets as of December 31, 2023, amounted to RMB 143,619.1 million, compared to RMB 140,003.5 million in 2022, showing a growth of about 1.1%[73] Operational Highlights - The company expects to continue focusing on property development and management services, with a significant portion of revenue recognized over time[22] - The company plans to enhance its market expansion strategies and explore potential mergers and acquisitions to drive future growth[22] - The company aims to invest in new product and technology development to improve service offerings and operational efficiency[22] - The company opened approximately 380 new commercial projects during the year, contributing to a gradual recovery in the consumption market[60] Employee and Governance - As of December 31, 2023, the group had a total of 3,638 employees, reflecting a commitment to talent development and retention[76] - The company has adopted all provisions of the corporate governance code as per the listing rules, ensuring compliance throughout the fiscal year[82] - The company has established various internal training programs to enhance employee skills and promote internal talent mobility[76] Financial Management - The company has a financial risk management policy in place to ensure all payables are settled within the credit period[56] - The average financing cost was maintained at a low level of 4.49% despite the impact of interest rate hikes in USD[75] - The net debt to total equity ratio improved to 44.0% in 2023, a decrease of 5.5 percentage points from 49.5% in the previous year[75] Miscellaneous - The company has no significant events or transactions affecting the group that require disclosure to shareholders since December 31, 2023[84] - The company will hold its 2024 Annual General Meeting on June 13, 2024, with relevant notices to be published on its website[78]
大悦城地产(00207) - 2023 - 年度业绩