Financial Performance - The group reported a net loss of RMB 13,011.9 million for the year ended December 31, 2022[18]. - The group's total revenue for 2022 was RMB 25,390,022,000, down 28.7% from RMB 35,544,684,000 in 2021[26]. - The group's property sales for the year 2022 amounted to RMB 21,277,141,000, a decrease of 30.2% compared to RMB 30,565,700,000 in 2021[26]. - The annual loss for 2022 was RMB (13,011,926,000), slightly improved from a loss of RMB (13,258,403,000) in 2021[30]. - The loss attributable to the company's owners for 2022 was RMB (13,049,239,000), compared to RMB (12,758,281,000) in the previous year[31]. - The group's gross profit decreased from approximately RMB 4,628.3 million in 2021 to approximately RMB 3,392.4 million in 2022, a decline of approximately RMB 1,235.8 million or 26.7%[140]. - The core net loss for 2022 was approximately RMB 5,762.4 million, a decrease of 48.6% from RMB 11,217.2 million in 2021[153]. Revenue Breakdown - Total revenue from property development reached RMB 21,277,141,000, while revenue from external customers was RMB 21,817,763,000[44]. - Revenue from property management services decreased from approximately RMB 2,136.1 million in 2021 to approximately RMB 1,614.0 million in 2022, a decline of approximately RMB 522.1 million or 24.4%[136]. - Revenue from hotel and catering business was RMB 1,008,749,000, indicating a focus on hospitality services[44]. - Revenue from hotel and restaurant operations decreased from approximately RMB 343.8 million in 2021 to approximately RMB 319.3 million in 2022, a decline of about RMB 24.5 million or 7.1%[162]. - Revenue from waterway passenger and cargo transport decreased from approximately RMB 591.7 million in 2021 to approximately RMB 232.3 million in 2022, a decline of about RMB 359.4 million or 60.7%[166]. Cost Management - Sales and marketing costs decreased from approximately RMB 1,611.9 million in 2021 to about RMB 568.7 million in 2022, a reduction of approximately RMB 1,043.2 million or 64.7%[2]. - Administrative expenses decreased from approximately RMB 3,588.6 million in 2021 to about RMB 2,620.1 million in 2022, a decline of approximately RMB 968.6 million or 27.0%[3]. - The company plans to control administrative costs and avoid unnecessary capital expenditures to maintain liquidity[37]. - The company’s employee costs, including director remuneration, totaled RMB 1,626,421,000 for the year ended December 31, 2022, compared to RMB 2,412,499,000 in 2021, reflecting a reduction of approximately 32.6%[72]. Asset and Liability Management - The group's net current assets decreased to RMB 5,553.7 million as of December 31, 2022[18]. - The total current liabilities amounted to RMB 201,719.5 million, including overdue or cross-default liabilities[18]. - Total assets amounted to RMB 290,130,023 thousand, while total liabilities were RMB 231,048,007 thousand, resulting in a net asset value of RMB 59,082,016 thousand[47]. - The total liabilities, including perpetual capital securities, were approximately RMB 230,448.9 million, slightly down from RMB 232,398.1 million in the previous year[189]. - The net debt-to-equity ratio reached 382.8%, up 180.7 percentage points from 2021's 202.1%[188]. Market Conditions and Strategic Plans - The economic environment in 2022 was challenging, with a GDP growth of only 3.0% due to factors such as the Russia-Ukraine conflict and continuous interest rate hikes in the US[2]. - The group plans to accelerate the presale and sales of its developed and under-development properties, responding to changing market conditions[19]. - The group aims to adjust its sales and presale activities to achieve the latest sales and presale budget figures[19]. - The group is actively engaging with creditors to develop a potential restructuring plan to alleviate liquidity issues[4]. - The outlook for the real estate industry is expected to improve with the relaxation of purchasing and selling restrictions in major cities and the central bank's reduction of mortgage rates[150]. Future Outlook - The company anticipates that 2023 will be a turning point for the Chinese economy, with a gradual recovery expected[126]. - The company plans to maintain effective and stable urban renewal reserves to promote high-quality development[4]. - The group plans to continue land reserve replenishment across the country through cooperative development, mergers and acquisitions, and urban renewal initiatives[158]. - The company aims to actively promote business risk mitigation and capture market opportunities for sustainable development[127]. - The company will continue to reduce negative impacts and enhance core advantages for sustainable development[128].
佳兆业集团(01638) - 2022 - 年度业绩