Financial Performance - Revenue for the year was RMB 41.62 billion, a significant decrease from RMB 78.29 billion in the previous year[4] - The core profit attributable to the parent company was RMB 253 million, while the net loss for the year was RMB 8.87 billion[2] - The company reported a gross loss of RMB 4.78 billion compared to a gross profit of RMB 17.11 billion in the previous year[4] - The comprehensive loss for the year totaled RMB 10.97 billion, compared to a comprehensive income of RMB 10.81 billion in the previous year[5] - The reported loss for the segments was RMB (7,739,062) for 2022, compared to a profit of RMB 14,898,908 in 2021, indicating a significant shift in performance[17] - The revenue from property development for 2022 was RMB 38,353,128, down from RMB 66,970,095 in 2021, reflecting a decrease of about 43%[18] - The company reported a total of RMB 468,745 in other income and gains for 2022, a substantial decline from RMB 2,484,835 in 2021[19] - Financial costs for the year 2022 amounted to RMB 1,831,848, an increase from RMB 1,298,542 in 2021, indicating rising borrowing costs[22] - The total reported segment revenue for 2022 was RMB 48,654,923, down from RMB 91,906,078 in 2021, marking a decrease of approximately 47%[17] - The total tax expense for the year was RMB 1,181,677 thousand, down from RMB 4,457,473 thousand in the previous year, indicating a decrease of approximately 73.5%[25] - The group recorded a net foreign exchange gain of RMB 227,497 thousand in 2022, compared to a loss of RMB (38,256) thousand in 2021[23] - The group incurred a significant inventory impairment provision of RMB 9,230,000 thousand in 2022, with no such provision in 2021[23] - The group reported a net loss attributable to equity holders of the parent of RMB (8,524,081) thousand in 2022, compared to a profit of RMB 9,975,466 thousand in 2021[26] - The gross margin for 2022 was 10.7%, down from 21.9% in 2021[46] - The debt-to-asset ratio increased to 76.6% from 71.0% in the previous year[46] Assets and Liabilities - Total assets reached RMB 278.32 billion, with current assets at RMB 215.25 billion and a current ratio of 1.19[2] - Total liabilities increased to RMB 181.02 billion from RMB 155.13 billion in the previous year[6] - The company’s net assets decreased to RMB 51.87 billion from RMB 67.77 billion year-on-year[7] - The group's total liabilities amounted to RMB 226,451.9 million, an increase from RMB 218,133.3 million in the previous year[54] - The group's total current assets amounted to RMB 215,252 million, with cash and cash equivalents at RMB 14,102 million, while total current liabilities were RMB 181,018 million[10] - The group's total liabilities under cross-border guarantee arrangements were RMB 4,755,373 thousand in 2022, down from RMB 11,315,048 thousand in 2021[31] Cash Flow and Debt Management - The company is actively negotiating with financial institutions and debt holders regarding the extension of loans and senior notes to alleviate liquidity pressure[10] - Plans are in place to accelerate the pre-sale and sale of properties under development and completed properties to improve cash flow[10] - The company has appointed a Chief Debt Management Officer to guide the development of a feasible debt extension plan[10] - The board believes that, given the current plans and measures, the group will have sufficient operating funds to meet its operational needs and debt obligations in the foreseeable future[11] - The group has suspended interest payments on all offshore USD senior notes and HKD equity-linked securities since August 7, 2022[9] - The company has been in constructive dialogue with creditor groups to reach a debt restructuring agreement[10] - The group is actively communicating with creditors to manage debt and plans to announce an overseas debt extension scheme in the coming months[35] Sales and Development - Contract sales amounted to RMB 44.11 billion[2] - In 2022, the group achieved contract sales of approximately RMB 44.11 billion, with the Greater Bay Area contributing 36.4% of the total sales[40] - The group delivered 62,000 units in 2022, achieving a contract delivery rate of 100%[35] - The group has a total land reserve of approximately 28.62 million square meters, with the Greater Bay Area and Yangtze River Delta accounting for about 73% by value[44] - The group plans to launch key projects in 2023, including Shenzhen Longguang • Jinxiu Park No. 1 and Hong Kong Kaiyue[40] - The group has 135 projects under construction as of December 31, 2022, with a planned total construction area of approximately 21.79 million square meters[43] - The average selling price in the Greater Bay Area was RMB 17,860 per square meter, while the Yangtze River Delta region had an average selling price of RMB 27,143 per square meter[41] - The group has completed 42 projects with a total planned construction area of approximately 4.74 million square meters in 2022[42] Shareholder Information - The net loss per share attributable to ordinary shareholders was RMB (155.69), down from RMB 181.83 in the previous year[4] - The group did not recommend a final dividend for the years ended December 31, 2022, and 2021, compared to a dividend of HKD 0.49 per share in 2021[24] - The company confirmed compliance with the standards for securities trading by all directors during the year ended December 31, 2022[60] - The company plans to publish its annual report for 2022 on March 30, 2023, which will include all applicable information as per listing rules[64] Awards and Recognition - The group received 25 international design awards for its projects in 2022, highlighting its focus on differentiated quality products[36]
龙光集团(03380) - 2022 - 年度业绩