Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 43.31 billion, a decrease from RMB 54.03 billion in 2022[2]. - The net loss for the year was RMB 12.78 billion, compared to a net loss of RMB 13.37 billion in the previous year[2]. - The company reported a total revenue of RMB 43,310,454 thousand for the year ending December 31, 2023, a decrease from RMB 54,034,327 thousand in 2022, representing a decline of approximately 19.8%[19]. - The net loss attributable to shareholders for the year was RMB 12,776,851 thousand, compared to a loss of RMB 13,373,285 thousand in the previous year, indicating a slight improvement[20]. - The operating loss for the year was RMB 9.555 billion, an increase of 46.7% from RMB 6.513 billion in 2022[62]. - The group recorded a significant operating loss of RMB 11,850,602 thousand for the year, with the property development division alone incurring a loss of RMB 7,169,724 thousand[32]. - The total revenue from external customers was RMB 43,310,454 thousand, showing a decline compared to the previous year’s performance[32]. - The total confirmed sales revenue from property development was RMB 23.598 billion, down 27.3% from RMB 32.456 billion in 2022[63]. - The total area of confirmed sales was 2.13 million square meters, a decrease of 35.6% from 3.31 million square meters in 2022[63]. - The group reported a gross loss of RMB 524 million, a decrease of 152.4% compared to a gross profit of RMB 1 billion in 2022, with a gross loss margin of 1.2%[66]. Assets and Liabilities - Total assets decreased to RMB 241,808,152 thousand as of December 31, 2023, down from RMB 273,382,215 thousand in 2022, reflecting a reduction of about 11.5%[21]. - The company’s total liabilities decreased to RMB 179,451,341 thousand from RMB 197,655,352 thousand, a reduction of about 9.2%[22]. - The company’s total equity decreased to RMB 62,356,811 thousand from RMB 75,726,863 thousand, a decline of approximately 17.7%[23]. - The group’s total trade and other payables decreased to RMB 58.507 billion from RMB 65.657 billion in 2022[10]. - The group’s net current assets were RMB 7,655,492,000, indicating liquidity concerns[27]. - The total borrowings amounted to RMB 53.55 billion as of December 31, 2023, a decrease from RMB 58.99 billion in 2022[73]. Cash Flow and Financing - The total cash and bank deposits amounted to RMB 12.55 billion as of December 31, 2023[3]. - Cash and bank balances, including restricted cash, amounted to RMB 12,553,455,000, while short-term borrowings were RMB 25,869,427,000[27]. - The group successfully extended the repayment of borrowings amounting to approximately RMB 7,498,214,000[27]. - The company plans to accelerate property pre-sales to enhance cash flow from sales proceeds[28]. - The group reported a net financial expense of RMB 851,197 thousand in 2023, significantly lower than RMB 3,101,837 thousand in 2022, marking a decrease of approximately 72.5%[45]. - The total borrowing cost for 2023 was RMB 4.531 billion, an increase of 1.5% from RMB 4.464 billion in 2022, primarily due to higher actual borrowing rates in 2023[77]. - The actual borrowing rate for the year was 7.61%, compared to 6.03% in 2022[77]. Business Operations - The total presale amount reached RMB 45.30 billion, corresponding to a cumulative presale area of 3.039 million square meters, with an average presale price of RMB 14,904 per square meter[3]. - The company delivered over 72,000 units across 120 projects in 60 cities during the year[7]. - The revenue from property development and diversified businesses accounted for 54.5% and 45.5% of total revenue, respectively, with the share of diversified business revenue increasing by 5.6 percentage points year-on-year[5]. - The company continues to focus on the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta for future development[8]. - The company has three ongoing development projects overseas, including one in Malaysia and two in Cambodia and the United States[8]. Market and Economic Outlook - The company anticipates continued economic recovery in 2024, supported by government policies aimed at stabilizing the real estate market[90]. - The real estate sector continues to face a downward trend due to insufficient demand, despite government stimulus measures[27]. - The company is considering selling non-core properties and businesses to generate additional cash flow[27]. - The group will adhere to its operational model of "focusing on real estate while developing diversified businesses" to further enhance brand awareness[18]. Corporate Governance and Compliance - The company has adopted its own code of conduct for directors' securities trading, confirming compliance as of December 31, 2023[96]. - The company has adhered to all provisions of the Corporate Governance Code as of December 31, 2023, with the exception of certain deviations explained in the report[97]. - The board of directors consists of nine members, including the Chairman and CEO, ensuring a unified leadership for the company's development[100]. - The financial data for the year ending December 31, 2023, has been agreed upon by the auditors, confirming the accuracy of the reported figures[100].
雅居乐集团(03383) - 2023 - 年度业绩