Financial Performance - Total revenue for the year ended December 31, 2023, was RMB 4,446.4 million, a decrease of 11.7% compared to RMB 5,033.3 million in 2022[5]. - The net loss for the year was RMB 1,524.8 million, a significant reduction of 69.3% compared to a loss of RMB 4,968.5 million in 2022[6][10]. - Basic and diluted loss per share for the year was RMB 70.88, compared to RMB 222.77 in 2022[10]. - Total comprehensive expenses for the year amounted to RMB 1,523.5 million, down from RMB 4,974.6 million in the previous year[10]. - The company reported a net loss attributable to shareholders of RMB 1,239,749,000 for 2023, compared to a net loss of RMB 3,896,299,000 in 2022, reflecting an improvement of approximately 68.2%[45]. - The operating loss for the year ended December 31, 2023, was RMB 1,027.3 million, a decrease from RMB 3,332.5 million for the year ended December 31, 2022, resulting in an operating loss margin of 23.1% compared to 66.2% in the previous year[71]. - The EBITDA loss for the year ended December 31, 2023, was RMB 814.1 million, a significant reduction of 79.6% from RMB 3,998.2 million for the year ended December 31, 2022[71]. Revenue Breakdown - The total Gross Transaction Value (GTV) for real estate agency services was RMB 26.3 billion, while the GTV for real estate brokerage network services was RMB 43.4 billion[5]. - Revenue from primary property agency services decreased by 62.6%, while revenue from real estate data and consulting services decreased by 20.7%[6]. - Revenue from primary real estate agency services decreased to RMB 219,624,000 in 2023 from RMB 586,473,000 in 2022, a decline of approximately 62.6%[20]. - Revenue from real estate data and consulting services totaled RMB 443,908,000 in 2023, down from RMB 559,814,000 in 2022, representing a decrease of about 20.7%[20]. - The real estate brokerage network service segment reported external sales of RMB 1,510,408,000, slightly down from RMB 1,576,598,000 in 2022, a decrease of approximately 4.2%[30][31]. - The digital marketing service segment's external sales amounted to RMB 2,272,499,000, down from RMB 2,310,394,000 in the previous year, representing a decline of about 1.6%[30][31]. Cost Management - The company focused on cost control, resulting in a 60.2% reduction in cash used in operating activities year-on-year[6]. - Employee costs decreased by 44.4% from RMB 1,967.3 million in 2022 to RMB 1,093.2 million in 2023, with the proportion of employee costs to revenue dropping from 39.1% to 24.6%[52]. - Advertising and promotion expenses reduced by 16.3% from RMB 2,374.6 million in 2022 to RMB 1,986.9 million in 2023, mainly due to decreased costs associated with business expansion[53]. - Total employee compensation expenses for the year ended December 31, 2023, amounted to RMB 1,093.2 million, a decrease of 44.4% from RMB 1,967.3 million in the previous year[79]. - The total depreciation and amortization expenses for 2023 were RMB 285,760,000, significantly lower than RMB 537,521,000 in 2022, marking a decrease of about 46.9%[43]. Debt and Financial Position - The company is actively working on restructuring its offshore debt and plans to provide updates to creditors by the end of April 2024[6]. - The net liabilities of the company increased to RMB 6,562,944,000 in 2023 from RMB 5,027,872,000 in 2022, indicating a worsening financial position[13]. - Total current liabilities increased to RMB 9,945,960,000 in 2023 from RMB 10,077,408,000 in 2022, indicating a slight decrease[13]. - The debt-to-capital ratio increased to 145.8% as of December 31, 2023, from 100.6% as of December 31, 2022, reflecting a 45.2 percentage point increase due to a decrease in total assets[75]. - The company is actively negotiating debt restructuring with creditors to improve its financial situation[18]. Market Outlook - The outlook for 2024 remains challenging due to uncertain market sentiment and transaction activity in the real estate sector[7]. - The company anticipates that effective cost control and successful debt restructuring will allow it to benefit from market recovery when it occurs[7]. Other Information - The company has not proposed or declared any dividends for the years ended December 31, 2022, and 2023[44]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[102]. - The company has not been involved in any significant litigation or arbitration as of December 31, 2023[101]. - The company has established an audit committee to review and supervise the financial reporting process and internal control systems[97]. - The company has complied with all applicable provisions of the Corporate Governance Code during the reporting period[90].
易居企业控股(02048) - 2023 - 年度业绩