Financial Performance - Total contract sales reached approximately RMB 116,049 million[2] - Commercial operating revenue was approximately RMB 10,006 million, representing a year-on-year growth of 15.8%[2] - Net profit attributable to equity holders of the company was approximately RMB 280.7 million[2] - Core profit attributable to equity holders was approximately RMB 185.4 million[2] - The net profit for the year ended December 31, 2022, decreased to RMB 742.704 million from RMB 13,360.994 million for the year ended December 31, 2021, representing a decline of approximately 94.4%[9] - The total comprehensive loss for the year amounted to RMB 93.213 million, compared to a total comprehensive income of RMB 14,009.705 million in the previous year[9] - Basic earnings per share attributable to equity holders was RMB 0.04, down from RMB 1.39 in the previous year[8] - The group reported a comprehensive loss attributable to equity holders of the company amounting to RMB 278.181 million for the year[9] - The company's profit attributable to equity holders for the year ended December 31, 2022, was RMB 280,673 thousand, a significant decrease from RMB 8,590,624 thousand in 2021[41] Assets and Liabilities - Total assets amounted to RMB 463,473.9 million, down from RMB 540,108.9 million in the previous year[6] - As of December 31, 2022, the group's current liabilities exceeded its current assets by RMB 11,903.741 million, indicating potential liquidity challenges[13] - The total assets of the A-share company amounted to RMB 457,907,015 thousand, while total liabilities were RMB 368,446,104 thousand[20] - The total amount of borrowings decreased from RMB 67,176,500 thousand in 2021 to RMB 57,496,005 thousand in 2022, a decline of about 14.4%[28] - The total outstanding borrowings of the group amounted to RMB 79,537.6 million, with RMB 714.1 million in interest payable[79] Revenue and Sales - The company's total revenue for the year ended December 31, 2022, was RMB 116,540,630 thousand, a decrease of 31.2% from RMB 169,537,320 thousand in 2021[31] - Revenue from A-share company property sales was RMB 104,882,656 thousand, down 33.5% from RMB 158,118,149 thousand in the previous year[31] - The total revenue from commercial operations reached RMB 10.006 billion in 2022, representing a year-on-year growth of 15.8%[46] - Property sales revenue for the year was approximately RMB 10.488 billion, with a total delivered area of about 13,197,155 square meters, resulting in an average selling price of RMB 7,947 per square meter[59] Costs and Expenses - The total cost of sales and services, selling and marketing expenses, and administrative expenses amounted to RMB 111,354,835 thousand, a decrease of 26.9% from RMB 152,266,285 thousand in 2021[32] - The company recorded a significant reduction in construction costs to RMB 53,324,267 thousand from RMB 76,952,562 thousand in the previous year[32] - The company reported a decrease in employee costs to RMB 5,747,187 thousand from RMB 6,179,061 thousand in 2021[32] - The net financing cost for the group was approximately RMB 3,389.9 million, an increase of RMB 2,547.3 million compared to the previous year, primarily due to increased foreign exchange losses and reduced capitalized interest[75] Market Conditions and Challenges - The group experienced a significant reduction in pre-sale volume and the collection of pre-sale proceeds due to the slowdown in the real estate market in mainland China[13] - The group acknowledges risks related to the fluctuating Chinese real estate market and potential impacts from government economic policies on business performance[61] - The Chinese property market is under pressure from government regulations aimed at controlling growth, which may lead to declining transaction volumes and sales prices[65] - The group faces strong competition in the property market along the Yangtze River Delta and the Suzhou-Nanjing Economic Corridor, with competitors potentially having more financial resources[62] Strategic Initiatives - The group has implemented measures to alleviate liquidity pressure, including improving sales and pre-sale activities to enhance sales volume and accelerate the collection of proceeds[14] - The group is committed to maintaining communication with major contractors and suppliers to ensure orderly project construction and payment arrangements[14] - The group emphasized its commitment to sustainable development and social responsibility, focusing on green and low-carbon development initiatives[48] - The company aims to maintain stable, high-quality, and sustainable growth while enhancing customer experience and creating value for stakeholders[48] Financing Activities - The group successfully issued green bonds totaling USD 100 million and medium-term notes amounting to RMB 4 billion in 2022[47] - The company plans to issue up to 676,686,800 A-shares, expecting to raise no more than RMB 8 billion[102] - The group completed a rights issue on January 27, 2022, raising approximately HKD 1,559.79 million, with a subscription price of HKD 5.30 per share[83] Employee and Corporate Governance - As of December 31, 2022, the group employed 25,941 full-time employees, with 23,437 in real estate development and commercial management, and 2,504 in other businesses[91] - The group recognized share-based compensation expenses of RMB 8.7 million for the year ended December 31, 2022, down from RMB 11.0 million for the year ended December 31, 2021[91] - The audit committee reviewed the accounting principles and policies for the year ended December 31, 2022, along with the consolidated financial statements[103]
新城发展(01030) - 2022 - 年度业绩