Financial Performance - Total revenue for the year ended December 31, 2022, was RMB 46.127 billion, a decrease of 28% compared to RMB 64.247 billion in 2021[7]. - Gross profit for the same period was RMB 2.377 billion, down 79% year-on-year, with a gross margin of 5% (compared to 18% in 2021) [3]. - The company reported a net loss attributable to shareholders of RMB 15.930 billion, with a basic and diluted loss per share of RMB 2.092[2]. - The company reported a total comprehensive loss for the year of RMB (21,836,074), compared to a comprehensive income of RMB 5,056,700 in 2021[43]. - The company reported a net loss of RMB 13,024,456,000 for the year ended December 31, 2022, compared to a profit of RMB 9,797,114,000 in 2021, indicating a significant decline in performance[56]. - The company reported a basic loss per share of RMB (2.092) for the year ended December 31, 2022, compared to earnings of RMB 0.358 in 2021[41]. - The company reported a net loss attributable to shareholders of RMB 15,930,209 thousand for the year ended December 31, 2022, compared to a profit of RMB 2,729,143 thousand for the year ended December 31, 2021[77]. Market Conditions - The real estate market in China saw a 26.7% decline in total commodity housing sales in 2022, influenced by factors such as the pandemic and declining customer sentiment[4]. - The company anticipates that the government will gradually introduce more supportive policies for the real estate sector in 2023, aiming to stabilize economic growth[5]. - The company expects a gradual recovery in customer sentiment and market conditions as the Chinese economy stabilizes[5]. - The real estate market in China is projected to maintain a scale of RMB 10 trillion, with a shift towards service-oriented and sustainable business models in the long term[6]. Revenue Breakdown - Property development remains the largest contributor to revenue, accounting for approximately 80% of total revenue in 2022[7]. - The revenue from property development decreased by 33% to RMB 37.132 billion in 2022, compared to RMB 55.130 billion in 2021[20]. - The total contracted sales amount fell to RMB 100.29 billion in 2022, a decrease of approximately 26% from RMB 136.26 billion in 2021[23]. - The average recognized sales price per square meter dropped to approximately RMB 13,400 in 2022, down from RMB 19,500 in 2021[20]. Financial Position - As of December 31, 2022, the total cash resources amounted to RMB 9.386 billion, with approximately 99% in RMB, and a current ratio of 1.40[18]. - The net debt-to-equity ratio increased to approximately 183% as of December 31, 2022, up from 85% in 2021, primarily due to a downturn in the domestic real estate market[18]. - The total loan amount as of December 31, 2022, was RMB 9.7023 billion, with 39% maturing within one year[19]. - The company's cash and cash equivalents dropped from RMB 21,655,471 thousand in 2021 to RMB 4,623,126 thousand in 2022, a decrease of around 78.7%[45]. - The total equity attributable to owners of the company decreased from RMB 76,447,369 thousand in 2021 to RMB 47,885,986 thousand in 2022, a decline of approximately 37.4%[45]. Impairment and Losses - Financial asset impairment losses surged to RMB 5.155 billion, up from RMB 177 million in 2021, driven by adverse macroeconomic conditions and industry downturns[14]. - The company recorded a net loss of RMB 2.689 billion in other losses, primarily due to significant foreign exchange losses of RMB 1.178 billion resulting from the depreciation of the RMB against the USD[11]. - The impairment loss on financial assets significantly increased to RMB 5,154,805 thousand in 2022 from RMB 177,476 thousand in 2021, marking a rise of approximately 2800%[71]. Strategic Focus - The company plans to focus on core business operations and exit unrelated business areas to enhance operational efficiency and risk management[6]. - The company plans to actively manage debt and enhance liquidity in response to the challenging real estate financing environment[18]. - The company plans to focus on improving shareholder returns as a key operational goal moving forward[17]. - The company aims to improve its market position through new product development and technology advancements in the real estate sector[37]. Acquisitions and Investments - The company completed the acquisition of Shandong Detech Real Estate Co., Ltd. for a total price of RMB 1,584,414,201, which includes a loan of RMB 1,584,414,200[39]. - The company engaged in sale and leaseback arrangements with a total maximum purchase price of RMB 850 million for various leasing assets, with lease payments totaling approximately RMB 966.89 million[40]. Operational Metrics - The total area of contracted sales decreased by 20% to approximately 6,154,000 square meters in 2022[23]. - The average land cost for property development dropped from approximately RMB 8,300 per square meter in 2021 to RMB 5,700 per square meter in 2022, primarily due to more projects in second-tier cities being completed[9]. - The total completed floor area and total sellable floor area for the group in 2022 were approximately 6,217,700 square meters and 4,289,600 square meters, representing decreases of 33% and 36% respectively compared to 2021[26]. Governance and Compliance - The auditor's report for the year ending December 31, 2022, included a qualified opinion, indicating concerns about the group's financial situation[50]. - The company has not adopted several new accounting standards and interpretations that have been issued but are not mandatory, which are not expected to have a significant impact on current or future reporting periods[52]. - The company acknowledges the support from shareholders, investors, local governments, partners, and employees in its annual performance announcement[99].
远洋集团(03377) - 2022 - 年度业绩