VANKE(HK:02202)2023-03-30 14:14Dividend and Profit Distribution - The total cash dividend proposed for 2022 is RMB 8,063,272,365.72, accounting for 35.65% of the net profit attributable to shareholders [2]. - The total cash dividend, including share repurchase, will amount to RMB 9,354,814,299.04, representing 41.36% of the net profit attributable to shareholders [2]. - The company repurchased 72,955,992 A-shares at a cost of RMB 1,291,541,933.32, which is treated as part of the cash dividend for 2022 [2]. - The total number of shares for dividend calculation is 11,857,753,479, excluding treasury shares [2]. Financial Reporting and Audit - The financial report has been audited by KPMG and received a standard unqualified opinion [2]. - The board of directors guarantees the truthfulness, accuracy, and completeness of the financial report, with no false records or major omissions [2]. - The financial report is prepared in accordance with International Financial Reporting Standards, with the English version being authoritative in case of discrepancies [3]. Company Performance and Growth - In 2022, the company achieved an operating revenue growth of 11.3% year-on-year, reaching a total of 512.6 billion RMB [9]. - Net profit increased by 0.4% year-on-year, indicating resilience amidst a challenging market environment [9]. - The company delivered over 340,000 new homes, reinforcing consumer trust in the brand [9]. - The total investment in new projects amounted to 49.6 billion RMB, with a nearly 90% realization rate for invested projects [9]. - The company's comprehensive service business generated a revenue of 51.26 billion RMB, reflecting a year-on-year growth of 23.1% [11]. - The revenue from Wanwu Cloud surpassed 30 billion RMB, marking a successful spin-off listing [11]. - Logistics business revenue grew by 17.9% year-on-year, showcasing operational efficiency [11]. - The long-term rental apartment business maintained its industry-leading position, managing 215,000 rental units, including 59,000 affordable housing units [11]. Market Challenges and Risks - Sales amount and gross profit levels experienced a decline, posing challenges for future performance [11]. - The company emphasizes the importance of understanding the difference between plans, forecasts, and commitments, urging investors to be aware of risks [3]. - The report details the main risks faced by the group and the corresponding countermeasures [3]. - The company recognizes the shift towards rational housing demand and the need for improved product quality and services in a competitive market [12]. Debt Management and Financial Health - The company optimized its debt structure, increasing the proportion of long-term liabilities and reducing new financing costs [9]. - The company's total assets at the end of 2022 were RMB 1.42 trillion, while total liabilities were RMB 1.08 trillion, resulting in a debt-to-asset ratio of 76.95% [24]. - The net debt ratio increased to 43.68%, up by 13.99 percentage points from 29.69% in the previous year [24]. - The company continues to optimize its debt structure, increasing the proportion of long-term debt to 79.5%, with an average cost of new financing at 3.88% [28]. - The company reported a significant decrease in cash flow from operating activities by 33.13% to RMB 2.75 billion, down from RMB 4.11 billion in 2021 [23]. Strategic Focus and Future Plans - The company aims to maintain high-quality investments, prioritizing projects with stable markets and high safety margins [14]. - The company is focusing on enhancing operational management levels to promote future development through high-quality services [14]. - The company is actively expanding into logistics, long-term rental apartments, and commercial sectors to solidify its leading position in these areas [14]. - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth [23]. - The company aims to enhance operational efficiency by improving resource conversion and optimizing production capacity, focusing on professional collaboration and development efficiency to contribute more positive cash flow and restore profitability [89]. Urban Development and Real Estate Projects - The company emphasizes the importance of urban renewal and effective utilization of existing real estate assets in response to changing consumption habits [12]. - The company has established a comprehensive real estate layout and has begun to develop professional capabilities to address large and complex projects [13]. - The company is committed to long-term operational services in real estate, which are expected to contribute directly to urban economic growth [12]. - The company has a total planned construction area of 4,000,000 square meters for 2023, with 2,000,000 square meters expected to be completed by the end of the year [95]. - The company is focusing on expanding its market presence in the Beijing and Tangshan regions with multiple ongoing projects [96]. Technology and Innovation - The company developed over 80 algorithms to enhance data intelligence applications, improving operational efficiency and management levels [64]. - The company is investing in new technology for project management, aiming to improve efficiency by 15% in the upcoming year [115]. - The company plans to enhance its asset quality and explore innovative tools such as REITs to improve operational returns on various projects [88]. Customer Engagement and Service Excellence - The company is focusing on creating a positive reputation through service excellence and improving operational returns [14]. - The company's online platform registered 2.7 million users, marking a 42% year-on-year increase [56]. - The online customer service tool "Easy Selection" attracted 157 million visits in 2022, enhancing digital marketing capabilities [65].