Financial Performance - The total revenue for the fiscal year 2023 was RMB 24,932,665, a decrease of 6.3% compared to RMB 26,614,317 in 2022[3]. - The gross profit for 2023 was RMB 4,098,564, representing a gross margin of approximately 16.4%[3]. - The net loss attributable to the owners of the company for 2023 was RMB 1,769,176, compared to a profit of RMB 780,445 in 2022, indicating a significant decline[5]. - The total comprehensive loss for the year was RMB 1,773,887, compared to a comprehensive income of RMB 868,983 in the previous year[5]. - The financing income decreased to RMB 19,399 in 2023 from RMB 57,671 in 2022, reflecting a decline of 66.4%[3]. - The company reported a significant increase in administrative expenses, which rose to RMB 497,769 in 2023 from RMB 621,047 in 2022[3]. - The company reported a net loss before tax of RMB (600,411) thousand in 2023, a significant decline from a profit of RMB 2,269,875 thousand in 2022[59]. - The total income tax expense for the year was RMB 1,168,765 thousand, down from RMB 1,489,430 thousand in the previous year, representing a decrease of approximately 21.5%[59]. - The company’s capitalized interest expense for the year was RMB 100,044 thousand, down from RMB 132,260 thousand in the previous year, reflecting a decrease of approximately 24.3%[52]. - The basic earnings per share for 2023 showed a loss of RMB 1,751,863,000, compared to a profit of RMB 480,904,000 in 2022[66]. Assets and Liabilities - The total assets as of December 31, 2023, were RMB 128,236,470, down from RMB 149,650,517 in 2022[8]. - Total equity as of December 31, 2023, is RMB 20,058,373,000, a decrease of 13.4% from RMB 23,212,387,000 in 2022[9]. - Total liabilities amount to RMB 108,178,097,000, down 14.5% from RMB 126,438,130,000 in the previous year[9]. - Non-current liabilities total RMB 8,631,406,000, an increase of 17.5% compared to RMB 7,349,992,000 in 2022[9]. - Current liabilities are RMB 99,546,691,000, a decrease of 16.4% from RMB 119,088,138,000 in 2022[9]. - The net amount of current assets is RMB 9,074,217,000, slightly down from RMB 9,094,847,000 in the previous year[9]. - The total assets less current liabilities stand at RMB 28,689,779,000, down from RMB 30,562,379,000 in 2022[9]. - The company’s total equity attributable to owners decreased from RMB 14,002,044,000 in 2022 to RMB 12,296,908,000 in 2023[9]. - The company has a land reserve of approximately 19,000,000 square meters as of December 31, 2023, concentrated in core cities, sufficient to support future development needs[99]. - The net debt ratio is approximately 58%, up from 48% as of December 31, 2022[117]. Cash Flow and Liquidity - The company’s cash and cash equivalents decreased to RMB 3,011,771 in 2023 from RMB 1,717,941 in 2022[8]. - The group has interest-bearing loans amounting to RMB 7,500,000,000, which are due within one year after the reporting period[26]. - The group's bank balances and cash total RMB 1,718,000,000, while there are still outstanding interest-bearing loans of RMB 1,709,000,000 that have not been repaid according to the repayment schedule[26]. - The group has been negotiating with relevant banks to extend the repayment dates of these loans, indicating potential liquidity pressures[26]. - The group faces operational and liquidity pressures, and without measures to improve cash flow, it may not have sufficient working capital to continue operations[27]. - The management has implemented various plans and measures to alleviate cash flow pressure, but there is substantial uncertainty regarding their effectiveness due to volatility in the real estate sector in the People's Republic of China[133]. - The group has obtained a loan amount of RMB 250,000,000 from banks to alleviate liquidity pressure[28]. - The group has not repaid RMB 1,709,000,000 of its interest-bearing loans by the scheduled repayment date, indicating significant liquidity pressure[133]. Market and Operational Strategy - The company plans to focus on market expansion and new product development in the upcoming fiscal year[3]. - The company plans to focus on optimizing existing assets and enhancing marketing strategies to improve operational efficiency[80]. - The company aims to strengthen product competitiveness and enhance brand promotion in a challenging market environment[91]. - The company is actively expanding its commercial operations, with the opening of new projects such as the Nanning ASEAN Colorful Street[95]. - The company has focused on optimizing existing assets and enhancing project quality to boost customer confidence[91]. - The company has implemented a "1+2+4" delivery management system to enhance delivery standards and customer trust[90]. - The company anticipates that refinancing of several similar loans will be completed in the short term[26]. Real Estate Market Conditions - The real estate market in China faced significant challenges in 2023, with a 9.6% year-on-year decline in real estate development investment[76]. - The government has implemented policies to stabilize the real estate market, including lowering down payments and interest rates[78]. - The management acknowledges significant uncertainty regarding the implementation of plans and measures due to volatility in the Chinese real estate industry[30]. Awards and Recognition - The company received 19 industry awards in 2023, including 5 international awards and 14 domestic awards[81]. Accounting and Compliance - The company has implemented new and revised International Financial Reporting Standards (IFRS) with no significant impact on financial position or performance[13]. - The independent auditor has issued an unqualified opinion on the consolidated financial statements, affirming compliance with International Financial Reporting Standards[132].
绿地香港(00337) - 2023 - 年度业绩