SPG(SZ:000029)2024-03-29 16:00Financial Performance - The net profit attributable to shareholders for the current period is -250,839,542.09 CNY, compared to 153,718,805.57 CNY in the previous period, indicating a significant decline[70]. - The total net assets attributable to shareholders at the end of the period stand at 3,691,082,484.20 CNY, down from 4,004,240,547.70 CNY at the beginning of the period[70]. - The company's operating revenue for 2023 was ¥530,887,720.68, a decrease of 16.31% compared to ¥634,384,561.42 in 2022[90]. - The net profit attributable to shareholders for 2023 was -¥250,839,542.09, representing a decline of 263.18% from a profit of ¥153,718,805.57 in 2022[90]. - The basic earnings per share for 2023 was -¥0.2479, down 263.20% from ¥0.1519 in 2022[90]. - The company reported government subsidies recognized in the current period amounting to 440,049.96 CNY, compared to 559,803.19 CNY in the previous year[72]. - The company has no significant differences in net profit and net assets between domestic and international accounting standards[70]. - The company’s financial statements have been audited and are reported to fairly reflect its financial position as of December 31, 2023[29]. Shareholder Information - The top ten shareholders include Shenzhen Investment Holdings Co., Ltd. with 564,353,838 shares and Shenzhen State-owned Equity Management Co., Ltd. with 64,288,426 shares[12]. - There were no changes in the top ten shareholders compared to the previous period[13]. - The controlling shareholder is Shenzhen Investment Holdings Co., Ltd., holding a total of 30,141 million shares, representing 50.57% of the total shares[14]. - The company has a total of 11,136,977 shares held by individual shareholder Yang Jianmin, representing 1.10% of the total shares[19]. Revenue and Income - Total revenue for 2023 was ¥530,887,720.68, a decrease of 16.31% compared to ¥634,384,561.42 in 2022[105]. - Real estate segment revenue dropped by 61.67% to ¥118,580,624.34, accounting for 22.34% of total revenue[105]. - Engineering construction revenue increased by 36.84% to ¥324,243,778.50, representing 61.08% of total revenue[105]. - Property management revenue fell by 89.67% to ¥3,491,329.17, only 0.66% of total revenue[105]. - The company’s main operating revenue decreased by 16.66% to ¥524,099,615.63, accounting for 98.72% of total revenue[105]. - The company achieved a total sales revenue of approximately ¥118.58 million in the real estate sector, reflecting a decrease of 61.67% compared to the previous year[124]. Cash Flow and Assets - The cash flow from operating activities for 2023 was ¥1,045,037,248.19, a significant increase of 254.64% compared to -¥675,775,998.76 in 2022[90]. - Cash and cash equivalents increased by ¥668,781,343.87, compared to a decrease of ¥421,928,565.67 in the previous year, reflecting a 258.51% improvement[130]. - Total assets at the end of 2023 amounted to ¥6,485,312,507.46, an increase of 13.98% from ¥5,689,769,802.18 at the end of 2022[90]. - The financing balance at the end of the period was ¥21,343.43 million, with an average financing cost range of 3.7%-4.2%[98]. - Total monetary funds at year-end reached ¥871,019,268.83, representing 13.43% of total assets, up from 3.47% at the beginning of the year[131]. Strategic Initiatives - The company plans to expand its market presence and is focusing on strategic investments in emerging industries[14]. - The company is actively involved in mergers and acquisitions to enhance its market position and operational capabilities[14]. - The company plans to focus on project construction and real estate sales, while actively exploring new land expansion strategies[168]. - The company aims to enhance its value creation capabilities by optimizing development methods and innovating operational models[168]. - The company is committed to exploring quality investment opportunities while aligning with national strategic policies[169]. Operational Challenges - The company anticipates challenges in the real estate market due to geopolitical tensions and a slowdown in global economic growth[96]. - The overall economic growth momentum for 2024 is expected to be insufficient, with increased complexity and uncertainty in the external environment[163]. - The company is facing potential risks in the real estate sector despite improvements in financing conditions and expected policy easing[187]. Project Developments - The company has ongoing projects in Shenzhen, Huizhou, and Shantou, with significant developments in residential real estate[96]. - The company successfully sold all units of the "Shenfang Guangmingli" project on the opening day, exceeding the annual sales target[120]. - The total area sold in the "Tianyue Bay Phase II" project reached 9,159 square meters, generating sales revenue of ¥5.22 million[120]. - The company’s project, Shenfang Guangmingli, obtained a pre-sale permit on September 22, 2023, and opened for sale on September 28, 2023[184]. Risk Management - The company is actively monitoring market changes to adjust project risk mitigation strategies and accelerate risk resolution processes[189]. - The company is implementing safety management systems to prevent safety risks and enhance compliance management to safeguard against systemic risks[189].