Financial Performance - For the year ended December 31, 2023, revenue was approximately RMB 19.26 billion, a decrease of about 20.0% compared to 2022[3]. - The annual gross profit margin was 10.2%, an increase of 2.3 percentage points from 2022[3]. - The annual loss was approximately RMB 3.10 billion, compared to a loss of RMB 7.82 billion in 2022[3]. - The loss attributable to equity holders of the company was approximately RMB 3.26 billion, down from RMB 7.56 billion in 2022[5]. - Basic loss per share for the year was RMB 1.11, compared to RMB 2.60 in 2022[5]. - The group reported a net loss before tax of RMB 353,363 thousand, compared to a net loss of RMB 1,065,647 thousand in 2022[28]. - The group recognized a total of RMB 1,243,638 thousand in current tax expenses, an increase of 23.0% from RMB 1,010,630 thousand in 2022[36]. - The annual loss for 2023 was approximately RMB 3.10 billion, a substantial improvement from a loss of approximately RMB 7.82 billion in 2022[73]. - The net loss attributable to equity holders was RMB 3,264,341,000 in 2023, a reduction of 56.8% from RMB 7,561,017,000 in 2022[53]. Assets and Liabilities - Total assets less current liabilities amounted to RMB 4.03 billion, a decrease from RMB 15.70 billion in 2022[8]. - Non-current assets totaled RMB 19.61 billion, down from RMB 20.27 billion in 2022[8]. - As of December 31, 2023, the company's current liabilities and total liabilities were approximately RMB 15,580 million and RMB 673 million, respectively[15]. - The total amount of bank and other loans and offshore senior notes was approximately RMB 23,511 million, with RMB 6,214 million and RMB 13,865 million maturing within the next twelve months[15]. - Total liabilities decreased by 13.0% to RMB 117,959,140,000 in 2023 from RMB 135,628,918,000 in 2022[55]. - The total net borrowings as of December 31, 2023, were approximately RMB 21.37 billion, an increase from RMB 19.31 billion in 2022, with a net gearing ratio of -3,176.3% compared to 580.2% in 2022[62]. Cash Flow and Financing - The company’s cash and cash equivalents decreased to RMB 388.17 million from RMB 1.89 billion in 2022[8]. - The company reported a net loss of approximately RMB 3,103 million for the year ended December 31, 2023, along with negative operating cash flow[15]. - The company announced a debt restructuring plan to ensure sufficient financial resources to meet its obligations, including seeking an overall solution for offshore debt issues[18]. - The company is actively seeking additional financing to fulfill its existing financial commitments and future operating expenses[19]. - Financing costs decreased by 7.5% to approximately RMB 971 million in 2023, primarily due to a reduction in borrowing interest[71]. Revenue Breakdown - Revenue from property sales was RMB 18,271,775 thousand, down 22.3% from RMB 23,466,781 thousand in the previous year[24]. - Revenue from hotel operations increased to RMB 357,449 thousand, up 54.4% from RMB 231,521 thousand in 2022[24]. - Other income increased to RMB 190,203 thousand, up 56.6% from RMB 121,455 thousand in the previous year[28]. - The company's revenue decreased by 20.0% from approximately RMB 24.08 billion in 2022 to approximately RMB 19.26 billion in 2023, primarily due to the downturn in the macroeconomic and real estate markets[65]. Market and Sales Performance - The total property contract sales for the year 2023 amounted to RMB 14.69 billion, a decrease of approximately 38.9% compared to RMB 24.05 billion in 2022[62]. - Revenue from property sales decreased by 22.1% to approximately RMB 18.27 billion in 2023, with the area delivered dropping by 29.9% to approximately 2.49 million square meters[66]. - The real estate market in China saw a decline in sales area by 11.2% year-on-year, totaling 111.735 million square meters in 2023, indicating ongoing market adjustments[86]. - The company reported a significant decline in sales in several cities, with Luoyang down 48% and Pingdingshan down 61% year-on-year[91]. Operational Strategy - The company plans to accelerate the pre-sale and sale of its properties under development and completed properties to improve cash flow[19]. - The company will not undertake significant capital expenditures or land acquisitions until necessary funding is secured[19]. - The company is focusing on core urban areas for market transactions, as overall market confidence remains to be boosted[88]. - The company aims to maintain a safe and reasonable inventory structure while adapting to the current market environment[93]. Project Development - The company has signed commitments for property development amounting to approximately RMB 6.83 billion as of December 31, 2023, significantly up from RMB 1.18 billion in 2022[81]. - The company has multiple residential projects under construction in various cities, with a total area of 4,000,000 square meters across 40 projects[98]. - The company delivered a total of 72 projects with a construction area of approximately 5.84 million square meters for the year ending December 31, 2023[104]. - The company is actively pursuing new strategies for market expansion, with ongoing projects in emerging urban areas[100]. Sustainability and Innovation - The company is committed to sustainable development practices in its new projects, aiming for a 20% reduction in carbon footprint by 2025[106]. - The company has implemented a comprehensive waste reduction strategy, transitioning to centralized design and procurement to lower material waste and emissions[178]. - The company has established a green building management framework, aligning with national standards to enhance energy efficiency and environmental benefits[176]. - The company has adopted prefabricated BIM technology in its residential industrialization efforts, ensuring product quality through assembly construction[173]. Customer Engagement - The company is committed to customer service improvements, including regular owner meetings and rapid response to complaints, to maintain customer satisfaction and trust[183]. - The company is focusing on customized housing solutions to meet evolving consumer demands, emphasizing personalized design and service[175].
建业地产(00832) - 2023 - 年度业绩