Financial Performance - Total revenue for 2023 was RMB 2,506.3 million, a decrease of 35.8% compared to RMB 3,904.7 million in 2022[10]. - The gross loss for the year was RMB 50.3 million, compared to a gross profit of RMB 113.5 million in the previous year[11]. - The net loss attributable to the owners of the company for the year was RMB 593.5 million, a reduction from RMB 995.3 million in 2022[15]. - Basic and diluted loss per share for 2023 was RMB 0.13, compared to RMB 0.21 in 2022[17]. - The group experienced a loss of RMB 454,651 thousand for the year ended December 31, 2023, compared to a loss of RMB 224,458 thousand in the previous year, indicating a worsening financial performance[71][73]. - The total comprehensive loss for the year ended December 31, 2023, was RMB 593.5 million, compared to RMB 995.3 million for the previous year[174]. Revenue Breakdown - Revenue from property development was RMB 2,040.4 million, impacted by market sentiment in the rental market[5]. - The revenue from property development was RMB 2,040,432 thousand, while property management and related services generated RMB 93,988 thousand, and rental income contributed RMB 333,336 thousand[60][71]. - The total rental income for the reporting period was RMB 333.3 million, expected to grow steadily due to economic recovery and increased consumer spending[134]. - Revenue from the sale of subsidiaries was RMB 145,904 thousand in 2023, with no comparable figure for 2022[80]. Assets and Liabilities - Total assets as of December 31, 2023, were RMB 29,719.6 million, down from RMB 31,223.2 million in 2022[26]. - The total equity attributable to owners of the company was RMB 11,169.1 million, compared to RMB 11,733.1 million in the previous year[36]. - As of December 31, 2023, the company's total bank and other borrowings amounted to approximately RMB 8,002,459,000, with cash and cash equivalents of only about RMB 74,697,000[53]. - The company's current assets include development properties and properties held for sale totaling approximately RMB 22,182,150,000, with about RMB 5,020,620,000 expected to be unrealizable within 12 months after the reporting period[53]. - The average credit period for accounts payable is 180 days, with accounts payable amounting to RMB 2,594.993 million, an increase from RMB 2,375.998 million in the previous year[121][116]. Investment and Development - As of December 31, 2023, the total land reserve reached 6,628,038 square meters, with 61% of the saleable value located in Beijing[5]. - The company holds nine investment properties in core locations of first-tier cities, with a total planned construction area of approximately 763,478 square meters[135]. - The group plans to continue investing in property development projects and acquiring suitable land parcels in selected cities, with internal resources and bank loans expected to meet funding needs[181]. - The group is focusing on strategic land development projects, including urban renewal and "three old renovation" policies in cities like Beijing and Shenzhen[158]. Cost Management and Financial Strategy - Cost control measures have been implemented to manage sales, service costs, and administrative expenses[56]. - The company has implemented strategies to reduce debt and improve liquidity, including asset disposal and debt restructuring[132]. - The group plans to enhance product structure and quality to attract more customers while improving sales collection efforts[151]. - The board believes that the group will have sufficient working capital to meet its operational and overdue financing needs[197]. Corporate Governance - The company has appointed Chen Jinrong and Deng Zhidong as independent directors on January 29, 2024[188]. - The audit committee was restructured following the resignation of independent directors, now consisting of independent non-executive directors[193]. - The company continues to review and strengthen its corporate governance practices to ensure compliance with the corporate governance code[190].
国瑞健康(02329) - 2023 - 年度业绩