Financial Performance - For the year ended December 31, 2023, the revenue was HK$12,630,739,000, an increase of 25.5% compared to HK$10,064,529,000 in 2022[15] - The basic loss per share attributable to equity holders of the Company was HK(30.34) cents, a decrease of 25.5% from HK(40.71) cents in 2022[15] - The core loss attributable to equity holders of the Company for the year was HK$43,566,000, compared to a profit of HK$106,719,000 in 2022[15] - Operating profit for 2023 was HK$592,573, a significant recovery from an operating loss of HK$414,827 in 2022[20] - The profit before tax for 2023 was HK$123,563, compared to a loss before tax of HK$1,022,757 in 2022[20] - The net loss for the year decreased by 61.3% to HK$526 million, compared to HK$1,360 million in 2022[57] - Loss attributable to equity holders of the Company decreased by 25.4% to HK$1,016 million, down from HK$1,362 million in 2022[57] Assets and Liabilities - Total assets as of December 31, 2023, were HK$525,686,000, a decrease from HK$1,360,224,000 in 2022[15] - The total assets decreased to HK$53,575,153 in 2023 from HK$67,387,025 in 2022, representing a decline of 20.5%[20] - Non-current liabilities decreased to HK$8,530,242 in 2023 from HK$17,753,100 in 2022, a reduction of 52.0%[20] - The total equity decreased to HK$14,347,645 in 2023 from HK$16,812,098 in 2022, a decline of 14.6%[20] - The Group's total borrowings amounted to HK$23,317 million (2022: HK$24,309 million), with a weighted average borrowing cost increase of 0.9 percentage points to 5.0% (2022: 4.1%) due to loan repayments[155] Debt and Financing - Net debt increased by 24.7% to HK$19,802 million from HK$15,883 million in 2022[15] - The net gearing ratio rose to 138.0% in 2023, up from 94.5% in 2022, reflecting a 43.5% increase[15] - The Group secured an offshore three-year club loan of HK$970 million and a one-year revolving loan facility of RMB 1 billion to safeguard financial stability[69] - The Group successfully issued RMB 1.2 billion of unguaranteed bonds to optimize its debt structure[69] - The Group's finance costs increased to HK$477,416 in 2023 from HK$138,144 in 2022, marking a rise of 245.5%[20] Real Estate Development - The Company is focused on expanding its real estate development business across key regions including the Pan Bohai Rim and the Yangtze River Delta[5] - The Group's land bank totals 6,667,000 sq.m., with the Pan Bohai Rim region accounting for 32.7% of this total[24] - Contracted sales for the year reached RMB11.30 billion, with a gross profit margin increase of 5.6 percentage points year-on-year[62] - Revenue from the real estate development business increased by 24.6% year-on-year to HK$12,308 million, accounting for 97.4% of the Group's total revenue[116] - The gross profit margin for the real estate development business rose by 5.6 percentage points to 17.5% in 2023, compared to 11.9% in 2022[116] Project Developments - The expected construction completion date for the Neo-Metropolis project in Tianjin is set for Q2 2030[29] - The company has completed several residential projects, including Academic Royale with a construction floor area of approximately 482,000 square meters and a site area of about 136,000 square meters[31] - The LOHAS International Community project has a significant construction floor area of approximately 1,084,000 square meters, completed with 100% interest[36] - The Changsha Minmetals Plaza project adopted over 30 energy-saving measures, achieving an annual carbon reduction of 1,307 tons[74] Corporate Governance - The company has established a corporate governance framework to guide, strategize, monitor performance, and manage risks[180] - The board consists of nine members, ensuring compliance with the requirement of having at least three Independent Non-executive Directors[188] - The company has mechanisms in place for directors to seek independent professional advice at the company's expense[198] - The company emphasizes high-quality and reliable products and services through innovation and sustainable development[182] - The company acknowledges the collective and individual responsibilities of directors to act in the best interests of the company[191]
五矿地产(00230) - 2023 - 年度财报