Financial Performance - For the year ended December 31, 2023, the group reported a gross profit of RMB 757.1 million, a decrease of 27.4% compared to RMB 1,043.2 million in 2022, resulting in a gross margin decline from approximately 33.1% to about 26.6%, a drop of 6.5 percentage points [20]. - Revenue for the year ended December 31, 2023, was RMB 2,844.7 million, a decrease of 9.6% compared to 2022 [36]. - Net loss for the year was RMB 577.9 million, compared to a net profit of RMB 571.2 million in 2022, resulting in a net loss margin of 20.3% [36]. - Loss attributable to shareholders for the year was RMB 574.4 million, while in 2022, profit attributable to shareholders was RMB 562.3 million [36]. - The total comprehensive income for the year was RMB (576.1) million, compared to RMB 605.9 million in 2022 [38]. - The company's loss before tax for the year ended December 31, 2023, was RMB 696,175 thousand, compared to a profit of RMB 759,180 thousand in 2022, indicating a significant decline in performance [55]. - The company reported a decrease in retained earnings to RMB 1,084,638 thousand in 2023 from RMB 1,693,148 thousand in 2022, a drop of about 36.0% [64]. - The company’s total liabilities increased to RMB 2,688,729 thousand in 2023 from RMB 2,275,689 thousand in 2022, marking an increase of about 18.2% [64]. - The company’s total assets decreased to RMB 4,851,078 thousand in 2023 from RMB 5,334,808 thousand in 2022, a reduction of approximately 9.0% [64]. Shareholder Information - The board of directors does not recommend the declaration of a final dividend for the year [36]. - The company declared an interim dividend of HKD 0.0871 per ordinary share, amounting to approximately HKD 113,275,000 (equivalent to RMB 103,089,000) for the six months ending June 30, 2023 [81]. - The company distributed dividends totaling RMB 326,261,000 to shareholders in 2023, down from RMB 604,217,000 in 2022 [91]. - The company has maintained a 5% withholding tax rate on dividends declared from profits earned after January 1, 2008, due to compliance with tax treaty arrangements between China and Hong Kong [75]. Asset Management - As of December 31, 2023, the total area under management was 181.8 million square meters, an increase of 25.1 million square meters or 16.0% from the previous year [8]. - The total constructed area was 181.8 million square meters, and the contracted construction area reached 288.3 million square meters, representing growth of 16.0% and 6.2% respectively compared to December 31, 2022 [36]. - The total net book value of goodwill as of December 31, 2023, was RMB 114,589 thousand, unchanged from the previous year [61]. - The total net book value of customer relationships as of December 31, 2023, was RMB 104,831 thousand, down from RMB 119,778 thousand in 2022, indicating a decrease in this asset category [61]. - The total net book value of property, plant, and equipment was RMB 52,419,000, a decrease from RMB 51,022,000 at the end of 2022 [82]. Operational Highlights - The group managed over 1,066 properties, serving more than 2.6 million owners and residents across 18 cities in Henan Province and seven other provinces [17]. - The average property management fee for residential projects slightly increased to approximately RMB 1.74 per square meter per month, compared to RMB 1.72 per square meter per month in 2022 [8]. - Property management service revenue reached RMB 1,992.2 million, an increase of 16.0% from RMB 1,717.4 million in 2022 [163]. - Community value-added service revenue decreased by 10.8% to RMB 658.9 million, down from RMB 738.6 million in 2022, primarily due to weak real estate sales [165]. - Non-owner value-added service revenue fell by 72.0% to RMB 193.5 million, compared to RMB 692.2 million in 2022, reflecting a strategic adjustment in focus [166]. Financial Liabilities - The group’s trade and other payables amounted to RMB 1,384.3 million, an increase from RMB 1,245.2 million in the previous year [6]. - The trade and other payables as of December 31, 2023, were RMB 604,666 thousand, compared to RMB 576,806 thousand in 2022 [124]. - Borrowings decreased by 29.7% to RMB 52.0 million as of December 31, 2023, down from RMB 74.0 million in 2022 [180]. Employee and Operational Strategy - The company’s employee benefit expenses were RMB 548,091 thousand in 2023, down from RMB 645,373 thousand in 2022, a decrease of approximately 15.1% [73]. - The company has implemented several stock option and share incentive plans to motivate and reward employees [189]. - The company emphasizes professional ethics and work capability as core standards for employee selection and recruitment [190]. - The company is committed to enhancing its internal training system and supports employees in continuing education for comprehensive growth and development [190]. - The company plans to focus on enhancing life services and expanding service categories in 2024 [129]. Future Outlook - The company plans to focus on expanding its property management services and enhancing community value-added services in the Chinese market [66]. - The company aims to leverage new technologies in its service offerings to improve operational efficiency and customer satisfaction [66]. - The company plans to enhance regional market competitiveness by improving service quality and establishing strong customer relationships in 2024 [159]. - The company aims to optimize loss-making projects while maintaining a core focus on improving project profit margins [130]. - The company has adopted a cautious development approach in business expansion due to challenges from the pandemic and real estate fluctuations [183].
建业新生活(09983) - 2023 - 年度业绩