天安(00028) - 2023 - 年度财报

Financial Performance - The Group's revenue for the year ended December 31, 2023, was HK$2,782.1 million, a decrease of 45% compared to HK$5,087.0 million in 2022[7]. - Profit attributable to owners of the Company amounted to HK$1,217.4 million, representing a decrease of 20% from HK$1,528.6 million in 2022[7]. - A decrease in revenue from sales of completed properties was HK$2,883.2 million, primarily due to no new major development projects completed and handed over to customers[7]. - Earnings per share amounted to HK$0.83, down from HK$1.04 in 2022, while the net asset value per share was HK$18.57 at the end of 2023[7]. - The Group's property development revenue decreased from HK$4,413.3 million in 2022 to HK$1,530.1 million in 2023[35]. - The Group's investment in the joint venture, Tian An Digital City (Group) Limited, is valued at approximately HK$3,041.4 million, representing 5.7% of the Group's total assets[53]. - The profit attributable to owners of Tian An Digital City (Group) Limited for the year is approximately HK$644.2 million, a decrease from HK$1,200.7 million in 2022[54]. Dividends and Shareholder Returns - The Board declared an interim dividend of HK$0.20 per share for the year ended December 31, 2023, compared to HK$0.25 per share in 2022[8]. - The Board has adopted a Dividend Policy aimed at providing reasonable and sustainable returns to Shareholders while maintaining financial stability to seize investment and expansion opportunities[188]. - The Board may declare or propose dividends based on the Company's operating results, accumulated and future earnings, liquidity position, and external economic factors[188]. Property Development and Projects - Total attributable registered sales for 2023 amounted to 336,200 m², a decrease of 31% compared to 2022 (488,600 m²)[15]. - Total attributable gross floor area completed in 2023 was approximately 655,700 m², down 24% from 2022 (860,000 m²)[15]. - Total attributable gross floor area under construction at year-end 2023 was approximately 1,515,400 m², representing a 4% increase from 2022 (1,463,000 m²)[15]. - The entire Phase 2 of Tian An Cloud Park in Shenzhen, comprising a gross floor area of approximately 599,400 m², is now completed and ready for sale or lease[15]. - Phase 3 of Tian An Cloud Park, with a gross floor area of approximately 1,111,900 m², is expected to be completed in 2027 and 2028[15]. - The Group's properties under development include approximately 1,902,900 m² of commercial space and 2,450,200 m² of residential space, totaling 4,353,100 m²[47]. Financial Position and Liquidity - As of December 31, 2023, the Group's total bank balances and cash reserves were approximately HK$9,056.9 million, a slight decrease from HK$9,127.4 million in 2022[49]. - The total borrowings of the Group amounted to approximately HK$9,114.4 million, up from HK$6,603.5 million in 2022, with current liabilities at HK$3,815.2 million and non-current liabilities at HK$5,299.2 million[49]. - The Group's gearing ratio was positive at 0.2% as of December 31, 2023, compared to a negative 9.2% in 2022[49]. - Approximately 46% of the Group's outstanding borrowings are due within two years, with most borrowings denominated in RMB[49]. Corporate Governance - The board consists of eleven directors, including four executive directors, two non-executive directors, and five independent non-executive directors[130]. - The company has maintained a high standard of corporate governance, emphasizing transparency, accountability, and independence[126]. - The Board has established various committees, including a Nomination Committee, Remuneration Committee, Audit Committee, and Executive Committee[158]. - The Company has adopted a Board Diversity Policy to achieve balanced diversity at the Board[142]. - The Board conducted an annual review of the implementation and effectiveness of the Board Diversity Policy and is satisfied with its proper implementation[142]. Risk Management - The Group's risk management and internal control systems are designed to provide reasonable assurance against material misstatement or loss, with a focus on managing significant risks to achieve business objectives[179]. - The internal audit function conducts independent assessments of the adequacy and effectiveness of the Group's risk management and internal control systems, with reports submitted to the Audit Committee and the Board[180]. - Financial risks include market risk, credit risk, and liquidity risk, with market risk further divided into interest rate risk, foreign currency risk, and other price risks[192]. Market Conditions and Economic Impact - The Group's business and profitability growth were affected by the volatility and uncertainty of macro-economic conditions in the PRC, including policy changes and interest rate fluctuations[195]. - The Group is committed to long-term sustainability and complies with local environmental protection laws and regulations related to property development[198]. - The Group aims to reduce its operational impact on the environment through policies that minimize paper and electricity consumption and promote electronic communication[198].