Business Performance - Revenue for the year ended December 31, 2023, was RMB 20,960,968, a decrease of 21.5% from RMB 26,705,112 in 2022[42]. - Gross profit for 2023 was RMB 2,630,992, down 51.4% from RMB 5,410,308 in the previous year[42]. - The company reported a loss attributable to owners of the parent of RMB (7,991,050) compared to a profit of RMB 24,544 in 2022[42]. - Total assets decreased by 13.4% to RMB 167,889,687 from RMB 193,964,068 in 2022[47]. - Cash and bank balances fell by 57.1% to RMB 6,448,926 from RMB 15,016,058 in the previous year[47]. - Total liabilities decreased by 6.3% to RMB 147,407,361 from RMB 157,338,827 in 2022[47]. - The year 2023 was marked by a shrinking transaction volume in the national new home market[33]. - The Company faced significant challenges but worked to uphold its business fundamentals and progress with all tasks in an orderly manner[33]. Property Development and Management - The total delivered property area during the year amounted to approximately 2.34 million sq.m[33]. - The Group's land bank has an aggregate planned gross floor area (GFA) of approximately 29.90 million sq.m[8]. - The market-oriented expansion business has achieved breakthrough development, significantly increasing the total GFA under management of residential properties[33]. - The company delivered approximately 2.34 million square meters of properties during the year, focusing on "ensuring delivery" amid market challenges[45]. - The management area of residential properties saw significant growth, indicating a breakthrough in market expansion efforts[45]. - The Company operates with a regional focused development strategy in key economic zones including the Yangtze River Delta and the Bohai Rim[8]. - The outlook for 2024 includes a focus on overcoming industry challenges and maintaining operational stability[44]. Corporate Governance - The company has maintained compliance with the Corporate Governance Code throughout the year, ensuring high operational efficiency and safeguarding shareholder interests[73]. - The board is responsible for overseeing major company matters, including management strategies, internal controls, financial performance, and monitoring senior management[107]. - The company emphasizes high standards of corporate governance to promote operational efficiency and protect shareholder interests[74]. - The company has confirmed that all directors adhered to the standards set by the code throughout the year[75]. - The company has adopted a Board Diversity Policy, focusing on measurable targets in areas such as expertise, experience, and independence to enhance board effectiveness[78]. - The independent non-executive director has significant accounting and financial management expertise, meeting regulatory requirements[104]. - The company has a structured approach to nominations, periodically reviewing its policy to align with business needs and regulatory requirements[78]. - The board composition includes a mix of executive and independent non-executive directors, ensuring diverse perspectives in decision-making[102]. Share Options and Employee Incentives - The company granted 382,000,000 share options under the 2018 Scheme to employees, including directors, during the year[156]. - As of December 31, 2023, the total outstanding share options were 286,000,000, with an exercise price of HK$2.78 per share[158]. - The number of share options available for further grant under the 2018 Scheme was nil at the end of the year, as the scheme was terminated during the year[160]. - The total number of shares available for issue under the 2018 Scheme was 286,000,000 shares, representing approximately 6.8% of the total number of issued shares[162]. - The 2018 Scheme was adopted on April 23, 2018, and had a lifespan of 10 years, expiring on April 22, 2028[167]. - The maximum number of shares issuable under share options granted to each eligible participant in the 2018 Scheme within any 12-month period is limited to 1% of the shares of the Company in issue[167]. - The total number of shares that may be issued upon exercise of all options under the 2018 Scheme must not exceed 30% of the number of shares in issue from time to time[167]. - The exercise price of the share options is determined by the Board but shall not be less than the highest of the closing price on the date of the offer, the average closing price for the preceding five trading days, or the nominal value of the Company's shares[170]. Board Diversity and Composition - The Nomination Committee held one meeting during the year to discuss the composition and diversity policy of the Board[182]. - As of December 31, 2023, the Board has achieved measurable goals under the Board Diversity Policy, ensuring at least 35% of members have over 10 years of experience in real estate development[184]. - The Company aims to appoint at least one female Director by December 31, 2024, to enhance gender diversity on the Board[184]. - The Board has set a target for at least 60% of its members to have attained a Bachelor's degree or higher level of education[186]. - The Company has established a policy to ensure the age distribution of Board members includes individuals from at least three decades[186]. - The Company has a policy to recruit employees based on merit, regardless of gender, to ensure a diverse pipeline for potential successors[186]. - The Board has adopted a policy to ensure at least two members have obtained accounting or other professional qualifications[184]. - The Company regularly reviews its nomination policy to monitor progress towards achieving the set diversity goals[182].
中骏集团控股(01966) - 2023 - 年度财报