栖霞建设(600533) - 2023 Q4 - 年度财报

Financial Performance - The company's operating revenue for 2023 was RMB 4,768,139,382.50, a decrease of 31.03% compared to RMB 6,913,588,071.53 in 2022[20] - The net profit attributable to shareholders of the listed company was RMB -134,388,981.92, representing a decline of 171.24% from RMB 188,655,817.51 in the previous year[20] - The basic earnings per share for 2023 was -0.13 yuan, down 172.22% from 0.18 yuan in 2022[22] - The weighted average return on net assets decreased to -3.12% in 2023 from 4.24% in 2022, a drop of 7.36 percentage points[22] - The net cash flow from operating activities was RMB -1,059,824,502.61, compared to RMB -904,630,232.15 in the previous year[20] - The company reported a decrease of 31.01% in revenue after excluding non-main business income, totaling RMB 4,764,434,081.80 in 2023[20] - The company reported non-recurring gains of CNY 1,067,168.54 in 2023, significantly lower than CNY 27,308,236.17 in 2022[27] - The company reported a positive profit for the reporting period, but did not propose a cash profit distribution plan[122] Assets and Liabilities - The total assets at the end of 2023 amounted to RMB 24,388,700,762.30, an increase of 7.19% from RMB 22,752,687,984.01 in 2022[21] - The company's net assets attributable to shareholders at the end of 2023 were RMB 4,158,234,226.83, a decrease of 7.09% from RMB 4,475,727,270.30 in 2022[21] - The company's inventory stood at CNY 17.754 billion as of the end of the reporting period[45] - The total amount of guarantees provided by the company (including those for subsidiaries) is 4.33325 billion RMB, which accounts for 99.33% of the company's net assets[142] - The total amount of guarantees exceeding 50% of net assets is approximately 2.152 billion RMB[142] - The asset-liability ratio increased from 79.61% in 2022 to 82.11% in 2023, reflecting a 3.14% rise[192] Revenue and Sales - In Q1 2023, the company reported operating revenue of CNY 1,866,823,143.43, which decreased to CNY 934,337,290.70 in Q4 2023[24] - The net profit attributable to shareholders was CNY 9,922,711.44 in Q1 2023, but it turned negative to CNY -122,246,331.16 in Q4 2023[24] - The company settled sales area of 159,000 square meters, down from 238,400 square meters in the previous year[45] - The gross margin for real estate development was 14.54%, down 3.97 percentage points year-on-year[49] - The company’s revenue from real estate development was ¥3,400,697,040.43, accounting for 87.47% of total costs, which decreased by 36.40% year-on-year[52] Investments and Projects - The company achieved a 100% completion rate for all projects delivered during the reporting period[33] - The property service subsidiary, Qixia Property, generated operating revenue of CNY 263 million, with an additional service area of 1.08 million square meters added[34] - The cumulative area of new construction started in 2023 was 95,376,000 square meters, a decrease of 20.4% compared to the previous year[38] - The total area of completed projects in 2023 was 99,831,000 square meters, reflecting a year-on-year increase of 17%[38] - The company has ongoing construction projects in Nanjing with a total investment of 380,000,000 RMB for the Yan Shang Yue project[62] Corporate Governance - The company has established a robust corporate governance structure, holding multiple shareholder meetings to ensure transparency and protect minority shareholders' rights[91] - The company maintains independence from its controlling shareholder, ensuring separate operations and financial management[94] - The company has not faced any penalties from securities regulatory authorities in the past three years, indicating compliance with regulations[106] - The company has established an "Associated Transaction Management System" to ensure fair and reasonable related transactions, with full disclosure of pricing basis[175] Future Strategies - The company emphasized a strategy of "one industry as the main focus, diversified development" to navigate industry challenges[32] - The company plans to shift from extensive expansion to refined operations, optimizing internal processes to strengthen competitive advantages[81] - The primary task for the company in 2024 is to enhance property sales and optimize sales policies and pricing strategies to adapt to market changes[84] - The company aims to improve rental income by enhancing property management and operational quality[84] - The company is actively seeking investment opportunities in upstream and downstream sectors of the real estate industry to achieve sustainable development[42] Financial Management - The company will implement cost management measures and optimize supplier systems to reduce procurement costs in response to the low-profit era in real estate[84] - The company recognizes the risks associated with policy changes and aims to adapt its business direction to seize market opportunities[87] - The company will maintain a prudent financial policy to manage funding risks and ensure cash flow safety[88] - The company reported a total of RMB 3.00 billion used for repaying company bonds during the reporting period[177] Shareholder Information - The total pre-tax remuneration for the chairman and president, Jiang Jinsong, was CNY 1.88 million for the reporting period[98] - The largest shareholder, Nanjing Qixia Construction Group Co., Ltd., holds 360,850,600 shares, accounting for 34.37% of the total shares[151] - The company received approval from the China Securities Regulatory Commission to issue bonds totaling up to RMB 1.5 billion within 24 months[146] - The company has no changes in its share capital structure during the reporting period[145] Risk Management - The company acknowledges market risks due to weak consumer confidence and plans to pursue high-quality, cost-effective products[88] - The company has no significant litigation or arbitration matters reported for the year[137] - The company has not disclosed any major related party transactions during the reporting period[137]