LJZ(SH:600663)2024-04-29 12:09Financial Performance - In 2023, the company achieved operating revenue of 10.667 billion CNY and a net profit attributable to shareholders of 1.093 billion CNY[3]. - The company's operating revenue for 2023 was CNY 10,667,009,242.46, a decrease of 9.25% compared to CNY 11,754,695,013.59 in 2022[37]. - Net profit attributable to shareholders for 2023 was CNY 1,093,441,682.63, reflecting a 4.47% increase from CNY 1,046,644,887.81 in 2022[37]. - The net cash flow from operating activities for 2023 was CNY 11,380,550,776.89, a significant recovery from a negative cash flow of CNY -3,671,735,282.01 in 2022[37]. - Basic earnings per share for 2023 was CNY 0.2272, up 4.46% from CNY 0.2175 in 2022[38]. - The weighted average return on equity for 2023 was 4.17%, an increase of 0.59 percentage points compared to 3.58% in 2022[39]. - The company reported a total asset value of CNY 162,368,063,897.46 at the end of 2023, representing a 7.44% increase from CNY 151,118,195,624.16 in 2022[37]. - The company reported a total profit of 90,262,580.04 RMB for the year 2023, with a significant increase compared to the previous year's total of 210,720,304.56 RMB[44]. Revenue Sources - In 2023, the company achieved total operating revenue of 10.667 billion CNY, with real estate business revenue of 9.747 billion CNY and financial business revenue of 920 million CNY[56]. - The rental income from long-term operating properties reached 4.462 billion CNY, with office properties contributing 3.503 billion CNY, a 15% increase year-on-year[57]. - The company’s residential property sales generated cash inflow of 13.972 billion CNY, with a contract sales area of 140,900 square meters, representing a 98% year-on-year increase[62]. - The financial services segment generated revenue of 920 million CNY, accounting for 8.62% of the total operating revenue[64]. Asset Management and Restructuring - The company is actively promoting major asset restructuring to strengthen its main business and improve financial structure[3]. - The company completed major asset restructuring, acquiring 100% of Changyi Company and 30% of Dongmao Company, which expanded the scope of consolidation in financial statements[83]. - The company completed the acquisition of assets in July 2023, which will be reflected in the financial statements going forward[41]. - The company completed a significant asset restructuring in 2023, enhancing its asset-liability structure and sustainable development capabilities[140]. Project Development and Future Plans - The company has several ongoing projects with completion expected in 2024, including office buildings in the Zhangjiang area with a total area of 174,578 sqm[6]. - The company plans to complete several ongoing projects in 2024, including the Zhangjiang Zhongqu 73-02 plot with a building area of 43,227 square meters[10]. - In 2024, the company plans to complete 9 projects with a total construction area of 1.23 million square meters and continue 5 projects with a total area of 1.42 million square meters[70]. - The company plans to optimize its business layout by focusing on "urban development operations" and "financial services" through digitalization and intelligence to enhance service capabilities and core competitiveness[75]. Market Conditions and Trends - The average occupancy rate for mature Grade A office buildings in Shanghai was 83%, with an average rent of 7.97 CNY/sqm/day[4]. - The average occupancy rate for mature Grade A office buildings in Tianjin was 62%, with an average rent of 3.45 CNY/sqm/day[4]. - The average rental price for industrial parks in Shanghai was 3.93 RMB/sqm/day, with an average occupancy rate of 78.2% in 2023[124]. - The investment market in Shanghai recorded a total transaction volume of 78.98 billion RMB in 2023, with office buildings accounting for 53% of the transaction volume, indicating a recovery in investment-type transactions[124]. Governance and Compliance - The company has established a comprehensive internal governance structure, including various committees such as the Strategic Decision Committee and the Audit Committee, to ensure effective decision-making and compliance with regulations[144]. - The company has not experienced any violations of the commitment letter regarding avoiding competition during the reporting period[147]. - The company’s governance practices align with the requirements of the Company Law and the Securities Law, ensuring shareholder interests are maximized[144]. - The company has not engaged in any related party transactions that could harm the interests of minority shareholders[145]. Employee and Management Practices - The total number of employees at the parent company and major subsidiaries is 6,170, with 2,498 in production, 564 in sales, and 1,459 in technical roles[183]. - The company has implemented a training program for new employees and ongoing professional development to promote employee growth[185]. - The company has established a remuneration policy based on industry and regional conditions, ensuring competitive compensation for its employees[184]. - The total remuneration for directors, supervisors, and senior management in 2023 amounted to RMB 10.5235 million, with senior management receiving RMB 7.884 million[167]. Environmental and Social Responsibility - The company invested RMB 3,905.45 million in environmental protection during the reporting period[196]. - The company has implemented carbon reduction measures, including the use of intelligent systems and energy-saving low-carbon designs[197]. - The company has committed RMB 240.01 million to poverty alleviation and rural revitalization projects[200]. - The company is actively managing risks related to land pollution issues and is progressing with soil remediation efforts[143].