CHIXIA DEVELOPMENT(600533)2024-05-21 11:02Financial Performance - The company completed the repayment of 20 million yuan in bonds in 2023 and successfully issued 300 million yuan in corporate bonds in November 2023 with a 3.5% interest rate [2] - In February 2024, the company issued 1.04 billion yuan in corporate bonds with a 3.0% interest rate [2] - The net profit for 2023 significantly decreased, primarily due to low gross margins from key projects and a provision for inventory depreciation amounting to 216.68 million yuan [3] Market Strategy - The company plans to continue focusing on real estate as its main business while enhancing core competitiveness and cautiously managing risks [3] - It aims to expand its construction segment and explore investment opportunities in the upstream and downstream of the industry chain [3] - The company is assessing land reserve increases based on market conditions and project specifics [2] Industry Outlook - The company believes that the supportive policies for the real estate sector will gradually release housing demand and stabilize the market [3] - The company has not entered any whitelist for projects as of now, but financing channels remain open and stable [4] Dividend Policy - The company will not distribute cash dividends, issue bonus shares, or convert reserves into share capital for 2023 due to the capital-intensive nature of the real estate industry and ongoing market uncertainties [4] - Future profit distribution policies will be aligned with the company's sustainable development and operational needs [4] Project Delivery - The company has successfully completed project deliveries as per contractual agreements, maintaining a stable financial status and cash flow [4]