南山控股(002314) - 2023年2月10日投资者关系活动记录表

Group 1: Real Estate Development Performance - The company's real estate development business showed a quarterly imbalance, with significant project deliveries concentrated in the second half of 2022, particularly in Q4. The average sales rate of delivered projects exceeded 80% [1] - As of mid-2022, the company had a total land reserve of 1,209,000 square meters, with a total construction area of 2,551,000 square meters and a remaining developable area of 977,400 square meters [1] - In 2022, the national real estate development investment was CNY 1,328.95 billion, a decrease of 10.0% year-on-year, and the sales area of commercial housing was 1,358.37 million square meters, down 24.3% year-on-year [3] Group 2: Financing and Capital Management - The company has various financing channels, including bank loans, shareholder loans, bonds, and securitization financing, with no current plans for bond issuance [2] - The company emphasizes shareholder returns and will adjust its dividend plan based on actual conditions and development goals [2] - The company is cautious about future refinancing decisions, considering the current market conditions and business needs [2] Group 3: Market Outlook and Strategy - The real estate industry is entering a period of policy relaxation, which may help stabilize the market, but recovery is still under observation [2] - The company will continue to focus on core cities and adapt its project positioning to accelerate sales and cash flow [1] - The company does not plan to divest its real estate development business, as it is a key source of revenue and profit [2] Group 4: Logistics and Warehousing Operations - The average rental price for logistics warehouses was approximately CNY 30 per square meter per month in the first half of 2022, with an average occupancy rate of 87.1% [3] - The company is actively pursuing its first public REIT issuance, with expectations to complete the process within 2023 [4] - The logistics business remains a strategic focus, with plans to enhance asset management capabilities and expand operational scale [3]