越秀地产(00123) - 2022 - 年度财报

Financial Performance - Revenue for the year 2022 reached RMB 72,415,643, an increase of 26.2% compared to RMB 57,378,861 in 2021[5] - Gross profit for 2022 was RMB 14,805,616, up from RMB 12,482,465 in 2021, reflecting a growth of 18.6%[5] - Profit attributable to equity holders was RMB 3,953,352, representing an increase of 10.2% from RMB 3,588,929 in the previous year[5] - Basic earnings per share for 2022 were RMB 1.2767, compared to RMB 1.1590 in 2021, marking a rise of 10.1%[5] - The core net profit for 2022 was RMB 4,237,930, slightly up from RMB 4,152,049 in 2021, indicating a growth of 2.1%[5] - The company declared a dividend of RMB 0.547 per share for 2022, compared to RMB 0.536 in 2021, representing a 2.1% increase[5] - The company achieved a net profit attributable to equity holders of approximately RMB 3.95 billion, an increase of 10.2% year-on-year, while core net profit rose by 2.1% to approximately RMB 4.24 billion[25] - The company reported a significant increase in revenue, achieving a total of 55 billion in 2022, reflecting a robust growth trajectory[104] Assets and Liabilities - Total assets as of December 31, 2022, amounted to RMB 346,351,976, an increase of 10.3% from RMB 313,854,885 in 2021[6] - Cash and cash equivalents totaled RMB 35,118,452, down from RMB 40,499,046 in 2021, indicating a decrease of 13.5%[6] - Shareholders' equity increased to RMB 47,429,623 in 2022, up from RMB 46,236,070 in 2021, reflecting a growth of 2.6%[6] - As of December 31, 2022, the company's working capital was approximately RMB 105.46 billion, an increase from RMB 80.18 billion on December 31, 2021, with a current ratio of 1.6 times compared to 1.4 times in the previous year[75] - Total borrowings and notes amounted to RMB 88.30 billion as of December 31, 2022, up from RMB 75.53 billion a year earlier, with a net debt of RMB 67.34 billion compared to RMB 43.64 billion in 2021[76] - The company's total equity reached RMB 84.79 billion, increasing from RMB 74.37 billion in the previous year, resulting in a capital debt ratio of 44.3%, up from 37.0%[76] Market Expansion and Strategy - The company plans to continue expanding its market presence and investing in new property developments[4] - The company expanded its national layout to 30 cities, with a focus on the Guangdong-Hong Kong-Macao Greater Bay Area and key regions such as East China, Central China, Northern China, and Western China[16] - The company plans to continue its "one city, one policy" investment strategy, focusing on advantageous regions such as the Greater Bay Area and East China[40] - The company is actively pursuing market expansion strategies in various regions, including the Greater Bay Area and Hainan, to enhance its competitive edge[108] - The company is considering potential mergers and acquisitions to strengthen its market presence and operational capabilities[60] Sales Performance - The company's total contract sales reached RMB 125.03 billion in 2022, an increase of 8.6% year-on-year, exceeding the annual sales target of RMB 123.5 billion[15] - The company achieved sales of its TOD projects amounting to RMB 22.09 billion, representing a year-on-year increase of 23.6%[30] - The company recorded a significant increase in contract sales in the East China region, achieving RMB 42.95 billion, a year-on-year increase of 65.7%[27] - In 2022, the total contract sales amount in the Greater Bay Area reached approximately RMB 59.68 billion, accounting for 47.7% of the company's total contract sales[47] - The company achieved contract sales of approximately RMB 53.19 billion in Guangzhou, representing 42.5% of the company's total contract sales for the year[48] Financial Management - The company maintained a healthy financial performance with a debt-to-asset ratio of 68.8%, a net debt ratio of 62.7%, and a cash-to-short-term debt ratio of 2.23 times[17] - The average borrowing cost decreased by 10 basis points year-on-year to 4.16%, positioning the company in a leading industry position[17] - The company is committed to maintaining a prudent financial policy, focusing on cash flow management and reducing financing costs[43] - The company plans to continue monitoring interest rate market changes and optimize its debt structure to manage interest rate risks[78] Sustainability and ESG - The company established an ESG professional committee and received a BB rating from MSCI, indicating strong recognition for its sustainable development efforts[18] - The company’s green building area increased by 113% year-on-year, reflecting its commitment to sustainable development[35] - The company’s ESG performance was recognized with a BB rating from MSCI and a two-star rating (79 points) from GRESB, indicating strong sustainability practices[36] - The board is responsible for overseeing the company's ESG development direction and strategy, regularly discussing and reviewing ESG-related risks and opportunities[113] Corporate Governance - The company has adhered to the Corporate Governance Code throughout the fiscal year ending December 31, 2022[84] - The board consists of five executive directors, one non-executive director, and three independent non-executive directors as of December 31, 2022[114] - The company emphasizes high transparency in information disclosure, continuously optimizing mid-term and annual reports, and proactively releasing monthly unaudited sales and land acquisition announcements[98] - The company has a structured process for shareholders to raise inquiries and concerns, ensuring effective communication with the board[143] Human Resources - As of December 31, 2022, the group employed approximately 18,400 employees, an increase from 17,980 employees as of June 30, 2022[83] - The company is committed to human resource optimization and management, focusing on building a strong organizational structure to support growth initiatives[108] Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and transparency[139] - The company has arranged for directors and senior management to have liability insurance, which is effective throughout the year[120]