C&D INTL GROUP(01908)2024-03-21 12:52Financial Performance - For the fiscal year ending December 31, 2023, the group achieved a total contract sales amount of approximately RMB 137.96 billion, representing an increase of approximately RMB 16.44 billion or 13.5% compared to the previous fiscal year[3]. - The total revenue for the fiscal year was approximately RMB 134.43 billion, an increase of approximately RMB 34.79 billion or 34.9% year-on-year[5]. - The profit attributable to equity holders of the company was approximately RMB 5.03 billion, reflecting a growth of approximately RMB 100.74 million or 2.0% compared to the previous fiscal year[3]. - The basic earnings per share for the fiscal year was RMB 2.61[5]. - The group's gross profit was approximately RMB 14.92 billion, with a gross profit margin of approximately 11.1%[5]. - The total comprehensive income for the year was approximately RMB 6.33 billion, compared to RMB 5.56 billion in the previous year[7]. - The total revenue for the group in 2023 was RMB 134,429,975,000, an increase from RMB 99,635,501,000 in 2022, reflecting a year-over-year growth of approximately 35%[22]. - The net profit attributable to equity holders increased to approximately RMB 5,034.71 million, up about RMB 100.74 million (approximately 2.0%) from the previous fiscal year[55]. Revenue Breakdown - The revenue from property development business was approximately RMB 130.13 billion, an increase of approximately RMB 33.48 billion or 34.6% year-on-year[3]. - Revenue from property management and related services was RMB 4,298,065,000 in 2023, compared to RMB 2,987,856,000 in 2022, marking a growth of about 43.8%[22]. - The group's revenue from property development reached RMB 130,131,910,000 in 2023, up from RMB 96,647,645,000 in 2022, representing an increase of approximately 34.5%[22]. - Income from property management services was RMB 2,600,158,000 in 2023, up from RMB 1,658,022,000 in 2022, which is an increase of approximately 56.8%[23]. Assets and Liabilities - Total assets increased to RMB 427,277,513 thousand in 2023 from RMB 393,463,167 thousand in 2022, representing a growth of approximately 8.6%[9]. - Total liabilities rose to RMB 336,338,644 thousand in 2023 compared to RMB 314,042,679 thousand in 2022, indicating an increase of about 7.1%[11]. - The net asset value increased to RMB 90,938,869 thousand in 2023 from RMB 79,420,488 thousand in 2022, reflecting a growth of approximately 14.8%[11]. - The company's equity attributable to owners of the parent increased to RMB 33,456,479 thousand in 2023 from RMB 31,637,220 thousand in 2022, marking a rise of about 5.8%[11]. Cash Flow and Collections - The group realized cash collections from property development totaling approximately RMB 184.3 billion for the fiscal year[3]. - The cash and cash equivalents held by the company reached RMB 54,161,319 thousand in 2023, up from RMB 50,280,062 thousand in 2022, which is an increase of approximately 3.7%[11]. Dividends - The board proposed a final dividend of HKD 1.3 per share, with an option for shareholders to receive the dividend in new shares[3]. - The proposed final dividend for the year ending December 31, 2023, is HKD 1.3 per share, totaling HKD 2,464,389,000, equivalent to RMB 2,233,279,000[35]. Market Strategy and Outlook - The group plans to continue expanding its market presence and investing in new technologies and products to drive future growth[3]. - The overall market outlook remains positive, with expectations for continued growth in contract sales and construction area in the upcoming fiscal year[61]. - The company aims to leverage its strong sales performance to drive further strategic initiatives and enhance shareholder value[61]. Employee and Operational Metrics - As of December 31, 2023, the group employed a total of 20,913 full-time employees, an increase from 19,594 full-time employees as of December 31, 2022[97]. - The total employee cost for the year was approximately RMB 3,889.88 million, compared to RMB 3,599.55 million in 2022, reflecting an increase of about 8.06%[97]. Regulatory and Reporting Standards - The financial statements have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards[15]. - The company has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2023, which did not have a significant impact on the financial performance and position[18]. Acquisitions and Investments - The company has entered into agreements to acquire stakes in several Chinese entities that own land use rights or property development projects[46]. - The company plans to complete the acquisition of Chengdu Zhaorong Sheng by the second quarter of 2024[52]. Risks and Challenges - The overall market environment for the real estate industry in 2023 is relatively relaxed, but external market conditions remain severe, leading to a decline in consumer confidence[54]. - The real estate industry faces increased uncertainty in the external environment, but there are still broad and sustainable business opportunities[101].