Financial Performance - Revenue for the year ended December 31, 2023, reached RMB 1,297,235 thousand, representing a 119.2% increase compared to RMB 591,783 thousand in 2022[2] - Gross profit for the same period was RMB 368,097 thousand, a significant increase of 213.6% from RMB 117,373 thousand in the previous year[2] - The net loss for the year narrowed to RMB 425,133 thousand, a decrease of 7.9% from RMB 461,640 thousand in 2022[2] - For the year ended December 31, 2023, total revenue reached RMB 1,297,235 thousand, a significant increase from RMB 591,783 thousand in 2022, representing a growth of approximately 119%[43] - The company reported a pre-tax loss of RMB 476,667 thousand for the year ended December 31, 2023, compared to a pre-tax loss of RMB 477,514 thousand in 2022, showing a slight improvement[43] - The company reported a pre-tax loss of RMB 476,667,000 for 2023, slightly improved from a loss of RMB 477,514,000 in 2022[70] - The net loss for fiscal year 2023 was approximately RMB 425,133,000, a slight improvement from a net loss of RMB 461,640,000 in fiscal year 2022[109] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 13,533,007 thousand, down 10.8% from RMB 15,179,776 thousand in 2022[2] - Net assets decreased by 8.8% to RMB 4,840,839 thousand from RMB 5,307,909 thousand in the previous year[2] - The company’s total liabilities were RMB 8,692,168 thousand as of December 31, 2023, compared to RMB 9,871,867 thousand in 2022, reflecting a reduction of approximately 12%[43] - The company experienced a decrease in cash and cash equivalents, totaling RMB 1,276,276 thousand, down from RMB 919,543 thousand in the previous year[22] - The company’s total liabilities decreased to RMB 5,332,192 thousand from RMB 6,228,366 thousand, indicating a reduction of 14.4%[22] - The group’s total bank loans and other borrowings were approximately RMB 3,119,040,000 as of December 31, 2023, compared to RMB 4,008,479,000 as of December 31, 2022[114] - The current ratio as of December 31, 2023, was 0.84, down from 0.93 on December 31, 2022[113] - The debt-to-capital ratio was 46% as of December 31, 2023, compared to 44% as of December 31, 2022[113] Equity and Shareholder Information - The total equity of the group was reported at RMB 4,840,839,000[29] - Basic and diluted loss per share for the year was RMB (20.1) cents, compared to RMB (21.5) cents in 2022[2] - The company reported a basic loss attributable to ordinary shareholders of RMB 404,136,000 for 2023, compared to a loss of RMB 432,523,000 in 2022, indicating a reduction in losses[73] - The group did not recommend a final dividend for the year ending December 31, 2023, consistent with 2022[74] - The group did not recommend any final dividend for the fiscal year 2023, consistent with the previous fiscal year[128] Operational Segments - The group primarily engages in commercial property development, leasing, and hotel operations[31] - The group has established four reportable operating segments: commercial property development, property leasing, hotel operations, and other[40] - The company’s segment performance showed a loss of RMB 378,566 thousand for the year ended December 31, 2023, compared to a loss of RMB 372,141 thousand in 2022[43] - The company’s revenue from property leasing increased to RMB 110,712 thousand in 2023 from RMB 101,528 thousand in 2022, marking a growth of approximately 9%[54] - Hotel operation services generated revenue of RMB 221,657,000 in 2023, while property sales contributed RMB 137,416,000, reflecting a diversified revenue stream[55] Cash Flow and Financial Management - The company believes it has sufficient operating cash flow for the foreseeable future, supporting the going concern basis of the financial statements[26] - The company has adopted a prudent treasury policy, primarily managing cash in short-term deposits, mostly in RMB[116] - The company recognized impairment losses of RMB 21,280 thousand during the year, compared to RMB 47,661 thousand in 2022, indicating a reduction in impairment losses[45] - Financial expenses decreased to RMB 226,446,000 in 2023 from RMB 297,908,000 in 2022, showing effective cost management[59] - The impairment provision for property and equipment was RMB 1,653,000 in 2023, down from RMB 12,867,000 in 2022, indicating improved asset performance[57] Future Outlook and Strategy - The company is committed to advancing urban renewal projects and exploring new development models in the stock market to adapt to market changes[87] - The group plans to enhance investor relations management through various communication strategies to maximize shareholder value[121] - The group is evaluating the impact of newly issued and revised International Financial Reporting Standards that are not yet effective[37] Employee and Operational Metrics - The group employed 1,256 staff as of December 31, 2023, down from 1,332 staff as of December 31, 2022[119] - The average occupancy rate for rental properties was approximately 86% in fiscal year 2023, consistent with the previous fiscal year[100] Miscellaneous - The financial statements were prepared in accordance with International Financial Reporting Standards, with all values adjusted to the nearest thousand[26] - The company will suspend share registration procedures from June 3, 2024, to June 6, 2024, to determine eligibility for the annual general meeting[136] - The annual performance announcement and annual report for FY2023 will be published on the company's and the stock exchange's websites at an appropriate time[137]
中国新城市(01321) - 2023 - 年度业绩