Financial Performance - The Group recorded a revenue of approximately RMB1,297 million, representing a year-on-year increase of approximately 119.2%[71]. - Gross profit for the year was approximately RMB368 million, reflecting a year-on-year increase of approximately 213.6%[71]. - Loss attributable to owners of the Company was approximately RMB404 million, an increase of approximately 6.6% compared to 2022[71]. - Total equity of the Group reached approximately RMB4,841 million by the end of 2023[71]. - The carrying amount of cash as of the end of 2023 was approximately RMB384 million[71]. - Loss per share attributable to ordinary equity holders of the parent was approximately RMB20.1 cents[71]. - The Board does not recommend the payment of any final dividend for the year under review[71]. - The Group recorded a revenue of approximately RMB258 million in 2023, representing a year-on-year increase of approximately 16.7%[143]. - The hotel occupancy rate was approximately 70% in 2023, an increase of 14% compared to 2022[143]. - The average price of a guest room increased from RMB463 per room in 2022 to RMB479 per room in 2023, representing a year-on-year increase of 3.5%[143]. Corporate Governance - The Group's internal control systems were reviewed, covering financial, operational, compliance controls, and risk management functions, with no major issues identified[1]. - The Group has established procedures for handling inside information, ensuring compliance with disclosure requirements under the Listing Rules[4]. - The Group has implemented a fair disclosure policy to ensure broad distribution of information to the public[4]. - The Group's corporate governance report outlines compliance with regulatory requirements and best practices in management[25]. - The Company has implemented a liability insurance policy for directors and senior management to cover legal actions arising from their duties[23]. - The Company emphasizes continuous professional development for all directors to enhance their knowledge and skills in corporate governance[30]. - The board reviewed the effectiveness of the shareholders' communication policy, deeming it adequate for the year ended December 31, 2023[119]. - The company aims to provide clear and timely compliance information to investors and analysts for informed investment decisions[111]. - The company emphasizes the importance of feedback from shareholders and investors through established communication channels[119]. Management and Leadership - The Company Secretary, Mr. Lin Caihe, was appointed effective September 15, 2023, to fill a casual vacancy[8]. - The Company appointed Mr. Jin Jianrong as an executive director on May 5, 2023, while Mr. Liu Bo resigned on the same date[42]. - The executive director and CEO has been with the company since April 3, 2020, focusing on daily operations and strategic investments[126]. - The newly appointed executive director as of May 5, 2023, has over 35 years of experience in the property and construction industry[127]. - The chairperson of the board has over 30 years of experience in property development and investment[135]. Strategic Initiatives - The Group plans to focus on community commercial complexes and improve operational efficiency in 2024, collaborating closely with local governments on future community projects in Zhejiang Province[92]. - The Group aims to expand its business layout and explore growth opportunities, establishing a commercial product system centered on personalized theme business and self-operated brand management[91]. - The Group's diversified business segments, including commerce, hotels, and cultural tourism, are beginning to thrive, with plans to expand into urban renewal and rural revitalization[81]. - The Group intends to explore opportunities in the prepared dishes segment to foster new business growth[144]. - The Group's vision is to become a business operator that "creates new and better living" through the expansion and optimization of its business chain[150]. Market and Industry Trends - The overall real estate market in China showed a trend of "high from the beginning, low in the middle and stable at the end" during 2023, impacting buyer sentiment and market performance[79]. - The Group's strategic vision focuses on integrating commercial development and operation across various industries, enhancing its market position in the Yangtze River Delta Region[175]. - The Group has a significant land bank with multiple projects in various stages of development, indicating strong future growth potential[168][172]. Audit and Compliance - The audit fee for the Group for the year ended December 31, 2023, was RMB1,680,000, consistent with the previous year[18]. - The independent auditor also reviewed the interim results of the Company for a fee of RMB420,000, unchanged from 2022[18]. - The Group's internal audit department is responsible for providing internal control assessment reports to the Audit Committee and the Board[2]. - The Board and Audit Committee believe that the key areas of the Group's internal control systems are reasonably implemented[1]. Investor Relations - The Company’s website provides additional information and updates for investors, enhancing transparency and communication[38]. - The investor relations plan for 2024 includes multiple activities to enhance investor understanding of the group[116]. - The company plans to enhance communication with investors in 2024, including field trips and non-deal roadshows[112]. - The annual general meeting was held on June 8, 2023, where all ordinary resolutions were passed by poll[110].
中国新城市(01321) - 2023 - 年度财报