Binjiang Group(002244) 证券时报网·2025-04-26 03:05Core Viewpoint - In 2024, Binhai Group reported a slight decline in revenue but an increase in net profit, demonstrating resilience in a challenging real estate market [2][4]. Financial Performance - The company achieved operating revenue of 69.152 billion yuan, a year-on-year decrease of 1.83% - The net profit attributable to shareholders was 2.546 billion yuan, up 0.66% year-on-year - The net profit after deducting non-recurring items was 2.430 billion yuan, an increase of 1.19% year-on-year - Basic earnings per share stood at 0.82 yuan [2]. Industry Context - National real estate development investment in 2024 was 10,028 billion yuan, down 10.6% year-on-year - Residential investment reached 7,604 billion yuan, a decline of 10.5% - New housing starts fell by 23.0%, with a total area of 73,893 million square meters - Sales of new commercial housing decreased by 12.9%, with residential sales down 14.1% [2]. Sales Performance - Binhai Group achieved sales of 111.63 billion yuan, ranking 9th in the industry according to CRIC, improving by 2 positions from 2023 - The company is the only private real estate enterprise in the top 10 and has been the sales champion in Hangzhou for seven consecutive years [2][3]. Project Delivery - In 2024, Binhai Group delivered a total of 52 projects, including 32 in Hangzhou and 20 in other cities, marking a historical high in delivery numbers [3]. Financial Health - As of the end of 2024, the company's interest-bearing liabilities were 30.5 billion yuan, down 5.5 billion yuan from the beginning of the year - The balance of monetary funds was 32.7 billion yuan, an increase of 10.47% - The average financing cost decreased to 3.4%, the largest drop in recent years [4]. Land Acquisition - Binhai Group acquired 23 plots of land in 2024, with a total investment of 44.85 billion yuan and a rights investment of 21.935 billion yuan - The company maintained a market share of 37% in land acquisition in Hangzhou, leading the market [4]. Future Strategy - For 2025, Binhai Group aims for sales exceeding 100 billion yuan, targeting to rank within the top 15 nationally - The company will continue to focus on its core real estate business while expanding into five additional sectors: services, leasing, hotels, elderly care, and industrial investment [6].