Gelonghui, March 26 | China Xincheng (01321.HK) announced that the Group achieved consolidated revenue of approximately RMB 1,297 billion in fiscal year 2023, an increase of 119.2% over the previous year; gross profit was approximately RMB 368 million, up 213.6% year on year, far higher than the revenue growth rate. Gross margin was approximately 28.4%, up about 8.6% from FY2022. As of December 31, 2023, the Group's total equity was approximately RMB 4,841 million, and the cash book value was approximately RMB 384 million.
The Group is a large-scale enterprise integrating commercial development and operation, hotel management, film and television, education, cultural tourism and other industries. It has many commercial real estate inventory and property resources, and the sector layout covers the whole country. With a forward-looking strategic vision and an operating philosophy that keeps pace with the times, the Group has now developed into an outstanding comprehensive commercial real estate operator in the Yangtze River Delta region. It has been rated as “2023 Top 10 Commercial Real Estate Operators in China”, “China's Top 100 Commercial Real Estate Companies”, “Outstanding Enterprise in China's Real Estate City Renewal”, and “Top 10 Brand Value Companies in China”.