Gelonghui, March 26, 丨 Baolong Commercial (09909.HK) announced that for the year ended December 31, 2023, the company's revenue was approximately RMB 2,635.7 million, an increase of about 3.4% over the previous year. Gross profit was approximately RMB 887.0 million, up about 6.3% year over year. The gross margin was about 33.7%, up about 1.0 percentage point from about 32.7% for the year ended December 31, 2022. The profit attributable to the company's shareholders was approximately RMB 453.0 million, an increase of about 2.2% over the previous year.
For the year ended December 31, 2023, the Group's commercial operation service business segment achieved total revenue of approximately RMB 2,137.4 million, an increase of 3.8% over RMB 2,058.3 million for the year ended December 31, 2022; the opened construction area was approximately 10.8 million square meters, an increase of 0.2 million square meters over 10.6 million square meters in the same period in 2022; the number of opened projects was 95, a net increase of 2 over 93 in the same period of 2022; and the contract construction area was approximately 15.1 million square meters.
For the year ended 31 December 2023, the Group's residential property management services business segment achieved total revenue of approximately RMB 498.4 million, an increase of 1.5% over RMB 491.0 million for the year ended 31 December 2022. The delivered construction area is about 21.1 million square meters, an increase of 1.7 million square meters over 19.4 million square meters in the same period in 2022; the number of delivered projects is 109, an increase of 17 compared to 92 in the same period in 2022; the contract construction area is about 31.2 million square meters, an increase of 0.5 million square meters over 30.7 million square meters in the same period of 2022.
In 2023, the Group completed the opening of 4 Baolong Plaza and 6 block projects. Jinhua Jinyi Baolong Plaza is the 7th branch of the Group's layout in Jinhua. Xuzhou and Xinbaolong Plaza was the Group's debut in Xuzhou. As a third-party asset-light inventory project, it only took 1 year from signing the contract to opening. Baolong Plaza in Jingdezhen first entered Jiangxi and is the only city-level shopping center with over 210,000 square meters in the region. The opening of Baolong Plaza in Pizhou was the final work of this year, filling the gap in high-quality commerce in the city.
Looking ahead to 2024, the Group will adhere to the strategic layout of “gathering the Yangtze River Delta and simultaneously develop South China”, further deepening cultivation, taking “deceleration and quality improvement” as the next development strategy, focusing on operations and improving project quality. Continuously strengthen the Group's brand power.