China Aoyuan (03883) announced its annual results for the year ended December 31, 2023, and the group achieved total turnover...
According to the Zhitong Finance App, China Aoyuan (03883) announced the results for the year ended December 31, 2023. The group achieved total turnover of RMB 27.533 billion (same unit), an increase of 47.15% over the previous year; losses attributable to the company's shareholders amounted to RMB 9.534 billion, an increase of 21.56% over the previous year; and a loss of 321.47 points per share.
In 2023, the Group's property development sales revenue was about 24.964 billion yuan, an increase of about 9.611 billion yuan over the approximately 15.353 billion yuan in 2022, an increase of about 62.6%. The total construction area of the delivered properties increased by 41.6% to 2.96 million square meters from 2.09 million square meters in 2022; the average sales price increased 15.0% from about 7,335 yuan per square meter in 2022 to about 8,434 yuan per square meter, mainly because the average sales price of delivered residential apartments (accounting for most of the delivered properties) increased further compared to the same period in 2022.
The completion of the debt restructuring plan will help the Group to greatly improve its net asset situation, reduce debt pressure, and effectively drive steady progress in sales, construction, and financing of buildings and projects. The Group will continue to strengthen its confidence in development, fully integrate resources with a “low-key, pragmatic and rational” corporate culture management foundation, accelerate its return to the right track of business and create more value for shareholders, investors and society towards a “small but beautiful” and “specialized” development position.
The Group continues to cultivate core cities in the Guangdong-Hong Kong-Macao Greater Bay Area. On December 31, 2023, the total land reserve construction area was about 6 million square meters, and the equity construction area was about 4.54 million square meters.