Joy City Real Estate (00207) announced its annual results for the year ended December 31, 2023, and the group completed operations during the period...
According to the Zhitong Finance App, Joy City Real Estate (00207) announced its annual results for the year ended December 31, 2023. The group achieved operating income of 13.272 billion yuan (RMB, same below), a year-on-year decrease of 36.3%; profit attributable to company owners of 340 million yuan, a year-on-year decrease of 35.94%; basic profit of 2.2 cents per share; proposed to pay a final dividend of HK$0.72 per share and a special dividend of HK0.72 per share.
During the year, the Group's property development business revenue was 7.705 billion yuan, down 53.3% from the previous year's 16.484 billion yuan. The settlement area of the delivered property was 4254,000 square meters, down about 40.7% from the previous year. The settlement unit price was 17,217 yuan/square meter, down about 25.0% from the previous year. Due to changes in the delivery product structure, the settlement gross profit margin of the property development business this year was 24%, an increase of 2 percentage points over the previous year. Affected by the decline in the real estate market, the Group's contract sales amount during the year was about 18.086 billion yuan, a year-on-year decrease of 36.7%. The contract sales area was 724,600 square meters, a year-on-year decrease of 9.5%. The average sales unit price was 24,959 yuan/square meter, a year-on-year decrease of 30.0%.
The consumer market and physical commercial traffic recovered steadily. The total revenue from investment property rents and related services was about $4.359 billion, up 24.8% from the previous year's $3.493 billion, and the gross profit margin of the investment property business was 77.1%, up 2.6 percentage points from 74.5% last year. Shopping centers, office buildings and others accounted for 83%, 12%, and 5% of revenue, respectively. The Group's shopping center business achieved sales of about 33 billion yuan, an increase of 33% over the previous year, and rental revenue of 2,998 billion yuan, an increase of 38.9% over the previous year. The office business insists on being customer-centered and continues to build a closed loop of office ecology. During the year, rental income was about 513 million yuan, an increase of 1.4% over the previous year.
In 2023, the hotel business achieved revenue of about 970 million yuan, an increase of 75.1% over the previous year. The average hotel occupancy rate was 75%, an increase of 25 percentage points over the previous year.