Gelonghui, March 28, 丨 Kaishaoye Group (01638.HK) announced that revenue for the year ended December 31, 2023 increased by 3.0% compared to 2022 to approximately RMB 26.159 billion. The annual loss increased by 51.4% compared to 2022 to approximately RMB 19.702 billion. For the year ended 31 December 2023, the Group's contract sales with its joint ventures and associated companies decreased by 4.9% to approximately RMB 17,836 million. No final dividend was declared for the year ended 31 December 2023.
The Group comprehensively measures the Group's development, land market supply and its own inventory situation, and carefully replenishes land reserves throughout the country. The Group continues to search for project resources in regions where China's economy is booming through cooperative development, mergers and acquisitions, tenders, and urban renewal.
On December 31, 2023, the Group, together with its joint ventures and associated companies, had a total land reserve of about 23.83 million square meters, of which about 58% of the land reserves were located in the Guangdong-Hong Kong-Macao Greater Bay Area. The existing land reserves are sufficient to meet the Group's development needs over the next five years.