According to the Zhitong Finance App, SOHO China (00410) announced the results for the year ended December 31, 2023. The group achieved operating income of 1,679 billion yuan (RMB, same below) during the period, a year-on-year decrease of 5.44%; shareholders' losses of 180 million yuan; profit attributable to shareholders of 61.208 million yuan in the same period last year, a year-on-year profit of 61.208 million yuan, a year-on-year profit of loss; a basic loss of 0.03 yuan per share.
The announcement said that due to the weak macroeconomic environment, the office and commercial property leasing market continued to be under pressure, and the Group's revenue declined year-on-year.
The Group continues to implement effective cost control measures during the year. This year's sales expenses were approximately RMB 33 million, and in 2022 it was approximately RMB 50 million. This year's administrative expenses were about 136 million yuan, and in 2022 it was about 181 million yuan. Faced with an unfavorable situation where rents and occupancy rates were falling, the Group promptly adjusted its strategy to prioritize guaranteed occupancy rates and stabilized the occupancy rate at 78% by the end of the year.