Dexin China (02019) announced results for the year ended December 31, 2023. The group achieved revenue during the period...
According to the Zhitong Finance App, Dexin China (02019) announced the results for the year ended December 31, 2023. The group achieved revenue of 24.51 billion yuan (RMB, same below) during the period, an increase of 10.68% over the previous year; losses attributable to company owners amounted to RMB 2,189 billion, compared with profit attributable to company owners of RMB 374 million; basic loss per share.
According to the announcement, the related increase in revenue was mainly due to an increase in property sales revenue. Specifically, property sales revenue was about $23.976 billion, an increase of about 12.9%, accounting for about 97.8% of the Group's total revenue; revenue from property construction and project management services was about $246 million, a year-on-year decrease of about 57.4%, accounting for about 1.0% of the Group's total revenue; revenue from management and consulting services was about $142 million, a year-on-year decrease of about 14.2%, accounting for about 0.6% of the Group's total revenue; and revenue from hotel operations was about 0.4% of the Group's total revenue; and revenue from hotel operations was about 54.1 million yuan, a year-on-year decrease of about 0.6%, accounting for about 0.2% of the Group's total revenue.
For the year ended 31 December 2023, the Group has confirmed a total construction area of about 1,323 million square meters, an increase of about 24.3% over the year ended 31 December 2022. The average selling price of a property confirmed as a property was about 18,159 yuan per square meter, a year-on-year decrease of about 9.2%. The decline in average sales prices is mainly due to confirmed increases in floor space in regions with lower average sales prices.
The Group (along with its joint ventures and joint ventures) has a land reserve of about 10.11 million square meters. Of these, 113 projects are located in the Yangtze River Delta region, and the remaining 21 projects are located in the Pearl River Delta, Chengyu Shuangcheng Economic Zone, and the Middle Yangtze River Economic Belt.