editor 
On the evening of April 26, Dayue City released its 2023 annual report. According to the report, Dayue City achieved contracted sales of 46.1 billion yuan in 2023, rising 4 places over the previous year in the ranking of Chinese real estate enterprises in the Middle Index Research Institute; comprehensive gross profit margin 26Nbajamcountercade.47%, up 2.41% from 24.06% in the same period last year; realized net profit of 121 million yuan, an increase of 2.344 billion yuan over the same period last year, turning losses into profits; and returning home net profit of-1.465 billion yuan, reducing losses by 49.17% over the same period last year.
A steady increase in profitability
In 2023, Dayue City continued to optimize its financial indicators by adhering to a sound financial management strategy and giving full play to its low-cost and multi-channel financing advantages.
During the reporting period, the net cash flow of operating activities was 10.642 billion yuan, an increase of 292.61% over the same period last year, and the operating cash flow was good. In terms of fund management, Dayue City strengthens the centralized management of funds, balances the liquidity and risk control of funds, actively broadens financing channels, reduces financing costs, and improves debt repayment ability. These measures effectively ensure the safety of the company's cash flow and provide a solid guarantee for the company's sound financial development.
In 2023, the financing channels of Dayue City are diversified and smooth, and the financing cost remains low in the industry. According to the financial report, in 2023, the average new borrowing cost of Dayue City was 3.72%, and the annual average financing cost was 4.61%, down 0.21 percentage points from 2022. It is worth noting that during the reporting period, Dayue City and its holding subsidiaries issued corporate bonds totaling 3 billion yuan, and the debt structure continued to be optimized.
Thanks to good financial and credit performance, China Integrity International Credit rating Co., Ltd. and China Securities Pengyuan Credit Evaluation Co., Ltd. maintained the company's AAA main credit rating during the reporting period.
The development business remains resilient
According to the financial report, in 2023, Dayue City achieved contracted sales of 46.1 billion yuan, down 19% from the same period last year, but against the background of a 35% year-on-year decline in the annual sales of TOP50 real estate enterprises across the country. At the same time, the sales ranking of Dayue City has also improved significantly, and the ranking of Chinese real estate enterprises in the Middle Index Research Institute has risen 4 places over the previous year.
In 2023, Dayue City continues to improve its product strength and brand strength, and the hot sales of many projects have further consolidated the basic plate of Dayue City's development business, which has not only brought stable sales income and cash flow for Dayue City, but also consolidated its position in various regional markets.
In 2023, on the basis of consolidating the existing residential and commercial advantages, Dayue City continues to expand the business territory of shopping malls, office buildings and industrial real estate, hotels, long-rent apartments and other business through the development strategy of "giving priority to both important and important". Enhance the stability of development.
In terms of shopping centers, in 2023, the sales volume of the company's shopping centers was 34.7 billion yuan, an increase of 37% over the same period last year; the number of passengers exceeded 300 million, an increase of 66% over the same period last year; and the average rental rate was 95%. During the year, a total of 5 shopping malls in Dayue City successfully opened. So far, there are 45 commercial projects in Dayue City (30 assets + 15 assets), and substantial progress has been made in the strategy.
Office and industrial real estate, rental rate, revenue stability, of which the overall office rental rate reached 91.27% during the reporting period. In terms of hotel business and long-term rental apartment business, annual operating income and net profit reached record highs respectively.
The development model of multi-industry coordination has further enhanced the anti-risk ability of Dayue City and significantly improved the overall profitability of the company. During the reporting period, Dayue City investment property and related services achieved business income of 5.393 billion yuan, an increase of 24.35% over the same period last year, with a gross profit margin of 61.24%, an increase of 8.29% over the same period last year; hotel revenue of 970 million yuan, an increase of 75.14% over the same period last year, and a gross profit margin of 35.27%, up 21.06% over the same period last year.
(article sourceNbajamcountercadeChina Securities News, China Securities Network)