China Overseas Hongyang Group (00081) announced annual results. Profit attributable to shareholders of 2.02 billion yuan decreased by 26.94% year-on-year

According to the Zhitong Finance App, China Overseas Hongyang Group (00081) announced final results for the year ended December 31, 2023. The group achieved revenue of 56.408 billion yuan (RMB, same below) during the period, a year-on-year decrease of 1.89%; profit attributable to shareholders of 2.02 billion yuan, a year-on-year decrease of 26.94%; basic profit per share of 64.7 points; and plans to pay a final dividend of 11 HK cents per share.

The announcement stated that in the face of the complex and changing market situation, the Group is making steady progress to promote stability. By continuously improving management scales, we support first-line businesses and seek steady development. During the year, the contract sales volume of the group's series companies was 42,820 billion yuan, an increase of 6.2%; the contract sales area was 3.5324 million square meters, a decrease of 5.2%. Equity contract sales reached 33.556 billion yuan, ranking 30th in the industry, up 10 places from 2022. The average sales price of group homes was about 13,200 yuan per square meter, an increase of 9.7%. At the end of the year, the cumulative unsigned subscription amount was 1,250 million yuan, with a total contract area of 107,400 square meters.

The Group's delivery capacity is leading, giving customers full confidence, and the annual construction scale exceeds 19 million square meters. The number of packages entered was approximately 46,500, and the delivery satisfaction rate was 91%, ranking among the highest in the industry. The quality delivery of the project was guaranteed during the industry adjustment period, won the trust and recognition of customers, and the brand advantage was further highlighted.