Operator Caijing Chen Jing/Wen
Recently, the parent company of Dongyuan Real Estate, Dima Shares, released its 2023 annual report, which disclosed the company's real estate business. How was the performance last year?
In 2023, the operating revenue of Dima will be 18.301 billion yuan, a year-on-year decrease of 19.69%; The net profit loss attributable to shareholders of the listed company was 3.65 billion yuan, 153 million yuan more than that in 2022.
It was mentioned in the annual report that under the pressure of declining sales and payment collection of real estate business, the company kept its liquidity stable through continuous extension, interest rate reduction and principal before interest. In 2023, the Company's total interest bearing liabilities will be RMB 14.377 billion, down 8.11% year on year. The net cash flow from financing activities will be RMB -2.189 billion. The debt will still be in a net repayment state, and the net operating cash flow will be RMB 1.116 billion.
During the reporting period, the total assets of the company were 56.49 billion yuan, the total liabilities were 48.42 billion yuan, and the asset liability ratio was 85.71%.
In 2023, the sales area and sales amount of new commercial housing of Dima Co., Ltd. in China will be 1.117 billion square meters and 11.66 trillion yuan respectively, 8.5 and 6.5 percentage points lower than that of the previous year.
In terms of regions, the demand of first tier cities is relatively sufficient. The decline of real estate sales in the eastern region is relatively small, with the sales amount falling 5.7% year on year, while the sales amount in the central and northeast regions fell 11.2% and 7.8% year on year respectively.
Due to the pressure of the company's operation, the remuneration of senior executives of Dima also decreased a lot. Among them, the annual salary of President Luo Shaoying decreased from 5.192 million yuan to 3.146 million yuan, the annual salary of Vice President Yi Lin decreased from 2.843 million yuan to 2.373 million yuan, and the salary of Vice President Wang Lei directly decreased from 2.247 million yuan to 606900 yuan.
However, the annual salary of many real estate executives has dropped to more than 1 million yuan. For example, the salary of Rongsheng Development executives has basically dropped from 3 million yuan and 4 million yuan in 2022 to more than 1 million yuan in 2023. Zhu Jiusheng, president of Vanke, reduced his salary directly from 5.829 million yuan in 2022 to 1.189 million yuan in 2023. but Luo Shaoying and Yi Lin, the vice president of Dima, still have an annual salary of 3.146 million and 2.373 million respectively.
It is worth noting that, On May 7, Dima Shares disclosed that its corporate bond "21 Dima 01" failed to repay the principal and interest in full on schedule on the due date. At the same time, the closing price of the company on May 6 was 0.95 yuan/share, which was lower than 1 yuan for the first time, and the company will face the risk of compulsory delisting for trading.
However, on the same day, Dima shares moved out of the rescue. Chongqing Dongyin Holding Group Co., Ltd., the controlling shareholder of Dima shares, announced that it would introduce state-owned capital investment for restructuring. The next day, Dima shares rose by the ceiling, but its closing price was still below 1 yuan.
