Summary by Futu AI
HUA RUN ANNOUNCED 2023 ANNUAL RESULTS WITH SALES OF RMB2511.4 BILLION, AN INCREASE OF 21.3% YEAR-ON-YEAR. Turnover of the development sales-type business was RMB2120.8 million, up 20.4% year-on-year; operating real estate business revenue was RMB22.3 billion, up 30.6% year-on-year. The combined gross margin was 25.2%, of which the gross margin of the development sales-type business was 20.7% and the operating real estate business gross margin was 69.6%. It is proposed to declare a final dividend of RMB1,243 per share, with an increase of 2.9% for the full year. Shareholders' profit was RMB313.7 billion, up 11.7% year-on-year; core net profit was RMB277.7 billion, up 2.9% year-on-year. The ratio of net interest-bearing debt decreased to 32.6% and weighted average debt financing costs decreased to 3.56%. Property signed sales amounted to RMB3070.3 billion, up 1.9% year-on-year. The new land storage capacity building area is 1,325 million square meters, and the total land reserve is approximately 6,250 million square meters.