Gelonghui, March 19, 丨 Shangshi Urban Development (00563.HK) announced that for the year ended December 31, 2023, the Group's revenue was HK$7.95 billion; profit attributable to shareholders was approximately HK$495 million, up 21.6% year on year; basic profit per share was HK10.32 cents (2022: HK8.47 HK cents). At the end of the reporting period, the company's directors have proposed to pay a final dividend of 2.1 HK cents per common share and a special dividend of HK 0.8 cents per common share for the year ended 31 December 2023, respectively, subject to approval by shareholders at the current shareholders' meeting.
In 2023, in the face of adjustment pressure in the real estate market and the urgent need to restore consumer confidence, the Group actively adapted to changes in the market environment, overcame the impact of the macro environment with forward-looking strategic layout, keen market insight and excellent execution, adjusted the pace of project development and launch, and seized market opportunities to complete the delivery of more high-end projects in the second half of the year, achieving resilient growth in annual performance. The Group's flagship and key projects Xi'an Nature, Tianjin Shangshi Yangshan, Shanghai ShangshiWanghai and Shangshi Cloud continued to maintain strong sales, bringing stable revenue and profit to Shangshi Chengkai.
During the year, the Group continued to cultivate with Shanghai as the center, radiate the in-depth layout of core first- and second-tier cities, look for opportunities to increase high-quality land reserves, implement the combined rental and sale policy, continue to develop the investment property business, and further promote diversified planning and development.
For the year ended 31 December 2023, the Group's contract sales amount for commercial housing and guaranteed housing was RMB 8,228,570,000, an increase of 4% over the previous year. The total contract sales area was 270,000 square meters, and the total average sales price increased by 94.4% to about RMB 30,500 per square meter, mainly due to the high proportion of commercial housing sold during the year.
As of December 31, 2023, the Group has 28 land reserves, distributed in 10 key mainland cities, including Shanghai, Beijing, Tianjin, Xi'an, Chongqing, Wuxi, Shenyang, Yantai, Shenzhen and Wuhan. Most of them are medium- and high-end residential and commercial properties that are built and under construction. The planned construction area for future sales is about 3,482,000 square meters, which is enough for the next 3 to 5 years.
In 2023, against the backdrop of continuous integration and adjustment of the real estate market, the volume of transactions in the national land market declined year on year. Most housing enterprises remained cautious in their land investment strategies, focusing on high-quality land plots in Tier 1 and 2 cities. The Group adheres to a prudent and open attitude, continues to adhere to the strategy of deepening the Shanghai metropolitan area and other core first- and second-tier cities. While ensuring sufficient land development reserves, the Group focuses on opportunities to expand high-quality land reserve projects according to development needs and the progress of market recovery.