Our reporter Li Wenshan Xueju reporter Liu Xiaoyi

　　March 20,The 2023 annual performance conference and investor exchange meeting, the chairman Jiang Tiefeng, the managing director Zhu Wenkai, and Huang Junlong, the chief financial officer and secretary of the board of directors.

　　Jiang Tiefeng to “According to media such as Daily, in 2023, the state’s transformation of three major engineering (affordable housing construction, “emergency two -purpose” public infrastructure construction, and urban village reconstruction) as the starting point.Effective.The market is expected to continue to decline in limited downstream, and the real estate market is still a large market with annual sales of 10 trillion yuan.”In 2024, we believe that the central government will continue to make efforts to further optimize policies, cancel some restricted measures, and promote the three majorTo meet the reasonable financing needs of real estate companies.Industry, markets and enterprises will also continue to differentiate, and high -quality products in core cities and core areas have better development opportunities.”

　　The sales scale is among the top five in the industry

　　In 2023, in the context of continuous reshuffle and pressure in the real estate industry, performance is still stable.The annual report of 2023 shows that the company achieved revenue of 1750.08 billion yuan throughout the year, a decrease of 4.37%year -on -year, and the net profit attributable to the mother was 6.319 billion yuan, an increase of 48%year -on -year.

　　The main business is three types of businesses: development business, asset operation, and urban services.The development and sales (development business) of residential -oriented commercial housing supported the company’s main revenue.In 2023, under the general decline in sales of heads in heads, China Merchants Shekou Development Business achieved adversity growth.A total of 12.2341 million square meters were achieved throughout the year, an increase of 2.49%year -on -year; the cumulative signing sales amount was 293.635 billion yuan, an increase of 0.35%year -on -year, and the sales scale ranked among the top five in the industry.

　　”Development business is an important guarantee for the company’s scale profits and the foundation of continuous transformation.” Jiang Tiefeng said that in the context of the continuous adjustment of the industry, the choice of cities is very important. Focusing on core cities has become a common strategy of housing companies.

　　Jiang Tiefeng further introduced that China Merchants Shekou has formulated a preferred research system for the city, adhered to the strategy of “regional focusing, urban deep cultivation”, implemented the “five good” standards for the project, and resource resource investment focuses on strong cities.

　　In 2023, the company’s “Qiangxin 30 City” signed sales accounted for 91%, of which the core “6+10 cities” accounted for 77%.In the “Qiangxin 30 City” and “Core 6+10 City” investment amount accounted for 99%and 88%, respectively, of which 51%of the company’s investment in the company’s total investment in North, Shang, Guang, and Shenzhen.Eur with 4.6 billion yuan, and has obtained 9 high -quality land in Shanghai, 6 Hangzhou, 5 in Beijing, 5 in Beijing, and Xi’an.The company’s 2023 projects in 2023 realized the opening of the land that year, and contributed a sales amount of about 34 billion yuan to the reporting period.

　　Jiang Tiefeng said that in 2024, the company will further focus on the core, advance and retreat, and use the risks of sales and strictly controlling cooperation, and increase the equity ratio.From deep cultivation core “6+10 cities” to further focusing on the core “10 cities”.

　　Although the company’s real estate sales in 2023 increased against the trend, the adjustment period still needs to be vigilant.Directors Zhu Wenkai said that the company’s sales from January to February this year declined year -on -year. For whether sales in 2024, it was still observed.”From the perspective of the company, I hope that the entire sales strategy can stabilize, because before the entire market has not improved, cash flow and operating cash flow are the key, so we are cautious. But overall, we believe that the real estate marketLong -term basic demand still exists, but the industry has experienced structural conversion, and gradually shifted from the previous high -speed expansion stage to the stability of contraction and stability. “

　　In this regard, Jiang Tiefeng added that under the guidance of various policies in the central government, the current in -depth adjustment of real estate is expected to be gradually resolved within 2 to 3 years, and then real estate will enter a relatively stable and sustainable long -term development stage.

　　Concentrated commercial, long -term rental apartments and industrial parks are the focus

　　With the fundamental changes in the development of the industry, China Merchants Shekou also started to cultivate a “second curve” that focuses on non -development business such as asset operations and urban services.

　　In 2023, the company’s development business accounted for 87.97%, a year -on -year decrease of 7.01%, asset operations accounted for 3.39%, an increase of 40.58%year -on -year, and urban services accounted for 8.64%, an increase of 14.37%year -on -year. The second curve advantage gradually appeared.

　　In terms of asset operation, in 2023, the full -caliber asset operating income of China Merchants Shekou was 6.691 billion yuan, and the EBITDA (tax depreciation and amortization profit) was 3.3 billion yuan.Its asset operation business includes centralized commercial, industrial parks, office buildings, apartment hotels and other property operations and asset management; urban service sectors include property management, cruise ships, exhibitions, agency construction and other businesses.

　　Jiang Tiefeng said that centralized commercial, long -term rental apartments and industrial parks will be the focus of this year.He emphasized that the core of asset operation is to improve profitability.”To change your mind, change from making fast money in the past, make a lot of money to make slow money, and earn long -lasting and sustainable money.”

　　Specifically, in 2023, the concentrated commercial revenue was 1.448 billion yuan, and EBITDA was 533 million yuan.In the future, in terms of competitive concentrated commerce, the company will continue to develop from adapting to the market, accurate scientific research and market positioning, differentiated IP, refined management and innovative business.

　　It is worth mentioning that the 2023 annual report shows that China Merchants Shekou intends to distribute a cash dividend of 3.2 yuan (including tax) per 10 shares, and the cash dividend ratio is further increased to 45.88%.Since the reorganization of the reorganization at the end of 2015, a total of 37.247 billion yuan has been accumulated.

　　Huang Junlong, the chief financial officer and secretary of the board of directors, said that in the next three years of the shareholders’ return plan, the company promised that cash dividends accounted for not less than 40%of the net profit attributable to shareholders of listed companies.The premise of all this is the company’s continuous growth performance.”For this reason, the first is to practice the company’s internal skills, do business management, and continue to improve quality and efficiency.”

　　At the same time, Huang Junlong said that the company has no share repurchase plan for the time being. Because it has just been issued not long ago, from the perspective of the overall value improvement of the company, it is more beneficial to put cash into operations or use it for repurchase.