FINANCIAL REVIEW GROSS REVENUE In RMB terms, gross revenue in FY 2023 increased by RMB61.0 million, 3.3% higher than FY 2022 while Net Property Income (NPI) for FY 2023 increased by RMB65.3 million, 5.3% higher than FY 2022. NPI in RMB terms was boosted by stronger performance in retail portfolio on improved operating conditions as well as post-asset enhancement initiatives. This was offset by lower contributions from CapitaMall Xinnan due to on-going repositioning and tenancy adjustments, CapitaMall Qibaoi and CapitaMall Shuangjingii, as well as lower contributions from the business park and logistics park assets. Gross Revenue by Property FY 2023 S$'000 FY 2022 S$'000 % Change FY 2023 RMB'000 FY 2022 RMB'000 % Change Retail CapitaMall Xizhimen 57,432 57,964 (0.9) 301,127 280,086 7.5 Rock Square 44,144 44,245 (0.2) 231,461 213,794 8.3 CapitaMall Wangjing 40,771 38,057 7.1 213,776 183,894 16.2 CapitaMall Grand Canyon 17,294 16,974 1.9 90,679 82,023 10.6 CapitaMall Xuefu 33,462 29,245 14.4 175,453 141,313 24.2 CapitaMall Xinnan 13,174 17,691 (25.5) 69,077 85,485 (19.2) CapitaMall Nuohemule 18,436 14,036 31.3 96,664 67,826 42.5 CapitaMall Yuhuating 15,687 15,589 0.6 82,250 75,327 9.2 CapitaMall Aidemengdun 7,811 6,994 11.7 40,954 33,795 21.2 CapitaMall Qibaoi 1,090 10,266 (89.4) 5,713 49,604 (88.5) CapitaMall Shuangjingii 5,525 9,244 (40.2) 28,968 44,671 (35.2) Total Gross Revenue For Retail 254,826 260,305 (2.1) 1,336,122 1,257,818 6.2 Business Parks Ascendas Xinsu Portfolio 43,234 46,467 (7.0) 226,690 224,534 1.0 Ascendas Innovation Towers 15,097 16,355 (7.7) 79,157 79,027 0.2 Ascendas Innovation Hub 6,592 6,969 (5.4) 34,562 33,676 2.6 Singapore-Hangzhou Science & Technology Park (Phase I) 12,824 16,444 (22.0) 67,240 79,461 (15.4) Singapore-Hangzhou Science & Technology Park (Phase II) 16,031 18,860 (15.0) 84,055 91,131 (7.8) Total Gross Revenue For Business Park 93,778 105,095 (10.8) 491,704 507,829 (3.2) Logistics Parks Shanghai Fengxian Logistics Park 4,993 5,121 (2.5) 26,185 24,747 5.8 Kunshan Bacheng Logistics Park 3,674 3,926 (6.4) 19,262 18,968 1.5 Wuhan Yangluo Logistics Park 4,270 4,614 (7.5) 22,390 22,293 0.4 Chengdu Shuangliu Logistics Park 3,205 4,110 (22.0) 16,805 19,861 (15.4) Total Gross Revenue For Logistics Park 16,142 17,771 (9.2) 84,642 85,869 (1.4) Total Gross Revenue 364,746 383,171 (4.8) 1,912,468 1,851,516 3.3 i CapitaMall Qibao has ceased operations since the end of March 2023. ii CapitaMall Shuangjing is classified under held for sale as at 31 December 2023 following the announcement of divestment on 6 December 2023. The completion of divestment was announced on 23 January 2024. ANNUAL REPORT 2023 43 Financials Framework Portfolio Performance Leadership Overview
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