According to the consolidated financial statements of Century Land Joint Stock Company (HoSE: CRE), revenue in 2022 decreased by 39% to VND 3,490 billion, profit before tax recorded at VND 247 billion and profit after tax was VND 198 billion. According to the representative of Cen Land, due to the policy of tightening credit and controlling corporate bonds, the real estate market has been continuously affected since the second quarter of 2022. At the peak in the fourth quarter of 2022, the liquidity of the real estate market dropped sharply. Cen Land's revenue in the fourth quarter of 2022 was VND 279 billion, equaling 26% over the same period. In which, net revenue from brokerage and service provision reached over VND 174 billion. Profit was VND -58 billion.

Cen Land's core business in 2022, brokerage, still achieved more than VND 1,400 billion in revenue in the context of a serious decline in the liquidity of the real estate market.

Cen Land assesses that in 2023 the market will develop on a more limited scale at the slower speed and it opens opportunities for real estate products that meet the real demand.

Revenue from secondary investment reached VND 2,075 billion, approximately 50% over the previous year. The market is in trouble, therefore some secondary projects can not be sold in time. Predicting the unfavorable real estate market, the company does not promote secondary investment in the last 6 months of the year.

Facing the above-mentioned challenges, CRE has adjusted its business strategy, flexibly adapt to changes in the market, and minimize risks. In 2022, the company recorded positive profits, financial indicators were at safe levels, successfully issued 262 million shares for bonus and public offering to shareholders. The charter capital increased to VND 4,636 billion.

As of December 31, 2022, Cen Land's total assets increased by 22%, reaching VND 7,667 billion. After the charter capital increase to VND 4,636 billion in 2022, CRE's equity rose sharply by 63% to about VND 5,620 billion. Total liabilities of Cen Land plummeted 28%, to only VND 2,047 billion. The debt-to-equity ratio is only 0.36 and total assets is only 0.27. This is quite low compared to other real estate firms.

In 2022, Cen Land marks an important milestone and celebrates its 20th anniversary. As the leader in the real estate brokerage market, Cen Land dominates the market share, cooperation and project development with major investors.

Cen Land's real estate service ecosystem is diverse, including many member companies and branches nationwide. The company invests in technology to perfect and improve the real estate brokerage.

According to the representative of Cen Land, in 2023, the real estate market faces many challenges and difficulties. In this screening phase of the market, Cen Land will adapt and make new breakthroughs thanks to 20-year experience in the real estate market.