SECURITIES AND EXCHANGE COMMISSIONSEC FORM 17-A, AS AMENDED

ANNUAL REPORT PURSUANT TO SECTION 17
OF THE SECURITIES REGULATION CODE AND SECTION 141
OF THE CORPORATION CODE OF THE PHILIPPINES

1. For the fiscal year ended

Dec 31, 2022

2. SEC Identification Number

CS200321240

3. BIR Tax Identification No.

227-599-320-000

4. Exact name of issuer as specified in its charter

CEBU LANDMASTERS, INC

5. Province, country or other jurisdiction of incorporation or organization

CEBU CITY, CEBU, PHILIPPINES

6. Industry Classification Code(SEC Use Only)

7. Address of principal office

10TH FLOOR, PARK CENTRALE, B2 L3, JOSE MA. DEL MAR ST., CEBU IT PARK, APAS, CEBU CITY Postal Code 6000

8. Issuer's telephone number, including area code

(032) 2314914

9. Former name or former address, and former fiscal year, if changed since last report

N/A

10. Securities registered pursuant to Sections 8 and 12 of the SRC or Sections 4 and 8 of the RSA

Title of Each Class	Number of Shares of Common Stock Outstanding and Amount of Debt Outstanding
COMMON SHARES	3,465,201,467

11. Are any or all of registrant's securities listed on a Stock Exchange?

Yes

No

If yes, state the name of such stock exchange and the classes of securities listed therein:

PHILIPPINE STOCK EXCHANGE - COMMON SHARES

12. Check whether the issuer:

(a) has filed all reports required to be filed by Section 17 of the SRC and SRC Rule 17.1 thereunder or Section 11 of the RSA and RSA Rule 11(a)-1 thereunder, and Sections 26 and 141 of The Corporation Code of the Philippines during the preceding twelve (12) months (or for such shorter period that the registrant was required to file such reports)

Yes

No

(b) has been subject to such filing requirements for the past ninety (90) days

Yes

No

13. State the aggregate market value of the voting stock held by non-affiliates of the registrant. The aggregate market value shall be computed by reference to the price at which the stock was sold, or the average bid and asked prices of such stock, as of a specified date within sixty (60) days prior to the date of filing. If a determination as to whether a particular person or entity is an affiliate cannot be made without involving unreasonable effort and expense, the aggregate market value of the common stock held by non-affiliates may be calculated on the basis of assumptions reasonable under the circumstances, provided the assumptions are set forth in this Form

9,702,564,107.60

APPLICABLE ONLY TO ISSUERS INVOLVED IN INSOLVENCY SUSPENSION OF PAYMENTS PROCEEDINGS DURING THE PRECEDING FIVE YEARS

14. Check whether the issuer has filed all documents and reports required to be filed by Section 17 of the Code subsequent to the distribution of securities under a plan confirmed by a court or the Commission.

Yes

No

DOCUMENTS INCORPORATED BY REFERENCE

15. If any of the following documents are incorporated by reference, briefly describe them and identify the part of SEC Form 17-A into which the document is incorporated:

(a) Any annual report to security holders

Consolidated Financial Statements as of and for the years ended December 31, 2022

(b) Any information statement filed pursuant to SRC Rule 20

-

(c) Any prospectus filed pursuant to SRC Rule 8.1

-

The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.

Cebu Landmasters, Inc.CLI

PSE Disclosure Form 17-1 - Annual Report References: SRC Rule 17 and
Section 17.2 and 17.8 of the Revised Disclosure Rules

For the fiscal year ended	Dec 31, 2022
Currency	PHP

Balance Sheet

	Year Ending	Previous Year Ending
	Dec 31, 2022	Dec 31, 2021
Current Assets	44,654,777,532	37,002,075,678
Total Assets	85,044,869,024	66,652,105,433
Current Liabilities	27,743,683,313	22,163,706,708
Total Liabilities	64,032,254,131	48,719,923,909
Retained Earnings/(Deficit)	9,013,572,297	6,369,153,604
Stockholders' Equity	21,012,614,892	17,932,181,523
Stockholders' Equity - Parent	13,501,563,154	10,839,874,202
Book Value Per Share	3.9	3.13

Income Statement

	Year Ending	Previous Year Ending
	Dec 31, 2022	Dec 31, 2021
Gross Revenue	15,859,840,756	11,419,399,874
Gross Expense	10,736,568,502	7,922,628,375
Non-Operating Income	14,819,366	7,689,872
Non-Operating Expense	370,487,238	400,870,711
Income/(Loss) Before Tax	4,767,604,382	3,103,590,660
Income Tax Expense	1,159,713,237	432,719,044
Net Income/(Loss) After Tax	3,607,891,145	2,670,871,616
Net Income/(Loss) Attributable to Parent Equity Holder	3,170,887,738	2,612,937,323
Earnings/(Loss) Per Share (Basic)	0.92	0.75
Earnings/(Loss) Per Share (Diluted)	0.92	0.75

Financial Ratios

	Formula	Fiscal Year Ended	Previous Fiscal Year
		Dec 31, 2022	Dec 31, 2021
Liquidity Analysis Ratios:
Current Ratio or Working Capital Ratio	Current Assets / Current Liabilities	1.61	1.67
Quick Ratio	(Current Assets - Inventory - Prepayments) / Current Liabilities	0.77	0.61
Solvency Ratio	Total Assets / Total Liabilities	1.33	1.37
Financial Leverage Ratios
Debt Ratio	Total Debt/Total Assets	0.41	0.48
Debt-to-Equity Ratio	Total Debt/Total Stockholders' Equity	1.9	1.79
Interest Coverage	Earnings Before Interest and Taxes (EBIT) / Interest Charges	3.89	3.42
Asset to Equity Ratio	Total Assets / Total Stockholders' Equity	4.05	3.72
Profitability Ratios
Gross Profit Margin	Sales - Cost of Goods Sold or Cost of Service / Sales	0.47	0.46
Net Profit Margin	Net Profit / Sales	0.23	0.24
Return on Assets	Net Income / Total Assets	0.05	0.05
Return on Equity	Net Income / Total Stockholders' Equity	0.26	0.27
Price/Earnings Ratio	Price Per Share / Earnings Per Common Share	2.83	3.97

Other Relevant Information

The EPS reflected in the Financial statements are in accordance with accounting standards to use the weighted average shares of the period. The weighted average shares in 2022 uses post-stock dividend shares of 3,464,364,100 while pre-stock dividend shares were used in 2021 of 2,507,833,165. This caused the decline in EPS using this method despite the 21% growth in earnings to parent in 2022. There was also no real additional capital infused into the company and every shareholder still earned their proportionate share of net income pre- and post- stock dividends. To reflect the actual performance of the company, EPS may be computed using the current outstanding shares as of December 31, 2022 totaling 3,465,201,467. This will result in an EPS in FY2022 of 0.92 and FY2021 of 0.72 , an increase of 22.67%. The disclosure will be amended to attach the Parent Audited Financial Statements and sustainability report once approved and finalized.