午后突变！002724，地天板 今日，A股先是震荡调整，午后临近收盘发力上扬，上证指数、深证成指、创业板指均微幅飘红， 中证1000、中证500则收出长下影线小阴线。 下跌个股远超上涨个股，成交萎缩至1.47万亿元，创阶段性新低。 热点方面，海洋王（002724）午后直线涨停，上演"地天板"。 盘面上，旅游、有色金属、家电、酒店餐饮等板块涨幅居前，农林牧渔、教育培训、微盘股、装修 装饰等板块跌幅居前。 实时监测数据显示，电子、基础化工、有色金属3行业均获得主力资金超20亿元净流入，银行、社会 服务、通信都获得超10亿元净流入。计算机主力资金则净流出逾55亿元，汽车净流出逾22亿元，国防军 工净流出逾14亿元。 展望后市，国盛证券指出，后续需要重点关注的是经济数据能否出现多维度的超预期改善，而这可 能需要到4月才有所决断。技术面上，2024年12月高点的阻力位重要性再次得到印证，指数未能突破、缩 量调整，短期需要观察下方支撑力度，重要观察位置为春节后DeepSeek行情的起点，建议适当控制仓 位。 华泰证券称，A股自1月下旬起的反弹中，资金参与程度渐深，整体浮盈可观，AI及机器人等主线方 向浮盈较厚，阶段性止盈 ...

Financial Performance - For the first half of 2024, the company recorded a profit of RMB 183 million, with a profit attributable to shareholders of RMB 72 million, reflecting a significant decline in net profit year-on-year due to insufficient new residential project completions [4]. - The group reported a profit of RMB 183 million for the first half of 2024, with a net profit attributable to shareholders of RMB 72 million, despite a significant year-on-year decline [15]. - The net profit attributable to shareholders for H1 2024 was RMB 72 million, a decrease of 88% from RMB 618 million in H1 2023 [60]. - The company reported a core profit of RMB 108 million in H1 2024, an 85% decrease from RMB 698 million in H1 2023 [60]. - Revenue for the six months ended June 30, 2024, was RMB 2,073 million, a decrease of 67.7% compared to RMB 6,431 million for the same period in 2023 [73]. - Property sales revenue for the six months ended June 30, 2024, was RMB 143 million, a significant decrease from RMB 4,662 million for the same period in 2023, representing a decline of approximately 96.9% [87]. - The group’s net profit for the period was RMB 183 million, compared to RMB 282 million in the same period of 2023, representing a decline of about 35.1% [90]. Market Conditions - The national residential sales area in the first half of 2024 decreased by 22.2% compared to 2023 and by 49.3% compared to 2021, indicating a significant downturn in the real estate market [5]. - The company maintains a cautious outlook on short-term business prospects due to overall liquidity constraints in the real estate sector [16]. - Real estate investment in China declined by approximately 10% in both 2022 and 2023, with a further drop of 10.1% in the first half of 2024 [52]. - China's GDP growth slowed from 5.3% in Q1 2024 to 4.7% in Q2 2024, with industrial production and exports increasing by 3.6% and 6.0% respectively [52]. Property Development and Sales - The total contract property sales for the first half of 2024 amounted to RMB 623 million, representing an 86% decrease compared to RMB 4,564 million in the same period of 2023 [24]. - The company has secured total sales of RMB 7.818 billion, which will be delivered and recognized in the second half of 2024 and beyond [18]. - The company has approximately 240,100 square meters of residential property available for sale and pre-sale in the second half of 2024 and beyond [27]. - The company plans to launch more projects in the second half of 2024, primarily in Shanghai, depending on construction progress and government pre-sale approvals [24]. - The average selling price (excluding parking spaces) for confirmed property sales in the first half of 2024 was RMB 14,600 per square meter [21]. Rental and Income Performance - The group's rental and related income increased by 16% to RMB 1.764 billion in the first half of 2024, despite a challenging real estate market [15]. - Rental and related income for the commercial property portfolio increased by 16% year-on-year to RMB 1.764 billion, with 77% of this income coming from properties in Shanghai [18]. - Rental and related income from investment properties increased by 11% to RMB 1.257 billion in the first half of 2024, up from RMB 1.131 billion in the same period of 2023 [55]. - The rental income from the newly opened Panlong Tiandi contributed significantly to the overall growth, with a 176% increase in rental income from this property [40]. Debt and Financial Management - The group repaid a total of RMB 40.6 billion in offshore debt since 2021, including USD 493.5 million in senior notes due on August 24, 2024 [11]. - The group had cash and bank deposits totaling RMB 105.43 billion, an increase from RMB 89.17 billion as of December 31, 2023 [63]. - The total debt structure of the group amounted to RMB 33.583 billion, with RMB 11.934 billion due within one year [63]. - The average cost of debt decreased to 5.98% in H1 2024 from 6.55% in H1 2023 [57]. Sustainability and Corporate Governance - All operational properties of Shanghai Xintiandi have transitioned to 100% renewable energy usage since July 1, 2024, marking a significant milestone in sustainability [9]. - The company has been recognized for its sustainable development efforts, winning the Climate Leadership Award from the Carbon Disclosure Project [16]. - The company has maintained its liability classification as current and non-current post the adoption of revised accounting standards, indicating no impact on financial position or performance [85]. - The company has complied with the Corporate Governance Code and all applicable code provisions during the six months ended June 30, 2024 [138]. Shareholder Information - The total number of shares issued by the company as of June 30, 2024, is 8,027,265,324 shares [127]. - The board consists of 11 members, including 4 executive directors and 7 independent non-executive directors, ensuring a balance of gender, skills, experience, and perspectives [140]. - The company did not recommend the distribution of an interim dividend for 2024, compared to an interim dividend of HKD 0.032 per share in the first half of 2023 [4].

Financial Performance - In the first half of 2024, the company recorded a profit of RMB 183 million, with a significant year-on-year decline of 80% due to insufficient new residential project completions affecting property sales [2]. - Total revenue for the first half of 2024 was RMB 2.073 billion, down 68% year-on-year, reflecting the challenging market conditions [3]. - The net profit decreased primarily due to a decline in the completion volume of residential projects during the period [6]. - The net profit attributable to shareholders for the first half of 2024 was RMB 72 million, a decrease of 88% compared to RMB 618 million in the same period of 2023 [45]. - Earnings per share for the first half of 2024 were RMB 0.09, compared to RMB 0.77 in the same period of 2023 [43]. - The group reported a profit before tax of RMB 282 million for the first half of 2024, down from RMB 1,870 million in the same period of 2023, a decrease of 85% [68]. - Gross profit for the first half of 2024 fell by 54% to RMB 1.355 billion, while the gross profit margin increased to 65% from 46% in the first half of 2023 due to a higher contribution from property investments [40]. Property Sales and Revenue - Contracted property sales dropped to RMB 623 million, a decrease of 86% compared to the same period last year [3]. - The group recorded property sales revenue of RMB 1.43 billion, with total property sales amounting to RMB 16.91 billion, including joint ventures and associates [5]. - The total confirmed property sales for the first half of 2024 amounted to RMB 16.91 billion, with an average selling price of RMB 14,600 per square meter [6]. - Property sales in the first half of 2024 amounted to RMB 143 million, a significant drop from RMB 4.662 billion in the same period of 2023, with RMB 135 million coming from the Panlong Tiandi project [40]. Rental Income and Commercial Properties - Rental and related income increased to RMB 1.764 billion, representing a 16% year-on-year growth, driven by the successful opening of two new commercial properties [3]. - The recurring rental income from the commercial property portfolio increased by 16% year-on-year to RMB 1.764 billion, with 77% of this income derived from properties in Shanghai [5]. - The rental income from the newly opened Panlong Tiandi contributed significantly to the revenue growth, with a reported increase of 176% in rental income from this property [23]. - The total rental and related income, including contributions from joint ventures and associates, grew by 16% year-on-year to RMB 1.764 billion, with 77% of this income derived from properties in Shanghai [22]. Debt and Financial Position - The company has repaid a total of RMB 40.6 billion in offshore debt since 2021, including USD 493.5 million in senior notes due on August 24, 2024 [2]. - The net asset liability ratio slightly increased to 53% as of June 30, 2024, compared to 52% at the end of 2023 [3]. - The group’s net debt as of June 30, 2024, was RMB 23.04 billion, with a net asset liability ratio of 53% [49]. - Cash and bank deposits rose by 18% to RMB 10.543 billion, indicating improved liquidity [3]. Market Conditions and Outlook - The company maintains a cautious outlook on short-term business prospects due to ongoing liquidity challenges in the real estate sector [2]. - Real estate investment in China declined by 10.1% in the first half of 2024, with housing sales showing initial signs of stabilization [85]. - The central government aims for a 5% economic growth target for the year, with plans for more proactive counter-cyclical policies to support household consumption and stabilize the real estate market [87]. Development Projects and Future Plans - The group plans to launch more projects in the second half of 2024, primarily in Shanghai, to address the decline in contract property sales, which fell by 86% year-on-year to RMB 623 million [8]. - The company has approximately 240,100 square meters of residential property available for sale and pre-sale in the second half of 2024, covering seven projects [11]. - The Shanghai Taipingqiao Project (No. 122) has a total construction area of 87,000 square meters, with a planned launch in the second half of 2024, and the company holds a 50% interest [14]. Corporate Governance and Compliance - The company has adopted the Corporate Governance Code and has complied with all applicable provisions, except for the absence of an independent non-executive director at the annual general meeting [89]. - The audit and risk committee reviewed the unaudited condensed consolidated financial statements for the six months ending June 30, 2024, with no objections to the accounting treatment adopted [89]. - The company confirmed that all directors complied with the standards set out in the Securities Trading Code during the six months ending June 30, 2024 [90]. Employee and Operational Metrics - As of June 30, 2024, the company employed 2,982 staff, a decrease from 3,054 as of December 31, 2023, including 1,517 in property management [91]. - Total employee benefits expenses amounted to RMB 452 million, down 22.6% from RMB 584 million in the previous year [72].

Shui On Land (00272) H1 2024 Earnings Call August 29, 2024 08:00 PM ET Speaker0 Good evening, ladies and gentlemen. We're sorry that there was some, technical issue a bit earlier, so we are restarting again. Welcome again to Xiongn Land's twenty twenty four Interim Results Analyst Briefing. And thank you very much for having the patience and joining us this evening. We are pleased to have five members of the senior management team with us today. Mr. Vincent Lo, our Chairman Ms. Stephanie Lo, our Vice Chairm ...

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 9,752 million, a decrease of 37% from RMB 15,565 million in 2022[6] - Gross profit for 2023 was RMB 5,045 million, down 24% from RMB 6,649 million in 2022, resulting in a gross margin of 52%[6] - The company's attributable profit for the year was RMB 810 million, a decline of 10% compared to RMB 906 million in 2022[6] - The company recorded a net profit of RMB 1.397 billion, with attributable profit to shareholders amounting to RMB 810 million[23] - The total property sales confirmed during the year reached RMB 38.565 billion, a significant increase from RMB 12.972 billion in 2022[23] - The total recognized property sales for the group in 2023 was RMB 5.898 billion, compared to RMB 11.695 billion in 2022[112] - The total contracted property sales for 2023 amounted to RMB 11.396 billion, a decrease of 58% from RMB 27.219 billion in 2022, with residential property sales accounting for 63% of the total[112] - The annual profit for 2023 was RMB 1.397 billion, down from RMB 1.475 billion in 2022, with attributable profit to shareholders at RMB 810 million, a decrease of 11%[171] Assets and Liabilities - Total assets as of December 31, 2023, were RMB 100,998 million, a decrease from RMB 104,878 million in 2022[7] - The net debt-to-equity ratio increased to 52% in 2023 from 45% in 2022[7] - The company held cash and bank balances of RMB 8,917 million, down from RMB 13,368 million in 2022[7] - The company’s debt-to-asset ratio remained stable at 52% as of December 31, 2023, with total cash and bank deposits amounting to RMB 8.917 billion[23] - The net debt as of December 31, 2023, was RMB 23.016 billion, an increase from RMB 20.144 billion in 2022, with a net asset liability ratio of 52%[176] - The group had pledged assets totaling RMB 42.30 billion as of December 31, 2023, up from RMB 35.54 billion in 2022, to secure borrowings of RMB 16.21 billion, an increase from RMB 10.66 billion in the previous year[179] Dividends and Shareholder Returns - The company plans to distribute a final dividend of HKD 0.058 per share, down from HKD 0.064 in 2022[6] - The company proposed a final dividend of HKD 0.058 per share for 2023, down from HKD 0.064 per share in 2022[173] Development Projects and Sales - The company has a land reserve of 8.5 million square meters, with 6.2 million square meters available for lease and sale[4] - The company established a joint venture in April 2023 for a multi-purpose development project in Shanghai, focusing on residential, commercial, and supporting facilities[15] - The total estimated construction area for the Wuhan Changjiang Tiandi project is 751,000 square meters, with the first batch of residential units launched in September 2023[62] - The company plans to launch several key projects in Shanghai in 2024, including the Pacific New World Commercial Center and two high-end residential projects[37] - The company achieved a contract property sales total of RMB 11.396 billion in 2023, with an additional RMB 367 million in subscribed sales expected to convert in the coming months[29] Sustainability and ESG Initiatives - The group signed a strategic cooperation agreement with CLP Group to provide green electricity for its commercial properties, increasing the share of renewable energy in total electricity consumption from 15% in 2022 to 20% in 2023[17] - 96% of the existing assets have received at least one green or healthy building certification, demonstrating the company's commitment to sustainability[17] - The company aims to reduce energy consumption intensity of existing properties by 20% by 2030 compared to 2019 levels[34] - The company has received multiple ESG ratings upgrades, including a 5-star rating from GRESB and an AA rating from Morgan Stanley Capital International[35] - The company is committed to supporting biodiversity in urban habitats through a memorandum of understanding with the Nature Conservancy[34] Market Conditions and Challenges - The company anticipates continued challenges in the real estate sector, with potential financial crises for more developers and a slow recovery in the Chinese economy[39] - In 2023, the Chinese residential market remained sluggish, with financing for developers down over 35% from the peak in 2021, and land sales and new housing starts declining by 13.2% and 20.9% respectively[187] - In Shanghai, the net absorption of Grade A office space decreased by 27% to 381,686 square meters in 2023, with vacancy rates rising to 22.9%[189] Rental Income and Property Management - Rental and related income from the commercial property portfolio totaled RMB 3.243 billion, representing a year-on-year growth of 16%[23] - The total rental and related income for the year increased to RMB 3.243 billion, representing a year-on-year growth of 16%[96] - The overall occupancy rate for the group's properties as of December 31, 2023, was 93%, up from 90% in 2022, reflecting a 3 percentage point increase[135] - The rental income from joint ventures and associates amounted to RMB 348 million for 2023, an 8% increase from RMB 323 million in 2022[136] Future Outlook - The group plans to launch more development projects in 2024 and beyond, depending on market recovery and project progress[112] - The total area available for sale and pre-sale in 2024 is approximately 252,800 square meters, covering eight projects[117] - The company aims to maintain a balance between the sustainability and flexibility of funds through a combination of internal resources, bank borrowings, and debt financing[181]

Financial Performance - The company recorded total revenue of RMB 9.75 billion for 2023, a decrease of 37% compared to RMB 15.57 billion in 2022[3]. - Net profit for the year was RMB 1.4 billion, down 5% from RMB 1.48 billion in the previous year[3]. - The company declared a total dividend of HKD 0.09 per share for 2023, down from HKD 0.10 per share in 2022[2]. - The annual profit for 2023 was RMB 1.397 billion, down from RMB 1.475 billion in 2022, with earnings per share at RMB 0.101, compared to RMB 0.113 in 2022[48]. - The company reported a total of RMB 4,103 million in segment performance for property development, reflecting robust operational efficiency[76]. - The company’s share of profits from joint ventures and associates recorded a net income of RMB 781 million in 2023, compared to a net loss of RMB 151 million in 2022[47]. - The gross profit for 2023 fell by 24% to RMB 5.045 billion, while the gross profit margin improved to 52% from 43% in 2022 due to a higher contribution from property investments[44]. - The total profit before tax for 2023 was RMB 3,407 million, compared to RMB 2,699 million in 2022, reflecting a strong performance[80]. Property Sales and Revenue - Contracted property sales fell significantly to RMB 11.4 billion, a decrease of 58% from RMB 27.22 billion in 2022[3]. - Property sales amounted to RMB 58.98 billion, primarily from Shanghai Panlong Tiandi, with total sales (including joint ventures) reaching RMB 38.565 billion[5]. - Confirmed property sales for 2023 totaled RMB 38.565 billion, with a 4% decrease in average selling price to RMB 63,200 per square meter compared to 2022[8]. - The total revenue from property sales was RMB 5.898 billion, compared to RMB 11.695 billion in the previous year[9]. - The total area sold in 2023 was 350,900 square meters, with an average price of RMB 29,000 per square meter[11]. - The company’s cash and bank deposits totaled RMB 8.92 billion, a decrease of 33% from RMB 13.37 billion in the previous year[3]. Rental and Related Income - Rental and related income increased to RMB 3.24 billion, representing a 16% year-on-year growth from RMB 2.8 billion[3]. - The rental income from properties in Shanghai accounted for 76% of the total rental income of RMB 3.243 billion, which increased by 16% from RMB 2.802 billion in 2022[28]. - As of December 31, 2023, the rental income and related revenue of the group reached RMB 2.398 billion, a 16% increase from RMB 2.07 billion in 2022, driven by the openings of Shanghai Panlong Tiandi and Shanghai Hongshufang[44]. Debt and Financial Position - The net asset liability ratio slightly increased to 52% as of December 31, 2023, compared to 45% in 2022[3]. - The company’s net debt as of December 31, 2023, was RMB 23.016 billion, with a net asset liability ratio of 52%, up from 45% in 2022[53]. - The total amount of bank borrowings in HKD and USD was RMB 18.400 billion, representing 58% of total borrowings[53]. - The group had unutilized bank financing of approximately RMB 3.716 billion as of December 31, 2023[54]. - The group provided guarantees of RMB 145 million for mortgage loans to customers purchasing developed properties[58]. ESG and Sustainability - The company’s ESG rating improved from A to AA by MSCI, and from B to A- by CDP during the year[2]. - The company’s MSCI ESG rating improved from A to AA, and CDP rating improved from B to A- in 2023, reflecting its commitment to sustainability[7]. Market and Economic Conditions - China's economy recorded a growth of 5.2% in 2023, but the recovery remains unstable due to a sluggish real estate market and significant deflationary pressures[91]. - The financing amount obtained by developers has dropped over 35% from the peak in 2021, reflecting ongoing challenges in the real estate sector[91]. - The global economic growth is projected to slow from 2.6% in 2023 to 2.4% in 2024, below the average growth rate of 3.1% in the 2010s[91]. Future Outlook and Strategy - The company plans to launch more development projects in 2024 and beyond, depending on market recovery and project progress[10]. - The company aims to enhance its existing property portfolio with a focus on community and cultural competitive advantages, as demonstrated by the success of Panlong Tiandi[43]. - The company anticipates facing more challenges in 2024 but aims to strengthen its foundation for future growth[102]. - The company is focused on identifying suitable acquisition opportunities and enhancing its project development and management capabilities[104]. Employee and Governance - As of December 31, 2023, the total number of employees at the company was 3,054, a decrease from 3,098 employees as of December 31, 2022[100]. - The company provided a range of employee benefits including retirement plans, long-term incentive plans, and medical insurance, emphasizing equal opportunity principles in its compensation policy[100]. - The company has adhered to the corporate governance code and principles throughout the year ending December 31, 2023, with all applicable code provisions complied with[98].

Shui On Land (00272) H2 2023 Earnings Call March 20, 2024 08:00 PM ET Speaker0 Good evening, ladies and gentlemen. Welcome to ShoeiON Land's twenty twenty three Annual Results Analyst Briefing. Thank you very much for joining us online this evening. We are pleased to have five members of the senior management team with us today: Mr. Vincent Lo, our Chairman Ms. Stephanie Lo, Executive Director of Shuyong Land and Vice Chairman of Shuyong Xin Tiendi Mr. Douglas Song, Chief Financial Officer and Chief Investm ...

Financial Performance - For the first half of 2023, the company recorded a profit of RMB 913 million, with attributable profit to shareholders increasing by 37% year-on-year to RMB 618 million[7]. - In Q2 2023, the group reported a revenue of RMB 6.431 billion, a 46% increase compared to the same period in 2022[15]. - The group's profit for the period grew by 17% to RMB 913 million, while profit attributable to shareholders increased by 37% to RMB 618 million[15]. - Revenue for the six months ended June 30, 2023, was RMB 6,431 million, a 45.6% increase from RMB 4,415 million in the same period of 2022[72]. - Gross profit for the first half of 2023 increased by 5% to RMB 2.949 billion, while the gross profit margin decreased to 46% from 64% in the same period of 2022[55]. - The company reported a significant increase in share of profits from associates and joint ventures, reaching RMB 689 million compared to a loss of RMB 73 million in the previous year[72]. - The company’s net profit attributable to shareholders for the first half of 2023 was RMB 618 million, a 37% increase from RMB 450 million in the same period of 2022[58]. - The company reported a tax expense of RMB 957 million for the first half of 2023, up from RMB 248 million in the same period of 2022, attributed to increased profits from property sales[57]. Property Sales and Development - Property sales for the first half of 2023 surged by 90% to RMB 4.662 billion, compared to RMB 2.449 billion in the same period of 2022[7]. - The confirmed property sales for the first half of 2023 amounted to RMB 34.706 billion, a significant increase attributed to the delivery of several high-value projects in Shanghai, with an average selling price rising 49% to RMB 76,100 per square meter[19][20]. - The company’s contracted property sales for the first half of 2023 reached RMB 4.564 billion, a decrease of 76% compared to RMB 18.715 billion in the same period of 2022, primarily due to the timing of project launches[21][22]. - The average selling price of residential properties in the first half of 2023 was RMB 53,900 per square meter, down from RMB 105,700 per square meter in the same period of 2022, reflecting a higher proportion of lower-priced projects outside Shanghai[21]. - The company plans to launch more properties in the second half of 2023, capitalizing on market recovery and project development progress[21]. Rental and Related Income - Rental and related income, including joint ventures and associates, totaled RMB 1.515 billion, reflecting a year-on-year growth of 3%[7]. - Rental and related income totaled RMB 1.515 billion, reflecting a 3% year-on-year growth, with 74% of this income derived from properties in Shanghai[17]. - The average occupancy rate for the group's office properties remains stable at 88%, with Shanghai office properties achieving an average occupancy rate of 92%[9]. - The average occupancy rate for the retail property portfolio was 91%, with sales and foot traffic recovering to 109% and 120% of the levels seen in the same period of 2021, respectively[33]. Financial Management and Strategy - The company has maintained a prudent financial management approach, carefully selecting new investment projects to ensure financial stability[7]. - The group successfully issued RMB 4.401 billion in onshore commercial mortgage-backed securities (CMBS), rated AAAsf, with a coupon rate of 3.9%[11]. - The successful issuance of the CMBS highlights the company's strong capital management capabilities and commitment to sustainable development[18]. - The company aims to utilize the net proceeds from the CMBS issuance for debt repayment and general working capital[18]. - The group anticipates strong residential sales momentum in the second half of the year despite ongoing market challenges[12]. Market Conditions and Economic Outlook - The economic outlook remains cautious, with the World Bank adjusting China's growth forecast to 5.6% for 2023, but highlighting significant downside risks[6]. - The real estate market in China is experiencing challenges, particularly in lower-tier cities, while properties in core cities remain resilient[8]. - The GDP growth in Wuhan for the first half of 2023 was 5.0%, with fixed asset investment, real estate investment, and retail sales increasing by 5.3%, 7.7%, and 9.0% respectively[53]. - The People's Bank of China lowered the one-year and five-year loan benchmark rates by 10 basis points in June 2023 to boost confidence in the real estate sector[52]. Corporate Governance and Shareholder Information - The board proposed an interim dividend of HKD 0.032 per share, down from HKD 0.036 per share in the first half of 2022[7]. - The company has complied with the Corporate Governance Code and all applicable provisions during the six months ended June 30, 2023[131]. - The board consists of 12 members, including 4 executive directors and 8 independent non-executive directors, ensuring a majority of independent members for good corporate governance[133]. - The company has established a clear division of responsibilities between the Chairman and the CEO to enhance governance[134]. Sustainability and ESG Efforts - The group aims to reduce energy consumption intensity of existing properties by 20% by 2030 compared to 2019 levels as part of its commitment to the Science Based Targets initiative (SBTi)[9]. - The group has been recognized for its ESG efforts, being included in the Bloomberg Gender-Equality Index and the 2023 Fortune China ESG Impact List[10]. - The Sustainability Committee provided insights on sustainability trends and practices, assisting the board in creating shareholder value and complying with ESG reporting guidelines[138].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示，概不會就因本公佈的全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公佈僅供參考，並不構成收購、購買或認購證券的邀請或要約，亦非提呈任何該等要約或邀請。尤其本公佈並不構成亦 非提呈出售或邀約購買香港、美國或其他地方的證券之要約。 根據一九三三年美國證券法，在概無註冊或獲豁免註冊的情況下，不得於美國提呈或出售證券。任何在美國公開發售證券 僅可透過招股章程的形式進行，招股章程可向發行人或出售證券的持有人索取，且當中須載列發行人及其管理層的詳細資 料以及財務資料。本公佈所提述的證券概無計劃於美國公開發售。 Shui On Land Limited 瑞安房地產有限公司* （於開曼群島註冊成立之有限責任公司） （股份代號：272） 2023 年中期業績公佈 摘要 ➢ 儘管市場環境仍然充滿挑戰，集團業績表現穩健：2023年，中國房地產行業繼續面對重重挑戰。雖然中國 商業活動在新冠疫情防控措施解除後有所恢復，但消費者仍持謹慎態度，導致2023年上半年復甦弱於預期。 同時，大多數發 ...

Shui On Land (00272) H1 2023 Earnings Call August 21, 2023 08:00 PM ET Speaker0 Good evening, ladies and gentlemen. Welcome to Shireon Land's twenty twenty three Interim Results Analyst Briefing. Thank you very much for joining us online this evening. We are pleased to have five members of the senior management team with us today, Mr. Vincent Lo, our Chairman Ms. Stephanie Lo, Executive Director of Shuyong Land and Vice Chairman of Shuyong Xin TianD Mr. Douglas Song, Chief Financial Officer and Chief Invest ...