Financial Performance - Revenue for the first half of 2024 was RMB 6,330,593 thousand, a decrease from RMB 8,232,782 thousand in the first half of 2023, representing a decline of approximately 23.1%[1] - Gross profit for the first half of 2024 was RMB 857,772 thousand, down from RMB 1,583,602 thousand in the same period last year, indicating a decrease of about 45.9%[1] - The net loss for the first half of 2024 was RMB 500,366 thousand, compared to a profit of RMB 33,498 thousand in the first half of 2023, marking a significant shift in performance[2] - Total revenue for the six months ended June 30, 2024, was RMB 6,664,238 thousand, a decrease from RMB 8,800,698 thousand for the same period in 2023, representing a decline of approximately 24.3%[12][13] - The basic loss per share for the first half of 2024 was RMB (0.17), compared to earnings per share of RMB 0.03 in the first half of 2023[2] - The company reported a loss attributable to shareholders of approximately RMB 483,000,000, a decrease of about 689% year-on-year[32] - The company did not declare or recommend any interim dividend for the period[20] - The company reported a net loss of RMB 500,366 thousand for the six months ended June 30, 2024, compared to a profit in the previous period[12][13] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 124,030,039 thousand, down from RMB 128,236,470 thousand at the end of 2023, reflecting a decrease of approximately 3.4%[4] - Total liabilities as of June 30, 2024, were RMB 105,158,728 thousand, slightly down from RMB 108,178,097 thousand at the end of 2023, indicating a decrease of about 1.9%[4] - Non-current liabilities decreased to RMB 5,213,455 thousand as of June 30, 2024, from RMB 8,631,406 thousand at the end of 2023, a reduction of about 39.5%[4] - The total amount of receivables as of June 30, 2024, is RMB 20,212,862, down from RMB 22,400,328 as of December 31, 2023[24] - The total accounts payable as of June 30, 2024, is RMB 54,133,817, compared to RMB 54,402,412 as of December 31, 2023[27] Cash Flow and Liquidity - The company's cash and cash equivalents, including restricted bank deposits, totaled RMB 905,461 thousand and RMB 977,233 thousand as of June 30, 2024, compared to RMB 1,121,610 thousand and RMB 1,717,941 thousand at the end of 2023, indicating a decline in liquidity[3] - The cash and cash equivalents balance, including restricted cash, was approximately RMB 1,883,000,000[32] - The company aims to enhance cash flow management and optimize its debt structure to maintain a healthy financial position[43] Market and Operational Strategy - The management acknowledges significant uncertainty regarding the ability to implement plans and measures due to volatility in the Chinese real estate market[6] - The group plans to adjust sales and pre-sale activities to better respond to market demand and achieve the latest budgeted sales and pre-sale amounts[5] - The company is actively responding to new real estate policies and optimizing strategies to strengthen sales in key regions and projects[39] - The company aims to deepen its business layout and enhance brand influence through the "2+2" innovative service model, aligning closely with customer needs[41] Construction and Development - The company will continue to monitor the construction progress of its real estate development projects to ensure timely completion and delivery to customers[5] - The company has implemented effective measures to ensure construction progress and high-quality delivery commitments amid market and policy pressures[34] - The company is committed to enhancing operational capabilities in the Yangtze River Delta and Greater Bay Area while adopting a cautious investment strategy[40] Investment and Fair Value - The fair value loss on equity investments was RMB (2,518) thousand for the first half of 2024, contrasting with a gain of RMB 1,270 thousand in the same period last year[2] - The company recorded a fair value loss on investment properties of approximately RMB 592,000,000, compared to a loss of RMB 389,000,000 in the same period last year[50] - The fair value of investment properties decreased from RMB 9,554,000 (as of January 1, 2024) to RMB 8,962,250 (as of June 30, 2024)[22] Employee and Governance - The group employed a total of 2,543 employees as of June 30, 2024, with 1,029 employees working in property development[58] - The company has adhered to the corporate governance code, with the roles of chairman and CEO combined from May 17, 2024, to June 30, 2024[61] Future Outlook - The government is expected to continue implementing supportive policies to positively impact future real estate sales[31] - The company plans to accelerate transformation and embrace industry changes while exploring new opportunities for diversified development[42]

Financial Performance - Revenue for 2023 was RMB 24,933 million, a decrease of RMB 1,681 million (approximately 6.3%) from RMB 26,614 million in 2022[8]. - Gross profit for 2023 was RMB 2,570 million, down RMB 1,529 million (approximately 37.3%) compared to RMB 4,099 million in 2022[8]. - The company reported a loss for the year of RMB 1,769 million, a decline of RMB 2,549 million from a profit of RMB 780 million in 2022[8]. - Total assets decreased to RMB 128,236 million in 2023, down RMB 21,415 million (approximately 14.3%) from RMB 149,651 million in 2022[10]. - Total liabilities were RMB 108,178 million, a reduction of RMB 18,260 million (approximately 14.4%) from RMB 126,438 million in 2022[10]. - Total equity decreased to RMB 20,058 million, down RMB 3,155 million (approximately 13.6%) from RMB 23,213 million in 2022[10]. - The net loss attributable to the owners of the Group was approximately RMB 1,752 million, reflecting a decrease of approximately 464%[162]. - The board does not recommend payment of a final dividend for the twelve months ended December 31, 2023[162]. Revenue Sources - Sales of properties accounted for 95.5% of total revenue, totaling RMB 23,800 million, a decrease of RMB 1,877 million (approximately 7.3%) from RMB 25,677 million in 2022[11]. - Property management and other services revenue increased by RMB 184 million (approximately 29.8%) to RMB 801 million in 2023[11]. - Rental income rose by RMB 12 million (approximately 4.6%) to RMB 271 million in 2023[11]. - The average selling price was approximately RMB 12,952 per square meter, with total revenue from property sales around RMB 23,800 million, a decrease of approximately 7.3% from the previous year[166]. - The average contracted selling price during the period was approximately RMB 11,012/sq.m.[174]. Market Conditions - China's real estate investment declined by 9.6% in 2023 compared to 2022, and new construction commencement plummeted by 20.9%[19]. - Nearly 90% of China's top 100 listed real estate companies experienced a shrink in market capitalization in 2023[19]. - The global GDP growth rate for 2023 was 2.6%, while China's GDP growth rate was 5.2%[18]. Strategic Initiatives - The company aims to strategically deepen its land bank in the Yangtze River Delta and Pan-Pearl River Delta regions, having developed projects in 37 cities across 9 provinces[3]. - Greenland HK focused on innovative sales and marketing strategies to enhance efficiency and reduce losses amid a challenging real estate market[26]. - The company implemented a series of effective measures to maintain overall stability in production and operation[26]. - Greenland HK's strategic focus remains on first-tier cities in the Yangtze River Delta and Greater Bay Area, adopting a prudent investment strategy for long-term stability[33]. - The Group's strategic focus includes reshaping sales momentum, achieving high-quality delivery, and expanding funding sources through a multi-channel approach[32]. Project Development - In 2023, Greenland HK delivered over 3 million square meters of real estate, with 465,000 square meters delivered ahead of schedule[20]. - The Group maintained a high-quality land bank of approximately 19 million square meters as of December 31, 2023, sufficient to support future development needs[38]. - The company has a portfolio of 30 projects in Jiangsu across 9 cities, 9 projects in Zhejiang across 6 cities, and 38 projects in Guangdong across 12 cities[61]. - The company is focused on expanding its property development portfolio, with a significant number of projects in key urban areas across China[61]. Customer Engagement and Marketing - The Southern China region launched the "30-Day Refund for No Reason" campaign, enhancing customer trust and participation in marketing activities[31]. - The Group's marketing initiatives included over 1,250 activities for owners' circles and a creative photography contest that generated over 1.05 million discussions on Douyin[31]. - The Group emphasized the integration of new media platforms to improve customer engagement and drive property sales[177]. - The Group launched six series of IP products, focusing on quality and innovative construction processes[176]. Awards and Recognition - The Group won a total of 19 industry awards in 2023, including 5 international awards and 14 domestic awards[161]. - Greenland HK's first intelligent construction project, the Yancheng Dafeng Distillery Demonstration Center, received the highest honor in its category at the 10th Architectural Creation Award[161]. Future Outlook - Greenland HK's development strategy for the next five years includes optimizing structure, excelling in core business, strengthening coordination, and diversifying development[53]. - The company plans to develop smart manufacturing and property improvement services in a coordinated manner alongside its real estate business[53]. - Greenland HK is committed to fulfilling social responsibilities and contributing to sustainable development as part of its corporate culture[54].

Financial Performance - Total revenue for the fiscal year 2023 was RMB 24,932,665, a decrease of 6.36% from RMB 26,614,317 in 2022[33] - Gross profit for 2023 was RMB 2,570,066, down 37.3% from RMB 4,098,564 in the previous year[33] - The company reported a net loss of RMB 1,769,176 for 2023, compared to a profit of RMB 780,445 in 2022[33] - The basic loss per share for 2023 was RMB 0.63, compared to earnings of RMB 0.17 per share in 2022[35] - Total revenue for the year ended December 31, 2023, was RMB 24,932,665,000, with revenue from customer contracts amounting to RMB 24,661,709,000[78] - The company reported a loss attributable to shareholders of RMB (1,751,863) thousand in 2023, a significant decrease from a profit of RMB 480,904 thousand in 2022[120] - The income tax expense for 2023 was RMB 1,168,765 thousand, down from RMB 1,489,430 thousand in 2022, reflecting a reduction of about 21.5%[115] - The company did not propose any dividend distribution for 2023, consistent with the previous year where no dividends were suggested[119] - The company reported a total of RMB 54,402,412 in accounts payable and other payables, reflecting a stable liability structure[36] Assets and Liabilities - The total assets decreased to RMB 128,236,470 in 2023 from RMB 149,650,517 in 2022, representing a decline of 14.3%[26] - Current assets decreased to RMB 108,620,908 in 2023 from RMB 128,182,985 in 2022, a decline of 15.3%[26] - The company’s total liabilities increased to RMB 108,620,908 in 2023 from RMB 127,691,678 in 2022, a rise of 6.5%[26] - Total equity increased from RMB 20,058,373 to RMB 23,212,387, representing a growth of approximately 15.4%[36] - The total amount of deferred tax liabilities and interest-bearing loans in non-current liabilities was RMB 6,900,840 and RMB 370,826 respectively, showing a significant portion of the total liabilities[36] - The net debt ratio increased to approximately 58% in 2023 from 48% in 2022, with total cash and cash equivalents amounting to approximately RMB 2,840 million[173] Market Conditions and Strategy - The real estate market in China experienced a 9.6% year-on-year decline in development investment, with residential investment down by 9.3%[18] - The company anticipates a challenging recovery in the real estate sector, with ongoing debt crises and weak consumer confidence impacting sales[18] - The company aims to enhance risk management and financial control to support high-quality development amidst ongoing market challenges[15] - The company has adjusted its strategy to focus on asset disposal and innovative marketing approaches to improve project profitability and operational efficiency[15] - The company plans to explore long-term rental market development as part of its strategy to stabilize the real estate market[19] Operational Performance - The total construction area sold and delivered in 2023 was 1,819,832 square meters, a decrease of approximately 22% compared to the same period last year[140] - The average selling price was approximately RMB 12,952 per square meter, with total property sales revenue amounting to approximately RMB 23,800,000,000, a decrease of about 7.3% year-on-year[140] - The company focused on enhancing product competitiveness and market planning, achieving growth in both scale and efficiency in its strategic business areas such as long-term rentals and commercial properties[150] - The group delivered projects in 2023 that received positive feedback from the community, maintaining good delivery and operational capabilities[131] - The company is actively integrating new media platforms to enhance online traffic and customer engagement, aiming to drive offline sales[148] Risk Management and Compliance - The company faces significant uncertainty regarding its ability to continue as a going concern, dependent on successful sales and financing arrangements[68] - The company’s ability to obtain continued support from banks for loan extensions and new funding sources is critical for its operations[68] - The company has maintained compliance with corporate governance codes, with the chairman and CEO roles combined for efficiency from January 1, 2023, to June 15, 2023[186] - The company will continue to monitor the RMB to USD exchange rate and take appropriate measures to hedge foreign exchange risks[197] Employee and Operational Changes - The company employed a total of 2,775 employees in 2023, down from 3,014 employees in 2022, with 1,185 employees working in property development[182] - The company has implemented a "quality renewal, service renewal" initiative, completing 312 renovations across 19 projects[136] - The group has developed six series of IP products, focusing on quality and innovation in construction and design[132]

Financial Performance - The total revenue for the fiscal year 2023 was RMB 24,932,665, a decrease of 6.3% compared to RMB 26,614,317 in 2022[3]. - The gross profit for 2023 was RMB 4,098,564, representing a gross margin of approximately 16.4%[3]. - The net loss attributable to the owners of the company for 2023 was RMB 1,769,176, compared to a profit of RMB 780,445 in 2022, indicating a significant decline[5]. - The total comprehensive loss for the year was RMB 1,773,887, compared to a comprehensive income of RMB 868,983 in the previous year[5]. - The financing income decreased to RMB 19,399 in 2023 from RMB 57,671 in 2022, reflecting a decline of 66.4%[3]. - The company reported a significant increase in administrative expenses, which rose to RMB 497,769 in 2023 from RMB 621,047 in 2022[3]. - The company reported a net loss before tax of RMB (600,411) thousand in 2023, a significant decline from a profit of RMB 2,269,875 thousand in 2022[59]. - The total income tax expense for the year was RMB 1,168,765 thousand, down from RMB 1,489,430 thousand in the previous year, representing a decrease of approximately 21.5%[59]. - The company’s capitalized interest expense for the year was RMB 100,044 thousand, down from RMB 132,260 thousand in the previous year, reflecting a decrease of approximately 24.3%[52]. - The basic earnings per share for 2023 showed a loss of RMB 1,751,863,000, compared to a profit of RMB 480,904,000 in 2022[66]. Assets and Liabilities - The total assets as of December 31, 2023, were RMB 128,236,470, down from RMB 149,650,517 in 2022[8]. - Total equity as of December 31, 2023, is RMB 20,058,373,000, a decrease of 13.4% from RMB 23,212,387,000 in 2022[9]. - Total liabilities amount to RMB 108,178,097,000, down 14.5% from RMB 126,438,130,000 in the previous year[9]. - Non-current liabilities total RMB 8,631,406,000, an increase of 17.5% compared to RMB 7,349,992,000 in 2022[9]. - Current liabilities are RMB 99,546,691,000, a decrease of 16.4% from RMB 119,088,138,000 in 2022[9]. - The net amount of current assets is RMB 9,074,217,000, slightly down from RMB 9,094,847,000 in the previous year[9]. - The total assets less current liabilities stand at RMB 28,689,779,000, down from RMB 30,562,379,000 in 2022[9]. - The company’s total equity attributable to owners decreased from RMB 14,002,044,000 in 2022 to RMB 12,296,908,000 in 2023[9]. - The company has a land reserve of approximately 19,000,000 square meters as of December 31, 2023, concentrated in core cities, sufficient to support future development needs[99]. - The net debt ratio is approximately 58%, up from 48% as of December 31, 2022[117]. Cash Flow and Liquidity - The company’s cash and cash equivalents decreased to RMB 3,011,771 in 2023 from RMB 1,717,941 in 2022[8]. - The group has interest-bearing loans amounting to RMB 7,500,000,000, which are due within one year after the reporting period[26]. - The group's bank balances and cash total RMB 1,718,000,000, while there are still outstanding interest-bearing loans of RMB 1,709,000,000 that have not been repaid according to the repayment schedule[26]. - The group has been negotiating with relevant banks to extend the repayment dates of these loans, indicating potential liquidity pressures[26]. - The group faces operational and liquidity pressures, and without measures to improve cash flow, it may not have sufficient working capital to continue operations[27]. - The management has implemented various plans and measures to alleviate cash flow pressure, but there is substantial uncertainty regarding their effectiveness due to volatility in the real estate sector in the People's Republic of China[133]. - The group has obtained a loan amount of RMB 250,000,000 from banks to alleviate liquidity pressure[28]. - The group has not repaid RMB 1,709,000,000 of its interest-bearing loans by the scheduled repayment date, indicating significant liquidity pressure[133]. Market and Operational Strategy - The company plans to focus on market expansion and new product development in the upcoming fiscal year[3]. - The company plans to focus on optimizing existing assets and enhancing marketing strategies to improve operational efficiency[80]. - The company aims to strengthen product competitiveness and enhance brand promotion in a challenging market environment[91]. - The company is actively expanding its commercial operations, with the opening of new projects such as the Nanning ASEAN Colorful Street[95]. - The company has focused on optimizing existing assets and enhancing project quality to boost customer confidence[91]. - The company has implemented a "1+2+4" delivery management system to enhance delivery standards and customer trust[90]. - The company anticipates that refinancing of several similar loans will be completed in the short term[26]. Real Estate Market Conditions - The real estate market in China faced significant challenges in 2023, with a 9.6% year-on-year decline in real estate development investment[76]. - The government has implemented policies to stabilize the real estate market, including lowering down payments and interest rates[78]. - The management acknowledges significant uncertainty regarding the implementation of plans and measures due to volatility in the Chinese real estate industry[30]. Awards and Recognition - The company received 19 industry awards in 2023, including 5 international awards and 14 domestic awards[81]. Accounting and Compliance - The company has implemented new and revised International Financial Reporting Standards (IFRS) with no significant impact on financial position or performance[13]. - The independent auditor has issued an unqualified opinion on the consolidated financial statements, affirming compliance with International Financial Reporting Standards[132].

Sales Performance - Contracted sales for the first six months of 2023 amounted to approximately RMB 8,970 million, representing a 9.62% increase compared to the same period last year[14] - The contracted GFA sold during the period was approximately 760,473 sq.m., a decrease of 7.43% year-over-year[14] - The average selling price for the period was approximately RMB 11,795 per sq.m.[14] - Key regions contributing to contracted sales include Jiangsu (35%), Guangdong (34%), Zhejiang (17%), and Guangxi (10%)[14] - Contract sales for the first half of 2023 reached approximately RMB 8.97 billion, with a total sold contracted gross floor area of approximately 760,473 square meters[37] - Property sales revenue increased by 68% year-on-year to approximately RMB7,790 million in 1H2023, accounting for 95% of total revenue[20][21] - Property sales increased by RMB 3,139,844 thousand (67.5%) to RMB 7,790,022 thousand compared to the previous period[196] Financial Position - Total assets as of 30 June 2023 were RMB 144,267 million, a decrease of RMB 5,384 million compared to 31 December 2022[6] - Total liabilities as of 30 June 2023 were RMB 121,789 million, a decrease of RMB 4,649 million compared to 31 December 2022[6] - Total equity as of 30 June 2023 was RMB 22,478 million, a decrease of RMB 735 million compared to 31 December 2022[6] - Total equity decreased to approximately RMB22,478 million as of 30 June 2023, down from approximately RMB23,212 million at the end of 2022[24] - Net gearing ratio increased to 51% as of 30 June 2023, up from 48% at the end of 2022[24] - Total cash and cash equivalents (including restricted cash) amounted to approximately RMB3,619 million as of 30 June 2023[24] - Total liabilities decreased to RMB 121,789,370 thousand as of 30 June 2023, compared to RMB 126,438,130 thousand at the end of 2022[94] - Total equity and liabilities decreased to RMB 144,267,014 thousand as of 30 June 2023, down from RMB 149,650,517 thousand at the end of 2022[94] - Total assets decreased to RMB 144,267,014,000 from RMB 149,650,517,000, reflecting a reduction in both current and non-current assets[131] Revenue and Profit - Total revenue for the first half of 2023 was approximately RMB 8.233 billion, a 64% increase compared to the same period last year[37] - Profit attributable to owners of the company for the first half of 2023 was approximately RMB 82 million, a 23% decrease year-on-year[37] - Gross profit increased to approximately RMB 1.584 billion in the first half of 2023, up from approximately RMB 930 million in the same period last year, with a stable gross profit margin of 19%[48] - Revenue for the six months ended 30 June 2023 increased to RMB 8,232,782 thousand, up from RMB 5,023,101 thousand in the same period in 2022[113] - Gross profit for the six months ended 30 June 2023 was RMB 1,583,602 thousand, compared to RMB 929,586 thousand in the same period in 2022[113] - Profit for the period was RMB 33,498 thousand, up from RMB 11,532 thousand in the same period in 2022[113] - Basic earnings per share for the six months ended 30 June 2023 were RMB 0.03, compared to RMB 0.04 in the same period in 2022[114] - The company recognized a gain on disposal of interests in subsidiaries of RMB 4,180 thousand in 2023, compared to no gain in 2022[113] - Total comprehensive income for the period was RMB 193,155 thousand, compared to RMB 98,823 thousand in the previous period[96] - Profit attributable to owners of the company for the six months ended 30 June 2023 was RMB 81,910 thousand, down from RMB 105,864 thousand in the same period in 2022[152] - Total revenue increased by RMB 3,209,681 thousand (63.9%) to RMB 8,232,782 thousand[196] Costs and Expenses - Cost of sales rose by 62% to approximately RMB6,649 million in 1H2023, primarily due to land costs, construction costs, and sales tax[22] - Administrative expenses decreased by 23% to approximately RMB207 million, while selling and marketing costs decreased by 8% to approximately RMB296 million in 1H2023[23] - Finance costs decreased from approximately RMB99 million in 1H2022 to approximately RMB71 million in 1H2023[23] - The Group recorded a fair value loss on investment properties of approximately RMB389 million in 1H2023, compared to a loss of approximately RMB14 million in 1H2022[23] - Cost of properties sold surged to RMB 6,288,663 thousand in 2023, up from RMB 3,647,316 thousand in 2022[53] - Finance costs decreased to RMB 71,321 thousand in 2023 from RMB 98,573 thousand in 2022[113] - Selling and marketing expenses decreased to RMB 296,105 thousand in 2023 from RMB 320,543 thousand in 2022[113] - Administrative expenses decreased to RMB 206,763 thousand in 2023 from RMB 268,602 thousand in 2022[113] - The company reported a loss on the change in fair value of investment properties of RMB 389,148 thousand in 2023, compared to RMB 14,281 thousand in 2022[113] - Current tax expenses increased to RMB 535,868 thousand, up from RMB 320,667 thousand in the previous year[76] - PRC Enterprise Income Tax (EIT) expense rose to RMB 327,852 thousand from RMB 229,142 thousand[76] - PRC Land Appreciation Tax (LAT) expense increased significantly to RMB 208,016 thousand from RMB 91,525 thousand[76] Strategic Development and Operations - The company is focusing on enhancing delivery and operating capabilities, adhering to the central government's call for "guaranteeing property delivery, guaranteeing people's livelihood, and guaranteeing stability"[14] - The company is integrating new media platforms to enhance online customer engagement and drive offline sales[15] - Future strategic development will focus on green construction, energy conservation, emission reduction, and low-carbon development, aiming for stable and sustainable growth[18] - The Group focused on cost reduction and efficiency enhancement by optimizing construction practices, materials, and craftsmanship, contributing to overall cost savings[41][42] - The Group emphasized improving product quality and optimizing display areas to boost customer confidence in purchases[41] - The Group plans to deepen transformation and upgrading, improve "old arenas," and actively open up "new arenas" as part of its development strategy for the next three years[44] - The Yiwu Greenland Epoch Gate project, with a GFA of approximately 230,000 square meters, officially commenced operation on 29 April 2023, introducing over 260 brands[44] Employee and Shareholder Information - The Group employed a total of 2,792 employees as of 30 June 2023, down from 3,250 employees in the same period of 2022[30] - Staff costs decreased to RMB 145,226 thousand in 2023 from RMB 205,106 thousand in 2022, with salaries and other benefits dropping to RMB 168,527 thousand from RMB 222,342 thousand[53] - The company's largest shareholder, Gluon Xima International Limited, holds 59.11% of the issued shares[149] - HSBC International Trustee Limited holds 12.84% of the company's issued shares, acting as a trustee[149] - Share-based payment outstanding shares remained unchanged at 22,697 thousand shares with a book value of RMB 49,279 thousand[186] Investment Properties and Assets - Investment properties under development decreased to RMB 10,387,000 thousand as of 30 June 2023, down from RMB 11,181,000 thousand at the start of the year[57] - The fair value of investment properties as of 30 June 2023 was determined by an independent valuer, Cushman & Wakefield[57][60] - Additions to investment properties amounted to RMB 300,205 thousand during the six months ended 30 June 2023[57] - Disposals of investment properties totaled RMB 705,057 thousand during the same period[57] - Total non-current assets decreased to RMB 21,049,080,000 from RMB 21,467,532,000, reflecting a slight decline in long-term investments and property holdings[131] - Current assets decreased to RMB 123,217,934,000 from RMB 128,182,985,000, primarily due to a reduction in properties under development and bank balances[131] - Properties under development remained stable at RMB 29,158,631 thousand compared to RMB 29,122,459 thousand at the end of 2022[182] Liabilities and Loans - The Group provided guarantees to banks amounting to approximately RMB21,982 million as of 30 June 2023, down from approximately RMB25,599 million at the end of 2022[28] - Total liabilities for property sales decreased to RMB 148,489,340 thousand from RMB 152,820,217 thousand[70] - Total reportable segment liabilities decreased to RMB 121,789,370 thousand from RMB 126,438,130 thousand[70] - Non-current liabilities decreased to RMB 5,950,696 thousand as of 30 June 2023, down from RMB 7,349,992 thousand at the end of 2022[94] - Current liabilities decreased to RMB 115,838,674 thousand as of 30 June 2023, compared to RMB 119,088,138 thousand at the end of 2022[94] - Interest-bearing loans under non-current liabilities decreased to RMB 4,354,224 thousand as of 30 June 2023, down from RMB 5,406,771 thousand at the end of 2022[94] - Contract liabilities decreased to RMB 41,632,431 thousand as of 30 June 2023, compared to RMB 44,798,581 thousand at the end of 2022[94] - The company's secured bank loans amounted to RMB 13,640,408 thousand, and unsecured bank loans were RMB 1,391,188 thousand as of 30 June 2023[158] - Loans repayable within one year amounted to RMB 10,677,372 thousand, a slight increase from RMB 10,315,099 thousand at the end of 2022[181] - Loans repayable within more than one year but not exceeding two years decreased to RMB 4,274,148 thousand from RMB 5,187,333 thousand[181] Cash Flow and Financing - Net cash used in operating activities was RMB 203,910 thousand for the six months ended 30 June 2023, compared to RMB 149,604 thousand in the same period in 2022[120] - Proceeds from disposal of investment properties and property, plant, and equipment amounted to RMB 705,129 thousand for the six months ended 30 June 2023, down from RMB 857,857 thousand in the same period in 2022[120] - Repayments from related parties totaled RMB 613,362 thousand for the six months ended 30 June 2023, up from RMB 537,643 thousand in the same period in 2022[120] - Net cash used in investing activities was RMB 107,552 thousand for the six months ended 30 June 2023, compared to net cash from investing activities of RMB 3,595,993 thousand in the same period in 2022[120] - Net cash used in financing activities was RMB 962,016 thousand for the six months ended 30 June 2023, compared to RMB 5,530,842 thousand in the same period in 2022[120] - Cash and cash equivalents as at 30 June 2023 were RMB 1,739,814 thousand, down from RMB 5,348,096 thousand as at 30 June 2022[120] - Dividends paid to perpetual securities holders amounted to RMB 41,413 thousand for the six months ended 30 June 2023[118] - Distribution paid to non-controlling shareholders of subsidiaries was RMB 728,892 thousand for the six months ended 30 June 2023[118] Segment Performance - External sales revenue for the six months ended 30 June 2023 was RMB 4,650,178 thousand, with total segment revenue reaching RMB 6,147,869 thousand[125] - Segment loss for property sales was RMB 215,332 thousand, while property leasing and hotel services generated profits of RMB 50,822 thousand and RMB 169,077 thousand respectively[125] - Total segment assets as of 30 June 2023 amounted to RMB 177,695,134 thousand, with property sales contributing RMB 155,624,911 thousand[127] - Inter-segment sales for the period were RMB 1,124,768 thousand, primarily from property management and other services[125] - Share of results from joint ventures contributed RMB 37,358 thousand to the period's profit[125] - Segment assets for hotel and related services increased to RMB 2,076,253 thousand as of 30 June 2023, up from RMB 1,691,317 thousand at the end of 2022[127] - External sales revenue for properties and leasing reached RMB 7,790,022,000, contributing significantly to the total segment revenue of RMB 8,800,698,000[134] - Segment profit for property sales was RMB 300,260,000, while property leasing incurred a loss of RMB 262,214,000[134] - Property management and other services revenue increased by RMB 80,253 thousand (32.9%) to RMB 323,935 thousand[196] - Lease of properties revenue slightly increased by RMB 263 thousand (0.3%) to RMB 98,194 thousand[196] - Hotel and related services revenue decreased by RMB 10,679 thousand (34.1%) to RMB 20,631 thousand[196] Other Financial Information - Depreciation of property, plant and equipment increased to RMB 28,736 thousand in 2023 from RMB 28,430 thousand in 2022[53] - Earnings for basic earnings per share decreased to RMB 81,910 thousand in 2023 from RMB 105,864 thousand in 2022[56] - No dividends were paid, declared, or proposed during the interim period[55] - The weighted average number of ordinary shares for basic earnings per share remained constant at 2,769,188 thousand shares[56] - Trade receivables decreased to RMB 371,109 thousand as of 30 June 2023, down from RMB 401,785 thousand at the end of 2022[66] - Other receivables, net of allowance for credit losses, decreased to RMB 19,187,550 thousand from RMB 20,009,887 thousand over the same period[66] - Net foreign exchange loss for the six months ended 30 June 2023 was RMB 91,385 thousand, compared to RMB 131,826 thousand in the same period of 2022[72] - Interest expenses on interest-bearing loans decreased to RMB 406,843 thousand from RMB 519,986 thousand year-over-year[74] - Trade and other receivables overdue for more than 365 days stood at RMB 223,989 thousand as of 30 June 2023, a slight decrease from RMB 229,730 thousand at the end of 2022[159] - Trade payables due within 0–90 days were RMB 17,425,156 thousand, while those overdue for more than 365 days were RMB 5,267,056 thousand as of 30 June 2023[167] - The carrying amount of shares held for the share award scheme remained unchanged at RMB 49,279,000 as of 30 June 2023[168] - Rental income from leases amounted to RMB 98,194 thousand in the first half of 2023, slightly higher than RMB 97,931 thousand in the same period in 2022[154] - The company's total interest-bearing loans stood at RMB 15,031,596 thousand as of 30 June 2023, a decrease from RMB 15,721,870 thousand at the end of 2022[158] - Trade payables decreased slightly to RMB 26,662,493 thousand from RMB 27,332,409 thousand[182] - Retained earnings as at 30 June 2023 were RMB 8,590,473 thousand, up from RMB 14,002,044 thousand as at 1 January 2023[118] - Total comprehensive income for the period was RMB 82,863 thousand, including other comprehensive income of RMB 953 thousand[118] - The company applied new and amended IFRSs, including IFRS 17 (Insurance Contracts) and amendments to IAS 8 and IAS 12, effective from 1 January 2023[121] - The company's condensed consolidated financial statements were prepared in accordance with IAS 34 and Hong Kong Stock Exchange listing rules[121] - Impairment loss on trade receivables was RMB 199,000, while other receivables saw a reversal of RMB 5,716,000[137]

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告之內容概不 負責，對其準確性或完備性亦不發表任何聲明，並明確表示概不會對因本公告 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。 GREENLAND HONG KONG HOLDINGS LIMITED 綠 地 香 港 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） 337 （股份代號： ） 二 零 二 三 年 中 期 業 績 公 告 綠地香港控股有限公司（「本公司」或「綠地香港」）董事會欣然宣佈本公司及其 子 公 司（統 稱「本 集 團」）截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月（「二 零 二 三 年 上 半年」）的未經審核中期業績，連同截至二零二二年六月三十日止六個月（「二零 二二年上半年」）的比較數字如下： 簡明綜合損益及其他全面利潤表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 附註 二零二三年 二零二二年 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 3A 8,232,782 5,023,101 銷售成本 (6,649,180) (4,093,515) 毛利 1 ...

Financial Performance - Revenue for 2022 was RMB 26,614 million, a decrease of RMB 7,313 million (approximately 21.5%) from RMB 33,927 million in 2021[8]. - Gross profit for 2022 was RMB 4,099 million, down by RMB 4,371 million (approximately 51.7%) compared to RMB 8,470 million in 2021[8]. - Profit for the year attributable to owners of the Company was RMB 481 million, a decline of RMB 1,674 million (approximately 77.8%) from RMB 2,155 million in 2021[8]. - Earnings per ordinary share decreased to RMB 0.17, down by RMB 0.61 (approximately 78.2%) from RMB 0.78 in 2021[8]. - Total equity for 2022 was RMB 23,213 million, a slight decrease of RMB 391 million (approximately 1.7%) from RMB 23,604 million in 2021[11]. - Total assets decreased to RMB 149,651 million, down by RMB 19,095 million (approximately 11.3%) from RMB 168,746 million in 2021[11]. - Total liabilities decreased to RMB 126,438 million, a reduction of RMB 18,704 million (approximately 12.9%) from RMB 145,142 million in 2021[11]. - The Group's net profit attributable to shareholders was approximately RMB 481 million, with a basic earnings per share of approximately RMB 0.17[155]. - The total revenue from property sales was approximately RMB 25,677 million, representing a decrease of approximately 22% compared to the previous year[158]. - The Group's gross profit decreased from approximately RMB 8,470 million in 2021 to approximately RMB 4,099 million in 2022, with the gross profit margin dropping from approximately 25% to 15%[183]. Market Conditions - The real estate industry in China faced significant challenges in 2022, including plummeting market sales and debt defaults among enterprises, impacting overall market performance[21][23]. - China's GDP for 2022 was RMB 121 trillion, reflecting a growth rate of 3.0% despite challenges from the COVID-19 pandemic and geopolitical conflicts[20][23]. - The macroeconomic environment in China remained stable, with a gradual rise in market confidence as the effects of policies to "stabilize growth" were realized[147]. - The real estate market in China showed signs of stabilization by the end of 2022, with financing activities gradually returning to normal[148]. - Local governments implemented city-specific policies to support rigid demand for residential housing, adhering to the principle of "no speculation on residential properties"[148]. Strategic Initiatives - The Group adopted a prudent investment strategy to ensure long-term stable development while consolidating and restructuring its regional companies in Eastern and Southern China[34]. - The Group plans to focus on first-tier cities and adopt a prudent investment strategy for long-term stable development[172]. - The Group's strategic adjustments included prudent investment in projects to navigate the challenges posed by the COVID-19 pandemic and market adjustments[152]. - The Group focused on destocking, innovative sales and marketing, and strengthening risk control to secure its development amidst market challenges[152]. - The Group implemented a "transparent house" standardization system to enhance customer trust and improve sales performance in a challenging market environment[164]. Project Development - The Company developed 114 projects across 37 cities in 9 provinces, focusing on the Yangtze River Delta and Pan-Pearl River Delta regions[3]. - The Group maintained a land bank of approximately 21 million sq.m. as of December 31, 2022, strategically concentrated in key cities in China, sufficient to support development for the next two to three years[34]. - The Group's development portfolio includes 11 product categories, emphasizing high-quality intelligent communities and sustainable development in project development[37]. - Greenland's projects include mixed-use developments that integrate residential, commercial, and hotel facilities, catering to diverse market needs[63]. - The Group emphasizes the integration of sustainable development concepts throughout the entire project development cycle[37]. Awards and Recognition - The Company won 22 industry awards in 2022, including 17 international awards and 5 domestic awards, reflecting its commitment to enhancing lifestyle amenities[16]. - The Group's corporate image was enhanced through recognition as the "Most Valuable Real Estate and Property Company" at the "7th Zhitong Finance Listed Company Selection"[153]. Sales Performance - In 2022, Greenland HK's contracted sales amounted to approximately RMB 15,726 million, with a total contracted GFA sold of approximately 1,567,717 sq.m., aligning with expectations[30][32]. - The total contracted sales of the Group amounted to approximately RMB 15,726 million, with a total contracted gross floor area (GFA) sold of approximately 1,567,717 square meters[154]. - The average selling price was approximately RMB 10,665 per square meter, reflecting a decrease in market performance[158]. - The total GFA of sold and delivered projects was approximately 2,327,180 square meters, which is a decrease of approximately 13% from the previous year[157]. Cost Management - Operating expenses decreased significantly, with administrative expenses down approximately 35% to RMB 621 million and selling and marketing costs down approximately 19% to RMB 856 million[188]. - Income tax expenses decreased by approximately 61% from RMB 3,855 million in 2021 to approximately RMB 1,489 million in 2022, mainly due to reduced revenue[191]. - Financing costs decreased from approximately RMB 255 million in 2021 to approximately RMB 132 million in 2022[194]. - Fair value loss of investment properties amounted to approximately RMB 273 million in 2022[195].

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告之內容概不 負責，對其準確性或完備性亦不發表任何聲明，並明確表示概不會對因本公告 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。 GREENLAND HONG KONG HOLDINGS LIMITED 綠 地 香 港 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） 337 （股份代號： ） 二 零 二 二 年 年 度 業 績 公 告 綠地香港控股有限公司（「本公司」或「綠地香港」）董事會欣然宣佈本公司及其子 公司（統稱「本集團」）截至二零二二年十二月三十一日止年度（「二零二二年財政 年度」）的經審核綜合業績及財務狀況，連同二零二一年同期的比較數字如下： 摘要 (cid:129) 截至二零二二年十二月三十一日止年度，年內溢利約為人民幣780,000,000 元 (cid:129) 截至二零二二年十二月三十一日止年度，本公司擁有人應佔年內溢利 約為人民幣481,000,000元 (cid:129) 截至二零二二年十二月三十一日止年度，每股基本盈利約為人民幣0.17 元 (cid:129) 於二零二二年十二月三十一日，資產 ...

Financial Performance - For the six months ended June 30, 2022, the revenue was RMB 5,023 million, a decrease of RMB 8,426 million compared to RMB 13,449 million in 2021[13]. - Gross profit for the same period was RMB 930 million, down from RMB 4,128 million in 2021, representing a decline of RMB 3,198 million[13]. - Net profit was RMB 12 million, significantly lower than RMB 1,434 million in the previous year, indicating a decrease of RMB 1,422 million[13]. - Total revenue for the period was approximately RMB 5,023 million, representing a decrease of approximately 63% compared to the same period last year[33]. - Profit attributable to owners of the Company was approximately RMB 106 million, reflecting a year-on-year decrease of approximately 93%[33]. - The average selling price was approximately RMB 11,187 per sq.m., with property sales revenue of approximately RMB 4,650 million, down approximately 64% from RMB 13,061 million in the same period last year[36]. - Basic earnings per share of RMB 0.04, down from RMB 0.52 in the previous year, a decrease of RMB 0.48[13]. - Total comprehensive income for the period was RMB 98,823, a decrease from RMB 1,443,849 in the previous year[168]. Assets and Liabilities - Total assets as of June 30, 2022, were RMB 164,346 million, down from RMB 168,746 million at the end of 2021, a reduction of RMB 4,400 million[16]. - Total liabilities decreased to RMB 141,610 million from RMB 145,142 million, a decline of RMB 3,532 million[16]. - As of June 30, 2022, total equity was approximately RMB 22,736 million, total assets amounted to approximately RMB 164,346 million, and total liabilities were approximately RMB 141,610 million[81]. - Net gearing ratio was approximately 44% as of June 30, 2022, compared to approximately 39% at the end of 2021[85]. - Total non-current liabilities decreased from RMB 12,658,954,000 as of December 31, 2021, to RMB 9,714,719,000 as of June 30, 2022, representing a reduction of approximately 23.0%[172]. - Current liabilities slightly decreased from RMB 132,483,394,000 as of December 31, 2021, to RMB 131,895,070,000 as of June 30, 2022, a decrease of about 0.4%[172]. Sales and Market Performance - Sales of properties and construction management services accounted for RMB 4,650 million, down from RMB 13,061 million, a decline of RMB 8,411 million[21]. - In the first half of 2022, contracted sales amounted to approximately RMB 8,183 million, with a contracted gross floor area (GFA) sold of 821,535 sq.m.[33]. - The contracted sales were primarily derived from key regions: Guangdong (37%), Jiangsu (28%), Yunnan (10%), and Guangxi (9%) of total contracted sales[47]. - Revenue from property sales generated approximately RMB 4,650 million, accounting for about 93% of total revenue, reflecting a year-on-year decrease of approximately 64%[64]. - The recognized GFA of properties delivered decreased by approximately 58%, from 971,743 sq.m. in the first half of 2021 to 405,350 sq.m. in the first half of 2022[65]. Operational Strategies - The Group focused on destocking and innovative sales strategies, enhancing its sales and operating capability through new media platform integration and online advertising[42]. - The Group implemented differentiated sales strategies for existing projects by updating product positioning and promoting product quality[44]. - The Group aims to focus on first- and new first-tier cities for its "Elite Home" brand, enhancing its apartment leasing and life services platform[51]. - The Group plans to optimize its land bank structure and deepen regional development, focusing on major city clusters and key cities[60]. Human Resources and Governance - The Group employed a total of 3,250 employees as of June 30, 2022, down from 4,007 employees as of December 31, 2021, with a performance-based rewarding system in place[102]. - The company complied with the corporate governance code provisions except for C.2.1 and F.2.2 during the six-month period ended June 30, 2022[141]. - The roles of chairman and chief executive officer were combined under Mr. Chen Jun from January 1, 2022, to June 30, 2022, which the company believes aids in efficient strategy formulation[142]. Financial Management and Risks - The Group will continue to strengthen cash flow management and maintain a healthy financial position while seeking high-quality development opportunities[62]. - The Group's financial management policies include monitoring foreign exchange risks and implementing appropriate hedging measures, particularly concerning RMB to USD exchange rates[91]. - The Group's business performance is influenced by economic conditions and property market performance in the regions of its developments, which may not be fully mitigated by investment strategies[104]. - The Group's financial condition may be affected by government policies and regulations, necessitating close monitoring of changes in the regulatory environment[109].

Financial Performance - Revenue for 2021 was RMB 33,927 million, an increase of 0.6% from RMB 33,734 million in 2020[10] - Gross profit for 2021 was RMB 8,470 million, up by 2.7% from RMB 8,249 million in 2020[10] - Profit for the year decreased to RMB 2,434 million, down 29.6% from RMB 3,459 million in 2020[10] - Total assets increased to RMB 168,746 million, a rise of 2.3% from RMB 164,989 million in 2020[14] - Total liabilities rose to RMB 145,142 million, an increase of 1.6% from RMB 142,847 million in 2020[14] - Total equity increased to RMB 23,604 million, up by 6.6% from RMB 22,142 million in 2020[14] - In 2021, Greenland Hong Kong's contracted sales amounted to approximately RMB 33,000 million, with a contracted GFA sold of 2,825,817 square meters and a cash collection rate exceeding 130%[49][51] Property Development and Sales - Sales of properties and construction management services accounted for RMB 33,018 million, a growth of 0.6% from RMB 32,833 million in 2020[15] - The company aims to deepen land bank in the Yangtze River Delta and Pan-Pearl River Delta regions, having developed 114 projects across 37 cities[6] - Greenland Hong Kong won bids for multiple land parcels throughout the year, including approximately 405,000 square meters in Nanning and 321,900 square meters in Wenzhou[19] - The company officially opened its long-term leasing apartment "Elite home" in Guangzhou, indicating an acceleration in market expansion in first-tier cities[22] - Greenland Hong Kong's residential project in Wuxi received a land parcel with a total GFA of approximately 157,000 square meters, furthering its expansion efforts[22] Strategic Initiatives - Greenland Hong Kong will continue to implement the "Real Estate +" strategy to enhance resource allocation and efficiency[6] - The company entered into strategic cooperation agreements with local state-owned enterprises, enhancing collaboration in various regions[22] - The Group's strategic layout focuses on the "two Wings and One Core" approach, targeting high-quality projects in key areas like the Yangtze River Delta and Greater Bay Area[36][38] - Greenland Hong Kong is exploring new development models, focusing on property leasing and optimizing its capital structure while deepening regional and city development[56] - The company plans to focus on first-tier cities and optimize its capital structure while enhancing land reserve quality and management efficiency to seek high-quality development[58] Innovation and Technology - Greenland Hong Kong's innovative use of technologies, such as UAVs for surveys and robots for contract verification, has improved operational efficiency and reduced costs[55] - The company held its first product competitiveness summit, focusing on innovation in product ideas within the real estate industry[22] - The company signed a strategic cooperation agreement with Schneider Electric to jointly establish a "dual carbon center" in the China-ASEAN Digital Science and Technology Park, enhancing technological application in Nanning, ASEAN coastal cities[57] Awards and Recognition - The company received 93 industry awards in 2021, including 22 international awards and 52 domestic awards, highlighting its commitment to quality[25] - Greenland Hong Kong was awarded the "Best Real Estate Company" at the "Sixth Golden Hong Kong Stocks Awards"[19] Market Challenges and Responses - The company faced unprecedented challenges in 2021 due to tightened financing channels and a cooling sales market, prompting rapid adjustments in operational strategies[35][37] - The Group's operational strategy included enhancing internal management and morale through sales strategy seminars and adjusting performance assessment mechanisms in response to market challenges[43][45] Urban Development Projects - The company has a diverse property project portfolio, with 31 projects in Jiangsu, 39 in Guangdong, and 9 in Yunnan, among others, demonstrating extensive geographical coverage[67] - The ongoing projects reflect a commitment to integrating residential and commercial spaces, promoting sustainable urban development[89] - Greenland Holdings is developing the Greenland Central Plaza in Nanning, with a site area of 82,200 sq.m and a GFA of 224,800 sq.m, aiming to create a strategic platform for various industries[143] - The Greenland City project in Nanning covers a site area of 336,412 sq.m and a GFA of 665,056 sq.m, planned to integrate ecological living, international education, and commercial activities[149] Future Development Plans - Greenland Hong Kong aims to transition towards a quality and efficiency-oriented development model, enhancing its core competitiveness in the real estate sector[58] - The company is committed to creating a better lifestyle and enhancing consumer satisfaction, which is expected to improve its core competitiveness[61] - Greenland Hong Kong is focused on deepening its presence in key urban clusters and hot cities, aiming to improve product and service quality[58]