Financial Performance - The group's consolidated revenue for 2024 was approximately RMB 284.6 million, a significant decrease from RMB 766.7 million in 2023[4] - Gross profit for 2024 was approximately RMB 54.8 million, down from RMB 188.7 million in 2023[4] - The loss attributable to shareholders increased to approximately RMB 138.5 million in 2024, compared to RMB 33.8 million in 2023[4] - Revenue for the year ended December 31, 2024, was RMB 3,284,573 thousand, a significant increase from RMB 766,732 thousand in 2023, representing a growth of approximately 328%[13] - The company reported a net loss of RMB 138,515 thousand for 2024, compared to a net loss of RMB 33,776 thousand in 2023, reflecting an increase in losses of approximately 310%[13] - The group reported a total loss of RMB 138,515,000 for the year ended December 31, 2024, compared to a loss of RMB 33,776,000 in 2023[24][25] Asset and Liability Management - Total assets decreased to RMB 2,103,064 thousand in 2024 from RMB 2,395,552 thousand in 2023, a reduction of about 12%[15] - Non-current liabilities decreased significantly from RMB 249,627 thousand in 2023 to RMB 155,483 thousand in 2024, a decline of approximately 38%[16] - The company's equity attributable to owners decreased from RMB 1,635,461 thousand in 2023 to RMB 1,497,871 thousand in 2024, a decrease of about 8.4%[16] - The group's total assets as of December 31, 2024, were RMB 2,697,352,000, a decrease from RMB 3,148,710,000 as of December 31, 2023[24][25] - The group's total liabilities as of December 31, 2024, were RMB 1,199,281,000, compared to RMB 1,513,049,000 in 2023, indicating a reduction of 20.7%[24][25] Revenue Sources - Revenue from property sales was RMB 259,026,000 for the year ended December 31, 2024, down 65.2% from RMB 743,852,000 in 2023[22][25] - Total rental income from investment properties was RMB 13,505,000 for the year ended December 31, 2024, compared to RMB 12,191,000 in 2023, representing an increase of 10.8%[22][25] - The company confirmed revenue from property sales for Guangzhou New Tian Banshan, Xuzhou Lin'an Smart Industrial Park, and Yangzhou Smart Living City, totaling RMB 183.7 million, RMB 54.3 million, and RMB 1.4 million, respectively, for a total of approximately 8,800 square meters sold[52] Impairment and Fair Value Changes - The group recorded a further impairment loss and unfavorable fair value changes totaling RMB 121.2 million in 2024, compared to RMB 152.9 million in 2023[4] - The group reported a significant impairment loss of RMB 69,461,000 related to development properties and completed properties held for sale for the year ended December 31, 2024[27] - The company recognized impairment losses on properties under development amounting to RMB 48,255,000 in 2024, up from RMB 24,271,000 in 2023[32] - The fair value loss recorded by the group was RMB 51.7 million, with impairment losses of RMB 52.1 million and RMB 17.4 million for different properties[57] Market Outlook - The overall real estate market is expected to continue declining in 2024, impacting the group's performance[5] - The group anticipates a stabilization in the real estate market, particularly in first-tier cities, supported by various policy measures aimed at addressing long-term market sluggishness[61] Operational Efficiency - Distribution costs reduced from RMB 13.2 million to RMB 8.3 million, while administrative and other operating expenses increased from RMB 40.1 million to RMB 62.6 million, primarily due to a one-time net expense of RMB 19.2 million[54] - Financing costs decreased significantly from RMB 22,326,000 in 2023 to RMB 4,238,000 in 2024, mainly due to a reduction in interest on secured bank loans[30] - The company incurred approximately RMB 0.8 million in audit fees and RMB 0.2 million in non-audit fees for the year ending December 31, 2024[73] Customer and Receivables Management - Customer A, B, C, and D generated revenues of RMB 29,524, 29,524, 29,048, and 28,571 thousand respectively in 2024, with all revenues coming from mainland China[28] - The company reported accounts receivable of RMB 2,301 thousand for 0 to 90 days overdue as of December 31, 2024, an increase from RMB 967 thousand in the previous year[40] - The expected credit loss provision for accounts receivable remained stable at RMB 54,000 for both 2023 and 2024, despite an increase in net accounts receivable from RMB 967,000 to RMB 2,301,000[39] Staff and Governance - The group employed 147 staff members as of December 31, 2024, down from 173 staff members as of December 31, 2023[66] - The audit committee held three meetings in 2024 to review the group's annual performance for 2023 and the interim performance for 2024[72] - The board believes that the current structure provides strong leadership and effective strategy formulation for the group[68] Financial Reporting Standards - The company plans to adopt new and revised Hong Kong Financial Reporting Standards, which may impact future financial reporting but had no significant effect on the current year's financial position[17] - The group expects that the application of all new and revised Hong Kong Financial Reporting Standards will not have a significant impact on the consolidated financial statements in the foreseeable future[19] - The group did not apply any new or revised Hong Kong Financial Reporting Standards that have been issued but not yet effective for the current year[19]

Financial Performance - For the six months ended June 30, 2024, the Group recorded unaudited consolidated revenue of RMB170.4 million, a decrease of 58.8% compared to RMB413.2 million in the preceding period[2]. - Gross profit for the same period was RMB36.4 million, down 57.9% from RMB86.5 million, while the overall gross profit margin improved slightly to 21.3% from 20.9%[5]. - Loss attributable to owners of the Company increased to RMB 49.8 million from RMB 39.0 million in the preceding period[21]. - Loss for the period was RMB 49,845,000, compared to a loss of RMB 38,992,000 in the previous year, representing a 27.5% increase in losses[72]. - Total comprehensive loss for the period was RMB 49,623,000, an increase from RMB 39,414,000 in the same period last year[72]. - Basic and diluted loss per share for the period was 9.69 cents, compared to 7.58 cents in 2023[74]. - The reportable segment profit for property development was RMB 11,555,000, while property investment incurred a loss of RMB 15,718,000, resulting in a total reportable segment loss of RMB 2,579,000 for the period[93][94]. Revenue Sources - Subscription and contract sales for the Xintian Banshan project totaled approximately RMB85 million, a decline from RMB192 million in the preceding period, with a gross floor area of approximately 1,300 sqm[4]. - New subscription and contract sales for two projects totaled RMB18 million, down from RMB38 million in the preceding period[4]. - Rental income from the Talent Shoes Trading Center decreased to RMB6.8 million from RMB8.2 million in the preceding period, while property management fee income fell to RMB4.0 million from RMB4.9 million[5]. - The property management segment generated external revenue of RMB 6,622,000, while property investment generated RMB 4,193,000 in rental income[93][94]. Impairment and Losses - An impairment loss on interests in an associate of RMB22.3 million was recorded after finalizing various costs attributable to different parties[13]. - The Group recorded an impairment loss of RMB 22.3 million on interests in associates[14]. - A fair value deficit on investment properties of RMB 18.8 million was recorded, down from RMB 27.1 million in the preceding period[15]. - Provision for impairment losses of RMB 5.7 million was recorded for the logistics commercial project in Xuzhou, compared to RMB 32.8 million for the previous period[16]. - The impairment loss of interests in an associate was RMB 22,284,000, with no comparable figure in the previous year[104]. Assets and Liabilities - As of June 30, 2024, the Group's total assets were approximately RMB2,922.3 million, down from RMB3,148.7 million as of December 31, 2023[39]. - The Group's total liabilities were approximately RMB1,336.2 million, resulting in a gearing ratio of approximately 45.7% as of June 30, 2024, compared to 48.1% as of December 31, 2023[39]. - Bank borrowings amounted to RMB73.3 million as of June 30, 2024, a decrease from RMB123.3 million as of December 31, 2023[39]. - Current assets totaled RMB 2,291,941,000 as of June 30, 2024, down from RMB 2,395,552,000 at the end of 2023, reflecting a decrease of 4.33%[76]. - Total equity as of June 30, 2024, was RMB 1,586,038,000, a decrease of 3.02% from RMB 1,635,661,000 as of December 31, 2023[78]. Cash Flow and Financing - Net cash generated from operating activities for the six months ended June 30, 2024, was RMB 10,942,000, a significant decline of 95% compared to RMB 219,432,000 for the same period in 2023[80]. - The company reported a net cash generated from investing activities of RMB 49,528,000 for the first half of 2024, contrasting with a net cash used of RMB 30,336,000 in the same period of 2023[80]. - Finance costs decreased significantly to RMB 3.0 million from RMB 20.4 million in the preceding period due to early repayment of bank borrowings[17]. - The effective interest rate on the Group's bank loans as of June 30, 2024, is 4.5%, down from 4.75% as of December 31, 2023[129]. Share Capital and Dividends - The Board does not recommend any interim dividend for the six months ended June 30, 2024[52]. - The company underwent a capital reorganization on June 18, 2024, reducing the par value per issued share from HK$0.08 to HK$0.01 and subdividing unissued shares accordingly[132]. - As of June 30, 2024, the total number of issued and fully paid ordinary shares is 50,000,000,000, with a par value of HK$0.01 each[131]. Management and Governance - Talent Trend Holdings Limited holds 62.90% of the Company's issued share capital, with Mr. Zhang Gao Bin being the sole owner[50]. - The Group has maintained the prescribed public float under the Listing Rules as of the date of the report[58]. - The audit committee reviewed the unaudited condensed consolidated accounts for the six months ended June 30, 2024[68]. Market Conditions - The financing environment in Guangzhou remains challenging, with high inventory levels and declining property prices, particularly in second and third-tier cities[4]. - The Group continues to cautiously control costs and monitor market sentiment to promote destocking and seize cash return opportunities[22].

Financial Performance - The company reported revenue of RMB 170,367,000 for the six months ended June 30, 2024, a decrease of 58.8% compared to RMB 413,234,000 for the same period in 2023[1]. - Gross profit for the same period was RMB 36,362,000, down 58.2% from RMB 86,519,000 in 2023[1]. - The company incurred a net loss of RMB 49,845,000 for the six months ended June 30, 2024, compared to a net loss of RMB 38,992,000 in the prior year, representing a 27.5% increase in losses[2]. - Total comprehensive loss for the period was RMB 50,067,000, compared to RMB 39,414,000 in 2023, indicating a 27% increase in comprehensive losses[2]. - The company reported a basic and diluted loss per share of 9.69 cents for the six months ended June 30, 2024, compared to 7.58 cents in the same period of 2023[2]. - The loss attributable to the company's owners increased to RMB 49.8 million from RMB 39.0 million in the previous period, driven by reduced revenue and a one-time impairment loss[41]. Assets and Liabilities - Non-current assets decreased to RMB 630,309,000 as of June 30, 2024, from RMB 753,158,000 as of December 31, 2023, reflecting a decline of 16.3%[3]. - Current assets totaled RMB 2,291,941,000 as of June 30, 2024, down from RMB 2,395,552,000 at the end of 2023, a decrease of 4.3%[3]. - The company’s equity attributable to owners decreased to RMB 1,585,838,000 as of June 30, 2024, from RMB 1,635,461,000 at the end of 2023, a decline of 3.0%[4]. - The total liabilities of the group as of June 30, 2024, were RMB 1,336,212 thousand, indicating the company's financial obligations[14]. - Total borrowings amounted to RMB 73,256,000 as of June 30, 2024, a decrease from RMB 123,256,000 as of December 31, 2023[27]. - The debt ratio was approximately 45.7% as of June 30, 2024, compared to 48.1% as of December 31, 2023[45]. Revenue Segmentation - For the six months ended June 30, 2024, the reported segment revenue was RMB 170,367 thousand, with property development contributing RMB 159,552 thousand, property investment RMB 4,193 thousand, and property management RMB 6,622 thousand[10]. - The total recognized revenue from property sales for Guangzhou New Tian Banshan, Xuzhou Lin'an Smart Industrial Park, and Yangzhou Smart Living City was RMB 81.9 million, RMB 43.9 million, and RMB 15.9 million respectively, with total building area sold of approximately 1,300 square meters, 4,300 square meters, and 2,500 square meters[33]. - The total income from external customers for the six months ended June 30, 2024, was entirely derived from mainland China, emphasizing the company's focus on this market[12]. Cost Management - The company incurred a cost of RMB 125,338 thousand for sold properties during the six months ended June 30, 2024, compared to RMB 312,797 thousand in the same period of 2023, indicating a reduction in costs[16]. - Distribution costs decreased from RMB 6.9 million in the previous period to RMB 3.7 million due to a significant reduction in sales activities[36]. - The company continues to implement cost control measures, maintaining administrative and other operating expenses at RMB 19.3 million, similar to RMB 19.2 million in the previous period[36]. Tax and Financing - The income tax expense for the six months ended June 30, 2024, was RMB 17,234 thousand, down from RMB 21,126 thousand in the same period of 2023, reflecting improved tax efficiency[17]. - The company reported a financing cost of RMB 3,022 thousand for the six months ended June 30, 2024, compared to RMB 20,388 thousand for the same period in 2023, reflecting a decrease in financing expenses[15]. - Financing costs decreased to RMB 3.0 million from RMB 20.4 million in the previous period[39]. Corporate Governance - The company has not applied any new accounting standards that would have a significant impact on its operations or financial statements[8]. - The board is responsible for defining and reviewing corporate governance policies and performance[53]. - There is currently no CEO appointed, with the board believing its structure provides strong leadership for effective decision-making[54]. - The group does not recommend the payment of any interim dividend for the six months ended June 30, 2024[51]. Employee and Operational Metrics - The group employed approximately 172 employees as of June 30, 2024, a slight decrease from 173 employees as of December 31, 2023[48]. - The company has adopted a 5% withholding tax rate for the current and the following two calendar years regarding withholding tax on dividends from Chinese resident enterprises[18].

Financial Performance - The Group's consolidated revenue for 2023 was approximately RMB766.7 million, a significant increase from RMB276.1 million in 2022, while gross profit rose to RMB188.7 million from RMB98.6 million[10]. - Losses attributable to shareholders for 2023 were approximately RMB33.8 million, compared to RMB39.1 million in 2022, indicating a reduction in losses[10]. - For the year ended December 31, 2023, the Group recorded revenue of RMB766.7 million and gross profit of RMB188.7 million, compared to revenue of RMB276.1 million and gross profit of RMB98.6 million for the year ended December 31, 2022[34][38]. - The overall gross margin decreased to 24.6% in 2023 from 35.7% in 2022[36][40]. - Income tax expenses rose to RMB 56.5 million from RMB 48.7 million in 2022, driven by increased revenue and taxable profit[49]. - Loss attributable to owners narrowed from RMB 39.1 million in 2022 to RMB 33.8 million in the current year due to increased revenue and gross profit[50]. Project Performance - The flagship project, Xintian Banshan, recorded total subscription area of approximately 4,000 sqm and subscription amount of approximately RMB310 million, up from 2,000 sqm and RMB140 million in 2022[15]. - Yangzhou Intelligent Living City saw subscription amounts of approximately RMB47.6 million and area of 3,000 sqm in 2023, compared to RMB14.8 million and 1,900 sqm in 2022, reflecting improved sales performance[19]. - Xuzhou Linan Intelligent Industrial Park completed construction in early 2023, with accumulated subscription areas of approximately 67,000 sqm, leaving 23,000 sqm pending delivery[20]. - Revenue from the Xuzhou Intelligent Industrial Town project was RMB449.3 million, with a gross floor area of approximately 44,000 sqm[35][39]. - The Yangzhou Intelligence Living City project generated revenue of RMB55.3 million from sales of commercial and office units, with a total gross floor area of approximately 5,100 sqm[35][39]. - The Xintian Banshan Villa project recorded revenue of RMB220.4 million, with a gross floor area of approximately 3,100 sqm[35][39]. Impairment and Provisions - The Group made impairment provisions for several projects due to the sluggish performance of the property market in the PRC[10]. - Provision for impairment loss totaled RMB98.1 million for logistic commercial projects in Xuzhou and Yangzhou[44]. - A fair value deficit of RMB54.7 million was recorded, mainly attributable to the Talent Shoes Trading Center[44]. - Fair value losses on investment properties amounted to RMB54.7 million, up from RMB49.4 million in 2022, primarily from the Talent Shoes Trading Center[47]. - Impairment losses provision for logistics commercial projects in Xuzhou and Yangzhou totaled RMB98.1 million, compared to a reversal of RMB45.5 million in 2022[47]. Market Conditions - The government began lifting restrictive measures on the real estate industry in the second half of 2023 to stabilize the property sector[14]. - The ongoing geopolitical tensions and economic downturn have led to weaker demand for exports and decreased foreign investment in China[14]. - The Group aims to expedite cash return from property sales with expectations of improved market sentiment in 2024[15]. - The Group plans to continue focusing on destocking, reducing liabilities, and controlling operating costs in 2024 to navigate the downturn in the real estate market[51]. Financial Position - As of December 31, 2023, the Group's total assets were approximately RMB 3,148.7 million, a decrease from RMB 4,030.6 million as of December 31, 2022[71]. - The Group's total equity as of December 31, 2023, was approximately RMB 1,635.7 million, compared to RMB 1,670.1 million as of December 31, 2022[71]. - The Group's total liabilities decreased to approximately RMB 1,513.0 million as of December 31, 2023, from RMB 2,360.5 million as of December 31, 2022[71]. - The gearing ratio as of December 31, 2023, was approximately 48.1%, down from 58.6% as of December 31, 2022[73]. - Bank borrowings amounted to RMB 123.3 million as of December 31, 2023, compared to RMB 141.3 million as of December 31, 2022[73]. Governance and Management - The Group's executive directors have extensive experience in property development and finance, contributing to strategic development and daily management[99][100]. - The Company Secretary and CFO has over 25 years of experience in auditing, corporate finance, and investment banking, focusing on IPO sponsorship and mergers and acquisitions[109][108]. - The Group's strategic development is overseen by the Chairman, who has over ten years of experience in the property development industry[99]. - The Board comprises five directors, including two executive directors and three independent non-executive directors, ensuring a balanced composition for effective independent judgment[125]. - The Company has established a Nomination Committee comprising two executive directors and three independent non-executive directors to review the structure, size, and composition of the Board[134]. - The Remuneration Committee met once during the year to review remuneration policies for directors and senior management, considering the Group's performance and financial position[146]. - The Audit Committee held three meetings in 2023 to review the Group's annual results for 2022 and interim results for 2023, as well as the audit plans and findings of the external auditor[147]. Diversity and Inclusion - The Company is actively seeking to appoint a female director by December 31, 2024, to enhance gender diversity on the Board[139]. - The Board has adopted a diversity policy that includes measurable aspects such as gender, age, and industry experience to maintain a balanced profile[135]. - As of December 31, 2023, approximately 37% of the Company's workforce is female, while 63% is male, indicating a balanced gender ratio[152]. - The Company recognizes the importance of diversity at the Board level as essential for achieving strategic objectives and sustainable development[151]. ESG and Corporate Governance - The Company has established ESG policies and governance structures to oversee relevant practices and processes[196]. - The Board meets semi-annually with the ESG Committee to review key ESG matters[196]. - The governance structure, strategy, management approach, and internal control system for ESG are assessed for appropriateness and effectiveness[200]. - The group's ESG performance is measured against established ESG-related targets[200]. - The Company has reviewed its shareholder communication policy and found it effectively implemented during the year, with plans for regular reviews[189].

Financial Performance - The group's consolidated revenue for 2023 was approximately RMB 766.7 million, a significant increase from RMB 276.1 million in 2022, representing a growth of 177.5%[4] - Gross profit for the year was approximately RMB 188.7 million, compared to RMB 98.6 million in 2022, marking an increase of 91.5%[4] - The group recorded a loss attributable to shareholders of approximately RMB 33.8 million in 2023, an improvement from a loss of RMB 39.1 million in 2022, indicating a reduction in losses by 8.5%[4] - The company reported a net loss of RMB 33,776 thousand for 2023, an improvement from a net loss of RMB 39,148 thousand in 2022, reflecting a reduction in losses by approximately 13.5%[14] - The group recorded a net loss of RMB 33,776,000 for the year, compared to a loss of RMB 39,148,000 in the previous year, indicating an improvement in financial performance[28][29] - The annual loss attributable to owners narrowed to RMB 33.8 million from RMB 39.1 million in 2022, driven by increased revenue and gross profit[73] Project Performance - The flagship project "New Tian Ban Shan" achieved pre-sales of approximately RMB 310 million with a saleable area of about 4,000 square meters, up from RMB 140 million and 2,000 square meters in 2022, reflecting a growth of 121.4% in sales value[7] - The "Yangzhou Smart Living City" project recorded sales of approximately RMB 47.6 million and a saleable area of 3,000 square meters in 2023, compared to RMB 14.8 million and 1,900 square meters in 2022, representing a sales increase of 220.3%[8] - The "Xuzhou Lin'an Smart Industrial Park" project has accumulated pre-sale area of approximately 67,000 square meters, with 23,000 square meters still pending delivery as of the end of 2023[10] - The company recognized revenue of RMB 449.3 million from the delivery of pre-sold units in the Xuzhou Smart Industrial Town project, with a total construction area of approximately 44,000 square meters[64] Revenue Breakdown - Revenue for the year ended December 31, 2023, was RMB 766,732 thousand, a significant increase from RMB 276,113 thousand in 2022, representing a growth of approximately 177.5%[14] - The property development segment generated revenue of RMB 743,852,000, accounting for 97% of total revenue, while the property investment and management segments contributed RMB 12,191,000 and RMB 10,689,000 respectively[28] - Property sales revenue reached RMB 743,852,000 in 2023, compared to RMB 253,557,000 in 2022, indicating a growth of about 193%[35] Asset and Liability Management - Total assets decreased to RMB 2,395,552 thousand in 2023 from RMB 3,118,981 thousand in 2022, a decline of about 23.2%[18] - Current liabilities decreased to RMB 1,263,422 thousand in 2023 from RMB 1,851,182 thousand in 2022, a reduction of approximately 31.7%[18] - Non-current liabilities decreased significantly from RMB 509,295 thousand in 2022 to RMB 249,627 thousand in 2023, a reduction of approximately 51.0%[19] - The equity attributable to the owners of the company decreased slightly to RMB 1,635,461 thousand in 2023 from RMB 1,669,936 thousand in 2022, a decline of about 2.1%[19] - Total liabilities of the group were RMB 1,513,049,000, with reported segment liabilities of RMB 913,290,000[28] Cost Management - The company reported a significant increase in distribution costs from RMB 9.6 million to RMB 13.2 million, primarily due to increased commission expenses[67] - The company’s administrative and other operating expenses decreased significantly from RMB 60.2 million to RMB 40.1 million due to careful cost control[67] - The group plans to continue focusing on inventory reduction and cost control to navigate the downturn in the real estate market in 2024[74] Market Outlook - The company anticipates a potential improvement in the real estate market atmosphere in 2024 due to favorable national and local policies[7] - The group plans to continue promoting the delivery of units in the Xuzhou project and explore future development directions for undeveloped land in Yangzhou in 2024[10] Compliance and Governance - The group has not adopted any new accounting standards that are not yet effective, indicating a stable compliance approach[23][25] - The independent non-executive directors confirmed their independence in accordance with the listing rules[86] Other Financial Metrics - The company incurred financing costs of RMB 22,326,000 in 2023, a decrease from RMB 34,626,000 in 2022[37] - The total income tax expense for 2023 was RMB 40,557,000, an increase of 7.3% from RMB 37,784,000 in 2022[8] - The company recorded impairment losses on completed properties held for sale amounting to RMB 73,835,000 in 2023, with no such losses reported in 2022[40]

Financial Performance - For the six months ended June 30, 2023, the Group recorded unaudited consolidated revenue of RMB413.2 million, a significant increase of 201.5% compared to RMB137.0 million for the same period in 2022[6]. - Gross profit for the Reporting Period was RMB86.5 million, up from RMB53.9 million in the Preceding Period, but the overall gross profit margin decreased to 20.9% from 39.4%[15]. - Subscription and contract sales for Xintian Banshan at Zone B totaled approximately RMB192 million, a substantial increase from RMB45 million in the Preceding Period[8]. - The loss attributable to owners of the Company narrowed from RMB 87.7 million in the preceding period to RMB 39.0 million in the reporting period, driven by increased revenue and gross profit[32]. - Loss before tax decreased to RMB 17,866,000, a reduction of 73.8% from RMB 68,231,000 in the prior year[98]. - The total comprehensive loss for the period was RMB 39,414,000, a decrease of 55.1% from RMB 87,587,000 in the previous year[99]. - Basic and diluted loss per share improved to 0.379 cents, compared to 0.852 cents in the same period last year[99]. - The total loss for the period was RMB 38,992,000, compared to a loss of RMB 87,683,000 for the same period in 2022, indicating an improvement in financial performance[128]. Revenue Sources - Revenue from the delivery of pre-sold units in Xuzhou Linan Intelligent Industrial Park amounted to RMB237.7 million, with a gross floor area of approximately 23,500 sqm[7]. - Rental income from the Talent Shoes Trading Center increased to RMB8.2 million, compared to RMB7.3 million in the Preceding Period[14]. - The property development segment generated revenue of RMB 400,077,000, while the property investment and management segments contributed RMB 7,744,000 and RMB 5,413,000 respectively[127]. Assets and Liabilities - As of June 30, 2023, the Group's total assets were approximately RMB 3,669.6 million, down from RMB 4,030.6 million at the end of 2022[50]. - The Group's total liabilities decreased to approximately RMB 2,038.9 million from RMB 2,360.5 million at the end of 2022[50]. - The Group's gearing ratio was approximately 55.6%, down from 58.6% as of December 31, 2022[52][56]. - Total assets as of June 30, 2023, were approximately RMB 3,669.6 million, a decrease from RMB 4,030.6 million as of December 31, 2022[55]. - The Group's investment property was valued at approximately RMB 484.0 million as of June 30, 2023, down from RMB 506.0 million as of December 31, 2022[54][58]. Financial Management - Finance costs decreased to RMB20.4 million from RMB22.6 million in the Preceding Period due to lower average loan balances[25]. - The Group plans to maintain robust financial conditions and liquidity while focusing on reducing inventories to navigate current market challenges[33]. - The Group's corporate and personal guarantees related to loans amounted to RMB 441,256,000 as of June 30, 2023, down from RMB 552,056,000 as of December 31, 2022[187]. Impairment and Provisions - Provision for impairment loss totaled RMB32.8 million for logistics commercial projects in Xuzhou and Yangzhou during the Reporting Period[24]. - The Group recorded a fair value deficit of RMB27.1 million, primarily for the Talent Shoes Trading Center, reflecting the weakened market sentiment[24]. Employee and Management Information - The Group employed approximately 204 employees as of June 30, 2023, an increase from 199 employees as of December 31, 2022[59][62]. - Key management personnel compensation for the six months ended June 30, 2023, totaled RMB 2,167,000, compared to RMB 2,072,000 for the same period in 2022, reflecting an increase of approximately 4.6%[181]. Corporate Governance - The company has complied with the Code on Corporate Governance Practices, enhancing transparency in material information disclosure[88]. - The board structure is designed to ensure a balance of power and authority, with no chief executive officer currently appointed[84]. Market Conditions - The Group's fair value loss recorded for the Tianlun Shoes Trading Center was RMB 27.1 million, an improvement from RMB 30.4 million in the preceding period[27]. - The average exchange rate applied for consolidation was HK$1.12540 to RMB1, with a closing rate of HK$1.08037 to RMB1, indicating no significant foreign exchange risk exposure[53][57].

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之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 TALENT PROPERTY GROUP LIMITED 新 天 地 產 集 團 有 限 公 司 * （於百慕達註冊成立之有限公司） （股份代號：760） 二 零 二 三 年 中 期 業 績 公 佈 新天地產集團有限公司（「本公司」）董事會（「董事會」）提呈本公司及其附屬公司 （統稱「本集團」）截至二零二三年六月三十日止六個月之未經審核綜合業績及 比較數字如下： 簡明綜合損益及其他全面收入報表 截至六月三十日止六個月 二零二三年 二零二二年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 3 413,234 136,992 銷售及服務成本 (326,715) (83,067) 毛利 86,519 53,925 ...

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之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈 全部或任何部分內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 TALENT PROPERTY GROUP LIMITED 新 天 地 產 集 團 有 限 公 司* （於百慕達註冊成立之有限公司） （股份代號：760） 二 零 二 二 年 全 年 業 績 公 佈 主席報告書 本人謹代表新天地產集團有限公司（「本公司」），提呈本公司及其附屬公司（「本 集團」）截至二零二二年十二月三十一日止年度的經審核綜合業績。 財務業績 二零二二年綜合收益及毛利分別約為人民幣276.1百萬元（二零二一年：人民幣 344.0百萬元）及人民幣98.6百萬元（二零二一年：人民幣133.9百萬元）。本年度之 收入主要包括新天半山別墅銷售以及揚州項目預售單位交樓之收入確認。收 入組合改變，至使毛利率有所下降。於未計及投資物業公平值變動及撥回發 展中物業的減值虧損前，除稅前虧損為人民幣1.4百萬元（二零二一年：除稅前 ...

Financial Performance - For the six months ended June 30, 2022, the Group recorded unaudited consolidated revenue of RMB137.0 million, a decrease of 23.5% from RMB179.0 million in the preceding period[7]. - Gross profit for the same period was RMB53.9 million, down 31.5% from RMB78.6 million, resulting in a gross profit margin of 39.4%, compared to 43.9% in the preceding period[18]. - A loss attributable to owners of the Company was recorded at RMB 87.7 million, contrasting with a profit of RMB 78.8 million in the preceding period, driven by reduced revenue and other factors[35]. - The net loss for the period was RMB 87,683,000, compared to a profit of RMB 78,778,000 in the previous year, indicating a significant decline[106]. - Total comprehensive loss for the period was RMB 87,587,000, compared to a comprehensive income of RMB 78,452,000 in 2021[108]. - The property development segment reported a loss of RMB 5,564,000, while the property investment segment incurred a loss of RMB 26,532,000, leading to a total segment loss of RMB 31,475,000 for the period[129]. - The group recorded a total loss for the period of RMB 87,683,000, compared to a profit of RMB 78,778,000 in the same period of the previous year[129]. Revenue Sources - Revenue from the delivery and sales of residential units and villas of Xintian Banshan was RMB114.2 million, a decline of 22.1% from RMB146.7 million in the preceding period, with a gross floor area of approximately 1,600 sqm[8]. - Subscription and contract sales for Xintian Banshan at Zone B totaled approximately RMB45 million, a significant drop of 83.6% from RMB274 million in the preceding period[10]. - Subscription and contract sales of commercial units in Yangzhou totaled approximately RMB 8 million, down from RMB 15 million in the preceding period, with a gross floor area of approximately 1,100 sqm compared to 2,000 sqm previously[27]. - Xuzhou's subscription and contract sales also decreased to approximately RMB 8 million from RMB 113 million, with a gross floor area of approximately 800 sqm, down from 11,500 sqm due to a lockdown during the reporting period[27]. - Rental income from Talent Shoes Trading Center decreased to RMB7.3 million, down from RMB7.8 million in the preceding period, while total rental income from other properties increased to RMB4.2 million from RMB3.7 million[17]. Cost Management - Distribution costs were reduced to RMB3.3 million from RMB6.5 million in the preceding period, demonstrating the Group's cautious approach to cost control[19]. - The cost of properties sold was RMB 75,246,000, compared to RMB 91,708,000 in the previous year, indicating a reduction in costs[147]. - Administrative and other operating expenses rose to RMB 37,452,000, up 80.9% from RMB 20,704,000 in 2021[106]. Asset and Liability Management - As of June 30, 2022, the Group's total assets were approximately RMB4,006.0 million, a decrease from RMB4,220.7 million as of December 31, 2021[55]. - The Group's total equity was approximately RMB1,621.0 million, down from RMB1,708.6 million as of December 31, 2021[55]. - The total liabilities amounted to approximately RMB2,385.0 million, compared to RMB2,512.1 million as of December 31, 2021[55]. - The Group's gearing ratio remained stable at approximately 59.5% as of June 30, 2022[57]. - Trade payables decreased to RMB 387,562,000 from RMB 456,049,000, a reduction of approximately 15.0%[112]. - Borrowings increased significantly to RMB 535,534,000 from RMB 562,732,000, reflecting a rise of about 12.5%[112]. Market Conditions - The overall economic environment remained uncertain, impacted by COVID resurgence, geopolitical conflicts, and weakened domestic economic activities[9]. - The Group anticipates weak domestic demand and investment in the second half of 2022, focusing on maintaining financial health, destocking, and stabilizing debts[36]. Impairments and Fair Value Adjustments - Impairment loss provision for logistic projects under development totaled RMB 34.1 million, an increase from RMB 25.0 million in the preceding period, reflecting ongoing market challenges[28]. - Fair value deficits of RMB30.4 million were recorded, primarily from Talent Shoes Trading Center, reflecting a decline from RMB12.0 million in the preceding period[25]. - Fair value loss recorded was RMB 30.4 million, compared to RMB 12.0 million in the preceding period, primarily from the Talent Shoes Trading Center due to a decline in the commercial property market[29]. Financing and Cash Flow - Finance costs reduced to RMB 22.6 million from RMB 33.8 million in the preceding period, attributed to lower average loan balances[33]. - Cash and cash equivalents decreased to RMB 131,832,000 from RMB 222,250,000, a decline of 40.6%[110]. - The company reported a net cash used in operating activities of RMB 95,224,000 for the six months ended June 30, 2022, compared to RMB 6,698,000 for the same period in 2021, indicating a substantial increase in cash outflow[113]. - The net cash used in financing activities was RMB 44,008,000 for the first half of 2022, a decrease from RMB 121,505,000 in the same period of 2021, showing improved cash management[115]. Corporate Governance - The company does not currently appoint a chief executive officer, believing the existing board structure provides strong leadership for decision-making[96]. - The Board does not recommend any interim dividend for the six months ended June 30, 2022[83]. - The company has adopted the Model Code for directors' securities transactions and confirmed compliance throughout the accounting period[85].

Financial Performance - The consolidated revenue for 2021 was approximately RMB 344.0 million, a slight decrease from RMB 348.2 million in 2020, while gross profit fell to RMB 133.9 million from RMB 166.9 million[11]. - Profit before taxation increased to RMB 197.3 million in 2021, compared to RMB 97.8 million in 2020, excluding fair value changes and impairment losses[11]. - Profit after tax attributable to the owners of the Company was RMB 164.0 million in 2021, a significant recovery from a loss of RMB 100.9 million in 2020[11]. - For the year ended December 31, 2021, the Group recorded revenue of RMB344.0 million, a decrease of 1.2% from RMB348.2 million in 2020, and gross profit of RMB133.9 million, down from RMB166.9 million, resulting in a gross profit margin of 38.9% compared to 47.9% in 2020[41][44]. - The gross profit margin decreased to 38.9% in 2021 from 47.9% in 2020, reflecting a decline in gross profit to RMB 133.9 million[47]. - The Group recorded a share of profit from an associate of RMB 129.7 million in 2021, significantly up from RMB 38.6 million in 2020[56]. - Finance costs decreased to RMB 65.1 million in 2021 from RMB 89.1 million in 2020 due to the repayment of various loans[63]. - Income tax expense was recorded at RMB 33.2 million in 2021, down from RMB 74.0 million in 2020[64]. - A gain of RMB 28.8 million was recorded from the disposal of a subsidiary during the year[50]. - The company recorded a profit attributable to owners of RMB 164.0 million for the year, a significant recovery from a loss of RMB 100.9 million in 2020[70]. Real Estate Projects - The flagship project Xintian Banshan recorded a total subscription area of approximately 5,200 sqm in 2021, up from 3,500 sqm in 2020, with total sales amounting to approximately RMB 374 million, compared to RMB 237 million in 2020[18]. - Revenue from the delivery and sales of residential units and villas of Xintian Banshan was RMB261.2 million, an increase from RMB182.7 million in 2020, with a gross floor area of approximately 3,800 sqm[42]. - The Yangzhou Intelligent Living City project recorded revenue of RMB31.7 million from office units with a gross floor area of approximately 3,900 sqm[42]. - As of the end of 2021, the subscription amount for commercial units in Xuzhou Intelligent Industrial Town was approximately RMB205.1 million, down from RMB284.8 million in 2020, with a saleable area of 17,300 sqm[29]. - The Group plans to fully complete the Yangzhou Intelligent Life City project by mid-2022 for sale and delivery as completed units[23][25]. - The Group aims to complete the sale of the remaining commercial units of approximately 10,000 sqm in Xuzhou Intelligent Industrial Town in 2022[29]. - The Group has ongoing property development projects, including Xintian Banshan with a planned saleable area of approximately 15,000 sq.m., expected to be completed in 2022[87]. - The Yangzhou Intelligence Living City project has a planned gross floor area of approximately 86,000 sq.m., with a 100% ownership interest and expected completion in Q2 2022[87]. - The Xuzhou Intelligence Industry Town project has a planned gross floor area of approximately 104,000 sq.m., also with a 100% ownership interest and expected completion in Q2 2022[89]. Market Conditions - The real estate market in China faced increased regulatory restrictions in 2021, leading to liquidity crises among large developers and a surge in credit defaults[17]. - The Company adjusted its pricing strategy for Xintian Banshan to accelerate cash recovery in response to market trends[18]. - The future business model in the real estate sector is expected to focus on high-quality growth and refined products, moving away from the previous "high turnover" and "excessive financialization" approach[17]. - The Talent Shoes Trading Center experienced higher tenant loss in the second half of the year due to adverse business conditions, prompting the Group to optimize rental and customer mix in 2022[30]. - The company is focused on reducing inventories, maintaining liquidity, and tightly controlling operating costs to navigate the challenging business environment in the real estate market[77]. - The management is closely monitoring market conditions and formulating selling plans to adapt to changing economic circumstances[74]. - The Group is committed to seizing attractive opportunities for future growth despite the uncertainties posed by global economic factors[77]. Asset Management - Minimal provision for impairment loss was recorded in 2021, following prudent charges in previous years, indicating improved asset management[11]. - Unfavorable fair value changes of RMB 12.0 million were recorded for investment properties, a significant reduction from RMB 213.9 million in 2020[11]. - Fair value deficits of RMB 12.0 million were recorded, down from RMB 45.9 million in 2020, primarily from the Talent Shoes Trading Center[57]. - The Group's investment property and completed properties held for sale were valued at approximately RMB552.0 million and RMB205.5 million, respectively[102]. Corporate Governance - The Company has applied the principles and code provisions of the Corporate Governance Code and has complied with them during the year ended December 31, 2021[131]. - The Board is collectively responsible for leadership and promoting the success of the Company by directing and supervising its affairs[132]. - The Board has delegated day-to-day operations to general managers and department heads, ensuring proper monitoring of business operations[133]. - The Company is committed to maintaining high standards of corporate governance in the interests of shareholders[134]. - The Board currently has no appointed CEO, believing that the existing structure provides strong leadership for effective decision-making and strategy formulation[148]. - The Board consists of five members, including two executive directors and three independent non-executive directors, ensuring a balanced governance structure[148]. - The Nomination Committee met once during the year to assess the independence of retiring independent non-executive directors and recommend re-appointments[158]. - The Remuneration Committee is responsible for attracting and retaining high-caliber directors and senior management, having met once in the year to review remuneration policies[159]. - The Audit Committee, comprising three independent non-executive directors, held three meetings in 2021 to review the Group's annual and interim results, audit plans, and risk management systems[166]. - The Company has adopted a board diversity policy to ensure a balanced and diverse profile on the Board, considering various factors such as gender, age, and industry experience[153]. Employee and Stakeholder Relations - The Group had approximately 213 employees as of December 31, 2021, a decrease from 216 employees in the previous year[103]. - Employee remuneration includes basic salary, medical insurance, performance-related bonuses, and mandatory provident fund contributions, in line with industry practices[164]. - The Group emphasizes the importance of its Directors, senior management, and employees for maintaining market competitiveness, offering competitive remuneration packages and a Share Option Scheme to incentivize contributions[110]. - The Company maintains a website to provide comprehensive information about its major businesses, financial information, and announcements to promote effective communication with shareholders[185]. - The company believes that regular and timely communication with shareholders enhances their understanding of the business and operations[189]. Financial Position - As of December 31, 2021, the Group's total assets were approximately RMB4,220.7 million, a slight decrease from RMB4,266.7 million as of December 31, 2020[94]. - The Group's total equity increased to approximately RMB1,708.6 million from RMB1,597.6 million year-over-year[94]. - The total liabilities decreased to approximately RMB2,512.1 million from RMB2,669.1 million, resulting in a gearing ratio of approximately 59.5%, down from 62.6%[96]. - Bank borrowings amounted to RMB277.2 million, down from RMB312.9 million, with a variable interest rate of 110.6%[96]. - Other borrowings decreased to RMB285.5 million from RMB431.6 million, with fixed interest rates ranging from 10.5% to 11.8%[96]. - Completed properties held for sale amounted to approximately RMB205.5 million, slightly up from RMB204.6 million[102]. - The Group has no outstanding forward contracts in foreign currency, minimizing foreign exchange risk exposure[95]. - The average exchange rate applied for consolidation was HK$1.20610 to RMB1, with a closing rate of HK$1.22356 to RMB1[97].