新城发展考虑在境内发行担保债券，计划筹资15至20亿元人民币。（彭博） ...

新城发展公告，2025年4月集团实现合约销售金额约人民币17.61亿元，合约销售面积约22.83万平方米。 2025年1月至4月累计合同销售金额约人民币68.63亿元，累计销售面积约88.6万平方米。于2025年4月， 本集团房地产出租物业共174个，总建筑面积约1604.4万平方米。2025年4月份租金收入约人民币10.59亿 元，商业运营收入约人民币11.35亿元。2025年1月至4月累计租金收入约人民币42.75亿元，累计商业运 营收入约人民币45.83亿元。 ...

Group 1 - The real estate stocks in China have collectively rebounded, with notable increases in share prices for companies such as New World Development (+4.3%), Vanke (+2.86%), Longfor Group (+2.79%), Country Garden (+2.41%), and Greentown China (+2.14%) [1] - S&P Global Ratings reported that the downward trend in the Chinese real estate sector is finally beginning to ease, with policymakers recognizing stable housing prices as a key factor for consumer demand [1] - The analysis indicates that the Chinese government is more determined to revitalize the real estate industry, with signs of recovery in the property markets of first- and second-tier cities since the introduction of supportive policies in late September 2022 [1] Group 2 - Huatai Securities noted that in April, the sales amount of the top 100 real estate companies decreased by 14.8% month-on-month and 14.6% year-on-year, with a widening decline compared to March [2] - Cumulative sales from January to April showed a year-on-year decrease of 10.1%, indicating a slowdown in growth compared to the first quarter [2] - The report suggests that the real estate market is experiencing seasonal adjustments, with a decrease in overall viewing and transaction volumes in the second quarter, while highlighting the potential for more proactive macro and fiscal policies to support the industry [2]

港股地产股跳水，融创中国(01918.HK)跌超3%，此前一度涨约10%，新城发展(01030.HK)跌近3%，绿 城服务(02869.HK)跌超2%。 ...

Financial Performance - For the year ended December 31, 2024, Seazen Group Limited reported revenue of RMB 89,226,520, a decrease of 25.3% compared to RMB 119,463,530 in 2023[14]. - Profit before income tax for 2024 was RMB 4,193,946, down 16.4% from RMB 5,019,671 in 2023[14]. - The net profit attributable to equity holders of the Company for 2024 was RMB 491,312, a decline of 44.1% from RMB 879,296 in 2023[14]. - Basic earnings per share for 2024 was RMB 0.07, down from RMB 0.12 in 2023, reflecting a decrease of 41.7%[14]. - The Group's revenue for the year ended December 31, 2024, amounted to RMB 89,226.5 million, a decrease from RMB 119,463.5 million in 2023, primarily due to the downturn in the real estate industry[53]. - Revenue from property sales decreased to RMB 76,041.0 million in 2024 from RMB 107,336.4 million in 2023, reflecting a significant contraction in the property business[54]. - The gross profit for the year ended December 31, 2024, was approximately RMB 14,984.4 million, with a gross profit margin of 16.8%, an increase of 3.3 percentage points from the previous year[62]. - The Group recorded a gross profit of approximately RMB14,984.4 million with a gross profit margin of 16.8% for the year ended December 31, 2024, an increase of 3.3 percentage points from 13.5% in the previous year[67]. - Net profit attributable to equity holders of the Company amounted to approximately RMB491.3 million for the year ended December 31, 2024, representing a year-on-year decrease of 44.1%[77]. Assets and Liabilities - Total assets decreased to RMB 309,124,937 in 2024 from RMB 377,088,556 in 2023, representing a decline of 18.1%[14]. - Total liabilities also decreased to RMB 222,335,178 in 2024 from RMB 286,579,215 in 2023, a reduction of 22.4%[14]. - The Company reported a total capital and reserves attributable to equity holders of RMB 86,789,759 in 2024, a decrease from RMB 90,509,341 in 2023[14]. - Non-controlling interests decreased to RMB 40,435,935 in 2024 from RMB 44,637,346 in 2023, a decline of 9.8%[14]. - The total borrowings of the Group amounted to RMB57.73 billion as of December 31, 2024, with a net debt-to-equity ratio of 53.8%[82]. Market Strategy and Expansion - The Company is focusing on market expansion and new product development as part of its future strategy[14]. - Seazen Group Limited is actively exploring potential mergers and acquisitions to enhance its market position[14]. - The company plans to expand its market presence by developing new residential and complex projects in cities such as Nanjing, Xuzhou, and Fuyang, focusing on areas with high demand[20]. - The Group's strategy includes expanding its presence in various provinces, focusing on both residential and complex projects[32]. - The Group's future outlook includes continued expansion in the Greater Bay Area and other regions, with significant land resources available for development[42]. Property Development and Leasing - The total leasable area across major properties is approximately 6,000,000 sq.m., with an accumulated contracted area of about 4,500,000 sq.m., indicating a leasing rate of approximately 75%[19]. - The total number of residential projects under development is 15, with a combined leasable area exceeding 3,000,000 sq.m.[20]. - The company has completed several projects, including the Chuzhou Tianchang Project with a leasable area of 607,864 sq.m. and an accumulated contracted area of 449,627 sq.m., achieving a leasing rate of approximately 74%[20]. - The company is actively pursuing market expansion with multiple projects under development across various cities, including Wenzhou, Fuzhou, and Qingdao[22]. - The total number of completed residential projects is 15, with a combined leasable area of approximately 2,000,000 sq.m.[21]. Financial Management and Investments - The Group's cash balances totaled approximately RMB 10,618.3 million, a decrease of 45.5% from RMB 19,499.9 million in 2023[89]. - The Group raised approximately HKD 1,559.79 million from the Rights Issue, with HKD 623.92 million utilized for repayment of a syndicated loan and the remaining HKD 935.87 million reallocated for repayment of offshore loans[91][93]. - The Group's strategy to adopt a more prudent approach regarding land acquisitions aligns with the overall interests of the Company and its shareholders[95]. - The Group's total accumulated contracted area as of December 31, 2024, was 67,091,828 sq.m.[44]. - The Group's financial condition is impacted by various risks, including liquidity and foreign exchange risks, which require ongoing management and assessment[156]. Governance and Leadership - The company has a diverse Board with members holding significant experience in finance, law, and management[119][121][125]. - The company continues to prioritize experienced leadership to navigate market challenges and opportunities[119][120]. - The Board's composition reflects a commitment to governance and compliance with listing rules[126][128]. - The company is focused on enhancing its ESG initiatives under the leadership of Mr. Zhou and Mr. Wang[117][120]. Market Conditions and Challenges - The Group's business performance is heavily reliant on the property market in mainland China, which is subject to various economic, political, and regulatory changes[153]. - The PRC property market is volatile, with potential undersupply or oversupply of properties and significant price fluctuations, which could adversely affect demand[158]. - The management is committed to prudent operations and will adjust supply structures and marketing strategies to mitigate risks[159]. - The Group does not currently have a foreign currency hedging policy, exposing it to foreign exchange risks from fluctuations in HKD and USD against RMB[162].

《2025年上海市新城发展行动方案》印发 今年将编制完成细分赛道专项规划 金十数据4月15日讯，记者从2025年上海市新城发展行动方案新闻通气会暨"媒体看新城"活动上了解 到，今年，上海市研究发布了《2025年上海市新城发展行动方案》（以下简称《行动方案》）。《行动 方案》聚焦4个方面，提出了8项行动。《行动方案》提出，聚焦新城特色产业细分赛道发展，市区协同 做好企业服务和项目招引工作，提升新城在全市、长三角乃至全国产业格局中的显示度和竞争力。《行 动方案》提出，深入推进旧城区改建、城中村改造，加快新城低效产业用地处置和国企存量土地资源盘 活，率先推进新城国企产业用地分类处置，加快新城重点区域、相对成片地块的土地收储。继续实施建 设用地指标奖励、土地出让收入专项支持、新型基础设施建设项目贴息等政策。 ...

新城发展3月合约销售额21.3亿元人民币；1.3月累计合约销售额51.0亿元人民币。 ...

Financial Performance - Total revenue for the year ended December 31, 2024, was approximately RMB 89,227 million, with commercial property management services and rental income contributing about RMB 12,033 million, representing a year-on-year growth of 13.9%[3] - The company's revenue for the year ended December 31, 2024, was RMB 89,226,520 thousand, a decrease of 25.3% compared to RMB 119,463,530 thousand in 2023[7] - Gross profit was approximately RMB 14,984 million, with a gross profit margin of 16.8%[3] - Gross profit for the same period was RMB 14,984,406 thousand, down 7.3% from RMB 16,167,987 thousand in the previous year[7] - The total comprehensive income for the year was RMB 674,187 thousand, down from RMB 966,054 thousand in 2023, showing a decline in overall profitability[9] - The group recorded a total revenue of RMB 1,347,353,000 from discontinued operations for the period ended November 21, 2023[56] - The group recorded a profit from discontinued operations of RMB 1,251,606,000 for the year ended November 21, 2023[56] - The group’s financial performance from discontinued operations showed a pre-tax profit of RMB 188,382,000 for the year ended November 21, 2023[56] Profitability - Net profit attributable to equity holders of the company was approximately RMB 491 million[3] - Profit from continuing operations was RMB 682,098 thousand, compared to a loss of RMB 467,034 thousand in 2023, indicating a recovery in core business performance[7] - The company reported a profit attributable to equity holders from continuing operations of RMB 491,312,000 for the year ended December 31, 2024, compared to a loss of RMB 366,785,000 in 2023[48] - Basic earnings per share from continuing operations improved to RMB 0.07 from a loss of RMB 0.05 in the previous year[7] - The net profit attributable to equity holders for the year ending December 31, 2024, is approximately RMB 491.3 million, a decline of 44.1% year-on-year[8] Assets and Liabilities - Total assets as of December 31, 2024, were RMB 377,088,556 thousand[6] - Total liabilities amounted to RMB 222,335,178 thousand, compared to RMB 286,579,215 thousand in the previous year[6] - The net debt to equity ratio stood at 53.8%[3] - Current liabilities were RMB 171,664,601 thousand, down from RMB 238,673,296 thousand in the previous year[6] - The total short-term borrowings amounted to RMB 16,071,392,000, with cash and cash equivalents at RMB 6,914,613,000 and restricted cash at RMB 3,703,679,000[15] - As of December 31, 2024, the group's current liabilities exceeded current assets by RMB 17,743,103,000[15] Financial Management - Total borrowings amounted to approximately RMB 57,733 million, a decrease of 8.6% year-on-year, with a weighted average borrowing cost of 5.88%, down by 0.27 percentage points[3] - The board believes that the group will be able to obtain sufficient operating funds and financing sources to ensure the repayment of debts due within 12 months after December 31, 2024[16] - The group aims to enhance its operational management position and increase total revenue as a key source for interest repayment on debt[18] - The group plans to leverage financial policy support to increase operational property financing and actively participate in innovative financing related to real estate[18] - The group intends to utilize various methods to activate existing assets and increase cash sources, seizing opportunities from policy implementations[18] Operational Efficiency - Operating profit decreased to RMB 6,763,257 thousand from RMB 6,224,954 thousand, reflecting a decline in operational efficiency[7] - The company incurred a net impairment loss on financial assets of RMB 908,136 thousand, down from RMB 1,197,403 thousand in 2023, suggesting improved asset quality[7] - The company’s marketing expenses decreased to RMB 4,032,137 thousand from RMB 5,209,342 thousand, reflecting cost-cutting measures[7] - Administrative expenses decreased by 23.0% to approximately RMB 3,193.6 million for the year ending December 31, 2024, primarily due to a reduction in staff and cost-saving measures[10] Market and Sales - In 2024, the company recorded property sales revenue of approximately RMB 76,041 million, with a total delivered property area of about 9,854,354 square meters[66] - The average selling price of properties delivered in 2024 was RMB 7,716 per square meter[66] - The company achieved a total contract sales amount of approximately RMB 40,171 million, with a contract sales area of about 5,388,200 square meters[68] - The average contract sales price (excluding parking spaces) was RMB 9,832 per square meter[68] - The company delivered over 100,000 residential units in 2024 and opened 15 new Wuyue Plaza locations, increasing property management area by over 25 million square meters[60] Corporate Governance - The company has adhered to corporate governance standards, ensuring compliance with applicable rules and regulations throughout the fiscal year ending December 31, 2024[96] - The board confirmed compliance with the standard code for securities trading by directors for the fiscal year ending December 31, 2024[97] - The company has implemented a performance review system to evaluate employee performance and determine salary adjustments and promotions[92] Future Outlook - The real estate market in China is expected to stabilize with supportive policies, leading to anticipated sales revenue growth for the company in 2025[59] - The available land resources for future residential sales amount to approximately 31.44 million square meters as of December 31, 2024[70]

分享喜悅 不負情懷 Seazen Group Limited 2024 中期報告 INTERIM REPORT 目錄 CONTENTS | --- | --- | --- | --- | --- | |---------------------------------------------------------------------------|-------|-------|-----------------------------------------------------------------------------------------------|-------| | | | | | | | 公司資料 Corporate Information | 2 | • | 簡明合併全面收益表 Condensed Consolidated Statement | 54 | | 主要物業明細 Breakdown of Major Properties | 5 | • | of Comprehensive Income 簡明合併權益變動表 | 55 | | 管理層討論及分析 Management D ...

Financial Performance - Total operating revenue for the six months ended June 30, 2024, was approximately RMB 6,212 million, representing a year-on-year increase of 19.44%[2] - Net profit attributable to equity holders of the company was approximately RMB 959 million, while core profit was approximately RMB 1,050 million[2] - The company's profit for the six months ended June 30, 2024, was RMB 1,390,502 thousand, a decrease of 39.7% compared to RMB 2,304,373 thousand for the same period in 2023[8] - Total comprehensive income for the period was RMB 1,386,973 thousand, down 21.8% from RMB 1,773,450 thousand in the previous year[8] - The company's equity holders' share of total comprehensive income was RMB 956,870 thousand, compared to RMB 1,075,665 thousand in the same period last year, reflecting a decline of 11.0%[8] - The company reported a basic earnings per share of RMB 0.14 for the six months ended June 30, 2024, compared to RMB 0.20 for the same period in 2023[6] - The company reported a profit attributable to equity holders of RMB 959,244 thousand for the six months ended June 30, 2024, compared to RMB 1,431,155 thousand in 2023, reflecting a decline of 32.9%[36] - Basic and diluted earnings per share for the six months ended June 30, 2024, were RMB 0.14, down from RMB 0.20 in the same period of 2023[36] Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 358,493 million, a decrease from RMB 377,088 million as of December 31, 2023[5] - Current assets totaled RMB 200,717 million, down from RMB 218,982 million at the end of 2023[5] - The company's total liabilities decreased to RMB 269,141 million from RMB 286,579 million as of December 31, 2023[5] - Total assets as of June 30, 2024, amounted to RMB 358,493,549 thousand, a decrease of 2.4% compared to December 31, 2023[17] - Total liabilities as of June 30, 2024, were RMB 269,140,905 thousand, down by 2.4% from the previous period[17] - The net debt to equity ratio stood at 50.5%[2] - The net debt to equity ratio as of June 30, 2024, was 50.5%, an increase from 47.7% as of December 31, 2023[59] Revenue and Sales - Total revenue for the six months ended June 30, 2024, was RMB 34,003,339 thousand, showing a decrease of 0.03% compared to the previous period[16] - Revenue for the six months ended June 30, 2024, was RMB 34,003,339 thousand, down 20.1% from RMB 42,532,349 thousand for the same period in 2023[26] - The total revenue from property development for the first half of 2024 was approximately RMB 27,550 million, with a total delivered area of 3,186,784 square meters and an average selling price of RMB 8,645 per square meter[49] - The property sales revenue for the first half of 2024 was RMB 27,550 million, while commercial property management service income was RMB 3,181.1 million, up from RMB 2,134.7 million in 2023[52] Expenses and Costs - Total expenses for the six months ended June 30, 2024, amounted to RMB 30,510,968 thousand, a decrease of 21.5% compared to RMB 38,857,096 thousand for the same period in 2023[27] - Construction costs decreased to RMB 12,636,184 thousand from RMB 16,655,266 thousand, representing a reduction of 24.3%[27] - Employee costs fell to RMB 1,354,897 thousand, down 24.5% from RMB 1,795,599 thousand in the previous year[27] - Sales and marketing costs decreased by 2.0% to approximately RMB 1,646.1 million compared to RMB 1,680.0 million in the same period of 2023[54] - Administrative expenses decreased by 18.0% to approximately RMB 1,688.4 million from RMB 2,060.2 million in the same period of 2023[55] - The total income tax expense for the six months ended June 30, 2024, was RMB 944,044 thousand, a decrease of 34.9% from RMB 1,449,101 thousand in 2023[29] Financing and Debt - Average interest rate on bank loans, preferred notes, and corporate bonds was 6.02%[2] - The company reported total borrowings of RMB 47,768,951 thousand as of June 30, 2024, an increase of 6.5% from RMB 44,880,119 thousand as of December 31, 2023[23] - The company’s short-term borrowings with collateral were RMB 1,783,920 thousand as of June 30, 2024, a decrease of 22.5% from RMB 2,299,755 thousand as of December 31, 2023[23] - The company’s non-collateralized borrowings from banks and non-bank financial institutions were RMB 2,007,716 thousand as of June 30, 2024, a decrease of 9.1% from RMB 2,208,817 thousand as of December 31, 2023[23] Operational Highlights - In the first half of 2024, the company achieved contract sales of approximately RMB 23,554 million, with a total sales area of about 3.26 million square meters, resulting in an average contract sales price of approximately RMB 9,214 per square meter[41] - The company successfully delivered over 57,000 residential units in the first half of 2024 and ranked among the top six in terms of signed construction projects[38] - The commercial operation revenue for the first half of 2024 reached approximately RMB 6,212 million, with an occupancy rate of 97.24% across 201 operational and under-construction urban complexes[38] - As of June 30, 2024, the company had pre-sold but not delivered properties valued at approximately RMB 140,297 million, with a total construction area of about 19.16 million square meters[43] - The company has approximately 33.49 million square meters of land resources available for future residential sales as of June 30, 2024[44] Corporate Governance and Compliance - The financial statements were prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with local regulations[10] - The company has not adopted any new accounting standards that would significantly impact its financial performance for the six months ended June 30, 2024[12] - The company has adopted the corporate governance code as per the listing rules and has complied with the governance standards as of June 30, 2024[70] - The audit committee, composed entirely of independent non-executive directors, reviewed the group's accounting principles and policies for the six-month period ending June 30, 2024[72] Employee and Workforce - As of June 30, 2024, the group employed 20,602 full-time employees in China and Hong Kong[66] - The group has established an annual review system to evaluate employee performance and determine salary increases or promotions[66]