Corporate Recognition and Awards - China Tianbao Group Development Company Limited has been recognized as the Most Socially Responsible Listed Company by Zhitongcaijing[16] - The company achieved a Corporate Credit Rating of 3A from the China Construction Industry Association[17] - It received a Four-star National Customer Satisfaction rating from the China Association for Quality[17] - In 2024, the company was named a Typical Enterprise of Engineering and Construction Integrity by the China Association of Construction Enterprise Management[17] - The company was awarded the 2024 Outstanding Case of Corporate Culture Construction in Engineering Construction by the China Association of Construction Enterprise Management[17] - It was recognized as an Advanced Unit in Emergency Management and Safety Production in Hebei Province for 2023[17] - The company was awarded the 6th Outstanding Folk Culture Industry in Hebei Province by the Hebei Folk Culture Association[17] - In 2024, it was recognized as an Advanced Enterprise of Hebei Building Decoration Industry Association[17] - The company holds a Certificate of Member of the Standing Committee of Hebei Building Decoration Industry Association[17] Financial Performance - For the year ended December 31, 2024, the Group's revenue was approximately RMB2,036 million, representing a decrease of 25.1% compared to RMB2,717 million in 2023[54] - The underlying loss of the Group was approximately RMB162 million, contrasting with an underlying profit of RMB31 million in 2023[54] - The reported loss of the Group amounted to approximately RMB166 million, compared to a reported profit of approximately RMB11 million in 2023[55] - The decrease in property revenue, gross profit, and delivered area was primarily due to the weak real estate market in China[55] - The Group's revenue for the year ended December 31, 2024, decreased by 25.1% to approximately RMB2,036 million, down from RMB2,717 million in 2023[61] - Revenue from the construction contracting business decreased by 13.9% from approximately RMB2,170 million in 2023 to approximately RMB1,868 million in 2024[162][165] - The Group's gross profit decreased by 66.0% from approximately RMB162 million for the year ended December 31, 2023, to approximately RMB55 million for the year ended December 31, 2024, resulting in a gross margin of approximately 2.7%[177] - The construction contracting business's gross profit increased from approximately RMB100 million in 2023 to approximately RMB107 million in 2024, maintaining a stable gross margin[177] Project Development and Contracts - The Company signed cooperation contracts in 16 regions and established 6 new branches, securing 172 projects throughout the year[32] - The aggregate backlog of construction projects as of December 31, 2024, was approximately RMB8,402.3 million[72] - The new contract value for the year ended December 31, 2024, was RMB2,328.8 million, up from RMB1,989.5 million in 2023, indicating a growth of about 17.0%[112] - The building construction segment represented 28.2% of the total contract value in the backlog for 2024, down from 38.0% in 2023[106] - The industrial, commercial, and infrastructure construction segment increased to 71.8% of the total contract value in the backlog for 2024, up from 62.0% in 2023[106] Real Estate and Property Development - The Group's property development portfolio consists of 20 projects, with 14 completed, 3 under construction, and 3 held for future development as of December 31, 2024[114] - Revenue from property development for the year ended December 31, 2024, was RMB168.1 million, a decrease from RMB546.7 million in 2023, reflecting a decline of approximately 69.3%[117] - The total gross floor area (GFA) of land reserves was approximately 1,000,500 sq.m., with completed properties accounting for 26.2% of total land reserves[114] - The Group's total land reserves amount to 1,000,500 sq.m., with 38.4% located in Zhuozhou and 61.6% in Zhangjiakou[142] Healthcare Initiatives - The healthcare segment is set to integrate comprehensive hospital, nursing care, and elderly care community services, with operations expected to commence before May 2025[47] - The healthcare center successfully signed a cooperation agreement with Beijing Jiaotong University and was unveiled during the Double Ninth Festival in 2024[38] - The project at Jingbei Health City has a total investment of approximately RMB2.55 billion, with RMB1.13 billion invested as of December 31, 2024[156] - The project aims to establish a Continuing Care Retirement Community to provide integrated living facilities and services for the elderly[156] - The elderly population in Beijing reached 22.6% in 2023, indicating a growing demand for elderly care services[145][149] Market Conditions and Challenges - The sales area of newly-built commercial housing in China was 973.85 million sq.m. in 2024, a year-on-year decrease of 12.7%, with residential housing sales area decreasing by 14.1%[22] - The sales amount of newly-built commercial housing was RMB9,675 billion in 2024, reflecting a year-on-year decrease of 17.1%, with residential housing sales amount decreasing by 17.6%[22] - The Group is focused on optimizing project quality and revitalizing stock while ensuring cash flow returns through stringent project selection[50] - The Group's total bank and other loans increased to approximately RMB1,362 million in 2024, compared to RMB1,046 million in 2023[66] Strategic Plans and Future Outlook - The Group plans to explore diversified development models under the "Construction+" strategy to enhance its market layout[45] - The Group is positioned to benefit from national policies supporting the elderly care industry, which is a key focus of government initiatives[146][149] - The project will provide 350 beds for medical treatment and 8,500 beds for elderly healthcare, with the first phase expected to commence business in Q2 2025[156] - The Group continues to engage in high-value construction projects, indicating a strong market position and capability to handle complex projects[88]

集团自1998年起一直从事建筑承包业务，作为楼宇、工业、商业及基础设施建筑项目的总承建商，大部 分收益产生自该业务。截至2024年12月31日止年度，集团主要自京津冀地区(主要位于河北省及北京)的 建筑项目产生大部分建筑承包收益。集团于其他地理位置的建筑项目主要位于内蒙古、安徽省、山东省 及重庆市。截至2024年12月31日止年度，集团新签订合同总额约人民币23.29亿元。于2024年12月31 日，建筑项目的未完成合同总金额为约人民币84.02亿元。 于本报告期间，集团承接大多数该等建筑项目时均以总承建商身份行事。作为总承建商，集团会开展建 筑项目的所有重大方面，包括楼宇建筑、地基工程、幕墙建设、建筑装饰及防火项目。集团亦须负责委 聘分包商为建筑项目提供建筑服务及劳动力、与工程各方协调合作、提供主要设备及机械、采购原材料 及确保建筑工程按时完成。集团相信，作为总承建商承接建筑项目即表明出集团的整体能力且对集团的 持续成功极为重要。于2017年获授特级资质后，集团能够并预期继续能够承接全国範围内复杂程度及回 报均较高的大规模楼宇建筑项目，并能根据集团的服务收取溢价。 智通财经APP讯，中国天保集团(01427 ...

Financial Performance - Revenue for the construction contracting business decreased to RMB 1,867,859,000 from RMB 2,169,878,000, a decline of approximately 13.9%[2] - Revenue from real estate development and other businesses fell to RMB 168,054,000 from RMB 546,711,000, representing a decrease of about 69.4%[2] - The company's gross profit dropped to RMB 54,734,000 compared to RMB 161,913,000, a decline of approximately 66.2%[6] - The net loss for the year was RMB 165,554,000, compared to a profit of RMB 10,990,000 in the previous year, indicating a significant downturn[6] - Basic loss per share was RMB (0.20), compared to earnings of RMB 0.01 per share in the prior year[6] - Total revenue for the year ending December 31, 2024, is reported at RMB 2,169,196,000, with external sales contributing RMB 2,035,913,000[39] - The group’s profit before tax for 2024 was a loss of RMB 165,554 thousand, compared to a profit of RMB 10,990 thousand in 2023, indicating a significant decline in profitability[65] - Total revenue decreased by 25% from approximately RMB 2,717 million for the year ended December 31, 2023, to approximately RMB 2,036 million for the year ending December 31, 2024[139] - Gross profit decreased by 66.2% from approximately RMB 162 million to approximately RMB 55 million, with a gross margin of 2.7% for the year ending December 31, 2024[144] - The group reported a basic loss of approximately RMB 162 million for the year ended December 31, 2024, compared to a basic profit of approximately RMB 31 million for the year ended December 31, 2023[154] Assets and Liabilities - Total assets decreased to RMB 6,245,351,000 from RMB 6,069,129,000, reflecting a reduction of approximately 2.8%[10] - Current liabilities increased to RMB 4,753,909,000 from RMB 4,523,231,000, an increase of about 5.1%[12] - The total equity attributable to the owners of the parent decreased to RMB 854,498,000 from RMB 1,013,971,000, a decline of about 15.7%[12] - As of December 31, 2024, the group's net current liabilities amounted to RMB 324,453,000, with short-term bank and other borrowings totaling RMB 786,621,000, of which RMB 39,870,000 (equivalent to RMB 286,421,000) was overdue[20] - The total liabilities stand at RMB 5,390,853,000, reflecting inter-segment eliminations[39] - The company's total assets were reported at RMB 6,069,129,000, with total liabilities of RMB 5,055,158,000[41] - The group's total interest-bearing bank and other borrowings amounted to RMB 1,361.8 million as of December 31, 2024, compared to RMB 1,045.6 million in 2023[162] - The current ratio decreased to 0.93 as of December 31, 2024, from 0.96 in 2023[165] - The debt-to-equity ratio increased to 159.4% as of December 31, 2024, from 103.1% in 2023[165] Cash Flow and Financing - The company's cash and cash equivalents rose to RMB 213,719,000 from RMB 187,924,000, an increase of approximately 13.8%[10] - The cash and cash equivalents of the group as of December 31, 2024, were RMB 213,719,000, indicating a significant liquidity concern[191] - The group has provided guarantees for mortgage financing amounting to RMB 1,713.4 million as of December 31, 2024 (2023: RMB 1,789.4 million)[168] - Financing costs increased by 2.4% from approximately RMB 71.5 million for the year ended December 31, 2023, to approximately RMB 73.2 million for the year ended December 31, 2024[152] Business Segments - The construction contracting segment generated revenue of RMB 1,867,859,000, while the healthcare segment reported a loss of RMB 110,293,000[39] - The group has reclassified its business segments into three reportable segments: construction contracting, real estate development, and healthcare services[37] - The healthcare segment is focused on developing a continuous care retirement community in Tianbao, Beijing[40] - The group continues to provide construction services for municipal and public infrastructure projects, primarily serving local government entities[88] - The group’s real estate development business includes 20 diversified projects, with 17 residential and commercial properties, 2 investment properties, and 1 hotel, all owned and developed by the company[109] Real Estate Development - Revenue from real estate development for the year ended December 31, 2024, was RMB 168,054,000, a decrease of 69.3% from RMB 546,711,000 in 2023[110] - Residential property sales contributed RMB 155,286,000, representing 92.4% of total revenue in 2024, down from 98.5% in 2023[110] - The Tianbao Green City project in Zhuozhou has launched 874 units, with 840 units sold as of December 31, 2024[112] - The Tianbao New City project in Zhangbei County has a total construction area of approximately 600,000 square meters, with residential units nearly sold out as of December 31, 2024[117] - The Tianbao Platinum Bay project has sold 1,334 out of 1,836 available residential units as of December 31, 2024[122] Healthcare Services - The total investment in the healthcare project is approximately RMB 2.55 billion, with RMB 1.13 billion already invested as of December 31, 2024[doc id='137'] - The healthcare project aims to provide 350 medical beds and 8,500 elderly care beds, with the first phase expected to open in Q2 2025[doc id='137'] - The construction of the second phase of the healthcare project is planned to start in Q1 2026, with completion expected between late 2026 and mid-2027[doc id='137'] - The group aims to establish the largest mid-to-high-end health and wellness industry city in the northwestern region of Beijing[doc id='137'] Corporate Governance and Management - The board of directors did not recommend a final dividend for the year ending December 31, 2024, consistent with the previous year[4] - The company has announced a change in CEO from Mr. Li Baotian to Ms. Shen Lifeng, aligning with corporate governance standards[186] - The audit committee consists of three independent non-executive directors, ensuring proper oversight of financial reporting and internal controls[191] - The company expressed gratitude to shareholders, customers, and partners for their ongoing support and commitment to sustainable business development[195] Market Conditions and Future Outlook - The management acknowledges significant uncertainty regarding the ability to achieve the outlined plans and measures due to the volatility of the Chinese real estate market and the uncertainty of continued support from banks and creditors[21] - The group is actively pursuing opportunities in the elderly care market, which is expected to grow significantly due to the rapid aging of the population[130] - The government has introduced various policies to support the elderly care industry, viewing it as a key area for promoting social welfare and economic restructuring[130]

® TBGD China Tianbao Group Development Company Limited 中國天保集團發展有限公司 ( Incorporated in the Cayman Islands with limited liability ) ( 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ) | --- | --- | --- | --- | |----------------------------|-------|---------------|----------------| | | | | | | Stock Code 股份代號: 01427 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 2024 中期報告 | INTERIM REPORT | CONTENTS 目 錄 Page 頁 次 | --- | --- | --- | |-------|--------------------------------------------------------------- ...

B_table indent_4.5 mm N_table indent_4 mm 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的內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不 對 因 本 公 告 全 部 或 任 何部份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。 CHINA TIANBAO GROUP DEVELOPMENT COMPANY LIMITED 中國天保集團發展有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1427） 截 至2024年6月30日止六個月的未經審核中期業績公告 | --- | --- | --- | --- | --- | |--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ ...

Revenue Growth - The company reported a significant increase in revenue, achieving a total of $500 million, representing a 20% growth year-over-year[1]. - The company projects a revenue growth of 25% for the next fiscal year, aiming for $625 million[1]. - The Group's revenue for the year ended December 31, 2023, increased by 41% to approximately RMB 2,717 million, compared to RMB 1,924 million in 2022[62][70]. - Revenue from the construction contracting business rose by 49% from approximately RMB 1,455 million in 2022 to approximately RMB 2,170 million in 2023, attributed to increased construction volume post-epidemic[192]. - Revenue from property development for the year 2023 was RMB 546.7 million, an increase from RMB 468.5 million in 2022, representing a growth of approximately 16.7%[136]. User Engagement - User data indicates a rise in active users to 1.2 million, marking a 15% increase compared to the previous year[1]. Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 10% market share within the next two years[1]. - The Group continues to expand its market presence through various large-scale construction projects across different regions in China[100]. Strategic Initiatives - New product launches are expected to contribute an additional $50 million in revenue, with a focus on innovative technology solutions[1]. - A strategic acquisition of a local competitor is anticipated to enhance operational capabilities and increase market penetration[1]. - The company aims to improve its corporate governance practices, with a focus on transparency and accountability in operations[1]. - The Group aims to transform and upgrade the healthcare and elderly care sector, focusing on mid-to-high-end continuous healthcare communities[58][59]. Research and Development - Research and development expenditures have increased by 30%, totaling $30 million, to support new technology initiatives[1]. Awards and Recognition - The company has received several industry awards, including recognition as the "Most Valuable Social Services Company" in 2023[1]. - The construction segment has been awarded the prestigious Luban Award for quality, enhancing the company's reputation in the industry[1]. - Tianbao Construction Group won 12 awards in corporate management, 62 in technology, and 15 in engineering during 2023[32]. Financial Performance - The underlying profit of the Group was approximately RMB 31 million, a significant recovery from the underlying loss of RMB 159 million in 2022[62][68]. - The reported profit amounted to approximately RMB 11 million, contrasting with a reported loss of approximately RMB 347 million in 2022[63][68]. - As of December 31, 2023, the Group's net assets were approximately RMB 1,014 million, an increase from RMB 1,000 million in 2022[75]. - The Group's total bank and other loans increased to approximately RMB 1,046 million in 2023, compared to RMB 904 million in 2022[75]. - The net debt of the Group as of December 31, 2023, was approximately RMB 609 million, up from RMB 278 million in 2022[75]. Construction Projects - The construction of the Jingbei Health City project is expected to create employment opportunities for 5,000 individuals[48][52]. - The backlog value of outstanding projects as of December 31, 2023, was RMB 7,542.6 million, a decrease from RMB 7,934.2 million in 2022, indicating a reduction of approximately 4.9%[120]. - The largest project in the backlog is the Middle School Teacher's Dormitory Construction Project in Lu'an City, with a contract value of approximately RMB 131 million[110]. - The Rainwater and Sewage Pipeline Network Improvement Project in Beidaihe District has a contract value of approximately RMB 103 million, covering 36 km of sewage and drainage pipes[111]. Real Estate Development - The company established 11 new subsidiaries in regions including Anhui and Fujian, bringing the total to 40 subsidiaries across 27 provinces and cities[33]. - The Tianbao Real Estate Group completed the internal public area renovation and landscaping of apartments in Jingbei Health City, meeting delivery conditions[41]. - The company is actively planning a transformation in its real estate strategy based on the Jingbei Health City Project, focusing on the healthcare industry[42]. - The Huailai Jingbei Health City Project aims to address the demand for elderly care in the Beijing area, integrating medical care, rehabilitation, and health care[43]. Elderly Care Focus - The elderly care industry is a key focus of national policies, with the proportion of residents aged 60 and above in Beijing reaching 21.3% in 2022, indicating a growing demand for elderly care services[172][175]. - The central government proposed in May 2023 to expand the Beijing-Tianjin elderly care project into Hebei, focusing on cooperation with tertiary hospitals and utilizing local resources to attract elderly residents[179]. - The Jingbei Health City project will provide 350 medical treatment beds and 8,500 elderly healthcare beds upon completion, with the first phase expected to commence business in Q4 2024[185]. Construction Costs - The Group's costs of sales include labor costs, raw material costs, machinery costs, subcontracting costs, and other costs related to construction contracting services[200]. - Property development costs primarily consist of land costs, construction costs, and rent costs[200].

Financial Performance - Revenue for the year ended December 31, 2023, increased to RMB 2,716,589 thousand, up 41.3% from RMB 1,923,869 thousand in 2022[3] - Gross profit for the year was RMB 161,913 thousand, compared to RMB 114,712 thousand in the previous year, representing an increase of 41.2%[3] - The company reported a net profit of RMB 10,990 thousand for 2023, a significant recovery from a net loss of RMB 347,346 thousand in 2022[3] - Basic earnings per share for the year was RMB 0.01, compared to a loss per share of RMB 0.43 in the previous year[3] - Total revenue for the year ended December 31, 2023, was RMB 2,708,246 thousand, an increase from RMB 1,912,000 thousand in 2022, representing a growth of approximately 41.7%[43] - The group’s basic profit for the year ended December 31, 2023, was approximately RMB 31 million, compared to a basic loss of approximately RMB 159 million for the year ended December 31, 2022[145] - The total tax expenses for the year amounted to RMB 33,285 thousand, compared to RMB 18,746 thousand in 2022[55] - The income tax expense increased to approximately RMB 33.3 million for the year ended December 31, 2023, from a reversal of approximately RMB 18.7 million for the year ended December 31, 2022[144] Assets and Liabilities - Total non-current assets increased to RMB 1,710,921 thousand in 2023, up from RMB 741,054 thousand in 2022[6] - Current liabilities decreased to RMB 4,523,231 thousand in 2023 from RMB 4,992,969 thousand in 2022[8] - The company’s total equity increased slightly to RMB 1,013,971 thousand in 2023 from RMB 1,000,055 thousand in 2022[8] - Total assets as of December 31, 2023, amounted to RMB 6,069,129,000, with total liabilities of RMB 5,055,158,000, indicating a healthy asset-to-liability ratio[34] - As of December 31, 2023, the total interest-bearing bank and other borrowings amounted to RMB 1,045,562 thousand, an increase of 15.6% from RMB 904,238 thousand in 2022[153] - The current ratio as of December 31, 2023, was 1.0, compared to 1.11 in 2022, indicating a slight decrease in liquidity[156] - The capital debt ratio increased to 103.1% in 2023 from 90.4% in 2022, reflecting a higher level of debt relative to equity[156] - The net capital debt ratio rose significantly to 60.1% in 2023 from 27.9% in 2022, indicating increased leverage[156] Revenue Segmentation - The construction contracting segment generated revenue of RMB 2,169,878,000 from external customers, while the real estate development segment contributed RMB 546,711,000, totaling RMB 2,716,589,000 in external sales[34] - Revenue from construction contracting was RMB 2,169,878 thousand for 2023, up from RMB 1,455,411 thousand in 2022, reflecting a growth of about 49.0%[45] - Revenue from real estate development reached RMB 538,368 thousand in 2023, compared to RMB 456,589 thousand in 2022, marking an increase of approximately 17.9%[43] - The pre-tax profit for the group was significantly impacted by construction contracting costs, which rose to RMB 2,069,793 thousand in 2023 from RMB 1,378,760 thousand in 2022, an increase of approximately 50.2%[51] Cash Flow and Financing - The company’s cash and cash equivalents decreased to RMB 187,924 thousand in 2023 from RMB 222,976 thousand in 2022[6] - The group is actively reviewing its debt structure and seeking financing opportunities to improve its financial position[17] - The group aims to generate positive operating cash flow over the next twelve months by enhancing its construction contracting and property development services[17] - The group has secured new long-term bank financing of RMB 800,000,000, with RMB 440,000,000 drawn as of the announcement date[16] - The company reported a significant liquidity concern, with interest-bearing bank and other borrowings due amounting to RMB 540,562,000, while cash and cash equivalents were only RMB 187,924,000[182] Accounting Standards and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and the Hong Kong Companies Ordinance, with values rounded to the nearest thousand[12] - The group has adopted new and revised International Financial Reporting Standards for the current year's financial statements[19] - The amendments to IAS 1 require entities to disclose significant accounting policies rather than just the main accounting policies, which may impact users' decisions based on financial statements[20] - The revisions to IAS 8 clarify the distinction between changes in accounting estimates and changes in accounting policies, ensuring consistency in the application of measurement methods and input data[20] - The group has disclosed significant accounting policy information in Note 2 of the financial statements, ensuring compliance with the revised standards[20] Business Operations and Strategy - The group is focusing on the construction contracting business, aligning with national policies to ensure steady development[170] - The real estate segment aims for comprehensive upgrades through strong sales and improved cash collection strategies[171] - The health and wellness business is undergoing a transformation, with a focus on high-end continuous care communities, starting with key projects in Hebei[172] - The company is expanding its construction contracting business beyond the Beijing-Tianjin-Hebei region to areas including Anhui Province and Inner Mongolia[99] - The company has a diversified portfolio of 20 real estate projects, including 17 residential and commercial properties, 2 investment properties, and 1 hotel[101] Shareholder and Governance - The company did not recommend a final dividend for the year ended December 31, 2023, consistent with the previous year[2] - The company has maintained compliance with the corporate governance code throughout the reporting period[164] - The company expresses gratitude to shareholders, customers, and partners for their ongoing support and commits to sustainable business development[186] - The annual general meeting is scheduled for May 23, 2024, with a suspension of share transfer registration from May 20 to May 23, 2024[174]

Financial Performance - The Group's revenue for the six months ended June 30, 2023, was approximately RMB 944 million, a decrease of approximately RMB 50 million (5.0%) compared to the same period in 2022[16]. - Revenue from the property development business was approximately RMB 212 million, representing a decrease of approximately RMB 153 million (41.8%) compared to the 2022 corresponding period[16]. - Revenue from the construction contracting business was approximately RMB 732 million, an increase of approximately RMB 103 million (16.3%) compared to the 2022 corresponding period[16]. - The Group's gross profit for the reporting period was approximately RMB 90 million, with a gross profit margin of 9.6%[17]. - The underlying profit for the reporting period was approximately RMB 26 million, compared to an underlying loss of approximately RMB 13 million for the same period in 2022[17]. - Reported profit for the first half of 2023 was RMB 3,100,000, compared to a loss of RMB 43,245,000 in the same period of 2022[25]. - Underlying profit for the first half of 2023 was RMB 25,787,000, a significant improvement from a loss of RMB 13,393,000 in the first half of 2022[25]. - The total revenue for the first half of 2023 is RMB 944,263,000, a decrease of 5.0% compared to RMB 993,938,000 in the same period of 2022[59]. - The property development business generated revenue of RMB 212,044,000, accounting for 22.5% of total revenue, down from RMB 364,539,000 and 36.7% in 2022[59]. - The construction contracting business revenue increased to RMB 732,219,000, representing 77.5% of total revenue, compared to RMB 629,399,000 and 63.3% in 2022, indicating a growth of 16.4%[59]. Market Trends - National real estate development investment in the first half of 2023 was RMB 5,855 billion, representing a year-on-year decrease of 7.9%[28]. - The sales area of commercial housing in the first half of 2023 was 595.15 million square meters, a year-on-year decrease of 5.3%[28]. - The real estate market is expected to gradually bottom out and recover in the second half of 2023, supported by consumption policies and infrastructure investment growth[35]. - The central and local governments are expected to continue implementing favorable policies to promote the healthy development of the real estate industry in the second half of 2023[36]. Project Development - The Tianbao Jingbei Health City Project is expected to make substantial progress with support from various government levels and industry stakeholders[44]. - The company reported a total of 1,000,000 square meters of completed gross floor area (GFA) across various projects, with 100% of the properties being rentable[50]. - The Tianbao New City Phase I project has a completed GFA of 132,778.0 square meters, with 121,080.0 square meters being saleable[51]. - The Tianbao Smart Building Technology Park Project has a total GFA of 175,434.5 square meters, with 134,658.2 square meters held for future development[50]. - The Tianbao Edelweiss City project has a completed GFA of 272,073.6 square meters, with 200,087.9 square meters being saleable[51]. - The company is actively developing multiple phases of the Tianbao New City, with ongoing projects showing significant square meter allocations for future growth[51]. - The total unsold saleable GFA across all projects is currently 36,346.8 square meters, indicating potential for future sales[51]. - The company has a strategic focus on residential and commercial properties, with a diverse portfolio across different regions[50]. - The Tianbao Lingyun City project has a completed GFA of 89,120.8 square meters, with 60,902.6 square meters being rentable[50]. - The Group's future development plans include several projects with significant GFA under development, indicating a strong growth trajectory[53]. Financial Position - As of June 30, 2023, the net gearing ratio of the Group was approximately 51.6%, up from 27.9% as of December 31, 2022[17]. - The Group's total cash and cash equivalents amounted to approximately RMB 541 million, down from approximately RMB 626 million as of December 31, 2022[183]. - The Group's total interest-bearing bank and other borrowings as of June 30, 2023, were approximately RMB 1,057.446 million, compared to RMB 904.238 million as of December 31, 2022[195]. - The Group's secured bank borrowings had an effective interest rate ranging from 5.20% to 6.65% with maturities between 2024 and 2026[192]. - The Group's cash position included pledged deposits of approximately RMB 326 million as of June 30, 2023, down from approximately RMB 403 million as of December 31, 2022[183]. Construction Contracting - The Group's construction contracting revenue for the six months ended June 30, 2023, reached RMB 732,219,000, a 16.4% increase from RMB 629,399,000 in the same period of 2022[103]. - Revenue from the Beijing-Tianjin-Hebei region accounted for 65.9% of total construction contracting revenue in the first half of 2023, up from 56.6% in 2022[103]. - Building construction projects generated RMB 318,836,000, representing 43.5% of total revenue for the six months ended June 30, 2023[112]. - The Group's industrial, commercial, and infrastructure construction projects contributed RMB 413,383,000, which is 56.5% of total revenue for the same period[112]. - The total outstanding contract value as of June 30, 2023, is RMB 8,552.5 million, an increase of 27.3% from RMB 6,718.4 million in 2022[131]. - New contract value for the six months ended June 30, 2023, is RMB 949.3 million, up from RMB 874.6 million in the same period of 2022, representing an increase of 8.5%[140]. Cost Management - The Group's cost of sales decreased from approximately RMB 916 million for the 2022 Corresponding Period to approximately RMB 854 million for the Reporting Period, representing a decrease of 6.8%[160]. - Selling and distribution expenses decreased from approximately RMB 1.3 million for the 2022 Corresponding Period to approximately RMB 0.1 million for the Reporting Period[166]. - Administrative expenses decreased by 17.2% from approximately RMB 33 million for the 2022 Corresponding Period to approximately RMB 28 million for the Reporting Period[168]. - Finance costs decreased by 5.9% from RMB 31 million for the 2022 Corresponding Period to RMB 29 million for the Reporting Period[174]. - The Group's income tax expenses decreased by RMB 14 million from approximately RMB 23 million in the 2022 Corresponding Period to approximately RMB 9 million in the Reporting Period[179].

B_table indent_4.5 mm N_table indent_4 mm 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的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部份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。 CHINA TIANBAO GROUP DEVELOPMENT COMPANY LIMITED 中國天保集團發展有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1427） 截至2023年6月30日止六個月的未經審核中期業績公告 財務摘要 截至6月30日止六個月 2023年 2022年 附註 人民幣千元 人民幣千元 （未經審核） （未經審核） 收益 －房地產開發及其他業務 212,044 364,539 －建築承包業務 732,219 629,399 毛利 90,326 77,650 基本溢利╱（虧損） ...

Awards and Recognition - China Tianbao Group Development Company Limited received the 2022 China Property Award of Supreme Excellence, recognizing its outstanding performance in the real estate sector[18]. - The company was also awarded the title of Best Infrastructure and Public Utilities Company by Zhitongcaijing and RoyalFlush Caijing, highlighting its leadership in infrastructure development[18]. - The company received multiple awards, including the 10th Guangsha Award from the China Real Estate Association for its residential projects[20]. - The company was recognized as a "Three-star enterprise" in the construction industry in 2022 by the Baoding Municipal Commission of Housing and Urban-Rural Development[25]. - The company was awarded the title of Advanced Unit in Support of the Construction of the Revolutionary Old Area by the General Office of Hebei Provincial People's Government[27]. Financial Performance - The Group's revenue for the year ended December 31, 2022, was approximately RMB1,924 million, a decrease of 33.7% compared to RMB2,900 million in 2021[69]. - The underlying loss for the Group was approximately RMB159 million, contrasting with an underlying profit of RMB79 million in 2021[69]. - The reported loss for the Group amounted to approximately RMB347 million, compared to a reported profit of RMB42 million in 2021[70]. - The decrease in revenue from the property development business was primarily due to a smaller amount of sales recognized after property sales completion[78]. - The construction contracting business experienced lower revenue due to a reduction in contracts and delays in construction progress caused by the epidemic[78]. - The Group's investment properties recorded a fair value loss of RMB72.4 million in 2022[76]. - Realized losses of financial assets at fair value through profit or loss amounted to RMB108.2 million in 2022[76]. - The Group's revenue for the year ended December 31, 2022, decreased by 33.7% to approximately RMB 1,924 million, compared to RMB 2,900 million in 2021[79]. - The underlying loss for the Group was approximately RMB 159 million in 2022, a significant decline from an underlying profit of approximately RMB 79 million in 2021[81]. - As of December 31, 2022, the Group's net assets were approximately RMB 1,000 million, down from RMB 1,346 million in 2021[82]. - The construction contracting business revenue decreased due to reduced contract volumes and lower sales from property projects, with total revenue from this segment at RMB 1,455 million, accounting for 75.7% of total revenue[85]. - The property development segment generated revenue of RMB 468 million, representing 24.3% of total revenue, with a significant drop from RMB 690 million in 2021[85]. Market Strategy and Expansion - The annual report indicates a significant focus on expanding its property portfolio, with detailed breakdowns of properties included in the management discussion[3]. - The company plans to enhance its market presence through strategic acquisitions and partnerships, aiming for a broader reach in the real estate market[3]. - A strategic plan is in place to enter new geographic markets, particularly in Southeast Asia, to diversify revenue streams[3]. - The company aims to achieve a 20% increase in net profit for the upcoming fiscal year, supported by ongoing projects and market expansion strategies[3]. - The Group plans to strengthen cooperation with high-quality customers and accelerate transformation to gather new development momentum[53]. - The Group's expansion into new regions included Anhui Province, Inner Mongolia, Shandong Province, and Jiangsu Province during the reporting period[185]. Property Development and Projects - The company has several projects under development, including Tianbao Smart Building Technology Park with a planned GFA of 175,434.5 sq. m., expected to be completed by September 2023[62]. - The Tianbao New City Phase III project has a completed GFA of 241,355.8 sq. m. and a saleable GFA of 211,032.7 sq. m., with completion expected in December 2019[64]. - The company has a significant focus on residential and commercial properties, with multiple projects located in Zhangjiakou and Zhuozhou areas[62]. - The company has a total of 134,658.2 sq. m. of GFA under development, indicating ongoing expansion efforts in the market[62]. - The company is actively expanding its commercial and residential property portfolio across multiple locations[65]. - The ongoing developments reflect the company's strategic focus on enhancing its market presence and diversifying its property offerings[65]. Construction and Contracting - The Group entered into new construction contracts valued at approximately RMB 2,959.9 million for the year ended December 31, 2022[134]. - The aggregate backlog of construction projects as of December 31, 2022, was approximately RMB 7,934.2 million[134]. - Revenue from the construction contracting business in the Beijing-Tianjin-Hebei region accounted for 59.2% of total revenue in 2022, down from 76.0% in 2021[138]. - The total land reserves of the Group as of December 31, 2022, amounted to approximately 1,739,812 sq.m., with 77.7% located in Zhangjiakou[130]. - The Group's infrastructure construction projects primarily consist of urban roads, bridges, and facilities for water supply and treatment, primarily serving local government entities[148]. - The Group has obtained the Premium Class Certificate in 2017, allowing it to undertake larger-scale and more complex construction projects nationwide[141]. Customer Satisfaction and Product Offerings - User data indicates an increase in customer satisfaction ratings, with a reported 90% satisfaction rate among clients[3]. - The company is exploring new product offerings in sustainable building materials, aligning with global trends towards eco-friendly construction[3].