禹洲集团5月合约销售额6.21亿元人民币，上年同期7.03亿元人民币。 ...

Market Performance - In 2024, the sales of newly built commodity housing in China amounted to RMB 9,675.0 billion, representing a year-on-year decrease of 17.1%, with residential sales declining by 17.6%[25]. - The top 100 real estate enterprises in China experienced a double-digit decline in sales compared to the previous year, indicating a sluggish market growth[25]. - The first quarter of 2024 saw a sluggish market due to the impact of the Chinese New Year and underwhelming sales performance in March[25]. - The overall real estate market in 2024 continued to fluctuate at low levels, reflecting ongoing challenges in the sector[25]. - The market-wide expectation of price declines curbed the release of pent-up demand and intensified the wait-and-see sentiment among potential buyers[25]. Government Policies and Market Sentiment - The Chinese government's policies aimed at stabilizing the property market led to a short-term rebound in market sentiment, but the subsequent momentum proved insufficient[25]. - The introduction of new policies on May 17 provided some support to the market, but sales weakened once the policy impact faded[25]. - By the end of the third quarter, the government emphasized the need for the real estate market to "stop falling and recovery," leading to a slight year-end rebound in the fourth quarter[25]. - The introduction of robust stimulus measures at the end of the third quarter helped stabilize the market, leading to a year-end rebound[71][73]. Company Performance - In 2024, Yuzhou Group recorded contracted sales of RMB 7,953.11 million, representing a year-on-year decrease of 55.42%[29]. - The gross floor area (GFA) of contracted sales amounted to 545,787 sq.m., reflecting a year-on-year decrease of 49.84%, with an average contracted sales price of approximately RMB 14,572 per sq.m., down 11.12% year-on-year[29]. - The company achieved strong support for its debt restructuring plan, with over 90% of qualified creditors backing the agreement, surpassing the required 75% threshold[37]. - The total revenue of the Group in 2024 was RMB9,716.26 million, a decrease of 54.76% year-on-year, primarily due to a reduction in recognized property sales revenue[109]. - The loss attributable to owners of the parent for the year was RMB11,966.84 million, with a capital deficiency of RMB11,735.69 million[59]. Financial Strategies and Restructuring - Yuzhou Group has been utilizing debt restructuring, asset disposals, and relief funds to alleviate financial strain, relying primarily on sales proceeds for daily operations[36]. - A consensual and holistic offshore debt restructuring proposal was reached in February 2024, receiving strong support from over 90% of eligible creditors[36]. - The company submitted applications to the Grand Court of the Cayman Islands and the Court of First Instance of the High Court of Hong Kong for creditor meetings related to the restructuring schemes[36]. - The company aims to complete the offshore debt restructuring as soon as possible following the approval of the restructuring schemes[36]. Operational Initiatives - Yuzhou Group successfully delivered approximately 13,000 residential units across more than 14 cities, including Shanghai, Chongqing, and Wuhan, completing nearly 30 project batches in 2024[33]. - The company implemented the "Delivery Product Officer Plan" to enhance customer experience during the delivery process, involving core project members in the inspection[33]. - Yuzhou Group is focusing on asset optimization and enhancing operational capabilities to ensure key performance targets and new product offerings[46]. - The company plans to implement a standardized management strategy through the UYO Distinctive Commercial Management System, leveraging big data analytics to improve operational efficiency[39]. Market Trends and Consumer Behavior - Homebuyers became more rational and restrained in purchasing decisions during the market downturn, influenced by various price-off promotions and lowered listing prices[25]. - The average transaction price in the real estate market declined, reflecting a shift towards lower-priced, compact-sized units favored by buyers[54]. - The proportion of new home transactions continued to shrink, while second-hand home transactions stabilized and gradually recovered[54]. Sustainability and Innovation - The introduction of fourth-generation housing products is expected to enhance living experiences and attract significant consumer attention due to their eco-friendly and energy-efficient features[42]. - The Group's commitment to sustainability aligns with national "dual carbon" goals, promoting eco-friendly development practices[95]. - The "Ucube-Temperature Space" product system has been refined, focusing on "people-oriented" design principles and creating high-quality living spaces[98]. - Advanced architectural designs and environmental protection technologies are applied in multiple green building projects, promoting energy conservation and a high-quality living environment[100]. Financial Health and Risks - The Group's cash flow remains under pressure due to ongoing weak sales, necessitating reliance on sales receipts for daily operational funding[37]. - The total interest-bearing borrowings as of December 31, 2024, amounted to RMB 52.62022 billion, a decrease of 3.53% from RMB 54.54436 billion in 2023, with a weighted average interest rate of 8.07%[151]. - The asset-liability ratio, excluding advance receipts, was 115.10% as of December 31, 2024, an increase of 20.33 percentage points compared to the previous year[151]. - The basic loss per share for the year ended December 31, 2024, was RMB 1.87[145]. Human Resources and Corporate Governance - The Group's total staff decreased to 1,012 as of December 31, 2024, down from 1,211 in 2023[171]. - The Group's human resources initiatives focused on improving organizational efficiency and team vitality under the theme "30th Forge Ahead" in 2024[170]. - The Group's cultural assessment was integrated into talent selection and appointment processes to ensure high integrity and strong work ethic among employees[170].

Financial Performance - In 2024, the contract sales amount was RMB 7.95 billion, a year-on-year decrease of 55.42%[5]. - Revenue for 2024 decreased by 54.76% year-on-year to RMB 9.72 billion[5]. - The loss attributable to equity holders of the parent company for 2024 was RMB 11.97 billion, compared to a loss of RMB 10.52 billion in 2023[5]. - The net loss attributable to the parent company for 2024 was RMB 14.77 billion, compared to RMB 14.31 billion in 2023[6]. - The gross profit for 2024 was RMB 175.94 million, significantly down from RMB 367.84 million in 2023[6]. - Revenue from property sales decreased to RMB 9,226,399,000 in 2024 from RMB 20,996,450,000 in 2023, representing a decline of approximately 56%[15]. - Total income for the company in 2024 was RMB 9,716,264,000, down from RMB 21,477,083,000 in 2023, indicating a decrease of about 55%[15]. - The company reported a significant loss of RMB 14.775 billion for the fiscal year ending December 31, 2024[39]. - The company's total revenue for the year was RMB 9.716 billion, a decrease of 54.76% year-on-year[44]. - The net loss attributable to shareholders for the year was RMB 11.968 billion, with a capital deficit of RMB 11.736 billion[44]. - Property sales revenue was approximately RMB 9.22 billion, down 56.06% year-on-year, accounting for 94.96% of total revenue[61]. - The group's gross profit for 2024 was RMB 175.94 million, with a gross margin of 1.81%, reflecting a decline due to reduced property delivery area[63]. Assets and Liabilities - The total assets decreased from RMB 84.93 billion in 2023 to RMB 62.18 billion in 2024[8]. - Current liabilities totaled RMB 85.98 billion in 2024, down from RMB 94.52 billion in 2023[9]. - The company reported a loss of RMB 14,774,863,000 for the year ending December 31, 2024, with total liabilities amounting to RMB 52,620,222,000 and cash and cash equivalents of RMB 1,119,141,000[10]. - The cash and cash equivalents decreased from RMB 3.77 billion in 2023 to RMB 1.12 billion in 2024[8]. - The total outstanding principal of various priority notes as of December 31, 2024, is RMB 38,789,815,000, slightly increasing from RMB 38,719,873,000 in 2023[33]. - The company has unpaid priority note interest of USD 1,285,496,000 (approximately RMB 9,143,333,000) as of December 31, 2024, compared to USD 842,027,000 (approximately RMB 5,960,657,000) in 2023[34]. - The total unpaid principal of priority notes increased to USD 3,095,085,000 (approximately RMB 22,014,377,000) in 2024 from USD 2,098,085,000 (approximately RMB 14,852,211,000) in 2023[34]. - The company has a significant portion of its bonds and priority notes classified as current liabilities due to defaults on interest payments, allowing noteholders to demand immediate repayment[34]. - The company’s total borrowings, including bank loans and bonds, decreased by 3.53% to RMB 52.62022 billion as of December 31, 2024, from RMB 54.54436 billion in 2023[78]. Debt Restructuring - The company is undergoing a debt restructuring plan, with approximately 93% of existing noteholders supporting the restructuring agreement as of February 8, 2024[11]. - The restructuring plan was approved by the necessary majority of plan creditors on September 16, 2024, and received court approval in Hong Kong and the Cayman Islands, effective from October 4, 2024[11]. - The company aims to significantly deleverage its offshore debt through the proposed restructuring, which is expected to enhance its sustainable capital structure and reduce operational risks[13]. - The final deadline for the restructuring to take effect has been extended from February 28, 2025, to August 31, 2025, to allow more time to fulfill remaining restructuring conditions[12]. - The company's financial obligations and restructuring efforts are critical for future liquidity and operational stability[34]. Operational Performance - The company is implementing asset disposal plans to generate additional cash flow, alongside cost control measures to maintain liquidity for ongoing real estate development projects[13]. - The company has adopted revised Hong Kong Financial Reporting Standards for the first time, which will not result in significant changes to its accounting policies or financial presentation[14]. - The company is focused on maintaining sufficient financial resources to meet its obligations over the next twelve months, based on cash flow forecasts reviewed by the board[11]. - The company reported a pre-tax loss of RMB 14,660,298,000 for 2024, compared to a pre-tax loss of RMB 14,231,333,000 in 2023, indicating a slight increase in losses[24]. - The total capital expenditure for 2024 was RMB 1,830,000, compared to RMB 4,347,000 in 2023, reflecting a significant reduction in investment[20]. - The company incurred a net fair value loss on investment properties of RMB 1,048,026,000 in 2024, compared to RMB 3,033,881,000 in 2023[20][24]. - The company did not recommend any final dividends for the years ended December 31, 2024, and 2023, maintaining a conservative cash position[27]. - The company has no sales exceeding 10% of total revenue from any single external customer for both 2023 and 2024, indicating a diversified customer base[21]. Market Conditions - The land market remained weak, with both volume and price declining due to sluggish sales and financial pressures on property companies[43]. - The real estate market is expected to stabilize with potential supportive policies, including further reductions in mortgage rates and easing of purchase restrictions in first-tier cities[112]. - The first quarter of 2024 saw a weak market performance due to economic factors and the Spring Festival holiday, but the second quarter experienced a brief recovery driven by favorable macro policies[49]. Strategic Initiatives - The company upgraded its marketing strategy to "Yuzhou Star Power," enhancing digital marketing efforts through platforms like WeChat and Douyin to adapt to changing consumer habits[49]. - The company plans to conduct over 2,000 outdoor events in 2024, attracting more than 30 million visitors, while also enhancing safety measures for over 18 million customers[52]. - The company is focused on upgrading its "Yuli Square • Temperature Space" product system, emphasizing human-centered design and sustainable living environments[57]. - The group has expanded its product lines to meet changing market demands, with a focus on quality residential offerings[56]. - The group is enhancing its IT infrastructure and has upgraded its server hardware and network control equipment, significantly improving data processing and business handling capabilities[83]. Human Resources - As of December 31, 2024, the group had a total of 1,012 employees, a decrease from 1,211 employees in 2023[86]. - The group continues to focus on building a responsible, pragmatic, and efficient talent team to support long-term development[85]. Governance and Compliance - The board of directors includes three independent non-executive directors to ensure a balance of power and accountability[101]. - The group has adopted a rigorous code of conduct for directors' securities transactions, in compliance with listing rules[99]. - The group maintains sufficient public float as per the listing rules[94]. - There have been no significant changes in the business since the publication of the interim report for the six months ending June 30, 2024[95].

每股收益每股净资产每股经营性现金流每股资本公积金每股未分配利润净资产收益率毛利率净利润现金 含量营业收入同比净利润同比扣非净利润同比经营性现金流同比资产负债率流动比率速动比率现金比率 按产品按行业按地区 ...

Economic Overview - For the first half of 2024, China's GDP reached RMB 61,683.6 billion, reflecting a 5.0% increase year-on-year[7]. - Total investment in real estate development in China amounted to RMB 5,252.9 billion, showing a year-on-year decline of 10.1%[7]. - Residential investment was RMB 3,988.3 billion, which represents a year-on-year decrease of 10.4%[7]. - The total area of commodity housing sold was 479.16 million sq.m., indicating a year-on-year decline of 19.0%[7]. - Sales of commodity housing totaled RMB 4,713.3 billion, down 25.0% year-on-year, with residential sales decreasing by 26.9%[7]. Real Estate Market Trends - The real estate market in China continued to show a downward trend, with double-digit declines in both sales amount and GFA compared to the same period last year[10]. - Despite the implementation of favorable policies such as reduced down payments and lowered mortgage rates, the market remained sluggish after a brief revival following the new policy introduced on May 17[10]. - In the first half of 2024, the real estate market continued to experience sluggish performance, with a further decline in commodity housing transaction volume compared to the same period last year[23]. - The overall transaction volume of commodity housing shrank due to the Chinese New Year holiday and insufficient appeal of the "short-lived resurgence" in March[24]. Company Performance - As of June 30, 2024, Yuzhou Group recorded total contracted sales of RMB 4,346 million, representing a decrease of 62.8% compared to the same period last year[10]. - The gross floor area (GFA) of contracted sales amounted to 279,311 sq.m., reflecting a decrease of 59.8% year-on-year, with an average sales price of RMB 15,561 per sq.m., down 7.5% from the previous year[10]. - The Group's revenue for the first half of 2024 amounted to RMB 6,377.54 million, with a loss of RMB 8,012.80 million and a capital deficiency of RMB 3,480.02 million[30]. - Revenue from property sales decreased by 49.53% year-on-year to RMB 6,128.39 million, accounting for 96.09% of total revenue, with an average selling price of RMB 13,846 per sq.m.[31]. Financial Challenges - Yuzhou Group faced ongoing financial challenges, relying solely on sales proceeds to sustain daily operations, with no new financing secured in the first half of the year[15]. - A consensual restructuring proposal for offshore debt was reached in February 2024, receiving support from over 90% of eligible creditors[15]. - The financial policies for the real estate sector remained relaxed, but efforts to ease financial burdens on enterprises have been inadequate, particularly for private sector companies[15]. - The Group's finance costs increased to approximately RMB 1.90 billion, primarily due to rising interest rates on offshore loans[69]. Debt Restructuring - The Group is implementing a restructuring plan aimed at significantly deleveraging its overseas debt to achieve a sustainable capital structure and reduce operational risks[170]. - Creditors representing over 84% of the existing notes have acceded to the restructuring support agreement since 8 February 2024[163]. - The Proposed Restructuring aims to significantly deleverage the Group's offshore indebtedness to achieve a sustainable capital structure[167]. Operational Strategies - The company is committed to navigating the challenging real estate market and exploring new strategies for growth[6]. - Yuzhou Group has implemented the "Yuzhou Well-pleasing" 1628 Delivery Guarantee System, focusing on enhancing product quality, delivery, and service[12]. - The company is actively exploring innovative marketing strategies to promote sales and inventory clearance[22]. - The Group plans to continue its strategy of "Leading with Locality Development" to enhance revenue diversity and regional synergies[32]. Market Segmentation - The Yangtze River Delta Region contributed 58.08% of recognized revenue, followed by Central China Region at 25.14% and Southwest Region at 11.84%[32]. - The average selling price of properties in the Yangtze River Delta Region was RMB 16,511 per sq.m., the highest among all regions[36]. - The transaction volume of second-hand housing showed an upward trend, indicating a decline in consumer expectations for first-hand house deliveries[27]. Human Resources and Corporate Culture - The Group's human resources department focused on corporate culture initiatives, with a total staff count of 1,117 as of June 30, 2024[89][90]. - The company emphasizes employee well-being and career development through various initiatives, including welfare gifts during traditional festivals and support for frontline colleagues[92]. - The company is committed to maintaining its core values of responsibility, pragmatism, collaboration, and win-win outcomes in its operations[92]. Share Options and Corporate Governance - The Company did not grant any share options for the six-month period ended June 30, 2024[98]. - The Directors believe that the current use of all investment properties measured at fair value represents their highest and best use[200]. - The Board consists of three independent non-executive directors, ensuring adequate balances of power and safeguards[134]. Financial Position and Assets - As of June 30, 2024, the Group had cash and cash equivalents totaling approximately RMB 3.56 billion[77]. - The Group's total interest-bearing bank and other borrowings, corporate bonds, and senior notes amounted to RMB 53,665.32 million, a decrease of 1.61% from RMB 54,544.36 million as of December 31, 2023[79][81]. - The Group's net gearing ratio was –1,439.76% as of June 30, 2024, indicating a significant negative leverage position[84][86]. Investment Properties - The total investment properties at the end of the reporting period were RMB 11,992,400, down from RMB 12,339,900 at the beginning of the year[12]. - Completed investment properties are leased to third parties, contributing to rental income[200]. - The Group's investment properties were revalued by Jones Lang LaSalle on June 30, 2024, and December 31, 2023[200].

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依賴該等內容而引致的任何損失承擔任何責 任。 （於 開 曼 群 島 註 冊 成 立 的 有 限 公 司） （股 權 股 份 代 號：01628） （債 務 股 份 代 號：40043，40159，40079，40112，40343，40517及05287） 截 至2024年6月30日止六個月期間中期業績 禹洲集團控股有限公司（「本 公 司」）董事會（「董 事 會」）謹此公佈本公司及其附屬 公 司（「本 集 團」或「禹 洲 集 團」或「集 團」）截 至2024年6月30日止六個月期間（「期 內」）的 未 經 審 核 綜 合 業 績。該 等 中 期 業 績 乃 根 據 香 港 會 計 準 則 第34號「中 期 財 務 報 告」編 製。該 等 中 期 業 績 亦 已 由 本 公 司 審 核 委 員 會 審 閱。 | --- | --- | |-------|--------------------- ...

Economic Overview - The macroeconomic situation in China showed an L-shaped trajectory, with initial positive developments followed by a weak recovery and stabilization towards the end of the year[19]. - The central and local governments implemented measures to enhance market confidence, including favorable mortgage terms and reduced down payment ratios[19]. - The real estate sales market experienced a downward trend throughout the year, despite stabilization efforts in the fourth quarter[19]. - The "short-lived resurgence" in the first quarter led to optimism, but economic growth fell below expectations in the second and third quarters[19]. - Residents' cautious consumption concepts suppressed their willingness to purchase houses, contributing to the sluggish real estate consumption market[19]. - The land transaction volume continued to shrink in 2023, influenced by weak macroeconomic recovery and sluggish sales of new properties[51]. Real Estate Market Performance - The sales of commodity housing in 2023 amounted to RMB 11,662.2 billion, representing a year-on-year decrease of 6.5%, with residential sales declining by 6.0%[19]. - Yuzhou Group recorded total contracted sales of RMB 17,840 million, representing a decrease of approximately 50% year-on-year[21]. - The average monthly sales in the first half of 2023 reached approximately RMB 1,946 million, while the average monthly sales in the second half fell to approximately RMB 1,027 million[21]. - Yuzhou Group's sales performance aligned with the real estate industry's trend, experiencing a "short-lived resurgence" in the first quarter followed by a decline, with annual sales data stabilizing at a low level in the fourth quarter[46]. - The total sales of commercial properties in China reached RMB 11,662.2 billion in 2023, reflecting a year-on-year decrease of 6.5%, while residential property sales fell by 6.0% year-on-year[46]. Financial Performance - The Group's revenue for the year was RMB 21,477.08 million, a decrease of 19.67% year-on-year, with a loss attributable to owners of the parent amounting to RMB 10,520.57 million[56]. - Revenue from property sales was RMB 20,996.45 million, accounting for 97.76% of total revenue, with an average selling price of RMB 11,501 per sq.m. for properties delivered[57]. - The total equity of the Group decreased by 79.82% to RMB 5,059.98 million, and the Board does not recommend a final dividend for the year ended December 31, 2023[58]. - The Group recorded a fair value loss on investment properties of approximately RMB 3,033.88 million in 2023, significantly higher than RMB 315.41 million in 2022, due to a deteriorated market environment[120]. - The loss for the year was RMB 14,309.41 million, compared to a loss of RMB 13,269.19 million in 2022, primarily due to a decrease in gross profit and an increase in impairment losses[141]. Operational Highlights - Yuzhou Group achieved revenue of RMB 21,477 million in 2023, driven by its core operational goal of ensuring project completion and housing delivery[22]. - The company completed approximately 60 batches of projects, delivering nearly 30,000 residential units with a 100% completion rate in all delivery batches[27]. - The 30-day delivery rate for projects was nearly 80%, with several projects achieving record high delivery satisfaction[27]. - The Group delivered a total GFA of approximately 1,825,658 sq.m. during the year[57]. - The average selling price of contracted sales was RMB 16,396 per sq.m., with a total gross floor area of 1,088,053 sq.m. sold[21]. Strategic Initiatives - Yuzhou Group is actively utilizing various channels and resources to alleviate financing pressure through debt restructuring and asset management[28]. - The company launched the "Yuzhou New Momentums Initiative" to adapt to changing market conditions and consumer habits, focusing on digital marketing through platforms like WeChat and TikTok[75]. - Yuzhou Group introduced several high-energy brands and upgraded its original brands in Hefei Yuyue Hui at the beginning of 2023, aiming to stimulate regional consumption[34]. - The company organized various events, including the "Yuyue Light Show" and "King of Fighters Tournament," to attract traffic and enhance the shopping experience[34]. - The Group is actively expanding in six metropolitan areas through various strategies including bidding, mergers, and urban redevelopment[101]. Financial Management - The Group's cash flow has become increasingly strained due to tight financing channels and high operational expenses, leading to efforts in debt restructuring and asset disposal[50]. - The average land cost reflects the Group's strategic focus on locality development and in-depth cultivation in targeted regions[102]. - The Group's expected credit loss provision for financial guarantees was RMB 1,833.51 million as of December 31, 2023, an increase from RMB 1,744.05 million on December 31, 2022[157]. - The cash balance of the Group as of December 31, 2023, was RMB 5,142.61 million, including restricted cash and non-pledged time deposits[162]. - The Group's total borrowings amounted to RMB 54,544.36 million, with an average borrowing cost of 8.16% per annum, an increase of 0.74 percentage points from 7.42%[152]. Corporate Governance and Social Responsibility - The Group has achieved green building standards for 145 property projects, covering over 21 million sq.m., with approximately 5.55 million sq.m. reaching two-star or above standards[92]. - The company has been actively involved in social responsibility initiatives, reflecting its business philosophy of companionship and love[89]. - The Group's core values focus on "responsibility, practicability, synergy, and win-win results" to enhance talent development and organizational efficiency[177][181]. - The Group emphasized corporate culture initiatives under the theme "Cooperation, Cohesion, and Creativity" to enhance team spirit and employee engagement[167][169]. - The management confirms that the Company has maintained the public float as required under the Listing Rules[198].

Financial Performance - Total revenue for 2023 was RMB 21,477,083,000, a decrease from RMB 26,737,240,000 in 2022, representing a decline of approximately 19.5%[2] - The net loss for the year 2023 was RMB 14,309,410,000, compared to a net loss of RMB 13,269,190,000 in 2022, indicating an increase in losses of about 7.8%[3] - The gross profit for 2023 was RMB 367,836,000, down from RMB 724,997,000 in 2022, reflecting a significant decrease of approximately 49.3%[2] - The company reported a pre-tax loss of RMB 14,231,333,000 for 2023, compared to a pre-tax loss of RMB 13,157,507,000 in 2022, which is an increase of about 8.1%[2] - The annual loss attributable to the parent company was RMB 10.52057 billion, with total equity declining by 79.82% to RMB 5.05998 billion[26] - The group reported a net loss of RMB 14.30941 billion for the year, with current liabilities net amounting to RMB 9.59775 billion and unpaid priority note interest of USD 842.027 million (approximately RMB 5.96066 billion)[35] - The group's annual loss for 2023 was RMB 14.39 billion, compared to a loss of RMB 13.26 billion in 2022, attributed to reduced gross profit, decreased capitalized interest, and increased impairment provisions[91] Asset and Liability Management - Total non-current assets decreased to RMB 23,825,618,000 in 2023 from RMB 30,125,045,000 in 2022, a decline of approximately 20.9%[4] - The company has classified all outstanding preferred notes as current liabilities due to defaults on interest payments and principal amounts[21] - As of December 31, 2023, the group had a net current liability of RMB 9,597,754,000 and outstanding preferred note interest of USD 842,027,000 (equivalent to RMB 5,960,657,000)[53] - The group’s total outstanding preferred notes amounted to RMB 38,719,873,000, with cash and cash equivalents of RMB 3,773,803,000 available[53] - As of December 31, 2023, total interest-bearing debt decreased by 1.05% to RMB 54.54 billion, while total equity decreased by 79.82% to RMB 5.06 billion[109] - The company has a total of RMB 3,212,500,000 classified as current liabilities, down from RMB 4,850,000,000 in 2022, indicating a reduction in short-term debt[143] Debt Restructuring and Financial Strategy - The company has engaged in constructive dialogue with a creditor group regarding a proposed restructuring plan for its offshore debts, with approximately 90% of existing noteholders participating in the restructuring support agreement[7] - The company is actively restructuring its offshore debt to achieve a sustainable capital structure and reduce operational risks[37] - The company plans to implement a debt restructuring plan to ensure sufficient financial resources to meet its financial obligations[161] - The group aims to optimize its debt structure and balance financial risks while reducing capital costs[74] Revenue and Sales Performance - The group's property sales revenue reached RMB 20,996,450,000, accounting for 97.76% of total revenue, with an average selling price of RMB 11,501 per square meter[56] - Property sales revenue for 2023 was RMB 20.99 billion, down from RMB 26.29 billion in 2022, representing a decline of 20.00%[119] - The total contracted sales amount in the Yangtze River Delta region reached RMB 8.608139 billion, representing 48.25% of the group's total contracted sales[184] - The group’s property sales in the Bohai Rim and Haixi Economic Zone totaled RMB 4.25404 billion, accounting for 23.85% of total contracted sales[184] Operational Adjustments and Market Strategy - The group has initiated various marketing activities and brand upgrades to enhance consumer shopping experiences, including new brand introductions and themed events[31] - The group is adapting to market changes with a focus on a "small but beautiful" business model, actively responding to new policies and market dynamics[29] - The company is focusing on digital marketing strategies through platforms like WeChat and Douyin to enhance customer acquisition and sales performance[154] - The company has identified a significant decline in land transaction volume and value in 2023 due to weak macroeconomic recovery and low consumer sentiment in real estate[150] Cost Management and Efficiency - Yuzhou Group's administrative expenses decreased by 23.84% year-on-year to approximately RMB 861.31 million in 2023, down from RMB 1.13 billion in 2022, primarily due to reduced employee costs[88] - Other expenses decreased from approximately RMB 871,620,000 in 2022 to approximately RMB 571,090,000 in 2023, primarily due to a reduction in goodwill impairment losses[70] - Employee benefits expenses, including salaries and wages, decreased to RMB 156,842,000 in 2023 from RMB 416,236,000 in 2022, reflecting a reduction in workforce costs[138] Investment and Development - The company’s capital expenditures for 2023 amounted to RMB 4,347,000, compared to RMB 536,000 in 2022, reflecting a significant increase in investment[12] - The total land reserve available for sale is approximately 11.91 million square meters across 163 projects, with an average floor cost of RMB 6,221 per square meter[158] - The company anticipates that its current land reserves will be sufficient to meet development needs for the next two to three years[158] Sustainability and Corporate Responsibility - The group emphasizes sustainable development and has committed to building eco-friendly projects in response to national carbon neutrality goals[80] - The group organized various public welfare activities in 2023, reaching nearly 12 million participants, under the theme "Yuzhou Love, Together for a Better Public Welfare"[79] - The company has received the "2023 Good Company 50 - Innovation Development Award" from Shanghai Newspaper Group for its innovative online shopping initiatives[79]

智通财经APP讯，禹洲集团(01628)发布公告，于提早重组支持协议费用期限2024年3月21日下午五时正(香港时间)后，所持份额：(a)约占现有公开票据未偿还本金总额90.61%的现有票据持有人已加入重组支持协议;及(b)约占其他现有债务工具未偿还本金总额90.45%的现有票据持有人已加入重组支持协议。 对迄今就重组方案获得的全力支持，公司倍受鼓舞并向其海外债权人及各利益相关人士致以最深切的谢意。其余现有票据持有人请进一步注意，一般重组支持协议费用期限为2024年3月28日下午五时正(香港时间)。 ...

Financial Performance - For the six-month period ended June 30, 2023, the company reported a loss of RMB 9,033,465,000 compared to a profit of RMB 352,589,000 in the same period of 2022[20]. - The total comprehensive loss for the period was RMB 10,864,767,000, significantly higher than the RMB 80,657,000 reported in the previous year[22]. - Other comprehensive loss for the period, net of tax, amounted to RMB 1,831,302,000, compared to RMB 433,246,000 in the prior year[22]. - The loss attributable to owners of the parent was RMB 8,194,254,000, while non-controlling interests accounted for RMB 2,670,513,000 of the total comprehensive loss[22]. - The company reported a loss before tax of RMB (9,184,167) for the six-month period ended June 30, 2023, compared to a profit of RMB 729,726 in the same period of 2022[28]. - The loss used in the basic and diluted earnings per share calculations for the six-month period ended June 30, 2023, was RMB 6,493,148,000 compared to RMB 7,381,000 in 2022[103]. - The company recorded a total tax credit of RMB 150,702,000 for the period, compared to a tax charge of RMB 377,137,000 in the previous period[78]. - The total segment results showed a significant loss of RMB 7,573,017,000 for the company[71]. Revenue and Income - Total revenue for the six-month period ended June 30, 2023, was RMB 12,889,457,000, which includes property development revenue of RMB 12,047,440,000[51]. - Property management fee income for the same period was RMB 205,030,000, while hotel operation income was RMB 4,666,000[51]. - The total revenue from contracts with customers for the six-month period was RMB 12,358,664,000, with property sales contributing RMB 12,142,886,000[45]. - The company reported a total of RMB 496,372,000 in other income and gains for the six-month period ended June 30, 2023[51]. - The property development segment remains the largest contributor to revenue, accounting for approximately 93.5% of total revenue[51]. Assets and Liabilities - Total non-current assets decreased to RMB 26,976,334, down from RMB 30,125,045 as of December 31, 2022, representing a decline of approximately 10.0%[23]. - Total current assets decreased to RMB 97,942,033, compared to RMB 113,328,727 as of December 31, 2022, reflecting a decrease of about 13.5%[23]. - Total equity decreased to RMB 13,932,403 from RMB 25,075,357, marking a decline of approximately 44.5%[24]. - The total liabilities increased, with contract liabilities at RMB 19,498,228 and interest-bearing borrowings at RMB 7,425,740 as of June 30, 2023[23]. - The Group's total assets decreased from RMB 43,041,371,000 as of December 31, 2022, to RMB 41,147,636,000 as of June 30, 2023[107]. - The Group's total liabilities decreased from RMB 7,982,141,000 to RMB 7,538,788,000 over the same period[113]. Cash Flow and Financing Activities - For the six-month period ended 30 June 2023, net cash flows used in financing activities amounted to RMB (2,838,399,000), a decrease from RMB (11,759,729,000) in the same period of 2022[31]. - Overall, the financing activities reflect a significant reduction in cash outflows compared to the previous year, indicating improved cash management strategies[31]. - The repayment of bank and other borrowings totaled RMB (968,807,000), compared to RMB (5,912,352,000) in the previous year[31]. - The company incurred interest paid of RMB (424,637,000), down from RMB (2,221,431,000) in the prior period[31]. - The company issued RMB1,500,000,000 corporate bonds due in 2025 with a 6.5% interest rate, and as of June 30, 2023, the remaining balance is RMB1,125,000,000 after repaying RMB300,000,000[118]. Share Options and Employee Benefits - As of June 30, 2023, the company had 300,000 share options outstanding for Executive Director Kwok Ying Lan, with an exercise price of HK$1.9300[36]. - The company awarded 800,000 share options during the period ended June 30, 2023, with an exercise price of HK$5.8800[36]. - The total number of share options exercised during the period ended June 30, 2023, was 0[38]. - The company did not grant any share options for the six-month period ended June 30, 2023[66]. - The Company’s share option scheme had 139,562,300 options outstanding as of January 1, 2023, with a weighted average exercise price of HK$3.509[162]. Impairments and Credit Losses - The impairment of other receivables amounted to RMB 1,024,538, with additional impairments on investments and goodwill totaling RMB 70,392[28]. - The Group recognized expected credit losses (ECLs) of RMB894,254,000 during the six-month period ended June 30, 2023, compared to nil for the same period in 2022[109]. - The impairment analysis for a third party defendant in a lawsuit indicated a fully impaired loss allowance of RMB407,930,000 as of June 30, 2023[109]. - The Group recorded expected credit losses of RMB23,201,000 and RMB107,083,000 for joint ventures and associates due to the downturn in the real estate sector in mainland China[110]. Corporate Governance and Compliance - The company did not have any other disclosure obligations under Rule 13.18 of the Listing Rules as of June 30, 2023[17]. - The company has not applied new HKFRSs that have been issued but not yet effective, indicating no material impact on financial statements[43]. - The company is focusing on restructuring and cost management strategies to address the financial challenges faced during the period[28]. - The company is actively pursuing opportunities for mergers and acquisitions to strengthen its market position[18]. - The company is focused on expanding its market presence and exploring new strategies for growth[18].