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].

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：05830，05798，40043，40159，40079，40112，40343，40517及05287） 截至2023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2023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。 財務摘要 1. 截至2023年6月30日止六個月期間，合約銷售金額人民幣116億7,482萬元，同 比下降44.27%。 2. 收入由截至2022年6月30日止六個月期間的人民幣123億9,309萬元增加0.75% ...

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：05830，05798，40043，40159，40079，40112，40343，40517及05287） 截至2023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2023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。 財務摘要 1. 截至2023年6月30日止六個月期間，合約銷售金額人民幣116億7,482萬元，同 比下降44.27%。 2. 收入由截至2022年6月30日止六個月期間的人民幣123億9,309萬元增加0.75% ...

Economic Overview - In 2022, China's GDP was RMB121,020.7 billion, with a year-on-year growth rate of only 3.0%[17]. - The overall GDP growth in China for 2022 was 3.0%, reflecting a challenging economic environment influenced by various external factors[20]. Real Estate Market Performance - Commodity housing sales in China totaled RMB13,330.8 billion in 2022, reflecting a year-on-year decline of 26.7%[17]. - Residential sales specifically fell to RMB11,674.7 billion, marking a year-on-year decrease of 28.3%[17]. - The real estate market faced weak performance on both supply and demand sides, with sales, financing, and investment at their lowest levels in recent years[17]. - The total funds received by real estate development enterprises in 2022 were RMB 1,489.79 billion, a decline of 25.9% year-on-year[20]. - National investment in real estate development was RMB13,289.5 billion, a decrease of 10.0% year-on-year[60]. - The sales of national commercial properties fell by 26.7% year-on-year to RMB13,330.8 billion in 2022[52]. Yuzhou Group's Financial Performance - In 2022, Yuzhou Group's accumulated contracted sales reached RMB 35,608.28 million, with a total GFA of contracted sales amounting to 2,016,320 sq.m. and an average contracted selling price of approximately RMB 17,660 per sq.m.[26]. - The Group's revenue was RMB26,737.24 million, a decrease of 1.23% year-on-year[61]. - The loss attributable to owners of the parent for the year was RMB12,014.86 million[61]. - Revenue from property sales was RMB26,288.91 million, accounting for 98.32% of total revenue[62]. - The gross profit was approximately RMB 725.00 million, with a gross profit margin of 2.71%, reflecting a decrease due to loss-making projects recognized in 2022[115]. - The Group recorded a loss for the year of RMB13,269.19 million in 2022, a significant decline from a profit of RMB1,282.99 million in 2021[136]. Liquidity and Financing - The liquidity of real estate developers decreased, with available funds dropping to RMB14,897.9 billion, a year-on-year retreat of 25.9%[17]. - Domestic loans for real estate developers were RMB1,738.8 billion, down 25.4% year-on-year[17]. - Personal mortgage loans stood at RMB2,381.5 billion, reflecting a year-on-year decrease of 26.5%[17]. - The Group's total borrowings, corporate bonds, and senior notes amounted to RMB55,120.49 million as of December 31, 2022, representing a year-on-year decrease of 2.58%[146]. - The average borrowing cost was 7.23% per annum, a decrease of 0.11 percentage points from 7.34% as of June 30, 2022[146]. Strategic Initiatives and Market Adaptation - Yuzhou Group actively coordinated with government departments and investors to manage challenges in the market[18]. - The company's marketing strategy involved a dynamic research mechanism to adapt to local policies and market conditions, enhancing sales performance[26]. - The company emphasized the importance of intrinsic corporate values and a pragmatic work style to navigate industry challenges[46]. - Yuzhou Group plans to strengthen its presence in tier-1 and tier-2 cities, pursuing a "moderate and excellent" development strategy[46]. - The group plans to continue its "regional deep cultivation" strategy to optimize development in key areas for sustained revenue contributions[66]. Project Management and Delivery - Yuzhou Group completed nearly 70 projects, delivering over 31,000 units in 2022, achieving 100% of its project delivery targets[33]. - The company's proactive measures in project management included a refined "well-pleasing delivery" plan to ensure housing quality and timely delivery amidst challenging market conditions[30]. - The average selling price of properties delivered was RMB13,962 per sq.m.[62]. Marketing and Consumer Engagement - The company's on-site marketing initiatives included the "Yuzhou Ace Live Streamer Creation Camp," which resulted in nearly 60 short videos and over 150 livestreaming activities, attracting over 1.3 million hits[26]. - Yuzhou Group's marketing campaigns were strategically themed each quarter to boost consumer sentiment, including events like "Settling Down at Hometown Festival" and "Housing Rush Festival"[24]. - The marketing strategy includes frequent national house-purchasing festivals to enhance brand influence and boost market confidence[78]. Corporate Governance and Human Resources - The Group's human resources strategy aims to optimize talent allocation and support the personal development of employees through various training programs[166]. - The Group emphasized staff engagement through various activities aimed at enhancing corporate cohesion and morale, reflecting a commitment to employee well-being[171][174]. - The Group's focus on integrity and professional development was highlighted through probity training and various team-building activities[171][174]. Environmental and Sustainable Development - The Group emphasizes low-carbon environmental protection and sustainable development in its project designs[100]. - Yuzhou Group has achieved green building standards for 145 property projects, totaling over 21 million sq.m., with approximately 5.55 million sq.m. meeting two-star or above standards[100]. Acquisitions and Disposals - Yuzhou Group disposed of 85.64% of the entire issued share capital of Keen Choice Limited to relieve liquidity pressure[18]. - The Group's strategic initiatives included significant acquisitions and disposals to streamline operations and enhance market position[176][178].

Financial Performance - For the six-month period ended June 30, 2022, Yuzhou Group reported a total revenue of RMB6,607.2 billion, reflecting a period-on-period decline of 28.9%[18]. - In the first half of 2022, Yuzhou Group achieved a revenue of RMB 12,393.09 million and a profit of RMB 352.59 million[46]. - The total equity of Yuzhou Group amounted to RMB 40,641.69 million, with no interim dividend recommended for the period ended June 30, 2022[48]. - The Group's profit for the period in the first half of 2022 was RMB352.59 million, down from RMB1,201.81 million in the first half of 2021, primarily due to a decrease in gross profit and an increase in finance costs[105]. - The gross profit margin for the first half of 2022 was 10.83%, with a gross profit of RMB1,342.49 million[92]. - Other income and gains rose by approximately 144.93% from RMB205.93 million in the first half of 2021 to RMB504.40 million in the first half of 2022, mainly due to gains from the disposal of subsidiaries[94]. Sales and Market Trends - Residential sales amounted to RMB5,768.3 billion, which represents a period-on-period decrease of 31.8%[18]. - The real estate market saw a 28.9% decline in national sales of commodity housing on a period-on-period basis due to the impact of COVID-19[42]. - The differentiation trend in the real estate market is evident, with tier-1 and tier-2 cities outperforming tier-3 and tier-4 cities[45]. - The consumption of large housing products for improvement needs has significantly increased, impacting the current market dominated by rigid demand products[45]. - The total contracted sales of the Bohai Rim Region and West Strait Economic Zone amounted to RMB5,646.13 million, accounting for 26.95% of total contracted sales[61]. Investment and Development - The total investment in real estate development in China reached RMB6,831.4 billion, down 5.4% compared to the same period last year[16]. - The Group has 145 property projects (total area over 21 million sq.m.) that have achieved green building standards, with approximately 5.55 million sq.m. reaching two-star or above standards[31]. - The company has 29 operational projects and 12 in preparation, focusing on economically developed areas such as the West Strait Economic Zone and the Greater Bay Area[73][74]. - The company is actively expanding its land reserves and project portfolio across multiple regions to enhance market presence and growth potential[90]. Financial Position and Liabilities - Total bank and other borrowings, corporate bonds, and senior notes amounted to RMB54,579.85 million as of June 30, 2022, representing a decrease of 3.54% from RMB56,582.44 million as of December 31, 2021[108]. - The net gearing ratio as of June 30, 2022, was 110.95%, calculated based on interest-bearing borrowings less cash and cash equivalents[108]. - The asset-liability ratio, after excluding advance receipts, was 68.98% as of June 30, 2022, down by 0.21 percentage points compared to December 31, 2021[108]. - The Group's cash balance as of June 30, 2022, was RMB9,487.09 million, indicating a significant liquidity position[122]. Marketing and Customer Engagement - The Group's proactive marketing strategies included an "online+offline" integrated marketing model, enhancing customer engagement through live streaming and short video platforms[19]. - The Group's marketing strategies included various promotional events and innovative online marketing methods to boost consumer sentiment and enhance brand awareness[64]. - The company aims to enhance customer experience through a focus on optimizing membership services and upgrading consumption experiences based on big data insights[82]. Corporate Governance and Share Options - The Company granted a total of 16,445,000 new shares under the 2010 Scheme on January 20, 2015[156]. - The total number of shares issued and to be issued upon exercise of the options granted under the 2010 Scheme shall not exceed 345,599,999 shares, representing 10% of the issued share capital of the Company[177]. - The purpose of the 2020 Scheme is to provide participants with the opportunity to acquire proprietary interests in the Company and to enhance shareholder value[188]. - The total number of options granted and to be granted under the 2020 Scheme is capped at 1% of the total number of shares in issue for any 12-month period[191]. Economic Environment - The GDP of China for the first half of 2022 was RMB56,264.2 billion, reflecting an uptick of 2.5% from the same period last year[16]. - The national GDP experienced a year-on-year growth of 2.5% in the first half of 2022 despite the impact of COVID-19[21]. - In the first half of 2022, household deposits increased by RMB 10.33 trillion, indicating a shift towards saving over consumption[42]. Future Outlook - In the second half of 2022, the real estate sector is expected to see a revival due to pent-up demand and effective epidemic control measures[32]. - The Group aims to maintain stable operations by generating cash inflow through strict expenditure management, reduced land acquisition, and sales promotion[26]. - Yuzhou Group plans to focus on mid- to long-term strategies in product, service, investment, sustainable development, and corporate culture[36].

Economic Environment - The year 2021 saw a decline in national purchasing power due to persistent impacts on industries such as international trade, catering, tourism, and offline sales [21]. - The real estate market experienced a significant downturn in the second half of 2021, transitioning from a "booming spring" to a "depressing winter" due to stringent financial control policies [25]. - The tightening of financing channels has led to increased liquidity pressure, with banks imposing stricter supervision over the company's cash [40]. - The national real estate policy emphasizes "houses are for living in instead of speculation," which is expected to stabilize the market and support reasonable financing for real estate enterprises [66]. Company Performance - Yuzhou Group achieved property sales revenue of RMB 26,236.14 million in 2021, serving over 30,000 families, with certain projects delivered 1-6 months ahead of schedule [26]. - The company recorded contracted sales of approximately RMB 105,021.01 million in 2021, with a total contracted area of 5,293,990 sq.m. and an average selling price of RMB 19,838 per sq.m. [37]. - Yuzhou Group maintained a sales target completion rate of 95.47% despite a challenging market environment [37]. - In 2021, Yuzhou Group's revenue increased by 160.01% year-on-year to RMB 27,071.24 million, while profit for the year surged by 462.15% to RMB 1,282.99 million [67]. - The total equity of Yuzhou Group rose by 20.67% to RMB 41,394.64 million [67]. - Revenue from property sales accounted for 96.92% of total revenue, amounting to RMB 26,236.14 million, with an average selling price of RMB 14,491 per sq.m. [68]. - The total gross floor area delivered was approximately 1,810,502 sq.m. [68]. - The Yangtze River Delta Region contributed 75.12% of the recognized revenue from property sales, indicating its significant role in the company's revenue streams [69]. Debt Management - The company has paid over US$2,458 million in interest and principal to fulfill its debt obligations since June 30, 2021, without defaulting on any payments [41]. - The company plans to generate cash inflow through close management of expenditures, reduction of land banking, and seeking debt refinancing [41]. - The Group's total borrowings, corporate bonds, and senior notes amounted to RMB56,582.44 million, reflecting an 11.45% year-on-year decrease [183]. - The average borrowing cost was 6.96% per annum, down from 7.13% as of June 30, 2021, indicating improved debt management [183]. - The cash short-term debt ratio was 1.25, with short-term debt due within one year amounting to RMB13,998.66 million, which is 24.74% of total debt [183]. - The Group's net gearing ratio as of December 31, 2021, was 94.37%, indicating a high level of leverage [189]. Marketing and Sales Strategies - Yuzhou Group's innovative marketing strategies included online live broadcasting and Vlog operations, enhancing brand influence and contributing to steady sales growth [37]. - The group implemented innovative marketing strategies, including online live broadcasting and Vlog operations, enhancing brand influence and sales performance [82]. - The landscape standardization action was introduced to enhance product influence, featuring a three-level system of 9 scene spaces, 25 functional modules, and 101 value points [86]. Project Development and Management - The company implemented a "well-pleasing delivery" system, ensuring high-quality and timely project deliveries through rigorous inspection mechanisms [31]. - Yuzhou Group established a special supervision work group for house delivery, coordinated by senior management to ensure compliance with delivery standards [26]. - The property management segment expanded significantly, with a total GFA of managed projects exceeding 21.88 million sq.m. and a total contracted area of over 32.90 million sq.m. as of December 31, 2021, reflecting a growth rate of 20.35% in newly added area under management [104]. - Yuzhou Group operates 39 property investment projects, with a commercial area exceeding 1.52 million sq.m., where shopping malls, office buildings, and community businesses account for 61%, 23%, and 16% respectively [95]. - The Group's total hotel operating revenue for 2021 was approximately RMB 12.11 million [115]. Awards and Recognition - The group received multiple industry awards, including the "2021 TITAN Property Awards for Real Estate Design – Gold Winner" for Shaoxing Yuzhou Yinyue Mansion [86]. - The Group's projects received multiple prestigious awards, including the International Property Award and the REARD Global Design Award [120]. - The Group has received multiple awards, including the "2020-2021 Commercial Property Excellence Enterprise" and "2021 Excellent Commercial Real Estate Operator," showcasing high industry recognition [102]. Future Strategies - Future strategies include strict cost control, reducing land purchases, promoting sales, and seeking debt refinancing to ensure cash flow for debt obligations [43]. - The company aims to adapt to the current market conditions by implementing meticulous management and finding new development opportunities [50]. - The Group's strategic expansion includes in-depth cultivation in six major metropolitan areas, ensuring a robust pipeline for future projects [128][132]. Sustainability and Innovation - The Group is committed to integrating green technology and financial tools to reduce carbon emissions and promote carbon neutrality [120]. - The Group has set development goals in green building and ecological protection, aiming to create greater social value [122]. - The Group's design philosophy emphasizes a human-centered approach, integrating modern living concepts to meet diverse homeowner needs [122]. - The Group's focus on product innovation includes enhancing product recognition through themed children's activity areas, which have received positive feedback from customers [123].

Real Estate Investment and Sales Performance - In the first half of 2021, total investment in real estate development in China amounted to RMB7,217.9 billion, representing a year-on-year increase of 15.0%[15]. - Residential investment reached RMB5,424.4 billion, reflecting a growth of 17.0% compared to the previous year[15]. - The total area of commodity housing sold was 886.35 million sq.m., marking a year-on-year increase of 27.7%[15]. - Sales of commodity housing increased by 38.9% to RMB9,293.1 billion, with residential sales rising by 41.9%[15]. - The average growth rate of real estate investment over two years was 8.2%[15]. - The average increase in sales area over two years was 8.1%[15]. - The company reported a significant increase in residential sales area, which rose by 29.4% during the same period[15]. - In the first half of 2021, Yuzhou Group's accumulated contracted sales reached RMB 52.714 billion, representing a year-on-year increase of 23.02%[29]. - The gross floor area (GFA) of contracted sales amounted to 2,845,342 sq.m., with an average contracted selling price of RMB 18,526 per sq.m.[30]. - The scale of commodity housing sales significantly increased in the first half of 2021, reflecting recovery from the COVID-19 pandemic[60]. Market Trends and Demographics - The company acknowledges a shift in the real estate industry towards a stage of profound change and transformation, moving away from high-leverage expansion models[16]. - The demographic changes in China indicate a slowing population growth rate of 0.53% annually over the past decade, impacting future housing demand[23]. - The proportion of individuals over 65 years old has reached 13.5%, highlighting the aging population issue in China[23]. Strategic Focus and Development Plans - The company is focused on adapting to the fundamental changes in market operation logic within the real estate sector[16]. - The strategic focus on tier-1 and tier-2 cities has proven effective, with Yuzhou Hefei ranking among the top five real estate enterprises in Anhui Province[29]. - The Group plans to explore non-public market resources and acquire quality land reserves through mergers and acquisitions and urban renewal projects[66]. - The Group aims to achieve qualitative and quantitative development by improving internal control and product quality while expanding its scale[68]. - The Group's strategic policy emphasizes market intensification and geographical advantages, enhancing brand profile and achieving a virtuous cycle of local development[99][100]. Financial Performance - The Group recorded revenue of RMB 12,008.10 million during the period, with a core profit attributable to owners of the parent amounting to RMB 791.26 million[34]. - The total revenue of Yuzhou Group for the six-month period ended June 30, 2021, was RMB 12,008.10 million, up by 494.86% year-on-year, marking a historical high[135]. - Property sales revenue accounted for approximately RMB 11,677.05 million, an increase of 618.20% year-on-year, representing 97.24% of total revenue[135]. - The Group's profit for the period in the first half of 2021 amounted to RMB1,201.81 million, compared to a loss of RMB227.96 million in the first half of 2020[141]. - The Group's share of profits from associates was approximately RMB79.55 million in the first half of 2021, compared to RMB7.10 million in the first half of 2020[140]. Land Acquisition and Reserves - Yuzhou Group successfully acquired high-quality land parcels in Zhengzhou at a reasonable price, marking a significant step in its development strategy[33]. - As of June 30, 2021, the Group's land reserves amounted to approximately 22.00 million sq.m. of saleable GFA, with an average land cost of approximately RMB6,854 per sq.m.[123][124]. - The company has acquired 4 high-quality land parcels in Suzhou, Zhengzhou, and Jiangmen, totaling approximately 547,871 sq.m. with an average land cost of RMB 7,847 per sq.m.[130]. Corporate Governance and ESG Performance - Yuzhou Group's ESG performance was reaffirmed with a BBB rating by MSCI, recognizing its contributions to social welfare, sustainable governance, and product quality during the COVID-19 pandemic[47][48]. - The company emphasizes the importance of risk management and refined operations in the current restructuring of the real estate market[68]. - The Group is committed to promoting market research, tenant sourcing, and pre-opening services to enhance brand value and customer satisfaction[108]. Customer Engagement and Service Quality - The mini program "U Smart" was fully launched, integrating membership rights and points to create a closed-loop consumer experience, enhancing customer engagement and loyalty[37][38]. - The company aims to build a diversified and sustainable membership ecosystem through the "smart service platform," enhancing consumer experience and service quality[37][38]. - The "Nine Craftsmanship Services" family service system was launched to provide a "satisfying + surprising" experience for owners, enhancing community engagement[43][44]. Project Development and Innovation - The Group's commercial offerings include shopping malls, office buildings, and shopping streets, reflecting a diverse product strategy[37][38]. - Yuzhou Group continues to focus on product upgrading and innovation, integrating ecological and cultural elements into its designs to build harmonious communities[47][48]. - The Group launched a new "Future Community" building plan and "Wisdom Ingenuity" project improvement plan, focusing on enhancing product quality and customer experience[118][120]. Employee and Cultural Initiatives - The company actively reserves talents to support its strategic goal of "Leading with Locality Development"[163]. - The group organized various cultural activities, including a red song competition with nearly 300,000 live viewers[162]. - The company is committed to enhancing its party organization construction to enrich corporate culture[162].

Sales Performance - In the first half of 2020, the Group's contracted sales amounted to RMB 42,851.15 million, representing a 50.49% year-on-year increase[24]. - The Group aims to achieve a total of RMB 100 billion in contracted sales for the entire year of 2020[24]. - The exceptional sales performance is attributed to the focus on tier-1 and tier-2 cities, flexible sales strategies, and high-quality products[24]. - The Group's sales strategies are designed to adapt to evolving market demands and external challenges[24]. - The Yangtze River Delta Region contributed RMB 26,767.15 million in contracted sales, accounting for 62.47% of the Group's total contracted sales, with core cities like Hefei and Suzhou leading the performance[73]. - The West Strait Economic Zone recorded contracted sales of RMB 8,129.32 million, representing 18.97% of the overall contracted sales, with Fuzhou and Xiamen as key contributors[83]. - The Bohai Rim Region achieved total contracted sales of RMB 4,837.10 million, accounting for 11.29% of the Group's contracted sales, with Qingdao Yuzhou Langham Mansion performing notably[87]. - The Group's sales in Fuzhou Yuzhou Langham Bay project contributed significantly to its performance in the region[91]. Market Outlook - The overall market outlook remains positive with robust protection for basic livelihoods provided by authorities[23]. - The macroeconomic environment is expected to improve in the second half of 2020, benefiting property developers as the pandemic is gradually controlled[44]. - The Chinese economy showed signs of recovery in the second quarter of 2020 after a decline due to the COVID-19 epidemic[23]. Strategic Development - The Group maintains a strategic policy of locality development while balancing scale, profit, and leverage[24]. - The Group's strategic approach includes disciplined land acquisition to navigate external risks and industry profit pressures[24]. - The Group plans to continue its strategy of "Leading with Locality Development" to facilitate synergetic development across various regions[64]. - The Group plans to continue expanding its land reserve and market share in key regions, particularly in the Greater Bay Area and West Strait Economic Zone[88]. - Yuzhou Group aims to achieve a contracted sales target of RMB 100 billion by expanding its business landscape in the Guangdong-Hong Kong-Macau Greater Bay Area[43]. Financial Performance - The Group's revenue for the first half of 2020 amounted to RMB2,018.64 million, with total equity reaching RMB28,706.86 million[64]. - Revenue from property sales was RMB1,625.87 million, accounting for 80.54% of total revenue, with an average selling price of RMB11,288 per sq.m.[64]. - The Group recorded a loss for the period of RMB 227.96 million, a turnaround from profit before tax in the first half of 2019[136]. - The Group's investment properties generated approximately RMB 97.23 million in income, representing a year-on-year decrease of 34.09% due to rental rate reductions during the pandemic[97]. - The total revenue for the Group for the six-month period ended June 30, 2020, was RMB2,018.64 million, with property sales revenue accounting for approximately RMB1,625.87 million, representing 80.54% of total revenue[124]. Land Acquisition and Development - In the first half of 2020, Yuzhou Group acquired 11 high-quality land parcels with a total gross floor area of approximately 1,369,190 sq.m. at attractive prices across multiple cities[28]. - The Group's land reserves amounted to approximately 21.20 million sq.m. of aggregate salable GFA, with an average land cost of approximately RMB6,602 per sq.m.[112]. - The average land cost for completed projects varies, with Yuzhou Sunshine City at 1,301 RMB/sq.m.[177]. - The company holds a total of 457,676 sq.m. in land reserves, indicating potential for future development[179]. Investment and Financing - The Group successfully issued senior notes totaling US$645 million with a coupon rate of 7.375% and US$400 million with a coupon rate of 7.70%[139]. - As of June 30, 2020, total borrowings amounted to RMB 63.66 billion, with total borrowings excluding certain cooperative partner debt at RMB 62.36 billion[142]. - The Group's cash and cash equivalents, including restricted cash and non-pledged time deposits, were RMB42,257.51 million, reflecting a 19.00% increase from RMB35,511.27 million as of December 31, 2019[145][148]. Corporate Recognition and Initiatives - The company was included in the Hang Seng China High Dividend Yield Index in February 2020, holding the highest proportion among real estate enterprises[39]. - Yuzhou Group released a green finance framework in March 2020, focusing on environmental impact in investment decisions and promoting green industries[33]. - The Group's property management division received recognition as a "Good Faith AA-level Enterprise" and ranked 36th among the "2020 Top 100 Chinese Property Service Enterprises"[106]. - Yuzhou Langham Mansion received a two-star green building certification, showcasing the Group's commitment to sustainable development[107]. Employee and Organizational Development - The total number of employees in the Group as of June 30, 2020, was 6,913, reflecting the optimization of the human resource system[152][157]. - The Project Management Office (PMO) was formally implemented to redefine responsibilities and enhance employee engagement within the organization[153][157]. - The Group's strategic deployment included a dual headquarters in Shanghai and Shenzhen, enhancing talent recruitment and brand influence across regions[153][157].