Financial Performance - Contracted sales for the first half of 2019 reached RMB 28,474 million, representing an increase of RMB 6,980 million or 32.47% compared to the first half of 2018[13]. - Recognized revenue for the same period was RMB 11,637 million, up by RMB 2,394 million or 25.91% year-on-year[13]. - Profit attributable to owners of the parent for the first half of 2019 was RMB 1,639 million, reflecting a growth of RMB 309 million or 23.22% compared to the previous year[13]. - Core profit attributable to owners of the parent was RMB 1,397 million, an increase of RMB 239 million or 20.63% year-on-year[13]. - Total revenue for the Group reached RMB 11,637.43 million for the six-month period ended June 30, 2019, representing a year-on-year increase of 25.91%[129]. - Property sales revenue was approximately RMB 11,302.84 million, up by 25.97% year-on-year, accounting for 97.12% of total revenue[129]. - Gross profit for the first half of 2019 was RMB 3,140.42 million, reflecting a 7.77% increase year-on-year, with a gross profit margin of 27.00%, down by 4.53 percentage points[131]. - Basic earnings per share increased by 8.09% to RMB33.02 cents from RMB30.55 cents for the six-month period ended 30 June 2018[142]. Assets and Equity - Total equity as of June 30, 2019, was RMB 22,819 million, up from RMB 21,430 million at the end of 2018[15]. - Total assets increased to RMB 143,207 million as of June 30, 2019, compared to RMB 115,063 million at the end of 2018[16]. - Cash position improved to RMB 38,926 million as of June 30, 2019, from RMB 29,279 million at the end of 2018[18]. - The net gearing ratio decreased to 57.7% as of June 30, 2019, down from 71.7% at the end of 2018[20]. - The Group's total borrowings amounted to RMB55,515.60 million, with a net gearing ratio of 72.70%[152][155]. Land Acquisition and Development - The company is focused on expanding its land bank and enhancing its market presence in key regions[3]. - As of June 30, 2019, the company acquired 14 high-quality land parcels with a total gross floor area of 2.12 million sq.m., valued at RMB50.3 billion[37]. - The Group's land acquisition strategy focused on key first and second-tier cities, successfully securing 9 parcels at base price or low premium rates[117][124]. - The Group believes its current land reserves are sufficient for development needs over the next three to four years[116][118]. - The total number of projects across all regions is 138, with a total area of 19,183,313 sq.m.[123]. Market Performance - Contracted sales grew by 32.47% year-on-year, amounting to RMB28,473.76 million[27]. - The Yangtze River Delta Region contributed RMB19,659.50 million in contracted sales, accounting for 69.04% of total contracted sales, with Shanghai alone contributing RMB3,392.34 million, or 11.91%[70][71]. - The average selling price in the Yangtze River Delta Region was RMB14,971 per sq.m., while the West Strait Economic Zone had an average of RMB10,006 per sq.m.[63]. - Residential property sales revenue increased by 8.4% year-on-year despite a slight decrease in sales area[51][53]. Investment Properties and Revenue - The total income from investment properties was approximately RMB 147.51 million, reflecting a year-on-year increase of approximately 44.36% due to higher rental area and rates[95]. - The Group recorded total revenue from property investment of approximately RMB 147.51 million, representing a year-on-year increase of about 44.36% due to rising rental area and rental prices[98]. - Fair value gain on investment properties was recorded at RMB 582.19 million, an increase of approximately 66.90% compared to RMB 86.29 million in the first half of 2018[133]. Expenses and Costs - The cost of sales increased to RMB 8,497.00 million, a rise of 34.26% from RMB 6,328.53 million in the same period of 2018[131]. - Selling and distribution expenses decreased by 7.04% from approximately RMB194.21 million in the first half of 2018 to approximately RMB180.54 million in the first half of 2019, accounting for 0.63% of total contracted sales[140]. - Administrative expenses grew by 6.59% from approximately RMB296.66 million in the first half of 2018 to approximately RMB316.21 million in the first half of 2019, representing 1.11% of total contracted sales[140]. - Other expenses increased by 439.11% from approximately RMB49.70 million in the first half of 2018 to approximately RMB267.94 million in the first half of 2019, mainly due to an impairment on goodwill of RMB187.32 million[140]. Corporate Strategy and Outlook - Future outlook includes continued investment in new product development and technology to drive growth[3]. - The company continues to adapt its land acquisition and sales strategies based on market demand and policy changes[37]. - The Group aims to innovate in diversified business management models, including shared offices and light-asset management for certain projects[97]. - The Group's strategy emphasizes regional deep cultivation and national leadership in the real estate market[117]. Employee and Management - The Group's management team has extensive experience in the property development industry, with most senior executives averaging over 15 years of experience[163]. - As of June 30, 2019, the Group had a total of 6,575 employees[173]. - The Group has implemented a multi-channel talent development system, including programs such as "Yu Yue Program" and "Yu Yi Training Program" to enhance talent reserves[171].

禹洲地産股份有限公司 YUZHOU PROPERTIES COMPANY LIMITED (incorporated in the Cayman Islands with limited liability) Stock Code 股份代號 : 01628.HK 穩健 睿 行 把 握 變 局 POISED FOR CHANGE ANNUAL REPORT 2018 年報 CONTENTS 目 錄 2 Corporate Information 公司資料 4 Major Events of 2018 2018年度大事記 22 Income Statement Highlights 收益表概要 23 Statement of Financial Position Highlights 財務狀況表概要 26 Chairman's Statement 主席報告 38 Management Discussion and Analysis 管理層之討論及分析 76 Business and Landbank Summary 業務及土地儲備概覽 104 Investor Relations 投資者關係 112 Direct ...