【1】2025北京商品住房展销会在京开幕 近日，由北京房地产业协会主办的"好房惠京城·春日焕新家"2025北京商品住房展销会，在首钢国际会 展中心2号馆开幕。据主办方介绍，房展会线下活动为期两天，即29日至30日，同步举行线上房展会， 市民可在北京房协官网，以及抖音、贝壳、京东、工行等"1+N"互联网平台线上逛展，线上活动持续至 5月5日。 北京商报记者了解到，本次展会共70多家机构参展，覆盖房地产、中介、金融、装饰装修、家居家电等 领域。其中，中海、华润、保利、中建智地、招商、建发、越秀、北京城建、首开等50余家在京主要开 发企业参加，覆盖全市16区及经开区的170多个在售、拿地未入市商品住房项目。 【2】长春发布"好房子"标准 近日，新城控股发布2024年年度业绩报告显示，新城控股2024年营业收入为889.99亿元，同比下降 25.32%；归母净利润为7.52亿元，同比上升2.07%；扣非归母净利润为8.7亿元，同比上升183.07%。 北京商报记者 王寅浩 李晗 【3】融创中国2024年实现收入740.2亿元 近日，融创中国发布2024年度业绩报告。报告显示，2024年融创中国实现收入740.2亿元， ...

3月28日晚间，融创中国发布2024年度业绩报告。报告期内，公司实现营业收入740.2亿元，同比减少52%，其中"物管+文旅"两大板块收入超120亿元，占比 同比提升8.2个百分点；公司拥有人应占亏损约257亿元，2023年亏损约为79.7亿元；毛利为28.9亿元，而2023年毛亏约25亿元。 《每日经济新闻》记者注意到，在累计计提减值总额超920亿元后，融创中国仍保有551.5亿元净资产和405.2亿元归属于母公司净资产。与此同时，2024年有 息负债同比减少181.6亿元，降至2596.7亿元。 "展望未来，集团将继续坚定长期信心。"融创中国主席孙宏斌在报告中表示，2025年将全力以赴在各方支持下完成交付任务和境内公开市场债务风险的化 解，争取境外债务风险化解取得实质性关键进展。同时，以每一个项目权益净资产的提升为日常管理基本目标，稳步推进项目债务风险化解和资产盘活，为 集团未来逐步回到健康发展的轨道上奠定基础。 每经记者 陈利 每经编辑 魏文艺 在债务重组方面取得重大进展的融创中国（HK01918，股价1.600港元，市值157.69亿港元），2024年业绩表现如何？ 来源：融创中国2024年报 亏损持 ...

华夏时报（www.chinatimes.net.cn）记者 李贝贝 上海报道 2024年，融创中国控股有限公司（下称"融创"，01918.HK）成为首家完成境内债务重组的房企，也是 唯一一家实现配股融资的房企。《华夏时报》记者看到，随着化债积极影响的不断累积，融创在多个经 营层面也呈现出加速回稳、质效向好的态势，为经营恢复注入动力。 3月28日晚间，融创披露2024年业绩报告。报告期内，公司实现营收740.2亿元，实现毛利28.9亿元；有 息负债降至2596.7亿元，较2023年底减少181.6亿元。而在累计计提减值总额超920亿元后，公司仍保有 551.5亿元净资产、405.2亿元归母净资产。 融创方面向《华夏时报》记者表示，在妥善化解境内债务风险的同时，已委任华利安诺基、盛德分别作 为财务顾问及法律顾问，进一步寻求更全面的境外债务综合解决方案，力争在下一阶段彻底化解境外债 务风险。 "融创始终走在房企债务风险化解的最前列，其解题思路不仅为行业提供了优秀示范，也令公司在资本 市场的信用修复早于预期。"上述机构分析师认为，融创去年10月成功配股融资12.05亿港元，已成为行 业信心提振的标志性事件。 随着公司 ...

公告表示，目前融创持续专注于物业项目的竣工交付及销售业绩的提升，并且积极开展风险化解工作， 保证集团的业务稳定及可持续运营。2024年，集团继续向保交付困难项目的属地政府申请保交楼专项借 款，同时积极申请银行配套融资及"白名单项目"融资以满足项目开发建设所需资金。截至目前，融创获 得各地政府批准的保交楼专项借款审批金额约218亿元，获得银行配套融资审批金额约104亿元，以 及"白名单项目"融资审批金额23亿元。此外，集团2024年通过引入资产管理公司合作开发项目获得资金 审批金额约61亿元。融创未来将继续通过物业销售回款，及申请保交楼专项借款、银行配套融资、"白 名单项目"融资及与金融机构合作等方式获得营运资金。 公告指出，2024年，融创积极化解债务风险，并取得显著进展。截至目前，境内公开市场债务重组方案 已全部经相关债券持有人会议审议通过，2025年将全力完成方案落地和执行。针对境外债务，集团已委 任财务顾问及法律顾问，在顾问的协助下进一步寻求更加全面的境外债务综合解决方案，争取在下一个 阶段彻底化解境外债务风险。对于项目层面融资，部分由于市场下滑造成还款有困难的，集团持续与金 融机构积极沟通推进展期方案 ...

对于2024年度经营表现，融创中国介绍称，公司积极采取多项应对策略，持续专注于物业项目的竣工交 付以落实保交付主体责任，积极开展相关债务风险化解工作和资产盘活工作，优化管控体系、缩减行政 开支等，同时关注政策变化提升产品竞争力以适应当下销售市场，保证公司业务稳定及长期可持续运 营。 保交楼作为首要任务，2024年，融创在全国84个城市共交付约17万套房屋，位列行业前三，2022—2024 年融创累计交付约66.8万套房屋。 融创中国表示，报告期内公司积极通过申请保交楼专项借款、配套融资、申报"白名单"等融资资源支持 物业项目的开发建设及顺利竣工交付。截至目前，公司获得保交楼专项借款审批金额218亿元、银行配 套融资审批金额104亿元，以及"白名单"项目融资审批金额23亿元，共计约345亿元。 此外，2024年，融创中国完成了总规模154亿元的境内债重组，也是行业首家完成境内公司债整体重组 的房企，公司预计可削降约70%的境内公司债务，且5年内不再有兑付压力。同时，通过与AMC合作， 融创中国将"减负"延伸到项目层面。 2025年保交楼将进入收尾阶段 3月28日，融创中国(01918.HK)发布2024年业绩公 ...

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。 SUNAC CHINA HOLDINGS LIMITED 截 至 2024 年 12 月 31 日止年度之經審核業績公告 業績摘要 截至2024年12月31日止年度： 1 • 本集團連同其合營公司及聯營公司的合同銷售金額約為人民幣471.4億元； • 於2024年12月31日，本集團連同其合營公司及聯營公司的權益土地儲備約 8,756.5萬平方米，其中未售權益土地儲備約6,301萬平方米； • 本集團收入約為人民幣740.2億元，較去年減少約52%； • 本集團毛利約為人民幣28.9億元，去年毛虧約為人民幣25.0億元； • 本公司擁有人應佔虧損約為人民幣257.0億元， 去年本公司擁有人應佔虧損 約為人民幣79.7億元；本年度本公司擁有人應佔虧損較去年大幅增加主要是 因為去年錄得境外債務重組收益，若本年度及去年均剔除債務重組收益的影 響，本年度本公司擁有人應佔虧損較去年有所減少； • 於2024年12 ...

智通财经APP获悉，融创中国(01918)午前跌超5%，截至发稿，跌5.46%，报1.73港元，成交4.08亿港 元。 消息面上，3月17日，融创中国发布公告，预期截至2024年12月31日止年度本公司拥有人应占亏损约人 民币255亿元至人民币260亿元(截至2023年12月31日止年度：本公司拥有人应占亏损约为人民币79.7亿 元)，该金额已包含本年度实现的部分境内债务重组收益。本年度取得亏损主要由于受市场下行的影 响，本公司结转收入大幅减少且同时计提资产减值拨备及或有负债拨备所致。本年度本公司拥有人应占 亏损较去年大幅增加主要是因为去年取得境外债务重组收益，如本年度及去年均剔除债务重组收益的影 响，本年度本公司拥有人应占亏损预计较去年有所减少。 港股异动 | 融创中国(01918)午前跌超5% 公司近日 发盈警 预期年度股东应占亏损约255亿元至260亿元 ...

Company Overview and Business Segments - Sunac China Holdings Limited is a leading enterprise in China's real estate industry, with nationwide leading capabilities in comprehensive urban development and integrated industrial operation[2][3] - The Group's real estate development business is mainly located in the Yangtze River Delta, Bohai Rim, South China, Central regions, and Western regions, divided into 9 major regions for management[4][5] - The Group has a high-quality land bank with an advantageous layout and leading product development capabilities[4][5] - Sunac China Holdings Limited is also a leading ice & snow industry operator and a leading cultural tourism industry operator and property owner in China[2][3] - The Group's shares are listed on the Main Board of The Stock Exchange of Hong Kong Limited since 2010[2][3] - The company's operating segments include property development, cultural tourism city construction and operation, property management, and other segments[111] - Other segments primarily include film and cultural investments and office building leasing, with their performance included in the "All Other Segments" column[111] Financial Performance and Key Metrics - The company completed the delivery of approximately 58,000 housing units in 52 cities in the first half of 2024, aiming to deliver over 170,000 units for the full year[16] - The company's revenue for the first half of 2024 was approximately RMB 34.28 billion, a decrease of 41.4% year-over-year, with a gross loss of RMB 1.81 billion, a reduction of 41.2% compared to the same period last year[16] - The company's net loss attributable to shareholders was approximately RMB 14.96 billion, a decrease of 2.7% year-over-year, with net assets attributable to shareholders standing at RMB 47.96 billion as of June 30, 2024[16] - The company's total land reserves, including joint ventures and associates, were approximately 145 million square meters, with unsold land reserves of about 100 million square meters[17] - The property management segment, Sunac Services, achieved revenue of approximately RMB 3.48 billion and a gross profit of RMB 890 million in the first half of 2024, with a managed area of 282 million square meters and over 1.6 million managed households[17] - The company's cultural tourism segment, including theme parks, commercial properties, hotels, and snow parks, generated revenue of approximately RMB 2.48 billion, with the snow park segment growing 13% year-over-year to RMB 420 million[17] - The company's total revenue, including joint ventures and associates, was approximately RMB 79.09 billion in the first half of 2024, a decrease of 46.5% year-over-year, with attributable revenue of RMB 44.28 billion, down 52.3%[18] - Property sales accounted for 81.9% of total revenue at RMB 28.08 billion, while cultural tourism construction and operations contributed 7.2% at RMB 2.48 billion, and property management contributed 9.9% at RMB 3.39 billion[19] - The total delivered construction area in the first half of 2024 was 2.785 million square meters, a decrease of 42.2% compared to the same period last year[19] - The company's sales cost decreased by 41.4% year-over-year to RMB 36.09 billion, primarily due to a reduction in property delivery area[20] - Gross loss decreased by RMB 1.27 billion to RMB 1.81 billion in the six months ended June 30, 2024, compared to RMB 3.08 billion in the same period in 2023[21] - Gross margin remained at -5.3% for the six months ended June 30, 2024, consistent with the same period in 2023[21] - Sales and marketing expenses decreased by 51.5% to RMB 1.11 billion in the six months ended June 30, 2024, from RMB 2.29 billion in the same period in 2023[22] - Administrative expenses decreased by RMB 770 million to RMB 1.78 billion in the six months ended June 30, 2024, from RMB 2.55 billion in the same period in 2023[22] - Other income and gains increased by RMB 640 million to RMB 2.53 billion in the six months ended June 30, 2024, primarily due to gains from the sale of subsidiaries, joint ventures, and associates[23] - Other expenses and losses amounted to RMB 6.40 billion in the six months ended June 30, 2024, including provisions for litigation and other contingent liabilities of RMB 3.25 billion[24] - Expected credit loss impairment increased by RMB 640 million to RMB 1.11 billion in the six months ended June 30, 2024, compared to RMB 470 million in the same period in 2023[25] - Operating loss decreased by RMB 3.24 billion to RMB 9.68 billion in the six months ended June 30, 2024, from RMB 12.92 billion in the same period in 2023[26] - Cash balance (including restricted cash) increased to RMB 25.68 billion as of June 30, 2024, from RMB 24.62 billion as of December 31, 2023[31] - Total borrowings decreased by RMB 400 million to RMB 277.43 billion as of June 30, 2024, from RMB 277.83 billion as of December 31, 2023[32] - The company's capital-debt ratio increased to 79.2% as of June 30, 2024, up from 75.2% at the end of 2023, primarily due to reduced revenue and provisions for contingent liabilities[33] - The company recorded a foreign exchange loss of approximately RMB 310 million during the six months ended June 30, 2024, due to market exchange rate fluctuations[36] - The company provided guarantees for mortgage loans amounting to approximately RMB 79.92 billion as of June 30, 2024, slightly down from RMB 79.98 billion at the end of 2023[37] - The company is involved in 368 lawsuits with claims exceeding RMB 50 million each, totaling approximately RMB 139.94 billion, mainly related to unpaid loans and construction costs[38] - The company's total land reserves, including joint ventures and associates, amounted to approximately 1.45 billion square meters as of June 30, 2024, with equity land reserves of approximately 973.83 million square meters[39] - The Yangtze River Delta region accounts for 1.51 billion square meters of the company's equity land reserves and 2.38 billion square meters of total land reserves[40] - The Bohai Rim region accounts for 2.39 billion square meters of the company's equity land reserves and 3.00 billion square meters of total land reserves[41] - The Western region accounts for 3.52 billion square meters of the company's equity land reserves and 5.69 billion square meters of total land reserves[42] - The Central region accounts for 1.31 billion square meters of the company's equity land reserves and 2.07 billion square meters of total land reserves[42] Corporate Governance and Shareholder Information - The company has adopted the Corporate Governance Code and complied with all applicable code provisions during the six months ended June 30, 2024[43] - A total of 51.08 million share options were granted under the Pre-IPO Share Option Plan, representing approximately 1.67% of the total issued shares post-global offering[44] - Under the 2011 Share Option Plan, 99.9 million share options were granted, representing approximately 3.33% of the total issued shares at the adoption date[44] - Under the 2014 Share Option Plan, 166.37 million share options were granted, representing approximately 5% of the total issued shares at the adoption date[45] - The Share Incentive Plan allows the trustee to purchase up to 220,113,960 shares, representing 5% of the total issued shares at the adoption date[46] - The trustee purchased 94.653 million shares under the Share Incentive Plan for a total consideration of approximately HKD 2.57 billion by June 30, 2019[46] - As of June 30, 2024, the trustee can purchase an additional 125,460,960 shares under the Share Incentive Plan, representing approximately 1.45% of the total issued shares[46] - A cumulative total of 57.505 million incentive shares were initially granted to selected employees under the Share Incentive Plan from the adoption date to June 30, 2024[47] - As of June 30, 2024, 165,013,460 incentive shares were available for granting under the Share Incentive Plan, representing approximately 1.91% of the total issued shares[47] - Total employee incentive shares granted from 2019 to 2021 amounted to 57,505,000, with 36,772,000 shares granted as of June 30, 2024[48] - Sun Hongbin holds approximately 29.28% of the company's equity, with 2,523,668,639 shares held through controlled entities[51] - The company has suspended the vesting of incentive shares granted to directors and employees from 2019 to 2021 due to industry and operational conditions[48] - Sunac International holds $117,431,726 in mandatory convertible bonds, which can be converted into 228,991,865 shares at a minimum conversion price of HK$4.00 per share[54] - The total number of shares issued as of June 30, 2024, is 8,620,471,579[52] - Sunac International holds 65,721,489 shares of Sunac Services, representing approximately 2.20% of the total issued shares[56] - The company's directors and senior management hold a combined total of 29,098,000 incentive shares as of June 30, 2024[48] - Sun Hongbin holds 67,288,606 shares of Sunac Services through controlled entities, representing approximately 2.20% of the total issued shares[55] - The company's board of directors has decided to suspend the vesting of incentive shares granted from 2019 to 2021[48] - The total number of shares issued by Sunac Services as of June 30, 2024, is 3,056,844,000[56] - Sunac International holds 2,474,962,639 shares, representing 28.71% of the company's total issued shares[58] - Sunac International holds 228,991,865 shares, representing 2.66% of the company's total issued shares[60] - The principal amount of unconverted mandatory convertible bonds held by Sunac International is $117,431,726, which can be converted into 228,991,865 shares at a minimum conversion price of HK$4.00 per share[61] Debt Restructuring and Financial Obligations - The company completed a restructuring cooperation with Guotou Zhongdian, transferring 70% equity and creditor rights of the target company for a total consideration of approximately RMB 3.974 billion[62] - The company sold 80% equity of the Shijiazhuang Central Business Zone project for a total consideration of approximately RMB 814 million[63] - The company sold 51% equity and related creditor rights of the Chongqing University Town project for a total consideration of RMB 540 million[64] - The company issued $1 billion in convertible bonds as part of its offshore debt restructuring, with an initial conversion price of HK$20.00 per share[67] - As of June 30, 2024, the principal amount of unconverted convertible bonds is $754,949,370, which can be converted into 294,430,254 shares at a conversion price of HK$20.00 per share[67] - The company issued mandatory convertible bonds with a total principal amount of $2,749,997,804 as part of its offshore debt restructuring on November 20, 2023[68] - During the first conversion period, $1,903,933,926 (69.23% of the initial issuance) of the mandatory convertible bonds were converted into 2,475,113,989 shares at a conversion price of HK$6.00 per share[68] - As of June 30, 2024, $717,637,751 of the mandatory convertible bonds remained unconverted, which could be converted into 1,399,393,614 shares at a minimum conversion price of HK$4.00 per share[69] - The company issued shareholder mandatory convertible bonds with a total principal amount of $450,000,000 to Sunac International on November 20, 2023[70] - As of June 30, 2024, $117,431,726 of the shareholder mandatory convertible bonds remained unconverted, which could be converted into 228,991,865 shares at a minimum conversion price of HK$4.00 per share[70] - If all outstanding convertible bonds, mandatory convertible bonds, and shareholder mandatory convertible bonds were converted, it would result in the issuance of approximately 1,922,815,733 shares, representing 22.31% of the total issued shares as of June 30, 2024[71] - The company reported a net loss attributable to owners of approximately RMB 14.96 billion for the six months ended June 30, 2024, with basic and diluted loss per share of RMB 1.79[74] - As of June 30, 2024, the company had net assets of approximately RMB 66.26 billion and net current liabilities of approximately RMB 49.23 billion[74] - The company expects to fulfill its redemption obligations under the convertible bonds if it successfully implements the plans and measures outlined in the interim condensed consolidated financial statements[74] - For holders of the mandatory convertible bonds and shareholder mandatory convertible bonds, converting the bonds into shares or redeeming them would yield equally favorable economic returns when the company's stock price approaches the conversion price[74] - The company successfully completed its offshore debt restructuring plan, effective from November 20, 2023, with creditors fully releasing and discharging existing debts in exchange for new notes, convertible bonds, and shares of Sunac Services Holdings Limited[94] - The company has reached loan extensions totaling approximately RMB 36.05 billion as of the approval date of the interim financial statements[94] - The company is actively seeking new financing or additional funding through various channels, including asset management companies, financial institutions, and asset disposals[94] - The company adjusted bond repayment arrangements, deferring principal and interest payments originally due in June and September 2024 to December 2024[94] - The company expects to secure sufficient funds for normal business operations and meet financial obligations over the next 18 months starting from June 30, 2024[95] - The company has completed settlements with certain creditors and continues to work on resolving pending litigation[95] - The company has streamlined its organizational structure, reducing management layers and personnel to improve efficiency and control costs[95] - The company is actively responding to government policies to stabilize the real estate market and complete housing delivery tasks[95] Asset and Liability Management - The company's total assets decreased from RMB 977.85 billion as of December 31, 2023, to RMB 961.97 billion as of June 30, 2024[83] - Non-current assets decreased from RMB 219.35 billion as of December 31, 2023, to RMB 214.53 billion as of June 30, 2024[83] - Current assets decreased from RMB 758.50 billion as of December 31, 2023, to RMB 747.44 billion as of June 30, 2024[83] - Total liabilities decreased slightly from RMB 894.07 billion as of December 31, 2023, to RMB 895.71 billion as of June 30, 2024[84] - Non-current liabilities decreased from RMB 114.82 billion as of December 31, 2023, to RMB 99.04 billion as of June 30, 2024[84] - Current liabilities increased from RMB 779.25 billion as of December 31, 2023, to RMB 796.67 billion as of June 30, 2024[84] - The company's equity decreased from RMB 83.79 billion as of December 31, 2023, to RMB 66.26 billion as of June 30, 2024[83] - The company faces significant uncertainties regarding its ability to continue as a going concern, primarily due to challenges in raising sufficient funds to repay domestic and foreign public debts[82] - The company's property, plant, and equipment decreased from RMB 65.61 billion as of December 31, 2023, to RMB 22.57 billion as of June 30, 2024[83] - The company's investment properties decreased from RMB 22.10 billion as of December 31, 2023, to RMB 12.99 billion as of June 30, 2024[83] - Revenue for the six months ended June 30, 2024, was RMB 34,279.6 million, a decrease of 41.4% compared to RMB 58,472.8 million in the same period in 2023[86] - Gross loss for the six months ended June 30, 2024, was RMB 1,808.7 million, compared to a gross loss of RMB 3,078.8 million in the same period in 2023[86] - Operating loss for the six months ended June 30, 2024, was RMB 9,681.2 million, a decrease of 25.1% compared to RMB 12,917.6 million in the same period in 2023[86] - Net loss attributable to the company's owners for the six months ended June 30, 2024, was RMB 14,957.2 million, compared to RMB 15,366.8 million in the same period in 2023[86] - Total equity as of June 30, 2024, was RMB 66,258.2 million, a decrease of 23.3% compared to RMB 86,402.8 million as of January 1, 2023[87][88] - Non-controlling interests' equity as of June 30, 2024, was RMB 18,295.3 million, a decrease of 34.5% compared to RMB 27,934.4 million as of January 1, 2023[87][88] - The company issued shares worth RMB 514.1 million after the conversion of convertible bonds and mandatory convertible bonds[87] - The company recorded a net loss of RMB 16,665.0 million for the six months ended June 30, 202

Financial Performance - The group's contracted sales amount to approximately RMB 26.28 billion for the six months ended June 30, 2024[2]. - The group's revenue is approximately RMB 34.28 billion, a decrease of about 41.4% compared to the same period last year[2]. - The group's gross loss is approximately RMB 1.81 billion, a reduction of about 41.2% year-on-year[2]. - The loss attributable to the owners of the company is approximately RMB 14.96 billion, a decrease of about 2.7% compared to the same period last year[2]. - The company reported a net loss of approximately RMB 16.67 billion for the six months ended June 30, 2024[15]. - The basic and diluted loss per share attributable to owners is RMB 1.79 for the six months ended June 30, 2024, compared to RMB 2.86 for the same period last year[6]. - The total loss for the reporting segment was RMB 16,665,026 for the six months ended June 30, 2024, compared to RMB 17,066,152 for the same period in 2023, indicating a decrease in loss of approximately 2.4%[23]. - The company's gross loss for the six months ended June 30, 2024, was approximately RMB 1.81 billion, reduced from RMB 3.08 billion in the same period of 2023[53]. - The company's property sales revenue for the same period was approximately RMB 28.08 billion, down about 46.1% from RMB 52.14 billion in the previous year[51]. - The company's selling and marketing expenses decreased by approximately 51.5% to about RMB 1.11 billion from RMB 2.29 billion in the previous year[54]. - The company's administrative expenses decreased to approximately RMB 1.78 billion from RMB 2.55 billion, a reduction of about RMB 770 million[54]. - The company reported a significant increase in interest payable from RMB 23,278,904 to RMB 33,617,738, reflecting an increase of about 44.4%[32]. - The company reported a net impairment loss on property, plant, and equipment of RMB 4,107,338 thousand for the six months ended June 30, 2024[38]. - The company faced foreign exchange losses of approximately RMB 310 million due to fluctuations in market exchange rates during the six months ending June 30, 2024[68]. - Other income for the six months ended June 30, 2024, totaled RMB 2,529,694 thousand, compared to RMB 1,885,839 thousand in the previous year[39]. - Other income and gains for the six months ended June 30, 2024, amounted to approximately RMB 2.53 billion, an increase of about RMB 640 million compared to RMB 1.89 billion for the same period in 2023[55]. - Other expenses and losses for the six months ended June 30, 2024, were approximately RMB 6.40 billion, slightly decreased from RMB 6.42 billion for the same period in 2023[56]. Financial Position - As of June 30, 2024, the group's cash balance is approximately RMB 25.68 billion, with a total cash balance including joint ventures and associates of approximately RMB 53.83 billion[2]. - The total borrowings of the group amount to approximately RMB 277.43 billion as of June 30, 2024[2]. - The group's equity attributable to owners is approximately RMB 47.96 billion as of June 30, 2024[9]. - The group's total assets amount to approximately RMB 961.97 billion as of June 30, 2024[10]. - The group's total liabilities are approximately RMB 895.71 billion as of June 30, 2024[10]. - As of June 30, 2024, the company's current liabilities net amount was approximately RMB 49.23 billion[15]. - The total outstanding borrowings amounted to approximately RMB 106.96 billion, with RMB 57.44 billion potentially subject to early repayment[15]. - The total assets for the property development segment amounted to RMB 790,473,899,000 as of June 30, 2024[21]. - The total liabilities for the property development segment were RMB 776,334,465,000 as of June 30, 2024[21]. - The total assets decreased from RMB 977,854,203 as of December 31, 2023, to RMB 961,969,990 as of June 30, 2024, reflecting a decline of about 1.6%[23]. - The total liabilities increased slightly from RMB 894,068,338 as of December 31, 2023, to RMB 895,711,804 as of June 30, 2024, representing an increase of approximately 0.2%[23]. - The investment in joint ventures decreased from RMB 53,400,856 at the beginning of the period to RMB 50,141,652 at the end of the period, a decline of about 6.3%[25]. - The investment in associates remained relatively stable, with a slight decrease from RMB 15,850,233 to RMB 15,872,961, indicating an increase of approximately 0.1%[26]. - Trade receivables increased from RMB 4,179,618 as of December 31, 2023, to RMB 4,529,505 as of June 30, 2024, reflecting an increase of about 8.4%[27]. - Other receivables rose significantly from RMB 22,292,493 to RMB 31,324,376, marking an increase of approximately 40.6%[27]. - The total prepayments decreased slightly from RMB 15,021,667 as of December 31, 2023, to RMB 14,283,425 as of June 30, 2024, a decline of about 4.9%[31]. - Trade payables increased from RMB 109,523,789 to RMB 111,963,333, representing an increase of approximately 2.2%[32]. - The overdue notes payable as of June 30, 2024, were RMB 24,790,000 thousand[34]. - The total borrowings stood at RMB 277,425,300 thousand, with non-current secured borrowings at RMB 269,354,724 thousand[37]. - The debt-to-capital ratio increased to approximately 79.2% as of June 30, 2024, from 75.2% as of December 31, 2023[65]. - The company had total outstanding borrowings of approximately RMB 1,934.9 billion and RMB 839.3 billion in current and non-current borrowings, respectively[50]. - The company reported that the total unpaid principal of borrowings due was approximately RMB 114.32 billion, which may lead to early repayment demands[50]. Operational Highlights - The company completed the delivery of approximately 58,000 housing units in 52 cities in the first half of 2024, aiming to exceed 170,000 units for the entire year[71]. - The company’s property management segment, Sunac Services, achieved revenue of approximately RMB 3.48 billion, with a stable growth in gross profit[72]. - The company’s tourism and cultural segment generated revenue of approximately RMB 2.48 billion, with the ice and snow segment alone achieving a revenue increase of about 13% year-on-year[72]. - The total area of properties delivered during the period was 2,785,000 square meters, a decrease of approximately 42.2% compared to 4,817,000 square meters in the previous year[51]. - The company has consolidated its decoration services into the property development segment to better reflect its current business strategy[18]. - The company has achieved loan extensions totaling approximately RMB 36.05 billion as of the date of the financial report approval[16]. - The company is actively seeking new financing through various channels, including asset management companies and financial institutions[16]. - The company is committed to fulfilling its responsibilities in ensuring project delivery, responding to government calls for housing completion[16]. - The company is actively communicating with creditors to seek extensions and comprehensive solutions to existing debt issues due to ongoing market downturns[71]. Corporate Governance - The company has established an audit committee to oversee financial reporting and risk management, consisting of four independent non-executive directors[84]. - The interim results for the six months ending June 30, 2024, have been reviewed by an independent auditor[85]. - The interim report will be published on the company's and the stock exchange's websites at an appropriate time[86]. - The board of directors includes executive directors Sun Hongbin, Wang Mengde, Ma Zhixia, Tian Qiang, Huang Shuping, and Sun Zheyi[87]. - The company is led by non-executive director Lin Huaihan and independent non-executive directors Pan Zhaoguo, Zhu Jia, Ma Lishan, and Yuan Zhigang[87]. Debt Restructuring - The company successfully completed a debt restructuring plan effective from November 20, 2023, which involved the issuance of new notes and convertible bonds[16]. - The company is facing significant uncertainties regarding its ability to continue as a going concern due to its financial situation[15]. - The group expects to secure sufficient funding for normal operations over the next 18 months starting from June 30, 2024, to meet financial obligations[17]. - The company has completed a restructuring agreement to acquire 70% equity and debt of a target company for approximately RMB 3.974 billion[79]. - The company has agreed to sell 80% equity of a central business district project for approximately RMB 814 million, with RMB 148 million offset against debts owed[80]. - The company has finalized the sale of a project in Chongqing for a total consideration of RMB 540 million, acquiring 51% equity and related debts[81].

Financial Performance - Revenue for 2023 was RMB 154.23 billion, a significant increase from RMB 96.75 billion in 2022[11] - The company reported a gross loss of RMB 2.5 billion in 2023, compared to a gross loss of RMB 0.82 billion in 2022[11] - Net loss attributable to the company's owners was RMB 10.41 billion in 2023, an improvement from RMB 29.89 billion in 2022[11] - Revenue in 2023 reached approximately RMB 154.23 billion, a year-on-year increase of 59.4%[14] - Gross loss in 2023 was approximately RMB 2.5 billion, a year-on-year increase of 204.9%[14] - The company's attributable loss in 2023 was approximately RMB 7.97 billion, a year-on-year decrease of 71.2%[14] - Total revenue for the year was RMB 154.23 billion, with property sales accounting for 91.1% (RMB 140.47 billion)[17] - Gross loss increased by RMB 1.68 billion to RMB 2.5 billion, with a gross margin of -1.6%, down from -0.8% in the previous year[20] - Operating loss decreased by RMB 20.1 billion to RMB 1.93 billion, mainly due to increased other income and reduced sales and administrative costs[24] - The company's attributable loss decreased by RMB 19.7 billion to RMB 7.97 billion[27] - Annual loss attributable to the company's owners was RMB 7.97 billion, compared to RMB 27.67 billion in the previous year[28] - Revenue increased to RMB 154.23 billion in 2023 from RMB 96.75 billion in 2022, an increase of 59.4%[183] - Gross loss widened to RMB 2.50 billion in 2023 from RMB 819.18 million in 2022, an increase of 205.5%[183] - Operating loss narrowed to RMB 1.93 billion in 2023 from RMB 22.03 billion in 2022, a decrease of 91.2%[183] - Net loss narrowed to RMB 10.41 billion in 2023 from RMB 29.89 billion in 2022, a decrease of 65.2%[183] - Basic loss per share decreased to RMB 1.43 in 2023 from RMB 5.16 in 2022, a decrease of 72.3%[183] - Total comprehensive loss for 2023 was RMB 10,411,490 thousand, with the company's owners' share of retained earnings decreasing by RMB 7,968,963 thousand[185] - Net loss for the year ended December 31, 2023, was approximately RMB 10.41 billion, with net current liabilities of approximately RMB 20.74 billion as of December 31, 2023[191] Cash Flow and Liquidity - Cash and cash equivalents (including restricted cash) decreased to RMB 24.62 billion in 2023 from RMB 37.54 billion in 2022[11] - The company's cash balance (including restricted cash) decreased from RMB 37.54 billion in 2022 to RMB 24.62 billion in 2023, with unrestricted cash dropping from RMB 11.6 billion to RMB 7.06 billion[29] - Total cash balance (including cash and cash equivalents and restricted cash) was approximately RMB 24.62 billion as of December 31, 2023[192] - Cash and cash equivalents decreased by RMB 4.57 billion in 2023, with year-end cash and cash equivalents at RMB 7.06 billion[187] - The company repaid borrowings of RMB 10.59 billion in 2023, compared to RMB 55.22 billion in 2022[187] - The company received RMB 2.71 billion in loan guarantees in 2023, down from RMB 12.39 billion in 2022[187] - Operating cash flow for 2023 was negative RMB 15,785,722 thousand, a significant decline from the positive RMB 20,737,947 thousand in 2022[186] - Investment activities generated a net cash inflow of RMB 2,738,227 thousand in 2023, down from RMB 5,565,448 thousand in 2022[186] - The company issued new shares worth RMB 7,863,880 thousand through the conversion of convertible bonds and mandatory convertible bonds[185] - The company received RMB 3,086,826 thousand from the redemption of financial assets at fair value through profit or loss in 2023[186] Debt and Liabilities - Total liabilities decreased to RMB 894.06 billion in 2023 from RMB 1,003.77 billion in 2022[12] - Total borrowings decreased by RMB 20.59 billion, from RMB 298.42 billion in 2022 to RMB 277.83 billion in 2023[30] - The capital-to-debt ratio remained stable at 75.2% in both 2022 and 2023[31] - Total liabilities decreased to RMB 894.07 billion in 2023 from RMB 1,003.76 billion in 2022, a decline of 10.9%[181] - Non-current liabilities increased to RMB 114.82 billion in 2023 from RMB 68.49 billion in 2022, an increase of 67.7%[181] - Outstanding borrowings due as of December 31, 2023, were approximately RMB 109.06 billion, with RMB 41.64 billion potentially subject to early repayment[192] - The company successfully completed its offshore debt restructuring plan, approved by 98.3% of the creditors, effective from November 20, 2023[192] - The company has extended loans totaling approximately RMB 37.28 billion as of the approval date of the financial statements[193] - The company faces significant uncertainty in raising sufficient funds to repay domestic and foreign public debts, and in negotiating extensions or deferrals with lenders[194] - The company's ability to continue as a going concern depends on the successful execution of sales strategies to stabilize asset values and improve future sales stability[194] - The company has prepared cash flow forecasts covering at least 18 months from December 31, 2023, and believes it will have sufficient funds to meet financial obligations during this period[194] Land Reserves and Property Development - Total land reserves at the end of 2023 were approximately 154 million square meters, with an estimated value of RMB 1.7 trillion[14] - The company completed the delivery of approximately 310,000 housing units in 101 cities in 2023 and aims to deliver over 200,000 units in 2024[13] - Total land reserves (including joint ventures and associates) stood at 154 million square meters, with equity land reserves of 102 million square meters[37] - The Yangtze River Delta region accounts for 1.608 million square meters of equity land reserves and 2.597 million square meters of total land reserves[38] - Total land reserves in the Bohai Rim region amount to 3,200.64 million square meters, with equity land reserves at 2,538.17 million square meters[39] - In the South China region, the total land reserves are 1,427.81 million square meters, with equity land reserves at 1,054.25 million square meters[40] - The Western region has the largest land reserves at 5,914.85 million square meters, with equity land reserves at 3,618.95 million square meters[41] - The Central region's total land reserves are 2,270.88 million square meters, with equity land reserves at 1,378.31 million square meters[41] - The company's total land reserves across all regions amount to 15,411.36 million square meters, with equity land reserves at 10,197.97 million square meters[41] Corporate Governance and Leadership - Sun Hongbin, the founder and chairman, has over 30 years of experience in the Chinese real estate industry and holds a master's degree in engineering from Tsinghua University[42] - Wang Mengde, the CEO, has over 20 years of experience in the real estate industry and has been with the company since 2006, previously serving as CFO and vice president[42] - Jing Hong, the executive president and Beijing regional chairman, joined the company in 2007 and has extensive experience in real estate development[42] - Tian Qiang, the executive president and Shanghai regional president, has been with the company since 2007 and previously held various roles in sales and management[43] - Huang Shuping, the executive president and South China regional president, joined the company in 2007 and has held various financial and executive roles[44] - Non-executive Director Mr. Lam Wai Hon, aged 70, has over 40 years of experience in professional accounting, merchant banking, investment banking, and financial services. He is currently an executive director of Wah Fu International Finance Limited (Stock Code: 952) and an independent non-executive director of several listed companies including Pacific Online Limited (Stock Code: 543) and Far East Consortium International Limited (Stock Code: 035)[45] - Independent Non-executive Director Mr. Poon Chiu Kwok, aged 61, has extensive experience in financial management and governance of listed companies. He serves as an executive director and vice president of Huabao International Holdings Limited (Stock Code: 336) and holds independent non-executive director positions in multiple listed companies including Aokesi International Holdings Limited (Stock Code: 2080) and China National Nuclear Power Co., Ltd. (Stock Code: 1763)[46] - Independent Non-executive Director Mr. Zhu Jia, aged 61, is a partner at Bain Capital Private Equity (Asia) LLC and has extensive experience in cross-border mergers and acquisitions and international financing transactions involving Chinese companies. He currently serves as a director of Nasdaq-listed Chindata Group[47] - Independent Non-executive Director Mr. Ma Lishan, aged 72, has held senior positions in several large Sino-foreign joint ventures under COFCO Group, including Chairman and General Manager of Great Wall Wine and Fortune Cooking Oil. He has served as an independent non-executive director of multiple listed companies including SCE Group Limited (Stock Code: 1207) and Huarong International Financial Holdings Limited (Stock Code: 993)[48] - Mr. Yuan Zhigang, an independent non-executive director, holds a Ph.D. in Economics from EHESS and has extensive experience in macroeconomic research and financial system reform[49] - Ms. Ma Zhixia, Chief Operating Officer and Executive President, joined the group in 2003 and has been managing the group's real estate operations since 2005[51] - Mr. Wang Peng, Executive President and Southeast Regional President, has been with the group since 2004 and has held various leadership roles, including Vice President and Executive President[51] - Mr. Gao Xi, Chief Financial Officer and Vice President, joined the group in 2007 and has been responsible for financing, compliance, and investor relations since 2011[52] - Mr. Wang Yingjia, Executive President and Central China Regional President, has been with the group since 2004 and has extensive experience in the real estate industry[53] - Mr. Zhang Qiang, Vice President and Chengdu-Chongqing Regional President, joined the group in 2003 and has a strong background in team and marketing management[53] - Mr. Lu Peng, Executive President and General Manager of Hot Snow Miracle Company, has been with the group since 2003 and has extensive experience in project management and investment[53] - Mr. Zhu Zuxing, Vice President and Northwest Regional President, joined the group in 2003 and has a strong background in product design and project management[54] - Mr. Shi Yu, Senior Vice President and President of Yungui Region, joined the company in 2016 and has extensive experience in digital technology, product development, and customer relationship management[55] - Mr. Zhang Xiaohui, Vice President and President of North China Region, joined the company in 2007 and has rich experience in real estate investment and team management[55] - Mr. Zhu Jia was promoted to partner at Bain Capital in January 2023[56] - Mr. Yuan Zhigang resigned as an independent director of Shanghai Pudong Development Bank Co., Ltd. in January 2023[56] - Mr. Chi Xun and Mr. Shang Yu resigned as executive directors of the company in April 2023[56] - Mr. Pan Zhaoguo was appointed as an independent non-executive director of China Isotope & Radiation Corporation in June 2023[56] - Mr. Yuan Zhigang resigned as an external supervisor of Bank of Shanghai Co., Ltd. in July 2023[57] - Mr. Pan Zhaoguo resigned as an independent non-executive director of Yuanda China Holdings Limited in September 2023[57] - The company has adopted the Corporate Governance Code and complied with all applicable code provisions as of December 31, 2023[59] - The company has established a mechanism to ensure the board of directors can obtain independent views and opinions, and will review the implementation and effectiveness of this mechanism annually[59] - The board of directors consists of six executive directors, one non-executive director, and four independent non-executive directors, responsible for overseeing the company's strategic development and financial performance[62] - The company has established multiple board committees, including the Audit Committee, Nomination Committee, Remuneration Committee, and ESG Committee, each with clearly defined responsibilities[62] - The company has complied with the Listing Rules regarding the appointment of at least three independent non-executive directors, with one having appropriate accounting or financial management expertise[63] - The roles of the Chairman and CEO are clearly separated, with Sun Hongbin as Chairman responsible for strategic direction and Wang Mengde as CEO responsible for implementing the board's strategies[64] - The board held four meetings in 2023 to discuss corporate strategy, business planning, performance progress, and overseas debt restructuring[65] - The Audit Committee, chaired by independent non-executive director Pan Zhaoguo, held five meetings in 2023 to review internal controls, risk management, and financial statements[68][69] - The company held an annual general meeting for the 2022 financial statements and a special general meeting for the proposed overseas debt restructuring transactions[65] - The company's audit committee reviewed the cash flow for 2023 and monitored the overall financial condition of the group[70] - The company's nomination committee held two meetings in 2023, focusing on board structure, independence of non-executive directors, and diversity policy implementation[71][72] - The company's board currently consists entirely of male members, with a proposal to appoint a female board member at the upcoming annual general meeting[76] - As of December 31, 2023, the company's workforce comprised 23,341 male employees (59.5%) and 15,887 female employees (40.5%)[78] - The company has implemented recruitment and selection measures to promote gender diversity and established talent management and training programs[78] - The nomination committee evaluates candidates based on integrity, industry experience, commitment, and ability to contribute to the company's strategy[74] - The company's nomination policy includes a thorough due diligence process for appointing or reappointing board members[75] - The company adheres to fair employment practices, without restrictions based on gender, ethnicity, nationality, or region[77] - The audit committee reviewed the company's risk management and internal control systems, providing recommendations for improvement[70] - The company's nomination committee ensures board diversity by considering factors such as gender, age, cultural background, and professional qualifications[76] - The Compensation Committee held 2 meetings in 2023, with attendance records showing 2/2 for Chairman Zhu Jia, Sun Hongbin, and Pan Zhaoguo, and 1/2 for Ma Lishan[80] - No share options or incentives were granted under any share option or incentive plans in 2023[80] - The ESG Committee held 1 meeting in 2023, with attendance records showing 1/1 for Chairman Wang Mengde, Pan Zhaoguo, Zhu Jia, and Yuan Zhigang, and 0/1 for Ma Lishan[83] - In 2023, 5 senior management members received annual remuneration between RMB 500,000-1,000,000, and 4 received between RMB 1,000,001-2,100,000[84] - Audit fees paid to the auditor in 2023 were RMB 17.84 million for audit services and RMB 160,000 for non-audit services[85] - Executive directors' total annual salary: RMB 11.161 million for the eight executive directors in 2023[145] - Non-executive directors' annual fee: HKD 400,000 per non-executive director[146] - Independent non-executive directors' total annual fee: HKD 1.7 million for four directors[146] - Top five highest-paid individuals (non-directors): Total compensation of RMB 18.572 million, including salary, bonuses, stock incentives, and benefits[147] - Compensation range for top five highest-paid individuals: Two individuals in the RMB 2,000,001–2,500,000 range, one in RMB 2,500,001–3,000,000, one in RMB 3,500,001–4,000,000, and one in RMB 7,000,001–7,500,000[148] Debt Restructuring and Financial Measures - The company successfully completed the restructuring of its offshore debt, reducing future debt repayment pressure by over USD 4.5 billion[13] - The company completed the restructuring of approximately $10.2 billion in existing debt through the issuance of new notes, convertible bonds, mandatory convertible bonds, and the transfer of certain existing shares of Sunac Services[141] - The company successfully completed its offshore debt restructuring in 2023, reducing debt by over $4.5 billion and alleviating repayment pressure for the next 2 years[88] - The company completed the extension of onshore public market debt in December 2022, with approximately RMB 630 million in principal and interest payments made in 2023[88] - The company successfully extended domestic loan principal from approximately RMB 18.17 billion (as of March 2023) to approximately RMB 37.28 billion (as of March 2024), representing a significant increase in loan extensions[89] - The company secured approximately RMB 13.5 billion in funding for high-quality projects, including Shanghai Dongjiadu, Shanghai Yalong, and Wuhan Taohuayuan, through cooperation with asset management companies[90] - Government-approved special loans for property delivery increased from RMB 11 billion (as of March 2023) to RMB 20.6 billion (as