Financial Performance - The company's revenue for the first half of 2023 was approximately RMB 226.31 billion, representing a year-on-year increase of 39.4%[23]. - The company reported a core net loss attributable to shareholders of approximately RMB 45.35 billion for the six months ended June 30, 2023[23]. - The group recorded a pre-tax loss of approximately RMB 46,148 million in the first half of 2023, compared to a pre-tax profit of approximately RMB 5,358 million in the same period of 2022[81]. - The net loss attributable to shareholders was RMB 48,932 million, compared to a profit of RMB 612 million in the previous year[161]. - The company reported a significant reduction in retained earnings, which fell to RMB 80,371 million from RMB 129,257 million[158]. - The company incurred a financial asset impairment loss of RMB 6,662 million, up from RMB 302 million in 2022[160]. - The company reported a gross loss of RMB 24,263 million compared to a gross profit of RMB 17,210 million in the same period last year[160]. - The company reported a net profit margin of 12% for the last fiscal year, with a target to increase it to 15% in the next year[52]. Sales and Market Performance - The company achieved a contract sales amount attributable to shareholders of approximately RMB 128.76 billion in the first half of 2023, reflecting a challenging sales performance due to weakened market expectations and soft demand[24]. - The overall market expansion strategy includes targeting emerging cities and regions with high growth potential[43]. - The company's contract sales in regions outside Guangdong accounted for 79% of total sales, indicating efforts in regional diversification[34]. - Approximately 63% of the contract sales were from third- and fourth-tier cities, while 25% came from second-tier cities, highlighting the company's focus on lower-tier markets[34]. - The group faced significant challenges in pre-sale performance, particularly since April 2023, with no signs of recovery as of the report date[172]. Project Development and Operations - The company has 3,134 projects at various development stages, with 3,103 located in mainland China[38]. - The total land reserve in mainland China amounted to approximately 171.0 million square meters, with 79% located outside Guangdong province[36]. - The company is focusing on expanding its market presence with multiple projects across various cities, including Xi'an, Ningbo, and Sanya[47]. - The company is committed to delivering properties to buyers on time, prioritizing the use of available funds for the construction of pre-sold properties[173]. - The company has ongoing projects with a total saleable area of 1,026,325 square meters expected to be completed in the fourth quarter of 2025[50]. Financial Position and Debt Management - As of June 30, 2023, the total interest-bearing debt decreased to RMB 257.91 billion, with a net debt ratio of 50.1%, maintaining a relatively low level in the industry[27]. - The net gearing ratio increased from approximately 40.0% as of December 31, 2022, to approximately 50.1% as of June 30, 2023[87]. - The group faced significant liquidity pressure and is implementing various plans to alleviate this pressure and improve financial conditions[93]. - The total amount of the group's priority notes, convertible bonds, corporate bonds, and bank and other borrowings was RMB 257,905 million, with RMB 108,703 million due within 12 months[106]. - The company is negotiating with bondholders to extend the maturity of certain domestic corporate bonds due within 12 months[173]. Technology and Innovation - The company is actively involved in the development of construction robots and modern agriculture to enhance operational efficiency and product quality[5][7]. - The company has established a technology construction group to promote smart construction systems[5]. - New product developments and technologies are being explored to enhance project offerings and customer satisfaction[43]. - The company is investing in new technology development, with a budget allocation of $200 million for innovative construction methods[55]. Corporate Social Responsibility - The company has contributed over RMB 10 billion in charitable donations and has assisted 490,000 people in poverty alleviation efforts[8]. - The company acknowledges the significant changes in the external environment since 2021 and is focused on addressing liquidity pressures while fulfilling its social responsibilities[27]. Shareholder Information - As of June 30, 2023, the total number of issued shares was 27,637,858,596 shares[122]. - Beston Limited holds 14,539,618,535 shares, representing 52.60% of the total issued shares[121]. - The total number of options available for grant under the share option plans as of June 30, 2023, is 2,048,830,798 shares[128]. - The company issued 350,649,350 shares at a subscription price of HKD 0.77 per share, totaling HKD 270 million, to offset a debt of HKD 318.78 million[142].

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分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。 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 碧 桂 園 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2007） 截至2023年6月30日止六個月 中期業績 財務摘要 • 截至2023年6月30日止六個月，本集團連同其合營企業及聯營公司，共實現 歸屬本公司股東權益的合同銷售金額約人民幣1,287.6億元，歸屬本公司股 東權益的合同銷售面積約1,646萬平方米。 • 期內，本集團權益合同銷售回款約為人民幣1,185.0億元，回款率達到92%。 • 期內，本集團實現總收入約為人民幣2,263.1億元，毛虧約為人民幣242.6億 元，本公司股東應佔核心淨虧損1約為人民幣453.5億元。 ...

[Cover and Financial Highlights](index=1&type=section&id=%E5%B0%81%E9%9D%A2%E4%B8%8E%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) [Financial Highlights](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) For the six months ended June 30, 2023, Country Garden's contracted sales significantly declined, total revenue increased, but the company recorded substantial gross loss and core net loss, with overall financial condition remaining severe Key Financial and Operational Indicators for H1 2023 | Indicator | Amount/Value | | :--- | :--- | | Contracted Sales Attributable to Shareholders' Equity | Approx. RMB 128.76 billion | | Equity Contracted Sales Collection Rate | 92% | | Total Revenue | Approx. RMB 226.31 billion | | Gross Loss | Approx. RMB 24.26 billion | | Core Net Loss Attributable to Shareholders | Approx. RMB 45.35 billion | | Marketing and Administrative Expenses as % of Total Revenue | Approx. 4.4% (down 1.1 percentage points YoY) | | Total Borrowings (Period-end) | Approx. RMB 257.91 billion (down 4.9% from year-end) | | Net Gearing Ratio (Period-end) | 50.1% | [Performance Review and Outlook](index=2&type=section&id=%E6%A5%AD%E7%B8%BE%E5%9B%9E%E9%A1%A7%E8%88%87%E5%B1%95%E6%9C%9B) Management acknowledged the severe challenges in the real estate sector during H1 2023, facing the greatest difficulties since the company's inception, leading to significant core net losses despite increased revenue, and pledged proactive self-rescue measures while maintaining confidence in China's economic outlook - In the first half, nearly **278,000 units** were delivered, ranking first in the industry, demonstrating the company's commitment to "ensuring project delivery"[4](index=4&type=chunk) H1 2023 Performance Overview | Indicator | 2023 H1 | | :--- | :--- | | Revenue | Approx. RMB 226.31 billion (up 39.4% YoY) | | Core Net Loss Attributable to Shareholders | Approx. RMB 45.35 billion | | Contracted Sales Attributable to Shareholders' Equity | Approx. RMB 128.76 billion | | Total Interest-bearing Debt Balance | RMB 257.91 billion | | Net Gearing Ratio | 50.1% | - Company management conducted a deep self-reflection, admitting insufficient understanding and ineffective mitigation of risks such as the depth of the market downturn and excessive investment in third and fourth-tier cities, which led to the current predicament[5](index=5&type=chunk) - The company proposed self-rescue measures including: implementing project delivery tasks, improving sales, revitalizing assets, cutting expenses, and adopting debt management measures to alleviate liquidity pressure[5](index=5&type=chunk) [Interim Condensed Consolidated Financial Statements](index=5&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the Group's unaudited interim financial statements as of June 30, 2023, including the consolidated statement of financial position, consolidated income statement, and consolidated statement of comprehensive income, comprehensively reflecting the Group's financial position and operating results for the first half [Interim Condensed Consolidated Statement of Financial Position](index=5&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2023, the Group's total assets were RMB 1.62 trillion, total liabilities were RMB 1.36 trillion, and total shareholders' equity decreased to RMB 254.37 billion, indicating financial pressure with reduced net current assets and total borrowings of approximately RMB 257.91 billion Key Balance Sheet Items (As of June 30, 2023) | Item | June 30, 2023 (RMB million) | December 31, 2022 (RMB million) | | :--- | :--- | :--- | | Total Assets | 1,618,529 | 1,744,467 | | Total Liabilities | 1,364,160 | 1,434,894 | | Total Equity | 254,369 | 309,573 | | Cash and Cash Equivalents | 101,115 | 128,281 | | Total Borrowings | 257,905 | 271,307 | [Interim Condensed Consolidated Income Statement](index=7&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%88%A9%E6%BD%A4%E8%A1%A8) In H1 2023, Group revenue increased by 39.4% to RMB 226.31 billion, but due to a significant increase in cost of sales and asset impairments, a gross loss of RMB 24.26 billion was recorded, resulting in a net loss attributable to company shareholders of RMB 48.93 billion, compared to a profit of RMB 612 million in the prior period, with basic loss per share at RMB 1.79 Key Income Statement Items (For the six months ended June 30, 2023) | Item | 2023 H1 (RMB million) | 2022 H1 (RMB million) | | :--- | :--- | :--- | | Revenue | 226,309 | 162,363 | | (Gross Loss)/Gross Profit | (24,263) | 17,210 | | Operating (Loss)/Profit | (45,213) | 7,044 | | (Loss)/Profit for the Period | (51,461) | 1,907 | | (Loss)/Profit Attributable to Company Shareholders | (48,932) | 612 | | Basic (Loss)/Earnings Per Share (RMB) | (1.79) | 0.03 | [Interim Condensed Consolidated Statement of Comprehensive Income](index=8&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) Building on a net loss of RMB 51.46 billion, and after accounting for other comprehensive losses, the Group's total comprehensive loss for H1 2023 was RMB 51.85 billion, with RMB 49.35 billion attributable to company shareholders Summary of Comprehensive Income Statement (For the six months ended June 30, 2023) | Item | 2023 H1 (RMB million) | 2022 H1 (RMB million) | | :--- | :--- | :--- | | (Loss)/Profit for the Period | (51,461) | 1,907 | | Other Comprehensive Loss for the Period | (393) | (3) | | Total Comprehensive (Loss)/Income for the Period | (51,854) | 1,904 | | Total Comprehensive (Loss)/Income Attributable to Company Shareholders | (49,350) | 610 | [Notes to the Interim Financial Information](index=9&type=section&id=%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E9%99%84%E6%B3%A8) This section details the basis of preparation for the interim financial statements, significant accounting policies, and specifics of various accounts, with Note 1.1 "Going Concern Basis" being central, disclosing the company's liquidity pressure, debt situation, and significant uncertainties that may cast substantial doubt on its ability to continue as a going concern, along with management's crisis response plans and measures [Note 1.1: Going Concern Basis](index=9&type=section&id=1.1%20%E6%8C%81%E7%BA%8C%E7%B6%93%E7%87%9F%E5%9F%BA%E7%A4%8E) This note reveals significant doubts about the Group's ability to continue as a going concern, with substantial net losses, RMB 108.7 billion in debt maturing within 12 months against only RMB 101.1 billion in cash, and a failure to pay interest on some senior notes, despite management's seven response plans whose successful implementation is subject to significant uncertainties - Explicitly states the existence of significant uncertainties that may cast substantial doubt on the Group's ability to continue as a going concern[12](index=12&type=chunk) Liquidity Pressure Status (As of June 30, 2023) | Item | Amount (RMB million) | | :--- | :--- | | Debt Maturing within 12 Months | 108,703 | | Cash and Cash Equivalents | 101,115 | | Restricted Cash | 29,454 | - Management has formulated seven key measures to maintain going concern, including debt management, securing financing, accelerating sales, controlling construction payments, monitoring financial covenants, revitalizing assets, and cutting expenses[13](index=13&type=chunk)[14](index=14&type=chunk) - Subsequent to the reporting period, the company failed to pay interest on certain senior notes due in August 2023, which, despite being within the 30-day grace period, exacerbates default risk[12](index=12&type=chunk) [Note 4: Revenue and Segment Information](index=13&type=section&id=4%20%E6%94%B6%E5%85%A5%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's operations are divided into two reportable segments: property development and technology construction, with total revenue in H1 2023 at RMB 226.31 billion, where property development revenue at RMB 220.8 billion held an absolute dominant position and showed significant year-on-year growth, while technology construction revenue at RMB 3.27 billion experienced a year-on-year decrease Segment Revenue (For the six months ended June 30, 2023) | Segment | Revenue (RMB million) | YoY Change | | :--- | :--- | :--- | | Property Development | 220,803 | +41.2% | | Technology Construction | 3,272 | -6.7% | | Other | 2,234 | -10.0% | | **Total** | **226,309** | **+39.4%** | [Notes 8-10: Debt Instruments (Senior Notes, Corporate Bonds, Convertible Bonds)](index=20&type=section&id=8-10%20%E5%82%B5%E5%8B%99%E5%B7%A5%E5%85%B7) As of June 30, 2023, the Group's outstanding senior notes, corporate bonds, and convertible bonds were RMB 68.68 billion, RMB 26.94 billion, and RMB 6.10 billion, respectively, with some debt repaid through maturity and repurchases, and approximately RMB 1.89 billion in new corporate bonds issued during the period Balances of Various Debt Instruments (As of June 30, 2023) | Debt Type | Balance (RMB million) | Due within 1 year (RMB million) | | :--- | :--- | :--- | | Senior Notes | 68,682 | 11,490 | | Corporate Bonds | 26,944 | 21,590 | | Convertible Bonds | 6,103 | 6,103 | [Note 18: Events After the Reporting Period](index=27&type=section&id=18%20%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E7%99%BC%E7%94%9F%E7%9A%84%E4%BA%8B%E9%A0%85) Subsequent to the reporting period, the Group undertook several significant measures to address the liquidity crisis, including securing approximately RMB 6.06 billion in 30-month dual-currency term loan refinancing, negotiating extensions for domestic corporate bonds, failing to pay interest on some senior notes due in August, and selling a 26.67% equity stake in an associate for approximately RMB 1.29 billion, having received about RMB 700 million in cash - Successfully secured approximately **RMB 6.06 billion** in 30-month dual-currency term loan refinancing, providing support for short-term liquidity relief[46](index=46&type=chunk) - Failure to pay interest on some senior notes due in August indicates that liquidity pressure has transformed into substantive default risk[46](index=46&type=chunk) - The sale of an associate's equity stake generated approximately **RMB 700 million** in cash, demonstrating the company's active asset disposal to supplement liquidity[46](index=46&type=chunk) [Management Discussion and Analysis](index=28&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) Management provided an in-depth analysis of H1 2023 financial performance, liquidity, key risks, and business outlook, highlighting significant losses due to market downturns and asset impairments despite increased revenue, and reaffirmed commitment to ensuring deliveries, revitalizing assets, strict cost control, and exploring new business models to navigate current difficulties [Financial Review](index=28&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) In H1 2023, total revenue increased by 39.4% to RMB 226.31 billion, primarily driven by property development, but significant asset impairments and net exchange losses led to a pre-tax loss of RMB 46.15 billion and a core net loss attributable to shareholders of RMB 45.35 billion - The three main reasons for the substantial loss were: 1. Net impairment provisions of approximately **RMB 40.34 billion** for properties under development and completed properties held for sale 2. Net impairment losses of approximately **RMB 6.66 billion** for financial and contract assets 3. Net exchange losses of approximately **RMB 3.04 billion** due to foreign exchange fluctuations[53](index=53&type=chunk) [Liquidity, Financial and Capital Resources](index=30&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E6%BA%90) As of June 30, 2023, the Group's total cash balance decreased to RMB 130.57 billion, with unrestricted cash and equivalents at RMB 101.12 billion, while total borrowings decreased to RMB 257.91 billion, but the net gearing ratio climbed to 50.1% due to a significant reduction in total equity Key Financial Position Indicators | Indicator | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Cash Balance (RMB million) | 130,569 | 147,550 | | Total Borrowings (RMB million) | 257,905 | 271,307 | | Net Gearing Ratio | 50.1% | 40.0% | [Principal Risks and Uncertainties](index=31&type=section&id=%E4%B8%BB%E8%A6%81%E9%A2%A8%E9%9A%AA%E5%8F%8A%E4%B8%8D%E6%98%8E%E6%9C%97%E5%9B%A0%E7%B4%A0) The Group faces primary risks including: systemic risk from the prolonged downturn in mainland China's real estate market; interest rate risk from predominantly floating-rate bank borrowings; foreign exchange risk from outstanding foreign currency borrowings; and the most severe current phased liquidity risk, with plans to address liquidity pressure disclosed in Note 1 - The company explicitly faces four major risks: real estate market risk, interest rate risk, foreign exchange risk, and liquidity risk[57](index=57&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk)[60](index=60&type=chunk) - Liquidity risk is currently the most critical risk, with the company facing phased liquidity pressure[60](index=60&type=chunk) [Business Development Outlook](index=33&type=section&id=%E6%A5%AD%E5%8B%99%E7%99%BC%E5%B1%95%E5%B1%95%E6%9C%9B) Looking ahead, the Group acknowledges unprecedented liquidity pressure, with the core task of ensuring cash flow safety through asset revitalization, expense reduction, and debt management, while strategically advancing a new "One Body, Two Wings" strategy to explore new real estate development models and overcome the current predicament - The core task for the future is to ensure cash flow safety, addressing liquidity pressure through asset revitalization, expense reduction, and debt management[64](index=64&type=chunk) - Proposed a new "One Body, Two Wings" strategy, simultaneously strengthening the core property business while vigorously expanding new businesses like entrusted management and construction technology, exploring new development models[64](index=64&type=chunk) [Other Information](index=34&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) This section covers corporate governance information, including the audit committee's review, the independent auditor's "Emphasis of Matter" paragraph on the going concern assumption, compliance with corporate governance codes, details of employee incentive schemes, and capital operations such as convertible bonds and share repurchases, with the Board resolving not to declare an interim dividend for 2023 [Extracts from Independent Auditor's Review Report](index=34&type=section&id=%E7%8D%A8%E7%AB%8B%E6%A0%B8%E6%95%B8%E5%B8%AB%E5%B0%8D%E6%9C%AA%E7%B6%93%E5%AF%A9%E8%A8%88%E7%9A%84%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E7%9A%84%E5%AF%A9%E9%96%B1%E5%A0%B1%E5%91%8A%E6%91%98%E9%8C%84) Independent auditor PricewaterhouseCoopers issued an unmodified review report, but included an "Emphasis of Matter" paragraph specifically drawing users' attention to the company's substantial losses, significant debt maturing soon, declining pre-sale performance, failure to pay interest on some notes, and potential financial covenant default risks, which collectively indicate material uncertainties that may cast significant doubt on the Group's ability to continue as a going concern - The auditor issued an unmodified opinion but included an "Emphasis of Matter" paragraph[67](index=67&type=chunk) - The core content of the "Emphasis of Matter" is to highlight significant uncertainties that may cast substantial doubt on the Group's ability to continue as a going concern[69](index=69&type=chunk) [Interim Dividend](index=40&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) Considering the Group's current financial condition and liquidity pressure, the Board has resolved not to declare an interim dividend for the six months ended June 30, 2023, consistent with the policy for the same period in 2022 - The Board resolved not to declare an interim dividend for 2023 (2022 interim dividend: nil)[81](index=81&type=chunk)

GARDEN 碧桂園 给 您 一 个 五 星 级 的 家 2022年度報告 Country Garden Holdings Company Limited Country Garden Holdings Company Limited 控股有限公司 2022年度報告 股份代號： 2007 （於開曼群島註冊成立的有限公司） 設計理念 隨著疫情過去，中國經濟迅 速重回發展軌道，2023年是 一個重要趨勢，重回增長軌 道的路徑與機遇，展翅高 飛。年報透過採用富有科技 感的線條，勾畫出鳳凰展翅 的一刻，鳳凰循序漸進、有 方向地前進，寓意碧桂園確 立目標堅定不移。 碧桂園是什麼 碧桂園是為社會創造幸福生活的高科技綜合性企業。 我們積極投身機器人產業和科技建造事業 科技發展日新月異，機器人時代已經到來。我們投身科技創新大潮，廣納人才、博採 眾長，集超30萬名員工的智慧，用科技的力量為社會創造美好生活，助力國家科技進 步和高質量發展。 我們成立博智林機器人公司，研發應用建築機器人，提升施工智能化水平，並同步推 進餐飲、醫療、農業、社區服務等各類機器人的研發、製造與應用。 我們組建科技建築集團，打造由建築機器人、新型裝配式、 ...

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。 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 碧桂園控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2007） 截至2022年12月31日止年度 全年業績 財務摘要 • 截至2022年12月31日止年度，本集團連同其合營企業及聯營公司，共實現歸屬本 公司股東權益的合同銷售金額約人民幣3,574.7億元，歸屬本公司股東權益的合同 銷售面積約4,450萬平方米。 • 於2022年，本集團權益合同銷售回款約為人民幣3,324.8億元，回款率達到93%。 • 年內，本集團實現總收入約為人民幣4,303.7億元，毛利約為人民幣328.8億元，本 公司股東應佔核心淨利潤1約為人民幣26.1億元。 • 年內，本集團營銷及市場推廣成本和行政費用約為人民幣197.4億元，同比下降 31.6%。 • 於2022年12月31日，本集團共有可動用現金2餘額約人民幣1,475.5億元 ...

Company Overview - Country Garden ranked 138th on the Fortune Global 500 list in August 2022[9]. - The company has contributed over 10 billion RMB in charitable donations since its establishment[5]. - Country Garden has helped 490,000 people escape poverty through targeted poverty alleviation efforts[5]. - The company operates in all provinces and municipalities in mainland China, expanding its property development projects[9]. - Country Garden employs over 200,000 staff, including more than 1,000 PhDs, to drive technological innovation[5]. - The company has established multiple subsidiaries focused on robotics and modern agriculture to enhance production efficiency[5]. - Country Garden aims to strengthen its community resource integration platform to enhance asset value across its lifecycle[9]. Technological Innovation - The company has developed a smart construction system centered on robotics and BIM technology to revolutionize the construction industry[5]. - The company has developed 30 types of construction robots, with over 1,200 units delivered and an application area exceeding 10 million square meters by the end of July 2022[24]. - The establishment of a technology construction group aims to drive the industrialization, digitalization, and intelligent upgrading of the traditional construction industry[68]. - The group plans to leverage artificial intelligence to address the aging workforce in the construction industry and meet consumer demands for sustainable environments[69]. Financial Performance - The company’s revenue for the first half of 2022 was approximately RMB 162.36 billion, with a net profit of about RMB 1.91 billion and a core net profit attributable to shareholders of approximately RMB 4.91 billion[24]. - The total revenue for the first half of 2022 was RMB 162,363 million, a decrease of about 30.9% compared to RMB 234,930 million in the same period of 2021[62]. - Revenue from property sales accounted for 96.3% of total revenue, while construction and other segments contributed 3.7%[62]. - The net profit attributable to shareholders was RMB 612 million, a significant drop of 95.9% compared to RMB 14,996 million in the first half of 2021[108]. - The company reported a basic earnings per share of RMB 0.03, down from RMB 0.69 in the same period of 2021[108]. Project Development - The company delivered 250,000 units of housing in 1,070 batches during the first half of 2022, ensuring timely delivery and fulfilling social responsibilities[24]. - The company acquired 9 new projects with an equity land price of approximately RMB 6.1 billion, focusing on cities with favorable supply-demand relationships[24]. - The company has ongoing projects with expected completion dates extending into 2028, indicating a long-term development strategy[42]. - The company is actively pursuing new projects and expansions, as evidenced by the number of projects in various stages of development across multiple provinces[39]. Market Strategy - The company’s investment strategy remains cautious, focusing on acquiring land in cities with strong certainty, with a total of approximately RMB 1.2161 trillion in sellable resources[24]. - The company is focused on enhancing its market position through strategic land acquisitions and project developments in key regions of China[33]. - The overall strategy includes expanding into new markets and enhancing product offerings through innovative developments[44]. Financial Management - The company continues to implement strategies to enhance market penetration in various regions to reduce reliance on specific markets[64]. - The company has adopted foreign currency hedging tools to better manage foreign exchange risks, aiming to minimize the volatility of RMB expenditures for future foreign currency debt repayments[64]. - The company monitors interest rate changes closely and executes interest rate management strategies when favorable opportunities arise[64]. - The company aims to seek new debt financing and bank loans at acceptable costs to repay existing debts and fund future operations and capital expenditures[119]. Shareholder Information - As of June 30, 2022, the total number of issued shares was 23,155,402,514, with 61.23% held by Bestwin Limited, owned by Yang Huiyan[86]. - Yang Huiyan holds 14,179,076,995 shares, representing 61.23% of the total issued shares[82]. - China Ping An Insurance (Group) Company holds 1,797,751,000 shares, accounting for 7.76% of the total issued shares[86]. Risk Management - The company’s overall risk management plan focuses on minimizing potential adverse impacts on financial performance due to market unpredictability[125]. - The company had no significant changes in risk management policies during the reporting period[125]. - The company provided guarantees for certain liabilities of joint ventures and associates amounting to approximately RMB 34,701 million as of June 30, 2022, down from RMB 43,221 million as of December 31, 2021[65]. Employee Management - The group employed approximately 78,533 full-time employees as of June 30, 2022[66]. - The group has implemented a "shared partnership" system to align employee interests with the company's, enhancing operational cost control and profit margins[66]. Corporate Governance - The board of directors includes seven executive directors and five independent non-executive directors, ensuring strong governance[71][72]. - Adjustments to director remuneration were made, with significant reductions in annual salaries for several directors, effective September 7, 2022[78]. Future Outlook - The company expects to continue its market expansion and product development strategies in the upcoming quarters[179]. - The company plans to continue measures to ensure the speed of property pre-sales and sales, safeguarding sales revenue and other receivables[119].

Corporate Social Responsibility - Country Garden has contributed to the modernization of over 1,400 towns and has provided housing for more than 4.5 million homeowners[7]. - The company has participated in social charity donations exceeding 10 billion RMB and has helped 490,000 people escape poverty[9]. - Country Garden's annual tax contribution exceeds 60 billion RMB[9]. - The company aims to create affordable housing and contribute to the happiness of society as a high-tech comprehensive enterprise[28]. - Yang Huiyan has received multiple awards for her contributions to charity and poverty alleviation, highlighting the company's commitment to social responsibility[88]. Financial Performance - The company's revenue for the year was approximately RMB 523.1 billion, with a net profit of approximately RMB 40.98 billion, and core net profit attributable to shareholders was about RMB 26.93 billion[31]. - The company reported a revenue of RMB 523.1 billion in 2021, an increase from RMB 462.9 billion in 2020, representing a growth of approximately 13.5%[63]. - The attributable profit to shareholders was RMB 26.8 billion in 2021, down from RMB 35.0 billion in 2020, indicating a decline of about 23.1%[63]. - The company’s basic earnings per share for 2021 was RMB 1.22, compared to RMB 1.62 in 2020[61]. - The total attributable profit for the year 2021 was RMB 40.982 billion, reflecting a decrease from RMB 54.118 billion in 2020[61]. Market Expansion and Strategy - The company aims to strengthen its real estate industry chain through financial means and enhance community resource integration[14]. - The company remains optimistic about the long-term growth of the national economy and the real estate market's return to a healthy cycle[31]. - The company is focusing on expanding its market presence in second and third-tier cities, which represent a strategic growth area[39]. - The company is actively pursuing new strategies for market expansion and product development to enhance its competitive position[48]. - The company plans to increase its overseas investment by 40% over the next three years[100]. Project Development and Sales - In 2021, the company achieved a contract sales amount of approximately RMB 558 billion, with 68% of sales contributions coming from third- and fourth-tier cities[31]. - The total sell-through rate for the year reached 67%, while the equity collection amount was approximately RMB 502.2 billion, maintaining a collection rate of over 90% for six consecutive years[31]. - The company has signed or acquired a total of 3,216 projects in mainland China, covering all 31 provinces, autonomous regions, and municipalities[31]. - The company has a significant project in Huizhou with a total saleable area of 475,020 square meters, of which 293,189 square meters have been completed and sold[51]. - The company has ongoing projects with a total saleable area of 1,107,282 square meters, of which 799,772 square meters are pre-sold and awaiting delivery[49]. Technological Innovation - Country Garden has established a robotics company focusing on construction robots and smart building systems[6]. - The company has commercialized 18 types of construction robots, covering over 350 projects across 25 provinces, with a cumulative application area exceeding 7 million square meters[33]. - The group incurred research and development expenses of approximately RMB 3.308 billion in 2021, focusing on smart construction and diversified investment portfolios[83]. - Investment in new technology development has increased by 30%, focusing on sustainable building solutions[100]. - A new partnership with a leading tech firm aims to integrate smart home technologies into future developments[100]. Governance and Management - The company has a strong governance structure with various committees overseeing environmental, social, and governance (ESG) initiatives[88]. - The board of directors consists of 7 executive directors and 6 independent non-executive directors as of December 31, 2021[113]. - The company emphasizes a culture of open discussion, particularly encouraging contributions from non-executive and independent non-executive directors[129]. - The company has adopted a strategic management mechanism to identify and assess potential opportunities and challenges, formulating long-term development strategies and action plans[112]. - The company has implemented procedures for handling and disclosing inside information, ensuring compliance with disclosure regulations[156]. Debt and Financial Management - As of December 31, 2021, the group had cash and cash equivalents totaling approximately RMB 181.3 billion, with interest-bearing debt reduced to RMB 317.9 billion and a net debt ratio of 45.4%, optimized by 10.2 percentage points compared to the previous year[32]. - The company redeemed priority notes with a total face value of USD 1,226 million during the year, replacing high-cost financing with lower-cost options[75]. - The net gearing ratio improved from approximately 55.6% on December 31, 2020, to approximately 45.4% on December 31, 2021[76]. - The company raised approximately RMB 18,899 million from newly issued corporate bonds, which will be used for refinancing existing debts and general working capital[177]. - The company has a formal and transparent compensation policy for directors and senior management, which is reviewed annually by the Compensation Committee[138]. Environmental and Sustainable Development - The company aims to integrate sustainable development concepts into its operations, responding to the national "dual carbon" strategy[34]. - The company is focused on sustainable development and optimizing its operational structure to enhance efficiency[93]. - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by 30% over the next five years[108]. - The company is committed to supporting the construction of affordable housing projects in response to national calls[83]. - The company has established a systematic information disclosure and communication platform to enhance transparency and governance[164].

Financial Performance - Country Garden Holdings achieved a tax payment of RMB 65.3 billion in 2020, highlighting its significant contribution to the economy[7]. - The company reported revenue of approximately RMB 234.93 billion and a net profit of approximately RMB 22.42 billion for the same period, with core net profit attributable to shareholders of approximately RMB 15.22 billion[28]. - The company reported a year-on-year increase in user data, with a 15% growth in customer inquiries and engagement[56]. - The company reported a significant increase in the fair value of financial assets, with level 3 financial instruments rising from RMB 4.61 billion at the beginning of the year to RMB 9.08 billion by June 30, 2021[155]. - The company reported a net loss from financial assets and contract assets impairment of RMB 551 million for the six months ended June 30, 2021, compared to RMB 854 million in the previous year[164]. - The company reported a profit of RMB 14,132 million for the period, compared to a profit of RMB 14,132 million in the previous year, indicating stable performance[194]. - The company’s financial assets at fair value through profit or loss showed a significant change with a gain of RMB 1,091 million in 2021, compared to a loss of RMB 136 million in 2020[195]. Social Responsibility and Community Engagement - The company has participated in poverty alleviation and rural revitalization efforts, helping 490,000 people escape poverty[7]. - Country Garden has invested over RMB 9 billion in social charity since its inception, demonstrating its commitment to social responsibility[7]. - Cumulative public welfare donations by the company have exceeded RMB 9 billion, assisting 490,000 people in poverty alleviation across 16 provinces and 57 counties[33]. Market Position and Growth Strategy - Country Garden ranked 139th on the Fortune Global 500 list in August 2021, reflecting its strong market position[14]. - The company aims to enhance its real estate business through financial integration and community resource platforms, focusing on a full lifecycle industry chain[14]. - The company is focused on expanding its market presence and enhancing its project portfolio through strategic land acquisitions and development initiatives[40]. - The company is committed to improving operational efficiency, aiming for a 10% reduction in construction costs through innovative technologies[56]. - The company plans to expand its market reach through strategic partnerships and acquisitions in the coming years[60]. Project Development and Construction - The company has a total of 3,157 projects at various development stages, with 3,127 located in mainland China and 30 outside of mainland China[47]. - The company has a significant number of projects under construction, with a total saleable area of 2,168,426 square meters in "Lanzhou Country Garden" expected to be completed by Q4 2025[48]. - The company has ongoing projects with a total saleable area of 1,997,775 square meters in "Shanhu City," with 1,632,608 square meters completed and delivered[48]. - The company is implementing a smart construction system integrating construction robots, BIM technology, and new prefabricated buildings to improve safety, quality, and efficiency in construction[31]. - The company is actively pursuing new technology developments to enhance project efficiency and customer satisfaction[60]. Financial Health and Debt Management - The company maintained a cash balance of approximately RMB 186.24 billion as of June 30, 2021, with total borrowings reduced to RMB 324.24 billion and a net gearing ratio of 49.7%, down 5.9 percentage points from the end of the previous year[28]. - The net debt ratio improved from approximately 55.6% on December 31, 2020, to approximately 49.7% on June 30, 2021[83]. - The company raised RMB 69,622 million from bank and other borrowings, compared to RMB 59,191 million in the previous year[140]. - The total amount of bank and other borrowings was RMB 227.25 billion, with RMB 75.33 billion due within one year[150]. - The company’s non-current liabilities included RMB 71,017 million in priority notes as of June 30, 2021, up from RMB 63,153 million as of December 31, 2020[183]. Sustainability and Innovation - The company emphasizes sustainable development, having published sustainability reports for 12 consecutive years to disclose its vision, strategies, and practices in this area[33]. - The company is committed to sustainable development practices in its construction projects, aligning with market trends[60]. - The company is exploring opportunities for mergers and acquisitions to strengthen its market position and diversify its portfolio[66]. - The company aims to strengthen competitive advantages by leveraging brand recognition and customer reputation while ensuring quality and safety in construction[94]. Shareholder Information and Governance - The board of directors consists of experienced members, including the chairman and co-chairman, ensuring strong governance and accountability[97]. - The largest shareholder, Bestwin Limited, holds 13,250,074,919 shares, representing 60.09% of the total issued shares[104]. - The company has not received any notifications from other individuals regarding holdings of 5% or more as of June 30, 2021[104]. - The company has issued a total of 696,666,627 call options, with the adjusted strike price at HKD 15.36 per option[117].

Financial Performance - Country Garden reported a revenue of approximately 122.979 billion RMB for the fiscal year 2020, reflecting a year-on-year increase of 10%[56]. - The company's revenue for the year was approximately RMB 462.86 billion, with a gross profit of approximately RMB 100.91 billion and a net profit of approximately RMB 54.12 billion[62]. - The company's revenue for 2020 was approximately RMB 462,856 million, a decrease of about 4.7% from RMB 485,908 million in 2019[135]. - Revenue from real estate development in 2020 decreased by 5.4% to approximately RMB 449,341 million, compared to RMB 475,012 million in 2019[135]. - Construction revenue increased by 41.2% to approximately RMB 8,779 million in 2020, up from RMB 6,219 million in 2019[137]. - The average selling price of delivered properties in 2020 was approximately RMB 7,980 per square meter, down from RMB 8,407 per square meter in 2019[135]. - Profit attributable to shareholders decreased by 11.4% from approximately RMB 39,550 million in 2019 to approximately RMB 35,022 million in 2020[138]. - Core net profit attributable to shareholders reached approximately RMB 32,362 million in 2020, a decline of 19.3% from approximately RMB 40,124 million in 2019[138]. Market Presence and Expansion - The company continues to expand its market presence across all provinces and municipalities in China, enhancing its development projects[21]. - Future outlook includes a focus on expanding its market presence and exploring potential mergers and acquisitions to drive growth[56]. - Country Garden is actively pursuing market expansion strategies, particularly in the Greater Bay Area, to enhance its competitive position[175]. - The company is focusing on expanding its footprint in various regions, including significant projects in cities like Wuxi and Yancheng[107]. - The company plans to expand its market presence by launching new projects in emerging cities, targeting an increase in market share by 15% over the next two years[118]. Social Responsibility and Community Engagement - Country Garden is committed to social responsibility, having donated over RMB 8.7 billion to charitable causes since its inception[10]. - The company has participated in poverty alleviation efforts, helping 490,000 people escape poverty through its initiatives[10]. - The company has established a dedicated poverty alleviation team of nearly 200 members, expanding its support to 57 counties across 16 provinces[60]. - The company plans to continue participating in rural revitalization through commercial initiatives, enhancing farmers' productivity and income[60]. - The company emphasizes a commitment to social responsibility, aiming to improve societal well-being through its operations[41]. Governance and Leadership - The board of directors includes key figures such as Yang Guoqiang (Chairman) and Mo Bin (President), ensuring strong leadership[51]. - The company has established a robust governance structure with various committees to oversee financial and operational integrity[52]. - The company has a strong focus on corporate governance, with multiple committees overseeing different aspects of its operations[159]. - The board consists of 7 executive directors, 1 non-executive director, and 5 independent non-executive directors as of December 31, 2020[188]. - The company has maintained compliance with the corporate governance code, with no violations reported in 2020[186]. Technological Innovation and Development - Country Garden has established a robotics division, focusing on the development of construction robots and smart building technologies[6]. - The company is actively involved in modern agriculture, utilizing advanced unmanned equipment to improve agricultural productivity and quality[9]. - The company aims to enhance its market position through the development of high-tech integrated products in real estate, robotics, and modern agriculture[49]. - The company has submitted 2,997 patent applications, with 956 granted, focusing on construction robots and digital technology[69]. - Ongoing research and development efforts are aimed at integrating advanced technologies into new projects, enhancing operational efficiency[175]. Project Development and Sales Performance - The company achieved a contract sales amount of approximately RMB 570.66 billion for the year ended December 31, 2020[62]. - The compound annual growth rate (CAGR) of attributable contract sales from 2016 to 2020 was 25%[74]. - In 2020, 81% of the attributable contract sales came from regions outside Guangdong Province, indicating successful regional diversification efforts[73]. - The distribution of contract sales by city type showed that 54% were from third and fourth-tier cities, 32% from second-tier cities, and 14% from first-tier cities[76]. - The company is actively expanding its market presence with multiple projects across various cities, indicating a robust growth strategy[101]. Financial Health and Debt Management - The net debt ratio for 2020 was 55.6%, compared to 46.3% in 2019[127]. - The group provided guarantees for mortgage loans amounting to approximately RMB 381,302 million as of December 31, 2020, compared to approximately RMB 348,154 million as of December 31, 2019[145]. - The group had bank and other borrowings of approximately RMB 207,323 million as of December 31, 2020, down from approximately RMB 252,793 million as of December 31, 2019[142]. - The company aims to reduce reliance on specific markets by enhancing penetration in different regional markets[143]. - The company is committed to maintaining a prudent financial policy and risk control measures to ensure quality construction and operational cash flow[149].

Financial Performance - Total revenue for the period reached approximately RMB 184.96 billion, with a gross profit of about RMB 44.89 billion[18]. - Core net profit attributable to shareholders was approximately RMB 14.61 billion[18]. - The total revenue for the first half of 2020 was approximately RMB 184,957 million, a decrease of about 8.4% compared to RMB 202,006 million in the same period of 2019[73]. - Revenue from real estate development decreased by 8.5% to approximately RMB 179,949 million, down from RMB 196,678 million in the same period of 2019[73]. - The average sales price of delivered properties was approximately RMB 8,116 per square meter, a decline from RMB 8,987 per square meter in the same period of 2019[73]. - The core net profit attributable to shareholders was approximately RMB 14,607 million, an 8.6% decrease from RMB 15,979 million in the same period of 2019[74]. - The company reported a profit of RMB 14,132 million for the six months ended June 30, 2020, compared to RMB 15,635 million for the same period in 2019, reflecting a decrease of approximately 9.6%[121]. - The company reported a basic earnings per share of RMB 0.66, compared to RMB 0.73 for the same period last year[118]. Operational Highlights - The company operates in 31 provinces/regions/municipalities, covering 288 prefecture-level cities and 1,334 counties/towns[19]. - The company ranked 147th on the Fortune Global 500 list, improving by 30 positions from the previous year[19]. - The group achieved equity contract sales of approximately RMB 266.95 billion in the first half of 2020, with a compound annual growth rate of 33.0% from 2016 to 2019[27]. - In the first half of 2020, 81% of the group's equity contract sales came from regions outside Guangdong Province, reflecting efforts in regional diversification[27]. - The group owns a total of 2,689 projects at various development stages, with 2,662 located in mainland China[36]. Financial Position - As of June 30, 2020, the group had cash and bank deposits of approximately RMB 205.52 billion, with an unused bank credit line of approximately RMB 328.81 billion[21]. - Total borrowings decreased to approximately RMB 342.04 billion, a 7.5% decline compared to the end of the previous year, with a weighted average borrowing cost reduction of 49 basis points[21]. - The group's net current assets were approximately RMB 252,597 million as of June 30, 2020, compared to RMB 232,765 million as of December 31, 2019[75]. - The net debt-to-equity ratio increased from approximately 46.3% as of December 31, 2019, to approximately 58.1% as of June 30, 2020[76]. - The company’s total liabilities as of June 30, 2020, were RMB 1,728,273 million, up from RMB 1,688,544 million as of December 31, 2019, representing an increase of about 2.4%[142]. Market and Strategic Initiatives - The company is actively involved in the robotics industry, developing practical and affordable high-tech products[5]. - The company aims to strengthen or integrate community-related businesses through financial means, enhancing the real estate industry chain[11]. - The company plans to flexibly adjust its operations based on market conditions while strictly controlling costs and expenses to enhance overall competitiveness[83]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[200]. - Market expansion plans include entering three new countries by the end of 2024, targeting a potential market of 10 million users[200]. Social Responsibility - The company has participated in social charity donations totaling over RMB 6.7 billion, assisting 337,000 rural poor to escape poverty[5]. - The group has participated in poverty alleviation efforts, helping 337,000 rural poor populations to escape poverty[25]. - The group has established a cumulative charitable donation of over RMB 6.7 billion, including a fund of RMB 200 million for COVID-19 relief efforts[25]. Project Development - As of June 30, 2020, the group has signed or acquired land with a total buildable area of approximately 26.58 million square meters in mainland China, with 80% located outside Guangdong Province[32]. - The land reserves are distributed by city type, with approximately 55% in third and fourth-tier cities, 33% in second-tier cities, and the remaining 12% in other areas[32]. - The company is committed to maintaining a robust pipeline of projects to support future revenue growth and market expansion[36]. - The company plans to expand its market presence with new projects in various regions, including Lanzhou and Wenzhou[46]. Shareholder Information - As of June 30, 2020, the total number of issued shares was 21,873,074,541, with 12,600,868,919 shares (57.60%) held by Bishi Limited, which is wholly owned by Yang Huiyan[98]. - The company declared an interim dividend of RMB 0.2055 per share, totaling RMB 4,528 million, compared to RMB 4,953 million for the interim dividend of RMB 0.2287 per share in 2019, representing a decrease of 8.6%[182]. - The company has a total of 591,000,000 USD in convertible bonds held by Li Guo Group Limited, which is wholly owned by Yang Guoqiang[94]. Future Outlook - The company provided an optimistic outlook for Q4 2023, projecting revenue growth of 15% to 20%[200]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[200]. - The company aims to improve operational efficiency, targeting a 10% reduction in costs by Q1 2024[200].