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港股房地产股多数走强 富力地产涨10%
Cai Lian She· 2024-11-14 01:25AI Processing
港股房地产股多数走强 富力地产涨10% 财联社11月14日电,截至发稿,富力地产(02777.HK)涨10%、融 创中国(01918.HK)涨5.63%、世茂集团(00813.HK)涨5.38%。 消息方面,11月13日,财政部等三部门发布《关于促进房地产市场平稳健康发展有关税收政策的公 告》,加大住房交易环节契税优惠力度,明确与取消普通住宅和非普通住宅标准相衔接的增值税、土地 增值税优惠政策。 ...
富力地产(02777) - 海外监管公告
2024-11-08 08:30
- 廣州富力地產股份有限公司關於訴訟和仲裁案件進展的公告 為遵守上市規則第 13.10B 條,該等上載資料亦刊登於香港聯合交易所有限公司「披露易」 網站(https://www.hkexnews.hk)。 承董事會命 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。 (於中華人民共和國註冊成立的股份有限公司) (股份代號:2777) 海外監管公告 本海外監管公告乃根據香港聯合交易所有限公司證券上市規則(「上市規則」)第13.10B條 刊發。 以下有關廣州富力地產股份有限公司(「本公司」)的相關文件已經上載於上海證券交易所 的網站(http://www.sse.com.cn): 关于诉讼和仲裁案件进展的公告 本公司全体董事或具有同等职责的人员保证本公告内容不存 在任何虚假记载、误导性陈述或者重大遗漏,并对其内容的真实 性、准确性和完整性承担相应的法律责任。 廣州富力地產股份有限公司 董事長 李思廉 香港,二零二四年十一月八日 於本公告日期,本公司的執行董 ...
富力地产(02777) - 海外监管公告
2024-11-01 08:32
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。 (於中華人民共和國註冊成立的股份有限公司) (股份代號:2777) 海外監管公告 本海外監管公告乃根據香港聯合交易所有限公司證券上市規則(「上市規則」)第13.10B條 刊發。 以下有關廣州富力地產股份有限公司(「本公司」)的相關文件已經上載於上海證券交易所 的網站(http://www.sse.com.cn): - 廣州富力地產股份有限公司關於公司債券存續期重大事項進展的公告 為遵守上市規則第 13.10B 條,該等上載資料亦刊登於香港聯合交易所有限公司「披露易」 網站(https://www.hkexnews.hk)。 承董事會命 廣州富力地產股份有限公司 董事長 李思廉 香港,二零二四年十一月一日 於本公告日期,本公司的執行董事為李思廉博士、張輝先生、相立軍先生及趙渢先生;非執行董事為張琳女士 及李海倫女士;及獨立非執行董事為鄭爾城先生、吳又華先生及王振邦先生。 * 僅供識別 债券代码:13636 ...
富力地产(02777) - 内幕消息 - 对本公司附属公司的清盘呈请之最新情况
2024-10-30 09:26
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。 (於中華人民共和國註冊成立的股份有限公司) (股份代號:2777) 內幕消息 對本公司附屬公司的清盤呈請之最新情況 本公告由廣州富力地產股份有限公司(「本公司」,連同其附屬公司統稱「本集團」)根據 香港聯合交易所有限公司(「聯交所」)證券上市規則(「上市規則」)第13.09(2)(a)條及香 港法例第571章證券及期貨條例第XIVA部下的內幕消息條文(定義見上市規則)作出。 茲提述本公司日期為二零二四年七月八日、二零二四年八月十九日、二零二四年九月三日及 二零二四年九月二十五日的公告,內容有關(其中包括)對兆晞及富力香港(各為本公司全 資附屬公司)之該等呈請以及就彼等資產委任接管人(「該等公告」)。除文義另有所指外, 本公告所用詞彙與該等公告所界定者具有相同涵義。 本公司股東及潛在投資者於買賣本公司股份時務請審慎行事。 承董事會命 廣州富力地產股份有限公司 公司秘書 李啓明 香港,二零二四年十月三十日 ...
富力地产(02777) - 2024 - 中期财报
2024-08-30 08:37
Economic Challenges - The company faced significant challenges in the first half of 2024, with ongoing economic uncertainty and a continued downturn in the Chinese real estate sector[14]. - Contract sales have significantly declined, leading to cash flow uncertainties and difficulties in managing liquidity for debt repayment[14]. - The market remains unpredictable, necessitating careful consideration of transaction timing and success[17]. Cash Flow Management - The company has shifted its focus to selling completed properties to generate immediate cash flow, as buyers are more inclined to purchase completed properties to avoid default risks[15]. - A notable transaction involved the sale of the One Nine Elms project in London for £1.6 billion, which helped avoid a £800 million construction loan default and generated RMB 2.1 billion in cash[15][16]. - The company plans to maintain open communication with banks and creditors to navigate liquidity challenges and explore alternative solutions such as selling non-core assets[17]. - The company plans to accelerate the pre-sale and sale of properties to improve cash flow and adjust sales activities in response to market conditions[89]. - The group maintains a focus on managing liquidity risks by ensuring sufficient cash and cash equivalents, including proceeds from pre-sold properties and available credit lines[97]. Financial Performance - Revenue from property development decreased by 15% to RMB 10.48 billion, with a total area delivered of 887,900 square meters, down approximately 38% from the previous year[31]. - The company's revenue for the six months ended June 30, 2024, was RMB 14,210,860, a decrease from RMB 16,416,162 in the same period of 2023, representing a decline of approximately 13.4%[76]. - The overall gross profit for the group was RMB 1.329 billion, down from RMB 3.234 billion in the same period last year, resulting in a gross margin of 10.9% compared to 17.2%[35]. - The net loss for the group was approximately RMB 2.331 billion, an improvement from a net loss of RMB 4.978 billion in the same period last year, attributed to gains from asset sales and reduced foreign exchange losses[41]. - The group reported a significant decrease in the amount of loans from joint ventures, indicating potential liquidity challenges[176]. Property Development and Sales - The total contracted sales for the first half of 2024 amounted to approximately RMB 5.6 billion, with a sales area of about 393,600 square meters and an average selling price of RMB 14,200 per square meter[20]. - The company aims to significantly increase real estate development and pre-sales to achieve long-term recovery and stable operations[17]. - The property development segment generated revenue of RMB 10,484,469,000 for the six months ended June 30, 2024, compared to RMB 12,305,037,000 in the same period of 2023, representing a decrease of about 17.5%[115]. Investment Properties - The overall contribution of investment properties to the company's revenue is relatively small, but their improved performance helps strengthen the company's financial position[15]. - Rental income from investment properties slightly increased by 2% to RMB 425 million compared to RMB 416 million in the same period last year[31]. - The investment property portfolio has a total construction area of approximately 3,542,200 square meters, with 1,964,200 square meters currently operational[25]. Debt and Financing - The total borrowings amounted to RMB 1138.3 billion, a decrease from RMB 1273.0 billion at the end of 2023, with a debt-to-equity ratio of 246.2% compared to 262.0% previously[42]. - Financing costs decreased by 34% to RMB 2.752 billion from RMB 4.164 billion in the same period last year, with total interest expenses of RMB 4.613 billion compared to RMB 5.031 billion last year[38]. - The group has implemented measures to mitigate potential adverse impacts on expected cash flows due to economic changes, including controlling land reserve investments and adjusting project development timelines[97]. Corporate Governance - The company has adopted the corporate governance code and has complied with its provisions as of June 30, 2024[65]. - The board of directors consists of nine members, including four executive directors and three independent non-executive directors[61]. - The company has established various communication channels with shareholders to ensure timely access to information[70]. Legal and Regulatory Issues - The group is involved in multiple ongoing litigations, including a claim of approximately RMB 649 million related to a land development project, which is currently under review by the Supreme People's Court[179]. - A bank has filed a lawsuit against the group for a loan dispute amounting to approximately RMB 632 million, which is currently being processed by the Guangzhou Intermediate People's Court[179]. - The group faces a claim of approximately RMB 523 million from a real estate development company regarding several loan arrangements, with the case accepted by the Shanghai Second Intermediate People's Court[179].
富力地产(02777) - 2024 - 中期业绩
2024-08-28 14:16
Revenue and Sales Performance - For the six months ending June 30, 2024, the company's revenue from property development decreased by 15% to RMB 10.484 billion, down from RMB 12.305 billion in the same period last year[6]. - Revenue for the six months ended June 30, 2024, was RMB 14,210,860 thousand, down 13.4% from RMB 16,416,162 thousand in the same period of 2023[25]. - Total revenue for the six months ended June 30, 2024, was RMB 14.458 billion, with property development contributing RMB 10.484 billion[35]. - The total area of properties delivered during the period was 887,900 square meters, a decrease of approximately 38% compared to 1,442,000 square meters delivered in the same period last year[6]. - The average selling price per square meter increased to RMB 11,800, compared to RMB 8,500 in the first half of 2023[6]. Profitability and Costs - The overall gross profit for the period was RMB 1.329 billion, down from RMB 3.234 billion in the same period last year[8]. - The gross profit margin for property development (excluding inventory impairment provisions) was 10.9%, compared to 17.2% in the first half of 2023[8]. - The company's total sales cost for the first half of 2024 was RMB 12.882 billion, a decrease of 2% from RMB 13.182 billion in the same period last year[7]. - The cost of land and construction accounted for 89% of the total property development costs, with the cost per square meter rising from RMB 6,140 to RMB 9,330[7]. - The gross profit margin significantly declined, with gross profit dropping to RMB 1,328,901 thousand from RMB 3,234,326 thousand, indicating a decrease of approximately 59%[25]. Financial Position and Liabilities - The company's total assets decreased from RMB 334,868,229 thousand as of December 31, 2023, to RMB 312,202,143 thousand as of June 30, 2024, representing a decline of approximately 6.8%[21]. - The total liabilities also decreased from RMB 288,476,067 thousand to RMB 267,987,680 thousand, a reduction of about 7.1%[23]. - Total bank borrowings and other debts amounted to RMB 124.317 billion, with RMB 65.436 billion due within the next twelve months[29]. - The company has not repaid certain bank and other borrowings totaling RMB 27.699 billion as of June 30, 2024[29]. Net Loss and Financial Results - The company recorded a net loss of approximately RMB 2.331 billion for the first half of 2024, an improvement from a net loss of RMB 4.978 billion in the same period of 2023, attributed to gains from asset sales and reduced foreign exchange losses[13]. - The net loss for the period was RMB 2,330,701 thousand, compared to a net loss of RMB 4,977,775 thousand in the prior year, showing an improvement of about 53%[26]. - The company reported a loss attributable to owners of RMB 2.331 billion for the six months ended June 30, 2024[29]. - The company incurred a net loss of RMB 2.331 billion for the period, with financing costs amounting to RMB 2.752 billion[35]. Other Income and Gains - Other income and gains for the first half of 2024 amounted to RMB 1.715 billion, a significant increase from RMB 307 million in the same period of 2023, primarily due to gains from the sale of subsidiaries and joint ventures[9]. - Other income increased to RMB 171,360 thousand from RMB 132,611 thousand, reflecting a growth of approximately 29.1%[25]. - The net gain from the sale of subsidiaries was RMB 1,093,387, significantly higher than RMB 30,139 in the previous year[43]. Cost Management and Operational Adjustments - The company plans to adjust its property development strategy in response to industry recovery, with expectations of more supportive government policies to stabilize the market[5]. - The company has made significant adjustments to control administrative costs and avoid unnecessary capital expenditures to maintain liquidity[30]. - Sales and marketing expenses for the first half of 2024 were RMB 606 million, up from RMB 500 million in the same period of 2023, while administrative expenses decreased by 33% to RMB 1.577 billion from RMB 2.356 billion[10]. Financing and Debt Management - Net financing costs decreased by 34% to RMB 2.752 billion in the first half of 2024, down from RMB 4.164 billion in the same period of 2023, mainly due to reduced foreign exchange losses[11]. - The company is currently facing cash flow pressure and has not made cash interest payments on approximately USD 147 million of preferred notes that matured on July 11, 2024[49]. - The company is in discussions with preferred noteholders regarding a friendly resolution and is considering all possible actions, including an overall debt management plan for offshore debts[49]. - The company plans to actively negotiate the extension of certain borrowings and seek new financing sources to address upcoming financial obligations[30]. Corporate Governance and Management - The company has complied with the corporate governance code and has established a robust audit committee to oversee financial reporting and risk management[16][17]. - The management expressed commitment to addressing market challenges and maintaining operational stability during a difficult market environment[19]. Dividend and Shareholder Returns - No interim dividend was declared for the six months ended June 30, 2024, consistent with the previous year[15]. - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with the same period in 2023[48].
富力地产(02777) - 2023 - 年度财报
2024-04-29 08:34
Financial Performance - In 2023, Guangzhou R&F Properties reported a revenue of RMB 36,238,835, a 3% increase from RMB 35,192,599 in 2022[4]. - The gross profit decreased significantly by 50% to RMB 1,919,239 from RMB 3,826,936 in the previous year[4]. - The company recorded a loss attributable to owners of RMB 20,164,485, which is a 28% increase compared to RMB 15,736,650 in 2022[4]. - The total revenue from property development decreased by 4% to RMB 27.811 billion, based on a delivery area of 3,000,000 square meters, down 8% from the previous year[28]. - The company reported a net loss of RMB 19,947 million for the year, compared to a net loss of RMB 15,779 million in the previous year, mainly due to a continued downturn in the real estate market[36]. - The company reported a total annual loss of RMB 19,947,238 thousand for the year ending December 31, 2023, compared to a loss of RMB 15,779,273 thousand in 2022, representing an increase in loss of approximately 26%[134]. - The total comprehensive income for the year was RMB (20,500,580) thousand, a significant decline from RMB (15,778,799) thousand in the previous year[137]. Cash Flow and Liquidity - Cash reserves fell by 53% to RMB 5,742,606 from RMB 12,301,227 in 2022[4]. - The company has cash and cash equivalents of only RMB 5.743 billion, indicating significant liquidity issues[80]. - The cash balance at the end of the year was RMB 1,727,204 thousand, down from RMB 2,177,020 thousand at the beginning of the year[37]. - The net cash used in operating activities was RMB 1,562,765 thousand, reflecting a decrease in pre-sale receipts[37]. - The company’s cash and cash equivalents decreased to RMB 1,727,204 in 2023 from RMB 2,177,020 in 2022, a decline of approximately 20.7%[130]. - The company is facing several pending lawsuits and is seeking amicable resolutions to these disputes[144]. Debt and Financing - The net debt to equity ratio rose to 262.0% from 170.8%[5]. - The total borrowings of the group amounted to RMB 127.30 billion as of December 31, 2023, compared to RMB 126.66 billion as of December 31, 2022[38]. - The company recorded a total sales agreement amount of approximately RMB 20 billion during the year[27]. - The company is actively negotiating with lenders to extend certain borrowings, with constructive discussions ongoing[144]. - There are defaults or cross-defaults on bank and other borrowings totaling RMB 37.980 billion[80]. - The company aims to restore cash flow cycles by focusing on pre-sales to regain lender and investor confidence in the current market environment[14]. Property Development and Sales - The total contracted sales for 2023 amounted to approximately RMB 19.95 billion, with a sales area of about 1,344,800 square meters, distributed across 199 projects in 109 cities[18]. - The company is actively exploring pre-sale strategies to generate cash flow from completed properties amid a challenging market environment[8]. - The company continues to seek opportunities to monetize hotel assets under feasible commercial terms[10]. - The company is committed to maintaining a prudent approach to land acquisition due to tight liquidity and low transaction volumes in the market[76]. Management and Governance - Management emphasizes the importance of transparent communication with stakeholders to address concerns and secure support for future plans[12]. - The company has established an internal control and risk management system to safeguard assets and shareholder interests, with independent monitoring of its effectiveness[65]. - The board is responsible for providing a clear and fair assessment of the group's performance, results, and prospects[50]. - The company has independent non-executive directors with rich experience in banking and finance, enhancing corporate governance[110][111]. Market Environment and Outlook - The overall operating environment for 2024 is cautious, with management maintaining an optimistic outlook despite ongoing economic uncertainties[12]. - The real estate industry remains sensitive to macroeconomic indicators and government policies, with ongoing challenges in liquidity and financial stability for many developers[75]. - The company is actively expanding its market presence in domestic cities to enhance competitiveness, despite economic uncertainties affecting consumer confidence and pre-sale levels[77]. Tax and Deferred Tax Assets - The company reported a deferred tax asset of RMB 2.247 billion as of December 31, 2022, which was subject to a qualified opinion from auditors[78]. - The auditors expressed concerns regarding the income tax expense of RMB 2.147 billion recognized for the year ended December 31, 2023, questioning whether it should have been recognized in prior years[79]. - The audit opinion for the financial statements as of December 31, 2023, is qualified due to uncertainties regarding the recognition of deferred tax assets[120]. Employee and Operational Costs - The total employee cost for the fiscal year ending December 31, 2023, was approximately RMB 2.314 billion, with a workforce of about 25,143 employees[42]. - Selling and marketing expenses rose by 7% to RMB 1,465 million, while administrative expenses increased to RMB 4,486 million[33]. - Significant adjustments have been made to control administrative costs and avoid unnecessary capital expenditures to maintain liquidity[144].
富力地产(02777) - 2023 - 年度业绩
2024-03-28 14:10
Revenue and Sales Performance - The total revenue for 2023 was RMB 36.2 billion, primarily from property sales, which amounted to RMB 27.8 billion, including 3 million square meters sold at an average price of RMB 9,270 per square meter, an increase compared to 2022[6]. - For the fiscal year ending December 31, 2023, the company reported revenue of RMB 36.24 billion, an increase from RMB 35.19 billion in 2022, while the cost of sales rose to RMB 34.32 billion from RMB 31.37 billion[13]. - Total contracted sales for 2023 were approximately RMB 19.95 billion, covering an area of about 1,344,800 square meters, with the top ten provinces contributing approximately RMB 16.11 billion, accounting for about 81% of total sales[60]. - The average selling price for properties was approximately RMB 9,270 per square meter, an increase from RMB 8,900 per square meter in the previous year[68]. - The company's sales cost increased by 9% to RMB 34.32 billion, primarily due to impairment provisions of approximately RMB 3.718 billion for properties under development and completed properties[69]. Financial Performance and Losses - The company incurred a net loss of RMB 19.95 billion for the fiscal year 2023, compared to a loss of RMB 15.78 billion in 2022, with a basic and diluted loss per share of RMB 5.3738[14]. - The company reported a loss attributable to owners of RMB 20.16 billion for the year ended December 31, 2023[23]. - The group reported an annual loss of RMB 19,947,238, with the largest losses in property development (RMB 16,948,019) and hotel operations (RMB 904,227)[33]. - The company recorded a net loss of RMB 19.947 billion for the year ended December 31, 2023, compared to a net loss of RMB 15.779 billion for the previous year, primarily due to a continued downturn in the Chinese real estate market[75]. - Basic and diluted loss per share was RMB (5.3738) in 2023, compared to RMB (4.1938) in 2022, indicating a worsening of approximately 28.2%[49]. Asset and Liability Management - Total assets decreased from RMB 368.92 billion in 2022 to RMB 334.87 billion in 2023, a decline of approximately 9.23%[15]. - Total liabilities decreased from RMB 301.98 billion in 2022 to RMB 288.48 billion in 2023, a decline of about 4.47%[16][17]. - The company reported a loss attributable to owners of RMB 20.164 billion for the year ending December 31, 2023, with total bank borrowings and other debts amounting to RMB 137.529 billion, of which RMB 56.795 billion is due within the next twelve months[59]. - The asset-liability ratio increased to 262.0% as of December 31, 2023, compared to 170.8% in the previous year, indicating a significant rise in leverage[76]. - The group’s segment liabilities totaled RMB 127,471,876, with property development liabilities at RMB 122,281,634[33]. Cash Flow and Financial Strategy - The company is focusing on cash flow management to avoid financial distress, prioritizing debt repayment and interest obligations amid a challenging operating environment[3]. - The company aims to restore cash flow cycles by focusing on pre-sales to regain the confidence of lending banks and investors, as the current market environment has led to a significant reduction in pre-sales[10]. - The company plans to expedite the pre-sale and sale of properties to improve cash flow and meet financial obligations[23]. - The company is actively exploring pre-sales of completed properties to generate cash flow, as market sentiment remains low and buyer confidence is cautious[4]. - The company has been engaged in asset sales both domestically and internationally, successfully generating additional cash flow and reducing debt in previous years[11]. Market and Economic Conditions - The overall economic environment remains cautious, with GDP growth in China at 5.2% for the year, surpassing the target of around 5%[2]. - The overall outlook for 2024 is cautious, with ongoing economic uncertainties and unpredictable pre-sale periods, but the company remains optimistic based on past experiences[8]. - The company anticipates further recovery in hotel performance in 2024, driven by increased domestic tourism and business travel[5]. - There is significant uncertainty regarding the group's ability to achieve its plans due to fluctuations in the mainland property market and the uncertainty of continued support from banks and lenders[24]. Operational Adjustments and Cost Management - The company has implemented significant adjustments to control administrative costs and avoid unnecessary capital expenditures[23]. - The company continues to seek opportunities to monetize hotel assets under feasible commercial terms, reflecting a proactive approach to asset management[5]. - The company has successfully resolved disputes and sought amicable solutions for outstanding liabilities, demonstrating a commitment to managing financial obligations[3]. - The company faced significant uncertainty regarding its ability to continue as a going concern due to defaults on bank loans totaling RMB 37.98 billion[59]. Tax and Accounting Matters - The total tax expense for the year was RMB 5.832 billion, up from RMB 5.916 billion in 2022, primarily due to the write-off of deferred tax assets related to prior year tax losses[74]. - The independent auditor's report expressed a qualified opinion regarding the recognition of deferred tax assets due to insufficient evidence provided by management[56]. - The group has adopted new accounting standards effective January 1, 2023, which do not significantly impact its financial position or performance[27]. Hotel Operations - Hotel revenue grew by 54% year-on-year, benefiting from increased leisure and travel activities, with occupancy rates for luxury and ultra-luxury hotels at approximately 64% and average room rates at RMB 773 per night[5]. - The company has 90 operational hotels with a total building area of 3,984,860 square meters and a total of 27,716 rooms managed by various well-known hotel management groups[67]. - The company is actively negotiating the sale of the One Nine Elms asset in London, estimated to have a total market development value of £1.3 billion, which could reduce related liabilities by over £600 million if successful[11].
富力地产(02777) - 2023 - 中期财报
2023-08-31 08:38
Sales and Revenue Performance - In the first half of 2023, the company's contracted sales decreased by an average of 5.3% compared to the same period in 2022, reflecting a significant decline in the real estate sector due to economic uncertainties[9]. - In the first half of 2023, the group achieved total contracted sales of approximately RMB 13.54 billion, with a sales area of about 903,600 square meters and an average selling price of RMB 15,000 per square meter[15]. - The top ten provinces and regions contributed approximately RMB 11.23 billion, accounting for about 83% of total contracted sales, with Guangdong province leading at RMB 4.22 billion[16]. - The group's revenue from property development decreased by 19% to RMB 12.305 billion, down from RMB 15.149 billion in the same period last year, due to a continued downturn in the Chinese real estate market[25]. - The company's revenue for the six months ended June 30, 2023, was RMB 16,416,162 thousand, a decrease of 7.7% compared to RMB 17,782,073 thousand in the same period of 2022[59]. - The total revenue for the six months ended June 30, 2023, was RMB 16,778,909,000, compared to RMB 18,260,478,000 for the same period in 2022, indicating a decrease of approximately 8.1%[86]. Hotel Operations - The hotel investment portfolio showed a significant improvement, with an average occupancy rate of 60%, and over 60 hotels achieving occupancy rates exceeding 90% during peak periods[11]. - Operating net profit from hotel operations reached RMB 681 million in the first half of 2023, a notable improvement compared to losses in the same period of 2022[11]. - Hotel operations revenue increased significantly from RMB 1.781 billion to RMB 2.983 billion, attributed to the rapid recovery of tourism and business activities post-COVID[25]. Financial Management and Liquidity - The company is focusing on liquidity management and has implemented cost control measures, including streamlining staff and halting further land reserve expansions[10]. - The company is actively selling non-core hotel and investment assets to generate liquidity for debt repayment and operational funding[11]. - The company has extended the maturity of its USD-denominated senior notes and RMB-denominated bonds by over 12 months as part of its debt restructuring efforts[10]. - The company is exploring opportunities to sell equity stakes in project development companies to generate additional cash inflow[70]. - The company is actively negotiating with lenders to extend certain borrowings, which is seen as constructive despite market uncertainties[70]. - The company aims to reduce administrative costs and avoid unnecessary capital expenditures to maintain liquidity[70]. Debt and Financial Ratios - The debt-to-equity ratio increased to 191.8% as of June 30, 2023, compared to 170.8% at the end of 2022[34]. - The total amount of guarantees provided for mortgage loans related to residential properties was RMB 81.355 billion, a decrease of 12% from RMB 92.129 billion as of December 31, 2022[36]. - The company reported a basic and diluted loss per share of RMB 1.3614, an improvement from RMB 1.8441 in the previous year[59]. - The net debt to equity ratio increased to 192% as of June 30, 2023, compared to 171% as of December 31, 2022[81]. - The company’s total liabilities stood at RMB 300,078,395 thousand, slightly down from RMB 301,979,915 thousand at the end of 2022[62]. Asset Management - As of June 30, 2023, the group had a total construction area of approximately 16,440,000 square meters and a total saleable area of about 11,655,000 square meters[18]. - The investment property portfolio totaled approximately 3,552,000 square meters, with operational properties covering about 1,973,000 square meters[20]. - The group owns 91 operational hotels with a total construction area of 4,051,260 square meters and a total of 28,164 rooms[21]. - The group has added approximately 173,000 square meters of saleable land during the period, with total land reserves amounting to approximately 59,612,000 square meters[23]. Profitability and Losses - The overall gross profit for the period was RMB 3.234 billion, with a gross margin of 17.2%, down from 18.9% in the first half of 2022[28]. - The net loss for the period was RMB 4,977,775 thousand, an improvement from a net loss of RMB 6,899,463 thousand in the same period last year[60]. - The company reported a loss attributable to owners of RMB 5.109 billion for the six months ended June 30, 2023[69]. - The company recorded a loss of RMB 362,858 thousand from joint ventures for the first half of 2023, compared to a profit of RMB 657,462 thousand in the same period last year[94]. Corporate Governance and Shareholder Information - The company has established various committees, including the Audit Committee, which is responsible for reviewing accounting policies and internal controls[50]. - The company has adopted the Corporate Governance Code and has been compliant with its provisions as of June 30, 2023[49]. - The board of directors consists of nine members, including four executive directors and three independent non-executive directors, ensuring a diverse leadership structure[46]. - The board of directors decided not to declare an interim dividend for the six months ended June 30, 2023, consistent with the previous year[39]. - The company's major shareholders, Dr. Li Silian and Mr. Zhang Li, held 28.97% and 27.77% of the company’s shares, respectively, as of June 30, 2023, highlighting concentrated ownership[130]. Market Outlook and Future Plans - The company anticipates more policies targeting the real estate sector to be introduced in the second half of 2023, although the effectiveness of these measures will take time to assess[9]. - The company plans to focus on market expansion and new product development to drive future growth[59]. - The group plans to complete the large-scale development project "One Nine Elms" in London by the end of this year, providing approximately 49,000 square meters of completed residential and serviced apartments for sale[12].
富力地产(02777) - 2023 - 中期业绩
2023-08-28 14:33
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。 (於中華人民共和國註冊成立的股份有限公司) (股份代號:2777) 二零二三年中期業績公告 廣州富力地產股份有限公司(「本公司」)董事會(「董事會」)欣然宣佈本公司及其附屬公司(「本集團」)截 至二零二三年六月三十日止六個月之未經審核簡明綜合業績。附錄於本公告後面部份的簡明綜合中 期財務資料為本公告不可分割部份。中期業績已由本公司審核委員會審閱。 1 業務回顧 在經歷多年新冠疫情的影響後,二零二三年標誌著我們開始將病毒置之腦後,展望未來。新冠疫情 大流行期間,封鎖、疫苗接種、社交距離措施和旅遊限制對日常生活和商業運營造成了嚴重干擾, 影響經濟增長。隨著群體免疫成為新常態,焦點轉向恢復生產力和重啟商業活動。全球旅遊限制逐 漸放寬並最終解禁,各國政府面臨刺激經濟復甦的挑戰。隨著新冠疫情終結,社會憂慮初步緩解 後,新的挑戰是控制生產力低下、供需失衡和勞動力短缺導致的高通脹等負面影響。二零二三年上 半年,經濟不確 ...