Core Viewpoint - Midea Real Estate Holdings Limited demonstrated strong performance in the first half of 2025, achieving significant growth despite industry adjustments, driven by clear strategic positioning and sustainable operational capabilities [1][3]. Financial Performance - In the first half of 2025, Midea Real Estate reported revenue of 2 billion yuan, a year-on-year increase of 41%, ranking among the industry's top growth rates [3]. - The core net profit attributable to shareholders reached 310 million yuan, up 119% year-on-year, with a gross margin of 30.8% [3]. - The company maintained a robust financial structure with total assets of 9.49 billion yuan, net assets of 4.98 billion yuan, and operating cash flow of 440 million yuan, with no interest-bearing debt [3]. Shareholder Returns - Midea Real Estate declared its first interim dividend of 0.15 HKD per share, with cumulative dividends since its listing in 2018 amounting to approximately 7.61 HKD per share [4]. Business Segments - The company operates four core business segments: development services, property management, asset operation, and real estate technology, all contributing to high-quality growth [5][11]. - In development services, Midea Real Estate generated 500 million yuan in revenue, focusing on urban development and leveraging existing resources [5]. - The property management segment achieved revenue of 930 million yuan, with a managed area of 79.46 million square meters [7]. - Asset operation revenue reached 230 million yuan, with a self-owned project occupancy rate of 91% [9]. - In real estate technology, the company reported revenue of 290 million yuan, emphasizing digital and green solutions [11]. Strategic Focus - The company is committed to enhancing product quality and service standards, aligning with the industry's shift from "incremental expansion" to "stock quality improvement" [12][15]. - Midea Real Estate aims to deepen its service capabilities in residential, industrial, and healthcare sectors, focusing on differentiated product offerings and refined services [15].

Core Viewpoint - Midea Real Estate is focusing on transforming its business model to adapt to new market demands and opportunities in the real estate industry, emphasizing a combination of light and heavy asset operations [1][2][3] Financial Performance - In the first half of the year, Midea Real Estate reported revenue of 1.996 billion yuan, a year-on-year increase of 41.3% [1] - The profit attributable to the owners from continuing operations was 310 million yuan, up 119% year-on-year [1] - The company has a healthy asset structure with a net cash flow of 440 million yuan and no interest-bearing debt, with total cash of 1.27 billion yuan [1] - A mid-term dividend of 0.15 HKD per share is proposed [1] Revenue Structure - Property management services remain the main contributor to Midea Real Estate's profits and cash flow, generating revenue of 930 million yuan, a year-on-year increase of 8.7% [1] - The contracted area for property management services is 96.06 million square meters, with managed area increasing to 79.46 million square meters, a growth of 5% compared to the end of the previous year [1] Development Services - The development services segment generated revenue of 505 million yuan, with four external projects initiated [2] - The project "Dongwangfu" in Wuxi achieved over 90% sales rate, exceeding expectations in both pricing and sales [2] Strategic Direction - The company aims to build a differentiated product path, emphasizing modern industrial aesthetics and high-quality materials [2] - Midea Real Estate plans to enhance community value-added services and improve professional service capabilities without pursuing blind expansion [2] - The strategic direction for the next 3-5 years includes deepening the layout of the real estate industry value chain and maintaining a performance growth rate of around 20% by 2025 [3]

Core Viewpoint - Midea Real Estate (03990) reported a significant increase in revenue but a decrease in net profit for the six months ending June 30, 2025, leading to a stock price increase of over 6% following the earnings announcement [1] Financial Performance - Revenue from continuing operations reached 1.997 billion RMB, a year-on-year increase of 41.3% [1] - Shareholder profit amounted to 305 million RMB, reflecting a year-on-year decrease of 18.73% [1] - Basic earnings per share were reported at 0.21 RMB [1] - The company proposed an interim dividend of 0.15 HKD per share [1] Property Management Services - Revenue from property management services was 930 million RMB, an increase of 8.7% compared to 856 million RMB in the same period of 2024 [1] - The growth in property management revenue was attributed to business expansion and the rolling delivery of existing residential projects [1] - As of the reporting period, the contracted area for property management services was 96.06 million square meters, with an area under management of 79.46 million square meters [1] Asset Operations - The company managed 64 industrial parks with a total area of 9.74 million square meters [1] - It operated 13 commercial entities with an operational area exceeding 700,000 square meters, of which 5 are self-owned [1] - The average occupancy rate of the operational commercial entities exceeded 90% [1] Strategic Focus - The company is developing a real estate technology sector aimed at enhancing housing quality and providing comprehensive green value chain service scenarios [1]

Core Viewpoint - Midea Real Estate's stock rose over 6% following the release of its interim results, reflecting positive market sentiment despite a decline in shareholder profit [1] Financial Performance - For the six months ending June 30, 2025, Midea Real Estate reported revenue from continuing operations of 1.997 billion yuan, an increase of 41.3% year-on-year [1] - Shareholder profit was 305 million yuan, a decrease of 18.73% compared to the previous year [1] - Basic earnings per share were 0.21 yuan, with an interim dividend proposed at 0.15 Hong Kong dollars per share [1] Property Management Services - Revenue from property management services reached 930 million yuan, up 8.7% from 856 million yuan in the same period of 2024, driven by business expansion and ongoing delivery of existing residential projects [1] - As of the reporting period, the contracted area for property management services was 96.06 million square meters, with managed area at 79.46 million square meters [1] Asset Operations - The company manages 64 industrial parks with a total managed area of 9.74 million square meters [1] - Midea Real Estate operates 13 commercial entities with an operational area exceeding 700,000 square meters, achieving an average occupancy rate of over 90% [1] - The company has developed three self-owned industrial parks to enhance its commercial operations and asset management system [1] Real Estate Technology - The company is focusing on real estate technology as a strategic area, emphasizing the importance of quality housing and providing comprehensive green value chain service scenarios [1]

美的置业（03990）发布截至2025年6月30日止六个月中期业绩，持续经营业务收入19.97亿元（人民 币，下同），同比增加41.3%；股东应占溢利3.05亿元，同比减少18.73%；每股基本盈利0.21元；拟派 发中期股息每股0.15港元。 公告称，期内，物管服务收入为9.3亿元，较2024年同期8.56亿元上升8.7%，该增幅主要由于业务拓展 及已有住宅项目滚动交付所致。 来源：新浪港股 ...

Core Insights - Midea Real Estate reported a revenue of RMB 1.997 billion for the six months ending June 30, 2025, representing a 41.3% increase compared to the same period in 2024 [1] - The profit attributable to the company's owners for the same period was RMB 305 million, showing a significant growth of 117.1% year-on-year [1] - Basic earnings per share for the company were RMB 0.21 [1] Business Operations - As of the reporting period, the contracted area for property management services was 96.06 million square meters, with managed area at 79.46 million square meters [1] - The company managed 64 industrial parks with a total managed area of 9.74 million square meters [1] - The asset operation segment includes 13 commercial properties with an operational area exceeding 700,000 square meters, achieving an average occupancy rate of over 90% [1] Strategic Focus - The company aims to focus on four main business segments: "Development Services + Property Management Services + Asset Operations + Real Estate Technology" [2] - The goal is to enhance property management capabilities and improve asset operation and management efficiency, ultimately creating greater value for society [2]

Group 1 - The core viewpoint of the articles highlights the financial performance of Midea Real Estate for the six months ending June 30, 2025, showing a revenue increase of 41.3% year-on-year to 1.997 billion RMB, while shareholder profit decreased by 18.73% to 305 million RMB [1] - The property management service revenue reached 930 million RMB, an increase of 8.7% compared to 856 million RMB in the same period of 2024, driven by business expansion and the rolling delivery of existing residential projects [1] - As of the reporting period, the contracted area for property management was 96.06 million square meters, with managed area at 79.46 million square meters, and the average occupancy rate of operational commercial entities exceeded 90% [1] Group 2 - The development services segment was established following the completion of the physical distribution and sale (restructuring) on October 22, 2024, focusing on the full-chain development management of real estate assets held by the controlling shareholder post-restructuring [2] - This new segment encompasses property design, development, planning, construction, and sales, and aims to qualitatively expand third-party construction services [2]

Group 1 - The core viewpoint of the articles highlights the financial performance of Midea Real Estate for the six months ending June 30, 2025, showing a revenue increase of 41.3% year-on-year to 1.997 billion RMB, while shareholder profit decreased by 18.73% to 305 million RMB [1] - The property management service revenue reached 930 million RMB, an increase of 8.7% compared to 856 million RMB in the same period of 2024, driven by business expansion and the rolling delivery of existing residential projects [1] - As of the reporting period, the contracted area for property management was 96.06 million square meters, with managed area at 79.46 million square meters, and the average occupancy rate of operational commercial entities exceeded 90% [1] Group 2 - The development services segment was established following the completion of the physical distribution and sale (restructuring) on October 22, 2024, focusing on the full-chain development management of real estate assets held by the controlling shareholder post-restructuring [2] - This new segment encompasses various stages of property management, including design, development, planning, construction, and sales, and aims to qualitatively expand third-party construction services [2]

来源：智通财经 8月27日，美的置业（3990.HK）发布2025中期业绩公告。公司上半年实现营业收入20亿元，同比增长 41%；归母核心净利润为3.1亿元，同比增长119%。首次宣派中期股息每股0.15港元。美的置业将坚持 长期主义，扎实落地"开发服务+物管服务+资产运营+房地产科技"四大业务板块，持续厚植产品价值创 造的核心竞争力根基，建设好房子、提供好服务，探索房地产新模式。 ...

EF001 | 其他信息 | | | --- | --- | | 其他信息 | 不適用 | | 發行人董事 | | | | 於本公告日期，本公司執行董事為郝恒樂先生、王大在先生及劉敏女士；本公司非執行董事為何劍鋒先生、趙軍先生及任凌艷女 | EF001 免責聲明 | 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。 | 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 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 美的置業控股有限公司 | | 股份代號 | 03990 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年6月30日止六個月之中期股息 | | 公告日期 | 2025年8月27日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 中期（半年期） | | 股息性質 | 普通股息 | | 財政年末 | 2025年12月31日 | | 宣派股息的報告期末 | 2025年 ...