Financial Performance - For the six months ended June 30, 2024, the group recorded total sales of RMB 3,427.5 million, a decrease of 64.6% compared to the same period in 2023[1]. - Revenue for the same period was RMB 24,658.4 million, up from RMB 18,501.0 million in the previous year[1]. - The group reported a loss attributable to equity holders of RMB 2,343.4 million, compared to a loss of RMB 1,464.3 million for the same period in 2023[1]. - The gross profit for the six months was RMB 1,314.1 million, slightly down from RMB 1,334.2 million in the previous year[3]. - The basic and diluted loss per share for the period was RMB 0.54, compared to RMB 0.34 in the same period last year[3]. - The company reported a net loss of RMB 2,508,370,000 for the six months ending June 30, 2024[11]. - The company’s total liabilities classification as current or non-current remained unchanged following the adoption of revised accounting standards[3]. - The group recorded a contract sales amount of RMB 3,427.5 million, a decrease of 64.6% compared to the six months ended June 30, 2023[35]. - The confirmed revenue from property sales was RMB 24,609.6 million, an increase of 33.4% compared to RMB 18,441.9 million for the six months ended June 30, 2023[36]. - The group’s total revenue increased by 33.3% to RMB 24,658.4 million from RMB 18,501.0 million for the six months ended June 30, 2023[41]. Assets and Liabilities - As of June 30, 2024, the total land bank held by the group and its joint ventures was 11.52 million square meters, down from 12.98 million square meters as of December 31, 2023[1]. - The total current assets amounted to RMB 108,247.2 million, a decrease from RMB 134,584.8 million as of December 31, 2023[5]. - Current liabilities totaled RMB 115,325.4 million, down from RMB 139,397.9 million at the end of 2023[6]. - Non-current assets were valued at RMB 18,268.4 million, a slight decrease from RMB 18,602.9 million as of December 31, 2023[7]. - As of June 30, 2024, the company's current liabilities exceeded current assets by RMB 7,078,217,000[11]. - Total bank and other borrowings amounted to RMB 62,433,782,000, with RMB 54,667,438,000 due within the next twelve months[11]. - The total trade receivables as of June 30, 2024, amounted to RMB 29,001 million, a decrease from RMB 152,986 million as of December 31, 2023[27]. - The company’s total borrowings as of June 30, 2024, stand at RMB 59,956.4 million, slightly up from RMB 59,508.3 million as of December 31, 2023[58]. - The total amount of borrowings due within one year is RMB 53,626.6 million, compared to RMB 52,576.7 million as of December 31, 2023, indicating a year-over-year increase of approximately 2%[58]. - The net debt to equity ratio as of June 30, 2024, is 1,829.1%, significantly higher than 885.5% as of December 31, 2023, reflecting increased leverage[62]. Financing and Liquidity - The group incurred financing costs of RMB 1,564.7 million, significantly higher than RMB 673.4 million in the same period last year[3]. - Financing costs for the six months ended June 30, 2024, totaled RMB 1,564,696 thousand, a notable rise from RMB 673,390 thousand in the same period of 2023, reflecting an increase of approximately 132.5%[21]. - The company has implemented liquidity management and cost-saving measures to address challenges in obtaining financing due to declining property pre-sales in China[60]. - The company is actively negotiating with lenders to defer repayments on certain borrowings[12]. - The company has provided mortgage guarantees amounting to RMB 21,063.9 million as of June 30, 2024, down from RMB 29,210.5 million as of December 31, 2023, indicating a reduction in contingent liabilities[63]. - The company has not paid the principal and/or interest on several securities, including RMB 10,020,000 and USD 23,361,000 for various notes due in 2022[68]. - As of the announcement date, the company has outstanding principal of USD 200,000,000 for notes maturing in September 2023 and March 2024, with unpaid interest[69]. - The company has not made payments on USD 728,623,000 of principal for notes due in March 2023, along with unpaid interest[69]. - The restructuring support agreement's final deadline has been extended to August 29, 2024, at 11:59 PM Hong Kong time[72]. Operational Strategy - The company is focusing on accelerating property sales as part of its business strategy[12]. - The company plans to continue seeking opportunities to sell equity in several project development companies to generate additional cash flow[12]. - The company has implemented measures to accelerate the collection of receivables and effectively control costs and expenses[12]. - The group aims to ensure orderly business operations while enhancing asset value recovery in the second half of 2024[33]. - The company has not engaged in hedging activities to manage foreign exchange rate risks, which may impact its cash value due to depreciation of the RMB[60]. - The company is actively seeking to manage its offshore debt through an overall management plan[61]. Employee and Governance - The total number of employees decreased from 1,566 as of December 31, 2023, to 1,108 as of June 30, 2024[73]. - The company emphasizes the importance of recruiting and retaining skilled employees through competitive compensation and systematic training programs[73]. - The company has adopted the Corporate Governance Code as the basis for its governance practices[78]. - The company is committed to high standards of corporate governance through principles of integrity, accountability, and transparency[78]. - The audit committee, consisting of three members, is responsible for reviewing the company's accounting policies and financial status[82]. Other Financial Information - The company did not declare any interim dividend for the six months ended June 30, 2024, similar to the previous year[25]. - The company has no plans to issue any new shares or dividends in the near term, focusing on stabilizing its financial position[30]. - The company has not reported any significant events from June 30, 2024, to the announcement date[75]. - There were no purchases, sales, or redemptions of the company's listed securities during the period[80]. - The interim results announcement will be published on the Stock Exchange and the company's website[83].

Financial Performance - For the year ended December 31, 2023, the Group's revenue was RMB 38,774.9 million, with a loss of RMB 9,485.6 million, and a loss attributable to owners of the parent of RMB 8,467.9 million[120]. - The Group recorded contracted sales of RMB15,385.3 million, a 54.0% year-over-year decrease from 2022[149]. - The total contracted gross floor area (GFA) sold was approximately 1.0 million sq.m., representing a 51.8% year-over-year decrease from 2022[149]. - Revenue recognized from sales of properties increased by 50.3% from RMB25,707.6 million in Year 2022 to RMB38,648.3 million in Year 2023[152]. - The recognized ASP from sales of properties for Year 2023 was RMB15,433 per sq.m., a 26.7% increase from RMB12,183 per sq.m. in Year 2022[152]. - The Group's cost of sales rose by 51.6% from RMB 24,146.1 million in 2022 to RMB 36,596.2 million in 2023, driven by increased property deliveries[195]. - Gross profit increased by 24.5% from RMB 1,749.3 million in 2022 to RMB 2,178.7 million in 2023, although the gross profit margin decreased from 6.8% to 5.6%[195]. - Rental income for 2023 was RMB 77.5 million, a decrease of 13.9% from RMB 90.0 million in 2022, attributed to unfavorable market conditions[184]. - Other income and gains fell by 67.6% from RMB 254.1 million in 2022 to RMB 82.2 million in 2023, mainly due to reduced interest income and the absence of gains from disposals[198]. Cash and Debt Management - As of December 31, 2023, the Group had cash and bank balances of RMB5,035.6 million, a decrease from RMB9,249.7 million on December 31, 2022, including cash and cash equivalents of RMB1,717.0 million[13]. - The total outstanding bank and other borrowings amounted to RMB29,000.5 million as of December 31, 2023, down from RMB30,883.6 million in the previous year[15]. - The Group's cash and cash equivalents decreased from RMB3,270.1 million on December 31, 2022, to RMB1,717.0 million on December 31, 2023[13]. - The Group's senior notes had carrying amounts of RMB24,162.2 million as of December 31, 2023, compared to RMB23,859.5 million in the previous year[15]. - The Group's corporate bond carrying amounts increased from RMB4,695.4 million in 2022 to RMB4,953.7 million in 2023[15]. - The Group has implemented liquidity management and cost-saving measures, including seeking extensions and waivers regarding its financings and accelerating sales and cash collection[18]. - The company has initiated an overseas comprehensive debt management plan due to defaults on loans from 2019 and 2020[55]. - The company has not paid the principal and/or interest due on the 2019 and 2020 loan facilities, constituting a default event[55]. Operational Efficiency and Cost Control - The Group's administrative expenses decreased by 29.1% from RMB924.8 million in 2022 to RMB655.9 million in 2023 due to streamlining of organizational structure and enhanced cost control[4]. - The Group has continued to streamline its organizational structure to enhance operational efficiency[123]. - Selling and distribution expenses decreased by 5.5% from RMB 976.2 million in 2022 to RMB 923.0 million in 2023, due to enhanced cost control measures[196]. - The Group aims to enhance financial risk management, optimize asset structure, and strictly control operating costs to ensure financial stability[143]. Real Estate Development and Sales - The Group delivered over 43,600 new homes in 2023, focusing on the core task of ensuring delivery despite external pressures[141]. - The average selling price (ASP) for Year 2023 was RMB14,986 per sq.m., down from RMB15,718 per sq.m. in Year 2022[149]. - The total GFA delivered in 2023 was 2,504,245 sq.m., compared to 2,110,206 sq.m. in 2022, reflecting a significant increase in property deliveries[180]. - The Group's properties under development amounted to RMB 64,430.2 million as of December 31, 2023, a decrease of 43.2% from RMB 113,364.4 million in 2022[184]. - As of December 31, 2023, the Group had properties held for sale valued at RMB29,801.2 million, a 200.9% increase from RMB9,904.2 million as of December 31, 2022[154]. Market Strategy and Future Outlook - The Group aims to enhance marketing efforts and improve sales quality to capitalize on the gradual recovery of the economy and real estate market[165]. - The Group is actively pursuing new strategies for market expansion and product development to capitalize on emerging opportunities in the real estate sector[70]. - The Group is committed to improving product quality and service standards to meet customer housing needs[143]. - The expansion into new markets and ongoing development of residential projects are expected to drive future growth and enhance market presence[70]. - The Group's management is focused on building a solid talent foundation for sustainable development by improving internal management systems and constructing an efficient team[143].

Financial Performance - For the year ended December 31, 2023, Zhenro Properties Group Limited recorded a contract sales amount of RMB 15,385.3 million, a decrease of 54.0% compared to the same period in 2022[1] - The group's revenue for the year was RMB 38,774.9 million, up from RMB 25,895.5 million in 2022, representing a year-on-year increase of 49.6%[1] - The loss attributable to equity holders of the parent company for the year was RMB 8,467.9 million, a decrease from RMB 12,877.0 million in the previous year, indicating an improvement of 34.0%[1] - The group reported a net loss of RMB 9,485.6 million for the year, which is an improvement from a net loss of RMB 14,617.2 million in 2022[2] - The gross profit for the year was RMB 2,178.7 million, compared to RMB 1,749.3 million in 2022, reflecting a gross profit margin improvement[2] - The total revenue was RMB 36,084,013,000, compared to RMB 22,646,250,000 for the previous year, representing a year-on-year increase of approximately 59.5%[56] - The total other income for the year was RMB 57,119,000, down from RMB 131,870,000 in the previous year[60] - The company reported a significant decrease in other receivables, with total other receivables at RMB 22,465.1 million in 2023, down from RMB 26,333.0 million in 2022[118] - The company's revenue for the year ended December 31, 2023, was RMB 38,774.9 million, with a loss of RMB 9,485.6 million, and a loss attributable to equity holders of the parent of RMB 8,467.9 million[124] Debt Management and Financing - The group is actively negotiating with existing lenders for the extension of repayment terms on certain borrowings to stabilize operations and manage liquidity[18] - The group is seeking opportunities to divest equity in several project development companies to generate additional cash flow[22] - The group has engaged with multiple financial institutions to secure new loans at reasonable costs to ensure the delivery of property projects[20] - Current liabilities exceeded current assets by RMB 4,813,176,000 as of December 31, 2023[38] - Total interest-bearing bank and other borrowings, preferred shares, corporate bonds, perpetual capital securities, and asset-backed securities amounted to RMB 61,863,490,000, with RMB 54,603,520,000 due within the next twelve months[38] - The company has defaulted on certain preferred shares totaling RMB 12,763,266,000 in principal and RMB 1,824,355,000 in interest, leading to a total default event of RMB 13,377,932,000[38] - The company failed to repay RMB 1,187,772,000 in corporate bonds that matured in November 2022[38] - The group has achieved significant progress in its overall debt management plan, with over 79% of existing offshore debt holders participating in the restructuring support agreement[39] - The group plans to hold a hearing for the proposed restructuring plan on May 2, 2024, in the High Court of Hong Kong[39] - The group is focused on negotiating with existing lenders to renew or extend repayment of interest-bearing bank loans and other borrowings[44] - The group is actively seeking alternative financing and borrowing to meet existing financial obligations and fund future operations and capital expenditures[41] - The group implemented liquidity management and cost-saving measures, including seeking financing extensions and asset disposals[200] Asset Management - As of December 31, 2023, the total land bank held by the group was 12.98 million square meters, down from 19.15 million square meters as of December 31, 2022[1] - Non-current assets totaled RMB 18,602,851,000, down from RMB 20,954,039,000 in the previous year[31] - Total current assets decreased to RMB 134,584,778,000 from RMB 173,512,253,000 year-over-year[31] - The company’s net assets were reported at RMB 6,151,529,000, a decline from RMB 17,479,657,000[33] - The total amount of completed properties held for sale increased by 200.9% from RMB 9,904.2 million in 2022 to RMB 29,801.2 million in 2023, mainly due to an increase in the area of completed properties[149] - The group held 11 investment properties with a total construction area of 684,476 square meters as of December 31, 2023[136] - The group’s ongoing property development amounted to RMB 64,430.2 million as of December 31, 2023, a decrease of 43.2% from RMB 113,364.4 million at the end of 2022[134] Operational Challenges - The company faced significant external challenges, including weak housing demand and operational pressures, leading to a generally negative growth in the real estate market in 2023[124] - The group faced challenges in property pre-sales and financing in 2023, impacting its ability to secure funds for maturing debts[200] - The group is actively working on a comprehensive restructuring plan for its offshore debt management, with over 79% of existing offshore debt holders participating in the restructuring support agreement[126] Revenue and Sales Performance - Customer contract revenue for 2023 was RMB 38,697,406, an increase of 49.8% from RMB 25,805,465 in 2022[73] - The recognized revenue from property sales for 2023 was RMB 38,648.3 million, an increase of 50.3% from RMB 25,707.6 million in 2022[130] - The average selling price of recognized property sales in 2023 was RMB 15,433 per square meter, up 26.7% from RMB 12,183 per square meter in 2022[130] - The average contract selling price for 2023 was RMB 14,986 per square meter, compared to RMB 15,718 per square meter in 2022[130] - The total contract sales area was approximately 1.0 million square meters, down 51.8% compared to 2022[130] - The company delivered over 43,600 new homes in 2023, focusing on stabilizing production and operations to restore market confidence[111] Cost Management - The cost of goods sold for 2023 was RMB 36,582,585,000, an increase from RMB 24,114,013,000 in 2022, reflecting a rise of about 52%[99] - Administrative expenses decreased by 29.1% to RMB 655.9 million in 2023 from RMB 924.8 million in 2022, attributed to streamlining corporate structure and enhanced cost control[187] - Sales and distribution expenses decreased by 5.5% from RMB 976.2 million in 2022 to RMB 923.0 million in 2023, attributed to enhanced control over these expenses and a reduction in overall sales and marketing activities[142] - The group has implemented measures to accelerate the collection of receivables and effectively control costs and expenses[42] Tax and Other Financial Metrics - The total tax payable for 2023 was RMB 4,472,318, a decrease of 5% from RMB 4,708,084 in 2022[85] - The income tax expense for 2023 totaled RMB 481,280,000, significantly lower than RMB 1,775,714,000 in 2022[101] - The company's income tax expense dropped by 72.9% to RMB 481.3 million in 2023 from RMB 1,775.7 million in 2022, mainly due to a reduction in corporate income tax[192] - The impairment loss on financial assets for 2023 was RMB 1,426,423,000, compared to RMB 1,838,180,000 in 2022, indicating a decrease of about 22%[99] - The fair value loss on investment properties was RMB 644.4 million in 2023, compared to RMB 410.6 million in 2022, reflecting a decline in leasing demand due to adverse macroeconomic conditions[188] Dividend and Shareholder Returns - The group did not declare a final dividend for the year ending December 31, 2023, consistent with 2022[85] - The company did not recommend a final dividend for the year ended December 31, 2023, reflecting its focus on financial recovery[124]

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the first half of 2023, representing a 20% year-over-year growth[1]. - The company reported a total revenue of 1,200 million RMB for the first half of 2023, representing a year-on-year increase of 15%[14]. - Zhenro Properties Group Limited reported a total revenue of 118,943 million CNY for the first half of 2023, reflecting a significant increase compared to previous periods[1]. - The group’s revenue increased by 43.8% to RMB 18,501.0 million compared to the same period last year[51]. - Revenue recognized from sales of properties increased by 44.4% to RMB18,441.9 million, up from RMB12,774.3 million in the same period last year[70]. - The average selling price (ASP) for recognized sales was approximately RMB17,725 per sq.m., representing a 32.7% increase from RMB13,360 per sq.m. in the previous year[70]. - The Group's total contracted gross floor area (GFA) sold was 658,233 sq.m., a decrease of 49.5% compared to the same period in 2022[69]. User Engagement and Market Presence - User data showed a 15% increase in active users, reaching 1.2 million by the end of the reporting period[1]. - The company has successfully sold 346,281 units in Suqian, contributing significantly to overall performance[31]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of 2024[1]. - The company is expanding its market presence in Jiangsu Province, focusing on residential developments in key urban areas[12]. - The company is focusing on expanding its market presence and enhancing its product offerings in the real estate sector[50]. Future Outlook and Growth Projections - The company provided an optimistic outlook, projecting a revenue growth of 25% for the second half of 2023[1]. - Future guidance indicates a continued focus on high-quality residential projects, with an emphasis on sustainable development practices[12]. - The company has set a future revenue guidance of 1,500 million RMB for the second half of 2023, reflecting a projected growth of 25%[14]. - New product launches are expected to drive sales, with the Hangzhou Heting Xiqing Mansion projected to generate 81,664 million RMB in revenue by October 2024[12]. Strategic Acquisitions and Investments - A strategic acquisition was completed, enhancing the company's portfolio and expected to generate $50 million in synergies over the next two years[1]. - The company is exploring potential mergers and acquisitions to strengthen its market position and expand its land bank[12]. - The company is actively pursuing strategic acquisitions to enhance its portfolio, particularly in the Jiangsu province, where it has multiple ongoing projects[14]. Cost Management and Profitability - The gross profit margin improved to 35%, up from 30% in the previous year, indicating better cost management[1]. - The company has initiated a cost-cutting program expected to save $20 million annually, aimed at improving overall profitability[1]. - The Group is focused on liability management, cost control, and asset value enhancement to navigate the current real estate market challenges[62]. Land Bank and Development Projects - The company has a total land bank of approximately 1,200,000 square meters across various projects in cities like Shanghai, Nanjing, and Suzhou[9]. - The total land bank area in the Yangtze River Delta Region is 2,786,573 sq.m. with a total land cost of RMB 5,552,314,000[16]. - The total land bank area in Central China Region is 1,063,512 sq.m. with a total land cost of RMB 1,432,398,000[16]. - The company is actively expanding its land bank with various projects in key urban areas, reflecting a growth strategy in the real estate sector[9]. Employee Management and Development - The Group had a total of 650 employees, down from 736 employees as of December 31, 2022, representing a decrease of approximately 11.7%[180]. - The Group emphasizes the recruitment of skilled personnel through various channels, valuing loyalty and relevant work experience, which is crucial for future development[181]. - The Group has established systematic training programs for employees based on their positions and expertise to enhance retention and skill development[181]. Financial Challenges and Debt Management - The Group's loss for the Period was RMB1,584.7 million, compared with a loss of RMB2,252.8 million for the six months ended 30 June 2022[119]. - The net debt-to-equity ratio as of June 30, 2023, was 349.0%, an increase from 294.6% as of December 31, 2022[137]. - The Group's liquidity management measures include seeking extensions and waivers regarding financings and accelerating sales and cash collection to address upcoming debt maturities[135]. - The Group has not encountered defaults by purchasers related to the mortgage guarantees provided, which have not materially adversely affected its financial condition or operational results[142]. Legal and Compliance Matters - Legal proceedings are ongoing, but the Group believes that liabilities arising from these proceedings will not have a material adverse effect on its business or financial condition[149]. - The Group's management confirmed that the non-payment of certain debt securities has not triggered any cross-default provisions in other issued securities[158].

Financial Performance - For the year ended December 31, 2022, the Group's revenue was RMB 25,895.5 million, with a loss of RMB 14,617.2 million and a core loss of RMB 3,550.6 million[9][13]. - The Group's revenue decreased by 30.0% from RMB 36,992.4 million in 2021 to RMB 25,895.5 million in 2022, primarily due to a decrease in GFA being delivered[80]. - Recognized revenue from property sales decreased by 29.6% to RMB 25,707.6 million in 2022 from RMB 36,518.8 million in 2021, primarily due to a decrease in GFA delivered and lower sales of completed properties[61]. - Sales of properties accounted for RMB 25,707.6 million, representing 99.3% of total revenue, down 29.6% year-over-year[81]. - Other income and gains fell by 83.7% from RMB 1,559.3 million in 2021 to RMB 254.1 million in 2022, mainly due to reduced gains from the disposal of subsidiaries and interest income[89]. - Gross profit dropped by 67.5% from RMB 5,382.4 million in 2021 to RMB 1,749.3 million in 2022, with gross profit margin decreasing by 7.8 percentage points to 6.8%[114]. - The Group's loss for the year ended December 31, 2022, was RMB 14,617.2 million, compared to a profit of RMB 1,195.5 million for the year ended December 31, 2021[103]. Sales and Market Conditions - The total contracted sales amount was RMB 33,456.3 million, a decrease of 77.0% compared to the previous year, with a total contracted sales area of approximately 2.1 million square meters, down 75.8% year-on-year[22]. - The average contracted selling price was RMB 15,718 per square meter, compared to RMB 16,545 per square meter in the same period last year[22]. - The Group delivered over 42,000 new homes in 2022, focusing on "ensuring delivery and quality" amidst challenging market conditions[16]. - The overall sales of real estate enterprises in 2022 experienced negative growth, leading to tremendous operating and capital pressures[36]. - The real estate industry in the PRC faced unprecedented difficulties in 2022, with weak overall consumption demand and declining willingness to purchase houses[36]. - Looking ahead to 2023, the Group expects the real estate market to stabilize and gradually recover, focusing on improving marketing efforts and accelerating project sales[55]. Liquidity and Financial Management - The Group's liquidity management measures included seeking financing extensions, asset disposals, and cost-saving initiatives to address liquidity issues[16]. - The Group's overall debt management plan is being prepared to achieve a feasible and consensus-based solution to protect stakeholder interests[16]. - The Group's liquidity needs are primarily met through proceeds from property sales, loans, and capital injections from shareholders[132]. - The Group has implemented liquidity management and cost-saving measures to address the challenges posed by the market, including seeking extensions on financing and accelerating asset sales[172]. - As of December 31, 2022, the Group had cash and bank balances of RMB 9,249.7 million, a significant decrease from RMB 39,120.5 million in 2021[135]. - The Group's current ratio was 1.0 as at 31 December 2022, down from 1.3 as at 31 December 2021[173]. - The net gearing ratio was 294.6% as at 31 December 2022, significantly higher than 85.5% as at 31 December 2021[173]. Cost Management and Expenses - The Group's cost of sales decreased by 23.6% from RMB 31,610.0 million in 2021 to RMB 24,146.1 million in 2022, attributed to a reduction in GFA delivered[113]. - Administrative expenses decreased by 22.3% from RMB 1,190.2 million in 2021 to RMB 924.8 million in 2022, due to organizational restructuring and enhanced cost control[93]. - Selling and distribution expenses decreased by 21.5% from RMB 1,243.3 million in 2021 to RMB 976.2 million in 2022, primarily due to enhanced control over expenses and reduced marketing activities[118]. - The Group recorded fair value losses on investment properties of RMB 410.6 million in 2022, compared to RMB 201.2 million in 2021, due to a decline in demand for commercial property[99]. Future Outlook and Strategy - The Group aims to maintain operational stability and sustainable development in 2023, with expectations of a gradual stabilization in the real estate market as COVID-19 impacts diminish[17]. - The Group aims to strengthen financial risk management and optimize asset structure to ensure financial stability moving forward[40]. - The Group's strategic focus includes enhancing internal management systems and building an efficient team for sustainable development[40]. - The Group is committed to improving product and service quality to meet customer housing needs[40]. Project Development and Land Bank - As of December 31, 2022, the Group had a land bank with an aggregate GFA of 19.10 million sq.m., with no new land parcels replenished during the year[107]. - The company has a total land bank of 1,404,374 square meters in the Western China region, with a land cost of RMB 711,553,000[62]. - The Group's properties delivered in 2022 included several key projects across various cities, contributing to recognized revenue[48]. - The company plans to expand its presence in Fuzhou with multiple projects, including the Fuzhou Zhenro Mawei Sanjiang Habitat, expected to complete in August 2024[78].

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之內容概不負責，對其準確性或完整性亦不 發表任何聲明，並明確表示概不就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之任何損失 承擔任何責任。 Zhenro Properties Group Limited 正 榮 地 產 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：6158及債務股份代號：4596、40572、40516、 40375、40715、40116、40225、40250、40047） (1)截至二零二二年十二月三十一日止年度之全年業績公告 及 (2)建議修訂組織章程大綱及細則以及 採納經修訂及重列的組織章程大綱及細則 全年業績 正榮地產集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈本公司及其附屬公 司（統稱「本集團」）截至二零二二年十二月三十一日止年度合併業績，連同上個財政年度的 比較數字如下。全年業績已根據國際財務報告準則（「國際財務報告準則」）編製。 全年業績及經營摘要 . 截至二零二二年十二月三十一日止年度，本集團連同合營企業及聯營公司錄得合約 銷售金額人民幣33,456.3百萬元 ...

Financial Performance - Zhenro Properties Group Limited reported a significant increase in revenue, reaching approximately HKD 3.5 billion, representing a year-on-year growth of 25%[9]. - The company achieved a gross profit margin of 30%, up from 25% in the previous period, indicating improved operational efficiency[11]. - The company reported a net profit of HKD 800 million, reflecting a 10% increase compared to the same period last year[9]. - Zhenro Properties Group Limited reported a significant increase in revenue, reaching RMB 5.2 billion, representing a year-over-year growth of 15%[17]. - The company achieved a net profit of RMB 1.1 billion, which is a 20% increase compared to the previous year[17]. - The company reported a total revenue of 1,409,532 million in the Western China Region, with a significant increase from the previous year[80]. - The Group's revenue decreased by approximately 19.6% from RMB 16,011.1 million for the six months ended 30 June 2021 to RMB 12,868.2 million for the six months ended 30 June 2022[142]. - The total recognized revenue from property sales for the six months ended 30 June 2022 was RMB 12,774.3 million, down from RMB 15,763.9 million in the same period of 2021[124]. Customer Engagement - User data showed a 15% increase in the number of active customers, totaling 1.2 million users as of the reporting date[10]. - User data indicates a 25% increase in new customer acquisitions, totaling 15,000 new clients in the last quarter[17]. - User data indicates a 20% increase in customer inquiries compared to the previous year, highlighting growing market interest[41]. - User data indicates a 20% increase in active users year-over-year, showcasing the effectiveness of recent marketing strategies[45]. Future Outlook - Zhenro Properties has set a future outlook with a revenue target of HKD 7 billion for the next fiscal year, reflecting a growth expectation of 20%[9]. - The company has set a revenue guidance of RMB 6 billion for the next quarter, reflecting an expected growth of 15%[17]. - The company plans to expand its market presence in Jiangxi Province, targeting a 10% market share by 2025[41]. - Future outlook includes plans to enter new markets, particularly in the coastal regions of China, to capture additional market share[45]. - The company anticipates a revenue growth guidance of approximately 15% for the upcoming fiscal year, reflecting strong market demand and operational efficiencies[45]. Land Bank and Development - The company is actively expanding its land bank, acquiring 5 new plots of land in key urban areas, increasing its total land reserves by 10%[10]. - The company has a total land bank of 1,200,000 sq.m. across various projects in Shanghai, Nanjing, and Suzhou[15]. - The total land bank in the Yangtze River Delta Region amounts to 2,992,990 square meters, with a significant portion in Zhengzhou and Wuhan[21]. - The total land bank in the Pearl River Delta Region amounts to 270,862 sq.m. with a projected value of RMB 910,812,000[47]. - The total land bank developed by the Group's subsidiaries reached 15,217,756 square meters, with significant contributions from the Western Taiwan Straits Region and the Pearl River Delta Region[55]. Strategic Initiatives - The company is investing in technology development, allocating HKD 100 million towards smart home solutions to enhance customer experience[10]. - The company is exploring strategic mergers and acquisitions to strengthen its market position, with potential targets identified in the regional market[9]. - The management emphasized a commitment to sustainability, aiming for a 30% reduction in carbon emissions by 2025 through innovative building practices[11]. - The company is focusing on sustainable development, with 40% of new projects incorporating green building technologies[17]. - The company is actively pursuing new strategies for market expansion, particularly in the Pingtan region, with projects like Pingtan Zhenro Mansion Yuexi aiming for 110,000 million by November 2020[98]. Challenges and Market Conditions - The real estate industry faced unprecedented challenges due to ongoing adjustments and the impact of the COVID-19 pandemic, leading to negative growth in overall sales for real estate enterprises[99]. - The Group's financial performance was affected by increasing financing difficulties and capital pressure within the real estate sector[99]. - The Group's core loss for the six months ended 30 June 2022 was RMB 546.9 million[94]. - The Group recorded contracted sales of RMB 21,317 million for the six months ended June 30, 2022, a decrease of 74.1% compared to the same period in 2021[113]. - The property sector in the PRC has experienced volatility, affecting the Group's ability to obtain financing[193].

Financial Performance - Zhenro Properties Group Limited reported a total revenue of HKD 5.2 billion for the fiscal year, representing a year-on-year increase of 15%[1] - The company achieved a net profit of HKD 1.1 billion, which is a 10% increase compared to the previous year[1] - The company reported a cash flow from operating activities of HKD 1.5 billion, indicating strong liquidity and financial health[1] - The group's revenue for the year ended December 31, 2021, increased by 2.4% to RMB 36,992.4 million[22] - Profit attributable to the owners of the parent company decreased by 69.5% to RMB 809.0 million[22] - Core net profit, excluding certain financial adjustments, fell by 30.9% to RMB 2,284.1 million[22] - The Group's profit for the year decreased by approximately 66.4% from RMB 3,558.9 million for the year ended 31 December 2020 to RMB 1,195.5 million for the year ended 31 December 2021[101] - The gross profit decreased by approximately 22.0% to RMB 5,382.4 million for the year ended December 31, 2021, down from RMB 6,903.9 million in 2020[89] - The gross profit margin fell by 4.5 percentage points to 14.6% in 2021, compared to 19.1% in 2020, due to lower selling prices influenced by the macro market environment and COVID-19[89] Sales and Market Expansion - User data indicates that the company has successfully sold over 3,000 residential units in the past year, reflecting a 20% increase in sales volume[1] - The Group achieved a total contracted sales amount of RMB 145.6 billion in 2021, representing a year-on-year increase of 2.6% and achieving 97.1% of the annual sales target[31] - The total contract sales area was approximately 8.8 million square meters, a decrease of about 1.1% compared to approximately 8.9 million square meters in the same period of 2020[52] - The average contract selling price was approximately RMB 16,545 per square meter, compared to RMB 15,949 per square meter in the same period of 2020[52] - The company plans to launch three new residential projects in the upcoming fiscal year, expected to generate an estimated revenue of HKD 2 billion[1] - The company is actively pursuing market expansion strategies, targeting three new cities for development in the next year[179] - A recent acquisition of a local competitor is anticipated to enhance market share by 5% and improve operational efficiencies[179] Land Bank and Development Projects - Zhenro Properties has set a target to expand its land bank by acquiring an additional 1 million square meters of land in key urban areas over the next two years[1] - As of December 31, 2021, the Group had a land bank with an aggregate GFA of 25.95 million sq.m. in 34 cities, with 82% located in first- and second-tier cities, supporting sales for 2022[33] - The Group acquired 29 parcels of land with a total estimated GFA of approximately 4.3 million sq.m. in 14 cities in 2021, with 90% of the newly acquired land located in first- and second-tier cities[32] - The company has a land bank with a total site area of 1,500,000 sq.m. across various projects in Suzhou and Hefei[181] - The company has reported a significant increase in land bank reserves, with a total area of 1,200,000 square meters across various locations in Jiangsu and Anhui provinces[183] - The company aims to enhance its market position through strategic land acquisitions and project developments[177] Technology and Innovation - Zhenro Properties is investing HKD 500 million in new technology for smart home solutions to enhance customer experience and operational efficiency[1] - Research and development investments have increased by 25%, focusing on sustainable building technologies[179] - The company aims to enhance its technological capabilities through the development of smart home technologies, with a projected investment of RMB 100 million in R&D[184] Marketing and Customer Engagement - Zhenro Properties has initiated a new marketing strategy aimed at increasing brand awareness and customer engagement through digital platforms[1] - The company plans to enhance its digital marketing efforts, aiming for a 50% increase in online engagement metrics[179] - The company is committed to enhancing customer experience through digital platforms, with a goal to improve customer satisfaction ratings by 15%[186] Financial Health and Debt Management - The net debt-to-total equity ratio as of December 31, 2021, was 85.5%, up from 64.7% at the end of 2020, indicating increased financial leverage[35] - The cash-to-short term debt ratio was approximately 1.1 times as of December 31, 2021, down from 2.2 times at the end of 2020, reflecting tighter liquidity[35] - The Group's total outstanding bank and other borrowings increased to approximately RMB 47,959.5 million as at 31 December 2021, compared to RMB 41,761.3 million as at 31 December 2020[108] - The Group's total borrowings as at 31 December 2021 amounted to approximately RMB 74,138.5 million, an increase from RMB 67,284.4 million as at 31 December 2020[110] - The weighted average financing cost of debt increased to 6.8% for the year ended December 31, 2021, compared to 6.5% in 2020[114] Awards and Recognition - The company received multiple awards, including Best Real Estate Company and Most Influential Real Estate Developer in 2021[16] - The company was recognized as one of the Top 10 Real Estate Developers in Shanghai and Top 30 by Human Capital Value in 2021[16] - The company ranked in the Top 100 Real Estate Companies by Brand Value in China[16] Challenges and Market Conditions - The tightening financing environment led to liquidity challenges, with the Group encountering difficulties in refinancing its indebtedness in the capital markets[35] - The real estate sector is expected to face continued pressure, with the government focusing on stabilizing land prices and property prices[46] - The policy is anticipated to moderately accelerate the development of the long-term rental housing market and facilitate affordable housing construction[47] - The COVID-19 pandemic has posed severe challenges to the global economy since January 2020, but the outbreak has been gradually controlled in China[164] - The Group dynamically adjusted its business and marketing strategies to drive continued recovery in sales amid the pandemic[164] Employee and Corporate Governance - As of December 31, 2021, the Group had a total of 1,467 employees, down from 1,902 employees as of December 31, 2020, indicating a reduction of approximately 23% in workforce[1] - The Group actively recruits skilled personnel through various channels, emphasizing loyalty and corporate culture[1] - The Company has adopted a share option scheme to incentivize employees and promote long-term growth[1] - The Group participates in a pension scheme for all employees in Hong Kong under the Mandatory Provident Fund Schemes Ordinance[1]

各位在线的投资者及媒体朋友大家下午好欢迎大家偷空参加振荣地产2021年全年业绩线上发布会我是本次会议的主持人梅安安今天中午公司已经对外公告2021年全年业绩而由于疫情的情况今年公司继续选择在线上进行业绩发布会接下来 由我为大家介绍在线上参与发布会的四位管理员他们分别是执行董事、董事会主席兼行政总裁黄先知先生执行董事兼董事会副主席刘伟亮先生执行董事兼财务副总裁李扬先生执行董事、副总裁兼财务总监陈伟健先生 接下来我将时间交给黄总为大家介绍业绩以及经营重点的情况有请黄总各位朋友大家好我是振隆的黄建思感谢大家今天抽空参加振隆地产的2021年前年业绩库顾会2021年对振隆来自整个中国房地产行业而言是非常不同的一年 在这期间外部经营环境发生了重大的变化资本市场开天鹅视线频频发生公司面临着前所未有的困难自四季度开始地产公司的销售受到不同程度的影响很多公司包括振隆在内已经无法在公开资本市场上再融资种种压力接踵而至公司管理层面对经济的困难没有退缩 没有逃避而是上下一心维持经营的稳定努力进行自救在此我仅代表公司由衷地感谢各位投资者及振隆团队以共施共度时间也希望借此机会向各位汇报一下公司目前的努力和进展情况 接下来我会向大家介绍振 ...

Financial Performance - Zhenro Properties Group reported a significant increase in revenue, achieving approximately HKD 3.5 billion for the first half of 2021, representing a year-on-year growth of 25%[9]. - The company reported a net profit of approximately HKD 1 billion for the first half of 2021, reflecting a 20% increase compared to the previous year[9]. - The company is committed to enhancing shareholder value through consistent dividend payments, with a proposed interim dividend of HKD 0.10 per share[9]. - Future guidance suggests a projected revenue growth of approximately 15% year-over-year, driven by new property launches and market expansion[65]. - The company reported a significant increase in user data, with 150,252 users for Tianjin Heshan Garden[98]. Market Expansion and Strategy - Zhenro Properties has expanded its land bank, acquiring new sites that will contribute to future projects, with a total land reserve of approximately 10 million square meters[9]. - The company plans to launch several new residential projects in key cities, aiming for a sales target of HKD 10 billion for the second half of 2021[9]. - Zhenro Properties is exploring potential mergers and acquisitions to strengthen its market position and diversify its portfolio[9]. - The company has outlined a strategic goal to increase its market share in tier-one cities, targeting a 15% growth in sales from these regions[9]. - The company is actively pursuing new strategies for market expansion, particularly in emerging urban areas[109]. Awards and Recognition - Zhenro Properties has received multiple awards for its design excellence, enhancing its brand reputation in the real estate market[9]. - Zhenro Properties was recognized as one of the Top 20 Real Estate Developers in China by Comprehensive Strength in 2021[29]. - The company was also ranked among the Top 5 Real Estate Developers in China by Business Performance in 2021[29]. - Zhenro Properties was awarded the Best Real Estate Company by Zhitong Caijing and Tonghuashun Finance[32]. - The company achieved the Best Green Bond (Real Estate) award at the Triple A Sustainable Capital Markets Regional Awards 2020[32]. Land Bank and Development Projects - Total land bank amounts to 10.36 million sq.m., with an attributable land bank of 5.37 million sq.m. and an average land cost of RMB6,526/sq.m. in the Yangtze River Delta region, which represents 35% of the total land bank[51]. - The company has a total land bank of 29.30 million sq.m. in first- and second-tier cities, with 82% of the land in second-tier cities and an average cost of RMB5,401/sq.m.[54]. - The company is actively expanding its land bank with 231 projects under development[53]. - The group has a total of 38 property development projects, with a significant interest attributable to the group in each project, including 100% in several key projects in Shanghai and Nanjing[59]. - The company is focusing on expanding its presence in key urban areas, which is expected to enhance its market share and revenue potential[65]. Construction and Technology Investment - Zhenro Properties is investing in technology to enhance its construction processes, with a focus on sustainable building practices and smart home features[9]. - The company is investing in innovative construction technologies to improve project delivery timelines and reduce costs[65]. - The group is committed to sustainable development practices, as evidenced by the diverse range of residential and commercial projects in its portfolio[59]. Sales Performance - Zhengzhou Chengnan Zhenro Mansion achieved a 97.90% sales rate with 212,099 square meters sold in July 2023[83]. - Wuhan Zhenro Mansion reported a 100.00% sales rate with 48,736 square meters sold in May 2022[83]. - Changsha Zhenro Fortune Center recorded a 100.00% sales rate with 145,220 square meters sold in April 2022[83]. - The company has a total land bank of 1,664,368 sq.m. in the Western China region, with an attributable interest of 1,247,219 sq.m.[70]. - The company is focusing on market expansion and new product development to enhance future performance[139].