Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 8,571 million, a decrease from RMB 18,494 million in 2023[4] - The gross profit for the year ended December 31, 2024, was RMB 114 million, significantly down from RMB 1,766 million in 2023[4] - The loss attributable to owners of the company for the year ended December 31, 2024, was RMB 2,085 million, compared to a loss of RMB 1,319 million in 2023[4] - The group recorded a net loss of RMB 2,334,805,000 for the year ended December 31, 2024, with operating net cash outflow[11] - The company's revenue decreased by 54% from approximately RMB 18,494 million for the year ended December 31, 2023, to approximately RMB 8,571 million for the year ending December 31, 2024[67] - Property sales revenue fell by 54% from approximately RMB 18,316 million to approximately RMB 8,426 million due to industry downturn[68] - The company's gross profit was recorded at RMB 114 million, compared to a gross loss of RMB 1,766 million for the previous year[73] Assets and Liabilities - As of December 31, 2024, cash and bank balances amounted to RMB 1,480 million[2] - Total current liabilities as of December 31, 2024, were RMB 19,609 million, down from RMB 28,809 million in 2023[6] - The total non-current assets decreased to RMB 3,756 million as of December 31, 2024, from RMB 5,167 million in 2023[5] - The net assets attributable to the parent company decreased to RMB 161 million as of December 31, 2024, from RMB 2,635 million in 2023[6] - The total debt of the group as of December 31, 2024, was approximately RMB 5,195 million, a decrease from approximately RMB 7,098 million as of December 31, 2023[88] - The net capital debt ratio increased to approximately 21.3 times as of December 31, 2024, compared to approximately 1.87 times as of December 31, 2023, mainly due to a decrease in net asset value[91] Cash Flow and Financing - The group is actively seeking new financing sources to meet its financial obligations and operational needs[12] - The group plans to maintain sufficient cash through internal sales proceeds and adequate credit financing commitments to meet operational needs[93] - The group has established liquidity risk management measures, including a budgeting system and strict cost control, to ensure sufficient reserves and backup funds[93] - The group has successfully negotiated extensions or deferments of bank and other borrowings with existing lenders[13] - Total bank and other borrowings, along with preferred notes, amounted to RMB 5,194,680,000, with RMB 2,766,980,000 due within the next twelve months[112] Sales and Revenue Breakdown - Total revenue from external customers for property development was RMB 8,438,133,000, with a segment loss of RMB 1,014,939,000[22] - Confirmed property sales revenue dropped 54% from approximately RMB 18,316 million in 2023 to about RMB 8,427 million in 2024, accounting for 98% of total revenue[51] - The residential property segment accounted for 84.7% of total sales revenue in 2024, down from 92.6% in 2023, with sales of RMB 7,137,030 thousand[54] - Revenue from commercial property operations fell by 22% to approximately RMB 86 million for the year ending December 31, 2024, down from RMB 111 million in 2023[57] Operational Challenges - The group has been involved in various lawsuits, which may impact its ability to continue as a going concern[11] - The company aims to address inventory pressure as a key challenge in 2025, focusing on effective inventory reduction strategies[47] - The group is exploring opportunities to sell equity in several project development companies to generate additional cash inflow[12] Employee and Administrative Costs - As of December 31, 2024, the group had 585 employees, a decrease from 928 employees as of December 31, 2023[102] - Employee costs recognized for the year amounted to RMB 159 million, down from RMB 198 million in the previous year[102] - Administrative expenses decreased by 33% from approximately RMB 295 million to approximately RMB 198 million, primarily due to a reduction in administrative personnel[77] Governance and Compliance - The audit committee, composed of three independent non-executive directors, reviewed the annual performance for the year ending December 31, 2024[110] - The independent auditor's report indicated no opinion on the consolidated financial statements due to uncertainties related to going concern[111] - The company has complied with the corporate governance code, except for the separation of the roles of chairman and CEO[108] Future Outlook and Strategy - The group plans to accelerate property sales and has implemented measures to recover unpaid sales proceeds effectively[12] - The company aims to leverage its land reserves for future growth and market expansion strategies[60] - The company is focusing on residential and commercial developments, with a significant portion of land designated for parking and ancillary facilities[60]

Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion, representing a 15% growth compared to the previous period[8]. - Revenue for the six months ended June 30, 2024, was RMB 4,558,020 thousand, a decrease of 35% compared to RMB 7,025,033 thousand in the same period of 2023[93]. - The company's revenue for the six months ended June 30, 2024, decreased by 35.1% to approximately RMB 4,558.0 million from RMB 7,025.0 million for the same period in 2023, primarily due to sluggish sales in the real estate sector[45]. - Property sales revenue fell by 35.3% to approximately RMB 4,486.7 million for the six months ended June 30, 2024, compared to RMB 6,932.9 million for the same period in 2023[46]. - The company reported a net loss of RMB 756,418 thousand for the six months ended June 30, 2024, compared to a loss of RMB 93,602 thousand in the prior year, representing a significant increase in losses[94]. - The total comprehensive income for the six months ended June 30, 2024, was a loss of RMB 816,968,000, compared to a loss of RMB 250,441,000 for the same period in 2023, indicating a worsening of 226.5%[99]. Market and User Growth - User data showed a 20% increase in active users, reaching 500,000 by the end of the reporting period[8]. - Market expansion efforts have led to a 25% increase in market share in the Asia-Pacific region[6]. - New product launches contributed to 30% of total sales, indicating strong market demand[8]. Future Outlook and Strategy - The company provided a positive outlook, projecting a revenue growth of 10-15% for the next quarter[6]. - The company plans to enhance its digital marketing strategy, aiming for a 50% increase in online engagement[6]. - The company is exploring potential acquisitions to further strengthen its market position, with a budget of HKD 500 million allocated for this purpose[6]. - The group aims to accelerate project delivery and enhance cash flow management in response to current market challenges[22]. - The company plans to monitor development and construction timelines, property sales, and land acquisition plans based on cash inflows from existing and planned external financing opportunities[60]. Property Development and Sales - The group's recognized property sales revenue decreased by 35.3% to approximately RMB 4,486.7 million for the six months ended June 30, 2024, accounting for 98.4% of total revenue[26]. - The average contracted selling price was approximately RMB 6,817.7 per square meter, compared to RMB 7,352.3 per square meter for the same period in 2023[23]. - The total contracted sales area for the same period was approximately 0.3 million square meters, down 61.7% from approximately 0.8 million square meters in the previous year[23]. - The group delivered approximately 100,000 units and a total delivery area of about 1 million square meters in the first half of 2024[22]. Financial Position and Liabilities - As of June 30, 2024, the total debt of the group is approximately RMB 5,485.0 million, a decrease from RMB 7,097.6 million as of December 31, 2023, representing a reduction of about 22.7%[63]. - The company's cash and bank balances as of June 30, 2024, were approximately RMB 1,803.3 million, a decrease from RMB 2,006.6 million as of December 31, 2023[62]. - The net capital debt ratio as of June 30, 2024, is approximately 2.13 times, up from 1.93 times as of December 31, 2023, indicating an increase due to a decrease in net assets[65]. - The group has capital commitments of RMB 18,822 million as of June 30, 2024, compared to RMB 12,146 million as of December 31, 2023, indicating an increase of approximately 55.5%[70]. Corporate Governance and Shareholder Information - The company has adopted the corporate governance code and has complied with its provisions, except for the separation of the roles of chairman and CEO[87]. - The company confirmed that all directors and relevant employees complied with the securities trading code during the six months ended June 30, 2024[88]. - As of June 30, 2024, the company’s major shareholder, Liu Yuhui, holds 766,374,000 shares, accounting for 74.63% of the company's equity[78]. - The company has adopted a stock option plan allowing for a maximum of 100,000,000 shares to be granted, representing approximately 9.74% of the total issued shares as of June 30, 2024[77]. Operational Challenges - The group plans to actively seek policy support from financial institutions to alleviate short-term operational pressures[22]. - The company is involved in several ongoing litigation and arbitration cases as of June 30, 2024, which may impact its financial position[75]. - The company has not recognized any significant contingent liabilities related to guarantees provided for loans to subsidiaries undergoing liquidation[143]. Cash Flow and Investments - Cash flow from operating activities for the six months ended June 30, 2024, was a net outflow of RMB 901,761,000, compared to an inflow of RMB 1,999,672,000 in the same period of 2023, representing a significant decline[100]. - The company experienced a significant increase in cash flow from investing activities, reporting a net inflow of RMB 723,264,000 for the six months ended June 30, 2024, compared to an outflow of RMB 58,314,000 in the same period of 2023[101]. - The company is exploring opportunities to sell equity in several project development companies to generate additional cash inflow[106].

Financial Performance - For the six months ended June 30, 2024, the contract sales amount reached RMB 2,121.0 million[2]. - The revenue for the same period was RMB 4,558.0 million, a decrease from RMB 7,025.0 million in 2023, representing a decline of approximately 35%[3]. - Gross profit for the six months was RMB 533.9 million, down from RMB 983.2 million in 2023, indicating a decrease of about 45.5%[3]. - The loss attributable to owners of the company was RMB 817.0 million, compared to a loss of RMB 250.4 million in the same period last year, reflecting a significant increase in losses[3]. - The company reported a net loss per share of RMB 0.80 for the period, compared to RMB 0.24 in the previous year[3]. - The group recorded a net loss of RMB 756,417,000 for the six months ended June 30, 2024[9]. - The total tax expense for the six months ended June 30, 2024, was RMB 320.1 million, compared to RMB 210.1 million for the same period in 2023[25]. - The company recorded a loss of approximately RMB 756.4 million for the six months ended June 30, 2024, compared to a loss of RMB 93.6 million for the same period in 2023[62]. Assets and Liabilities - Cash and bank balances as of June 30, 2024, amounted to RMB 1,803.3 million[2]. - Total current liabilities increased to RMB 25,043.4 million from RMB 28,809.3 million in the previous year[6]. - Non-current assets decreased to RMB 4,702.8 million from RMB 5,167.1 million as of December 31, 2023[5]. - The net assets attributable to the owners of the parent company decreased to RMB 1,494.0 million from RMB 2,269.1 million[6]. - Total assets as of June 30, 2024, amounted to RMB 29,142,584 thousand, a decrease from RMB 34,046,771 thousand as of December 31, 2023[17]. - The total liabilities as of June 30, 2024, were RMB 27,415,778 thousand, compared to RMB 31,411,888 thousand at the end of 2023, reflecting a reduction of 12.5%[17]. - Total debt as of June 30, 2024, was approximately RMB 5,485.0 million, a decrease from RMB 7,097.6 million as of December 31, 2023[66]. - The net capital debt ratio increased to approximately 2.13 times as of June 30, 2024, compared to 1.93 times as of December 31, 2023, primarily due to a decrease in net assets[69]. - As of June 30, 2024, the group's bank borrowings secured by assets amounted to approximately RMB 8,235.4 million, a decrease from RMB 12,349.9 million as of December 31, 2023[72]. - The total guarantees provided by the group for loans amounted to RMB 12,673.5 million as of June 30, 2024, down from RMB 16,723.5 million[74]. Revenue Breakdown - The property development segment generated revenue of RMB 4,494,114 thousand, down from RMB 6,943,802 thousand, reflecting a decline of 35.3%[15]. - The hotel operations segment reported a profit of RMB 19,527 thousand, compared to a profit of RMB 19,807 thousand in the previous year, indicating a slight decrease of 1.4%[15]. - The company recognized impairment losses of RMB 103,868 thousand for completed properties held for sale and development properties during the period[21]. - The company's recognized property sales revenue decreased by 35.3% to approximately RMB 4,486.7 million for the six months ended June 30, 2024, accounting for 98.4% of total revenue[34]. - The average confirmed selling price per square meter for the six months ending June 30, 2024, was RMB 7,385, down from RMB 7,427 in 2023, reflecting a decrease of 0.6%[37]. - Revenue from commercial property operations for the six months ending June 30, 2024, was approximately RMB 39.6 million, a decrease of 29.4% from RMB 56 million in the same period of 2023, mainly due to economic downturn impacts[39]. - The company's revenue decreased by 35.1% from approximately RMB 7,025.0 million for the six months ended June 30, 2023, to approximately RMB 4,558.0 million for the six months ended June 30, 2024, primarily due to a downturn in the real estate market[48]. Cost and Expenses - The cost of sales for the six months ended June 30, 2024, was RMB 4,105,741 thousand, down from RMB 6,025,046 thousand, representing a decrease of 31.9%[21]. - The company's cost of sales decreased by 33.4% from approximately RMB 6,041.8 million to approximately RMB 4,024.1 million, reflecting reduced revenue due to market downturn[53]. - Sales and promotion expenses decreased by 55.1% to approximately RMB 212.2 million for the six months ended June 30, 2024, down from RMB 472.9 million for the same period in 2023, primarily due to reduced sales[56]. - Administrative expenses decreased by 26.2% to approximately RMB 136.9 million for the six months ended June 30, 2024, compared to RMB 185.6 million for the same period in 2023, attributed to a reduction in staff from 490 to 340[57]. - Financing costs decreased by 32.7% to approximately RMB 97.6 million for the six months ended June 30, 2024, down from RMB 145.1 million for the same period in 2023, due to a reduction in financing balance[59]. Strategic Initiatives - The group plans to appoint financial advisors to assist in the overall restructuring of preferred notes to reach a consensus solution with stakeholders[10]. - The group is actively negotiating with existing lenders to seek extensions or defer repayments of bank and other borrowings[10]. - A business strategy plan has been developed to accelerate property sales[10]. - The group aims to recover outstanding sales proceeds more quickly and effectively control costs and expenses[10]. - The management believes that, considering the plans and measures, the group will have sufficient working capital to meet its financial obligations within the next twelve months[10]. - The company plans to focus on market expansion and new product development to improve future performance[15]. - The company is actively pursuing new projects and expansions to strengthen its market position and increase its land portfolio[42][43]. Corporate Governance - The board did not recommend the payment of an interim dividend for the six months ended June 30, 2024, consistent with no dividend declared for the same period in 2023[82]. - The audit committee reviewed the group's unaudited interim results for the six months ended June 30, 2024, and agreed with the management on the financial reporting matters[85]. - The group has complied with the corporate governance code, except for the deviation regarding the separation of the roles of chairman and CEO[83]. - The interim report for the six months ending June 30, 2024, will be published on the Hong Kong Stock Exchange and the company's website[86].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $500 million for the fiscal year, representing a 20% growth compared to the previous year[3]. - The company reported a net profit margin of 15%, up from 12% in the previous year[3]. - Property sales revenue increased by 32.4% from approximately RMB 13,835.2 million for the year ended December 31, 2022, to approximately RMB 18,315.9 million for the year ended December 31, 2023, mainly due to an increase in delivered construction area[66]. - The company's revenue increased by 32.3% from approximately RMB 13,978.8 million in 2022 to approximately RMB 18,493.5 million in 2023, primarily due to an increase in delivered construction area[65]. - The hotel operations segment reported revenue of RMB 53.4 million in 2023, an increase from RMB 28.9 million in 2022, indicating growth in this area[65]. - Gross profit for the year was approximately RMB 1,765.8 million, compared to a gross loss of approximately RMB 1,999.6 million for the year ended December 31, 2022[71]. - The gross profit margin for the year ended December 31, 2023, was approximately 9.5%[72]. Market Expansion and Strategy - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25%[3]. - New product launches are expected to contribute an additional $100 million in revenue next year[3]. - Market expansion plans include entering three new countries, aiming for a 10% market share in each by the end of the next fiscal year[3]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $200 million allocated for potential mergers[3]. - The company plans to continue focusing on strategic land acquisitions and development projects to enhance its market position in the coming years[37]. - The company is actively pursuing new developments in the Henan province, with multiple phases of the Royal Lantai project in Zhumadian, totaling over 500,000 square meters across five phases[43]. Operational Performance - User data showed a 15% increase in active users, reaching 2 million by the end of the year[3]. - The company delivered 36,044 households in 2023, with a total delivery area of 3.9985 million square meters[19]. - The company plans to focus on inventory clearance and asset revitalization as key strategies for 2024[17]. - The company aims to enhance product quality and customer satisfaction by improving design and engineering processes[17]. - The company has a total land reserve of 9,887,906 square meters, which includes completed properties available for sale and properties under development[59]. Financial Management - The total debt as of December 31, 2023, was approximately RMB 7,097.6 million, down from approximately RMB 9,077.1 million as of December 31, 2022[85]. - Financial costs decreased by 42.9% from approximately RMB 459.3 million for the year ended December 31, 2022, to approximately RMB 262.4 million for the year ended December 31, 2023, mainly due to a reduction in interest-bearing debt[78]. - The net loss for the year ended December 31, 2023, was approximately RMB 985.5 million, compared to a net loss of approximately RMB 5,097.9 million for the year ended December 31, 2022[82]. - The group has capital commitments of RMB 12,146,000,000 as of December 31, 2023, compared to RMB 11,677,600,000 as of December 31, 2022[99]. Corporate Governance - The company has established various committees, including a remuneration committee and an audit committee, to enhance governance and oversight[114]. - The board consists of both executive and independent non-executive directors to ensure strong independence and effective independent judgment[134]. - The company has confirmed that there are no matters of non-compliance with the Corporate Governance Code by any directors or relevant employees for the year ended December 31, 2023[132]. - The company believes that incorporating good corporate governance elements into its management structure and internal control procedures is essential for effective accountability[129]. - The board consists of five directors, including two executive directors and three independent non-executive directors[139]. Risk Management - The company has established a risk management and internal control system aimed at managing significant operational risks rather than eliminating them[180]. - The board of directors will review the effectiveness of the risk management and internal control systems at least annually, considering factors such as resource adequacy and employee qualifications[185]. - The company has implemented a whistleblowing policy to enhance internal integrity management and ensure sustainable development[189]. - The internal audit and risk control functions are tasked with analyzing and independently assessing the adequacy and effectiveness of the risk management and internal control systems[184]. Shareholder Communication - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategy[194]. - The annual general meeting serves as the primary platform for communication between the company and its shareholders, encouraging attendance and proxy voting[200]. - The company encourages active participation from shareholders in its affairs to ensure they can effectively exercise their rights[195]. - Independent resolutions will be presented at the annual general meeting for significant matters, including the election of individual directors[197].

Financial Performance - For the year ended December 31, 2023, the contract sales amount reached RMB 7,922.2 million[4]. - The total revenue for the year ended December 31, 2023, was RMB 18,493.5 million, an increase from RMB 13,978.8 million in 2022[6]. - The gross profit for the year ended December 31, 2023, was RMB 1,765.8 million, compared to a gross loss of RMB 1,999.6 million in 2022[6]. - The loss attributable to owners of the company for the year ended December 31, 2023, was RMB 1,319.1 million, a significant improvement from RMB 4,149.9 million in 2022[6]. - The company reported a basic and diluted loss per share of RMB 1.28 for the year ended December 31, 2023, compared to RMB 4.04 in 2022[6]. - The group recorded a net loss of RMB 985,538,000 for the year ended December 31, 2023[16]. - Total other income and gains for 2023 amounted to RMB 85,091,000, an increase of 4.8% compared to RMB 81,138,000 in 2022[45]. - The pre-tax loss from continuing operations for 2023 was RMB 105,333,000, a significant improvement from RMB 4,498,149,000 in 2022[53]. - The total tax expense for the year was RMB 880,205,000, an increase of 46.8% from RMB 599,733,000 in 2022[53]. - The company reported a basic loss per share of RMB (1,319,083,000) for 2023, compared to RMB (4,149,888,000) in 2022[60]. Assets and Liabilities - As of December 31, 2023, cash and bank balances amounted to RMB 2,006.6 million[4]. - The total current liabilities as of December 31, 2023, were RMB 28,809.3 million, down from RMB 43,490.5 million in 2022[11]. - The total assets less current liabilities amounted to RMB 5,237.5 million as of December 31, 2023[11]. - The net assets attributable to the owners of the parent company decreased to RMB 2,269.1 million from RMB 3,744.4 million in 2022[11]. - The total assets of the group as of December 31, 2023, amounted to RMB 34,046,771 thousand, a decrease from RMB 54,023,987 thousand in 2022[32][38]. - The total liabilities of the group as of December 31, 2023, were RMB 31,411,888 thousand, down from RMB 48,582,247 thousand in 2022[32][38]. - The total amount of taxes payable as of December 31, 2023, was RMB 2,094,888,000, an increase of 25.9% from RMB 1,663,925,000 in 2022[55]. - The total interest-bearing bank and other borrowings decreased to RMB 6,225,497 million in 2023 from RMB 8,213,106 million in 2022, a reduction of about 24.2%[66]. Cash Flow and Financing - The group is actively seeking new financing sources to ensure cash flow for ongoing projects[18]. - The ability to continue as a going concern depends on generating sufficient financing and operational cash flow[18]. - The group has not repaid principal amounts totaling RMB 860,104,000 for certain priority notes by their scheduled repayment dates[16]. - The board has implemented several plans to improve liquidity and financial condition, including appointing financial advisors for debt restructuring[17]. - The group plans to maintain sufficient cash flow through internal sales proceeds and adequate credit financing commitments to meet operational needs[140]. - The group has a projected completion area of 1,388,128 square meters in Mianyang, expected to be completed by January 2030[104]. Property Sales and Development - Property sales contributed RMB 18,315,910 thousand to the total revenue in 2023, compared to RMB 13,835,248 thousand in 2022, marking a growth of about 32.5%[36]. - The average contract selling price reached RMB 7,216.1 per square meter for the year ended December 31, 2023[4]. - The total area of confirmed property sales in 2023 was 2,528,305 square meters, compared to 1,780,708 square meters in 2022[82]. - The total land reserve of the group amounts to 9,887,906 square meters, including both completed and ongoing development projects[106]. - The group confirmed employee costs for the year ended December 31, 2023, were RMB 197.5 million, down 41.2% from RMB 335.8 million in 2022, indicating a significant reduction in workforce expenses[153]. Market Outlook and Strategy - The company anticipates 2024 to be a challenging year, emphasizing the need for sustained development opportunities[74]. - The group aims to accelerate property sales as part of its business strategy plan[17]. - The group must successfully implement its business strategy, including accelerating property sales and managing receivables, to improve its financial situation[168]. - The company is actively pursuing new strategies for market expansion through various residential and commercial projects in key urban areas[96]. Corporate Governance and Compliance - The group has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[161]. - There were no significant events after the balance sheet date up to the announcement date[155]. - The independent auditor, Ernst & Young, did not express an opinion on the consolidated financial statements due to uncertainties related to going concern[165].

Financial Performance - The company reported a revenue of HKD 1.2 billion for the first half of 2023, representing a 15% increase compared to the same period last year[1]. - The company provided a positive outlook for the second half of 2023, projecting a revenue growth of 20% year-over-year[1]. - The company's revenue increased by 9.0% from approximately RMB 6,442.2 million for the six months ended June 30, 2022, to approximately RMB 7,025.0 million for the six months ended June 30, 2023, primarily due to an increase in property deliveries[45]. - Property sales revenue rose by 8.9% from approximately RMB 6,363.9 million to approximately RMB 6,932.9 million, driven by increased project deliveries in the first half of 2023[46]. - The company reported a loss of approximately RMB 93.6 million for the six months ended June 30, 2023, compared to a profit of approximately RMB 46.6 million for the same period in 2022[63]. - The company's gross profit decreased from approximately RMB 1,028.6 million to approximately RMB 983.2 million, with a gross margin of 14% for the six months ended June 30, 2023, down from 16% in the previous year[52][53]. - The pre-tax profit from continuing operations for the six months ended June 30, 2023, was RMB 116,500 thousand, a decrease of 31.12% from RMB 169,338 thousand in the same period of 2022[155]. Market Expansion and Strategy - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by 2025[1]. - New product launches are expected to contribute an additional HKD 300 million in revenue by the end of 2023[1]. - A new marketing strategy is being implemented, expected to increase brand awareness by 50% within the next six months[1]. - The group is expanding its presence in various cities, including Chengdu, Chongqing, and Urumqi, with multiple residential and commercial projects[32]. - The company is actively expanding its footprint in cities like Meishan and Mianyang, with multiple projects in various stages of development[36]. - The company is focused on residential and commercial developments, with a significant portion of projects including parking facilities and ancillary services[39]. Operational Efficiency - The company aims to reduce operational costs by 15% through efficiency improvements in the next fiscal year[1]. - Research and development expenses increased by 30%, totaling HKD 150 million, focusing on innovative technologies[1]. - Selling and promotional expenses increased by 41.3% from approximately RMB 334.6 million to approximately RMB 472.9 million, primarily due to higher commissions paid to third-party sales agents[56]. - The group aims to enhance team building capabilities to address challenges in the second half of 2023[15]. Financial Position and Liabilities - As of June 30, 2023, the company's cash and bank balances were approximately RMB 3,334.3 million, down from RMB 3,656.9 million as of December 31, 2022[66]. - As of June 30, 2023, the total debt of the group was approximately RMB 8,040.8 million, a decrease from RMB 9,077.1 million as of December 31, 2022[67]. - The net asset liability ratio as of June 30, 2023, was approximately 1.12 times, up from 0.99 times as of December 31, 2022, primarily due to a decrease in net assets[72]. - The total guarantees provided by the group amounted to RMB 16,723.5 million as of June 30, 2023, compared to RMB 15,295.0 million as of December 31, 2022[78]. - The group had 1,074 employees as of June 30, 2023, a decrease from 1,154 employees as of June 30, 2022[83]. Project Development and Land Reserves - The total land reserve area of the group as of June 30, 2023, was approximately 12,349,837 square meters[31]. - The group has a total of 39 projects with various land areas, including a significant project in Meishan with an area of 256,303 square meters, expected to be completed by November 2020[35]. - The company has a total of 12 projects under development, with a combined land area of approximately 1,500,000 square meters[38]. - The group is developing the Chengdu Tianfu Lantai project with a site area of 159,963 square meters, expected to be completed by December 2022[31]. Corporate Governance and Shareholder Information - The board of directors does not recommend the payment of an interim dividend for the six months ending June 30, 2023[101]. - The company has adopted a stock option plan allowing for a maximum of 100,000,000 shares to be granted, representing approximately 9.74% of the total issued shares as of June 30, 2023[88]. - The company has confirmed that all directors and relevant employees have adhered to the standard code of conduct during the reporting period[104]. - The final controlling shareholders have agreed to continue acting in concert and maintain control over the group[3]. Challenges and Future Outlook - The company recorded a net cash outflow from investing activities of RMB 58,314,000, significantly improved from RMB 573,749,000 in the prior year[127]. - The management's ability to continue as a going concern depends on generating sufficient financing and operating cash flow[137]. - The group is actively seeking to restructure its priority notes and reach a consensus solution with stakeholders[136]. - The group aims to accelerate property sales as part of its business strategy plan[136].

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。 Leading Holdings Group Limited 領 地 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：6999） 截至2023年6月30日止六個月 之中期業績公告 中期業績及營運概要 ‧ 截至2023年6月30日止六個月，合約銷售金額達到人民幣5,968.2百萬元。 ‧ 截至2023年6月30日止六個月，合約銷售建築面積為0.8百萬平方米。 ‧ 截至2023年6月30日止六個月，收益達到人民幣7,025.0百萬元。 ‧ 截至2023年6月30日止六個月，毛利達到人民幣983.2百萬元。 ‧ 截至2023年6月30日止六個月，歸屬於本公司所有者的虧損達到人民幣 250.4百萬元。 ...

Financial Performance - The company reported a revenue of HKD 1.2 billion for the fiscal year, representing a 15% increase compared to the previous year[1]. - The group's revenue for the year reached RMB 13,978.8 million, a decrease of 7.1% year-on-year[15]. - The net loss for the group was RMB 5,097.9 million, representing a significant decline of 900.6% year-on-year[15]. - Contract sales amounted to RMB 13,721.5 million, down 40.4% compared to the previous year, primarily due to adverse macroeconomic conditions and the impact of COVID-19[21]. - Property sales revenue decreased by 7.1% to approximately RMB 13,835.2 million, accounting for 99.0% of the total revenue[25]. - The company's total revenue decreased by 7.1% from approximately RMB 15,054.7 million in 2021 to approximately RMB 13,978.8 million in 2022, primarily due to the adverse effects of the COVID-19 pandemic on property sales[66]. - Revenue from commercial property operations decreased by 1.1% from approximately RMB 104.4 million in 2021 to approximately RMB 103.3 million in 2022, attributed to a decline in rental occupancy rates[68]. - Hotel operations revenue dropped by 41.3% from approximately RMB 49.2 million in 2021 to approximately RMB 28.9 million in 2022, significantly impacted by the COVID-19 pandemic[70]. Market Expansion and Strategy - User data showed a growth of 25% in active users, reaching 2 million by the end of the fiscal year[1]. - Market expansion efforts led to a 20% increase in market share in the Asia-Pacific region[1]. - The company completed an acquisition of a local competitor for HKD 500 million, expected to enhance operational capabilities[1]. - A new strategic partnership was formed with a leading tech firm to co-develop advanced solutions, aiming to increase market competitiveness[1]. - The company plans to open five new retail locations in key urban areas, aiming to boost customer engagement and sales[1]. - The company aims to enhance its operational precision and management effectiveness in 2023 to improve performance[18]. - The focus for 2023 includes building an integrated management system and enhancing marketing strategies to drive recovery and growth[16][17]. Product Development and Innovation - New product launches contributed to 30% of total sales, with the introduction of three major products in the last quarter[1]. - The company invested HKD 200 million in R&D, focusing on innovative technologies to enhance product offerings[1]. - The gross profit margin improved to 40%, up from 35% in the previous year, due to cost optimization strategies[1]. Property Sales and Development - The average contracted sale price was approximately RMB 7,144.0 per square meter, down from RMB 8,446.7 per square meter in the previous year[21]. - The average confirmed property sales price slightly increased to approximately RMB 7,770 per square meter from RMB 7,685 per square meter in the previous year[25]. - The contribution of contract sales from the Chengdu Economic Circle and Sichuan Province was 82.1% of the total contract sales[21]. - The total value of completed unsold properties as of December 31, 2022, was RMB 5,424.9 million, an increase of 43.0% from RMB 3,792.9 million in 2021[30]. - The value of properties under development decreased by 22.0% to RMB 30,958.6 million as of December 31, 2022, down from RMB 39,768.6 million in 2021[31]. - The total confirmed construction area for properties sold in 2022 was 1,780,708 square meters, down from 1,938,482 square meters in 2021[27]. Corporate Governance - The company emphasizes the importance of good corporate governance elements in its management structure and internal control procedures to ensure effective accountability[128]. - The company has adopted the Corporate Governance Code as outlined in Appendix 14 of the Listing Rules, with compliance reported for the year ending December 31, 2022, except for a deviation regarding the separation of the roles of Chairman and CEO[132]. - The company believes that having a balanced board composed of executive and independent non-executive directors is essential for effective independent judgment[134]. - The board consists of six members, including three executive directors and three independent non-executive directors[137]. - The audit committee held two meetings during the year ending December 31, 2022, reviewing financial performance and internal controls[147]. - The company has established various board committees to assist in fulfilling its responsibilities and overseeing specific areas of business[145]. Financial Position and Risks - As of December 31, 2022, the group's cash and bank balances were approximately RMB 3,656.9 million, a decrease from RMB 5,223.8 million on December 31, 2021[87]. - Total debt as of December 31, 2022, was approximately RMB 9,077.1 million, down from RMB 11,974.9 million on December 31, 2021, with RMB 6,137.7 million recorded at fixed interest rates[88]. - The net capital debt ratio as of December 31, 2022, was approximately 0.99 times, an increase from 0.53 times on December 31, 2021, primarily due to losses reducing total equity[92]. - The group faced credit risk related to trade receivables and cash deposits, with the maximum credit risk equal to the book value of these financial assets[93]. - The group plans to maintain sufficient cash through internal sales and adequate credit financing commitments to meet operational needs[94]. - The group has no significant acquisitions or disposals of subsidiaries, associates, or joint ventures planned for the year[104]. - The company faces significant uncertainties regarding its ability to continue as a going concern due to financial difficulties[177]. Employee and Management - As of December 31, 2022, the group had 1,177 employees, a decrease from 1,249 employees as of December 31, 2021[105]. - Employee costs recognized for the year ended December 31, 2022, amounted to RMB 335.8 million, down from RMB 627.9 million in the previous year[105]. - The group has implemented a regular review system to assess employee performance, which influences salary increases, bonuses, and promotions[105]. - The group contributes to mandatory social security funds for employees in China, covering pension, medical, unemployment, personal injury, maternity insurance, and housing provident fund[105]. Shareholder Relations - The company maintains ongoing communication with shareholders to enhance investor relations and understanding of business performance and strategies[193]. - The company has established multiple channels for continuous dialogue with shareholders, including timely publication of corporate communications[195]. - The company encourages shareholders to attend annual general meetings and provides necessary information for informed decision-making[199].

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。 Leading Holdings Group Limited 領 地 控 股 集 團 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：6999） 截至2022年12月31日止年度之 年度業績公告 年度業績及營運概要 • 截至2022年12月31日止年度，合約銷售金額達到人民幣13,721.5百萬元。 • 截至2022年12月31日止年度，合約銷售建築面積為1.9百萬平方米。 • 截至2022年12月31日止年度，收益達到人民幣13,978.8百萬元。 • 截至2022年12月31日止年度，毛損達到人民幣1,999.6百萬元。 • 截至2022年12月31日止年度，歸屬於本公司擁有人的虧損達到人民幣 4,149.9百萬元。 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 1.2 billion for the first half of 2022, representing a 25% year-over-year growth[14]. - The company reported a revenue increase of 49% from approximately RMB 4,311.9 million for the six months ended June 30, 2021, to approximately RMB 6,442.2 million for the six months ended June 30, 2022, primarily due to increased property sales[89]. - Property sales revenue rose by 50.4% from approximately RMB 4,230.4 million to approximately RMB 6,363.9 million, attributed to completed projects and increased construction area[92]. - The gross profit for the six months ended June 30, 2022, was approximately RMB 1,028.6 million, compared to RMB 875.3 million for the same period in 2021[97]. - The gross profit margin decreased to approximately 16% for the six months ended June 30, 2022, down from 20.3% for the same period in 2021[98]. - The net profit attributable to the parent company for the six months ended June 30, 2022, was RMB 3,899,000, a significant decrease of 94.7% from RMB 73,851,000 in the previous year[171]. - The company recorded a profit of approximately RMB 46.6 million for the six months ended June 30, 2022, down from RMB 125.3 million for the same period in 2021[109]. - The company reported a pre-tax profit of RMB 169,338,000, down 56.9% from RMB 393,014,000 in the same period last year[171]. - The company did not declare an interim dividend for the six months ended June 30, 2022[162]. User and Market Growth - User data showed a 15% increase in active users, reaching 2 million by the end of the reporting period[14]. - The company provided a positive outlook for the next quarter, projecting a revenue growth of 20% based on current market trends and user acquisition strategies[14]. - Market expansion plans include entering two new regions in Asia, which are projected to increase market share by 10% over the next year[14]. Product Development and Innovation - New product launches are expected to contribute an additional HKD 300 million in revenue, with a focus on enhancing user experience and expanding product offerings[14]. - The company is investing in new technology development, allocating HKD 50 million towards R&D initiatives aimed at improving operational efficiency[14]. Cost Management and Efficiency - The company reported a net profit margin of 18%, reflecting improved cost management and operational efficiencies[14]. - Cost control measures have resulted in a significant decrease in both rate and absolute value compared to the previous year[26]. - Sales costs increased by 57.5% from approximately RMB 3,436.6 million to approximately RMB 5,413.5 million, mainly due to completed projects and increased construction area[96]. - Administrative expenses decreased by 21.7% from approximately RMB 279.7 million for the six months ended June 30, 2021, to approximately RMB 218.9 million for the six months ended June 30, 2022, mainly due to a reduction in employee count from 1,401 to 895[103]. Strategic Initiatives - The company is considering strategic acquisitions to enhance its portfolio, with potential targets identified in the technology sector[14]. - A new marketing strategy has been implemented, aiming to increase brand awareness and customer engagement, with a budget of HKD 100 million allocated for the campaign[14]. - The management emphasizes the importance of maintaining positive confidence in the market, government, and stakeholders to support economic recovery[27]. Real Estate and Property Management - The group's contracted sales amount reached RMB 8,813.2 million for the six months ended June 30, 2022, a decrease of 33.9% compared to the same period in 2021[26]. - Total contracted sales area for the six months ended June 30, 2022, was approximately 1.2 million square meters, a decrease of about 23% compared to 1.5 million square meters for the same period in 2021[31]. - Recognized property sales revenue increased by 50.4% to approximately RMB 6,363.9 million for the six months ended June 30, 2022, compared to RMB 4,230.4 million for the same period in 2021, accounting for 98.8% of total revenue[42]. - The average selling price of recognized property sales decreased to RMB 8,219 per square meter from RMB 9,382 per square meter for the same period in 2021[42]. - The total land reserve of the group as of June 30, 2022, is approximately 14,982,165 square meters[57]. Financial Position and Liquidity - Cash flow from operations increased by 30%, totaling HKD 400 million, providing a strong liquidity position for future investments[14]. - Total debt as of June 30, 2022, was approximately RMB 10,296.6 million, a decrease from RMB 11,974.9 million as of December 31, 2021[116]. - The net capital debt ratio was approximately 0.5 times as of June 30, 2022, compared to 0.6 times as of December 31, 2021, indicating an improvement in the company's capital structure[120]. - Cash and bank balances were approximately RMB 4,503.4 million as of June 30, 2022, down from RMB 5,223.8 million as of December 31, 2021[115]. Employee and Governance - The group had 1,154 employees as of June 30, 2022, a decrease of 21.6% from 1,473 employees as of June 30, 2021[135]. - The group has maintained compliance with corporate governance codes, except for the separation of roles between the chairman and CEO, which is deemed appropriate under current circumstances[140]. - The group has adopted a share option scheme to reward eligible participants for their contributions, but no options were granted, exercised, canceled, or lapsed under the scheme as of June 30, 2022[145]. Shareholding and Ownership - As of June 30, 2022, Liu Yuhui holds 766,374,000 shares, representing 74.63% of the company's equity[146]. - The company has a significant concentration of ownership, with major shareholders holding over 74% of the equity[152]. - Liu Yuhui's interests are tied to controlled companies, indicating a strong influence over corporate decisions[155].