Core Insights - The company reported a revenue of 94.92 billion yuan for the first half of 2025, representing a year-on-year growth of 19.9%, and a net profit attributable to shareholders of 11.88 billion yuan, up 16.2% year-on-year [1][3] Financial Performance - Total assets as of June 30, 2025, amounted to 1,148.7 billion yuan, with a debt-to-asset ratio of 55.3% and a net interest-bearing debt ratio of 39.2%. Cash reserves stood at 120.24 billion yuan [1] - The company's comprehensive gross margin improved to 24.0%, an increase of 1.8 percentage points year-on-year, with the gross margin for development and sales business at 15.6%, up 3.2 percentage points [4] - The average financing cost decreased by 32 basis points to 2.79%, maintaining a competitive position in the industry [4] Revenue Breakdown - The revenue from development and sales business reached 74.36 billion yuan, a growth of 25.8%, while the operating real estate business generated 12.11 billion yuan, up 5.5% [3] - The core net profit from recurring business contributed 60.2% to the total profit, indicating a diversification in profit sources [3][6] Market Position and Strategy - The company achieved a contracted sales amount of 110.3 billion yuan, ranking third in the industry, with a significant presence in high-tier cities [5] - The strategy focused on high-energy cities resulted in 93% of revenue from first and second-tier cities, with a settlement average price increase of 35.5% to 23,192 yuan per square meter [5] Second Growth Curve - The operating real estate business has become a strong growth engine, contributing stable cash flow and profits [6] - Shopping centers saw a significant increase in average daily foot traffic to 48,000 and membership growth to 72.37 million, enhancing customer engagement [7][8] Asset Management and Future Outlook - The asset management scale reached 483.5 billion yuan, with a notable increase of 21.4 billion yuan since the end of 2024 [8] - The company aims to deepen its "3+1" integrated business model, focusing on the synergy of development sales, operating real estate, and light asset management to enhance profitability and maintain its leading position in the industry [8]

Core Viewpoint - China Resources Land (01109.HK) reported a positive outlook for the second half of 2025, maintaining confidence in its annual sales targets despite a contraction in development business and transformation of commercial projects [1][4] Financial Performance - For the first half of 2025, China Resources Land achieved revenue of 94.9 billion yuan, a year-on-year increase of 19.9% [1] - The net profit attributable to shareholders was 11.9 billion yuan, up 16.2% year-on-year [1] - Regular income reached 20.6 billion yuan, growing by 2.5%, accounting for 21.7% of total revenue [1] - Core net profit contribution increased to 60.2% [1] Business Segments Development Sales Business - The development sales business contributed significantly, with a contract signing amount of 110.3 billion yuan, maintaining a top-three industry position [2] - Development business revenue was 74.4 billion yuan, reflecting a 25.8% year-on-year growth, with an improved gross margin of 15.6% [2] - Revenue from development business is expected to be highly certain, with 251.4 billion yuan locked in, of which 159.5 billion yuan is planned for settlement in the second half of the year [2] - The company acquired 18 new land parcels, all located in first- and second-tier cities, enhancing future sales potential [2] Operating Real Estate Business - The operating real estate business generated 12.1 billion yuan in revenue, a 5.5% increase year-on-year, demonstrating strong anti-cyclical characteristics [2] - Shopping centers achieved retail sales of 110.15 billion yuan, up 20.2%, with an operating profit margin of 65.9%, setting a new historical high [2] Light Asset Management Business - The light asset management business reported revenue of 8.52 billion yuan, a 6.5% increase year-on-year, supported by the China Resources Mixc management platform [3] - The company managed 125 shopping centers, with 104 projects ranking in the top three for local retail sales [3] Ecosystem Element Business - The ecosystem element business, which includes urban construction, rental housing, and cultural venue operations, generated 2.5 billion yuan in revenue, effectively supplementing short-term income [3] Strategic Outlook - The company aims to deepen the synergy among its three main business lines and ecosystem element business while transitioning from asset holder to asset manager [4] - The COO expressed optimism about market trends, citing a GDP growth rate of 5.3% in the first half of the year and the implementation of supportive policies [4] - The company remains committed to its annual sales targets, with a robust supply of projects concentrated in stable first- and second-tier cities [5]

Core Viewpoint - China Resources Land reported a revenue of approximately 94.92 billion yuan for the first half of 2025, with a net profit attributable to shareholders of 11.88 billion yuan, reflecting a year-on-year growth of 16.22% [1] Financial Performance - The company achieved an operating income of about 94.92 billion yuan for the period from January to June [1] - The net profit attributable to shareholders reached 11.88 billion yuan, marking a 16.22% increase compared to the previous year [1]

华润置地8月27日在港交所公告，上半年营收949.2亿元人民币，同比增长19.9%；净利润118.8亿元人民 币，同比增长16.2%。 ...

报告显示，上半年综合营业额为人民币949.2亿元，同比增长19.9%。其中，开发销售型业务营业额为人 民币743.6亿元，同比增长25.8%；经营性不动产业务营业额为人民币121.1亿元，同比增长5.5%，轻资 产管理业务营业额为人民币60.0亿元，同比增长1.1%，生态圈要素型业务营业额为人民币24.5亿元，同 比下降7.7%。经常性收入合计为人民币205.6亿元，同比增长2.5%，占总营业额21.7%。 上半年综合毛利率为24.0%，同比提升1.8个百分点。其中，开发销售型业务毛利率为15.6%，同比提升 3.2个百分点；经营性不动产业务毛利率为72.9%，同比提升1.4个百分点，经营性不动产业务（不含酒 店）毛利率为77.8%，同比提升0.4个百分点。 上半年，公司股东应占溢利为人民币118.8亿元，同比增长16.2%；股东应占核心溢利为人民币100.0亿 元。其中，经常性核心净利润达人民币60.2亿元，核心净利润贡献占比为60.2%。 上半年，集团实现物业签约销售额人民币1,103.0亿元，实现签约面积412万平方米。截至2025年6月30 日，集团已销售尚未结算的签约额约为人民币2,513.7亿元， ...

Core Viewpoint - China Resources Land (01109) reported a significant increase in revenue and profit for the first half of 2025, indicating strong performance in its core business segments [1] Financial Performance - The company achieved a revenue of RMB 94.921 billion, representing a year-on-year increase of 19.86% [1] - Profit attributable to shareholders was RMB 11.88 billion, up 16.21% year-on-year [1] - Earnings per share stood at RMB 1.67 [1] Business Segments - Revenue from development and sales business reached RMB 74.36 billion, a year-on-year growth of 25.8% [1] - Operating property business revenue was RMB 12.11 billion, increasing by 5.5% year-on-year [1] - Light asset management business revenue amounted to RMB 6.0 billion, with a slight increase of 1.1% [1] - Revenue from ecosystem factor business declined to RMB 2.45 billion, down 7.7% year-on-year [1] - Recurring income totaled RMB 20.56 billion, a growth of 2.5%, accounting for 21.7% of total revenue [1] Sales and Land Reserves - The company achieved contracted sales of RMB 110.3 billion, with a signed area of 4.12 million square meters in the first half of 2025 [1] - As of June 30, 2025, the company had unrecognized contracted sales of approximately RMB 251.37 billion, with an expected RMB 159.53 billion to be recognized in the second half of 2025 [1] - The company added land reserves of 1.48 million square meters in the first half of 2025, bringing total land reserves to approximately 48.95 million square meters as of June 30, 2025 [1]

格隆汇8月27日丨华润置地(01109.HK)发布公告，2025年上半年综合营业额为人民币949.2亿元，同比增 长19.9%。其中，开发销售型业务营业额为人民币743.6亿元，同比增长25.8%；经营性不动产业务营业 额为人民币121.1亿元，同比增长5.5%，轻资产管理业务营业额为人民币60.0亿元，同比增长1.1%，生 态圈要素型业务营业额为人民币24.5亿元。经常性收入合计为人民币205.6亿元，同比增长2.5%，占总 营业额21.7%。 2025年上半年，集团实现物业签约销售额人民币1,103.0亿元，实现签约面积412万平方米。截至2025年6 月30日，集团已销售尚未结算的签约额约为人民币2,513.7亿元，预计其中人民币1,595.3亿元将于2025年 下半年结算。2025年上半年，集团新增土储储备148万平方米。截至2025年6月30日，集团的总土地储备 约为4,895万平方米。 2025年上半年综合毛利率为24.0%，同比提升1.8个百分点。其中，开发销售型业务毛利率为15.6%，同 比提升3.2个百分点；经营性不动产业务毛利率为72.9%，同比提升1.4个百分点，经营性不动产业务(不 含 ...

Core Viewpoint - China Resources Land (01109) reported a significant increase in revenue and profit for the first half of 2025, indicating strong performance in its core business segments [1] Financial Performance - The company achieved a total revenue of RMB 94.921 billion, representing a year-on-year increase of 19.86% [1] - Profit attributable to shareholders was RMB 11.88 billion, up 16.21% year-on-year, with earnings per share at RMB 1.67 [1] - The comprehensive operating revenue for the first half of 2025 was RMB 94.92 billion, reflecting a growth of 19.9% [1] Business Segments - Revenue from development and sales business reached RMB 74.36 billion, marking a 25.8% increase year-on-year [1] - Operating property business revenue was RMB 12.11 billion, up 5.5% year-on-year [1] - Light asset management business revenue totaled RMB 6.0 billion, with a modest growth of 1.1% [1] - Revenue from ecosystem factor business declined to RMB 2.45 billion, down 7.7% year-on-year [1] Recurring Income - Total recurring income amounted to RMB 20.56 billion, a year-on-year increase of 2.5%, accounting for 21.7% of total revenue [1] Sales and Land Reserves - The company achieved property contracted sales of RMB 110.3 billion, with a contracted area of 4.12 million square meters [1] - As of June 30, 2025, the company had approximately RMB 251.37 billion in unsold contracted sales, with an expected RMB 159.53 billion to be recognized in the second half of 2025 [1] - The company added land reserves of 1.48 million square meters in the first half of 2025, bringing total land reserves to approximately 48.95 million square meters as of June 30, 2025 [1]

EF002 第 1 頁 共 2 頁 v 1.1.1 | 代扣所得稅信息 | | | --- | --- | | 股息所涉及的代扣所得稅 | 不適用 | | 發行人所發行上市權證/可轉換債券的相關信息 | | | 發行人所發行上市權證/可轉換債券 | 不適用 | | 其他信息 | | | 其他信息 | 不適用 | | 發行人董事 | | | 於本公告日期，本公司執行董事為李欣先生、徐榮先生、張大為先生、郭世清先生及陳偉先生；本公司非執行董事為黃挺先生、魏 | | | 成林先生及王宇航先生；以及本公司獨立非執行董事為鐘偉先生、孫哲先生、陳帆先生、梁國權先生及秦虹女士。 | | 第 2 頁 共 2 頁 v 1.1.1 | 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 | 公告全部或任何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 | | --- | --- | | | 股票發行人現金股息（可選擇貨幣）公告 | | 發行人名稱 | 華潤置地有限公司 | | 股份代號 | 01109 | | 多櫃檯股份代號及貨幣 | 不 ...

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 依 賴 該 等 內 容 而 引 致 的 任 何 損 失 承 擔 任 何 責 任。 （於開曼群島註冊成立的有限公司） （股份代號：1109） 二 零 二 五 年 中 期 業 績 公 告 摘 要 – 1 – • 董 事 會 決 議 宣 派 二 零 二 五 年 中 期 股 息 每 股 人 民 幣0.20元（折 合 每 股 港 幣0.219元），與 二 零 二 四 年 中 期 股 息 每 股 人 民 幣0.20元 持 平。 • 二 零 二 五 年 上 半 年，本 集 團 實 現 物 業 簽 約 銷 售 額 人 民 幣1,103.0億 元， 實 現 簽 約 面 積412萬 平 方 米。截 至 二 零 二 五 年 六 月 三 十 日，本 集 團 已 銷售尚未結算的簽約額約為人民幣2,513.7億元，預計其中人民幣1 ...