Financial Performance - For the six months ended June 30, 2024, the group achieved a total revenue of approximately RMB 102.1 billion, a year-on-year decrease of about 54.9%[4] - The group recorded a pre-tax loss of approximately RMB 10.8 billion during the same period[4] - The company reported a net loss of RMB 15,064 million for the six months ended June 30, 2024, compared to a net loss of RMB 51,461 million for the same period in 2023[21] - Revenue for the first half of 2024 was RMB 102,102 million, a decrease of 54.9% from RMB 226,309 million in the first half of 2023[13] - The cost of sales for the first half of 2024 was RMB 103,806 million, down 58.7% from RMB 250,572 million in the previous year[13] - The company incurred a gross loss of RMB 1,704 million in the first half of 2024, compared to a gross loss of RMB 24,263 million in the same period of 2023[13] - The group has proposed an offshore debt restructuring plan involving approximately USD 9.4 billion in senior notes, HKD 6.9 billion in convertible bonds, and approximately USD 1.9 billion and HKD 24 billion in bank and other borrowings[24] - The pre-tax loss for the first half of 2024 was approximately RMB 10,831 million, an improvement from a pre-tax loss of RMB 46,148 million in the same period of 2023[68] - The loss attributable to shareholders for the first half of 2024 was approximately RMB 12,842 million, compared to 48,932 million in the same period of 2023[69] Sales and Deliveries - The total contracted sales amount attributable to the company's shareholders was approximately RMB 26 billion, corresponding to a contracted sales area of about 2.65 million square meters[4] - The group delivered over 150,000 housing units, with a total delivery area of approximately 18.22 million square meters across 29 provinces and 178 cities[7] - Property sales accounted for RMB 98,829 million, down 55.2% from RMB 220,803 million in the previous year[30] - The average sales price of delivered properties in the first half of 2024 was approximately RMB 7,725 per square meter, excluding VAT[62] Cash Flow and Liquidity - The group's total cash balance as of June 30, 2024, was approximately RMB 44.8 billion, with total borrowings amounting to RMB 250.2 billion[4] - Operating cash flow for the first half of 2024 was a net outflow of RMB 185 million, compared to a net inflow of RMB 3,386 million in the first half of 2023[17] - The company’s cash and cash equivalents at the end of June 2024 were RMB 6,698 million, a decrease from RMB 101,115 million at the end of June 2023[18] - The total amount of the company's priority notes, convertible bonds, corporate bonds, and bank loans was RMB 250,152 million, with RMB 203,546 million classified as current liabilities[21] - The group is actively considering various debt management measures to alleviate short-term liquidity pressure[84] Expenses and Cost Management - Marketing and administrative expenses were approximately RMB 4.9 billion, a year-on-year decrease of 50.8%[4] - The company has seen a 25.3% reduction in management expenses compared to the same period last year, improving operational efficiency[8] - The cost of sales, marketing, and administrative expenses totaled RMB 108,910 million for the six months ended June 30, 2024, down from RMB 261,133 million in 2023[53] Debt and Liabilities - As of June 30, 2024, the total debt of the group includes RMB 147,287 million that has defaulted or cross-defaulted[22] - Certain debts amounting to RMB 147.3 billion were in default or cross-default as of June 30, 2024[85] - The total liabilities after inter-segment eliminations as of June 30, 2024, were RMB 828,305 million, a slight decrease from RMB 899,597 million as of December 31, 2023, indicating a reduction of about 7.9%[32][34] Strategic Initiatives - The company is actively exploring new businesses in construction technology and property management, aiming to enhance cost control and adapt to market changes[9] - The company is implementing a "three guarantees" strategy focusing on ensuring housing delivery, operational stability, and credit protection[6] - The group plans to actively adjust sales and pre-sale activities in response to market changes and aims to recover cash flow from sales and receivables[24] - The group intends to revitalize underperforming assets, including hotels and office buildings, to generate more cash inflow[24] Governance and Compliance - The independent auditor was unable to express a conclusion regarding the appropriateness of the going concern basis for preparing the interim financial information due to significant uncertainties[88] - The company adhered to the corporate governance principles outlined in the Hong Kong Stock Exchange Listing Rules, except for a delay in obtaining appropriate insurance arrangements for directors due to ongoing discussions with insurers[91] - No violations were reported under the standard code for securities trading by directors during the six months ending June 30, 2024[93] Employee and Shareholder Information - As of June 30, 2024, the group employed approximately 29,261 full-time employees[81] - The company did not declare an interim dividend for the six months ended June 30, 2024, consistent with no dividend declared in 2023[56] - The company's shares have been suspended from trading since April 2, 2024, and will remain suspended until further notice[109]

Financial Performance - For the year ended December 31, 2023, the group achieved a contract sales amount attributable to shareholders of approximately RMB 174.3 billion, with a contract sales area of about 21.7 million square meters[4]. - The total revenue for the year was approximately RMB 401 billion, representing a year-on-year decrease of about 6.8%[4]. - The group reported a pre-tax loss of approximately RMB 167.3 billion for the year[4]. - The company reported a total revenue of RMB 401,015 million for 2023, a decrease of 6.8% compared to RMB 430,371 million in 2022[15]. - The company incurred a net loss of RMB 200,962 million for the year, compared to a loss of RMB 2,962 million in 2022, indicating a substantial decline in financial performance[15][19]. - The basic and diluted loss per share attributable to shareholders was RMB (6.49) for 2023, compared to RMB (0.26) in the previous year[15]. - The company reported a significant increase in financial asset impairment losses, totaling RMB 37,243 million in 2023, compared to RMB 3,059 million in 2022[15]. - The total segment performance showed a loss of RMB 161,782 million for 2023, compared to a profit of RMB 10,059 million in 2022, indicating a significant decline in profitability[33][35]. - The company recorded a pre-tax loss of approximately RMB 167,253 million in 2023, compared to a pre-tax profit of RMB 5,361 million in 2022[69]. - The loss attributable to shareholders for 2023 was approximately RMB 178,400 million, significantly higher than RMB 6,052 million in 2022[69]. Revenue Breakdown - Revenue from property sales decreased to RMB 391.25 million in 2023 from RMB 417.30 million in 2022, a decline of approximately 6.3%[30]. - Revenue from technology construction services fell to RMB 5.39 million in 2023 from RMB 7.99 million in 2022, representing a decrease of about 32.5%[30]. - The revenue from external customers in the real estate development segment was RMB 391,251 million, while the technology construction segment generated RMB 5,391 million, and other segments contributed RMB 4,373 million, totaling RMB 401,015 million[33]. - Revenue from real estate development decreased by 6.2% to approximately RMB 391,251 million in 2023, primarily due to a reduction in property deliveries[62]. - Revenue from technology construction fell by 32.6% to approximately RMB 5,391 million in 2023, attributed to a decline in new business volume due to the downturn in the real estate market[63]. Cash and Debt Management - As of December 31, 2023, the group had total cash of approximately RMB 63.8 billion, with total borrowings reduced to approximately RMB 249.6 billion[4]. - The total debt of the company reached RMB 249,649 million, with RMB 192,373 million classified as current liabilities, highlighting liquidity challenges[19]. - The company faced defaults on RMB 141,982 million of its total debt as of December 31, 2023, raising concerns about its ability to continue as a going concern[20]. - The company’s cash and cash equivalents stood at RMB 7,130 million, with restricted cash amounting to RMB 56,686 million, indicating tight liquidity conditions[19]. - The company’s total liabilities decreased to RMB 19,359 million in 2023 from RMB 32,319 million in 2022, a decline of about 40.1%[45]. - The company reported a decrease in other payables related to pre-sale properties, down to RMB 58,656 million in 2023 from RMB 66,087 million in 2022, a decline of about 11.3%[42]. - The company’s interest payments on priority notes decreased to RMB 2,514 million in 2023 from RMB 3,914 million in 2022, a reduction of approximately 35.7%[43]. - The group is actively managing debt risks and engaging in discussions for debt restructuring and financing cost reduction[8]. - The proposed offshore debt restructuring involves approximately $9.4 billion in US dollar-denominated senior notes, HK$6.9 billion in convertible bonds, and around $1.9 billion and HK$24 billion in bank and other borrowings[22]. Operational Highlights - The group delivered over 600,000 housing units, with a total delivery area of approximately 71.62 million square meters across 249 cities[7]. - The group aims to maintain operational stability and has seen a 20.1% reduction in management expenses compared to the previous year[8]. - The company is committed to the "three guarantees" strategy: ensuring housing delivery, maintaining operations, and preserving credit[6]. - The group aims to actively adjust sales and pre-sale activities in response to market changes, focusing on core areas in the Chinese real estate market[22]. - The group plans to closely monitor the construction progress of real estate development projects to ensure timely completion and delivery of pre-sold properties[24]. - The group intends to revitalize underperforming assets, including hotels and office buildings, to generate more cash inflow[22]. - The group is facing significant liquidity pressure and is implementing various plans to alleviate this pressure and improve financial conditions[78]. - The group aims to enhance cash flow safety and actively manage stagnant assets while strictly controlling expenditure[82]. Corporate Governance and Compliance - The audit committee reviewed the annual performance and assisted the board in financial reporting procedures and risk management[91]. - The company adhered to good corporate governance principles throughout the year ended December 31, 2023, except for one instance of non-attendance at the annual general meeting[93]. - The company did not recommend or declare any dividends for the years ended December 31, 2023, and 2022[56]. - The company has not purchased, repurchased, sold, or redeemed any shares during the year ended December 31, 2023[107]. - The company’s shares were suspended from trading on April 2, 2024, until further notice[113]. Shareholder Information - The company issued 351 million shares at a price of HKD 0.77 per share on September 4, 2023, increasing the total issued shares to 27,988 million[50]. - As of December 31, 2023, a total of 165,746,992 shares were granted under the share incentive plan, net of exercised and lapsed awards[99]. - The total number of shares held under the share incentive plan by the trustee was 283,259,032 shares as of December 31, 2023[99]. - The total number of shares available for grant under the stock option plans as of January 1, 2023, is 2,048,830,798 shares[100]. - No stock options were granted under the plans during the year ended December 31, 2023[100].

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- DigiAsia Corp. (NASDAQ: FAAS) ("DigiAsia" or the "Company"), a leading Fintech as a Service ("FaaS") ecosystem provider, today announced that Gulzar Azad, an accomplished technology leader and entrepreneur, is DigiAsia's first appointee as a strategic advisor to its recently established AI strategic advisory board. DigiAsia's formation of an advisory board serves a critical purpose in navigating the trajectory of the Company as it rapidly introduces AI technology ...

Financial Performance - The company's revenue for the first half of 2023 was approximately RMB 226.31 billion, representing a year-on-year increase of 39.4%[23]. - The company reported a core net loss attributable to shareholders of approximately RMB 45.35 billion for the six months ended June 30, 2023[23]. - The group recorded a pre-tax loss of approximately RMB 46,148 million in the first half of 2023, compared to a pre-tax profit of approximately RMB 5,358 million in the same period of 2022[81]. - The net loss attributable to shareholders was RMB 48,932 million, compared to a profit of RMB 612 million in the previous year[161]. - The company reported a significant reduction in retained earnings, which fell to RMB 80,371 million from RMB 129,257 million[158]. - The company incurred a financial asset impairment loss of RMB 6,662 million, up from RMB 302 million in 2022[160]. - The company reported a gross loss of RMB 24,263 million compared to a gross profit of RMB 17,210 million in the same period last year[160]. - The company reported a net profit margin of 12% for the last fiscal year, with a target to increase it to 15% in the next year[52]. Sales and Market Performance - The company achieved a contract sales amount attributable to shareholders of approximately RMB 128.76 billion in the first half of 2023, reflecting a challenging sales performance due to weakened market expectations and soft demand[24]. - The overall market expansion strategy includes targeting emerging cities and regions with high growth potential[43]. - The company's contract sales in regions outside Guangdong accounted for 79% of total sales, indicating efforts in regional diversification[34]. - Approximately 63% of the contract sales were from third- and fourth-tier cities, while 25% came from second-tier cities, highlighting the company's focus on lower-tier markets[34]. - The group faced significant challenges in pre-sale performance, particularly since April 2023, with no signs of recovery as of the report date[172]. Project Development and Operations - The company has 3,134 projects at various development stages, with 3,103 located in mainland China[38]. - The total land reserve in mainland China amounted to approximately 171.0 million square meters, with 79% located outside Guangdong province[36]. - The company is focusing on expanding its market presence with multiple projects across various cities, including Xi'an, Ningbo, and Sanya[47]. - The company is committed to delivering properties to buyers on time, prioritizing the use of available funds for the construction of pre-sold properties[173]. - The company has ongoing projects with a total saleable area of 1,026,325 square meters expected to be completed in the fourth quarter of 2025[50]. Financial Position and Debt Management - As of June 30, 2023, the total interest-bearing debt decreased to RMB 257.91 billion, with a net debt ratio of 50.1%, maintaining a relatively low level in the industry[27]. - The net gearing ratio increased from approximately 40.0% as of December 31, 2022, to approximately 50.1% as of June 30, 2023[87]. - The group faced significant liquidity pressure and is implementing various plans to alleviate this pressure and improve financial conditions[93]. - The total amount of the group's priority notes, convertible bonds, corporate bonds, and bank and other borrowings was RMB 257,905 million, with RMB 108,703 million due within 12 months[106]. - The company is negotiating with bondholders to extend the maturity of certain domestic corporate bonds due within 12 months[173]. Technology and Innovation - The company is actively involved in the development of construction robots and modern agriculture to enhance operational efficiency and product quality[5][7]. - The company has established a technology construction group to promote smart construction systems[5]. - New product developments and technologies are being explored to enhance project offerings and customer satisfaction[43]. - The company is investing in new technology development, with a budget allocation of $200 million for innovative construction methods[55]. Corporate Social Responsibility - The company has contributed over RMB 10 billion in charitable donations and has assisted 490,000 people in poverty alleviation efforts[8]. - The company acknowledges the significant changes in the external environment since 2021 and is focused on addressing liquidity pressures while fulfilling its social responsibilities[27]. Shareholder Information - As of June 30, 2023, the total number of issued shares was 27,637,858,596 shares[122]. - Beston Limited holds 14,539,618,535 shares, representing 52.60% of the total issued shares[121]. - The total number of options available for grant under the share option plans as of June 30, 2023, is 2,048,830,798 shares[128]. - The company issued 350,649,350 shares at a subscription price of HKD 0.77 per share, totaling HKD 270 million, to offset a debt of HKD 318.78 million[142].

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。 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 碧 桂 園 控 股 有 限 公 司 （於開曼群島註冊成立之有限公司） （股份代號：2007） 截至2023年6月30日止六個月 中期業績 財務摘要 • 截至2023年6月30日止六個月，本集團連同其合營企業及聯營公司，共實現 歸屬本公司股東權益的合同銷售金額約人民幣1,287.6億元，歸屬本公司股 東權益的合同銷售面積約1,646萬平方米。 • 期內，本集團權益合同銷售回款約為人民幣1,185.0億元，回款率達到92%。 • 期內，本集團實現總收入約為人民幣2,263.1億元，毛虧約為人民幣242.6億 元，本公司股東應佔核心淨虧損1約為人民幣453.5億元。 ...

[Cover and Financial Highlights](index=1&type=section&id=%E5%B0%81%E9%9D%A2%E4%B8%8E%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) [Financial Highlights](index=1&type=section&id=%E8%B2%A1%E5%8B%99%E6%91%98%E8%A6%81) For the six months ended June 30, 2023, Country Garden's contracted sales significantly declined, total revenue increased, but the company recorded substantial gross loss and core net loss, with overall financial condition remaining severe Key Financial and Operational Indicators for H1 2023 | Indicator | Amount/Value | | :--- | :--- | | Contracted Sales Attributable to Shareholders' Equity | Approx. RMB 128.76 billion | | Equity Contracted Sales Collection Rate | 92% | | Total Revenue | Approx. RMB 226.31 billion | | Gross Loss | Approx. RMB 24.26 billion | | Core Net Loss Attributable to Shareholders | Approx. RMB 45.35 billion | | Marketing and Administrative Expenses as % of Total Revenue | Approx. 4.4% (down 1.1 percentage points YoY) | | Total Borrowings (Period-end) | Approx. RMB 257.91 billion (down 4.9% from year-end) | | Net Gearing Ratio (Period-end) | 50.1% | [Performance Review and Outlook](index=2&type=section&id=%E6%A5%AD%E7%B8%BE%E5%9B%9E%E9%A1%A7%E8%88%87%E5%B1%95%E6%9C%9B) Management acknowledged the severe challenges in the real estate sector during H1 2023, facing the greatest difficulties since the company's inception, leading to significant core net losses despite increased revenue, and pledged proactive self-rescue measures while maintaining confidence in China's economic outlook - In the first half, nearly **278,000 units** were delivered, ranking first in the industry, demonstrating the company's commitment to "ensuring project delivery"[4](index=4&type=chunk) H1 2023 Performance Overview | Indicator | 2023 H1 | | :--- | :--- | | Revenue | Approx. RMB 226.31 billion (up 39.4% YoY) | | Core Net Loss Attributable to Shareholders | Approx. RMB 45.35 billion | | Contracted Sales Attributable to Shareholders' Equity | Approx. RMB 128.76 billion | | Total Interest-bearing Debt Balance | RMB 257.91 billion | | Net Gearing Ratio | 50.1% | - Company management conducted a deep self-reflection, admitting insufficient understanding and ineffective mitigation of risks such as the depth of the market downturn and excessive investment in third and fourth-tier cities, which led to the current predicament[5](index=5&type=chunk) - The company proposed self-rescue measures including: implementing project delivery tasks, improving sales, revitalizing assets, cutting expenses, and adopting debt management measures to alleviate liquidity pressure[5](index=5&type=chunk) [Interim Condensed Consolidated Financial Statements](index=5&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E5%A0%B1%E8%A1%A8) This section presents the Group's unaudited interim financial statements as of June 30, 2023, including the consolidated statement of financial position, consolidated income statement, and consolidated statement of comprehensive income, comprehensively reflecting the Group's financial position and operating results for the first half [Interim Condensed Consolidated Statement of Financial Position](index=5&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E8%B2%A1%E5%8B%99%E7%8B%80%E6%B3%81%E8%A1%A8) As of June 30, 2023, the Group's total assets were RMB 1.62 trillion, total liabilities were RMB 1.36 trillion, and total shareholders' equity decreased to RMB 254.37 billion, indicating financial pressure with reduced net current assets and total borrowings of approximately RMB 257.91 billion Key Balance Sheet Items (As of June 30, 2023) | Item | June 30, 2023 (RMB million) | December 31, 2022 (RMB million) | | :--- | :--- | :--- | | Total Assets | 1,618,529 | 1,744,467 | | Total Liabilities | 1,364,160 | 1,434,894 | | Total Equity | 254,369 | 309,573 | | Cash and Cash Equivalents | 101,115 | 128,281 | | Total Borrowings | 257,905 | 271,307 | [Interim Condensed Consolidated Income Statement](index=7&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%88%A9%E6%BD%A4%E8%A1%A8) In H1 2023, Group revenue increased by 39.4% to RMB 226.31 billion, but due to a significant increase in cost of sales and asset impairments, a gross loss of RMB 24.26 billion was recorded, resulting in a net loss attributable to company shareholders of RMB 48.93 billion, compared to a profit of RMB 612 million in the prior period, with basic loss per share at RMB 1.79 Key Income Statement Items (For the six months ended June 30, 2023) | Item | 2023 H1 (RMB million) | 2022 H1 (RMB million) | | :--- | :--- | :--- | | Revenue | 226,309 | 162,363 | | (Gross Loss)/Gross Profit | (24,263) | 17,210 | | Operating (Loss)/Profit | (45,213) | 7,044 | | (Loss)/Profit for the Period | (51,461) | 1,907 | | (Loss)/Profit Attributable to Company Shareholders | (48,932) | 612 | | Basic (Loss)/Earnings Per Share (RMB) | (1.79) | 0.03 | [Interim Condensed Consolidated Statement of Comprehensive Income](index=8&type=section&id=%E4%B8%AD%E6%9C%9F%E7%B0%A1%E6%98%8E%E7%B6%9C%E5%90%88%E5%85%A8%E9%9D%A2%E6%94%B6%E7%9B%8A%E8%A1%A8) Building on a net loss of RMB 51.46 billion, and after accounting for other comprehensive losses, the Group's total comprehensive loss for H1 2023 was RMB 51.85 billion, with RMB 49.35 billion attributable to company shareholders Summary of Comprehensive Income Statement (For the six months ended June 30, 2023) | Item | 2023 H1 (RMB million) | 2022 H1 (RMB million) | | :--- | :--- | :--- | | (Loss)/Profit for the Period | (51,461) | 1,907 | | Other Comprehensive Loss for the Period | (393) | (3) | | Total Comprehensive (Loss)/Income for the Period | (51,854) | 1,904 | | Total Comprehensive (Loss)/Income Attributable to Company Shareholders | (49,350) | 610 | [Notes to the Interim Financial Information](index=9&type=section&id=%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E9%99%84%E6%B3%A8) This section details the basis of preparation for the interim financial statements, significant accounting policies, and specifics of various accounts, with Note 1.1 "Going Concern Basis" being central, disclosing the company's liquidity pressure, debt situation, and significant uncertainties that may cast substantial doubt on its ability to continue as a going concern, along with management's crisis response plans and measures [Note 1.1: Going Concern Basis](index=9&type=section&id=1.1%20%E6%8C%81%E7%BA%8C%E7%B6%93%E7%87%9F%E5%9F%BA%E7%A4%8E) This note reveals significant doubts about the Group's ability to continue as a going concern, with substantial net losses, RMB 108.7 billion in debt maturing within 12 months against only RMB 101.1 billion in cash, and a failure to pay interest on some senior notes, despite management's seven response plans whose successful implementation is subject to significant uncertainties - Explicitly states the existence of significant uncertainties that may cast substantial doubt on the Group's ability to continue as a going concern[12](index=12&type=chunk) Liquidity Pressure Status (As of June 30, 2023) | Item | Amount (RMB million) | | :--- | :--- | | Debt Maturing within 12 Months | 108,703 | | Cash and Cash Equivalents | 101,115 | | Restricted Cash | 29,454 | - Management has formulated seven key measures to maintain going concern, including debt management, securing financing, accelerating sales, controlling construction payments, monitoring financial covenants, revitalizing assets, and cutting expenses[13](index=13&type=chunk)[14](index=14&type=chunk) - Subsequent to the reporting period, the company failed to pay interest on certain senior notes due in August 2023, which, despite being within the 30-day grace period, exacerbates default risk[12](index=12&type=chunk) [Note 4: Revenue and Segment Information](index=13&type=section&id=4%20%E6%94%B6%E5%85%A5%E5%8F%8A%E5%88%86%E9%83%A8%E8%B3%87%E6%96%99) The Group's operations are divided into two reportable segments: property development and technology construction, with total revenue in H1 2023 at RMB 226.31 billion, where property development revenue at RMB 220.8 billion held an absolute dominant position and showed significant year-on-year growth, while technology construction revenue at RMB 3.27 billion experienced a year-on-year decrease Segment Revenue (For the six months ended June 30, 2023) | Segment | Revenue (RMB million) | YoY Change | | :--- | :--- | :--- | | Property Development | 220,803 | +41.2% | | Technology Construction | 3,272 | -6.7% | | Other | 2,234 | -10.0% | | **Total** | **226,309** | **+39.4%** | [Notes 8-10: Debt Instruments (Senior Notes, Corporate Bonds, Convertible Bonds)](index=20&type=section&id=8-10%20%E5%82%B5%E5%8B%99%E5%B7%A5%E5%85%B7) As of June 30, 2023, the Group's outstanding senior notes, corporate bonds, and convertible bonds were RMB 68.68 billion, RMB 26.94 billion, and RMB 6.10 billion, respectively, with some debt repaid through maturity and repurchases, and approximately RMB 1.89 billion in new corporate bonds issued during the period Balances of Various Debt Instruments (As of June 30, 2023) | Debt Type | Balance (RMB million) | Due within 1 year (RMB million) | | :--- | :--- | :--- | | Senior Notes | 68,682 | 11,490 | | Corporate Bonds | 26,944 | 21,590 | | Convertible Bonds | 6,103 | 6,103 | [Note 18: Events After the Reporting Period](index=27&type=section&id=18%20%E5%A0%B1%E5%91%8A%E6%9C%9F%E5%BE%8C%E7%99%BC%E7%94%9F%E7%9A%84%E4%BA%8B%E9%A0%85) Subsequent to the reporting period, the Group undertook several significant measures to address the liquidity crisis, including securing approximately RMB 6.06 billion in 30-month dual-currency term loan refinancing, negotiating extensions for domestic corporate bonds, failing to pay interest on some senior notes due in August, and selling a 26.67% equity stake in an associate for approximately RMB 1.29 billion, having received about RMB 700 million in cash - Successfully secured approximately **RMB 6.06 billion** in 30-month dual-currency term loan refinancing, providing support for short-term liquidity relief[46](index=46&type=chunk) - Failure to pay interest on some senior notes due in August indicates that liquidity pressure has transformed into substantive default risk[46](index=46&type=chunk) - The sale of an associate's equity stake generated approximately **RMB 700 million** in cash, demonstrating the company's active asset disposal to supplement liquidity[46](index=46&type=chunk) [Management Discussion and Analysis](index=28&type=section&id=%E7%AE%A1%E7%90%86%E5%B1%A4%E8%A8%8E%E8%AB%96%E8%88%87%E5%88%86%E6%9E%90) Management provided an in-depth analysis of H1 2023 financial performance, liquidity, key risks, and business outlook, highlighting significant losses due to market downturns and asset impairments despite increased revenue, and reaffirmed commitment to ensuring deliveries, revitalizing assets, strict cost control, and exploring new business models to navigate current difficulties [Financial Review](index=28&type=section&id=%E8%B2%A1%E5%8B%99%E5%9B%9E%E9%A1%A7) In H1 2023, total revenue increased by 39.4% to RMB 226.31 billion, primarily driven by property development, but significant asset impairments and net exchange losses led to a pre-tax loss of RMB 46.15 billion and a core net loss attributable to shareholders of RMB 45.35 billion - The three main reasons for the substantial loss were: 1. Net impairment provisions of approximately **RMB 40.34 billion** for properties under development and completed properties held for sale 2. Net impairment losses of approximately **RMB 6.66 billion** for financial and contract assets 3. Net exchange losses of approximately **RMB 3.04 billion** due to foreign exchange fluctuations[53](index=53&type=chunk) [Liquidity, Financial and Capital Resources](index=30&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E3%80%81%E8%B2%A1%E5%8B%99%E5%8F%8A%E8%B3%87%E6%9C%AC%E8%B3%87%E6%BA%90) As of June 30, 2023, the Group's total cash balance decreased to RMB 130.57 billion, with unrestricted cash and equivalents at RMB 101.12 billion, while total borrowings decreased to RMB 257.91 billion, but the net gearing ratio climbed to 50.1% due to a significant reduction in total equity Key Financial Position Indicators | Indicator | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Total Cash Balance (RMB million) | 130,569 | 147,550 | | Total Borrowings (RMB million) | 257,905 | 271,307 | | Net Gearing Ratio | 50.1% | 40.0% | [Principal Risks and Uncertainties](index=31&type=section&id=%E4%B8%BB%E8%A6%81%E9%A2%A8%E9%9A%AA%E5%8F%8A%E4%B8%8D%E6%98%8E%E6%9C%97%E5%9B%A0%E7%B4%A0) The Group faces primary risks including: systemic risk from the prolonged downturn in mainland China's real estate market; interest rate risk from predominantly floating-rate bank borrowings; foreign exchange risk from outstanding foreign currency borrowings; and the most severe current phased liquidity risk, with plans to address liquidity pressure disclosed in Note 1 - The company explicitly faces four major risks: real estate market risk, interest rate risk, foreign exchange risk, and liquidity risk[57](index=57&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk)[60](index=60&type=chunk) - Liquidity risk is currently the most critical risk, with the company facing phased liquidity pressure[60](index=60&type=chunk) [Business Development Outlook](index=33&type=section&id=%E6%A5%AD%E5%8B%99%E7%99%BC%E5%B1%95%E5%B1%95%E6%9C%9B) Looking ahead, the Group acknowledges unprecedented liquidity pressure, with the core task of ensuring cash flow safety through asset revitalization, expense reduction, and debt management, while strategically advancing a new "One Body, Two Wings" strategy to explore new real estate development models and overcome the current predicament - The core task for the future is to ensure cash flow safety, addressing liquidity pressure through asset revitalization, expense reduction, and debt management[64](index=64&type=chunk) - Proposed a new "One Body, Two Wings" strategy, simultaneously strengthening the core property business while vigorously expanding new businesses like entrusted management and construction technology, exploring new development models[64](index=64&type=chunk) [Other Information](index=34&type=section&id=%E5%85%B6%E4%BB%96%E4%BF%A1%E6%81%AF) This section covers corporate governance information, including the audit committee's review, the independent auditor's "Emphasis of Matter" paragraph on the going concern assumption, compliance with corporate governance codes, details of employee incentive schemes, and capital operations such as convertible bonds and share repurchases, with the Board resolving not to declare an interim dividend for 2023 [Extracts from Independent Auditor's Review Report](index=34&type=section&id=%E7%8D%A8%E7%AB%8B%E6%A0%B8%E6%95%B8%E5%B8%AB%E5%B0%8D%E6%9C%AA%E7%B6%93%E5%AF%A9%E8%A8%88%E7%9A%84%E4%B8%AD%E6%9C%9F%E8%B2%A1%E5%8B%99%E8%B3%87%E6%96%99%E7%9A%84%E5%AF%A9%E9%96%B1%E5%A0%B1%E5%91%8A%E6%91%98%E9%8C%84) Independent auditor PricewaterhouseCoopers issued an unmodified review report, but included an "Emphasis of Matter" paragraph specifically drawing users' attention to the company's substantial losses, significant debt maturing soon, declining pre-sale performance, failure to pay interest on some notes, and potential financial covenant default risks, which collectively indicate material uncertainties that may cast significant doubt on the Group's ability to continue as a going concern - The auditor issued an unmodified opinion but included an "Emphasis of Matter" paragraph[67](index=67&type=chunk) - The core content of the "Emphasis of Matter" is to highlight significant uncertainties that may cast substantial doubt on the Group's ability to continue as a going concern[69](index=69&type=chunk) [Interim Dividend](index=40&type=section&id=%E4%B8%AD%E6%9C%9F%E8%82%A1%E6%81%AF) Considering the Group's current financial condition and liquidity pressure, the Board has resolved not to declare an interim dividend for the six months ended June 30, 2023, consistent with the policy for the same period in 2022 - The Board resolved not to declare an interim dividend for 2023 (2022 interim dividend: nil)[81](index=81&type=chunk)

GARDEN 碧桂園 给 您 一 个 五 星 级 的 家 2022年度報告 Country Garden Holdings Company Limited Country Garden Holdings Company Limited 控股有限公司 2022年度報告 股份代號： 2007 （於開曼群島註冊成立的有限公司） 設計理念 隨著疫情過去，中國經濟迅 速重回發展軌道，2023年是 一個重要趨勢，重回增長軌 道的路徑與機遇，展翅高 飛。年報透過採用富有科技 感的線條，勾畫出鳳凰展翅 的一刻，鳳凰循序漸進、有 方向地前進，寓意碧桂園確 立目標堅定不移。 碧桂園是什麼 碧桂園是為社會創造幸福生活的高科技綜合性企業。 我們積極投身機器人產業和科技建造事業 科技發展日新月異，機器人時代已經到來。我們投身科技創新大潮，廣納人才、博採 眾長，集超30萬名員工的智慧，用科技的力量為社會創造美好生活，助力國家科技進 步和高質量發展。 我們成立博智林機器人公司，研發應用建築機器人，提升施工智能化水平，並同步推 進餐飲、醫療、農業、社區服務等各類機器人的研發、製造與應用。 我們組建科技建築集團，打造由建築機器人、新型裝配式、 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴 該等內容而引致的任何損失承擔任何責任。 COUNTRY GARDEN HOLDINGS COMPANY LIMITED 碧桂園控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：2007） 截至2022年12月31日止年度 全年業績 財務摘要 • 截至2022年12月31日止年度，本集團連同其合營企業及聯營公司，共實現歸屬本 公司股東權益的合同銷售金額約人民幣3,574.7億元，歸屬本公司股東權益的合同 銷售面積約4,450萬平方米。 • 於2022年，本集團權益合同銷售回款約為人民幣3,324.8億元，回款率達到93%。 • 年內，本集團實現總收入約為人民幣4,303.7億元，毛利約為人民幣328.8億元，本 公司股東應佔核心淨利潤1約為人民幣26.1億元。 • 年內，本集團營銷及市場推廣成本和行政費用約為人民幣197.4億元，同比下降 31.6%。 • 於2022年12月31日，本集團共有可動用現金2餘額約人民幣1,475.5億元 ...

Company Overview - Country Garden ranked 138th on the Fortune Global 500 list in August 2022[9]. - The company has contributed over 10 billion RMB in charitable donations since its establishment[5]. - Country Garden has helped 490,000 people escape poverty through targeted poverty alleviation efforts[5]. - The company operates in all provinces and municipalities in mainland China, expanding its property development projects[9]. - Country Garden employs over 200,000 staff, including more than 1,000 PhDs, to drive technological innovation[5]. - The company has established multiple subsidiaries focused on robotics and modern agriculture to enhance production efficiency[5]. - Country Garden aims to strengthen its community resource integration platform to enhance asset value across its lifecycle[9]. Technological Innovation - The company has developed a smart construction system centered on robotics and BIM technology to revolutionize the construction industry[5]. - The company has developed 30 types of construction robots, with over 1,200 units delivered and an application area exceeding 10 million square meters by the end of July 2022[24]. - The establishment of a technology construction group aims to drive the industrialization, digitalization, and intelligent upgrading of the traditional construction industry[68]. - The group plans to leverage artificial intelligence to address the aging workforce in the construction industry and meet consumer demands for sustainable environments[69]. Financial Performance - The company’s revenue for the first half of 2022 was approximately RMB 162.36 billion, with a net profit of about RMB 1.91 billion and a core net profit attributable to shareholders of approximately RMB 4.91 billion[24]. - The total revenue for the first half of 2022 was RMB 162,363 million, a decrease of about 30.9% compared to RMB 234,930 million in the same period of 2021[62]. - Revenue from property sales accounted for 96.3% of total revenue, while construction and other segments contributed 3.7%[62]. - The net profit attributable to shareholders was RMB 612 million, a significant drop of 95.9% compared to RMB 14,996 million in the first half of 2021[108]. - The company reported a basic earnings per share of RMB 0.03, down from RMB 0.69 in the same period of 2021[108]. Project Development - The company delivered 250,000 units of housing in 1,070 batches during the first half of 2022, ensuring timely delivery and fulfilling social responsibilities[24]. - The company acquired 9 new projects with an equity land price of approximately RMB 6.1 billion, focusing on cities with favorable supply-demand relationships[24]. - The company has ongoing projects with expected completion dates extending into 2028, indicating a long-term development strategy[42]. - The company is actively pursuing new projects and expansions, as evidenced by the number of projects in various stages of development across multiple provinces[39]. Market Strategy - The company’s investment strategy remains cautious, focusing on acquiring land in cities with strong certainty, with a total of approximately RMB 1.2161 trillion in sellable resources[24]. - The company is focused on enhancing its market position through strategic land acquisitions and project developments in key regions of China[33]. - The overall strategy includes expanding into new markets and enhancing product offerings through innovative developments[44]. Financial Management - The company continues to implement strategies to enhance market penetration in various regions to reduce reliance on specific markets[64]. - The company has adopted foreign currency hedging tools to better manage foreign exchange risks, aiming to minimize the volatility of RMB expenditures for future foreign currency debt repayments[64]. - The company monitors interest rate changes closely and executes interest rate management strategies when favorable opportunities arise[64]. - The company aims to seek new debt financing and bank loans at acceptable costs to repay existing debts and fund future operations and capital expenditures[119]. Shareholder Information - As of June 30, 2022, the total number of issued shares was 23,155,402,514, with 61.23% held by Bestwin Limited, owned by Yang Huiyan[86]. - Yang Huiyan holds 14,179,076,995 shares, representing 61.23% of the total issued shares[82]. - China Ping An Insurance (Group) Company holds 1,797,751,000 shares, accounting for 7.76% of the total issued shares[86]. Risk Management - The company’s overall risk management plan focuses on minimizing potential adverse impacts on financial performance due to market unpredictability[125]. - The company had no significant changes in risk management policies during the reporting period[125]. - The company provided guarantees for certain liabilities of joint ventures and associates amounting to approximately RMB 34,701 million as of June 30, 2022, down from RMB 43,221 million as of December 31, 2021[65]. Employee Management - The group employed approximately 78,533 full-time employees as of June 30, 2022[66]. - The group has implemented a "shared partnership" system to align employee interests with the company's, enhancing operational cost control and profit margins[66]. Corporate Governance - The board of directors includes seven executive directors and five independent non-executive directors, ensuring strong governance[71][72]. - Adjustments to director remuneration were made, with significant reductions in annual salaries for several directors, effective September 7, 2022[78]. Future Outlook - The company expects to continue its market expansion and product development strategies in the upcoming quarters[179]. - The company plans to continue measures to ensure the speed of property pre-sales and sales, safeguarding sales revenue and other receivables[119].

Corporate Social Responsibility - Country Garden has contributed to the modernization of over 1,400 towns and has provided housing for more than 4.5 million homeowners[7]. - The company has participated in social charity donations exceeding 10 billion RMB and has helped 490,000 people escape poverty[9]. - Country Garden's annual tax contribution exceeds 60 billion RMB[9]. - The company aims to create affordable housing and contribute to the happiness of society as a high-tech comprehensive enterprise[28]. - Yang Huiyan has received multiple awards for her contributions to charity and poverty alleviation, highlighting the company's commitment to social responsibility[88]. Financial Performance - The company's revenue for the year was approximately RMB 523.1 billion, with a net profit of approximately RMB 40.98 billion, and core net profit attributable to shareholders was about RMB 26.93 billion[31]. - The company reported a revenue of RMB 523.1 billion in 2021, an increase from RMB 462.9 billion in 2020, representing a growth of approximately 13.5%[63]. - The attributable profit to shareholders was RMB 26.8 billion in 2021, down from RMB 35.0 billion in 2020, indicating a decline of about 23.1%[63]. - The company’s basic earnings per share for 2021 was RMB 1.22, compared to RMB 1.62 in 2020[61]. - The total attributable profit for the year 2021 was RMB 40.982 billion, reflecting a decrease from RMB 54.118 billion in 2020[61]. Market Expansion and Strategy - The company aims to strengthen its real estate industry chain through financial means and enhance community resource integration[14]. - The company remains optimistic about the long-term growth of the national economy and the real estate market's return to a healthy cycle[31]. - The company is focusing on expanding its market presence in second and third-tier cities, which represent a strategic growth area[39]. - The company is actively pursuing new strategies for market expansion and product development to enhance its competitive position[48]. - The company plans to increase its overseas investment by 40% over the next three years[100]. Project Development and Sales - In 2021, the company achieved a contract sales amount of approximately RMB 558 billion, with 68% of sales contributions coming from third- and fourth-tier cities[31]. - The total sell-through rate for the year reached 67%, while the equity collection amount was approximately RMB 502.2 billion, maintaining a collection rate of over 90% for six consecutive years[31]. - The company has signed or acquired a total of 3,216 projects in mainland China, covering all 31 provinces, autonomous regions, and municipalities[31]. - The company has a significant project in Huizhou with a total saleable area of 475,020 square meters, of which 293,189 square meters have been completed and sold[51]. - The company has ongoing projects with a total saleable area of 1,107,282 square meters, of which 799,772 square meters are pre-sold and awaiting delivery[49]. Technological Innovation - Country Garden has established a robotics company focusing on construction robots and smart building systems[6]. - The company has commercialized 18 types of construction robots, covering over 350 projects across 25 provinces, with a cumulative application area exceeding 7 million square meters[33]. - The group incurred research and development expenses of approximately RMB 3.308 billion in 2021, focusing on smart construction and diversified investment portfolios[83]. - Investment in new technology development has increased by 30%, focusing on sustainable building solutions[100]. - A new partnership with a leading tech firm aims to integrate smart home technologies into future developments[100]. Governance and Management - The company has a strong governance structure with various committees overseeing environmental, social, and governance (ESG) initiatives[88]. - The board of directors consists of 7 executive directors and 6 independent non-executive directors as of December 31, 2021[113]. - The company emphasizes a culture of open discussion, particularly encouraging contributions from non-executive and independent non-executive directors[129]. - The company has adopted a strategic management mechanism to identify and assess potential opportunities and challenges, formulating long-term development strategies and action plans[112]. - The company has implemented procedures for handling and disclosing inside information, ensuring compliance with disclosure regulations[156]. Debt and Financial Management - As of December 31, 2021, the group had cash and cash equivalents totaling approximately RMB 181.3 billion, with interest-bearing debt reduced to RMB 317.9 billion and a net debt ratio of 45.4%, optimized by 10.2 percentage points compared to the previous year[32]. - The company redeemed priority notes with a total face value of USD 1,226 million during the year, replacing high-cost financing with lower-cost options[75]. - The net gearing ratio improved from approximately 55.6% on December 31, 2020, to approximately 45.4% on December 31, 2021[76]. - The company raised approximately RMB 18,899 million from newly issued corporate bonds, which will be used for refinancing existing debts and general working capital[177]. - The company has a formal and transparent compensation policy for directors and senior management, which is reviewed annually by the Compensation Committee[138]. Environmental and Sustainable Development - The company aims to integrate sustainable development concepts into its operations, responding to the national "dual carbon" strategy[34]. - The company is focused on sustainable development and optimizing its operational structure to enhance efficiency[93]. - The management emphasized a commitment to sustainability, with plans to reduce carbon emissions by 30% over the next five years[108]. - The company is committed to supporting the construction of affordable housing projects in response to national calls[83]. - The company has established a systematic information disclosure and communication platform to enhance transparency and governance[164].