建发国际集团(01908) - 2024 - 中期财报

Financial Performance - Revenue for the six months ended June 30, 2024, reached RMB 32,753,303, an increase of 34.5% compared to RMB 24,359,190 for the same period in 2023[9]. - Gross profit for the same period was RMB 3,902,749, representing a gross margin of approximately 11.9%[9]. - Net profit for the period was RMB 1,436,478, slightly up from RMB 1,421,853 in the previous year, indicating a growth of 1.0%[9]. - Basic earnings per share for the period was RMB 47.30, down from RMB 80.09 in the previous year, reflecting a decrease of 41.0%[12]. - Total comprehensive income for the period reached RMB 1,436,478,000, compared to RMB 619,410,000 in the previous period, reflecting a significant increase[21]. - Profit attributable to equity holders decreased by approximately RMB 467.07 million (or approximately 36.4%) to about RMB 817.07 million, compared to RMB 1,284.14 million in the same period last year[101]. Assets and Liabilities - Total assets as of June 30, 2024, amounted to RMB 459,180,149, an increase from RMB 427,277,513 as of December 31, 2023[15]. - The total liabilities increased to RMB 363,033,038 thousand from RMB 336,338,644 thousand, reflecting a rise of approximately 7.9%[17]. - The equity attributable to the company's equity holders was RMB 21,851,486 thousand as of June 30, 2024, compared to RMB 21,456,479 thousand at the end of 2023, marking an increase of about 1.8%[17]. - The group’s net debt increased to approximately RMB 43,958.55 million, resulting in a net debt-to-equity ratio of 45.72%, up from 33.64% as of December 31, 2023[1]. - The debt ratio (total borrowings to total equity) rose to approximately 96.9% from 93.2% as of December 31, 2023, due to an increase in interest-bearing borrowings and loans from indirect holding companies[2]. Cash Flow and Financing - The company’s cash and cash equivalents stood at RMB 49,217,544, a decrease from RMB 54,161,319 at the end of 2023[15]. - Net cash used in operating activities was RMB (3,411,876,000), a decrease from RMB 33,639,003,000 in the same period last year[24]. - The company incurred financing activities net cash outflow of RMB (2,268,153,000), compared to RMB (13,925,184,000) in the previous period[24]. - The company reported a net cash inflow from investing activities of RMB 811,866,000, contrasting with a cash outflow of RMB (9,663,691,000) in the prior period[24]. Revenue Sources - Property development revenue was RMB 31,010,852,000, up 36.5% from RMB 22,743,526,000 year-on-year[34]. - The company’s property management and related services generated revenue of RMB 1,742,451,000, an increase of 7.8% from RMB 1,615,664,000 in the previous year[34]. - The total contract sales amount for the first half of 2024 was RMB 5,087.28 million, compared to RMB 7,473.07 million in the same period last year[108]. Expenses and Costs - The company’s administrative expenses increased to RMB 926,748 from RMB 512,518, reflecting a rise of 80.9% year-on-year[9]. - The total financing cost of RMB 4,100,323,000, down 28.3% from RMB 5,718,259,000 in the previous year[37]. - Sales costs rose from approximately RMB 20,644.75 million to approximately RMB 28,850.55 million, an increase of approximately RMB 8,205.80 million[119]. Market and Strategic Outlook - The company plans to expand its market presence and invest in new product development to drive future growth[8]. - The company is focusing on expanding its market presence and enhancing its land reserves to support future growth[110]. - The company anticipates gradual market stabilization and the emergence of a new equilibrium due to ongoing policy optimization on both supply and demand sides[151]. Shareholder Information - The company has issued a total of 1,895,684,126 ordinary shares as of June 30, 2024[48]. - Major shareholder Yinan holds 1,046,812,743 shares, representing 55.22% of the issued share capital[164]. - The board has resolved not to declare an interim dividend for this period, consistent with the previous year[177]. Corporate Governance - The company adheres to high standards of corporate governance, ensuring shareholder rights and enhancing corporate value[178]. - The Audit Committee, composed entirely of independent non-executive directors, reviews financial data and internal control systems[181].