Seazen(SH:601155)2018-08-24 16:00Financial Performance - The company's operating revenue for the first half of 2018 reached ¥15,757,537,297, representing a 39.10% increase compared to ¥11,327,937,186 in the same period last year[19]. - Net profit attributable to shareholders of the listed company was ¥2,538,328,487, a significant increase of 122.81% from ¥1,139,229,359 in the previous year[19]. - The net profit after deducting non-recurring gains and losses was ¥2,000,569,450, up 104.26% from ¥979,418,821 year-on-year[19]. - Basic earnings per share for the first half of 2018 were ¥1.14, up 123.53% from ¥0.51 in the same period last year[20]. - The weighted average return on net assets increased by 4.54 percentage points to 11.98% compared to 7.44% in the previous year[20]. - The company reported a net cash flow from operating activities of -¥9,135,829,908, which is a 22.44% increase in cash outflow compared to -¥7,461,307,636 in the same period last year[19]. - The total non-recurring gains and losses amounted to ¥537,759,037 for the reporting period[22]. Asset and Equity Growth - The company's total assets increased by 34.17% to ¥246,237,596,446 from ¥183,526,661,367 at the end of the previous year[19]. - The net assets attributable to shareholders of the listed company rose to ¥21,568,944,316, marking a 4.58% increase from ¥20,623,563,047 at the end of the previous year[19]. - As of the end of the reporting period, the company had total assets of CNY 246.238 billion and net assets of CNY 28.775 billion[36]. - The total equity reached RMB 28.78 billion, compared to RMB 25.98 billion at the beginning of the year, representing a growth of about 10.8%[162]. Sales and Market Performance - The company's contract sales amount reached RMB 95.31 billion, a year-on-year increase of 94.17%, achieving 52.95% of the annual sales target of RMB 180 billion[33]. - The total sales area was 7.75 million square meters, representing a year-on-year growth of 118.25%[33]. - The company ranked 8th in the national real estate sales among all enterprises, improving 8 positions compared to the previous year[33]. - Total sales area for the first half of 2018 reached 1,200,000 square meters, generating sales revenue of 1,500 million yuan[52]. Project Development and Construction - The company has completed a nationwide layout strategy, focusing on high-capacity urban clusters with strong population attraction[26]. - The company achieved a project fund recovery rate of 86.8%[33]. - In the first half of 2018, the company added 82 new land reserves with a total construction area of 20.7393 million square meters, laying a solid foundation for rapid growth and maintaining a leading position in the industry[34]. - The company has multiple residential projects under construction, with completion rates ranging from 24.75% to 99.01% across various locations[40]. - The total area of residential projects under construction is approximately 2,000,000 square meters, with significant projects in Wuxi and Changzhou[42]. - The company is actively pursuing new project developments, with several planned projects in high-demand areas, which may enhance market competitiveness[45]. Financial Management and Risks - The company reported a significant increase in financial expenses to ¥583,685,805 from ¥270,097,205 in the previous period, indicating higher borrowing costs[168]. - The net cash flow from operating activities decreased to -CNY 9,135,829,908, worsening from -CNY 7,461,307,636 in the previous year, reflecting increased cash outflows due to land reserves and project advancements[72]. - The company faces significant policy risks due to ongoing government regulations in the real estate sector, which may impact investment strategies[84]. - Financial risks are heightened due to the capital-intensive nature of the real estate industry, necessitating careful management of financing strategies[84]. Corporate Governance and Compliance - The company has retained PwC as the financial and internal control auditor for the 2018 fiscal year, with an audit fee of 3.6 million RMB for the previous year[92]. - The company committed to not transferring or entrusting the management of its shares for 36 months following the listing of New City Holdings A shares, ensuring stability in shareholding[90]. - The company has engaged in related party transactions with a total amount of CNY 93 million for property management services[98]. - The company has authorized a maximum of CNY 50 billion for guarantees, of which CNY 24.90 billion has been utilized[99]. Social Responsibility and Community Engagement - The company plans to donate CNY 1,920,000 for poverty alleviation efforts, including funding for 332 impoverished students and CNY 716,440 for improving educational resources in poor areas[110]. - The "Seven Color Light Plan" aims to support rural education by donating to approximately 8 rural primary schools through the "Light Library" project[109]. - The company has received the 2017 Annual Responsibility Brand Award at the 7th China Public Welfare Festival[111].