Financial Performance - The Group's revenue for the six months ended June 30, 2022, was RMB 5,077.6 million, an increase of approximately 156.2% compared to the same period in 2021[13]. - Gross profit for the same period was approximately RMB 1,726.1 million, representing an increase of approximately 174.7% year-on-year[13]. - The unaudited profit was RMB 70.2 million, reflecting an increase of approximately 106.5% compared to the corresponding period of 2021[13]. - Revenue for the six months ended June 30, 2022, was RMB 5,077,587, an increase of 156.3% compared to RMB 1,982,203 for the same period in 2021[158]. - Gross profit for the same period was RMB 1,726,106, up from RMB 628,421, reflecting a significant growth in profitability[158]. - Profit before tax reached RMB 1,086,995, compared to RMB 230,997 in the previous year, indicating a substantial increase[158]. - Profit for the period attributable to owners of the parent was RMB 137,659, a significant rise from RMB 12,430 in the prior year[158]. - Basic and diluted earnings per share attributable to equity holders of the parent were RMB 2.44 cents, compared to RMB 0.22 cents in the previous year[158]. - Profit for the period increased to RMB 70,231,000 in 2022 from RMB 33,950,000 in 2021, representing a growth of 106.5%[161]. - Total comprehensive income for the period reached RMB 86,586,000, a significant increase from RMB 8,461,000 in the previous year[161]. Sales and Contracted Sales - Contracted sales during the review period amounted to approximately RMB 5,266.1 million, with sales being relatively flat due to external factors and recurrent epidemics[20]. - Contracted sales amounted to about 277,342 sq.m. with a total value of approximately RMB 5,266.1 million during the period[82]. - Revenue from property sales reached approximately RMB 4,744.1 million, an increase of 187.9% compared to RMB 1,647.6 million in the same period of 2021[59]. - The Group's recognized GFA sold during the review period was approximately 210,028 sq.m., generating revenue of about RMB 4,744.1 million[91]. - The area of commodity properties pending for sale increased by 7.3% year-on-year to 547.84 million sq.m., with residential properties pending for sale up 13.5%[55]. Land Acquisition and Development - A total of 45 new projects were launched for sale during the review period, primarily located in the Yangtze River Delta Region[20]. - During the review period, the Group acquired a total of 7 land parcels in Zhejiang Province, adding approximately 0.524 million sq.m. of gross floor area and a stock value of approximately RMB 10.5 billion[35]. - The Group successfully won five land parcels in the first batch of centralized land supply auctions in Hangzhou, exceeding its target for the first half of the year[34]. - The Group is committed to a prudent land replenishment strategy, acquiring high-quality land parcels while maintaining financial soundness[33]. - The total gross floor area of the Group's land bank was approximately 10.44 million sq.m. as of June 30, 2022, with an average cost of approximately RMB 3,229 per sq.m., expected to support development for the next five years[36]. Financial Position and Ratios - As of June 30, 2022, the Group had total cash of approximately RMB 7,230.2 million, maintaining a healthy financial status with key financial indicators remaining green[23][26]. - The Group's total assets as of June 30, 2022, were approximately RMB 60,019.7 million, an increase from approximately RMB 57,240.3 million as of December 31, 2021[106]. - The Group's interest-bearing bank and other borrowings amounted to approximately RMB 17,329.7 million as of June 30, 2022, compared to approximately RMB 16,993.9 million as of December 31, 2021[109]. - The average effective interest rate on the Group's borrowings was 5.80% per annum as of June 30, 2022, down from 6.20% per annum as of December 31, 2021[113]. - The current ratio of the Group was approximately 1.37 as of June 30, 2022, compared to approximately 1.41 as of December 31, 2021[115]. - The net gearing ratio of the Group was 0.83 as of June 30, 2022, up from 0.76 as of December 31, 2021[115]. Market Outlook and Strategy - The Group plans to benefit from counter-cyclical adjustments in real estate financial policy and continued loose monetary policy, expecting an increase in contracted sales in the second half of the year[20]. - The real estate industry is anticipated to enter a new model and stage of virtuous cycle and healthy development under the government's policies[19]. - The Group aims to deepen its cultivation in the Yangtze River Delta region and focus on project development in future core areas, enhancing brand presence across multiple cities[41][43]. - The Group plans to maintain a prudent short-term outlook while being optimistic in the long term, focusing on precise and diversified investment strategies to ensure steady enterprise development[42][45]. - The real estate market is expected to develop steadily in the second half of 2022, transitioning from high-speed growth to high-quality development[40][43]. Operational Efficiency and Cost Management - The Group's business philosophy emphasizes "steady operation and profound accumulation," focusing on strategic transformation and product upgrading[20]. - The Group aims to reduce costs and enhance efficiency while actively reserving resources for future development, maintaining a prudent short-term view and an optimistic long-term outlook[139]. - Selling and distribution expenses decreased by 7.9% to approximately RMB 126.9 million from RMB 137.8 million in the same period of 2021[69]. - Staff costs for the Group were about RMB 218.9 million during the review period, representing a decrease of approximately 3.3% compared to RMB 226.4 million in the corresponding period of 2021[130]. Customer Satisfaction and Market Presence - Customer satisfaction scores for the Group significantly exceeded the industry average, as reported in the "2022 China Real Estate Customer Satisfaction Survey Report" by the China Index Academy[24][26]. - The Group's strategic focus on market expansion is evident through its various projects across multiple cities, enhancing its overall market presence[91]. Dividend Policy - The Group does not recommend the payment of any interim dividend for the review period, consistent with the previous year[14]. - No interim dividend was declared for the six months ended June 30, 2022, consistent with the previous year[141].
众安集团(00672) - 2022 - 中期财报