Financial Performance - Revenue for the first half of 2022 was RMB 28,745 million, a 1% increase from RMB 28,456 million in 2021[4] - Profit attributable to owners of the parent decreased by 40% to RMB 2,571 million, down from RMB 4,301 million in the previous year[4] - Basic earnings per share fell by 40% to 20.26 RMB cents, compared to 33.88 RMB cents in 2021[4] - Profit attributable to owners of the parent, net of fair value gains on investment properties, was RMB 2,570 million, a 26% decrease from RMB 3,455 million[4] - The interim dividend per share was set at 9 HK cents, a decrease of 25% from 12 HK cents in the previous year[4] - The overall performance of the real estate market showed a decline, with national commodity housing sales down by 28.9% year-on-year[6] - Profit attributable to owners of the parent for the first half of 2022 was RMB 2,571 million, representing a year-on-year decrease of 40%, and RMB 2,570 million excluding fair value gains on investment properties, a decrease of 26%[10] - Revenue from city operations and property development remained stable at approximately RMB 24,951.8 million, while revenue from commercial leasing and retail operations decreased by 5% and hotel operations decreased by 41%[121] - The overall gross profit margin improved to 22%, an increase of 2 percentage points compared to the previous year[121] Assets and Liabilities - The total assets increased by 5% to RMB 431,843 million from RMB 412,002 million in 2021[4] - Equity attributable to owners of the parent increased by 2% to RMB 51,042 million from RMB 49,961 million in 2021[4] - Properties under development increased by 17% to approximately RMB 169,427.0 million from RMB 144,824.2 million as of December 31, 2021[134] - Properties held for sale increased from approximately RMB 27,477.6 million as of December 31, 2021, to approximately RMB 28,668.8 million as of June 30, 2022[141] - Interest-bearing bank and other borrowings increased by 7% to approximately RMB 114,172.4 million as of June 30, 2022, from RMB 107,028.1 million as of December 31, 2021[150][156] - The net debt-to-adjusted capital ratio as of June 30, 2022, was 59%, compared to 58% as of December 31, 2021[158][160] Market Position and Strategy - The company achieved a contracted sales amount of RMB 69.9 billion, ranking 11th in the industry[6] - The company emphasized its commitment to urban operations and scientific principles to enhance quality and efficiency[6] - The company aims to transform from a conventional development model to an innovation-driven model, focusing on quality and efficiency improvement[21] - The company is positioned as a "city operator" and will continue to leverage its strategic advantages to maximize shareholder value[113] - The company has established a new materials segment to explore new business opportunities in city operations[16] Project Development and Sales - The company completed strategic contract signing with 263 companies in the first half of the year, facilitating city and industrial upgrading[12] - The total number of city operation projects reached 34, contributing 25% of contracted sales and nearly half of the company's profits in the first half of the year[12] - The Group's contracted sales of properties and land yet to be delivered and settled amounted to approximately RMB 288.5 billion as of the end of the reporting period[28] - The total gross floor area of projects acquired by the Group since 2022 amounts to approximately 1.88 million sq.m., ensuring future development[29] - The company has several ongoing property development projects across China, with notable saleable areas including 537,969 square meters for the Nanjing Greenland Haiyue Project and 511,574 square meters for the Guangzhou Jinmao Vanke Metropolis Seasons Project[53] Customer Satisfaction and Operational Efficiency - Customer satisfaction score reached 87, achieving industry benchmark level, following successful project delivery in the first half of the year[12] - The turnover of merchants in operational projects increased by 10% year-on-year in the first half of the year, despite pandemic impacts[12] - The Company adjusted the number of city companies from 40 to 26, improving operational efficiency and decision-making[17] Technology and Innovation - The company emphasized technology empowerment, focusing on new materials and potential business growth areas[12] - The Company applied for 65 patents in the first half of 2022, including 26 invention patents, and currently holds 391 valid patents[16] - Jinmao Green Building is actively responding to the national green development goal of "carbon neutrality" and has deployed comprehensive energy service businesses, photovoltaic and zero-carbon construction businesses, and green big data center businesses[109] Hotel Operations - The hotel business established a brand system with four self-operated hotels and 11 opened apartments, along with two self-operated hotels under contract and 21 asset-light service contracts[12] - The hotel operations segment experienced a decline in overall revenue, occupancy rate, and RevPAR due to the impact of the pandemic[27] - Average room rates across various hotels as of June 30, 2022, ranged from RMB 264 to RMB 2,831, with average occupancy rates between 22.7% and 54.8%[89] Environmental and Social Responsibility - The company has set carbon reduction targets and launched a carbon neutrality demonstration area in the Jinhua Dongmei Future Community Project[20] - The company provided nearly 80,000 hours of service and completed 650,000 service provisions related to pandemic prevention and control[20] - The Company faces moderate environmental risks due to potential climate change impacts on property construction and operations in China[182] Share Options and Employee Incentives - The Company granted 172,350,000 share options under the 2007 Scheme on October 17, 2016, with an exercise price of HK$2.196 per share[186] - The total number of shares that may be issued under the New Scheme is capped at 1,155,352,832 shares, representing 9.10% of the issued share capital as of the report date[184] - The Company’s share options will lapse if the pre-set performance targets are not achieved[186]
中国金茂(00817) - 2022 - 中期财报