Financial Performance - The unaudited consolidated revenue for the first half of 2021 was approximately RMB1,982.2 million, representing an increase of approximately 81.4% compared to the same period in 2020[13]. - The gross profit for the same period was approximately RMB628.4 million, reflecting an increase of approximately 60.7% year-on-year[13]. - The profit for the period was approximately RMB34.0 million, a decrease of approximately 89.4% compared to the corresponding period in 2020[13]. - The unaudited profit per share for the period was approximately RMB0.22 cents, down from RMB5.43 cents in the corresponding period of 2020[13]. - Revenue for the six months ended June 30, 2021, was RMB 1,982,203, a 81.7% increase from RMB 1,092,827 in 2020[145]. - Gross profit for the same period was RMB 628,421, representing a 60.7% increase from RMB 390,986 in 2020[145]. - Profit for the period decreased to RMB 33,950, down 89.4% from RMB 319,524 in 2020[147]. - Other income and gains for the period were RMB 188,775, a substantial increase from RMB 46,285 in 2020[145]. Sales and Contracted Sales - Total contracted sales during the period reached approximately RMB14,125 million, marking an increase of approximately 93.2% compared to the same period in 2020[21]. - The Group recorded a contract sales amount of approximately RMB 14,125 million, representing an increase of about 93.2% compared to the same period in 2020[22]. - Revenue from property sales amounted to approximately RMB1,647.6 million, an increase of about 99.2% from RMB827.0 million in the corresponding period of 2020, primarily due to increased property deliveries[54]. - Recognized sales totaled approximately RMB 1,647.59 million with a GFA sold of about 115,049 sq.m. as of June 30, 2021[80]. Project Development - The Group launched a total of 34 new projects for sale, primarily located in the Yangtze River Delta Region, with strong overall sales performance[20]. - The Group has 34 new projects launched and existing projects on sale, primarily located in the Yangtze River Delta, with overall sales performance being strong[22]. - The Group aims to further develop new projects and improve the quality of property management services to add value for property owners[30]. Financial Stability and Strategy - The Group maintained adequate cash flow and met all three red line standards, ensuring financial stability while pursuing sustainable growth[21]. - The Group's financial indicators are strong, meeting all three red line standards, ensuring a balance between aggressive growth and financial stability[22]. - The Group's financial policy remains prudent, focusing on maintaining a healthy liquidity position[105]. - The Group maintains a short-term prudent and long-term optimistic view amid fierce market competition[35]. - The Group will strive to enhance efficiency and effectiveness while consolidating its internal strength[129]. Market Conditions - The real estate market in China remained stable, supported by government regulations aimed at promoting healthy development[19]. - The overall economic recovery trend is expected to continue despite uncertainties from COVID-19, with China's economy maintaining stable growth[128]. - The macro-control objectives of stabilizing land prices, housing prices, and expectations will gradually be implemented to promote a stable and healthy real estate market[128]. Land Acquisition and Management - The Group acquired a total of 8 land parcels nationwide, adding approximately 876,676 sq.m. of GFA and a stock value of approximately RMB 17.2 billion[32]. - As of June 30, 2021, the total GFA of the Group's land bank was approximately 10 million sq.m., primarily distributed in Zhejiang, Anhui, Jiangsu, Shandong, and Yunnan provinces[32]. - The average land cost for the Group is approximately RMB 3,128 per sq.m.[32]. - The Group continues to implement a prudent land replenishment strategy, focusing on acquiring high-quality land at low costs to optimize its land bank structure[30]. Operational Efficiency - The Group has established an internal mechanism for improvement to enhance its industry benchmarking capability and provide quality services to customers[24]. - The management of the hotel group is actively improving its product and service system in response to the normalization of epidemic prevention measures[25]. - The Group will optimize marketing approaches and deepen sales channels to achieve quality sales growth[35]. Human Resources - The unaudited staff cost for the six-month period ended June 30, 2021, was approximately RMB 226.4 million, representing a 36.9% increase from RMB 165.4 million in the corresponding period of 2020[120]. - The Group employed a total of 4,816 staff as of June 30, 2021, compared to 4,153 staff a year earlier[120]. Dividend Policy - The Group does not recommend the payment of any interim dividend for the period under review[14]. - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2021[126]. - No interim dividend is recommended for the six-month period ending June 30, 2021[131].
众安集团(00672) - 2021 - 中期财报