Financial Performance - Times China reported a revenue of HKD 3.5 billion for the first half of 2021, representing a year-on-year increase of 15%[12]. - The company achieved a net profit of HKD 1.2 billion, up 20% compared to the same period last year[12]. - The total contracted sales for the first half of 2021 reached HKD 6.8 billion, reflecting a growth of 25% year-on-year[12]. - The company reported recognized revenue of RMB 13,638.4 million for the six months ended June 30, 2021, a decrease of 8.6% compared to RMB 14,924.5 million in the same period of 2020[15]. - Gross profit increased to RMB 4,547.9 million, representing a growth of 13.1% from RMB 4,021.9 million in the previous year[15]. - Profit attributable to owners of the company rose to RMB 1,628.9 million, marking a 6.0% increase from RMB 1,536.6 million in the same period last year[15]. - Core net profit attributable to owners was RMB 1,934.6 million, up 5.7% from RMB 1,830.1 million in the prior year[21]. - Basic and diluted earnings per share increased to RMB 0.84, compared to RMB 0.79 in the same period of 2020[17]. - The gross profit margin improved to 33.3%, up from 26.9% in the previous year[17]. - The net profit margin also increased to 14.1%, compared to 12.1% in the same period last year[17]. - For the six months ended 30 June 2021, the Group recorded a revenue of RMB 13,638.4 million, representing a decrease of 8.6% compared to the same period in 2020[24]. - Profit for the same period amounted to RMB 1,923.3 million, an increase of 6.2% year-on-year[24]. Sales and Market Strategy - Times China plans to launch 10 new projects in the second half of 2021, aiming to enhance market presence[12]. - The company has set a sales target of HKD 15 billion for the full year 2021, indicating a 20% growth expectation[12]. - User data indicates a 30% increase in online property inquiries compared to the previous year, driven by enhanced digital marketing strategies[12]. - The company is focusing on expanding its footprint in the Guangdong-Hong Kong-Macau Greater Bay Area, targeting a 15% market share by 2023[12]. - The company is exploring potential mergers and acquisitions to accelerate growth in key markets, with a focus on strategic partnerships[12]. Assets and Liabilities - Total assets as of June 30, 2021, were RMB 211,462.8 million, an increase from RMB 191,502.4 million at the end of 2020[15]. - Total liabilities increased to RMB 170,602.9 million from RMB 155,619.0 million in the previous year[15]. - Cash and bank balances decreased to RMB 26,832.7 million from RMB 37,959.6 million at the end of 2020[15]. Project Development - The Group had 145 major projects in various stages, with 133 located in major cities of Guangdong Province[25]. - The average sales price for contracted sales was RMB 19,318 per sq.m. for the six months ended 30 June 2021[28]. - The company is focusing on expanding its residential and commercial projects, with significant areas allocated for future developments[47]. - The company is actively pursuing new strategies for market expansion and product development in the residential and commercial sectors[47]. - The company has several projects under development, including the Times King City project in Zhongxin, which has a site area of 31,509 sq.m. and a GFA for sale of 98,138 sq.m.[50]. Urban Redevelopment - The Group's revenue from urban redevelopment business was RMB 2,406.5 million for the six months ended 30 June 2021, primarily from projects in Guangzhou and Foshan, with approximately 160 projects and a potential saleable GFA of 53.40 million sq.m.[156]. - The urban redevelopment business generated revenue of RMB 2,406.5 million, primarily from projects in Guangzhou and Foshan[30]. Financial Instruments and Debt - On June 4, 2021, the Company issued USD 400,000,000 of 5.55% senior notes due 2024, equivalent to approximately RMB 2,584,037,000[173]. - On April 22, 2021, the Company issued USD 200,000,000 of 5.30% senior notes due 2022, equivalent to approximately RMB 1,292,018,000[174]. - The total interest-bearing bank loans and other borrowings were approximately RMB 54,898.1 million as of June 30, 2021, with borrowings due within one year decreasing from RMB 18,070.5 million to RMB 10,834.2 million[172]. - The Group's outstanding loans were secured by investment properties, trade receivables, inventories, and property, plant, and equipment with carrying values of approximately RMB 518.0 million, RMB 1,798.6 million, RMB 5,574.6 million, and RMB 609.3 million, respectively[172].
时代中国控股(01233) - 2021 - 中期财报