Financial Performance - The group recorded a revenue of approximately RMB 22,222.1 million for the first half of 2021, an increase of 10.8% compared to the same period in 2020[13]. - Core profit for the first half of 2021 was RMB 3,324.9 million, representing a 4.6% increase from the same period in 2020[13]. - The group's sales amount for the first half of 2021 reached RMB 56.2 billion, a year-on-year growth of 53%[17]. - The company's revenue for the first half of 2021 was approximately RMB 12,973.8 million, an increase of 0.3% compared to RMB 12,936.0 million in the same period of 2020[34]. - The equity consolidated revenue for the first half of 2021 was approximately RMB 22,222.1 million, representing a 10.8% increase from RMB 20,055.6 million in the same period of 2020[35]. - Net profit for the six months ended June 30, 2021, was approximately RMB 2,853.4 million, down from RMB 3,535.6 million in 2020, with a net profit margin of 12.8%[50]. - The company reported a total comprehensive income of RMB 3,186,742 thousand for the period, compared to RMB 3,037,173 thousand in the previous year, reflecting an increase of about 4.9%[178]. - Profit before tax from continuing operations was RMB 3,793,289 thousand, compared to RMB 5,197,688 thousand in the previous year, reflecting a decline of about 27.0%[176]. - The company reported a decrease in financing costs to RMB 762,747 from RMB 546,461 year-on-year[188]. Dividends and Shareholder Information - The company declared an interim dividend of RMB 0.37 per share for the first half of 2021[14]. - The company declared an interim dividend of RMB 0.37 per share for the six months ended June 30, 2021, compared to RMB 0.40 per share in 2020[170]. - As of June 30, 2021, the company had a total of 3,180,522,853 issued ordinary shares[127]. - Jin De Consulting Limited held 1,299,046,500 shares, representing 40.84% of the voting shares[137]. - The company’s major shareholders collectively control a significant portion of the voting shares, indicating concentrated ownership[137]. Debt and Financial Structure - The company has optimized its debt structure, with the asset-liability ratio (excluding pre-receipts) decreasing by 3.3 percentage points to 71.8% compared to the end of 2020[26]. - The net debt ratio decreased by 7.6 percentage points to 54.1%[26]. - The company successfully issued its first green bond of USD 378 million, marking a significant step in its green finance practice[26]. - The company has committed to ensuring that its controlling shareholder holds at least 35% of the issued share capital and voting rights at all times[163][169]. Property Development and Projects - The group has expanded its presence to over 40 cities, focusing on first and second-tier cities in the Greater Bay Area and Yangtze River Delta regions[10]. - New high-end projects launched in the first half of 2021 include Chengdu Zhenlin, Chongqing Tianluan, Guangzhou Zhenyue, and Hangzhou Lanyue Zhen Cui[14]. - The company launched new projects in major cities, including Guangzhou, Chongqing, Chengdu, Tianjin, and Yancheng, focusing on high-end luxury properties[64]. - The company has a land reserve of approximately 15.94 million square meters in terms of equity, with a total construction area of about 23.17 million square meters as of June 30, 2021[69]. - The company aims to diversify its land acquisition channels, focusing on the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region[69]. Marketing and Sales Strategy - The company is enhancing its marketing strategies through the "One Good House" online platform and various innovative marketing campaigns[15]. - The group is confident in achieving its sales targets for the year based on its quality and sufficient saleable resources in key cities[17]. - The average selling price increased from RMB 12,428 per square meter in 2020 to RMB 15,810 per square meter in 2021, reflecting changes in delivery and product mix[36]. Sustainability and ESG Practices - The company is committed to sustainable development and enhancing its ESG practices, aligning with China's carbon neutrality goals[28]. - The group aims to increase the proportion of green buildings and achieve energy reduction goals within the next three years[28]. - The company is committed to sustainable development strategies to achieve high-quality and stable growth[96]. Operational Performance - The overall occupancy rate of shopping malls that have been operating for more than six months reached 89%, with a year-on-year increase in foot traffic of 88% and retail sales growth of over 82%[74]. - The group has opened 10 shopping malls, with plans for 25 new malls and 11 new office buildings to open in the future, contributing to stable cash flow and profit support[72]. - The group operates 9 office buildings, maintaining an overall occupancy rate of 87% for those operating for more than six months, with a focus on high-end positioning and quality tenant structure[81]. Employee and Corporate Governance - The group has a total of approximately 5,900 employees as of June 30, 2021, with total employee costs amounting to approximately RMB 765.9 million for the six months ended June 30, 2021[119]. - The company has ongoing training and development programs for all employees to enhance their skills[120]. - The company has complied with all applicable provisions of the corporate governance code as of June 30, 2021, enhancing investor confidence and accountability[157]. Future Outlook - The company plans to expand its presence in major first- and second-tier cities while continuously enhancing brand value and operational efficiency[86]. - Future outlook includes continued market expansion and potential acquisitions to strengthen the group's competitive position in the real estate sector[107]. - The real estate industry is expected to maintain a tight policy trend in the second half of 2021, with the company focusing on a balanced and stable asset management strategy[95].
合景泰富集团(01813) - 2021 - 中期财报