Company Overview - The Company has been listed on the Hong Kong Stock Exchange since February 2010, under stock code 1966[3]. - The Group's headquarters is located in Shanghai, which serves as the operational hub for its business activities[3]. - The Group's mission is to "Create Smart Living to Help Seize Happiness," emphasizing its commitment to innovative property solutions[5]. - The Company aims to deepen its strategic plan of "One Body Two Wings" to secure a leading regional position through proactive and prudent development strategies[6]. Property Development and Strategy - The Group's property projects are distributed across 67 cities, including major locations such as Beijing, Shanghai, and Shenzhen[5]. - The Company focuses on key economic zones including the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area for its development strategy[3]. - The Group aims to optimize its land bank structure while focusing on first-tier and second-tier core cities[67]. - The strategy of "One Body Two Wings" focuses on property development, SCE Funworld shopping malls, and Funlive long-term rental apartments[67]. - The group is adapting to the "Centralised Land Supply" policy, which has increased land supply quality and prices in key cities[67]. Financial Performance - For the six months ended June 30, 2021, the company achieved a revenue of approximately RMB20,386.6 million, representing a year-on-year increase of 34.7% compared to RMB15,135.2 million in the same period of 2020[22]. - The gross profit for the same period was RMB5,109.8 million, reflecting a growth of 20.9% from RMB4,224.9 million in the prior year[22]. - The profit attributable to owners of the parent was RMB2,710.9 million, which is a 7.7% increase from RMB2,516.6 million year-on-year[22]. - The contracted sales amount reached approximately RMB59.051 billion, marking a significant year-on-year growth of 47.3%[35]. - The average selling price of properties during the period was RMB15,931 per sq.m., an increase of 8.5% compared to the same period last year[35]. Assets and Liabilities - The total assets as of June 30, 2021, were RMB178,209.4 million, a 4.5% increase from RMB170,614.4 million at the end of 2020[23]. - The total debts increased to RMB50,554.0 million, up 8.6% from RMB46,562.9 million at the end of 2020[23]. - The Group maintained a liability to asset ratio (excluding contract liabilities) of 69.5%, which is considered healthy within the industry[79]. - As of June 30, 2021, the net gearing ratio was 77.9%, an increase from 59.2% as of December 31, 2020[145][147]. Sales and Market Performance - The Group recognized property sales income of approximately RMB 19.708 billion, representing a year-on-year increase of 34.2%[57]. - The total contracted sales area reached 3,706,741 sq.m., with a total contracted sales amount of RMB 59,051 million[44]. - Xiamen, Fuzhou, and Suzhou were the top-performing second-tier cities, contributing RMB 15.412 billion, RMB 3.447 billion, and RMB 3.617 billion in contracted sales, respectively[52]. - The Yangtze River Delta Economic Zone accounted for 54.7% of the total sales income, with 855,193 sq.m. sold and RMB 10,779 million in income[62]. Investment and Financing - The group added 19 projects across 16 cities in the first half of 2021, with a total land cost of approximately RMB 31.425 billion, of which RMB 26.251 billion is attributable to the group[67]. - The average financing cost was 6.3%, a slight decrease compared to the same period last year[79]. - The Group successfully issued offshore senior notes totaling US$650 million with coupon rates of 6% and 5.95% in February and March 2021 respectively[78]. - The Group's capital commitments for properties under development in Mainland China amounted to RMB22,385,546,000 as of June 30, 2021, compared to RMB19,423,718,000 as of December 31, 2020, reflecting an increase of approximately 15.1%[159]. Shareholder Information - Mr. Wong Chiu Yeung holds 2,113,000,000 shares, representing 50.05% of the Company's issued share capital, indicating significant ownership concentration[176]. - Mr. Chen Yuanlai holds a total of 250,230,000 shares, which is 5.93% of the Company's issued share capital, reflecting a notable stake in the Company[176]. - The company adopted a share option scheme on April 23, 2018, aimed at providing incentives to eligible participants contributing to the group's success[195]. - The 2018 share option scheme will remain in force for a period of 10 years, expiring on April 22, 2028[196].
中骏集团控股(01966) - 2021 - 中期财报