Financial Performance - For the six months ended June 30, 2021, the group achieved contract sales of approximately RMB 73.64 billion, an increase of about 58.9% year-on-year[7]. - Revenue for the same period was approximately RMB 35.17 billion, representing a year-on-year growth of about 13.3%[7]. - The gross profit was approximately RMB 9.47 billion, with a gross margin of 26.9%[7]. - Core profit attributable to the owners of the company was approximately RMB 5.58 billion, maintaining stable profitability[7]. - The net profit attributable to the parent company was RMB 6,181.9 million, reflecting a growth of about 0.4% year-on-year[15]. - Total revenue for the six months ended June 30, 2021, was approximately RMB 35,165.3 million, an increase of 13.3% compared to RMB 31,034.9 million in the same period of 2020[27]. - Operating profit decreased by RMB 1,638.3 million to approximately RMB 9,554.7 million, compared to RMB 11,193.0 million in the same period of 2020[34]. - The profit before tax was RMB 9,172,505, compared to RMB 10,249,216 in the previous year, a decrease of about 10.5%[73]. - The total comprehensive income for the six months ended June 30, 2021, was RMB 6,824,845, an increase from RMB 6,468,838 in the same period last year, representing a growth of approximately 5.5%[74]. Sales and Revenue Breakdown - The sales from the Greater Bay Area accounted for 64.3% of total contract sales, with an average selling price of RMB 24,719 per square meter[17]. - Property development revenue was approximately RMB 27,667.2 million, representing a growth of 34.2% from RMB 20,616.8 million year-on-year[24]. - Revenue from property development was RMB 27,667,193,000, up from RMB 20,616,843,000, indicating a growth of 34.9% year-over-year[97]. - The property development segment generated revenue of RMB 27,667,193 thousand, which accounted for approximately 78.5% of the total revenue from external customers[90]. - The urban renewal segment's revenue was RMB 2,904,631 thousand, a decrease from RMB 6,000,000 thousand in the same period last year, reflecting a decline of approximately 51.7%[90]. Assets and Liabilities - Total assets increased by 19.0% to RMB 289,795.3 million from RMB 243,513.6 million[22]. - The company’s total liabilities as of June 30, 2021, were approximately RMB 219,019.7 million, compared to RMB 182,842.2 million as of December 31, 2020[39]. - The total liabilities increased to RMB 151,983,868 from RMB 120,771,336, which is an increase of about 25.8%[75]. - The total equity attributable to shareholders increased by 7.4% to RMB 45,556.1 million from RMB 42,403.2 million[22]. - The cash and bank balances slightly decreased by 1.9% to RMB 42,059.1 million from RMB 42,869.2 million[22]. Debt and Financing - The group maintained a net debt-to-equity ratio of 60.8% and an average financing cost of 4.60% for new borrowings[7]. - The company issued two batches of senior notes totaling USD 600 million, with interest rates of 4.5% and 4.25%[40]. - The company has issued a total of $2.3 billion in preferred notes with varying interest rates, including $200 million at 5.80% and $450 million at 5.42%[138]. - The company has a total of $1.98 billion in preferred notes maturing in 2021, with an interest rate of 8.05%[138]. - The company has a current liability of RMB 9,918 million due within one year, compared to RMB 4,372 million in the previous year[145]. Shareholder Information - The board declared an interim cash dividend of HKD 0.49 per share for the six months ended June 30, 2021, compared to HKD 0.43 for the same period in 2020[53]. - As of June 30, 2021, Mr. Ji Haipeng holds 3,401,600,000 shares as a family trust beneficiary, representing 61.61% of the issued share capital[43]. - Major shareholders with 5% or more interests include Mr. Ji Haipeng with a total of 4,252,881,250 shares, representing 77.03% of the issued share capital[50]. - The total number of issued shares as of June 30, 2021, is 5,521,078,450[51]. Corporate Governance - The board of directors confirmed compliance with the corporate governance code during the six months ended June 30, 2021[56]. - The company’s governance practices are based on the principles and code provisions of the corporate governance code as per the listing rules[55]. - The company confirmed that all directors complied with the standards set out in the standard code during the six months ended June 30, 2021[56]. Acquisitions and Investments - The company acquired Guangxi Longguang Huida Expressway Investment Co., Ltd. and Xinming Paper (Shenzhen) Co., Ltd. for a total consideration of RMB 1,170,000,000[166]. - The identifiable net assets acquired amounted to RMB 1,688,948,000, with non-controlling interests of RMB (148,418,000)[167]. - The acquired subsidiaries contributed RMB 7,598,943,000 in revenue and RMB 555,849,000 in profit to the group since acquisition[186]. Cash Flow and Investments - Operating cash flow for the first half of 2021 was RMB 1,672,401,000, down 69% from RMB 5,412,333,000 in the previous year[82]. - The company incurred a net cash outflow from investing activities of RMB 6,529,629,000, compared to RMB 16,038,781,000 in the same period of 2020[83]. - The cash flow from investing activities showed a net inflow of RMB 8,161,823,000 from the acquisitions[186].
龙光集团(03380) - 2021 - 中期财报