Real Estate Market Performance - In the first half of 2021, the saleable area of commercial housing in China was approximately 886 million sq.m., representing a year-on-year increase of approximately 27.7%[11]. - The sales volume of commercial housing in China reached approximately RMB 9,293,100 million, reflecting an increase of approximately 38.9% compared to the previous year[11]. - The completed gross floor area (GFA) of real estate properties in China was approximately 365 million sq.m., which is an increase of approximately 25.7% year-on-year[11]. - The overall real estate market in China showed significant growth in the first half of 2021, indicating a positive trend for future investments and developments[11]. - The real estate market in Henan Province is expected to continue its steady growth, driven by urbanization and the development of new urban areas[13]. Investment and Development in Henan Province - In Henan Province, investment in real estate development amounted to approximately RMB 372,977 million, representing a year-on-year increase of approximately 11.5%[12]. - Investment in residential properties in Henan Province was approximately RMB 313,258 million, showing a year-on-year increase of 13.8%[12]. - The GFA of newly commenced projects in Henan Province was approximately 74.47 million sq.m., reflecting a year-on-year increase of approximately 7.3%[12]. - The completed GFA of real estate properties in Henan Province was approximately 25.12 million sq.m., representing a significant year-on-year increase of approximately 82.7%[12]. - The completed GFA of residential properties in Henan Province was approximately 19.77 million sq.m., which is a year-on-year increase of approximately 77.6%[12]. Financial Performance - The Group's revenue for the six months ended 30 June 2021 was approximately RMB 742.5 million, up 45.2% from RMB 511.2 million in the same period of 2020[33]. - Gross profit increased by approximately RMB 96.1 million, or 58.7%, to RMB 259.9 million, with a gross profit margin of 35.0%[34]. - Profit for the period rose by approximately RMB 13.1 million, or 41.0%, to RMB 44.9 million compared to RMB 31.9 million in the same period last year[35]. - Total contracted sales amounted to RMB 1,809.6 million, representing a 67.1% increase compared to RMB 1,083.2 million in the previous year[28]. - Contracted sales for residential units reached RMB 1,579.8 million, a 72.2% increase from RMB 917.3 million in the same period last year[28]. Cost and Expenses - Selling and marketing expenses rose by approximately 96.0% to RMB 62.9 million for the six months ended June 30, 2021, compared to RMB 32.1 million for the same period in 2020[58]. - Administrative expenses rose by approximately 26.3% from RMB 53.9 million for the six months ended June 30, 2020, to approximately RMB 68.1 million for the same period in 2021[64]. - Income tax expenses increased by approximately 87.7% from RMB 39.1 million for the six months ended June 30, 2020, to approximately RMB 73.4 million for the same period in 2021[64]. Assets and Liabilities - Total assets as of June 30, 2021, were approximately RMB 9,807.8 million, up from RMB 8,508.6 million as of December 31, 2020[75]. - Total liabilities as of June 30, 2021, were RMB 8,292,365, compared to RMB 6,978,477 as of December 31, 2020, indicating an increase of about 18.8%[173]. - The Group's net assets decreased from approximately RMB 1,530.1 million as of December 31, 2020, to approximately RMB 1,515.4 million as of June 30, 2021[75]. - The Group's trade and other receivables and prepayments increased significantly to RMB 851,061 as of June 30, 2021, compared to RMB 275,865 at the end of 2020, marking a rise of approximately 208.5%[171]. Cash Flow and Financing - Net cash generated from operating activities was RMB 162,817,000, contrasting with a net cash used of RMB 299,160,000 in the previous year[192]. - Cash flow from financing activities generated a net cash of RMB 236,173,000, a decrease from RMB 421,199,000 in the previous year[194]. - The company reported a net decrease in cash and cash equivalents of RMB 315,573,000, compared to a decrease of RMB 96,532,000 in the prior year[194]. - Proceeds from bank borrowings amounted to RMB 259,000,000, significantly higher than RMB 79,000,000 in the same period last year[194]. Corporate Governance and Shareholding - The Company has complied with all applicable code provisions of the Corporate Governance Code during the six months ended June 30, 2021[123]. - The Group does not recommend the payment of an interim dividend for the six months ended June 30, 2021[98]. - As of June 30, 2021, Mr. LI Xiaobing holds 855,000,000 ordinary shares, representing approximately 71.25% of the company's shareholding[147]. - The total number of shares available for issue under the Share Option Scheme was 120,000,000 shares, representing approximately 10% of the issued share capital of the Company[144]. Future Outlook and Strategy - The Group plans to enhance marketing efforts and inventory clearance, control development costs, and improve product standardization in the second half of 2021[116]. - The Group aims to develop areas in Henan Province, focusing on Xuchang City and expanding into neighboring cities[117].
恒达集团控股(03616) - 2021 - 中期财报