Financial Performance - The total revenue for the six months ended June 30, 2021, was approximately RMB 942.3 million, an increase of 34.5% compared to RMB 700.4 million for the same period in 2020[15]. - The group's total revenue for the six months ended June 30, 2021, was approximately RMB 1,170.6 million, an increase of about RMB 302.0 million compared to RMB 868.6 million for the same period in 2020[44]. - Revenue from commercial operation and management services was approximately RMB 704.0 million, a year-on-year increase of 36.8%, accounting for about 60.1% of total revenue[47]. - Revenue from residential property management services increased by 35.7% to approximately RMB 228.3 million, representing about 19.5% of total revenue[49]. - The company reported a profit of RMB 203,338 thousand for the six months ended June 30, 2021, compared to RMB 144,912 thousand for the same period in 2020, representing an increase of approximately 40.4%[120]. - The net profit for the six months ended June 30, 2021, was approximately RMB 204.8 million, a 41.3% increase from RMB 144.9 million in the prior year[61]. - The gross profit for the six months ended June 30, 2021, was approximately RMB 383.4 million, representing a 50.5% increase year-on-year[55]. - The gross profit margin improved to 32.8%, up from 29.3% in the same period last year, reflecting effective cost control and business growth[55]. Operational Highlights - As of June 30, 2021, the company operated 71 retail commercial properties with a total built area of approximately 8.8 million square meters and signed contracts for 126 retail commercial properties with a total contracted built area of about 13.5 million square meters[3]. - The total area of operational buildings reached 8.8 million square meters, up from 7.0 million square meters in the same period of 2020, an increase of 1.8 million square meters[15]. - The number of operational projects increased to 71, adding 20 new projects compared to 51 in the same period of 2020[15]. - The company has delivered property management services for 69 residential properties with a total delivered built area of approximately 16.4 million square meters as of June 30, 2021[7]. - The company has signed contracts for 125 residential properties with a total contracted built area of about 28.0 million square meters[7]. - The company added 418,777 square meters of new operational retail commercial properties in the first half of 2021[20]. - The average occupancy rate for the group's retail properties as of June 2021 was 92.3%, an increase from 87.1% in June 2020[26]. - The total area of opened properties reached 8,839 thousand square meters, with the highest occupancy rate recorded at 98.7% for Baolong Yicheng[26]. Strategic Initiatives - The company aims to enhance the quality of life and promote urbanization in China through its commercial operation services[3]. - The company plans to open several new retail properties in the second half of 2021, totaling an estimated construction area of 1,154,361 square meters[30]. - The group plans to open 18 new projects in the second half of 2021, following the completion of 3 shopping plazas and 1 commercial street in the first half[40]. - The group aims to enhance its market influence by focusing on several potential projects to establish them as city benchmarks[41]. - The company is focusing on advancing smart business and enhancing occupancy rates as part of its operational strategy[38]. - The company has established a partnership with Tencent to accelerate research and development in smart business solutions[34]. Shareholder Information - The company proposed an interim dividend of HKD 0.15 per share, totaling approximately HKD 94.9 million (around RMB 79.0 million) for the six months ending June 30, 2021[87]. - As of June 30, 2021, the total issued shares of the company were 644 million, with major shareholders holding significant stakes, including Mr. Xu Jian Kang with 62.89%[83]. - The company has a share incentive plan adopted on September 10, 2020, aimed at recognizing and incentivizing eligible participants for their contributions[89]. - The company’s major shareholder, Bao Long Real Estate (Viking) Holdings Limited, also holds 62.89% of the shares[84]. Financial Position - The total assets as of June 30, 2021, amounted to RMB 4,878,341, an increase from RMB 4,520,423 as of December 31, 2020[116]. - The total liabilities increased to RMB 2,573,747 thousand as of June 30, 2021, up from RMB 2,354,520 thousand as of December 31, 2020, representing an increase of approximately 9.3%[117]. - The company's total equity reached RMB 4,878,341 thousand as of June 30, 2021, compared to RMB 4,520,423 thousand as of December 31, 2020, reflecting a growth of about 7.9%[117]. - The group's cash and cash equivalents as of June 30, 2021, were approximately RMB 3,796.4 million, an increase of 10.1% from RMB 3,449.1 million as of December 31, 2020, attributed to business growth[70]. Employee and Talent Management - The total number of employees increased to 6,012 as of June 30, 2021, up from 5,390 as of December 31, 2020, indicating a focus on talent acquisition and retention[76]. - The company plans to utilize HKD 82 million for hiring additional management personnel, with HKD 52 million remaining unutilized as of June 30, 2021[108]. Compliance and Governance - The company has complied with all applicable code provisions under Appendix 14 of the Listing Rules as of June 30, 2021[101]. - The company has adopted the corporate governance code as the basis for its corporate governance practices since its listing date[100].
宝龙商业(09909) - 2021 - 中期财报