Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 5,244,150, a decrease of 46.6% compared to RMB 9,814,296 for the same period in 2023[1]. - Gross profit for the same period was RMB 198,635, down 89.5% from RMB 1,893,107 in 2023[1]. - The net loss for the six months ended June 30, 2024, was RMB 241,012, compared to a profit of RMB 813,760 in 2023[2]. - Total comprehensive loss for the period was RMB 271,085, a significant decline from a total comprehensive income of RMB 842,488 in the previous year[2]. - The basic loss per share for the six months ended June 30, 2024, was RMB (6.68), compared to earnings per share of RMB 1.72 in 2023[2]. - The group reported a pre-tax loss of RMB 211,362 thousand, compared to a profit of RMB 1,532,844 thousand for the same period in 2023[12][13]. - The company reported a loss attributable to owners of the company of RMB (327,653,000) for the six months ended June 30, 2024, compared to a profit of RMB 84,140,000 in 2023[18]. - The total contract sales amount for the six months ending June 30, 2024, was approximately RMB 19,683,000,000, representing a year-on-year decrease of about 1.29%[43]. - The total contract sales area for the same period was approximately 868,378 square meters, a year-on-year decrease of about 14%[43]. Assets and Liabilities - Non-current assets decreased to RMB 37,938,836 as of June 30, 2024, from RMB 39,814,647 as of December 31, 2023[3]. - Current liabilities increased to RMB 66,808,353 as of June 30, 2024, compared to RMB 70,271,837 at the end of 2023[4]. - The company's net asset value was RMB 34,799,677 as of June 30, 2024, slightly down from RMB 35,124,989 at the end of 2023[4]. - As of June 30, 2024, the total interest-bearing debt was RMB 40,483,561,000, an increase from RMB 35,238,088,000 as of December 31, 2023[34]. - The net leverage ratio (net interest-bearing debt to equity) increased to 79% from 71% at the end of 2023, indicating a higher level of financial leverage[34]. Income and Expenses - The company reported other income of RMB 231,496, an increase of 11.3% from RMB 207,845 in the previous year[1]. - Financing costs for the period were RMB (399,489), compared to RMB (375,812) in the same period last year, indicating an increase in financing expenses[1]. - Total financing costs for the six months ended June 30, 2024, were RMB 399,489 thousand, compared to RMB 375,812 thousand in the previous year, reflecting an increase of 6.1%[14]. - The company's income tax expense for the six months ended June 30, 2024, was RMB 10,645,000, compared to RMB 302,770,000 for the same period in 2023[15]. - The deferred tax items showed an increase to RMB 105,429,000 in 2024 from RMB 20,307,000 in 2023[15]. Real Estate Development - The total area of real estate investment in the first half of 2024 was RMB 52,529 billion, a year-on-year decrease of 10.1%[30]. - The sales area of commercial housing in the first half of 2024 was 47,916 million square meters, down 19.0% year-on-year, with residential sales area declining by 21.9%[30]. - The company has developed a residential living system aimed at enhancing quality of life, focusing on smart community features such as smart access and security[30]. - As of June 30, 2024, the company has 48 real estate development projects in cities including Foshan, Guangzhou, Chongqing, Nanjing, Jurong, and Xi'an, focusing on residential and mixed-use properties[37]. - The total unsold or pre-sold property projects have a saleable area of 4,618,759 square meters[37]. - The company has a total of 6,412,712 square meters of real estate under development in Chongqing, with 4,404,627 square meters already completed[41]. - The company’s completed and under-development properties in Chongqing have a total rental area of 4,112,627 square meters[41]. Corporate Governance - The company continues to adhere to corporate governance codes, with no specific term limits for directors, ensuring compliance with the intended objectives[56]. - The audit committee consists of two independent non-executive directors and one non-executive director, ensuring appropriate financial oversight[55]. - The company has adopted a code of conduct for securities trading by directors, confirming compliance with the standards set forth[57]. - The board of directors consists of non-executive directors, including Mr. Jiang Tiefeng, Mr. Yu Zhiliang, and Mr. Li Yao, along with executive directors Dr. Su Shuhui, Mr. Huang Jingyuan, and Ms. Chen Yan, as well as independent non-executive directors Dr. Wang Yongquan, Ms. Chen Yanping, Dr. Shi Xinping, and Mr. Ye Wenqi[59]. Workforce and Dividends - The company has maintained a workforce of 799 employees in China and Hong Kong as of June 30, 2024, down from 859 employees as of December 31, 2023[53]. - No interim dividend has been declared for the six months ending June 30, 2024, consistent with the same period in 2023[52]. - The proposed final dividend for the year ended December 31, 2023, is HKD 0.012 per share, down from HKD 0.03 per share in 2022, with a total amount of approximately RMB 53,703,000[19].
招商局置地(00978) - 2024 - 中期业绩