Financial Performance - For the six months ended June 30, 2024, the company reported a loss of RMB 1,610,419,000 compared to a loss of RMB 580,389,000 for the same period in 2023, representing an increase in loss of approximately 177.5%[2] - The company's revenue for the six months ended June 30, 2024, was RMB 1,942,823,000, up from RMB 1,344,909,000 in the same period of 2023, indicating a growth of approximately 44.5%[3] - The basic and diluted loss per share attributable to shareholders for the period was RMB 29.98, compared to RMB 13.36 in the previous year, reflecting an increase of approximately 125.5%[2] - The group reported a net loss of RMB 1,610 million for the six months ending June 30, 2024, due to a slowdown in the property market in mainland China[7] - The group reported a total profit of RMB 437,732 thousand for the six months ended June 30, 2024, down from RMB 585,109 thousand in the same period of 2023[20] - The fair value changes of investment properties resulted in a loss of RMB 951,714 thousand for the current period, compared to a loss of RMB 197,063 thousand in the previous year[20] - The group’s consolidated gross profit for the six months ended June 30, 2024, was approximately RMB 437.7 million, a decrease of about 25.2% compared to RMB 585.1 million for the same period last year, with a gross profit margin of approximately 23%[64] Assets and Liabilities - The total assets as of June 30, 2024, were RMB 60,460,909,000, compared to RMB 59,957,745,000 as of December 31, 2023, showing a slight increase of about 0.84%[5] - The company's non-current assets decreased from RMB 45,554,813,000 as of December 31, 2023, to RMB 44,501,994,000 as of June 30, 2024, a decline of approximately 2.3%[5] - The total liabilities decreased from RMB 39,379,480,000 as of December 31, 2023, to RMB 37,108,463,000 as of June 30, 2024, indicating a reduction of about 5.8%[5] - The company’s equity attributable to shareholders decreased from RMB 23,178,428,000 as of December 31, 2023, to RMB 21,681,055,000 as of June 30, 2024, a decline of about 6.5%[5] - As of June 30, 2024, the group's total borrowings were approximately RMB 35,726.3 million, compared to RMB 35,350.0 million as of December 31, 2023, with a debt-to-equity ratio of 113.1%[73] - The group's total assets as of June 30, 2024, were approximately RMB 104,962.9 million, a slight decrease from RMB 105,512.6 million as of December 31, 2023, with total liabilities of approximately RMB 77,154.0 million[74] Cash Flow and Liquidity - The company's cash and cash equivalents increased from RMB 486,345,000 as of December 31, 2023, to RMB 812,350,000 as of June 30, 2024, representing a growth of approximately 67%[5] - The group maintained a bank balance and cash (including restricted bank deposits) of RMB 4,270.5 million, compared to RMB 4,016.6 million in the previous year[40] - The company continues to monitor its liquidity position closely, ensuring sufficient cash flow for ongoing operations and future investments[6] - As of June 30, 2024, the group's outstanding borrowings and convertible bonds significantly exceeded its cash and cash equivalents, raising substantial doubt about its ability to continue as a going concern[7] - The board believes that the group will have sufficient working capital to meet its financial obligations due within at least the next 12 months[9] Revenue Sources - Revenue from property sales reached RMB 1,389,244 thousand, up 78.3% from RMB 777,779 thousand year-on-year[13] - Revenue from customer contracts was RMB 1,600,115 thousand, compared to RMB 988,809 thousand in the previous year, reflecting a 61.8% increase[13] - The group’s rental income was RMB 342,708 thousand, slightly down from RMB 356,100 thousand in the previous year[13] - The group reported total revenue of approximately RMB 1,942.8 million for the six months ending June 30, 2024, representing a year-on-year increase of 44.5% compared to RMB 1,344.9 million for the same period in 2023[39] - Revenue from rental investment properties was approximately RMB 342.7 million, a decrease of 3.8% from RMB 356.1 million in the same period last year[63] Market Conditions and Strategy - The group plans to actively adjust its sales and pre-sale activities to better respond to market demand and achieve budgeted sales volumes and amounts[8] - The real estate market is expected to show positive changes in the second half of 2024 due to ongoing policy support and market optimization[35] - The company aims to continue its long-term development strategy in the Guangdong-Hong Kong-Macao Greater Bay Area, focusing on core cities like Shenzhen, Hong Kong, and Zhuhai[37] - The group is focusing on the Greater Bay Area, with business covering comprehensive real estate development, commercial investment and operation, and property management services[42] Corporate Governance and Compliance - The company has adhered to all corporate governance codes as stipulated in the listing rules as of June 30, 2024[81] - The independent auditor conducted a review of the interim financial information for the six months ending June 30, 2024, confirming compliance with applicable accounting standards[84] - The board of directors includes executive directors and independent non-executive directors, ensuring governance and oversight[89] Employment and Human Resources - The group employed 2,073 staff as of June 30, 2024, a decrease from 2,368 staff as of June 30, 2023[80]
绿景中国地产(00095) - 2024 - 中期业绩