Financial Performance - For the six months ended June 30, 2024, the company reported contract sales of approximately RMB 7.83 billion, with a corresponding contracted construction area of approximately 422,550 square meters[1]. - The company's revenue for the period was approximately RMB 1.32 billion, with a gross profit of approximately RMB 215 million[2]. - The net loss for the period was approximately RMB 672.71 million, compared to a net loss of RMB 3.66 million for the same period in 2023[3]. - The basic loss per share for the period was RMB 0.149, compared to RMB 0.008 for the same period in 2023[3]. - The group reported a net loss of RMB 672.71 million and a net cash outflow of RMB 745.46 million for the six months ending June 30, 2024[9]. - The group's revenue for the six months ended June 30, 2024, was RMB 1,172,661 thousand, a decrease from RMB 3,781,789 thousand in the same period of 2023, representing a decline of approximately 68.96%[15]. - The company's revenue from sales of properties reached RMB 924,073,000, up from RMB 605,541,000 in the previous year[4]. - The group confirmed revenue of approximately RMB 1.32 billion for the six months ending June 30, 2024, compared to RMB 3.96 billion for the same period in 2023, representing a decline of about 66.7%[64]. Expenses and Liabilities - The company incurred selling expenses of approximately RMB 100.21 million and administrative expenses of approximately RMB 216.63 million during the period[2]. - The financial expenses net amount was approximately RMB 86.44 million, compared to RMB 93.77 million in the previous year[2]. - The company has a total of RMB 2,411,348,000 in borrowings, which is an increase from RMB 1,972,978,000 as of December 31, 2023[5]. - The company's current liabilities exceeded current assets by RMB 5,047,370,000, indicating potential liquidity issues[8]. - The total liabilities reached RMB 11,120,123,000, down from RMB 17,281,301,000 as of December 31, 2023[5]. - The group reported a significant increase in financial and contract asset impairment losses, totaling approximately RMB 130.30 million[2]. Assets and Cash Flow - As of June 30, 2024, the total assets of the company amounted to RMB 10,415,002,000, compared to RMB 19,353,585,000 as of December 31, 2023, reflecting a significant decrease[4]. - The cash and cash equivalents stood at RMB 180,365,000, a sharp decline from RMB 988,161,000 in the previous year[5]. - The company reported restricted cash of 99,315 thousand RMB as of June 30, 2024, compared to 180,365 thousand RMB in the previous year, reflecting a significant decrease of approximately 45%[42]. - The company's cash and cash equivalents were reported at 237,686 thousand RMB, down from 1,087,476 thousand RMB year-over-year, representing a decrease of approximately 78%[42]. Market and Sales Strategy - The group plans to actively adjust sales and pre-sale activities to better respond to market demand and improve cash flow collection[9]. - The company has maintained its strategy of "product differentiation, asset lightness, and revenue diversification" for over ten years, aiming to enhance product innovation and investment returns[52]. - The company is expanding its market presence with new developments in cities like Nanjing and Chengdu, contributing to its overall growth strategy[62]. - The company anticipates that the Chinese real estate industry will continue to undergo significant adjustments, with a focus on healthy cash flow, prudent investment choices, and strong sales capabilities being essential for survival[52]. Project Development and Acquisitions - The company obtained 36 new projects during the period, including 2 in China and 34 in the United States[47]. - The company delivered over 2,300 residential units in China and more than 1,200 units in the United States during the period[47]. - The group has signed 76 development and construction service projects, with a total saleable area of 5,028,532 square meters and an estimated saleable value of approximately RMB 102.82 billion[54]. - The company completed the sale of a portion of its shares in Landsea Homes Corporation, reducing its ownership to below 50%, which alleviated cash flow pressures and provided a clearer reflection of its operations in China[51]. Financial Guidance and Future Outlook - The board has assessed that the group will generate sufficient funds to meet its financial obligations over the next twelve months, despite significant uncertainties[10]. - Future guidance indicates a focus on strategic acquisitions to bolster growth and market share in key regions[19]. - The company plans to continue expanding its market presence and investing in new technologies to enhance operational efficiency[19]. Tax and Regulatory Matters - The company did not make any provisions for Hong Kong profits tax for the periods ended June 30, 2024, and June 30, 2023, due to the absence of taxable profits[25]. - The company’s effective corporate income tax rate in mainland China remained at 25% for the six months ended June 30, 2024[26]. - The company’s federal and state tax rate in the U.S. was 27.30% for the six months ended June 30, 2024, compared to 26.30% for the same period in 2023[26]. Corporate Governance and Reporting - The audit committee reviewed the unaudited interim consolidated financial information for the six months ending June 30, 2024[91]. - The interim report will be published on the company's and the stock exchange's websites[92].
朗诗绿色管理(00106) - 2024 - 中期业绩