Financial Performance - For the six months ended June 30, 2024, the company reported operating revenue of RMB 210,938,000, a slight decrease of 1.1% compared to RMB 213,725,000 in the same period of 2023[9]. - The company's net profit for the period was RMB 59,687,000, representing an increase of 2.0% from RMB 58,535,000 in the prior year[10]. - The operating expenses decreased to RMB 120,525,000, down 12.1% from RMB 137,215,000 in the previous year[10]. - The basic earnings per share for the period was RMB 0.0053, reflecting a stable performance compared to the previous year[9]. - The total comprehensive income for the period, after tax, was RMB 60,430,000, down from RMB 64,713,000 in the same period last year[10]. - For the six months ended June 30, 2024, the basic and diluted earnings per share were RMB 0.0053, compared to RMB 0.0054 for the same period in 2023, reflecting a slight decrease[12]. - The total profit attributable to equity holders of the parent company was RMB 51,649 thousand, a decrease of 1.3% from RMB 52,308 thousand in 2023[12]. - The total comprehensive income attributable to equity holders of the parent company was RMB 52,392 thousand, down 10.5% from RMB 58,486 thousand in the previous year[12]. - The company reported a pre-tax profit of RMB 83,262 thousand, which is an increase of 16.9% from RMB 71,221 thousand in the previous year[17]. - Total revenue for the six months ended June 30, 2024, was RMB 158,692,000, a slight increase from RMB 158,042,000 for the same period in 2023, representing a growth of 0.41%[35]. Assets and Liabilities - Non-current assets totaled RMB 3,320,498 thousand as of June 30, 2024, an increase of 7.7% from RMB 3,082,906 thousand at the end of 2023[12]. - Current assets decreased to RMB 4,588,241 thousand from RMB 4,796,459 thousand, representing a decline of 4.4%[12]. - The total assets amounted to RMB 7,908,739 thousand, slightly up from RMB 7,879,365 thousand, indicating a growth of 0.4%[12]. - The total liabilities stood at RMB 3,208,355 thousand, showing a slight decrease from RMB 3,209,241 thousand at the end of 2023[15]. - The equity attributable to equity holders of the parent company increased to RMB 4,211,717 thousand from RMB 4,189,495 thousand, reflecting a growth of 0.5%[14]. - Total liabilities as of June 30, 2024, were RMB 4,416,160,000, down from RMB 4,827,304,000 as of December 31, 2023, indicating a decrease of 8.5%[32]. - The total amount of current liabilities related to interest-bearing borrowings decreased to RMB 200,793 thousand as of June 30, 2024, from RMB 299,295 thousand as of December 31, 2023, reflecting a decline of approximately 32.9%[55]. Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2024, showed a net outflow of RMB 29,135 thousand, compared to a net outflow of RMB 22,203 thousand in 2023[17]. - The company reported a net cash inflow from investing activities of RMB 46,229,000, compared to a net outflow of RMB 156,361,000 in the same period of 2023, indicating a significant improvement[18]. - The company’s cash and cash equivalents decreased by RMB 39,508,000 during the six months ended June 30, 2024, compared to an increase of RMB 1,247,305,000 in the same period of 2023[18]. - The company incurred capital expenditures of RMB 3,375,000 on investment properties for the six months ended June 30, 2024, down from RMB 7,941,000 in the same period of 2023[18]. - The company’s interest income from debt instruments measured at amortized cost was RMB 93,464,000 for the six months ended June 30, 2024, compared to RMB 75,156,000 for the same period in 2023, reflecting a growth of 24%[18]. Financial Costs and Expenses - Financial costs increased to RMB 47,455,000, up from RMB 34,975,000 in the previous year, indicating rising financing expenses[10]. - The company incurred total operating costs, sales, and administrative expenses of RMB 65,068,000, an increase of 1.97% compared to RMB 63,805,000 in the previous year[39]. - Interest expenses on borrowings rose significantly to RMB 47,074,000, up 35.5% from RMB 34,698,000 in the prior period[40]. - The company reported a net loss from financial instruments measured at fair value of RMB 20,696,000, compared to a loss of RMB 20,279,000 in the previous year[42]. - The company recognized current tax expenses of RMB 5,537,000, a decrease of 45.5% from RMB 10,155,000 in the previous year[44]. Strategic Developments - The Wuhan Optical Valley International Center project has a total floor area of 172,496 square meters, with 66.4% ownership by the company, aligning with its strategic direction in the integrated circuit industry[8]. - The company has established a joint venture with Vanke in Beijing, holding a 50% stake, to develop the Junzhuang Town project[8]. - The company plans to continue expanding its urbanization investment and property leasing segments to drive future growth[30]. - The company is focusing on enhancing its project management capabilities to improve profitability across its segments[30]. - The group is focusing on sectors such as health, strategic emerging industries, and information technology to drive business transformation and explore new economic projects[92]. Shareholder Information - As of June 30, 2024, the total number of issued shares is 9,726,246,417[100]. - Major shareholder Xitong International holds 2,917,000,000 shares, representing 29.99% of the issued shares[97]. - Guokai International has a beneficial interest of 2,430,921,071 shares, accounting for 24.99% of the issued shares[97]. - The beneficial owner Mr. Shi holds 6,104,938 shares directly and is deemed to have an interest in 1,468,356,862 shares through his control of Shangzhi Holdings, totaling 1,474,461,800 shares or 15.16%[99]. - The company declared a final dividend of HKD 0.0034 per share for the year ended December 31, 2023, approved at the annual general meeting held on June 21, 2024[11]. Corporate Governance - The company has complied with the corporate governance code, except for the absence of the chairman at the annual general meeting[101]. - The company’s executive director and president hosted the annual general meeting in the chairman's absence to ensure effective communication with shareholders[101]. - The audit committee reviewed the accounting principles and internal controls during the reporting period[105].
中国新城镇(01278) - 2024 - 中期财报