Financial Performance - Revenue for the six months ended September 30, 2024, was RMB 104,254,000, representing a 2% increase from RMB 102,224,000 in the same period of 2023[3] - Profit attributable to equity holders for the same period was RMB 20,575,000, a decrease of 9% compared to RMB 22,604,000 in 2023[3] - Basic earnings per share for the six months ended September 30, 2024, was RMB 4.1, down from RMB 4.5 in the previous year, reflecting a 9% decline[3] - Gross profit for the period was RMB 63,641,000, compared to RMB 69,678,000 in 2023, indicating a decrease in gross margin[12] - The total tax expense for the six months ended September 30, 2024, was RMB 22,131,000, compared to RMB 28,159,000 for the same period in 2023[29] - The company plans to pay a final dividend of HKD 0.02 per share, amounting to RMB 9,359,000, down from RMB 18,892,000 in the previous period[39] Assets and Liabilities - Total assets as of September 30, 2024, were RMB 1,122,688,000, slightly down from RMB 1,158,344,000 as of March 31, 2024[6] - Current liabilities decreased to RMB 481,024,000 from RMB 518,508,000, showing a reduction in short-term financial obligations[6] - The total equity value increased to RMB 860,506,000 from RMB 849,223,000, indicating a growth in shareholder equity[9] - The company reported a net cash and bank deposits of RMB 155,491,000, down from RMB 175,162,000, reflecting a decrease in liquidity[6] - The net asset liability ratio as of March 31, 2024, and September 30, 2024, is not applicable due to the company being in a net cash position[54] - The company has issued guarantees to banks for certain mortgage arrangements, with a total outstanding bank guarantee amounting to RMB 275,591,000 as of September 30, 2024[58] Project Development - The company's land reserves as of September 30, 2024, were approximately 236,756 square meters, down from 242,494 square meters as of March 31, 2024[42] - The Dongguan Jiahui Haoting Phase III residential project generated revenue of RMB 36,570,000, with 13 units delivered at an average price of RMB 20,200 per square meter[43] - The Dongguan Jiahui Haoting Phase IV residential project recorded revenue of RMB 51,145,000 from 24 units delivered, averaging RMB 21,900 per square meter[43] - The Dongguan Jiahui Haoting Phase V project generated revenue of RMB 13,963,000 from 4 units delivered, with an average price of RMB 24,500 per square meter[45] - The Huizhou Luofu Pavilion residential project, with a saleable area of approximately 30,300 square meters, recorded revenue of RMB 2,576,000 from 4 units delivered at an average price of RMB 7,800 per square meter[45] Strategic Focus and Future Outlook - The company plans to continue focusing on property development as its sole reporting segment, with no new segments introduced[19] - The company anticipates improved sales performance in the second half of the year, driven by supportive real estate policies and a gradual recovery in buyer sentiment[49] - The company plans to diversify its business development strategy, integrating culture, tourism, commerce, and residential sectors to enhance operational efficiency and achieve asset balance[51] - The company is committed to sustainable development by incorporating green building concepts into its real estate projects, aiming to create long-term value for stakeholders[48] - The company will continue to adopt flexible marketing and pricing strategies tailored to local conditions to manage inventory and enhance cash flow[49] Cash Flow Management - The company actively reduced inventory and strengthened cash flow, maintaining a healthy cash flow status despite a trend of "price for volume" in the real estate market[48] - The company completed the sale of its wholly-owned subsidiary, Dongguan Jiaxuntong Computer Products Co., Ltd., in August 2024, further enhancing cash flow[48] - As of September 30, 2024, the company held approximately RMB 155,491,000 in cash and bank deposits, ensuring sufficient resources for current operations and capital expenditures[55] Compliance and Governance - The company has adopted strict procedures to regulate directors' securities trading in compliance with the Listing Rules Appendix C3[68] - All directors confirmed compliance with the Standard Code during the relevant period[68] - The interim report for the period ending September 30, 2024, will be published on the Stock Exchange's website as required by the Listing Regulations[69]
嘉创地产(02421) - 2025 - 中期业绩