融创中国(01918) - 2025 - 中期业绩

Performance Highlights This section presents key financial and operational highlights for the six months ended June 30, 2025, reflecting significant declines in revenue and increased losses Six Months Ended June 30, 2025 Key Financial and Operating Data | Indicator | Six Months Ended June 30, 2025 (CNY) | Change from Prior Period | | :--- | :--- | :--- | | Contracted Sales (Group and Joint Ventures/Associates) | 23.55 billion | - | | Attributable Land Reserve (Group and Joint Ventures/Associates) | 86.24 million sq.m. | - | | Unsold Attributable Land Reserve (Group and Joint Ventures/Associates) | 63.06 million sq.m. | - | | Revenue | 19.99 billion | Decreased by approximately 41.7% | | Gross Loss | 2.08 billion | Loss increased by approximately 14.9% | | Loss Attributable to Owners of the Company | 12.81 billion | Loss decreased by approximately 14.4% | | Total Equity | 44.88 billion | - | | Equity Attributable to Owners of the Company | 30.85 billion | - | | Total Borrowings | 254.82 billion | Decreased by approximately 4.85 billion from year-end | Interim Condensed Consolidated Statement of Comprehensive Income This section presents the interim condensed consolidated statement of comprehensive income for the six months ended June 30, 2025 and 2024, detailing revenue, costs, and losses Interim Condensed Consolidated Statement of Comprehensive Income for the Six Months Ended June 30 | Indicator | 2025 (thousand CNY) | 2024 (thousand CNY) | | :--- | :--- | :--- | | Revenue | 19,987,601 | 34,279,616 | | Cost of Sales | (22,071,876) | (36,088,266) | | Gross Loss | (2,084,275) | (1,808,650) | | Other Income and Gains | 5,614,027 | 2,529,694 | | Selling and Marketing Costs | (1,086,906) | (1,113,005) | | Administrative Expenses | (1,687,102) | (1,780,002) | | Other Expenses and Losses | (7,543,512) | (6,398,392) | | Net Impairment Losses Under Expected Credit Loss Model | (1,248,503) | (1,110,822) | | Operating Loss | (8,036,271) | (9,681,177) | | Finance Income | 45,348 | 102,795 | | Finance Costs | (5,290,724) | (6,486,933) | | Net Finance Costs | (5,245,376) | (6,384,138) | | Share of Net Loss of Joint Ventures and Associates Accounted for Using the Equity Method | (285,412) | (1,296,787) | | Loss Before Income Tax | (13,567,059) | (17,362,102) | | Income Tax Credit | 689,210 | 697,076 | | Loss for the Period and Total Comprehensive Loss | (12,877,849) | (16,665,026) | Loss Per Share Attributable to Owners of the Company | Indicator | 2025 (CNY) | 2024 (CNY) | | :--- | :--- | :--- | | Basic Loss Per Share | (1.26) | (1.79) | | Diluted Loss Per Share | (1.26) | (1.79) | Interim Condensed Consolidated Statement of Financial Position This section provides the interim condensed consolidated statement of financial position as of June 30, 2025 and December 31, 2024, outlining assets, equity, and liabilities Consolidated Statement of Financial Position as of June 30, 2025 | Indicator | June 30, 2025 (thousand CNY) | December 31, 2024 (thousand CNY) | | :--- | :--- | :--- | | ASSETS | | | | Total Non-current Assets | 185,865,452 | 193,416,085 | | Total Current Assets | 664,952,408 | 689,467,066 | | Total Assets | 850,817,860 | 882,883,151 | | EQUITY AND LIABILITIES | | | | Equity Attributable to Owners of the Company | 30,851,724 | 40,521,108 | | Non-controlling Interests | 14,024,220 | 14,625,260 | | Total Equity | 44,875,944 | 55,146,368 | | Total Non-current Liabilities | 46,894,224 | 84,749,731 | | Total Current Liabilities | 759,047,692 | 742,987,052 | | Total Liabilities | 805,941,916 | 827,736,783 | | Total Equity and Liabilities | 850,817,860 | 882,883,151 | Notes This section details the accounting policies, segment information, and specific financial items, providing context to the interim financial statements 1 General Information This section describes the company's principal activities, incorporation details, listing status, and presentation currency - The Group is principally engaged in property development and investment, culture and tourism city construction and operation, property management services, and other businesses in China[10] - The Company is a limited liability company incorporated in the Cayman Islands, with its shares listed on the Main Board of The Stock Exchange of Hong Kong Limited[10][11] - This interim condensed consolidated financial information is presented in Renminbi (RMB)[12] 2 Accounting Policies This section outlines the accounting policies adopted, the impact of new standards, and significant uncertainties regarding the group's ability to continue as a going concern - The Group first applied "Lack of Exchangeability – Amendments to HKAS 21 and HKFRS 1" for the annual reporting period beginning January 1, 2025, with no significant impact on amounts recognized in prior and current periods[14] - The Group is evaluating several new standards, amendments, and interpretations not yet mandatorily adopted, including those related to contracts for electricity produced from natural energy sources and amendments to classification and measurement of financial instruments, effective in 2026 or 2027[15][16] - As of June 30, 2025, the Group reported a net loss of approximately RMB12.88 billion, net current liabilities of approximately RMB94.10 billion, and overdue borrowings totaling approximately RMB112.49 billion, indicating significant going concern uncertainties[17] - Management has implemented several plans and measures to alleviate liquidity pressure, including: a domestic debt restructuring plan that has been approved and partially executed through buybacks and share-based settlements; an offshore debt restructuring plan launched with over 75% creditor support; loan extensions totaling approximately RMB36.58 billion; special "guaranteed delivery" loans, bank matching financing, and "white list project" financing totaling approximately RMB38.56 billion; active resolution of domestic litigation; organizational restructuring for cost control; accelerated property presales and cash collection; and full commitment to "guaranteed delivery" efforts[18][19][20] - Despite management's plans, the Group's ability to continue as a going concern remains subject to significant uncertainties, including the successful advancement and completion of debt management measures (including offshore debt restructuring), successful resolution of major financial institution litigation, and successful achievement of sales targets and cash collection[21][24] [3 Segment Information](index=9&type=section&id=3%20%E5%88%86%E9%83%A8%E8%B3%87%E6%96%