建发股份(600153) - 2025 Q2 - 季度财报

Item 1. Definitions Commonly Used Terms Definitions This chapter defines key terms such as company names, controlling shareholder, major business segments, and the reporting period for clarity - The reporting period refers to January 1, 2025, to June 30, 2025[11] - C&D Inc.'s controlling shareholder is Xiamen C&D Group Co., Ltd[11] - The company's main business segments include six professional groups: C&D Steel Group, C&D Pulp & Paper Group, C&D Agri-Products Group, C&D Consumer Products Group, C&D Minerals Group, and C&D Energy & Chemical Group, as well as controlled subsidiaries like C&D Real Estate, Lianfa Group, and Red Star Macalline[11] Item 2. Company Profile and Key Financial Indicators I. Company Information This section provides the company's basic registration information, including its Chinese name, abbreviation, foreign name, acronym, and legal representative Lin Mao - The company's Chinese name is Xiamen C&D Inc., abbreviated as C&D Inc.[13] - The company's legal representative is Lin Mao[13] II. Contact Persons and Contact Information This section lists detailed contact information for the company's Board Secretary Jiang Guizhi and Securities Affairs Representative Huang Liqiong, including address, phone, fax, and email, to facilitate investor communication - The Board Secretary is Jiang Guizhi, and the Securities Affairs Representative is Huang Liqiong[14] - The contact address for both is 29th Floor, C&D International Building, No. 1699 Huandao East Road, Siming District, Xiamen[14] III. Overview of Basic Information Changes This section provides detailed information on the company's registered and office addresses, as well as its official website and email address - The company's registered and office addresses are both 29th Floor, C&D International Building, No. 1699 Huandao East Road, Siming District, Xiamen, postal code 361008[15] - The company's website is http://www.chinacnd.com, and its email address is pub@chinacnd.com[15] IV. Overview of Information Disclosure and Document Storage Location Changes This section specifies the designated newspapers and website for the company's information disclosure, as well as the location for the semi-annual report - The newspapers selected for the company's information disclosure include China Securities Journal, Shanghai Securities News, Securities Times, Securities Daily, and Economic Information Daily[16] - The website address for publishing the semi-annual report is www.sse.com.cn[16](index=16&type=chunk) V. Brief Introduction to Company's Shares This section provides information on the company's A-share listing exchange, stock abbreviation, stock code, and previous stock abbreviation - The company's A-shares are listed on the Shanghai Stock Exchange, with stock abbreviation C&D Inc. and stock code 600153[17] VII. Company's Key Accounting Data and Financial Indicators In H1 2025, the company's operating revenue slightly decreased by 1.16% to 315.32 billion yuan, while total profit and net profit attributable to shareholders significantly declined by 39.51% and 29.87% respectively, primarily due to fair value decrease of investment properties in home furnishing mall operations (Red Star Macalline) and inventory impairment provisions in real estate business; net cash flow from operating activities turned positive, and total assets grew by 15.80% Key Accounting Data for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Operating Revenue | 315.32 billion yuan | 319.01 billion yuan | -1.16 | | Total Profit | 1.62 billion yuan | 2.68 billion yuan | -39.51 | | Net Profit Attributable to Shareholders of Listed Company | 0.84 billion yuan | 1.20 billion yuan | -29.87 | | Net Cash Flow from Operating Activities | 17.87 billion yuan | -22.11 billion yuan | N/A | | Total Assets (End of Period) | 889.19 billion yuan | 767.87 billion yuan | 15.80 | | Net Assets Attributable to Shareholders of Listed Company (End of Period) | 71.33 billion yuan | 71.99 billion yuan | -0.92 | Net Profit Attributable to Shareholders by Business Segment for H1 2025 (million yuan) | Business Segment | Jan-Jun 2025 (million yuan) | Jan-Jun 2024 (million yuan) | Change in Amount (million yuan) | Change (%) | | :--- | :--- | :--- | :--- | :--- | | Supply Chain Operations Business Segment | 1,420 | 1,421 | -1 | -0.11 | | Real Estate Business Segment | 11 | 155 | -144 | -92.63 | | Home Furnishing Mall Operations Business Segment (Red Star Macalline) | -590 | -377 | -213 | N/A | | Total | 841 | 1,199 | -358 | -29.87 | - Net profit attributable to shareholders decreased by 0.36 billion yuan year-on-year, primarily due to a 0.21 billion yuan reduction from the home furnishing mall operations business segment and a 0.14 billion yuan reduction from the real estate business segment[22] - Red Star Macalline's investment property fair value decreased by over 2 billion yuan, coupled with asset impairment provisions and credit impairment provisions totaling over 0.1 billion yuan, resulting in a net profit attributable to shareholders of -2 billion yuan for Red Star Macalline[23] Key Financial Indicators for H1 2025 | Indicator | Current Period (Jan-Jun) | Prior Period | Change (%) | | :--- | :--- | :--- | :--- | | Basic Earnings Per Share (yuan/share) | 0.20 | 0.33 | -39.39 | | Basic Earnings Per Share Excluding Non-Recurring Gains and Losses (yuan/share) | 0.14 | 0.20 | -30.00 | | Weighted Average Return on Net Assets (%) | 1.04 | 1.67 | Decrease of 0.63 percentage points | | Weighted Average Return on Net Assets Excluding Non-Recurring Gains and Losses (%) | 0.74 | 1.05 | Decrease of 0.31 percentage points | IX. Non-Recurring Gains and Losses Items and Amounts In H1 2025, the company's total non-recurring gains and losses amounted to 0.17 billion yuan, with fair value changes in investment properties resulting in a -2.30 billion yuan loss, government grants totaling 0.58 billion yuan, fair value changes and disposal gains/losses of financial assets and liabilities at 0.31 billion yuan, and capital occupation fees from non-financial enterprises at 0.09 billion yuan Non-Recurring Gains and Losses Items for H1 2025 (yuan) | Non-Recurring Gains and Losses Item | Amount (yuan) | | :--- | :--- | | Gains or losses from disposal of non-current assets | 39,011,389.94 | | Government grants recognized in current profit or loss | 576,921,962.12 | | Gains or losses from changes in fair value of financial assets and liabilities, and disposal of financial assets and liabilities, excluding effective hedging activities related to normal business operations of non-financial enterprises | 305,581,757.64 | | Capital occupation fees received from non-financial enterprises recognized in current profit or loss | 89,664,444.97 | | Gains or losses from changes in fair value of investment properties measured using fair value model | -2,304,608,272.06 | | Total | 165,850,851.71 | - Fair value changes in investment properties resulted in a -2.30 billion yuan loss, representing the largest negative factor affecting non-recurring gains and losses[28] - Government grants and fair value changes/disposal gains or losses of financial assets/liabilities are the main positive contributions to non-recurring gains and losses[27] Item 3. Management Discussion and Analysis I. Explanation of Company's Industry and Main Business Operations During the Reporting Period This section details the industry environment, business models, development trends, and the company's specific operations for its three main businesses: supply chain operations, real estate, and home furnishing mall operations; supply chain benefits from national strategies and digital transformation, real estate stabilizes with policy support, and home furnishing seizes consumption upgrade