Financial Performance - Revenue for the six months ended September 30, 2025, was RMB 68,818,000, a decrease of 34% compared to RMB 104,254,000 for the same period in 2024[3] - Profit before tax for the same period was RMB 18,967,000, down 56% from RMB 42,706,000 in 2024[3] - The company's net profit attributable to equity holders was RMB 10,042,000, a decline of 51% from RMB 20,575,000 in the previous year[3] - The basic and diluted earnings per share decreased to RMB 2.0, down 51% from RMB 4.1 in 2024[3] - The total comprehensive income for the period was RMB 10,414,000, down from RMB 20,642,000 in the previous year[10] - The company reported a gross profit of RMB 37,626,000, a decrease from RMB 63,641,000 in the same period last year[6] - The total tax expense for the six months ended September 30, 2025, was RMB 8,925,000, compared to RMB 22,131,000 for the same period in 2024[23] - The company issued a profit warning indicating that profit attributable to equity holders is expected to decline by approximately 50% compared to the previous year, primarily due to fluctuations in the real estate market and a decrease in the fair value of investment properties[33] Asset and Equity Position - Non-current assets as of September 30, 2025, totaled RMB 313,395,000, an increase from RMB 273,939,000 as of March 31, 2025[4] - Current assets amounted to RMB 1,073,718,000, slightly down from RMB 1,080,029,000 as of March 31, 2025[4] - Total equity as of September 30, 2025, was RMB 870,559,000, compared to RMB 860,145,000 as of March 31, 2025[5] - The company recorded a fair value loss of RMB 1,973,000 due to the transfer of certain shops from inventory to investment properties, reflecting a strategic adjustment in asset allocation[31] - As of September 30, 2025, the company's land reserves were approximately 226,292 square meters, down from 230,791 square meters as of March 31, 2025[31] - The net asset liability ratio was not applicable as of September 30, 2025, due to a net cash position[40] Project Developments - The company delivered 33 units from the Dongguan Jiahui Haoting Phase IV residential project, generating revenue of RMB 56,214,000, with an average selling price of approximately RMB 18,900 per square meter[31] - The company also delivered 5 units from the Dongguan Jiahui Haoting Phase V residential project, generating revenue of RMB 12,328,000, with an average selling price of approximately RMB 19,100 per square meter[31] - The group has initiated a night tour project at Longfeng Mountain Villa, expected to generate stable revenue upon full operation in 2025[36] - The group signed a contract with Shenzhen Guangying Century Technology Co., Ltd. to enhance the cultural tourism experience at Longfeng Mountain Villa[35] Strategic Initiatives - The group aims to diversify its asset allocation to improve overall financial performance amid reliance on mainland real estate development[34] - The group plans to optimize project design to meet regulatory requirements and address climate change impacts on real estate development[10] - The group is committed to prudent cash management policies to seize future growth opportunities[39] - The group has a strong cash position to support current operations and potential strategic investments[41] Corporate Governance - The group has established a performance-based bonus system to incentivize high-performing employees[47] - The company has adopted strict procedures to regulate directors' securities trading in compliance with the Listing Rules Appendix C3[51] - All directors have confirmed compliance with the standards set forth in the Standard Code during the relevant period[51] - The interim report for the period ending September 30, 2025, will be published on the Stock Exchange and the company's website as required by the Listing Regulations[52] - The executive directors of the company include Mr. He Wenzhong, Mr. He Weihang, Ms. Yao Yuefeng, and Mr. Zhu Nianhua[53] - The non-executive directors include Mr. He Zhuohui and Ms. He Manrao[53] - Independent non-executive directors consist of Mr. Cai Weixuan, Mr. Ren Zhongcheng, and Ms. Liang Wenli[53] Dividend Policy - The company did not recommend any interim dividend for the six months ended September 30, 2025, consistent with the previous year[29]
嘉创地产(02421) - 2026 - 中期业绩