Financial Performance - For the first half of 2022, the company's revenue was HKD 22.258 billion, an increase of 58.2% compared to HKD 14.074 billion in the same period last year[7] - Shareholders' profit for the same period was HKD 1.510 billion, a decrease of 9.2% from HKD 1.663 billion in the previous year[7] - The company's basic earnings per share for the first half of 2022 were HKD 0.4067, down from HKD 0.4542 in the same period last year[7] - The net profit for the same period was HKD 1,464,157,000, down from HKD 1,758,608,000 in the previous year[37] - The total comprehensive income for the period was a loss of HKD 357,279,000, compared to a gain of HKD 2,194,193,000 in the previous year[37] - The company's profit attributable to owners for the six months ended June 30, 2022, was HKD 1,510,223,000, a decrease of 9.2% compared to HKD 1,663,180,000 for the same period in 2021[58] Revenue Sources - The property management segment generated revenue of RMB 507 million, representing a 9.0% increase year-on-year, managing 281 projects with a total area of approximately 48 million square meters[28] - Property development segment generated revenue of HKD 21,227,120, while property investment and management contributed HKD 960,937[49] Assets and Liabilities - The company's total assets increased from HKD 110,138,209 thousand in December 2021 to HKD 121,175,723 thousand in June 2022, an increase of approximately 10%[39] - Total liabilities decreased from HKD 125,553,127 thousand in December 2021 to HKD 112,295,386 thousand in June 2022, a decrease of approximately 10.6%[39] - The company's debt-to-asset ratio was 79.3% as of June 30, 2022, compared to 80.3% in the previous year[29] - The group's total outstanding bank and other borrowings amounted to HKD 93,844,606,000, with 25% due within one year[30] Cash Flow and Investments - Operating cash flow for the six months ended June 30, 2022, was a net outflow of HKD 10,664,726, compared to a net outflow of HKD 8,201,398 for the same period in 2021, representing an increase of 30.1%[18] - The company reported a significant increase in cash flow from financing activities, with a net inflow of HKD 15,816,037 compared to a net outflow of HKD 1,323,914 in the previous year[18] - The net cash used in investing activities was HKD 619,436, a significant improvement from a net outflow of HKD 615,461 in the prior year[18] Land and Project Development - The company achieved contract sales amounting to RMB 16.5 billion, with a collection amount of RMB 16.2 billion, resulting in a collection rate of 98%, up 14 percentage points year-on-year[8] - The company acquired six new projects located in Ningbo, Jinan, and Shanghai, marking its first entry into the Changshu market, increasing its land reserve in high-tier cities[9] - The company plans to launch at least 10 new properties in the second half of 2022, including projects in Guangzhou, Foshan, Jinan, Suzhou, and Shenzhen[13] - The company’s land reserves in the Yangtze River Delta and Greater Bay Area increased to 42%, up 2 percentage points from the end of last year[9] Shareholder Information - The company's equity attributable to shareholders as of June 30, 2022, was HKD 37.975 billion, a decrease of 1.1% from HKD 38.416 billion at the end of 2021[7] - The weighted average number of ordinary shares for calculating basic and diluted earnings per share increased to 3,713,368,382 for the six months ended June 30, 2022, compared to 3,661,537,046 in 2021[58] - The company did not declare an interim dividend for the six months ended June 30, 2022, consistent with the same period in 2021[57] Financing and Borrowings - New borrowings amounted to HKD 20,654,748, an increase of 9.8% compared to HKD 18,802,581 in the previous year[18] - The group issued notes totaling USD 500,000,000 (equivalent to HKD 3,900,000,000) at an interest rate of 4% due in 2025, unchanged from the previous year[67] - The company has a financing agreement for HKD 1,900,000,000 with a maturity date of 48 months from the agreement date[99] Corporate Governance - The company has taken sufficient measures to ensure its corporate governance practices are not inferior to those outlined in the corporate governance code[105] - The audit committee has reviewed the accounting principles and practices adopted by the group, approving the unaudited interim financial statements for the six months ended June 30, 2022[107]
保利置业集团(00119) - 2022 - 中期财报