Financial Performance - Revenue from property sales for the six months ended June 30, 2022, was RMB 208,887,000, a significant increase from RMB 23,223,000 in the same period last year, representing a growth of 798%[5] - The gross profit for the same period was RMB 59,087,000, compared to RMB 1,398,000 in the previous year, indicating a substantial increase[5] - The total comprehensive income for the period was RMB 30,482,000, compared to a loss of RMB 13,707,000 in the previous year, marking a turnaround[5] - Basic earnings per share for the period was RMB 0.53, a significant improvement from a loss of RMB 0.07 per share in the same period last year[5] - The company reported a profit of RMB 30,951,000 for the six months ended June 30, 2022, compared to a loss of RMB 4,223,000 in the same period of 2021, indicating a significant turnaround in performance[41] Assets and Liabilities - Total assets as of June 30, 2022, were RMB 1,229,071,000, compared to RMB 1,331,222,000 as of December 31, 2021[7] - The net asset value increased to RMB 815,295,000 from RMB 784,910,000 as of December 31, 2021, reflecting a growth of 3.9%[8] - Current liabilities decreased to RMB 118,670,000 from RMB 148,323,000, indicating improved liquidity[7] - The total equity attributable to owners of the company increased to RMB 803,037,000 from RMB 772,086,000 as of December 31, 2021[8] - Total assets as of June 30, 2022, amounted to RMB 1,330,030,000, with total liabilities of RMB 517,735,000 and total equity of RMB 815,295,000[96] Cash Flow - The company reported a net cash position of RMB 251,513,000 as of June 30, 2022, compared to RMB 138,394,000 in the previous year[7] - The net cash used in operating activities for the six months ended June 30, 2022, was RMB 144,121,000, compared to RMB 25,062,000 for the same period in 2021[20] - The company had a net cash decrease of RMB 113,119,000 in cash and cash equivalents for the six months ended June 30, 2022[20] - The total cash and cash equivalents at the end of the period were RMB 138,394,000, down from RMB 157,622,000 at the end of the previous period[20] - The company’s financing activities generated a net cash inflow of RMB 25,095,000 for the six months ended June 30, 2022, compared to RMB 11,195,000 in the same period of 2021[20] Income and Expenses - The company reported a total income of RMB 1,398,000 from other income sources for the six months ended June 30, 2022, down from RMB 2,030,000 in the same period of 2021[33] - The income tax expense for the six months ended June 30, 2022, was RMB 13,707,000, compared to RMB 1,225,000 for the same period in 2021, indicating a substantial increase in tax obligations[34] - Sales expenses increased by 28.9% to RMB 4,198,000, mainly due to additional sales commissions related to the delivery of properties from the Tianxi Bay project[94] - Employee costs, including director remuneration, rose to RMB 4,835,000 for the six months ended June 30, 2022, compared to RMB 3,461,000 in the previous year, reflecting increased staffing or compensation[39] Investment Properties - Non-current assets included investment properties valued at RMB 97,330,000 as of June 30, 2022[7] - The fair value of investment properties decreased to RMB 97,330,000 as of June 30, 2022, down from RMB 105,071,000 at the end of 2021, indicating a decline in property valuations[45] - The total value of investment properties as of June 30, 2022, is RMB 1,009,200,000, an increase from RMB 951,827,000 as of December 31, 2021[57] - The expected return rate for investment properties is 4.3% as of June 30, 2022, consistent with the rate from December 31, 2021[54] - The average market rent per square meter is RMB 73 as of June 30, 2022, unchanged from December 31, 2021[54] Development and Commitments - The value of properties under development is RMB 249,247,000 as of June 30, 2022, up from RMB 128,389,000 as of December 31, 2021[58] - The company has unrecognized development property commitments totaling RMB 266,010,000 as of June 30, 2022, down from RMB 338,595,000 as of June 30, 2021[76] - Financial guarantees provided for mortgage financing to property buyers stood at RMB 409,666,000 as of June 30, 2022, compared to RMB 465,776,000 as of December 31, 2021[78] Shareholder Information - The company’s issued share capital as of June 30, 2022, was RMB 435,951,000, with 100,000,000 shares issued[75] - The company’s major shareholders include Fame Build Holdings Limited with 1,517,896,394 shares, representing approximately 26.00% of the issued share capital, and Talent Connect Investments Limited with 1,780,596,394 shares, representing approximately 30.50%[103][109] Compliance and Governance - The audit committee, composed entirely of independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six-month period ending June 30, 2022[114] - As of June 30, 2022, the company has adopted the standard code for directors' securities trading as per the listing rules, confirming compliance by all directors for the six-month period[102]
建德国际控股(00865) - 2022 - 中期财报