Financial Performance - Total revenue for the six months ended June 30, 2022, was RMB 539,321,000, a decrease of 72.0% compared to RMB 1,927,062,000 in the same period of 2021[13]. - Gross profit for the period was RMB 199,893,000, down 63.4% from RMB 545,395,000 in the previous year[13]. - Profit for the period was RMB 107,242,000, representing a decline of 57.5% compared to RMB 252,084,000 in 2021[13]. - Earnings per share for the period were 2.36 RMB cents, down from 4.11 RMB cents in the same period last year[17]. - Total comprehensive income for the period was RMB 113,937,000, a decrease of 56.2% from RMB 260,031,000 in 2021[17]. - The company reported a profit before tax of RMB 128,178,000 for the six months ended June 30, 2022[129]. - The profit before tax for the six months ended June 30, 2022, was RMB 49,436, a decrease from RMB 84,427 for the same period in 2021, reflecting a decline of approximately 41.4%[165]. - The company reported a profit for the period of RMB 208,880, compared to RMB 216,827 in the previous period, reflecting a decrease of about 3.9%[99]. - The company’s total comprehensive income for the period was RMB 260,081, down from RMB 268,204, indicating a decrease of approximately 3%[99]. Revenue Breakdown - For the six months ended June 30, 2022, total revenue from goods and services was RMB 539,321,000, with property development contributing RMB 461,548,000 and property investment contributing RMB 77,773,000[118]. - The revenue from contracts with customers for the six months ended June 30, 2022, was RMB 469,340,000, which includes rental income of RMB 69,981,000[121]. - For the six months ended June 30, 2021, total revenue was RMB 1,927,062,000, with property development contributing RMB 1,857,001,000 and property investment contributing RMB 70,061,000[124]. - The external sales for property development were RMB 461,548,000, and for property investment, they were RMB 77,773,000, resulting in a total external sales figure of RMB 539,321,000[129]. Expenses and Costs - The company incurred selling and marketing expenses of RMB 93,697,000, which is a significant increase compared to RMB 41,514,000 in the previous year[13]. - The total finance costs for the period were RMB 39,740,000[129]. - The cost of inventories recognized as an expense for the six months ended June 30, 2022, was RMB 321,708, significantly lower than RMB 1,380,183 in 2021, showing a decrease of approximately 76.7%[165]. - Interest paid for the period was RMB (316,277,000), compared to RMB (354,617,000) in the same period of 2021, showing a decrease of 10.8%[109]. Assets and Liabilities - As of June 30, 2022, total current assets increased to RMB 19,484,750, up from RMB 19,305,479 as of December 31, 2021, reflecting a growth of approximately 0.93%[19]. - Net current assets decreased to RMB 3,149,868 from RMB 3,564,876, indicating a decline of about 11.6%[22]. - Total equity attributable to owners of the Company rose to RMB 4,962,574, compared to RMB 4,836,052 at the end of 2021, marking an increase of approximately 2.6%[22]. - Total assets less current liabilities decreased to RMB 13,880,724 from RMB 14,248,095, a reduction of about 2.58%[22]. - Non-current liabilities, including bank and other borrowings, amounted to RMB 8,661,126, down from RMB 9,142,434, representing a decrease of approximately 5.25%[22]. - The consolidated liabilities as of June 30, 2022, were RMB 24,996,008, compared to RMB 24,883,037 as of December 31, 2021, indicating an increase of about 0.45%[152]. Cash Flow - For the six months ended June 30, 2022, the net cash from operating activities was RMB 545,751,000, a significant increase from RMB 150,319,000 in the same period of 2021[107]. - The company reported a net cash inflow from investing activities of RMB 313,010,000, a recovery from a net cash outflow of RMB 910,107,000 in the prior year[107]. - For the six months ended June 30, 2022, net cash used in financing activities was RMB (1,013,293,000), compared to RMB 297,942,000 in the same period of 2021, indicating a significant decrease in cash flow from financing[109]. - Cash and cash equivalents decreased to RMB 444,577 from RMB 592,854, a decline of about 25%[19]. - The company reported a net decrease in cash and cash equivalents of RMB (154,532,000) for the period, compared to a decrease of RMB (461,846,000) in the same period of 2021[109]. Investment Properties - The fair value of investment properties at 30 June 2022 was RMB 10,617,760,000, an increase from RMB 10,564,740,000 at the end of 2021[186]. - The Group's investment properties are primarily held to earn rentals, reflecting a strategic focus on rental income generation[188]. - The valuation for investment properties under construction was based on the market approach, considering comparable sales evidence and expended construction costs[190]. - The highest and best use of the properties is their current use, as estimated in the fair value assessment[191]. Taxation - The current tax expense for the period included RMB 375,000 for Enterprise Income Tax and RMB 6,641,000 for Land Appreciation Tax, compared to RMB 70,481,000 and RMB 24,968,000 respectively in 2021[167]. - The total provision for tax expenses for the six months ended 30 June 2022 was RMB 20,936,000, a decrease from RMB 107,411,000 in the same period of 2021[167]. - The tax rate for the PRC subsidiaries remained at 25% for the period, consistent with the previous year[167]. Strategic Plans - The company plans to focus on expanding its market presence and enhancing its product offerings in the upcoming quarters[13]. - The company plans to continue its market expansion and product development strategies in the upcoming periods[106]. Compliance and Reporting - The unaudited condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, ensuring compliance with applicable disclosure requirements[111]. - The application of amendments to HKFRSs in the current interim period has had no material impact on the Group's financial positions and performance[116]. - The company did not report any significant impact from the application of revised Hong Kong Financial Reporting Standards on its financial position and performance during the interim period[117].
中国三迪(00910) - 2022 - 中期财报