Financial Performance - Seazen Group reported a significant increase in revenue, achieving a total of RMB 10.5 billion for the first half of 2022, representing a year-on-year growth of 25%[3]. - The company has set a performance guidance of RMB 20 billion in revenue for the full year 2022, reflecting a 20% increase compared to 2021[3]. - The company reported a net profit margin of 12% for the first half of 2022, showcasing improved profitability[3]. - Revenue for the same period was approximately RMB 43,352 million, with a gross profit of approximately RMB 8,655 million[59]. - Net profit for the period was approximately RMB 2,961 million, with net profit attributable to equity holders of the Company at approximately RMB 1,789 million[59]. - Core earnings were approximately RMB 2,795 million, with core earnings attributable to equity holders of the Company at approximately RMB 1,746 million[59]. - The Group's total gross floor area available for sale, lease, or use was approximately 66,387,885 square meters[57]. - The total gross floor area attributable to the Group was approximately 32,828,165 square meters[57]. Project Development - The company completed 50,886 square meters of residential projects in Suzhou, contributing to its overall sales performance[10]. - Seazen Group has 1.2 million square meters of residential projects under construction, indicating strong future growth potential[10]. - The company is actively pursuing strategic acquisitions to bolster its portfolio, with a focus on high-growth regions[3]. - The company is expanding its residential offerings in Jiaxing, with ongoing projects such as Jiaxing Jiashan Seazen Feicui Fenghua City (176,823 sq.m. under development) and Jiaxing Pinghu Seazen Yuechenli (201,423 sq.m. under development)[14]. - The company has several ongoing residential projects, including Nanjing Jiangning Seazen Mingzhu Fenghua with a GFA under development of 124,403 sq.m.[21]. - The company is focusing on expanding its residential offerings in various cities, including Jiujiang with a GFA of 106,632 sq.m under development[23]. - The company has ongoing residential projects in Zibo with a total area under development of 113,878 sq.m. and 103,899 sq.m. planned[30]. Market Expansion - The company plans to expand its market presence by entering new cities, targeting a 15% increase in market share by the end of 2023[3]. - The company is strategically expanding its footprint in key urban areas, focusing on residential developments to meet growing market demand[14]. - The company is actively pursuing new developments across various cities, indicating a robust growth strategy in the real estate sector[20]. - The company is focusing on market expansion through new residential developments in key cities, enhancing its portfolio and market presence[35]. Financial Position - Seazen Group's total assets reached RMB 150 billion, indicating a solid financial position to support future growth initiatives[3]. - The total land bank of the Group was approximately 131 million sq.m. as of June 30, 2022, with a historical average acquisition cost of approximately RMB2,709 per sq.m.[64]. - The Group's net debt-to-equity ratio as of 30 June 2022 was 47.0%, down from 48.6% as of 31 December 2021[95]. - As of June 30, 2022, the Group had cash at bank and on hand of approximately RMB45,607.4 million, down from approximately RMB55,653.3 million as of 31 December 2021[93]. Sustainability and Innovation - Seazen Group is committed to sustainable development, with plans to implement green building practices across all new projects[3]. - The company is investing in new technology for property management, aiming to enhance operational efficiency and customer satisfaction[3]. Corporate Governance - The Company has adhered to the corporate governance code and will continue to enhance its governance practices[125]. - The Group has complied with the Corporate Governance Code for the six months ended June 30, 2022[128]. - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2022[122]. Employee Incentives - The Share Award Scheme aims to provide incentives for employees to make substantial contributions to the Group's long-term growth[162]. - The total number of shares held under equity derivatives by associated corporations was not disclosed in the report[143]. - The Company aims to align the interests of employees and officers with those of shareholders through the Pre-IPO Share Award Scheme[155].
新城发展(01030) - 2022 - 中期财报