Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 36,334.6 million, an increase of 14.8% from RMB 31,662.9 million in 2022[14]. - Core net profit for the same period was RMB 1,750.4 million, a decrease of 36.0% compared to RMB 2,735.5 million in 2022[14]. - The net profit attributable to the company's owners was RMB 782.1 million, down 49.2% from RMB 1,538.1 million in the previous year[14]. - Operating profit decreased by 33.0% to RMB 2,609.93 million, down from RMB 3,897.52 million in the previous year[26]. - Profit for the period was RMB 1,665.50 million, a decline of 36.1% from RMB 2,608.37 million year-on-year[26]. - Basic and diluted earnings per share were RMB 0.58, down from RMB 1.25 in the same period of 2022, reflecting a decrease of 53.6%[26]. - The company reported a net loss of RMB 110.81 million in other income and gains, compared to a net gain of RMB 252.34 million in the same period of 2022[62]. - The company reported a profit of RMB 782,097 thousand for the six months ended June 30, 2023[174]. Assets and Liabilities - Total assets as of June 30, 2023, were RMB 231,466.8 million, a decrease from RMB 251,938.8 million at the end of 2022[15]. - The company's total liabilities as of June 30, 2023, amounted to RMB 105,982,131, compared to RMB 109,362,426 as of December 31, 2022, reflecting a decrease of about 3.5%[134]. - The total equity attributable to owners of the company decreased from RMB 24,864,820 thousand to RMB 24,659,239 thousand, a decline of about 1%[110]. - The company's cash and cash equivalents decreased from RMB 21,810,599 thousand to RMB 18,436,816 thousand, a decline of around 15%[110]. - The group provided guarantees for mortgage loans amounting to RMB 71,971.17 million as of June 30, 2023, down from RMB 84,719.42 million as of December 31, 2022[70]. Cash Flow and Financing - The net cash flow from operating activities for the first half of 2023 was RMB 1,440,420 thousand, a significant improvement compared to a net cash outflow of RMB 1,750,418 thousand in the same period of 2022[115]. - The company incurred a net cash outflow of RMB 5,732,973 thousand from financing activities, compared to RMB 7,574,523 thousand in the same period of 2022[115]. - The total borrowing cost for the reporting period was RMB 1,085.15 million, a decrease of RMB 281.61 million compared to RMB 1,366.76 million in the same period of 2022[69]. - The group has multiple contingency plans to mitigate potential adverse impacts on forecasted cash flows due to significant economic changes[125]. Property Development and Sales - During the reporting period, the company achieved a contract sales amount of approximately RMB 40.56 billion, with a sold building area of about 3.206 million square meters, and an average sales price increase of 3.4% to RMB 12,653 per square meter[20]. - The total revenue for property development and sales reached RMB 35,466,736, an increase from RMB 30,971,210 in the previous year, representing a growth of approximately 14.4%[133]. - Revenue recognized from property development and sales for the six months ended June 30, 2023, was RMB 29,944,116,000, an increase of 15.4% compared to RMB 25,937,984,000 for the same period in 2022[138]. - The total contract assets related to property development and sales decreased to RMB 894,750 from RMB 1,148,069, a decline of approximately 22.1%[135]. Strategic Initiatives and Market Position - The company aims to lead industry development through innovation and transformation, focusing on smart and healthy living solutions[3]. - The company plans to continue optimizing its investment layout, focusing on high-quality cities to enhance its risk resilience[24]. - The company aims to strengthen its brand premium capabilities while emphasizing diversified real estate-related businesses to cultivate core competitive advantages[24]. - The company plans to continue expanding its market presence and product offerings in response to current market pressures[27]. Shareholder and Governance Information - The company has complied with the Corporate Governance Code as of June 30, 2023, except for the deviation mentioned regarding the roles of the Chairman and CEO[79]. - The board consists of four executive directors, two non-executive directors, and three independent non-executive directors, meeting the requirement of having at least three independent non-executive directors[81]. - The company has not purchased, sold, or redeemed any of its listed securities during the six months ended June 30, 2023[87]. - The company granted a total of 66,660,000 share options to 193 eligible participants on April 22, 2021, with a fair value of approximately RMB 170.47 million[90]. Operational Performance - The company delivered over 40,000 homes nationwide, with 64% of batches delivered ahead of schedule, achieving a customer satisfaction rate in the industry’s top tier[22]. - The property management business has a contracted area of 91.14 million square meters and a managed area of 58.6 million square meters, demonstrating strong cash flow operations[23]. - The company has completed 92 delivery projects, cumulatively delivering 39,000 households, maintaining a leading market share in the industry[23]. - The property management service revenue increased by 30.0% to RMB 724.89 million, compared to RMB 557.58 million in the previous year[58].
美的置业(03990) - 2023 - 中期财报