Company Operations - As of June 30, 2022, the company operated 91 retail commercial properties with a total gross floor area of approximately 10.2 million square meters[9]. - The company has signed contracts for 140 retail commercial properties, totaling approximately 14.7 million square meters of gross floor area[9]. - The residential property management services have delivered 87 projects with a total gross floor area of approximately 18.3 million square meters as of June 30, 2022[9]. - There are 139 signed residential property management projects, with a total signed gross floor area of approximately 30.6 million square meters[9]. - The number of operational projects increased to 91, up by 20 projects from 71 in the same period last year[16]. - The total area of newly contracted projects as of the report date is approximately 584,906 square meters, including both group-owned and third-party projects[24]. - The total operating area of the group as of June 30, 2022, was approximately 10.2 million square meters, an increase of about 1.4 million square meters from the previous year[16]. - The average occupancy rate for the group's retail commercial properties was 93.4% as of June 30, 2022, compared to 92.3% on the same date in 2021[27]. Financial Performance - For the six months ended June 30, 2022, the group's revenue was approximately RMB 1,266.4 million, an increase of about RMB 95.8 million compared to RMB 1,170.6 million for the same period in 2021, representing an increase of approximately 8.2%[39]. - Revenue from commercial operation and management services was approximately RMB 854.4 million, an increase of about 21.4% year-on-year, accounting for approximately 67.5% of total revenue[42]. - Revenue from residential property management services increased by approximately 5.9% year-on-year to RMB 241.8 million, representing about 19.1% of total revenue[44]. - The total revenue from the commercial operation services segment for the first half of 2022 was RMB 1,024,538 thousand, compared to RMB 942,253 thousand in the same period of 2021[17]. - The group's gross profit was approximately RMB 430.4 million, an increase of about 12.3% year-on-year, with a gross margin of 34.0%, up 1.2 percentage points from 32.8% for the same period in 2021[50]. - The gross profit for commercial operation services was RMB 367,983 thousand with a gross margin of 35.9%, compared to RMB 327,029 thousand and a gross margin of 34.7% in the previous year[15]. - The residential property management segment achieved total revenue of approximately RMB 241.8 million for the six months ended June 30, 2022, an increase of about 5.9% compared to RMB 228.3 million for the same period in 2021[29]. - The company reported a profit attributable to the owners of the company of approximately RMB 240.3 million, an increase of about 18.2% compared to approximately RMB 203.3 million for the same period in 2021[56]. Strategic Goals and Initiatives - The company aims to become a respected century-old enterprise and a global leader in urban space operations, continuously creating broader value for customers and investors[6]. - The company plans to open 9 new projects in the second half of 2022, including the key project Xiamen Tong'an Baolong Plaza[35]. - The company will continue to enhance its digital ecosystem to improve operational efficiency and reduce costs, focusing on a "1+1+N" strategic layout centered on the Yangtze River Delta[36]. - The company plans to strengthen its commercial light asset project expansion and explore more flexible cooperation models[35]. - The company aims to maintain an overall occupancy rate target of 96% for the year despite a slight decline in the first half of 2022 due to the pandemic[34]. Shareholder Information - As of June 30, 2022, the total issued shares of the company were 642,900,000, with significant shareholdings by directors and related parties[67]. - Major shareholder Mr. Xu Jiankang controls 405,000,000 shares, accounting for 63.00% of the total issued shares[76]. - Mr. Xu Huafang holds a total of 46,500,000 shares, representing approximately 7.23% of the total issued shares[67]. - The company proposed an interim dividend of HKD 0.15 per share, totaling HKD 94.7 million for the six months ending June 30, 2022[80]. - The share transfer registration will be suspended from November 29, 2022, to December 2, 2022, to determine the eligibility of shareholders for the interim dividend[81]. Cash Flow and Capital Expenditure - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (135,155) thousand, a significant decrease from RMB 443,588 thousand in the same period of 2021[111]. - The company recorded a net cash inflow from investing activities of RMB 913,795 thousand for the six months ended June 30, 2022, compared to a net cash outflow of RMB (5,649) thousand in the same period of 2021[111]. - The capital expenditure for the six months ended June 30, 2022, was RMB 190,967,000, significantly higher than RMB 54,226,000 for the same period in 2021, indicating an increase of approximately 251.78%[136]. Awards and Recognition - The company has received various awards, including "Most Socially Responsible Listed Company" from 智通财经 in March 2022[9]. - The company emphasizes its mission of "Let Space Be Filled with Love" and adheres to corporate values of simplicity, authenticity, and win-win cooperation[6]. Risk Management and Compliance - The group has maintained its risk management policies since December 31, 2021, focusing on minimizing financial performance risks[124]. - The group continues to evaluate the impact of new and revised accounting standards on its financial statements[122].
宝龙商业(09909) - 2022 - 中期财报