SMC(SH:600823)2021-08-19 16:00Financial Performance - The company's operating revenue for the first half of 2021 reached CNY 11,901,053,216.66, representing a 29.98% increase compared to CNY 9,156,367,161.00 in the same period last year[17]. - The net profit attributable to shareholders of the listed company was CNY 1,143,304,612.76, up 10.03% from CNY 1,039,082,737.57 year-on-year[17]. - The net profit after deducting non-recurring gains and losses was CNY 1,115,573,418.26, reflecting an increase of 11.74% compared to CNY 998,378,270.83 in the previous year[17]. - The basic earnings per share for the first half of 2021 was CNY 0.30, a 7.14% increase from CNY 0.28 in the same period last year[18]. - The weighted average return on net assets was 4.29%, up from 4.01% in the previous year, indicating improved profitability[18]. - The net cash flow from operating activities was CNY 2,479,887,822.78, a 5.09% increase compared to CNY 2,359,778,321.34 in the same period last year[17]. - The total assets of the company at the end of the reporting period were CNY 154,757,704,722.93, representing a 3.65% increase from CNY 149,304,753,976.58 at the end of the previous year[20]. - The net assets attributable to shareholders of the listed company increased to CNY 27,354,420,026.84, a growth of 4.85% from CNY 26,088,435,706.10 at the end of the previous year[20]. - The company reported a comprehensive gross profit of 4.590 billion yuan, up 33% year-on-year, with a gross profit margin of 38.6%, an increase of 0.84 percentage points compared to the same period last year[34]. - The company achieved a total revenue of 11.901 billion yuan in the first half of 2021, representing a year-on-year growth of 30%[33]. Real Estate Sales and Development - In the first half of 2021, the company's real estate sales area reached 88.635 million square meters, a year-on-year increase of 27.7%[23]. - The total sales revenue for the first half of 2021 was 929.31 billion yuan, representing a year-on-year growth of 38.9%[23]. - Real estate sales revenue reached 11.003 billion yuan, with a year-on-year increase of 28.25%, while rental income grew by 29% to 653 million yuan[33]. - The company achieved a sales contract value of 16.6 billion yuan, a significant increase of 77% year-on-year, completing 44% of the annual sales target[34]. - The average sales price maintained a high level at approximately 21,300 yuan per square meter, with sales collection reaching a historical high of 16.5 billion yuan[34]. - The company has a total land reserve of approximately 18.92 million square meters, with 75% located in second-tier cities and above, supporting future development needs for 2-3 years[29]. - The company plans to supply 23.6 billion yuan worth of real estate in the second half of the year, with 90% of the available inventory located in second-tier cities and above[47]. Market and Operational Strategy - The company aims to enhance operational efficiency and brand influence while optimizing organizational management to create greater value for stakeholders[27]. - The company emphasizes a dual-driven operational model combining real estate development and commercial management to ensure stable growth[28]. - The company is committed to sustainable development and risk management in response to changing market conditions and regulatory policies[28]. - The commercial market showed signs of recovery, with 148 new shopping centers opened in the first half of 2021, a year-on-year increase of approximately 300%[25]. - The net absorption of Grade A office buildings in Shanghai increased by 10.2% quarter-on-quarter in Q2 2021, indicating a recovery in the office market[25]. - The company is focusing on risk prevention, improving development quality, and achieving sustainable growth as part of its strategic goals[45]. - The company is exploring collaborations with international IPs, such as the Smurfs, to expand its market presence[40]. Financial Management and Liabilities - The company’s cash to short-term debt ratio stands at 2.10, indicating strong short-term debt repayment capability[31]. - The company reported a total of 36,261.07 million RMB in funds provided to related parties, an increase of 1.76% from the beginning balance of 35,635.69 million RMB[102]. - The company has a total of 173 leased properties, with a majority (100%) using fair value measurement[67]. - The company’s total liabilities reported were RMB 3.17 trillion, indicating a substantial financial obligation[103]. - The company has provided a joint liability guarantee of RMB 40 million for a loan from its wholly-owned subsidiary Shanghai Xingxi Investment Consulting Co., Ltd. to the Industrial and Commercial Bank of China, with a remaining balance of RMB 15 million[108]. Corporate Governance and Compliance - The company has experienced changes in its board of directors, with several independent directors and board members resigning and new members being elected[86]. - The company has not proposed any profit distribution or capital reserve increase plans for the first half of 2021[87]. - The company has committed to ensuring that its controlling shareholder will not exceed 50% representation on the board of directors post-asset acquisition[94]. - The company reported no significant litigation or arbitration matters during the reporting period[96]. - The company has adhered to the debt repayment plan and other repayment guarantees as stipulated in the bond prospectus, with no changes reported during the reporting period[121]. Sustainability and Environmental Initiatives - The company is committed to environmental protection and sustainable development, engaging in community activities to promote environmental awareness[90]. - The company is actively pursuing green development initiatives, including participation in the WELL health building standard certification and promoting sustainable practices among tenants and employees[90]. - The company is implementing various green technologies in project construction, such as efficient cooling systems and reusable building materials, to align with national carbon neutrality goals[91].