LJZ(SH:900932)2019-07-25 16:00Commercial Property Performance - In the first half of 2019, the company achieved a commercial property rental rate of 95% following the opening of the second La Fayette department store in China, contributing to a diversified commercial property model[4]. - The total leasable area of commercial properties exceeded 460,000 square meters, with a focus on high-quality operations and brand enhancement[4]. - The average rental price for prime office properties in Shanghai was 8.57 RMB/sqm/day, with a leasing rate of 89%[10]. - The average rental price for hotel properties was 584.77 RMB/room/night, with a leasing rate of 77%[10]. - The company’s mature properties had a total building area of 2,207,368 sqm, with an overall occupancy rate of 89%[10]. - The rental income from commercial properties in the first half of the year was 199 million yuan, a significant increase of 66% year-on-year[61]. - The average occupancy rate for mature Grade A office buildings in Shanghai was approximately 89%, while in Tianjin it was about 57%[60]. - The company plans to enhance its commercial real estate management and marketing efforts, focusing on new projects and improving occupancy rates[77]. Financial Performance - The company's operating revenue for the first half of 2019 reached RMB 8,188,534,924.19, representing a 23.86% increase compared to RMB 6,610,946,329.56 in the same period last year[37]. - Net profit attributable to shareholders for the reporting period was RMB 2,047,083,376.36, an increase of 11.34% from RMB 1,838,651,204.74 in the previous year[37]. - The basic earnings per share decreased by 7.22% to RMB 0.5074 from RMB 0.5469 in the same period last year[35]. - The net cash flow from operating activities showed a significant decline, with a net outflow of RMB 1,649,732,240.27 compared to a net inflow of RMB 1,000,442,000.66 in the previous year, marking a decrease of 264.90%[37]. - The total assets of the company increased by 7.68% to RMB 84,112,959,861.15 from RMB 78,112,647,173.08 at the end of the previous year[37]. - Real estate sales revenue surged by 59.00% to RMB 4,875,114,530.91, compared to RMB 1,998,852,809.83 in the same period last year[38]. - The revenue from the financial sector increased by 61.82% to RMB 1,019,209,179.77, up from RMB 389,103,465.29 in the previous year[38]. - The company's net assets attributable to shareholders rose by 2.44% to RMB 16,488,009,458.70 from RMB 16,094,931,705.64 at the end of the previous year[37]. - The weighted average return on equity slightly increased to 12.14% from 12.13% in the previous year[35]. - The revenue from property management grew by 4.89% to RMB 664,179,645.78, compared to RMB 631,717,803.06 in the same period last year[38]. - The company achieved a revenue of approximately 8.189 billion yuan in the first half of 2019, representing a 23.87% increase compared to the same period last year[46]. Investment and Development - The company is actively participating in the development of the Shanghai Lingang area and has initiated construction on the landmark building in the Qiantan International Business District[51]. - The company has ongoing projects with a total construction area of 956,300 square meters, including new and continuing projects[73]. - The company holds a total operational property area of 2.64 million square meters, significantly up from 150,000 square meters in 2005[49]. - The company plans to continue its focus on residential project sales and improve service quality in property management to attract potential customers[78]. - The company is exploring collaborative financial services and resource-sharing platforms to support project financing and enhance operational efficiency[81]. Financial Management and Strategy - The company aims to maximize shareholder profits through a strategy of long-term property holding and short-term asset sales[45]. - The company emphasizes risk control and business cultivation in its financial services sector, focusing on the health development of its licensed financial institutions[44]. - The company is committed to enhancing its financial service sector's competitiveness and profitability while managing risks effectively[79]. - The company has pledged assets worth approximately 9.2 billion RMB to secure loans, indicating a strategic approach to leverage its assets for financing[90]. - The company issued corporate bonds worth 3.5 billion RMB during the reporting period, contributing to a net increase in bank loans[86]. - The company received government subsidies totaling approximately 71.08 million yuan, which are closely related to its normal business operations[41]. Governance and Compliance - The company is committed to maintaining fair and reasonable terms in any necessary related party transactions[107]. - The company ensures financial independence by establishing independent financial accounting departments and management systems for itself and its wholly-owned and controlled subsidiaries[108]. - The company commits to maintaining independent operations and decision-making for its subsidiaries, avoiding interference from the parent company[108]. - The company has established a complete governance structure to ensure the independence of its operations and assets[108]. - The company will ensure that its senior management is exclusively dedicated to the listed company and will not hold positions in other subsidiaries[107]. Social Responsibility - The company has allocated a total of RMB 200,000 for poverty alleviation efforts over three years, with RMB 50,000 designated for each of the two targeted impoverished villages in Xinjiang[126]. - In the first half of the year, the subsidiary, Aijian Securities, actively engaged in poverty alleviation efforts in Ying Shan County, Hubei Province[126]. - The total investment in poverty alleviation projects amounted to RMB 525,456,000, with RMB 120,456,000 specifically allocated for industrial development poverty alleviation projects[127]. - The company supported 24 impoverished students with a total funding of RMB 5,000 for educational assistance[127]. - The company plans to continue targeted poverty alleviation efforts in the future[128].