Financial Performance - For the six months ended June 30, 2023, the company's revenue was RMB 36,334.59 million, with a gross profit of RMB 4,792.27 million and a total profit and comprehensive income of RMB 1,665.50 million[2]. - The core net profit for the period was RMB 1,750.41 million, with the company's attributable core net profit amounting to RMB 855.74 million[2]. - The basic and diluted earnings per share attributable to the company were RMB 0.58[2]. - The operating profit for the period was RMB 2,609.93 million, down from RMB 3,897.52 million in the same period of 2022[5]. - The total comprehensive income for the period attributable to the company was RMB 782.10 million, compared to RMB 1,538.08 million in the same period of 2022[6]. - The company's profit attributable to shareholders for the six months ended June 30, 2023, was approximately RMB 782,097,000, a decrease of 49% compared to RMB 1,538,081,000 for the same period in 2022[33]. - The basic earnings per share for the six months ended June 30, 2023, was RMB 0.58, down from RMB 1.25 in the same period of 2022, reflecting a decline of 53.6%[33]. - The group's profit for the reporting period was RMB 1,665.50 million, a decrease of 36.1% from RMB 2,608.37 million in the same period of 2022[60]. Assets and Liabilities - As of June 30, 2023, the asset-liability ratio after deducting advance receipts was 67.9%, with a net debt ratio of 39.8% and a cash-to-short-term debt ratio of 1.49 times[2]. - Total assets as of June 30, 2023, amounted to RMB 231,466,821 thousand, a decrease of 8.2% from RMB 251,938,754 thousand as of December 31, 2022[7]. - Non-current assets decreased from RMB 214,283,295 thousand to RMB 193,538,145 thousand, reflecting a decline of approximately 9.6%[7]. - The company's equity attributable to shareholders decreased from RMB 24,864,820 thousand to RMB 24,659,239 thousand, a reduction of about 0.8%[8]. - Total liabilities decreased from RMB 201,624,905 thousand to RMB 181,380,619 thousand, representing a decline of approximately 10%[9]. - The company's cash and cash equivalents decreased from RMB 21,810,599 thousand to RMB 18,436,816 thousand, a drop of about 15.5%[7]. - The company's bank and other borrowings decreased from RMB 26,541,041 thousand to RMB 24,957,897 thousand, a reduction of about 5.9%[9]. - The total liabilities as of June 30, 2023, were RMB 59,411,539 thousand, slightly up from RMB 58,359,483 thousand at the end of 2022[46]. Revenue and Sales - The group's contracted sales amount, including joint ventures and associates, was approximately RMB 40.56 billion[2]. - The total revenue for the property development and sales segment reached RMB 35,466,736,000 in 2023, up from RMB 30,971,210,000 in 2022, representing an increase of approximately 14.4%[19]. - Revenue from property management services increased to RMB 724,887,000 in 2023, compared to RMB 557,575,000 in 2022, marking a growth of about 30%[19]. - The total income for the group as of June 30, 2023, was RMB 36,334,586,000, an increase from RMB 31,662,904,000 in the same period of 2022, reflecting a growth of approximately 14.4%[20]. - Recognized revenue from contract liabilities related to property development and sales amounted to RMB 29,944,116 thousand for the six months ended June 30, 2023, compared to RMB 25,937,984 thousand for the same period in 2022, representing an increase of approximately 11.6%[25]. Costs and Expenses - Total costs of property development and sales for the six months ended June 30, 2023, were RMB 33,480,135 thousand, compared to RMB 27,920,638 thousand in 2022, reflecting an increase of approximately 20%[26]. - The company reported a significant increase in construction costs, which amounted to RMB 29,105,275 thousand for the six months ended June 30, 2023, compared to RMB 24,989,490 thousand in 2022, an increase of approximately 16.5%[26]. - Selling and marketing expenses increased by 20.3% to RMB 1,170.62 million, up from RMB 973.13 million in the same period of 2022[68]. - Financial costs for the six months ended June 30, 2023, were RMB 1,085,149 thousand, a decrease from RMB 1,366,762 thousand in 2022, showing a reduction of approximately 20.6%[30]. Dividends and Shareholder Returns - The board of directors has resolved not to declare an interim dividend for the six months ended June 30, 2023[4]. - The proposed final dividend for the year ended December 31, 2022, is HKD 0.80 per share, down from HKD 1.60 per share in 2021, reflecting a 50% reduction[45]. - The company did not declare an interim dividend for the six months ended June 30, 2023, compared to zero for the same period in 2022[35]. Market and Strategic Focus - The group’s revenue is predominantly derived from the Chinese market, accounting for over 95% of total income and non-current assets[20]. - The company plans to continue its market expansion and product development strategies, although specific figures or timelines were not disclosed in the provided content[41]. - The company is strategically focusing on high-quality urban development, enhancing its asset structure to mitigate cyclical risks[53]. - The real estate market is shifting from quantity-driven growth to quality-driven development, with a strong consumer demand for higher living standards[49]. - The company aims to enhance living experiences and fulfill social responsibilities, aligning with the trend of returning to the essence of housing[59]. Governance and Compliance - The company has adhered to all provisions of the Corporate Governance Code as of June 30, 2023[88]. - The Chairman and CEO roles are currently held by the same individual, which deviates from the Corporate Governance Code, but the board believes this structure benefits long-term strategic goals[89]. - The Audit Committee has reviewed the unaudited interim results for the six months ended June 30, 2023, including accounting principles and practices[91]. - The company engages external consultants annually to conduct a top ten risk assessment to identify and mitigate potential operational risks[90].
美的置业(03990) - 2023 - 中期业绩