中国海外发展(00688) - 2023 - 中期业绩

Financial Performance - The group's total revenue for the period was RMB 89.16 billion[4]. - The profit attributable to shareholders was RMB 13.49 billion, with a core profit of RMB 13.82 billion, and basic earnings per share of RMB 1.23[4]. - The group's operating profit for the period was RMB 19.07 billion, down from RMB 24.13 billion in the same period last year[5]. - The total comprehensive income for the period was RMB 14.13 billion, compared to RMB 16.94 billion in the previous year[6]. - The company's profit before tax for the six months ended June 30, 2023, was RMB 19,815,172, a decrease of 21.3% compared to RMB 25,161,842 for the same period in 2022[17]. - The income tax expense for the period was RMB 5,603,764, down 26.1% from RMB 7,568,069 in the same period last year[20]. - Basic earnings per share attributable to shareholders for the six months ended June 30, 2023, was RMB 1.23, compared to RMB 1.53 for the same period in 2022[22]. - The gross profit margin was 22.6%, and the net profit margin attributable to shareholders was 15.1%[31]. Property Sales and Development - The group's property sales amount increased by 30.1% to RMB 180.18 billion, with a sold floor area of 8.04 million square meters, up 28.3% year-on-year[3]. - For the six months ended June 30, 2023, the total revenue from property development was RMB 72,441,180, while revenue from property investment was RMB 2,431,157, resulting in a total segment revenue of RMB 89,159,725[14]. - The segment profit from property development was RMB 17,171,745 for the six months ended June 30, 2023, compared to RMB 23,251,353 for the same period in 2022, showing a decline of approximately 26.2%[15]. - The group added 16 new land reserves with a total acquisition cost of RMB 41.43 billion, contributing a total value of RMB 71.70 billion[29]. - The group acquired 13 land parcels in 11 cities in mainland China, adding a total floor area of 1.9 million square meters, with total land reserves of 60.96 million square meters as of June 30, 2023[3]. - The total completed project area in 28 cities in mainland China reached 6.74 million square meters during the period[35]. Assets and Liabilities - As of June 30, 2023, the group's total borrowings were RMB 251.55 billion, with cash and bank balances of RMB 114.21 billion, resulting in a net gearing ratio of 37.7%[3]. - The total assets of the company as of June 30, 2023, were RMB 616,880,038, down from RMB 632,102,667 as of December 31, 2022, representing a decrease of about 2.4%[8]. - The group's non-current assets totaled RMB 254.25 billion, while current assets amounted to RMB 666.19 billion as of June 30, 2023[7]. - Non-current liabilities decreased from RMB 259,004,842 as of December 31, 2022, to RMB 233,100,501 as of June 30, 2023, indicating a reduction of about 10.0%[8]. - The total amount of accounts receivable increased to RMB 5,181,182 from RMB 4,616,052 year-over-year[26]. Cash Flow and Financing - The group's total operating cash inflow was RMB 126.72 billion, with sales collection of RMB 120.27 billion[43]. - The total borrowings amounted to RMB 251.55 billion, with RMB 47.86 billion due within one year, accounting for 19.0% of total borrowings[43]. - The group maintained a low financing cost of 3.54% and a debt-to-asset ratio of 58.3% as of June 30, 2023[29]. - The total cash on hand was RMB 114.21 billion, providing a strong financial buffer against market fluctuations[29]. - The group has available funds totaling RMB 164.57 billion, consisting of bank balances and unused credit facilities of RMB 50.36 billion[44]. Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.35 per share[4]. - The mid-term dividend declared is HKD 0.35 per share, down from HKD 0.40 per share in 2022[48]. - The company declared an interim dividend of HKD 0.35 per share, amounting to approximately RMB 3,524,252,000[24]. ESG and Sustainability - The group aims to reduce carbon emissions intensity by over 30% by 2030, based on 2019 levels, as part of its carbon neutrality goals[47]. - During the first half of 2023, the group added 15 new projects meeting green building standards, totaling 2.56 million square meters, bringing the cumulative total to 584 projects with a total area of 10.1 million square meters[47]. - The group has been recognized as one of the top 30 companies in Hong Kong for ESG performance, being included in the Hang Seng Sustainable Development Index for 13 consecutive years[46]. - The group has received high ratings from major ESG rating agencies, including a top score from Refinitiv, ranking first among 499 real estate companies[46]. - The group has actively participated in rural revitalization efforts, focusing on promoting local specialty products in Gansu Province[47]. Governance and Compliance - The company has complied with the corporate governance code as of June 30, 2023, adhering to best practices[53]. - The audit and risk management committee reviewed the unaudited interim results for the six months ending June 30, 2023, discussing risk management and internal controls[55]. - The company has not adopted any new accounting standards that are expected to have a significant impact on the financial statements for the current period[10]. - The company plans to continue evaluating the impact of new accounting standards and their potential adoption in future reporting periods[10]. Other Financial Metrics - The group's share of net profit from joint ventures and associates reached RMB 1.29 billion[35]. - The company's rental income for the six months ended June 30, 2023, was RMB 2,431,157, which is a key component of the property investment segment[14]. - The group achieved rental income from investment properties of RMB 2.43 billion, with office rental income of RMB 1.65 billion and shopping center rental income of RMB 700 million[40]. - The group recorded a foreign exchange loss of RMB 1.73 billion during the period, compared to a loss of RMB 2.39 billion in the previous year[31]. - Net other income and (loss)/gain included bank deposit interest income of RMB 1,097,724, up 26.4% from RMB 868,306 in the previous year[18]. - Total financial expenses amounted to RMB 5,241,304, an increase of 8.3% from RMB 4,841,976 in the prior year[19].