CHINA OVERSEAS(HK:00688) 智通财经网·2025-03-31 04:09Core Viewpoint - China Overseas Development reported a revenue of 185.154 billion RMB for the year ending December 31, 2024, a decrease of 8.58% year-on-year, with a net profit attributable to shareholders of 15.636 billion RMB, down 38.95% year-on-year, and proposed a final dividend of 0.30 HKD per share [1] Group 1: Financial Performance - The company achieved a contract property sales amount of 310.69 billion RMB in 2024, a slight increase of 0.3% year-on-year, making it the only top ten real estate company in China to experience sales growth [1] - The company’s net profit attributable to shareholders decreased by 38.95% year-on-year to 15.636 billion RMB, with basic earnings per share at 1.43 RMB [1] - The company maintained a strong financial position with a debt-to-asset ratio of 55.8% and a net gearing ratio of 29.2% as of December 31, 2024 [3] Group 2: Market Strategy - The company focused on first-tier cities, achieving significant market share, ranking first in Beijing, Shanghai, and Shenzhen, and among the top three in Guangzhou [2] - The company launched high-end products targeting improvement housing demand, with notable sales in projects like the Jiuxu series, achieving record sales in various cities [2] - The company’s commercial property operations increased by 300,000 square meters, generating revenue of 7.13 billion RMB, a year-on-year growth of 12.1% [3] Group 3: Investment and Debt Management - The company acquired 22 land parcels in 12 cities in mainland China, with a total land acquisition amount of 80.61 billion RMB, leading the industry in new land purchases [3] - The company actively managed its interest-bearing debt, repaying 17.55 billion RMB in debt, optimizing its debt structure [3] - The average financing cost for the company in 2024 was 3.1%, placing it in the lowest range within the industry [3]