YUEXIU PROPERTY(HK:00123) Zheng Quan Shi Bao Wang·2025-08-26 12:59Core Viewpoint - Yuexiu Property (00123.HK) reported a 11% year-on-year increase in contract sales to 61.5 billion yuan in the first half of 2025, achieving 51% of its annual sales target of 120.5 billion yuan, with confidence in meeting the full-year goal [1][2] Group 1: Sales Performance - The company achieved a sales increase despite market challenges, attributed to precise market analysis, strong product and service capabilities, and strategic urban positioning in core cities [2] - The sales performance reflects the company's ability to navigate a fluctuating market, with a focus on quality over high premium land acquisitions [2] Group 2: Investment Strategy - The company acquired 13 new land parcels in major cities like Guangzhou, Shanghai, Beijing, and Hangzhou, with an average premium rate of 9%, significantly lower than the average of top ten real estate firms [1] - The company adopted a peak-avoidance strategy in land acquisition, particularly in the first quarter when market premiums were high, and expects to capitalize on more rational market conditions in the second half of the year [2] Group 3: Financial Health - The company reported a net operating cash inflow of 4.1 billion yuan and maintained cash reserves of 44.64 billion yuan, with financing costs reduced to 3.16%, a decrease of 41 basis points year-on-year [1] - The company is actively engaging with local governments for suitable projects, with three land recovery projects completed by June 30, involving a cash amount of 13.5 billion yuan [2] Group 4: Land Ticket Utilization - The company has already realized 6.3 billion yuan from the 12 billion yuan land tickets obtained from land recovery, with plans to fully utilize the remaining funds by mid-next year [3]