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中国奥园(03883.HK)上半年总营业额44.66亿元 净亏损88.14亿元

Core Viewpoint - China Aoyuan (03883.HK) reported a decline in total revenue for the first half of 2025, amounting to approximately RMB 4.466 billion, a decrease of 5.7% year-on-year, with significant losses attributed to previous gains from debt restructuring [1] Financial Performance - The company recorded a loss attributable to shareholders of approximately RMB 8.814 billion, compared to a profit of about RMB 22.312 billion in the same period of 2024, which included a debt restructuring gain of approximately RMB 26.638 billion [1] - Revenue from property sales was approximately RMB 3.829 billion, reflecting a year-on-year decrease of 4.1%, while the total floor area of delivered properties increased by 24.4% [1] Business Segments - Revenue from property development accounted for 85.8% of total revenue, while other income from hotel operations and property investment contributed 12.8% and 1.4%, respectively [1] Land Reserves - As of June 30, 2025, the company maintained a total land reserve in the Guangdong-Hong Kong-Macao Greater Bay Area of approximately 5.39 million square meters, with an equity area of about 4.06 million square meters [1] Cash Position - The company reported cash and bank deposits of approximately RMB 328 million as of June 30, 2025, alongside restricted bank deposits of approximately RMB 1.970 billion, which are subject to guarantees, mortgages, or judicial freezes [1]