Seazen(SH:601155) Mei Ri Jing Ji Xin Wen·2025-09-10 14:59Core Viewpoint - The real estate industry is undergoing a deep adjustment period, shifting focus from "scale" to "operation," with an emphasis on quality as a competitive advantage. Companies must adapt to this transformation to thrive in the market [1]. Financial Performance - New City Holdings reported a revenue of 22.1 billion yuan and a net profit of 0.895 billion yuan for the first half of 2025, with total contract sales reaching 10.33 billion yuan and a total cash recovery of 11.884 billion yuan, achieving a cash recovery rate of 115.05% [1]. - The company maintained positive operating cash flow for eight consecutive years, with a cash balance of 9.183 billion yuan and a net debt ratio of 53.40% as of the reporting period [5][6]. Commercial Operations - The commercial operations segment generated a total revenue of 6.944 billion yuan, reflecting a year-on-year growth of 11.78%, highlighting the resilience of the company's nationwide commercial operations [2]. - The total foot traffic at Wu Yue Plaza reached 950 million, with total sales exceeding 51.5 billion yuan, marking a year-on-year increase of 16.0% and 16.5%, respectively [2]. Strategic Initiatives - The company adopted a "five-sided" operational philosophy focusing on quality space, customer satisfaction, craftsmanship, green intelligence, and mutual engagement to enhance customer experience and asset returns [3]. - New City Holdings successfully issued a $300 million senior unsecured bond and a 1 billion yuan medium-term note, demonstrating its ability to access diverse financing channels [6][7]. Social Responsibility - The company has delivered over 16,000 properties across 36 projects, with a total completion area of 2.7765 million square meters, while actively participating in various public welfare activities [9]. - New City Holdings has planted 205,000 trees and contributed to greening efforts over 2.05 million square meters, aligning with its commitment to sustainable development and ESG principles [10]. Market Position - As of the reporting period, the company operated 205 Wu Yue Plaza complexes, with an occupancy rate of 97.81%, solidifying its position as a leader in the commercial real estate sector [4]. - New City Holdings received multiple accolades, including rankings in the top 10 for comprehensive strength and financing capability among China's real estate companies [10].