Seazen(SH:601155) Cai Jing Wang·2025-09-10 15:27Core Viewpoint - New City Holdings (601155.SH) has demonstrated effective performance through its "commercial operation + real estate development" dual-drive strategy, achieving significant revenue and profit growth in the first half of 2025 [1][2] Financial Performance - The company reported a revenue of 22.1 billion yuan and a net profit attributable to shareholders of 895 million yuan in the first half of 2025 [1] - The commercial operation segment generated 6.944 billion yuan in revenue, reflecting an 11.78% year-on-year increase, with a gross profit margin of 71.20% [2] - The real estate development segment achieved a contract sales amount of 10.33 billion yuan and a high collection rate of 115.05% [2] Business Segments - The commercial operation and real estate development segments have complemented each other, enhancing the company's core competitiveness for sustainable development [1] - The company has 158 ongoing projects with a total construction area of 17.4847 million square meters, and unsold area of 11.7919 million square meters, providing a solid foundation for future performance [2] Growth Drivers - The newly established construction management business has become a "third growth pole," with over 3.05 million square meters of new signed area in the first half of 2025 [4] - The company has successfully positioned itself among the top 10 in brand value for construction management enterprises in China [4] Financial Stability - As of the end of the reporting period, the company had cash reserves of 9.183 billion yuan and a low net debt ratio of 53.40% [5] - The company has maintained a "zero default" record and has actively managed its debt, repaying 1.067 billion yuan in bonds in the first half of 2025 [5][6] ESG Commitment - The company has achieved a 100% green building coverage rate for new and ongoing projects, receiving 71 domestic and international green certifications [7] - Through its "Seven Color Light Plan," the company is actively engaged in social responsibility initiatives across various sectors, including education and community development [7]