Core Viewpoint - Midea Real Estate Holdings Limited demonstrated strong performance in the first half of 2025, achieving significant growth despite industry adjustments, driven by clear strategic positioning and sustainable operational capabilities [1][3]. Financial Performance - In the first half of 2025, Midea Real Estate reported revenue of 2 billion yuan, a year-on-year increase of 41%, ranking among the industry's top growth rates [3]. - The core net profit attributable to shareholders reached 310 million yuan, up 119% year-on-year, with a gross margin of 30.8% [3]. - The company maintained a robust financial structure with total assets of 9.49 billion yuan, net assets of 4.98 billion yuan, and operating cash flow of 440 million yuan, with no interest-bearing debt [3]. Shareholder Returns - Midea Real Estate declared its first interim dividend of 0.15 HKD per share, with cumulative dividends since its listing in 2018 amounting to approximately 7.61 HKD per share [4]. Business Segments - The company operates four core business segments: development services, property management, asset operation, and real estate technology, all contributing to high-quality growth [5][11]. - In development services, Midea Real Estate generated 500 million yuan in revenue, focusing on urban development and leveraging existing resources [5]. - The property management segment achieved revenue of 930 million yuan, with a managed area of 79.46 million square meters [7]. - Asset operation revenue reached 230 million yuan, with a self-owned project occupancy rate of 91% [9]. - In real estate technology, the company reported revenue of 290 million yuan, emphasizing digital and green solutions [11]. Strategic Focus - The company is committed to enhancing product quality and service standards, aligning with the industry's shift from "incremental expansion" to "stock quality improvement" [12][15]. - Midea Real Estate aims to deepen its service capabilities in residential, industrial, and healthcare sectors, focusing on differentiated product offerings and refined services [15].