Core Viewpoint - Poly Property Group (00119) reported a revenue of 18.444 billion yuan for the six months ending June 30, 2025, representing a year-on-year increase of 48.07%, while the profit attributable to shareholders decreased by 44.31% to 208 million yuan, with basic earnings per share at 5.44 cents [1] Financial Performance - The group achieved a contract sales amount of 26.7 billion yuan during the period, a year-on-year decrease of 6% [1] - The average contract sales price increased by 9% year-on-year to 27,763 yuan per square meter [1] Market Position - As of the end of June, the group ranked 15th in the CRIC full-caliber sales list, improving by 2 positions compared to the end of last year [1] Land Acquisition and Strategy - The company acquired 9 real estate development projects in the first half of the year, adding approximately 1.183 million square meters to its land reserves, with an equity ratio of 74% [1] - The total land investment in Shanghai, Hangzhou, and Guangzhou accounted for 88% of the total land cost [1] Industry Trends - The land market is showing a trend of reduced volume but improved quality, with real estate companies actively acquiring land in first-tier and core second-tier cities, leading to a noticeable increase in land auction premium rates [1] - The sales proportion from the Yangtze River Delta and Greater Bay Area has further increased to 76% [1]