Core Insights - The company reported a revenue of RMB 587.5 billion for the first half of 2025, representing a year-on-year growth of 25.4% [1] - The real estate development segment generated revenue of RMB 454.8 billion, up 34.7% year-on-year, while the operational business revenue was RMB 70.1 billion, growing by 2.5% [1] - The profit attributable to shareholders was RMB 32.2 billion, with a core profit of RMB 13.8 billion after excluding fair value changes, primarily driven by growth in operational and service businesses [1] - The company declared an interim dividend of RMB 0.07 per share [1] Financial Performance - As of June 30, 2025, total borrowings amounted to RMB 1,698.0 billion, a decrease of RMB 65.3 billion from the end of the previous year [1] - Cash on hand was reported at RMB 446.7 billion [1] - Contract sales for the first half of 2025 reached RMB 350.1 billion, with a total sold area of 2.614 million square meters and an average selling price of RMB 13,393 per square meter [1] Market Position - The highest sales contribution came from the Western region (28.1%) and the Yangtze River Delta (26.5%) [1] - The company has unrecognized contract sales of RMB 1,059 billion, covering an area of approximately 8.54 million square meters [1] - As of June 30, 2025, total land reserves were 28.4 million square meters, with an equity area of 21.13 million square meters and an average cost of RMB 4,207 per square meter [1] Strategic Focus - In the second half of the year, the company will continue to focus on core city investments, adjust the pace of project launches flexibly, and enhance product quality [2] - The company aims to adhere to a high-quality development strategy, maintain prudent financial management, systematically reduce debt, adjust inventory structure, and promote growth in operational and service businesses to achieve sustainable development through positive operating cash flow [2]

2025年1至6月，集团合同销售额为人民币350.1亿元，销售总建筑面积261.4万平方米，销售单价为人民 币13,393元╱平方米。西部、长三角、环渤海、华南及华中片区合同销售额分别为人民币98.3亿元、人 民币92.9亿元、人民币82.2亿元、人民币42.1亿元及人民币34.6亿元，分别占集团合同销售额的28.1%、 26.5%、23.5%、12.0%及9.9%。于2025年6月30日，集团已售出但未结算的合同销售额为人民币1,059亿 元，面积约为854万平方米。 于2025年6月30日，集团的土地储备合计2,840万平方米，权益面积为2,113万平方米。土地储备的平均成 本为每平方米人民币4,207元。按地区分析，环渤海地区、西部地区、华中地区、长三角地区及华南地 区的土地储备分别占土地储备总面积的36.3%、28.0%、17.1%、11.3%及7.3%。 下半年集团将继续坚持在核心城市的投资布局，结合市场情况灵活铺排推盘节奏，聚焦存货去化，并以 客户为中心持续精进产品力。面对未来，集团将坚守高质量发展的核心战略，坚持稳健的财务管理策 略，有序压降债务规模，持续调整存货结构，推动运营及服务业务稳步增长 ...