Core Viewpoint - Midea Real Estate expresses confidence in its growth potential post-restructuring, projecting a revenue growth rate of around 20% for 2025, with a focus on enhancing service capabilities and maintaining a strong financial position [1][4]. Financial Performance - For the first half of the year, Midea Real Estate reported a revenue of 2 billion yuan, a year-on-year increase of 41%, with property management services contributing 930 million yuan (up 9%) and development services contributing 500 million yuan [1]. - The company's core net profit attributable to shareholders reached 310 million yuan, reflecting a 119% increase, with a gross margin of 30.8% [1]. - Total assets amounted to 9.49 billion yuan, with net assets of 4.98 billion yuan and operating cash flow of 440 million yuan, maintaining a cash balance of 1.27 billion yuan with no interest-bearing debt [1]. Business Strategy - Midea Real Estate's strategy focuses on enhancing its core competencies in development services and property management, emphasizing high-quality products and services derived from its manufacturing background [2]. - The company aims to deepen its presence in first- and second-tier cities, leveraging its brand and product advantages to drive steady growth in development scale [3]. - The development services segment, newly added post-restructuring, is expected to generate approximately 1 billion yuan in revenue for 2025, with ongoing projects and third-party collaborations enhancing its service capabilities [4]. Market Position - Midea Real Estate prioritizes service quality over market share, currently serving 450,000 families and 1.5 million owners, and plans to focus on improving service capabilities rather than pursuing aggressive expansion [2]. - The company has signed four third-party projects with a total contract value of 16 million yuan, indicating a strategic approach to resource integration and high-quality service delivery [4].