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].

Group 1 - The core viewpoint of the articles highlights the financial performance of Midea Real Estate for the six months ending June 30, 2025, showing a revenue increase of 41.3% year-on-year to 1.997 billion RMB, while shareholder profit decreased by 18.73% to 305 million RMB [1] - The property management service revenue reached 930 million RMB, an increase of 8.7% compared to 856 million RMB in the same period of 2024, driven by business expansion and the rolling delivery of existing residential projects [1] - As of the reporting period, the contracted area for property management was 96.06 million square meters, with managed area at 79.46 million square meters, and the average occupancy rate of operational commercial entities exceeded 90% [1] Group 2 - The development services segment was established following the completion of the physical distribution and sale (restructuring) on October 22, 2024, focusing on the full-chain development management of real estate assets held by the controlling shareholder post-restructuring [2] - This new segment encompasses property design, development, planning, construction, and sales, and aims to qualitatively expand third-party construction services [2]

Group 1 - The core viewpoint of the articles highlights the financial performance of Midea Real Estate for the six months ending June 30, 2025, showing a revenue increase of 41.3% year-on-year to 1.997 billion RMB, while shareholder profit decreased by 18.73% to 305 million RMB [1] - The property management service revenue reached 930 million RMB, an increase of 8.7% compared to 856 million RMB in the same period of 2024, driven by business expansion and the rolling delivery of existing residential projects [1] - As of the reporting period, the contracted area for property management was 96.06 million square meters, with managed area at 79.46 million square meters, and the average occupancy rate of operational commercial entities exceeded 90% [1] Group 2 - The development services segment was established following the completion of the physical distribution and sale (restructuring) on October 22, 2024, focusing on the full-chain development management of real estate assets held by the controlling shareholder post-restructuring [2] - This new segment encompasses various stages of property management, including design, development, planning, construction, and sales, and aims to qualitatively expand third-party construction services [2]