Sales Performance - In August, the company achieved a signed sales area of 518,600 square meters and a signed sales amount of 19.455 billion yuan [1] - For the first eight months of 2025, the cumulative signed sales area reached 4.4527 million square meters, with a cumulative signed sales amount of 124.008 billion yuan [1] Land Acquisition - In August, the company invested approximately 12.875 billion yuan to acquire four land parcels [1] - The land acquisitions included residential and mixed-use projects in Shenzhen, Xi'an, and Shanghai, with total land areas ranging from 3.02 to 10.39 million square meters [2] Financial Performance - For the first half of 2025, the company reported an operating revenue of approximately 51.485 billion yuan, a year-on-year increase of 0.41% [2] - The net profit attributable to shareholders was about 1.448 billion yuan, reflecting a year-on-year increase of 2.18% [2] - The net profit after deducting non-recurring gains and losses was approximately 961 million yuan, a decrease of 31.23% year-on-year [2] - The gross profit margin before tax was 14.38%, an increase of 2.39 percentage points year-on-year [2] - The net cash flow from operating activities was approximately -2.005 billion yuan, a decline of 255.77% year-on-year [2] Year-to-Date Sales and Land Acquisition - In the first half of the year, the company achieved a cumulative signed area of 3.35 million square meters and a cumulative signed sales amount of 88.894 billion yuan [3] - The company acquired a total of 16 land parcels in the first half, with a total construction area of approximately 1.67 million square meters and a total land price of about 35.3 billion yuan, of which the company needs to pay approximately 21.9 billion yuan [3]