Core Insights - The company reported a strong interim performance with a revenue of 47.57 billion yuan, a year-on-year increase of 34.6%, and a core net profit of 1.52 billion yuan [1] - Despite a general decline in sales within the real estate sector, the company achieved a contract sales amount of 61.5 billion yuan, reflecting an 11% increase year-on-year [1] - The company's strategic focus on first and second-tier cities has been a key factor in its sales growth, with 94% of its total land reserves located in these core urban areas [1] Financial Performance - The company’s sales average price increased from 29,500 yuan per square meter in mid-2024 to 42,100 yuan per square meter [2] - As of June 30, 2025, the company maintained a debt-to-asset ratio of 64.6% and a net gearing ratio of 53.2%, with cash reserves of 44.64 billion yuan, covering short-term debt by 1.7 times [2] Market Position and Ratings - The company received an investment-grade rating from S&P, with a stable outlook, making it the only local state-owned enterprise in the industry to achieve this rating [3] - Prior to S&P's rating, Fitch upgraded the company's rating outlook to "stable" in June, maintaining a "BBB-" investment-grade rating [3]

国际评级机构对中国房地产行业释放出积极信号。 8月25日，国际三大评级机构之一的标普发布报告，授予越秀地产(00123.HK)投资级评级，评级展望为稳定。与此同时， 标普授予公司的长期发行人信用评级为"BBB-"。至此，越秀地产成为行业内唯一获得标普投资级评级的地方国企。 标普在评级报告中强调，越秀地产获得该评级主要得益于其强大的政府与越秀集团支持背景、高度集中于高能级城市的 土地储备以及多元顺畅的融资渠道。越秀地产作为越秀集团的核心企业，同时获得广州市政府对维持房地产稳健发展的 持续支持。此外，标普指出，公司长期深耕一线及强二线城市，良好的市场口碑与经济韧性强的区域布局为其业绩提供 了稳定支撑。 越秀成为行业新"三好"学生 2025年上半年，越秀地产在投资、产品和财务等方面的表现十分亮眼，持续领跑行业。1-6月，公司实现合同销售额615 亿元，同比增长11%，增速位于TOP10房企第二名，在核心城市群的市场份额不断扩大，北京排名第一，广州第二，上海 第六。 产品力已成为越秀地产的核心竞争力，此前发布的"4×4好产品理念"被业内视为"好房子"的引领标准，多个高品质项目在 今年取得出色销售成绩。北京海淀的和樾望 ...