Shenzhen Zhenye Group(SZ:000006)2022-12-08 09:45Sales Performance - The company's sales performance in the first half of the year was normal, with key projects for revenue recognition in the second half being Shenzhen Luanshan Valley Garden Phase II, Changsha Zhenye City Phase I, and Xi'an Zhenye Boshou Phase II [2][3]. Collaboration with Metro Projects - Due to the land nature of the cooperation project with the metro, a separate operating company cannot be established; instead, a project department was formed to share investments and profits, leveraging each party's strengths [3]. Land Acquisition Strategy - The company's land reserve strategy focuses on Shenzhen, with no current participation in urban renewal projects, but it is actively tracking developments in this area for potential collaboration or acquisition [3]. Financial Performance and Debt Management - The company anticipates a significant decrease in performance due to project development cycles, with fewer projects recognized for revenue compared to the previous year [3][4]. - The company maintains a low debt-to-asset ratio and prioritizes financial safety, primarily relying on bank loans for funding [3]. Bond Approval Progress - The company is currently awaiting approval from the Securities Regulatory Commission for its bond issuance [4]. Shareholding Changes - The controlling shareholder is increasing their stake in the company by up to 2% over the next 12 months, while a natural person shareholder has reduced their holdings for financial investment purposes [4]. Project Development Cycle - The project development cycle varies based on specific project conditions, with the company adopting a rapid turnover and development model to enhance asset turnover and project profitability [4].