Financial Performance - For the first half of 2023, the company recorded a profit of RMB 913 million, with attributable profit to shareholders increasing by 37% year-on-year to RMB 618 million[7]. - In Q2 2023, the group reported a revenue of RMB 6.431 billion, a 46% increase compared to the same period in 2022[15]. - The group's profit for the period grew by 17% to RMB 913 million, while profit attributable to shareholders increased by 37% to RMB 618 million[15]. - Revenue for the six months ended June 30, 2023, was RMB 6,431 million, a 45.6% increase from RMB 4,415 million in the same period of 2022[72]. - Gross profit for the first half of 2023 increased by 5% to RMB 2.949 billion, while the gross profit margin decreased to 46% from 64% in the same period of 2022[55]. - The company reported a significant increase in share of profits from associates and joint ventures, reaching RMB 689 million compared to a loss of RMB 73 million in the previous year[72]. - The company’s net profit attributable to shareholders for the first half of 2023 was RMB 618 million, a 37% increase from RMB 450 million in the same period of 2022[58]. - The company reported a tax expense of RMB 957 million for the first half of 2023, up from RMB 248 million in the same period of 2022, attributed to increased profits from property sales[57]. Property Sales and Development - Property sales for the first half of 2023 surged by 90% to RMB 4.662 billion, compared to RMB 2.449 billion in the same period of 2022[7]. - The confirmed property sales for the first half of 2023 amounted to RMB 34.706 billion, a significant increase attributed to the delivery of several high-value projects in Shanghai, with an average selling price rising 49% to RMB 76,100 per square meter[19][20]. - The company’s contracted property sales for the first half of 2023 reached RMB 4.564 billion, a decrease of 76% compared to RMB 18.715 billion in the same period of 2022, primarily due to the timing of project launches[21][22]. - The average selling price of residential properties in the first half of 2023 was RMB 53,900 per square meter, down from RMB 105,700 per square meter in the same period of 2022, reflecting a higher proportion of lower-priced projects outside Shanghai[21]. - The company plans to launch more properties in the second half of 2023, capitalizing on market recovery and project development progress[21]. Rental and Related Income - Rental and related income, including joint ventures and associates, totaled RMB 1.515 billion, reflecting a year-on-year growth of 3%[7]. - Rental and related income totaled RMB 1.515 billion, reflecting a 3% year-on-year growth, with 74% of this income derived from properties in Shanghai[17]. - The average occupancy rate for the group's office properties remains stable at 88%, with Shanghai office properties achieving an average occupancy rate of 92%[9]. - The average occupancy rate for the retail property portfolio was 91%, with sales and foot traffic recovering to 109% and 120% of the levels seen in the same period of 2021, respectively[33]. Financial Management and Strategy - The company has maintained a prudent financial management approach, carefully selecting new investment projects to ensure financial stability[7]. - The group successfully issued RMB 4.401 billion in onshore commercial mortgage-backed securities (CMBS), rated AAAsf, with a coupon rate of 3.9%[11]. - The successful issuance of the CMBS highlights the company's strong capital management capabilities and commitment to sustainable development[18]. - The company aims to utilize the net proceeds from the CMBS issuance for debt repayment and general working capital[18]. - The group anticipates strong residential sales momentum in the second half of the year despite ongoing market challenges[12]. Market Conditions and Economic Outlook - The economic outlook remains cautious, with the World Bank adjusting China's growth forecast to 5.6% for 2023, but highlighting significant downside risks[6]. - The real estate market in China is experiencing challenges, particularly in lower-tier cities, while properties in core cities remain resilient[8]. - The GDP growth in Wuhan for the first half of 2023 was 5.0%, with fixed asset investment, real estate investment, and retail sales increasing by 5.3%, 7.7%, and 9.0% respectively[53]. - The People's Bank of China lowered the one-year and five-year loan benchmark rates by 10 basis points in June 2023 to boost confidence in the real estate sector[52]. Corporate Governance and Shareholder Information - The board proposed an interim dividend of HKD 0.032 per share, down from HKD 0.036 per share in the first half of 2022[7]. - The company has complied with the Corporate Governance Code and all applicable provisions during the six months ended June 30, 2023[131]. - The board consists of 12 members, including 4 executive directors and 8 independent non-executive directors, ensuring a majority of independent members for good corporate governance[133]. - The company has established a clear division of responsibilities between the Chairman and the CEO to enhance governance[134]. Sustainability and ESG Efforts - The group aims to reduce energy consumption intensity of existing properties by 20% by 2030 compared to 2019 levels as part of its commitment to the Science Based Targets initiative (SBTi)[9]. - The group has been recognized for its ESG efforts, being included in the Bloomberg Gender-Equality Index and the 2023 Fortune China ESG Impact List[10]. - The Sustainability Committee provided insights on sustainability trends and practices, assisting the board in creating shareholder value and complying with ESG reporting guidelines[138].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責，對其準確性或完整性亦不發表任何聲明， 並明確表示，概不會就因本公佈的全部或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 本公佈僅供參考，並不構成收購、購買或認購證券的邀請或要約，亦非提呈任何該等要約或邀請。尤其本公佈並不構成亦 非提呈出售或邀約購買香港、美國或其他地方的證券之要約。 根據一九三三年美國證券法，在概無註冊或獲豁免註冊的情況下，不得於美國提呈或出售證券。任何在美國公開發售證券 僅可透過招股章程的形式進行，招股章程可向發行人或出售證券的持有人索取，且當中須載列發行人及其管理層的詳細資 料以及財務資料。本公佈所提述的證券概無計劃於美國公開發售。 Shui On Land Limited 瑞安房地產有限公司* （於開曼群島註冊成立之有限責任公司） （股份代號：272） 2023 年中期業績公佈 摘要 ➢ 儘管市場環境仍然充滿挑戰，集團業績表現穩健：2023年，中國房地產行業繼續面對重重挑戰。雖然中國 商業活動在新冠疫情防控措施解除後有所恢復，但消費者仍持謹慎態度，導致2023年上半年復甦弱於預期。 同時，大多數發 ...

Shui On Land (00272) H1 2023 Earnings Call August 21, 2023 08:00 PM ET Speaker0 Good evening, ladies and gentlemen. Welcome to Shireon Land's twenty twenty three Interim Results Analyst Briefing. Thank you very much for joining us online this evening. We are pleased to have five members of the senior management team with us today, Mr. Vincent Lo, our Chairman Ms. Stephanie Lo, Executive Director of Shuyong Land and Vice Chairman of Shuyong Xin TianD Mr. Douglas Song, Chief Financial Officer and Chief Invest ...

Financial Performance - Total revenue for 2022 was RMB 15,565 million, a decrease of 11.3% from RMB 17,555 million in 2021[13]. - Basic earnings per share for 2022 were RMB 11.3 cents, down from RMB 20.3 cents in 2021[18]. - The proposed final dividend for 2022 is HKD 0.064 per share, compared to HKD 0.084 per share in 2021[18]. - In 2022, the company recorded a net profit of RMB 1.475 billion, with profit attributable to shareholders at RMB 906 million, reflecting a decrease compared to the previous year due to rental concessions and currency depreciation during the Shanghai lockdown[32]. - The company reported a significant increase in investment capabilities and performance under the leadership of the Chief Financial Officer, who has over 20 years of experience in the Asian real estate sector[47]. - The company reported a net profit of RMB 1.475 billion for 2022, with a profit attributable to shareholders of RMB 906 million[92]. - Revenue decreased by 11% to RMB 15.565 billion in 2022, down from RMB 17.555 billion in 2021, primarily due to delays in construction and delivery of residential units[92]. - The gross profit for 2022 was RMB 1,924 million, reflecting a 7% decline compared to the previous year[118]. - The annual profit for 2022 was RMB 1.475 billion, down from RMB 2.208 billion in 2021[140]. - The company's attributable profit to shareholders was RMB 906 million, a decrease of 45% compared to RMB 1,636 million in 2021[141]. Property Development and Sales - Property development revenue was RMB 11,695 million, down 14.2% from RMB 13,638 million in the previous year[13]. - The group achieved a total contracted property sales amount of RMB 27.2 billion in 2022[23]. - The total contracted property sales amounted to RMB 27.2 billion in 2022, down from RMB 30.3 billion in 2021, indicating strong market demand for the company's unsold properties[32]. - The company achieved total contracted property sales of RMB 27.219 billion, with residential property sales amounting to RMB 25.783 billion and commercial property sales at RMB 1.436 billion[33]. - The company confirmed that the sales from the Wuhan Tianji project contributed RMB 436 million in residential sales in 2022[100]. - The total sales revenue from delivered units in the Shanghai Ruihong New City project reached RMB 10.291 billion as of December 31, 2022[105]. - The total sales revenue for the residential units in the project "Zhongliang Ruihong • Haijing No. 1" reached RMB 10.291 billion, with all 609 units sold by December 31, 2022[73]. - The total construction area for the new project in Shanghai Yangpu is 23,791.32 square meters, with a purchase price of RMB 2.376 billion[72]. Financial Management and Debt - The net asset liability ratio was maintained at a stable level of 45%[22]. - The company signed a RMB 10 billion cooperation memorandum with Shanghai Pudong Development Bank for M&A financing[22]. - The group repaid or refinanced a total of RMB 6.797 billion in borrowings during the year[22]. - The company redeemed USD 600 million of 6.40% perpetual capital securities in June 2022, increasing the net debt-to-equity ratio to 45% from 30% as of December 31, 2021[92]. - The company's net debt as of December 31, 2022, was RMB 20.144 billion, an increase from RMB 14.579 billion in 2021[147]. - The net asset liability ratio increased to 45% in 2022 from 30% in 2021, primarily due to the redemption of USD 600 million in perpetual capital securities[147]. Sustainability Initiatives - The company reduced carbon emissions intensity by 27.5% and energy consumption intensity by 12.2% compared to 2021, demonstrating commitment to sustainability[24]. - 95% of the company's commercial property area has received green certification, highlighting its focus on sustainable development[24]. - The company signed a green covenant with 100 suppliers to create a green supply chain, further enhancing its sustainability initiatives[24]. - The company joined the "Business With Purpose 2022" platform to further integrate sustainability into its corporate activities[24]. - The company has committed to reducing carbon emissions in line with the Science Based Targets initiative, aiming to limit global temperature rise to below 1.5ºC[35]. - The company aims to enhance employee awareness of its sustainable development vision, with approximately 99% of relevant employees completing training related to environmental, social, and governance issues in 2022[192]. Market Conditions and Outlook - The real estate market in China is expected to undergo a period of adjustment, with cautious buyers and some developers facing liquidity issues, although there are signs of slight recovery in transactions[37]. - The government is easing property market regulations to improve developers' asset-liability ratios and restore market confidence, as seen in Wuhan's recent relaxation of purchase restrictions[37]. - The Chinese government's optimization of pandemic control policies in December 2022 led to a 12.2% increase in sales revenue for consumer-related industries during the Spring Festival in January 2023 compared to the previous year[37]. - The overall economic outlook for 2023 remains cautious, with the government announcing a growth target of around 5% due to uncertainties in the global economy[151]. Corporate Governance - The board consists of 11 members, including 4 executive directors and 7 independent non-executive directors, with independent directors accounting for approximately 64% of the board[163]. - The company ensures that independent non-executive directors can seek independent advice to maintain their independence and effectiveness[158]. - The board's diversity policy is reviewed annually by the nomination committee to assess its implementation and effectiveness[162]. - The company has received annual confirmations of independence from all independent non-executive directors, affirming their ability to make independent judgments[159]. - The company is committed to creating a diverse and inclusive work environment, prohibiting any form of discrimination[172]. Investment Properties - As of December 31, 2022, the fair value of the group's investment properties (excluding hotels and self-used properties) was RMB 96.513 billion, with a total built area of 2,635,700 square meters[110]. - The total built area of the group's land reserves was 9.3 million square meters, including 6.8 million square meters available for lease and sale, and 2.5 million square meters for clubhouses, parking lots, and other facilities[112]. - The completed investment properties had a total rental area of 1,376,200 square meters, with a fair value increase of RMB 98 million in 2022[111]. - The group reported a fair value decrease of RMB 596 million across its total investment properties in 2022, representing a 0.6% decline[111]. Board and Management Structure - The company has a diverse board with members holding multiple degrees and significant experience in finance and management, enhancing its decision-making capabilities[50]. - The independent non-executive director has extensive academic and professional credentials, contributing to the company's governance and strategic oversight[48]. - The company has appointed Wang Ying as the CEO effective January 1, 2022, separating the roles of Chairman and CEO for clearer responsibilities[161]. - The company emphasizes continuous professional development for directors, providing updates on legal and regulatory developments[174].

Shui On Land (00272) H2 2022 Earnings Call March 23, 2023 06:00 AM ET Speaker0 Good evening, ladies and gentlemen. Welcome to ShuiON Land's twenty twenty two Annual Results Analyst Briefing. Thank you very much for joining us online this evening. We are pleased to have five members of the senior management team with us today, Mr. Vincent Lo, our Chairman Ms. Stephanie Lo, Executive Director of Shui Yong Land and Vice Chairman of Shui Yong Ting Ting D Mr. Douglas Song, Chief Financial Officer and Chief Inves ...

Financial Performance - In 2022, the company recorded a net profit of RMB 1.475 billion, with profit attributable to shareholders amounting to RMB 906 million, reflecting a decrease of 33% and 45% respectively compared to 2021[1][2][3]. - Total revenue for 2022 decreased by 11% to RMB 15.565 billion, down from RMB 17.555 billion in 2021, primarily due to delays in construction and delivery of residential units[2][3]. - Contracted property sales fell by 10% year-on-year to RMB 27.219 billion, while recognized property sales amounted to RMB 11.695 billion, a decrease of 14% from the previous year[2][3]. - The total rental and related income decreased by 4% to RMB 2.802 billion, impacted by rent concessions provided to tenants[2][3]. - The company declared a final dividend of HKD 0.064 per share, down from HKD 0.084 in 2021, resulting in a total dividend of HKD 0.10 for 2022[2][3]. - The company reported a significant increase in customer interest, with over 2,000 subscriptions for 571 units in the Shanghai Panlong Tiandi project[13]. - The company’s annual profit for 2022 was RMB 1,475 million, a significant decrease from RMB 2,208 million in 2021, representing a decline of 33.2%[73]. Assets and Liabilities - The net asset liability ratio increased to 45% from 30% in 2021, reflecting a 15 percentage point rise due to the redemption of USD 600 million of perpetual capital securities[1][3]. - The total assets decreased by 8% to RMB 104.878 billion, down from RMB 113.896 billion in 2021[3]. - The group’s total liabilities as of December 31, 2022, were RMB 20.144 billion, with total equity amounting to RMB 44.401 billion[51]. - The company has pledged assets totaling RMB 35.536 billion as of December 31, 2022, to secure borrowings of RMB 10.662 billion[52]. - The group has contractual development costs and capital expenditure commitments of RMB 5.771 billion as of December 31, 2022, down from RMB 8.999 billion in the previous year[53]. Market Outlook - The company anticipates gradual economic recovery following government support measures, with improved business sentiment expected as COVID-19 restrictions are eased[2]. - The global economic growth is projected to decline from 3.4% in 2022 to 2.9% in 2023 due to geopolitical tensions and inflation[92]. - China's economic growth slowed to 3.0% in 2022, with a rebound expected following the end of the "clearing zero" policy and reopening of borders[92]. - The government has set a GDP growth target of 5.5% for Shanghai in 2023, focusing on AI, new energy vehicles, semiconductors, and high-end equipment[93]. Property Development - The company has approximately 291,000 square meters of residential properties available for sale and pre-sale in 2023, covering six projects[11]. - The company plans to launch new projects in 2023, including the Wuhan Yangtze Tiandi project with a total saleable area of 124,900 square meters[11]. - The total area of residential properties sold in 2022 was approximately 273,700 square meters, a decrease from 466,800 square meters in 2021[10]. - The company has locked in total sales of RMB 40.9 billion as of December 31, 2022, which will be recognized in the fiscal year 2023 and beyond[2]. Investment Properties - As of December 31, 2022, the group's investment properties (excluding operating hotels and self-used properties) had a book value of RMB 96.513 billion, with a total built area of 2,635,700 square meters[21]. - The investment properties located in Shanghai, Wuhan, Foshan, Nanjing, and Chongqing accounted for 79%, 10%, 6%, 3%, and 2% of the book value, respectively[21]. - The total area available for lease is 1,393,200 square meters, with a total fair value of RMB 53.152 billion[22]. Financial Management - The company’s cash flow management is aimed at maintaining a balance between resource utilization, bank borrowings, and debt financing to ensure liquidity[54]. - The company has entered into forward contracts totaling approximately USD 1.530 billion and HKD 300 million to hedge currency risks as of December 31, 2022[55]. - The company incurred financial expenses, including exchange differences, totaling RMB 2.127 billion in 2022, up from RMB 895 million in 2021, with interest expenses rising 7% to RMB 1.951 billion[44]. Employee and Corporate Governance - The company employed 3,098 employees as of December 31, 2022, a decrease from 3,186 employees in 2021, including 1,545 property management personnel[101]. - The company is focused on providing a range of employee benefits and career development opportunities, including retirement plans and medical insurance[101]. - The company’s board confirmed compliance with the standards set out in the Securities Trading Code for directors throughout the year ended December 31, 2022[100]. Strategic Initiatives - The company plans to maintain a cautious approach and closely monitor market recovery while seeking suitable acquisition opportunities[94]. - The company is exploring suitable acquisitions and development projects to enhance its portfolio[105]. - The company is committed to its dividend policy and maintaining a strong financial position[105].