Shimao's mid-term report for the six months ended on June 30, 2024, showed a 18% decrease in company revenue to CNY 2197.49 billion, but the profit attributable to shareholders increased significantly by 133% to CNY 101 billion. Excluding investment properties, the profit increased even further by 174% to CNY 109.96 billion. Total assets of the company increased by 3% to CNY 41937.6 billion, and shareholder's equity increased significantly by 40% to CNY 5493.31 billion. Interim dividend per share increased by 100% to HKD 3 cents, and earnings per share increased by 123% to CNY 7.26. Basic earnings per share, excluding investment properties, increased by 163% to CNY 7.93. In the report, Shimao mentioned that in the face of downward pressure on the economy, the company maintains stable operation and pays attention to risk control and...Show More

Shimao's mid-term report for the six months ended on June 30, 2024, showed a 18% decrease in company revenue to CNY 2197.49 billion, but the profit attributable to shareholders increased significantly by 133% to CNY 101 billion. Excluding investment properties, the profit increased even further by 174% to CNY 109.96 billion. Total assets of the company increased by 3% to CNY 41937.6 billion, and shareholder's equity increased significantly by 40% to CNY 5493.31 billion. Interim dividend per share increased by 100% to HKD 3 cents, and earnings per share increased by 123% to CNY 7.26. Basic earnings per share, excluding investment properties, increased by 163% to CNY 7.93. In the report, Shimao mentioned that in the face of downward pressure on the economy, the company maintains stable operation and pays attention to risk control and coordinated development. Looking ahead, Shimao expects the domestic economy to continue to recover and promote high-quality development through strategic measures. After the reporting period, Shimao's board of independent directors decided not to exercise the option to purchase a 15% equity interest in Sinochem Group's Shimao investment, which is in line with the company's cautious investment policy and the overall best interests of shareholders. In addition, Shanghai Shimao, a wholly-owned subsidiary of Shimao, issued the second series of mid-term notes for 2024, with a amount of CNY 2 billion, unsecured and with a coupon rate of 2.8%, for a term of 3 years, for the repayment of matured notes.