Yuexiu Property faced multiple economic challenges in the first half of 2024, including inflation, high interest rates, and geopolitical factors, but China's economy as a whole remained stable. The real estate market rebounded with policy support, but the overall market is still adjusting. Yuexiu Property achieved revenue of approximately RMB 35.34 billion in the first half of the year, a year-on-year increase of 10.1%. The gross margin was about 13.7%, a year-on-year decrease of 4.1 percentage points. Equity holders' share of profit was approximately RMB 1.83 billion, a year-on-year decrease of 15.9%. Core net profit was approximately RMB 1.74 billion, a year-on-year decrease of 18.8%. The amount of sold but not yet recognized sales was RMB 190.91 billion, a decrease of...Show More

Yuexiu Property faced multiple economic challenges in the first half of 2024, including inflation, high interest rates, and geopolitical factors, but China's economy as a whole remained stable. The real estate market rebounded with policy support, but the overall market is still adjusting. Yuexiu Property achieved revenue of approximately RMB 35.34 billion in the first half of the year, a year-on-year increase of 10.1%. The gross margin was about 13.7%, a year-on-year decrease of 4.1 percentage points. Equity holders' share of profit was approximately RMB 1.83 billion, a year-on-year decrease of 15.9%. Core net profit was approximately RMB 1.74 billion, a year-on-year decrease of 18.8%. The amount of sold but not yet recognized sales was RMB 190.91 billion, a decrease of 4.2% from the beginning of the year. The Board of Directors declared a mid-term dividend of HK$0.189 per share. Contracted sales decreased by 33.8% year-on-year, but the group's leading position in the Greater Bay Area market remains unchanged. New land reserves of approximately 1.72 million square meters were added in the first half of the year through diversified acquisition modes. The group maintains financial health, ample liquidity, and continues to meet the "three red lines" indicators, remaining in the "green zone."