Core ideas:

Zhongnan Construction is driven by real estate + construction double-wheel business, with steady growth in contract sales and operating income in the first half of the year, while taking the initiative to reduce liabilities and optimize financial structure under policy regulation, and the three red line indicators have been improved. In the future, the construction of Central and South China will be deeply ploughed in the Yangtze River Delta and Shandong, and will take root around the advantageous cities in the central and western regions and the Pearl River Delta, so as to continuously improve the quality of management and achieve high-quality growth.