GLONGHUI 8/24 丨 Beijing Beichen Industrial Co., Ltd. (00588.HK) announced,In the 2023 interim results, the Group achieved revenue of RMB 7.269 billion, an increase of 6.26% over the same period last year. Profit attributable to common shareholders of the company was RMB 133 million, turning a loss into a profit, an increase of RMB 666 million over the same period last year.Earnings per share were attributable to the company at RMB 3.95.
In the first half of 2023, the company adhered to a steady business strategy and focused on enhancing the resilience of the real estate development business to risks. The settlement area of the real estate development sector increased, achieving revenue of RMB 599.742 million (including parking spaces), an increase of 1.92% over the previous year; profit before tax was RMB 155.932 million, and the profit level rose steadily. By the end of the reporting period, the company had entered 15 cities, achieving a total land reserve of 4.610,500 square meters. The reporting period achieved a new construction area of 236,400 square meters, a resumed work area of 3,0551,700 square meters, and a completed area of 676,600 square meters.
Actively research policies and market trends, formulate targeted strategies based on the characteristics of each city, and continuously maintain top sales in the regional market for multiple projects. Among them, the Chengdu Beichen Lumingyuan project focuses on the market window period, quickly uses channel distribution and national partnership models, and uses quality existing housing drainage to basically achieve residential liquidation; Chongqing Beichen Yuelai 1 and Chongqing Beichen Xianglu are linked to comprehensively coordinate supply products, mutually guide customers, and drive overall sales with core products, making it the first popular project in the region. The Guangzhou Jindi Beichen Lanting Xianglu Project closely grasped the market recovery and homecoming real estate window, fully mobilized channel enthusiasm, achieved sales breakthroughs, and completed the annual contract tasks ahead of schedule. During the reporting period, the realized contract sales amount and sales area were RMB 3,911 billion (including parking spaces) and 26.1 million square meters, respectively.
The company scientifically analyzes project operating indicators and development plan node completion status, monitors deviations in real time, provides timely warning, strives to speed up inventory removal and cash repayment, and achieve rapid turnover. At the same time, we respond positively to the policy requirements of securing buildings, protecting people's livelihood, and maintaining stability, making every effort to ensure the normal progress of project construction and ensure the smooth completion of major carry-over profit projects during the year. Five projects were completed on schedule in the first half of the year, and a total of more than 1,200 units were delivered.