新天地产集团中期报告 2023

(Incorporated in Bermuda with limited liability)(Stock Code: 760) Interim Report2023 CONTENTSManagement Discussion and Analysis2Other Information11Condensed Consolidated Statement of Profit or Loss andOther Comprehensive Income15Condensed Consolidated Statement of Financial Position17Condensed Consolidated Statement of Cash Flows19Condensed Consolidated Statement of Changes in Equity21Notes to the Condensed Consolidated Financial Statements23 MANAGEMENT DISCUSSION AND ANALYSIS管理層之討論及分析 BUSINESS AND FINANCIAL REVIEW Overview (i)(ii)(iii) The principal activity of Talent Property Group Limited isinvestment holding. The Group engage in the businesses of (i)property development, (ii) property investment and (iii) propertymanagement in the PRC since the Group completed theacquisition of equity interests in various real estate projects in thePRC in 2011 (the “Previous Acquisition”). Revenue and gross profit 413.286.5137.053.9 During the six months ended 30 June 2023 (the “ReportingPeriod”), the Group recorded an unaudited consolidated revenueand gross profit of RMB413.2 million and RMB86.5 million,respectively, as compared to revenue of RMB137.0 million andgross profit of RMB53.9 million for the six months ended 30 June2022 (the “Preceding Period”), respectively. 23,500237.747.210.04,4001,200102.6114.21,6001,60012.61.3 During the Reporting Period, we commenced the delivery ofXuzhou Linan Intelligent Industrial Park. As such, a revenue ofRMB237.7 million was recognised from the delivery of pre-soldunits with a gross floor area (“GFA”) of approximately 23,500square meters (“sqm”). A revenue of RMB47.2 million (PrecedingPeriod: RMB10.0 million) with a GFA of approximately 4,400sqm (Preceding Period: 1,200 sqm) was recognized upon salesand delivery of pre-sold units of our Yangzhou IntelligenceLiving City. A revenue of RMB102.6 million (Preceding Period:RMB114.2 million) was recorded from the delivery and sales ofvillas of Xintian Banshan with a GFA of approximately 1,600 sqm(Preceding Period: 1,600 sqm). Revenue from sales of otherproperties was RMB12.6 million (Preceding Period: RMB1.3million). B192452,400800 After the lifting of pandemic control measures by the end of2022, China’s economy was set to rebound with economicactivities and citizens’ mobility picked up. The market sentimentimproved obviously in first quarter of 2023. During the ReportingPeriod, subscription and contract sales totaling approximatelyRMB192 million (Preceding Period: RMB45 million) with GFAof approximately 2,400 sqm (Preceding Period: 800 sqm) wasrecorded for Xintian Banshan at Zone B. MANAGEMENT DISCUSSION AND ANALYSIS管理層之討論及分析 8.27.34.94.2 During the Reporting Period, rental income and propertymanagement fee income from our Talent Shoes Trading Center,a 10-storey complex building located at Zhan Xi Shoe Market,increased to RMB8.2 million (Preceding Period: RMB7.3 million).Whereas rental income and property management fee generatedfrom other properties of the Group was RMB4.9 million in total(Preceding Period: RMB4.2 million). It was the result of returningof tenants. 86.520.9%53.939.4% After taking into account the costs from Previous Acquisition,subsequent development cost, the net provision for impairmentloss as well as our price adjusting strategies and changes inrevenue mix, gross profit increased to RMB86.5 million whileoverall gross profit margin reduced to 20.9% (Preceding Period:RMB53.9 million and gross profit margin of 39.4%), respectively. Distribution costs, administrative and other operatingexpenses 3.36.937.519.2 Distribution cost increased from RMB3.3 million in the PrecedingPeriod to RMB6.9 million in the Reporting Period was primarilythe result of commission expenses arising from contractsales of Xintian Banshan. Administrative and other operatingexpense reduced from RMB37.5 million in the PrecedingPeriod to RMB19.2 million in the Reporting Period. The Groupstayed cautious on cost control and no further provision ofcompensation for late delivery was required. Share of result of an associate 30%70%0.35.1 The Linhe Cun Rebuilding project is an old village redevelopmentproject located in the CBD of Tianhe District in Guangzhouand it is adjacent to the Guangzhou East Railway station. Theproject is carried out by an associate which is 30% and 70%owned by the Group and Sun Hung Kai Properties Group,respectively. Development of the project was completed. All theremaining residential units were substantially sold and deliveredin previous years. During the Reporting Period, increasedrevenue was arrived from the sales of car parking spaces. Aftertaking into account the costs from Previous Acquisition, which isre-calculated to reflect the remaining underlying assets availablefor sale, the Group recorded a share of profit of RMB0.3 million(Preceding Period: share of loss of RMB5.1 million). MANAGEMENT DISCUSSION AND ANALYSIS管理層之討論及分析 Fair value changes on investment properties andprovision for impairment l