五矿地产二零二四年中期报告

(Incorporated in Bermuda with limited liability)Stock Code230 關 於 五 礦 地 產ABOUTMINMETALS LAND Minmetals Land Limited is a subsidiary and the sole listed real estate flagship of China Minmetals Corporation in HongKong. Minmetals Land Limited’s principal business includes real estate development, specialisedconstruction and property investment. Currently, its real estate development business coversthe Pan Bohai Rim, Yangtze River Delta, Central China Region, Chengdu-Chongqing Region andPearl River Delta (including Hong Kong). 目 錄Contents Independent Review Report40 Interim CondensedConsolidated FinancialStatements42 Glossary of Terms82 About China MinmetalsCorporation84 公 司 資 料CORPORATE INFORMATION — EXECUTIVE DIRECTORSMr. He Jianbo — Chairman ——— Mr. Liu Bo — Managing DirectorMr. Chen Xingwu — Deputy Managing DirectorMr. Yang Shangping — Deputy Managing Director NONEXECUTIVE DIRECTORSMs. He XiaoliMr. Huang Guoping INDEPENDENT NONEXECUTIVE DIRECTORSMr. Lam Chung Lun, BillyMs. Law Fan Chiu Fun, FannyProfessor Wang Xiuli COMPANY SECRETARYMr. Yiu Yu Cheung (appointed on 14 June 2024)Mr. Cheng Ka Hang, Francis (resigned on 14 June 2024) LEGAL ADVISORNorton Rose Fulbright Hong Kong 97927 INDEPENDENT AUDITORErnst & Young Certified Public AccountantsRegistered Public Interest Entity Auditor27th Floor, One Taikoo Place,979 King’s Road, Quarry Bay, Hong Kong PRINCIPAL BANKERSAgricultural Bank of China Limited Bank of China (Hong Kong) LimitedBank of Communications Company, LimitedChina Construction Bank CorporationChong Hing Bank LimitedCMB Wing Lung Bank LimitedChina Zheshang Bank Company, LimitedIndustrial and Commercial Bank of China (Asia) LimitedIndustrial Bank Company, Limited 1831717121716 BRANCH SHARE REGISTRARComputershare Hong Kong Investor Services Limited Shops 1712–1716,17th Floor, Hopewell Centre,183 Queen’s Road East,Hong Kong Victoria Place,5th Floor, 31 Victoria Street,Hamilton HM 10,Bermuda REGISTERED OFFICEVictoria Place, 5th Floor, 31 Victoria Street,Hamilton HM 10,Bermuda PRINCIPAL PLACE OF BUSINESS INHONG KONG18th Floor, China Minmetals Tower, 79182613 63632581 9823info@minmetalsland.com 79 Chatham Road South, Tsimshatsui,Kowloon, Hong KongTel: 2613 6363Fax: 2581 9823Email : info@minmetalsland.com http://www.minmetalsland.com WEBSITEhttp://www.minmetalsland.com 財 務 摘 要FINANCIAL HIGHLIGHTS GROUP P ROPERTIES集 團 物 業 GROUP P ROPERTIES集 團 物 業 GROUP P ROPERTIES集 團 物 業 GROUP P ROPERTIES集 團 物 業 MAJOR INVESTMENT PROPERTIES 管 理 層 討 論 及 分 析MANAGEMENT DISCUSSION AND ANALYSIS OPERATION REVIEWOverviewSince the second half of 2020, the real estate market has experienced a 39.8%50.2310.5010.4411.593.98 downward spiral for four years, with negative growth in real estateinvestmentlasting for over two years and risks for real estateenterprises arising one after another. The continued downturn of therealestate market has not only dragged down investment andconsumption, but also affected residents’ employment and income, aswellas their expectations and confidence in investment andpurchasing property. Despite the successive introduction of housingsupport policies since 2023, the release of housing demand continuedat a slow pace, and the real estate market continued its downturntrend in the first half of 2024. Against this background, the Group’srevenue for the period decreased by 39.8% to HK$5,023 million ascompared to the corresponding period last year, turning profit into loss;the loss for the period was HK$1,050 million and the loss attributable toequity holders was HK$1,044 million. Core loss attributable to equityholders of the Company1 was HK$159 million (30 June 2023: Coreprofitattributable to equity holders of the Company was HK$398million). Note: 1 1.“Core loss/profit attributable to equity holders of the Company” excludes allowancefor impairment of inventories, share of impairment of inventories of associates andjoint ventures, exchange loss/gain, fair value changes of investment properties andallowance/reversal for impairment of receivables and other receivables. Market Review 47,13312.5%47,91619.0%52,52910.1%696,81812.0% In the first half of 2024, the overall performance of the real estatemarketwas sluggish,with both sales in new properties and theirdevelopment and construction experiencing a decline. The Politburomeeting and the State Council executive meeting have repeatedlyproposed policies to stabilise the market and to destock, however, theoverallreal estate market continued to face greater downwardpressure. According to the data published by the National Bureau ofStatistics(“NBS”),national commercial housing sales decreased by12.5% year-on-year to RMB4,713.3 billion from January to June 2024,while the commercial housing sales by floor area decreased by 19.0%year-on-year to 479.16 million square meters. Housing constructionactivities slowed down across the board as a result of insufficientfunding and declining expectations. According to the data publis