新天地产集团中期报告 2024

(Incorporated in Bermuda with limited liability)(Stock Code: 760) Interim Report2024 MANAGEMENT DISCUSSION AND ANALYSIS管理層之討論及分析 BUSINESS AND FINANCIAL REVIEW Overview The principal activity of Talent Property Group Limited isinvestment holding. The Group engages 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”). (i)(ii)(iii) Revenue and gross profit 170.436.4413.286.5 During the six months ended 30 June 2024 (the “ReportingPeriod”), the Group recorded an unaudited consolidated revenueand gross profit of RMB170.4 million and RMB36.4 million,respectively, as compared to revenue of RMB413.2 million andgross profit of RMB86.5 million for the six months ended 30 June2023 (the “Preceding Period”), respectively. 1,3004,3002,5001,60023,5004,40081.943.915.9102.6237.747.217.912.6 Revenues of RMB81.9 million, RMB43.9 million and RMB15.9million (Preceding Period: RMB102.6 million, RMB237.7 millionand RMB47.2 million) were recognised from the respectivedelivery of properties sold for Guangzhou Xintian Banshan,Xuzhou Linan Intelligent Industrial Park and Yangzhou IntelligenceLiving City of gross floor area of approximately 1,300 squaremeters (“sqm”), 4,300 sqm and 2,500 sqm (Preceding Period:1,600 sqm, 23,500 sqm and 4,400 sqm), respectively. Revenuefrom the sales of other properties was RMB17.9 million (PrecedingPeriod: RMB12.6 million). MANAGEMENT DISCUSSION AND ANALYSIS管理層之討論及分析 851921,3002,4001838 During the Reporting Period, the financing environment inGuangzhou was further in favour of individual home purchasers inthe context of prudent purchasing sentiments. Many developersoffered more incentives for a higher project digestion against theprolonged destocking period, resulting in a decline in averagetransaction prices in some districts. Subscription and contractsales totalling approximately RMB85 million (Preceding Period:RMB192 million) with GFA of approximately 1,300 sqm (PrecedingPeriod: 2,400 sqm) was recorded for Xintian Banshan. Decliningproperty price was more obvious in second tier and third tiercities. Inventory level remains very high and the effect of variousstimulus measures by government are yet to be proved. Thesales recorded in Yangzhou project primarily were the result ofproperty off-setting against cost payable whereas sales recordedfrom Xuzhou was resulted from our effort towards the delivery ofunits pre-sold in previous years. New subscription and contractsales totalling RMB18 million (Preceding Period: RMB38 million)was recorded for these two projects. 6.88.24.04.9 During the Reporting Period, rental market in Guangzhou wasdominant by relocation demand as tenants were highly sensitiveto rental costs. As such, landlords have expanded bargainingrange so as to solicit tenants. Rental income and propertymanagement fee income from our Talent Shoes Trading Centerand other properties of the Group decreased to RMB6.8million (Preceding Period: RMB8.2 million) and RMB4.0 million(Preceding Period: RMB4.9 million), respectively. 36.421.3%86.520.9% After taking into account of the costs from Previous Acquisition,subsequent development cost, the net provision for impairmentloss as well as our pricing and changes in revenue mix, grossprofit decreased to RMB36.4 million while overall gross profitmargin improved slightly to 21.3% (Preceding Period: grossprofit of RMB86.5 million and gross profit margin of 20.9%),respectively. MANAGEMENT DISCUSSION AND ANALYSIS管理層之討論及分析 Distribution costs, administrative and other operatingexpenses 6.93.719.319.2 During the Reporting Period, distribution cost decreased fromRMB6.9 million in the Preceding Period to RMB3.7 million in theReporting Period as a result of significant reduction of sellingactivities. Administrative and other operating expenses remainedsteady at RMB19.3 million (Preceding Period: RMB19.2 million)in the Reporting Period. The Group will stay cautious on costcontrol. Share of result and impairment loss of interest in anassociate 30%70%500 The Linhe Cun Rebuilding project is an old village redevelopmentproject located in the CBD of Tianhe District in Guangzhou andit is adjacent to the Guangzhou East Railway station. The projectis carried out by an associate which is 30% and 70% owned bythe Group and Sun Hung Kai Properties Group, respectively. Allcommercial and residential units were sold and delivered. As atthe Reporting Date, there were approximately 500 car parkingspaces available for sales. The investment and development ofthe project were considered substantially completed. 2.00.3 Share of results of the Associate for the Reporting Period wasRMB2.0 million (Preceding Period: RMB0.3 million). 109948.5 Before the commencement of voluntary winding up of theAssociate, the shareholders of the Associate had concluded andfinalized the