新城发展2025 中期报告

Seazen Group Limited 分享喜悅不負懷情 CONTENTS •53Condensed Consolidated Statementof Comprehensive Income•54Condensed Consolidated Statementof Changes in Equity•56Condensed Consolidated Statementof Cash Flows•58Notes to the Condensed ConsolidatedInterim Financial Statements 2Corporate Information 5Breakdown of Major Properties 26Management Discussion and Analysis Other Information 41 Condensed Consolidated Interim FinancialStatements •50Condensed Consolidated Statementof Financial Position •52Condensed Consolidated Statementof Profit or Loss Corporate Information BOARD OF DIRECTORS Executive Directors 20254 1 Mr. Lv Xiaoping(Chief Executive Officer)Mr. Lu ZhongmingMr. Zhou Fudong(appointed on 1 April 2025) Non-executive Directors Mr. Wang Xiaosong(Chairman)Mr. Zhang Shengman(resigned on 1 April 2025) 20254 1 Independent Non-executive Directors Mr. Zhu ZengjinMr. Zhong WeiMs. Wu Ke AUDIT COMMITTEE Ms. Wu Ke(Chairman)Mr. Zhu ZengjinMr. Zhong Wei REMUNERATION COMMITTEE Mr. Zhu Zengjin(Chairman)Mr. Zhong WeiMs. Wu Ke NOMINATION COMMITTEE Mr. Zhu Zengjin(Chairman)Mr. Lu ZhongmingMs. Wu Ke(appointed on 1 April 2025)Mr. Zhong Wei(ceased on 1 April 2025) 20254 120254 1 ESG ESG COMMITTEE 20254 120254 1 Mr. Wang Xiaosong(Chairman)Mr. Lv XiaopingMr. Lu ZhongmingMr. Zhou Fudong(appointed on 1 April 2025)Mr. Zhang Shengman(resigned on 1 April 2025) Corporate Information JOINT COMPANY SECRETARIES Ms. Zhang WanlingMs. Ng Sau Mei www.seazengroup.com.cn COMPANY’S WEBSITE www.seazengroup.com.cn AUTHORISED REPRESENTATIVES 3101006-1008 Mr. Lu ZhongmingSuites 1006-1008, 10/FICBC Tower3 Garden Road, CentralHong Kong Ms. Ng Sau Mei31/F, Tower TwoTimes Square1 Matheson Street, Causeway BayHong Kong 131 REGISTERED OFFICE Grand PavilionHibiscus Way802 West Bay RoadP.O. Box 31119KY1-1205, Cayman Islands Grand PavilionHibiscus Way802 West Bay RoadP.O. Box 31119KY1-1205, Cayman Islands HEAD OFFICE 3886A15 15/F, Seazen Holdings Tower ANo. 6, Lane 388, Zhongjiang Road, Putuo DistrictShanghaiPRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 31/F, Tower TwoTimes Square1 Matheson Street, Causeway BayHong Kong 131 Corporate Information LEGAL ADVISERS As to Hong Kong law Jingtian & Gongcheng LLP As to Cayman Islands law Maples and Calder Maples and Calder AUDITOR 2811 Grant Thornton Hong Kong LimitedCertified Public AccountantsRegistered Public Interest Entity Auditor11/F, Lee Garden Two, 28 Yun Ping RoadCauseway BayHong Kong HONG KONG SHARE REGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 1617 PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands Maples Fund Services (Cayman) LimitedP.O. Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands LISTING INFORMATION Hong Kong Stock Code: 1030 1030 Breakdown of Major Properties Breakdown of Major Properties Management Discussion and Analysis REVIEW AND PROSPECTS In 2025, amidst ongoing policy adjustments and regulations, theChina’s real estate market is steadily moving towards stable and healthydevelopment. Since the second quarter of 2025, policy implementationhas been accelerated. Under a relaxing financial environment for thereal estate industry, many local governments have, in response to therequirements of the central government for market stabilisation, frequentlyissued announcements on acquisition of land through special bonds,introduced various policies to promote consumption, and further easedadministrative regulations in order to further release of the demand forboth rigid and improved housing. 20252025 + With the dual-drive strategy of “property development + commercialoperations”, Seazen Group Limited (the "Company" or "Seazen") andits subsidiaries (collectively referred to as "Group" or "Seazen Group")further leverages its strengths to demonstrate robust operationalresilience, seeking new opportunities amidst changes and creating newchapter against challenges. In the first half of 2025, the Company recorded a stable increase inmanagement of commercial complexes, with total commercial operatingincome of RMB6.944 billion, representing an increase of 11.8% year-on-year. As of the end of June 2025, 174 Wuyue Plazas were in operationnationwide. On 27 June 2025, Changzhou Wujin Wuyue Plaza (), the first “Golden Standard” project of the Company, wasgrandly re-opened, setting a new benchmark for urban commercialdevelopment. 202569.4411.8%202561742025627 In respect of its property development business, the Company alwaysadheres to the operational strategy of “mitigating risks, preserving value,and optimizing structure ()”. In the first half of2025, the Group successfully delivered more than 16,000 high qualityproperties nationwide, concretely demonstrating its commitment to socialresponsibilities. With volume-price balance and cost control measures,the Co