众安集团2025 中期报告

Pages頁次 公司資料2 主席報告4 管理層討論與分析11 持作發展及╱或銷售的物業74 財務資料概要84 Corporate Information公司資料 BOARD OF DIRECTORS 董事會 執行董事施中安先生（主席）張堅鋼先生（首席執行官）金妮女士施金帆女士沈佳陽先生 Mr Shi Zhongan(Chairman)Mr Zhang Jiangang(Chief Executive Officer)Ms Jin NiMs Shi JinfanMr Shen Jiayang 獨立非執行董事貝克偉教授張化橋先生馮志偉先生 Independent Non-executive DirectorsProfessor Pei Ker WeiMr Zhang HuaqiaoMr Fung Che Wai Anthony COMPANY SECRETARYMr Pang Heung Fai 註冊辦事處Cricket Square Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands REGISTERED OFFICECricket Square Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 中國總辦事處中國浙江省杭州蕭山區蕭紹路996號 HEAD OFFICE IN THE PRC No. 996, Xiaoshao RoadXiaoshan DistrictHangzhouZhejiang Provincethe PRC 香港主要營業地點 PRINCIPAL PLACE OF BUSINESS IN HONG KONG Room 4009, 40/FChina Resources Building26 Harbour RoadWanchaiHong Kong 香港灣仔港灣道26號華潤大廈40樓4009室 公司網址www.zhongangrouphk.com COMPANY’S WEBSITEwww.zhongangrouphk.com 主要股份過戶登記處 PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Suntera (Cayman) LimitedSuite 3204, Unit 2A,Block 3, Building D,P.O. Box 1586,Gardenia Count, Camana Bay,Grand Cayman KY1-1110Cayman Islands Suntera (Cayman) LimitedSuite 3204, Unit 2A,Block 3, Building D,P.O. Box 1586,Gardenia Count, Camana Bay,Grand Cayman KY1-1110Cayman Islands 香港股份過戶登記分處 HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 卓佳證券登記有限公司香港夏慤道16號遠東金融中心17樓 Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong 主要往來銀行中國農業銀行中國工商銀行平安銀行中國銀行浙商銀行 PRINCIPAL BANKERS Agricultural Bank of ChinaIndustrial and Commercial Bank of ChinaPing An BankBank of ChinaChina Zheshang Bank AUDITORS 核數師 安永會計師事務所執業會計師註冊公眾利益實體核數師香港鰂魚涌英皇道979號太古坊一座27樓 Ernst & YoungCertified Public AccountantsRegistered Public Interest Entity Auditor27/F, One Taikoo Place979 King’s RoadQuarry BayHong Kong 投資者關係資本市場部電郵：ir@zafc.com電話：(852) 2877 6991傳真：(852) 2877 6990 INVESTOR RELATIONS Capital Markets DepartmentEmail:ir@zafc.comTelephone:(852) 2877 6991Facsimile:(852) 2877 6990 Chairman’s Statement主席報告 致各位股東： Dear Shareholders, 本人謹代表眾安集團有限公司（「眾安」或「本公司」）連同其附屬公司（統稱「本集團」），欣然提呈本集團截至2025年6月30日止六個月期間（「回顧期」）之中期業績。 On behalf of Zhong An Group Limited (“Zhong An” or the “Company”) andits subsidiaries (collectively, the “Group”), I am pleased to present the interimresults of the Group for the six months ended 30 June 2025 (the “Periodunder review”). 業績回顧 REVIEW OF RESULTS 於 回 顧 期 內，本 集 團 的 營 業 額 約 為 人 民幣6,558.7百 萬 元，較2024年 同 期 下 降 約29.3%；毛 利 約 為 人 民 幣688.7百 萬 元，較2024年同期下降約62.4%。未經審核的利潤約為人民幣90.7百萬元，較2024年同期下降約23.0%；未經審核每股盈利為人民幣1.15分（2024年同期每股盈利：人民幣1.11分）。本公司董事會（「董事會」）不建議派發回顧期任何中期利息（2024年：無）。 Duringthe Period under review,the Group recorded revenue ofapproximately RMB6,558.7 million, representing a decrease of approximately29.3%compared with the corresponding period in 2024;the grossprofit was approximately RMB688.7 million, representing a decrease ofapproximately 62.4% compared with the corresponding period in 2024.Unaudited profit amounted to approximately RMB90.7 million, representing adecrease of approximately 23.0% compared with the corresponding periodin 2024. The unaudited earnings per share was RMB1.15 cents (earnings pershare for the corresponding period in 2024: RMB1.11 cents). The board ofdirectors of the Company (the “Board”) does not recommend the payment ofany interim dividend for the Period under review (2024: Nil). Chairman’s Statement(Continued)主席報告（續） 市場及業務回顧 MARKET AND BUSINESS REVIEW 2025年上半年，國際環境複雜多變，國際經貿秩序遭遇衝擊與挑戰，不穩定性、不確定性 明 顯 增 加。中 國 經 濟 通 過 實 施 更 加 積 極有為的宏觀政策，保持了穩中有進、穩中向好的發展態勢。中央及地方政府「因城施策」出臺相關措施，推動房地產市場止跌回穩。市 場 表 現 雖 有 波 動，但 總 體 呈 現 止 跌 回 穩態勢。 In the first half of 2025, the international environment was complex andvolatile, with the international economic and trade order facing shocks andchallenges, leading to significantly increased instability and uncertainty.The Chinese economy maintained a development trend characterized bystable growth with continuous improvement through the implementationof more proactive and effective macroeconomic policies. Central and localgovernments introduced relevant measures featuring “policy tailored foreach city” to arrest the decline and stabilize the real estate market. Althoughmarket performance experienced fluctuations, it generally showed a trend ofstabilizing after the decline. 回顧期內，本集團共有超過40個項目在售，主要位於長三角的多個城市。本集團分別錄得合約銷售金額約為人民幣1,973.3百萬元及確認銷售金額約人民幣6,159.5百萬元。儘管2025年上半年樓市復甦動力不足，但隨著中央及地方更大力度推動房地產市場止跌回穩，預計購房者信心和預期會逐步得到修復，2025年下半年的銷售有望逐步回暖。 During the Period under review, the Group had over 40 projects available forsale, mostly located in several cities in the Yangtze River Delta. The Grouprecorded contracted sales amount of approximately RMB1,973.3 millionand recognized sales revenue of approximately RMB6,159.5 million. Despiteinsufficient momentum in the recovery of the property market in the first halfof 2025, as central and local governments intensify efforts to stabilize themarket, homebuyer confidence and expectations are expected to graduallyrecover, a