Xincheng Holdings was 76.03 billion yuan in the first half of the year, and the surrounding area has been sold for 34.689 million square meters.

On August 30, Xincheng Holdings (601155.SH) disclosed the semi -annual report of 2022. Under the challenging industry situation, relying on the strategic advantages of the "residential+commercial" double -wheel drive, Xincheng Holdings ’overall operations highlight the toughness and stability.

In the first half of 2022, Xincheng Holdings achieved operating income of 42.803 billion yuan, and its net profit attributable to shareholders of listed companies was 3.01 billion yuan, and net profit of non -deductible mother was 2.562 billion yuan. The company's total assets reached 514.883 billion yuan, and the net assets attributable to shareholders of listed companies were 61.699 billion yuan. As of the end of the reporting period, Xincheng Holdings has sold an unconventional area of ​​34.6892 million square meters, locking in future performance settlement in advance.

In 2022, Xincheng Holdings insisted on the "weight -and -punching" two -wheel drive 2.0 strategy, which was operating steadily around "returning sales, profit -making growth, quality products and services". The company adheres to financial discipline and maintains a stable and safe financial fundamentals. The semi -annual report shows that the "three red lines" of Xincheng Holdings are steadily green stalls, operating cash flow, and achieved continuous optimization of debt structure.

In the first half of the year, Xincheng Holdings achieved a contract sales amount of 65.16 billion yuan, with a cumulative sales area of ​​about 6.572 million square meters. The company focused on the safety of cash flow and insisted on "sales of repayments and sales of collection". In the first half of the year, the amount of repayment reached 76.030 billion yuan, with a repayment rate of 117%. In addition, the company's overall gross profit margin increased by 2.29 percentage points from the same period last year to 21.90%.

At the same time, Xincheng Holdings actively responded to the requirements of the relevant departments "to keep the building and stabilize the people's livelihood" and implemented the responsibility of the enterprise. In the first half of the year, nearly 40,000 sets of properties were organized. It is planned to start 67 new projects in the second half of the year. 10,000 square meters, among them, residential projects are 4.047 million square meters and 2.1997 million square meters of commercial complex projects. It is planned to complete 148 sub -projects and achieve a completion area of ​​17.628 million square meters, of which 9.516 million square meters of residential projects and 811.64 million square meters of commercial complex projects.

As of the end of June 2022, the total land reserve of Xincheng Holdings reached 131 million square meters, of which first and second -tier cities accounted for about 37.05%of the company's total land reserves, and the third and fourth -tier cities in the Yangtze River Delta accounted for about 29.46%of the company's total land reserves.

The two -wheel drive release potential, with total business income in the first half of the year 4.718 billion

At the time of the industry's in -depth adjustment, the new city holding of the "residential+commercial" double -wheel drive strategy shows unique advantages.

Xincheng Holdings has penetrated into the dived commercial sector, continuously increases the contribution of commercial income to the company, and the proportion of commercial management business has continued to increase. The semi -annual report shows that in the first half of this year, Xincheng Holdings achieved total commercial operation revenue of 4.718 billion, an increase of 19.8%year -on -year. As of the end of the reporting period, the opening area of ​​Wuyue Plaza reached 11.8906 million square meters, with a rental rate of 96.01%. In the first half of the year, the company realized the revenue of taxes and management income of 4.379 billion yuan, accounting for 10.23%of the company's operating income; the gross profit of property rental and management business was 3.162 billion yuan, accounting for the company's total gross profit from 16.56%in the same period last year to 33.74%; Property rental and management gross profit margins increased to 72.22%with the number and quality of Wuyue Square.

Analysts pointed out that in the context of the general decline in industry gross profit in the industry, the commercial layout of Xincheng Holdings will help the company's overall gross profit margin to maintain a considerable level and resist the risk of downward gross margins.

The semi -annual report shows that the continuous operating income of the new city holding business in the first half of the year continued to significantly exceed the current interest expenses, about 145.70%.

As of August 25, Wuyue Plaza, which has been opened and managed and exported by Xincheng Holdings, has reached a total of 132. The number of openings has ranked first in domestic and foreign listed companies. , Stain in 137 cities across the country.

In the second half of this year, Wuyue Square will usher in a concentrated opening period. Despite many challenges such as public health prevention and control, Xincheng Holdings stated that he has the confidence to complete the annual goal of "25 seats for newly opened Wuyue Plaza and realize 10.5 billion yuan in commercial operations".

In hand cash 44.782 billion, the "three red lines" ranked steadily in the green stall

For a long time, Xincheng Holdings has maintained a stable and safe financial fundamental fundamental fundamental aspect, ensured the safety of cash flow, and continued to optimize the debt structure.

The semi -annual report shows that the company actively responds to the "three red lines" policy and has strong and effective preventive risks. At the end of the reporting period, all the company's indicators meet the green file requirements. As of the end of the report, Xincheng Holdings was 44.782 billion yuan in hand in hand, according to the regulatory caliber non -limited cash short debt ratio of 1.06 times; the net debt ratio was 48.37%, a year -on -year decrease of 12.11 percentage points; The debt ratio was 67.06%, a year -on -year decrease of 8.39 percentage points; if the currency funds were directly based on the debt of the short -term financial institution, the cash short debt ratio was 1.75 times. The company's operating cash flow was 11.503 billion yuan, which was -7.572 billion yuan in the same period last year. The average financing cost was 6.50%, a decrease of 0.1 percentage points compared with the same period last year.

Xincheng Holdings continued to control interest -bearing debt reasonably. As of the end of June 2022, the company had interest liabilities of 82.2 billion yuan, a year -on -year decrease of 19.16 billion yuan, a decrease of 7.667 billion yuan from the end of 2021. In addition, in March of this year, New City Holdings disclosed for the first time in the annual report that its joint venture has interest liabilities, and its financial transparency and security are guaranteed. According to the semi -annual report, as of June 30, 2022, the interest liabilities of Xincheng Holdings joint associations were 9.144 billion yuan, which was 2.369 billion yuan from 11.513 billion at the end of last year. With the increasing difficulty of financing in the industry, Xincheng Holdings recognized by regulatory agencies and capital markets has continued to break through on the financing side.

As the first batch of demonstration housing enterprises for credit protection contract issuance, Xincheng Holdings succeeded in the first phase of the first phase of 2022 on May 30, and the issuance scale was 1 billion yuan. This is also the first single -housing credit risk slow release certificate launched by banks.

On May 31, Xincheng Holdings's foreign subsidiaries New City's global issuance amount was $ 100 million in priority green bills. On the occasion of the U.S. dollar bond market overseas, the US dollar bond issuance is the first US dollar bond to increase credit increases since this year. This ice breaking move will also effectively boost market confidence.

In addition, on July 22, Xincheng Holdings issued an announcement that the public issuance of corporate bonds was approved, and the total amount of issuance was not more than 6.172 billion.

With the two -wheel drive strategy, the operating property loan of Wuyue Plaza has also become the highlight of the financing of Xincheng Holdings, which has the advantages of "long financing period and security security". Since the beginning of this year, with the good operation of the commercial sector, Xincheng Holdings has increased the progress of operating property loans. In the first August this year, nearly 20 openings have been opened. Get financing 6.2 billion.

Adhere to the bottom line of thinking and show the confidence of long -term development

Based on a safe and controllable financial structure, Xincheng Holdings adheres to the bottom line of thinking in terms of debt repayment. According to the expiration of funds and debt, it will make a corresponding discharge to ensure that each debt expires. And long -term development confidence.

On August 4th, for a $ 200 million US dollar debt that expired on August 8, 2022, the company remitted the principal and interest to the trustworthy account designated account and paid on time on time. At this point, Xincheng Holdings has accumulated 3 years of repayment this year, totaling $ 700 million in debt, and has not expired US dollar bonds during the year. In 2022, the public market debt of Xincheng Holdings was 12.6 billion yuan, and from January to August, it had expired or repaid approximately 10.3 billion yuan in advance.

On the other hand, in the face of a complex external environment, Xincheng Holdings has taken multiple measures and promoted the development of the company, safeguarded the interests of investors, and showed sufficient confidence. In June, Xincheng Holdings issued an announcement that based on the recognition, development prospects and strategic planning of the company, in order to enhance investor confidence, actively maintain the stability of the company's bond prices, in order to better support the company's continuous and stable future in the future , Healthy development, some directors and senior management personnel of the company purchased durable corporate bonds in the secondary market in a market -oriented manner. As of June 20, a total of 12.2429 million yuan in corporate bonds had been purchased in the secondary market.

This year, Xincheng Holdings also plans to repurchase company shares for no more than 200 million yuan. As of the end of July, the company has accumulated a total of 2.38 million shares, and the total amount has paid 49.336 million yuan. In the future, the repurchase will be selected within the repurchase period according to the retrospective plan and the market situation.

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