In the first half of the seventh year, how did the first settlement of Zhongyuan Jianye achieve business breakthrough?

Due to its advantages of light assets, high profit, and anti -cycle, it is becoming an important track for housing companies. As of the end of 2021, there were 36 real estate companies entering the Circuit of the agency. It is expected that the sales of commercial agency construction in 2030 will be close to 5 trillion yuan. However, from the perspective of the first half of the year, the main construction enterprises have declined.

On August 31, the 2022 mid -term performance report released by the Central Plains Jianye (HK09982, the stock price of HK $ 0.80, and a market value of HK $ 2.632 billion) showed that revenue achieved 378 million yuan in the first half of the year, a year -on -year decrease of 40.4%; net profit was 204 million yuan, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year, year -on -year Fall 43.6%. This is also the first time that Jianye Group has been involved in the construction of the construction business for 7 years.

On the afternoon of September 5, the reporter of "Daily Economic News" learned from the relevant person in charge of Zhongyuan Jianye through the phone that the Central Plains Jianye will increase its layout in the field of government construction in the second half of the year and will strive for a more balanced business structure. The methods including the reconstruction of the old city and the cooperation of urban investment are important directions for the development of government construction in the second half of the year. For example, in Luoyang, Henan this year, it has been communicated in depth with many urban investment companies in Sanmenxia and Luoyang counties, and has reached strategic cooperation with two.

Maintain a high level of profit margin

Judging from the performance of the first half of the year, the scale of revenue, net profit, and new agency projects of Zhongyuan Jianye declined significantly compared with the same period last year.

According to data from the semi -annual report, the Central Plains Jianye achieved revenue of 378 million yuan in the first half of the year, a year -on -year decrease of 40.4%; net profit was 204 million yuan, a decrease of 43.6%year -on -year; 9 new construction projects were added in the first half of the year, a year -on -year decrease of 82.7%; new increases; new increases The contract area was 1.1.7 million square meters, a year -on -year decrease of 80.5%.

In terms of overall business operations, as of June 30, Central Plains Jianye has 266 projects in the management project with a pipe area of ​​31.41 million square meters, of which 241 projects are located in Henan Province, accounting for 90.6%.

"Daily Economic News" reporter reviewed the past financial report and found that from 2019 to 2022, the revenue of the Central Plains Jianye in the first half of the year was 412 million yuan, 481 million yuan, 635 million yuan, and 378 million yuan; net profit was 256 million, respectively. Yuan, 302 million yuan, 362 million yuan and 204 million yuan.

Although the performance of the Jianye of the Central Plains in the first half of this year has declined significantly, its overall net profit margin reached 54%, which is much higher than the 29%net profit margin of Greentown Management of Green City, the leading enterprise of the agency.

The reason why Zhongyuan Jianye can maintain a high profit margin on the one hand is that its core business is commercial construction, and the profit margin of commercial agencies is usually higher than that of government construction. In addition, the expenditure of the personnel of the Zhongyuan Jianye project company in the model usually pays directly by the project owner, reducing operating expenses. Greentown management is divided into two categories: self -operating and cooperation, and the profit has been diluted to a certain extent.

The Central Plains Jianye executives have previously explained the reason for the high profit margin of the Central Plains Jianye's high profit margin in an interview with the reporter of the Daily Economic News. However, the specific expenses of the project, such as designers and financial personnel, are not included. This part of the expenses cannot be borne by Zhongyuan Jianye. Some agency projects managed by Greentown actually occupy a part of the shares. When calculating pure income, you must remove various human costs and project expenses related to projects.

In the first half of the year, in the cost structure of Jianye Zhongyuan, it mainly includes two types of personnel costs and other operating expenses. Among them, a large type of cost is human cost and service cost. During the reporting period, the labor cost of the Central Plains Jianye was 69.5 million yuan, and other operating expenses were 32.5 million yuan.

It will expand the scale of foreign business

In the second half of the year, the Central Plains Jianye predicted in the interim report that with the economic recovery and the effects of various real estate policies, it is believed that the policy side will remain better and the consumer will continue to warm up.

Zhongyuan Jianye will continue to improve its core competitiveness, further expand the scale of foreign business outside the province, increase the share of the national construction market, and at the same time will strengthen the research on business models, increase government agencies, capital construction, and problem projects. The implementation of the business to promote the diversified development of the business.

According to the reporter's understanding, the Central Plains Jianye has signed a strategic cooperation agreement with 12 companies such as Sanmenxia in the first half of the year, covering 10 cities in Henan Province, and at the same time reached a strategic cooperation intention with 8 state -owned enterprises. It has successfully implemented a management consulting project.

There are two significant characteristics of the business of Zhongyuan Jianye: one is to deeply cultivate Henan, and the other is that the business is mainly commercial construction.

According to the data of the semi -annual report, during the period, the Central Plains Jianye has 266 in the management project, and the construction area of ​​the management project is 31.41 million square meters. Among them 25, the total construction area is 2.65 million square meters. As of the end of 2021, the proportion of project contribution revenue in Henan Province accounted for 96.6%of the total revenue.

In the semi -annual report, Zhongyuan Jianye did not mention the proportion of the service income of various generations of service revenue such as commercial construction, government construction, capital construction, and other services. However, the reporter of "Daily Economic News" inquired about the previous annual report and found that the income of Zhongyuan Jianye basically comes from the construction service. Most of the agency projects are residential projects. project.

From the perspective of the profit model, Zhongyuan Jianye mainly establishes an agreement with the project owner to provide agency construction services and allow project owners to use the "Jianye" brand sales to charge basic management service fees and premium management service fees.As of the end of the reporting period, the total assets of Zhongyuan Jianye were 2.724 billion yuan, the total liabilities were 468 million yuan, the asset -liability ratio was 17.17%, and the balance of monetary funds was 2.045 billion yuan.

Daily Economic News

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