world union bank's revenue and net profit both fell in the first half of the year, and "surviving and maintaining profitability" became the core theme
2024-08-30
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on august 28, shenzhen world union group co., ltd. (world union, 002285.sz) released its 2024 semi-annual report.
during the reporting period, world union bank achieved operating income of 1.2158 billion yuan, a year-on-year decrease of 37.00%; net profit attributable to shareholders of listed companies was 15.1842 million yuan, a year-on-year decrease of 47.65%. as of the end of the period, world union bank held 1.124 billion yuan in monetary funds, a decrease of 7.34% from the end of the previous year, mainly due to the repayment of a net bank loan of 129.3 million yuan and the purchase of large-denomination certificates of deposit of 210.171 million yuan; the company's asset-liability ratio was 37.51%, a year-on-year decrease of 8.07 percentage points.
regarding the large decline in revenue and profit, world union bank stated that due to the company's shutdown, merger and transfer strategy and the real estate market, the revenue from large transaction services fell by 46.10% year-on-year, affecting the profit of this period. at the same time, the net amount of loan recovery and lending in the financial services business decreased by 139 million yuan year-on-year, which was reflected in the net cash flow from operating activities, which decreased by 345.8 million yuan to -121 million yuan. as of the end of the reporting period, the loan balance of the financial business was 134 million yuan, a year-on-year decrease of 29.04%.
the main businesses of savills include large transactions and large asset management. the large transaction business mainly provides marketing-related services to developers in the real estate sales process.
according to cric data, the top 100 real estate developers achieved sales of 1,851.83 billion yuan in the first half of 2024, a year-on-year decrease of 39.5%. savills said that with the shrinking market and the extreme control of developers' costs, "survival and profitability" has become the core theme of the large transaction business. the large transaction business achieved operating income of 711.2157 million yuan, a year-on-year decrease of 46.10%.
among them, the comprehensive marketing business income was 271.6 million yuan, a year-on-year decrease of 48.68%. due to the increase in the proportion of comprehensive marketing service projects (agents + channels), the average comprehensive sales rate increased by 0.02 percentage points compared with the same period last year.
at present, the cumulative realized but unsettled sales of savills is approximately rmb 157.9 billion, which will bring the company approximately rmb 1.08 billion in comprehensive marketing service income in the next 3 to 9 months; of which the unsettled sales belonging to the company's 100%-controlled subsidiaries are approximately rmb 130.9 billion, which will bring the company approximately rmb 865 million in comprehensive sales service income in the next 3 to 9 months; the remaining part is the unsettled agency sales and unsettled comprehensive sales service income attributable to shandong savills, xiamen lidanxing, qingdao rong real estate, savills precision, etc.
the semi-annual report shows that in the first half of the year, under the guidance of savills' "accounts receivable task force", the regional accounts receivable collection team focused on key and difficult projects, adopted enhanced measures such as litigation and mortgage, accelerated the recovery of long-age accounts receivable, and effectively reduced the adverse impact of bad debts on the company.
the large asset management business mainly includes property and comprehensive facilities management business, investment promotion and space operation business, and consulting and advisory business.
savills focuses on three areas: comprehensive facility management of enterprise-owned industrial and office properties (industrial parks and commercial and office buildings), asset operation management of leased industrial and office properties, and operation management of leased affordable talent apartments. during the reporting period, affected by factors such as the optimization and disposal of existing operating projects and the market, the large asset management business achieved operating income of 494 million yuan, a year-on-year decrease of 14.94%.
as of the end of the reporting period, savills' property and integrated facilities management business actually managed 110 fully entrusted projects, an increase of 4 year-on-year; the actual charging area of the managed projects was 9.55 million square meters, a net increase of approximately 1.79 million square meters year-on-year.
savills said that in the first half of the year, the space operation business disposed of two loss-making projects and basically cleared the asset business. in the operation of existing projects, for areas where leasing is difficult, timely adjust market strategies, pricing and discounts, formulate personalized incentive mechanisms, and improve occupancy rates. in addition to targeted leasing projects, the overall occupancy rate of hongpu apartment reached 90%. as of the end of the reporting period, hongpu apartment had 10,025 rooms under operation and management; the "youzu cloud" system outputs 77,433 rooms under management.
in terms of main business by region, the operating income of south china and shandong regions decreased by 41.53% and 49.39% year-on-year to 590 million yuan and 77.01 million yuan, mainly due to the decrease in regional large-scale transaction business income; the operating income of east china region was 166.7 million yuan, down 37.16% year-on-year, affected by the decrease in regional large-scale transaction business income and the optimization and adjustment of investment promotion and space operation business; the operating income of north china, central china and southwest regions was 22.31% and 18.54% year-on-year to 228.87 million yuan and 134 million yuan, mainly affected by the decrease in property and comprehensive facilities management business and regional large-scale transaction business income.
as of the end of the reporting period, the group's total receivables from this customer and its affiliates (including accounts receivable, notes receivable, contract assets and other receivables) totaled rmb1.22 billion, and the investment cost of other non-current financial assets held by evergrande real estate group co., ltd. through indirect investment was rmb100 million.
the paper reporter liu chang
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