china merchants property achieved revenue of rmb 7.839 billion in the first half of the year, and the area under management increased to 385 million square meters
2024-09-01
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on august 30, china merchants group's main platform enterprise engaged in property asset management and operation services, china merchants jiyu industrial operation service co., ltd. (china merchants jiyu, 001914.sz), released its 2024 semi-annual report.
in the first half of this year, china merchants property's operating income was 7.839 billion yuan, a year-on-year increase of 12.34%; the net profit attributable to shareholders of the listed company was 435 million yuan, a year-on-year increase of 3.79%; the net cash flow generated by operating activities was -144 million yuan, a year-on-year decrease of 360.44%.
as of the end of the period, china merchants property had total assets of 18.607 billion yuan, net assets attributable to shareholders of listed companies of 10.015 billion yuan, and an asset-liability ratio of 45.26%; it held 2.247 billion yuan in cash and 1.434 billion yuan in interest-bearing debt.
china merchants property’s main businesses include property management, asset management and other businesses.
in terms of different segments, the property management business achieved operating revenue of rmb 7.535 billion, up 12.68% year-on-year, mainly due to the expansion of new property management projects in the market, the increase in projects delivered by the parent company, and the growth of extended business of existing property management projects; the asset management business achieved operating revenue of rmb 289 million, up 2.61% year-on-year, mainly due to the increase in commercial operation projects under management; other businesses achieved operating revenue of rmb 15 million, mainly due to the sale of miscellaneous assets during the reporting period.
the semi-annual report shows that in the first half of 2024, china merchants property management continued to expand its market in multiple fields, with the newly signed annual contract value reaching 1.893 billion yuan. among them, the newly signed annual contract value of third-party projects was 1.74 billion yuan, and the contribution of tens of millions of projects to the newly signed annual contract value exceeded 50%. as of the end of june 2024, the company had 2,209 projects under management, and the management area increased to 385 million square meters, of which the management area from third-party projects was 257 million square meters, accounting for 67%.
the newly signed annual contract value of non-residential business in third-party projects reached 1.571 billion yuan, accounting for 90%. as of the end of june 2024, the management area of non-residential business increased to 252 million square meters, accounting for 66%. during the reporting period, the non-residential business grew steadily, achieving basic property management operating income of 4.633 billion yuan, a year-on-year increase of 19%, accounting for more than 70% of basic property management operating income. during the reporting period, the newly signed annual contract value of market-oriented residential projects was 169 million yuan, a year-on-year increase of more than 70%, of which the newly signed annual contract value of residential second-hand project market expansion exceeded 20 million yuan.
in addition, during the reporting period, the newly signed annual contract amount from china merchants shekou reached 153 million yuan. as of june 30, 2024, the property area managed by the company from china merchants shekou reached 128 million square meters.
in terms of commercial operation business, as of the end of june 2024, china merchants commercial management has 70 commercial projects under management (including preparation projects), with a management area of 3.97 million square meters, including 3 self-owned projects, 58 entrusted management projects of china merchants shekou, and 9 third-party brand output projects. in the first half of 2024, the sales of centralized commercial properties increased by 26.7% year-on-year, and the same store sales increased by 6.9% year-on-year; the passenger flow increased by 37.7% year-on-year, and the same store sales increased by 15.4% year-on-year. the total number of valid members reached 7.529 million, an increase of 63.2% year-on-year.
the paper reporter liu chang and li xiaoqing
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