Landsea Green Life (01965) announced interim results, profit attributable to shareholders of 11.146 million yuan, total managed construction area of about 31.98 million square meters

According to the Zhitong Finance App, Landsea Green Life (01965) announced interim results for the six months ended June 30, 2024. The group achieved revenue of 392 million yuan (RMB, same below); gross profit of 67.531 million yuan; profit attributable to shareholders of 11.146 million yuan; and basic profit per share of 0.03 yuan.

According to the announcement, as of June 30, 2024, the Group's property management services covered 37 cities, including 24 Yangtze River Delta cities and 13 other cities in China. As of June 30, 2024, the Group's total managed construction area was about 31.98 million square meters, of which the total construction area under management was about 29.9 million square meters. A total of 196 properties are under management, including 169 residential properties, 20 commercial and office buildings and 7 urban services, serving more than 240,000 households.

The Group continues to cultivate the Yangtze River Delta, insist on multi-pipeline expansion, pursue sustainable scale growth; increase project management formats, and actively enter the empty regional market. As of June 30, 2024, the Group's total contract construction area was 39.41 million square meters, of which the combined contract area was about 35.84 million square meters. The total construction area added during the period was about 310,000 square meters, of which, according to customer type, new contract construction area from independent third parties accounted for 100% of the total increase during the period; by property type, the new contract construction area from commercial and office projects was about 160,000 square meters, accounting for about 50.8% of the annual increase.

The Group paid great attention to the increase in the scale of operation, and paid more attention to the quality of the increase in the scale of operation. During this period, it withdrew 14 projects with operating efficiency that did not meet expectations, and withdrew from a management scale of about 1.48 million square meters.