Yuzhou Group (01628) announced interim results and achieved revenue of 6.377.5 billion yuan with sufficient land reserves

According to the Zhitong Finance App, Yuzhou Group (01628) announced its 2024 interim results, with revenue of 6.377.5 billion yuan and gross profit of about 108 million yuan. Property sales revenue reached 6.128 billion yuan, and the total construction area of the delivered property was about 442,600 square meters.

Adhering to an expansion strategy of deep regional cultivation, the Group is deeply involved in the layout of the six major metropolitan areas of the Yangtze River Delta region, Haixi Economic Zone, Bohai Rim region, Greater Bay Area, Central China region and Southwest China based on the development principle of “entering one city and deepening cultivation in one city”. As of June 30, 2024, the Group's total land reserves can be sold with a total sales area of about 11.31 million square meters, and 163 projects are distributed in 38 cities in the six major metropolitan areas. The average floor cost is approximately RMB 6,005 per square meter. The Group believes that the land reserves currently held and managed will be sufficient for the Group's development needs in the next two to three years.