Xincheng Development (01030) announced interim results, net profit of about 959 million yuan, a year-on-year decrease of 32.97%

According to the Zhitong Finance App, Xincheng Development (01030) announced its 2024 interim results, with a turnover of approximately RMB 30.03 billion, a year-on-year decrease of about 20%; net profit attributable to the company's equity holders was approximately RMB 959 million, a decrease of 32.97% year-on-year. Basic earnings per share were $0.14.

In 2024, Xincheng will continue to adhere to the goals of securing delivery and credit, while actively grasping construction and management development opportunities to strengthen expansion and operation capabilities. In the first half of 2024, the group successfully delivered more than 57,000 residential units. At the same time, Xincheng Construction Management has obtained several contract construction projects, and the scale of contract contracts from January to June 2024 has risen to the top 6. During the reporting period, the Group achieved a contract sales area of about 3.262,200 square meters and achieved a contract sales amount of about RMB 23.554 billion.

In the first half of 2024, the Group's property development business turnover was approximately 27.55 billion yuan. The total construction area of the delivered property is 3,186,784 square meters. The average sales price of the property delivered and confirmed for sale is approximately RMB 8,645 per square meter.