COUNTRY GARDEN (02007) released its mid-year performance for 2024, achieving revenue of approximately 102.1 billion yuan, delivering over 150,000 housing units, and a cumulative delivery area of approximately 18.22 million square meters.

COUNTRY GARDEN (02007) announced its interim performance for the six months ending June 30, 2024. The Group achieved a total revenue of approximately RMB 102.1 billion, with 96.8% of the revenue coming from property sales (compared to 97.6% in the same period in 2023) and 3.2% from technology construction and other divisions (compared to 2.4% in the same period in 2023). Property delivery remains the company's top priority. As of the six months ending June 30, 2024, the Group achieved a revenue of approximately RMB 102.1 billion and, together with its joint ventures and associates, has delivered over 150,000 units of housing, with a cumulative delivery area of approximately 18.22 million square meters, spanning 29 provinces and 178 cities. As the delivery work progresses into more challenging areas, the company employs a tight budget operating strategy, fully tapping into existing delivery resources, and working closely with main contractors and suppliers to ensure mutual agreement on project progress and settlement arrangements to ensure the smooth operation of projects. At the same time, the company actively responds to various support policies from national and local governments, leveraging white lists, projects, and policies related to idle land acquisition and storage to maximize external resources to support the smooth progress of delivery work. In terms of operations, the company is committed to maintaining the stability and continuity of its operations and actively managing its balance sheet. During the period, the Group, along with its joint ventures and associates, achieved a contract sales amount of approximately RMB 26 billion attributable to the Company's shareholders' equity, corresponding to a contract sales area of approximately 2.65 million square meters. On the operational front, the company adjusts its organizational structure to adapt to market changes, controls and allocates management expenses reasonably, resulting in a further 25.3% decrease in management expenses compared to the same period last year, continually improving operational efficiency. On the other hand, the company closely manages inventory in response to market conditions, actively undertakes market exploration work, matches market demand to formulate corresponding supply plans, stabilizes sales prices, maintains reasonable flow, and maximizes the value of development-type assets. Through these efforts, the company is confident in having sufficient operating funds in the coming year. In terms of credit, the company attaches great importance to resolving debt risks and actively communicates with various stakeholders to explore various measures such as overall restructuring of overseas debt, reasonable extension of debt maturity, and moderate reduction in financing costs. At the same time, the company responds to various financing policy calls and actively promotes more projects to be included in the white list, to secure more time and space for the stable operation of projects and gradually achieve a long-term and sustainable capital structure.