Summary by Moomoo AI
China Overseas Development Limited announced the unaudited interim performance for the six months ended June 30, 2024. During the period, the group's contracted property sales reached RMB 148.38 billion, with a sales area of 5.44 million square meters. The group's revenue was RMB 86.94 billion, of which commercial property revenue was RMB 3.54 billion, a year-on-year increase of 19.8%. The attributable net profit to shareholders was RMB 10.31 billion, and the attributable net profit to core shareholders was RMB 10.64 billion, with basic earnings per share of RMB 0.94. The Board of Directors announced an interim dividend of HK$0.30 per share. In addition, the group added six parcels of land in four cities in mainland China, with a total construction area of 1.17 million square meters. As of June 30, 2024, the group's total borrowings were RMB 255.57 billion, and it held bank balances and cash of RMB 100.24 billion. The net debt-to-equity ratio was 38.7%, and the weighted average financing cost was 3.5%, which was in the lowest range in the industry.