Summary by Moomoo AI
China Overseas Development Limited (China Overseas) faced challenges in the real estate market in the first half of 2024, but still achieved steady performance. The company's revenue for the six months ended June 30, 2024, was CNY 86.94 billion, with net profit attributable to shareholders of the company of CNY 10.31 billion and net profit attributable to core shareholders of CNY 10.64 billion. The shareholders' equity of the company was CNY 378.54 billion. The board of directors announced an interim dividend of HKD 0.30 per share. The company achieved sales contracts totaling CNY 74.4 billion in Beijing, Shanghai, Guangzhou, and Shenzhen, the four first-tier cities, accounting for 62.7% of the company's total sales contracts. The company maintains a stable financial condition, with an asset-liability ratio of 56.1% and a net debt-to-equity ratio of 38.7%, and holds bank balances and cash of CNY 100.24 billion. Looking ahead, the company will continue to adhere to a high-quality development strategy and actively respond to market challenges.
