High Quality Assets - Holding 1.26 million sqm of prime location commercial properties in Beijing and Shanghai
Solid Value Protection - Occupancy steadily increased. Asset scarcity, value protection in an increasingly complex and uncertain environment
Robust Operating Cash Flow - All projects under mature operating with diverse tenant mix providing a stable rental income
Stable Financial Position - No pressure on ongoing projects and large capital expenditures, low gearing ratio, healthy debt maturity profile and stable financing cost
Reinforce green basement -Fulfilling green & environmental protection, advocating for green leasing, gaining accreditations by authoritative institutions
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Interim Results Summary of 2023
The average occupancy of the Group's investment properties stabilized and recovered to approximately 79% as at 30 June 2023.
Despite an increasingly challenging office and retail property leasing markets due to weak macro-economic environment, the Group achieved revenue of approximately RMB822 million for the Period.
Gross profit margin remained stable and was approximately 83% for the Period.
Profit attributable to owners of the Company from operating activities (excluding valuation changes on investment properties and one-off tax and administrative fees and charges) was approximately RMB207 million for the Period.
As at 30 June 2023, net gearing ratio of the Group was approximately 42%, and average funding cost was approximately 4.7%.
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Holding prime location office buildings in Beijing and Shanghai
Office buildings in prime location of Beijing & Shanghai with great scarcity
Projects completed and stabilized ,offers greater value protection
Leasable Areas by Location
Value of Investment Properties
Unit: RMB bn
46%
54%
63.37
63.66
63.79
63.65
Beijing
Shanghai
2020
2021
2022
2023H1
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Occupancy stabilized
• Occupancy stabilized and recovered to 79%
• Profit (excluding valuation changes on
investment properties and one-off tax) increased
to RMB207 million
Average Occupancy[1]
80%
76%
79%
2022H1 2022 2023H1
Profit
(excluding valuation changes on
investment properties and one-off tax)
Unit: RMB mn
179207
2021H1
2022H1
2023H1
Note [1]: Occupancy rate for office and retail areas at the end of relevant year
-294
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SOHO China Ltd. published this content on 11 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2023 04:00:03 UTC.
Soho China Ltd is an investment holding company mainly engaged in office property business. The Company's main business is the sale and leasing of commercial real estate. The Company's projects include Qianmen Avenue Project, Wangjing SOHO Tower, SOHO Fuxing Plaza, Leeza SOHO, Bund SOHO, SOHO Tianshan Plaza and other projects. The Company mainly holds properties in Beijing and Shanghai. The Company mainly conducts its businesses in the domestic market.