In 2024, the new-type urbanisation segment generated revenue of RMB46.987 billion and profit attributable to ordinary shareholders of RMB5.135 billion, representing year-on-year increases of 8.3% and 137.4%, respectively. The property development, operation and management business faced ongoing industry pressures but actively promoted sales settlements and worked to maintain stable occupancy rates. This segment achieved a 40.4% year-on-year increase in revenue, reaching RMB14.709 billion, with profit attributable to the parent company rising by 28.7% to RMB3.1 billion, largely due to a low base from the previous year’s provisions. The construction and urban operations business seized opportunities along Belt and Road markets, resulting in a significant increase in new effective contracts. While revenue remained stable at RMB34.114 billion, substantial progress was made in receivables settlement, leading to a turnaround from loss to profitability.
