Ma Di shares: The net profit declined by 50% in the first half of the year, and the guaranteed amount of RMB 654.38+056 billion exceeded the net assets.

August 19, Ma Di co., ltd (600565. SH), the former richest man in Chongqing, Luo Kong, released the interim results report for 2020, and the revenue increased, but the gross profit and net profit both decreased, so there was a phenomenon that increasing income did not increase profits. At the same time, the total amount of guarantee for Ma Di shares has exceeded the company's net assets.

During the period, the company achieved operating income of 4.282 billion yuan, up 20.59% year-on-year, of which the main business income was 465.438+0.06 billion yuan, and the income from real estate development (including property) and special purpose vehicle manufacturing accounted for 88.65% and 7.99% respectively.

Among them, the income of Central China was 65.438+0.26 billion yuan, up 86.96% year-on-year; East China achieved a regional income of 654.38+0.93 billion yuan, a year-on-year increase of 282.96%; Nanjing Company's revenue was 49 million yuan, down 90.54% year-on-year.

While the profits of the whole real estate industry are declining, Ma Di shares are no exception. Not only does the increase in income not increase profits, but on the basis of the increase in operating income, both gross profit and net profit have declined.

During the period, Ma Di achieved a gross profit of 845 million yuan, a year-on-year decrease of 28.63% compared with1184 million yuan in the same period of 20 19. The gross profit margin of the company was 20.58%, which was19 lower than that of the same period by 1.32 percentage points. Among them, the gross profit margin of real estate and property services was 265,438+0%, which was 65,438+0.32 percentage points lower than that of the same period in 2065,438+09.

In the first half of the year, Ma Di's net profit attributable to listed companies was 203 million, down 48.30% year-on-year; The net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 65.438+0.3 billion yuan, down 65.45% year-on-year.

According to the report, as of the end of June, the total amount of Ma Di's share guarantee (including the guarantee for subsidiaries) was1561500 million yuan, accounting for 102.5 1% of the company's total net assets. Among them, the amount of debt guarantee provided directly or indirectly to the guaranteed object with asset-liability ratio exceeding 70% is about119.93 million yuan, the amount of total guarantee exceeding 50% of net assets is 7.999 billion yuan, and the total amount of the two guarantees is199.92 million yuan.

In terms of liabilities, as of the end of June, the asset-liability ratio was 79.84% and the long-term debt ratio was nearly 60%. Among them, the interest-bearing debt ratio is 18.26% and the net debt ratio is 54.55%. During the period, Ma Di Co., Ltd. broadened financing channels, promoted corporate bonds, epidemic prevention bonds, supply chain ABS, commercial real estate mortgage-backed securities and other financing, and issued the "Sino-Thai Asset Management -SAC Construction Trust Beneficial Rights Asset Support Plan" of 65.438+06.5438+600 million yuan.

In terms of land reserve, Ma Di Co., Ltd. added 14 cases with a planned construction area of about10.7 million cubic meters, and entered Zhaoqing, Guangdong, Ningbo, Zhejiang and Lishui for the first time.

Ma Di's business is mainly divided into real estate and special purpose vehicle manufacturing. Among them, the real estate business of real estate development companies is mainly engaged in the development of residential real estate, commercial real estate and industrial real estate. Take "Dongyuan" as the core brand.

At present, there are 73 real estate projects under construction or planned in Ma Di, which are located in Shanghai, Guangzhou, Nanjing, Hangzhou, Suzhou, Chongqing, Chengdu, Wuhan, Zhengzhou, Xi, Guiyang, Changsha and Kunming, and entered Shijiazhuang, Zhaoqing, Ningbo and Lishui for the first time during the reporting period.

Proofreading: Luan Meng