碧桂園(02007.HK)上半年淨虧損190.8億元 有信心在2025年內完成境外債務的整體重組工作
格隆匯8月29日丨碧桂園(02007.HK)公佈中期業績，2025年上半年，集團實現總收入約為人民幣725.7億元，同比減少約28.9%，集團及其合營企業和聯營公司累計完成交付房屋約7.4萬套。集團實現淨虧損約為人民幣196.5億元，歸屬公司股東應占淨虧損約為人民幣190.8億元。期內，集團營銷及市場推廣成本和行政費用約為人民幣39.4億元，同比下降18.9%。
截至2025年6月30日止六個月，集團連同其合營企業及聯營公司，共實現歸屬公司股東權益的合同銷售金額約人民幣167.5億元，歸屬公司股東權益的合同銷售面積約205萬平方米。2022年以來集團處置各類資產回籠約人民幣650億元，努力拓展和提升收入來源，為公司保交房和穩定經營提供支撐。
於2025年6月30日，集團共有總現金餘額約人民幣240.62億元(2024年12月31日：約人民幣298.97億元)。其中現金及現金等價物約為人民幣62.82億元，受限制現金約為人民幣177.80億元。
目前，境外債務重組工作正有序推進中，重組提案的主要條款已經協定。截至2025年8月18日，持有現有公開票據本金總額逾77%的持有人已加入重組協議。公司有信心在2025年內完成境外債務的整體重組工作。本次納入境外大重組範圍的外部有息債務本息約160億美元，股東貸款本息約12億美元，合計約172億美元。在重組方案五種選項足額認購的情況下，重組後公司最高降債規模可達約117億美元。按重組支持協議公吿時點的市場浮動利率計算，重組後新的債務融資成本預計將下降至1.0%至2.5%，期限最長高達11年。與此同時，公司積極地響應城市房地產融資協調機制，持續推動境內項目進入白名單，通過新增融資、存量貸款展期以及降低融資成本等方式，緩解項目的債務壓力，改善項目流動性情況，為項目的運營交付爭取更多外部助力。公司將繼續推動穩資債的相關工作，逐步構築健康且可持續的資本結構。
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