Capital real estate (according to the interim report of 2020 released, in the first half of this year, the contract amount reached 33.7 billion yuan, a year-on-year decrease of 16.8%; the operating revenue was 9.219 billion yuan, a year-on-year decrease of 12%; the net profit attributable to the shareholders of the parent company was 850 million yuan, a year-on-year decrease of 28.39%; the earnings per share was 0.11 yuan, a year-on-year decrease of 63.33%. < p > < p > although pioneer real estate has a steady attitude this year and set the annual performance target of this year to be the same as that of last year, both of which are 80 billion yuan. However, from the sales situation in the first half of the year, the completion progress is only 42%, and many other core performance indicators have declined compared with the same period. < p > < p > capital real estate said in the announcement that the real estate market has been significantly impacted by the new crown epidemic, real estate projects in various regions have been suspended, many sales offices have been closed, and the group’s contracted sales have also been greatly affected. < p > < p > among them, Beijing Tianjin Hebei, Yangtze River Delta and Dawan District of the three core city circles achieved 29.19 billion yuan, accounting for about 87%. The growth of the Yangtze River Delta region was particularly obvious, with the signing amount reaching 10.41 billion yuan, up 30% compared with the same period last year. However, Beijing Tianjin Hebei region, which has always been the main sales force of the first real estate sales, sold 17.639 billion yuan in the first half of the year. Although the sales contribution still accounted for 52%, it was significantly lower than that of 36 billion yuan of sales and nearly 90% of the contribution in the same period of last year. < p > < p > due to the impact of the second epidemic in Beijing, the epidemic prevention level was upgraded again after June, which made the flow of people and sales of the sales offices in and around Beijing drop again, which is a big impact for the first home buyers who put the main market in Beijing. However, at the mid-term performance meeting on August 18, the management of pioneer real estate still expressed confidence in the market in the second half of the year. Zhong Beichen, President of capital real estate, said that in the second half of the year, the value of capital real estate’s entering the market was 100 billion yuan, and the supply was sufficient. The pace of pushing goods would be adjusted according to different cities and regions. Shanghai, Hangzhou, Southern Jiangsu, Guangdong, Hong Kong and Macao Bay area would be the market focus. Since July, many cities across the country have increased the regulation and control policies of the property market. In this regard, Zhong Beichen said, judging that the real estate market will be strictly restricted in the second half of the year, the local authorities will be under pressure from various parties, and the long-term mechanism of the real estate industry will continue to be implemented. In the second half of the year, the company will focus on high-quality development, implement fast turnover, grab payment and implement safe and stable investment strategies. < p > < p > in terms of land investment, in the first half of the year, the first real estate company obtained some low-cost land resources through the way of primary and secondary linkage. During the period, it won six secondary development projects such as Beijing, Zhengzhou, Nanjing and Chongqing. It was a non competitive bottom price transaction with low cost, with a total construction area of 3.076 million square meters and a total investment of 12.58 billion yuan. As of the end of June this year, the total construction area of the first home ownership land reserve was 17.899 million square meters, and the total construction area of equity was 11.398 million square meters. According to Zhong Beichen, the company plans to take 15 billion yuan of land in equity this year. In addition to investing in the three traditional regions in the second half of the year, the company will focus on core cities in Kunming, Zhengzhou and Wuhan, which will be the main investment strategy areas in the second half of the year. In terms of commercial real estate, the retail industry has also been hit by the epidemic. In addition to facing the epidemic situation, Pioneer has also reduced the rent of some olai merchants. In the first half of the year, the turnover was 2.9 billion yuan, down 20% year on year. < / P > < p > the management of pioneer real estate said frankly that the epidemic hit some cities of OLE particularly. In the first quarter, the revenue of Hainan ole decreased by 60%, and that of Wuhan and Beijing also dropped by more than 30%. However, the second quarter revenue has gradually recovered to the same period level, and the line used is more than 10000 yuan. In terms of finance, by the end of June 2020, the total assets of capital real estate were 202.408 billion yuan, up 10% year-on-year. The total liabilities were 156.9 billion yuan and the asset liability ratio was 78%, an increase of 1% over the same period last year. At the mid-term performance meeting, fan Shubin, chief financial officer of capital real estate, said that the company had 32.4 billion yuan of cash on hand, with low financing cost, wide financing channels, and 5.34% debt financing cost, which was at a low financing cost level in the industry. In the face of possible tightening of financing and controlling the growth of interest bearing debt in the market, fan Shubin said that no official document has been obtained at present, but if it does come out, it will have limited impact on the company. He said that in June this year, he has launched the application for the full circulation plan of H shares and submitted it to the CSRC, which is expected to be approved by the end of this year.