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Speakers
Mr. LAM Lung On,
J.P.
Deputy to the National People’s Congress,
Founder & Chairman
Mr. CAI Minghui Executive President
Mr. Jacky WONG CFO & Company Secretary
2
3
Founder & Chairman
Vice Chairman of the All-China General Chamber of
Industry and Commerce (Member of the All-China
Federation of Industry and Commerce (“ACFIC”))
Visiting Professor of the University of Science and
Technology of China
Mr. Lam Lung On, J.P.
Founder & Chairman
Deputy to the National People’s Congress
Premium landbank with 17.25 mn sq.m. +, RMB300 bn+ salable resources Avg. land cost c. RMB 4,995
Widely recognized capital markets KPI Hang Seng Composite Large Cap & Mid Cap Indexes
Southbound Trading under Hong Kong – Shanghai Stock Connect
MSCI China Index
Widely recognized across multiple financing channels
Offshore:issued in total US1bn senior notes due 2021
Onshore:no repurchase in RMB 2bn private bond puttable in June 2018
Maximize shareholders 'returns
with sound operation Gross profit margin: 31.5%
Net profit growth: 83.5%:
Net profit margin/Core profit margin: 15.0%/12.5% Interim Dividend: HK 11 cents
Payout ratio: 34.9% Net gearing: 63.0%
.
Prudent & active land acquisition through multiple
strategies
Acquired Coastal Greenland package at RMB3.8bn, including 7
premium projects
Aerospace Smart Town in Chengde
Entered 7 cities: Beijing, Chongqing, Foshan, Shenyang, Zhengzhou, Bozhou & Xuzhou
.
Abundant salable resources
1H18 achieved RMB21.5bn FY18 target: RMB60bn FY18 salable resources RMB92bn Launching schedule: 1H 35% Vs 2H65%
A 100bn Journey started with 26 cities in 6 metropolitan areas Dual Drivers: Residential +commercial development
Share options covering core mid-high level management, launched co-investment (As at the Date of Announcement)
Prioritized quality and services 3 product lines : Honor, Langham & Royale 3 service offerings: Housekeeping, circle & refined services Award-winning quality including but not limited to: Yuzhou Properties- Most Influential Property Company in Suzhou Nanjing Lakeside- Safe and Civilized Construction Demonstration Site in Jiangsu Province Suzhou Royale Aqua Mansion- 2018 Most Awaited Property Project in Suzhou
A Journey to 100 bn+
with Nationwide Cultivation
Highlights
4
Sales performance has grown dramatically over the past few years. Contracted sales in line with projected launching schedule
More projects will launch in 2H2018, as new strong growth catalysts for 2H2018 performance
Responding to market changes, launched in-demand quality residential products that cater to upgraded modern consumer tastes
Accelerated the project development cycle and actively expanded in core first- and second-tier cities and their satellite cities
Contracted Sales Contracted GFA Contracted ASP
Contracted Sales on Track with Strong Growth Outlook in 2H2018
12,689
16,929
13,623
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
FY2016 FY2017 1H2018
RMB mn ‘000 sq.m. RMB/ sq.m.
12,872
21,487 21,494
10,334
18,819
0
4,000
8,000
12,000
16,000
20,000
24,000
28,000
32,000
36,000
40,000
44,000
FY2016 FY2017 1H2018
1H 2H
21,494
40,306
23,206
1,011
1,283
1,578
818
1,098
0
500
1,000
1,500
2,000
2,500
FY2016 FY2017 1H2018
1H 2H
2,381
1,829
1,578
6
Contracted Sales in 1H2018
1H2018 FY2017 FY2016
# of Cities 17 12 9
Contracted ASP (RMB / sq.m.)
13,623 16,929 12,689
Region Project # City
Interest in Project
Contracted Sales
As of Total Contracted
GFA Contracted
ASP
(%) (RMB mn) (%) (Sq.m.) (RMB / sq.m.)
West Strait 14 5 92% 5,034 23.4% 441,421 11,401
Yangtze River Delta
21 7 47% 10,504 48.9% 676,103 15,538
Central China 2 1 100% 2,382 11.1% 150,184 15,860
GHM Bay Area 1 1 51% 64 0.3% 5,805 11,020
Bohai Rim 4 3 78% 3,510 16.3% 304,242 11,538
Total 21,494 1,577,755 13,623
1H2018 Contracted Sales by City
Xiamen 3.9%
Fuzhou 7.0%
Quanzhou 9.1%
Longyan 3.1% Zhangzhou
0.3%
Shanghai 8.6%
Hefei 7.3%
Nanjing 11.4%
Hangzhou 7.7%
Zhoushan 1.0%
Suzhou 3.8%
Bengbu 9.1%
Wuhan 11.1%
Huizhou 0.3%
Tianjin 5.3%
Tangshan 7.0%
Shenyang 4.0%
In 1H2018, Yuzhou achieved a total contracted sales of approximately RMB21,494 mn; contracted GFA was
1,577,755 sq.m.; and the contracted ASP was RMB 13,623/sq.m.
Contracted Sales by Region
West Strait 23.4%
Yangtze River Delta 48.9%
Central China 11.1%
Bay Area 0.3%
Bohai Rim
16.3%
Number of Projects by Region
West Strait
14
Yangtze River Delta
21
Central China
2
Bay Area 1
Bohai Rim 4
7
Monthly Contracted Sales & ASP in 1H2018
Monthly Contracted Sales & Contracted ASP ( Jan 2017 - Jul 2018)
2,064
2,981
5,106
3,891 3,995
3,450
2,694 2,511
2,200
3,525
4,290
3,598
2,758
3,047
4,543
4,012 4,111
3,018 3,016
13,148 14,435
16,146
17,728 18,799 20,116
16,921 17,180 16,828
20,000
17,203
15,252 13,314
11,716 13,082
14,832 13,809
15,566
12,859
0
5,000
10,000
15,000
20,000
25,000
0
1,000
2,000
3,000
4,000
5,000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Contracted Sales in 2017 Contracted Sales in 2018 ASP in 2017 ASP in 2018
Contracted ASP (RMB/sq.m.)
Contracted Sales (RMB mn)
8
8
Win-Win of Scale & Profitability
RMB mn
10,376
13,672
21,701
7,247
9,243
3,709 4,959
7,683
2,388 2,914
35.7% 36.3%
35.4% 33.0% 31.5%
0.0%
10.0%
20.0%
30.0%
40.0%
0
4,000
8,000
12,000
16,000
20,000
FY2015 FY2016 FY2017 1H2017 1H2018
Revenue Gross profit Gross margin
Revenue, Gross profit & Gross profit margin
1,107 1,483 1,503
629 692
9,172 9,000
14,118
11,204 12,574
0
4,000
8,000
12,000
16,000
0
200
400
600
800
1,000
1,200
1,400
1,600
FY2015 FY2016 FY2017 1H2017 1H2018
Recognized GFA ASP
GFA ‘000 sq.m.
ASP RMB ‘000/sq.m.
Recognized GFA & ASP
1,620
2,047
2,924
920 1,158
0
500
1,000
1,500
2,000
2,500
3,000
3,500
FY2015 FY2016 FY2017 1H2017 1H2018
RMB mn
Core net profit (b)
RMB mn
EBITDA (a)
3,883
5,325
7,609
2,433
3,223
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
FY2015 FY2016 FY2017 1H2017 1H2018
(a) EBITDA = net income + capitalized borrowing cost under cost of sales + finance cost + income tax expense + depreciation + fair value loss on derivative financial instruments + realized loss on derivative financial instruments – interest income – fair value gain on investment properties – unrealised fair value gain arising from remeasurement of equity interests of joint ventures
(b) Core net profit is the net profit attributable to owners of the parents adjusted for mainly the after-tax fair value gain/(loss) on investment properties and fair value gain (loss) on derivative financial instruments, exchange differences and unrealized fair value gain arising from remeasurement of equity interests in joint ventures
9
Strategic Planning of Land Acquisition at Attractive Value
Beijing
Shanghai
Fuzhou
Xiamen
Tianjin
Region GFA
(million sq.m.)
Average Land Cost
(RMB)
Land Bank Proportion
(%)
Yangtze River Delta
7.21 6,917 41.8%
Region GFA
(million sq.m.)
Average Land Cost
(RMB)
Land Bank Proportion
(%)
West Strait
3.73 4,481 21.6%
Region GFA
(million sq.m.)
Average Land Cost
(RMB)
Land Bank Proportion
(%)
Central China
1.00 5,387 5.8%
Region GFA
(million sq.m.)
Average Land Cost
(RMB)
Land Bank Proportion
(%)
Bay Area
0.46 3,774 2.7%
Region GFA
(million sq.m.)
Average Land Cost
(RMB)
Land Bank Proportion
(%)
Bohai Rim
4.16 2,287 24.1%
Region GFA
(million sq.m.)
Average Land Cost
(RMB)
Land Bank Proportion
(%)
South- west
0.69 4,263 4.0%
As of Jun 30, 2018, cultivating 6 metropolitan areas with a footprint in 25 cities
The land bank was approximately 17.25 mn sq.m. with the average land cost of RMB4,995
West Strait Economic Zone
Yangtze River Delta Region
Bohai Rim Region
Central China Region
GHM Big Bay Area
Southwest Region Chongqing Suzhou
Hangzhou
Zhangzhou Huizhou
Zhoushan
Nanjing Hefei
Bengbu
Longyan Quanzhou
Qingdao
Yangzhou
Hong Kong
Shenyang
Tangshan
Foshan
Bozhou
Zhengzhou
Wuhan
10
11
New Land Bank since Beginning of 2018
Time City Project type Methodology %
Site area
(sq.m.)
Saleable GFA
(sq.m.) Att. GFA (sq.m.)
Total land cost
(RMB mn)
Att. land cost
(RMB mn)
Avg. land cost
(RMB/sq.m.)
Jan Suzhou Resi Bidding 20% 42,481 76,466 15,293 1,032 206 13,500
Jan Suzhou Resi Bidding 19% 100,887 201,774 38,337 2,754 523 13,649
Feb Chongqing Resi Bidding 100% 194,489 250,970 250,970 1,290 1290 5,140
Mar Huizhou Resi / Com Bidding 51% 4,304 15,775 8,045 38 19 2,383
Mar Huizhou Resi / Com Bidding 51% 12,919 36,173 18,448 177 90 4,894
Mar Quanzhou Resi / Com Bidding 100% 17,473 52,419 52,419 161 161 3,071
Mar Hanghzou Resi Bidding 34% 61,030 122,060 41,500 922 314 7,555
Apr Quanzhou Resi M&A 100% 56,146 140,365 140,365 225 225 1,603
Apr Nanjing Resi Bidding 20% 102,787 143,901 28,780 577 115 4,010
Apr Nanjing Resi / Com Bidding 49% 188,420 266,923 130,792 972 476 3,641
Apr Chongqing Resi M&A 51% 14,785 53,816 27,446 73 37 1,347
May Bozhou Resi Bidding 50% 63,011 113,400 56,700 284 142 2,506
May Hangzhou Resi Bidding 49% 31,033 55,860 27,371 857 420 15,350
May Zhengzhou Resi / Com Bidding 51% 51,674 258,370 131,769 326 166 1,262
May Chongqing Resi / Com Bidding 49% 200,568 387,677 189,962 1,590 779 4,100
Jun Fuzhou Resi Bidding 100% 26,557 58,491 58,491 559 559 9,558
Jul Xuzhou Resi Bidding 70% 127,243 203,588 142,512 191 134 937
Sub-Total 1,295,807 2,438,028 1,359,201 12,028 5,659 4,933
Coastal Greenland’s Package Acquisition 3,106,900 1,600
Total 4,466,101 3,042
Acquistion60%
Bidding & Auction
40%
2018YTD Land Acquisition Strategy*
West Strait Economic Zone, 5%
Yangtze River Delta,
21%
Central China, 7%
GHM Big Bay Area,
1% Bohai Rim Region, 53%
Southwest, 13%
Saleable GFA*
*Based on saleable GFA
(a) Acquired the package of 7 quality projects from Coastal Greenland (located in Beijing, Tianjin, Wuhan, Foshan and Shenyang) for a total consideration of RMB 3.8bn, with the attributable saleable GFA of 3,106,900 sq.m. at average land cost of approximately RMB 1,600.
(b) The equity interest listed in the table is for reference only as a result of introduction of partners for some of these projects.
3 Popular Product Lines with priority on safety and quality
Honor Langham Royale
Establishing Three Popular Product Lines with Superior Craftsmanship
4 Dimensions
4 Aspects
Delineated the product lines from 4 dimensions based on 4 aspects and developed standardized modules
First-time Buyer and Upgrader
First-time Upgrader Upgrader Target Group :
12
Regional Commercial Business Expansion
Name Business Form City
Yuzhou World Trade Centre MALL
Xiamen Haicang Yuzhou Living Plaza Community Commercial
Yuzhou Central Coast Community Commercial
Yuzhou Plaza Office Building
Yuzhou City Plaza MALL
Quanzhou Huian Golden Street Community Commercial
Huian Plaza Office Building
Yuzhou Commercial Plaza MALL
Shanghai
Yuzhou Plaza Office Building
Research Building Office Building
Yuzhou Jingqiao International Community Commercial
Yuzhou Land Dream Community Commercial
Yuzhou Central Plaza MALL
Hefei Yuzhou Central Plaza
Commercial Street Community Commercial
Projects in Operation:14
Name Business Form City
Yuzhou Central Town (Main
Street) Commercial Street
Hefei Yuzhou Sky Aqua Mall MALL
Yuzhou Galaxy Park MALL
Riverside Sapphire
Commercial Villa Commercial Villa
Hangzhou
Riverside Sapphire Office Building
Suzhou Wangting Town
Project MALL Suzhou
Wuyan Bay Hotel Commercial Floor in
Hotel Xiamen
Yuzhou Commercial Plaza MALL Nanjing
Yuzhou Commercial Plaza MALL、Office Building
Wuhan Lingjiao River No. One Community Commercial
Coastal International
Commercial Plaza Community Commercial
Yuzhou Plaza Commercial Floor in
Office Building Shenyang
Yuzhou Commercial Plaza Community Commercial Yangzhou
Projects in Preparation:13
Adhering to the operating philosophy of “Refined system, regulated management, procedural operation and friendly service”, Yuzhou Commercial provides customers with a comfortable and premium residential experience while realizing diversified innovation and development, as well as striving to strengthen business benefits
13
14
Hotel Operations - Vigorous development & growth
Xiamen Yuzhou Camelon Hotel Apartment - In operation
Xiamen Wyndham Grand Plaza Royale Hotel and Howard Johnson Residence
- Grand opening in 2H 2018 (est.)
Xiamen Tong’an Camelon Hotel and Spa - Grand opening in 2019 (est.)
Quanzhou Huian Hotel Project - In preparation
Hefei Feidong Hotel Project - In preparation
Wuhan Taizihu Hotel Project - In preparation
Focusing on the development of serviced apartments as well as medium-to-high-end business hotels in order to
establish premium hotel brands
Developing resort hotels while improving the existing hotel portfolio to strengthen the brand’s core competitiveness
Property Management Establishing a Distinguished Service System
Upholding the philosophy of “Customer First, Service Oriented “ under the management concept of
“Refinement, Professionalism, Integrity and Harmony”
Launched the “Royal Service“ luxury service system at all high-end sales offices under the theme of “Relax
your mind with a comfortable experience, enjoy the moment with our consistent service”, aimed at offering a
memorable, comfortable, enjoyable and consistent on-site experience
As at Jun 30, 2018
Cities Covered: 10
Managed Projects: 44
Managed Area: Approx. 12 mn sq.m.
No. of Flats: Approx. 100K
1H2018 Revenue: RMB158 mn, +35.18% YoY
Royal ·
Comfortable
Royal ·
Privileged
Based on different target customers, the system is divided into two
series (Royal·Comfortable, Royal·Privileged), while Property
Management provides three kinds of services (house keeping, circle,
and refined services). This allows clients to experience warmth,
pleasure and honor in our sales offices first to convey the notion that
Yuzhou Properties is a quality service provider.
15
2018 Best 50 China Real Estate Listed
Companies with Strongest Comprehensive Strengths (Rank 35th )
• By China Real Estate Research Association, China Real Estate Appraisal Center
2018 Best Chinese Real Estate Companies by Brand Value(Rank 39th)
• China Real Estate Chamber of Commerce, China Real Estate Business, China Real Estate Website, China Real Estate Think Tank
HS Composite Large Cap & Mid Cap Indexes
MSCI China Index
Expanding Branding Advantages
Named the Headquarters-level Key Bank Client by China Construction Bank
• Headquarter-level key clients serve as the core client base of China Construction Bank’s differentiated services with priority being provided to them in terms of service efficiency, credit access, credit approval, comprehensive pricing, project assessment, product innovation, resource allocation and other aspects.
• China Finance Summit
2018 Corporate Social Responsibility Exemplar Award
• The Economic Observer
The 15th China Blue Chip Real Estate Award
16
Financial Highlights A journey to 100 billion with highly-efficient operation
Yuzhou · Honor Glamour
Highlights of 1H2018
RMB bn 2018
As at 30 Jun
2017
As at 31 Dec Changes
Total equity 18.20 17.44 +4.35%
Cash on hand 25.09 17.50 +43.37%
Net gearing ratio 62.96%
(including senior perpetual securities 82.09%)
57.73%
(including senior perpetual securities 77.14%)
+5.23pp
RMB bn 1H2018 1H2017 Changes
Contracted sales 21.49 21.49 +0.03%
Recognized revenue 9.24 7.25 +27.54%
Gross profit margin 31.53% 32.95% -1.42pp
Net profit 1.39 0.76 +83.45%
Core profit 1.16 0.92 +25.90%
Interim Dividend
(HK cents/share) 11.0 8.5 +29.41%
18
97.08% 97.25%
1.71% 1.62%
1.11% 0.99%
0.09% 0.12% 0.01% 0.02%
1H2018 1H2017
OthersHotel operation incomeRental incomeProperty management fee incomeSales of property
Increasingly diversified revenue streams, with rising contributions from recurring rental income and property management
RMB mn 1H2018 1H2017 Changes
Sales of
properties 8,972.99 7,047.38 +27.32%
Property
management fee
income
158.31 117.11 +35.18%
Rental income 102.19 71.67 +42.58%
Hotel operation
income 8.64 8.87 -2.59%
Others 0.49 1.72 -70.41%
Total 9,242.62 7,246.75 +27.54%
100% = RMB 9,243 mn
100% = RMB 7,247 mn
19
Highlights of 1H2018 (Cont’d)
Xiamen 12.0%
Fuzhou 7.7%
Quanzhou 3.4%
Longyan 0.9%
Shanghai 18.6%
Hefei 36.1%
Nanjing 8.5%
Bengbu 0.4%
Tianjin 11.6%
Huizhou 0.8%
1,107
1,483 1,503
629 692
9,172 9,000
14,118
11,204 12,574
0
4,000
8,000
12,000
16,000
0
200
400
600
800
1,000
1,200
1,400
1,600
FY2015 FY2016 FY2017 1H2017 1H2018
Recognized GFA ASP
GFA ‘000 sq.m.
ASP RMB/ sq.m.
3,418 4,019 7,047 8,973
6,740 9,327
14,166
0
5,000
10,000
15,000
20,000
25,000
FY2015 FY2016 FY2017 1H2018IH 2H
RMB mn
*After tax
Recognized GFA & ASP
Recognized GFA by city
Analysis on Recognized Property Sales
Recognized property sales*
Recognized sales by city
20
Xiamen 10.0% Fuzhou
5.7%
Quanzhou 7.6%
Longyan 3.7%
Shanghai 8.8% Hefei
39.5%
Nanjing 4.8%
Bengbu 1.1%
Tianjin 17.8%
Huizhou 1.0%
20,083
25,787 27,567
36,548
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
2015 2016 2017 2018
Strong Balance Sheet
RMB mn
Total Debt
Total Equity
Cash Position
Total Assets
11,949
17,418 17,498
25,087
0
5,000
10,000
15,000
20,000
25,000
30,000
2015 2016 2017 2018
RMB mn
52,846
68,861 79,905
103,728
0
20,000
40,000
60,000
80,000
100,000
120,000
2015 2016 2017 2018
RMB mn
10,241 11,673
17,443 18,202
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2015 2016 2017 2018
RMB mn
21
As at 31 Dec As at 30 Jun As at 31 Dec As at 30 Jun
As at 31 Dec As at 30 Jun As at 31 Dec As at 30 Jun
RMB, 63%
HK$, 3%
US$, 34%
18,845
7,703
10,000
Sustained a manageable net gearing ratio, with successful financing measures that further reduced the average funding cost
Moody’s, S&P and Fitch retained our ratings at Ba3, BB- and BB- respectively
Golden Credit Rating International and China Chengxin Securities Rating issued AA+ rating respectively
Stable Financial Position & Diversified Financing Channels
Low Weighted Average Financing Cost
7.00
6.08
6.52
5.00
6.00
7.00
8.00
FY2015 FY2016 FY2017 1H2018
%
Proportion of Foreign Currency Debt
1H2018 FY2017
Onshore 6.77% 6.41%
Offshore 6.21% 5.57%
Weighted Average
6.52% 6.02%
6.02
Optimized Financing Structure (RMB mn)
Bank and other loans Due within first year: 7,406 mn In the second year: 5,334 mn In the third to fifth year: 5,480 mn Beyond fifth year: 625 mn
Senior notes Due in 2021:3,773 mn Due in 2022:2,293 mn Due in 2023:1,637 mn
Corporate bonds Due in 2018: 2,000 mn Due in 1H2019: 2,000 mn Due in 2H2019: 3,000 mn Due in 2020: 3,000 mn
22
(RMB bn) 1H2018 FY2018E
Cash Inflow
Cash proceeds from contracted sales and other income +17.5 +37.3
Cash Outflow
Land premium paid -10.6 -21.3
Construction cost capex -4.5 -9.0
Other expenses – Interest, tax, dividends and others -4.4 -10.2
1H2018 Cash Position
23
Market Outlook
25
Tightened Industry
Policies Normalized
We expect regulation to become the norm during the second half of 2018 in order to stabilize the market with local regulation entering a fine-tuning stage.
Rational Land Market
With a price cap policy in place and a tightening of funds, the investment and land acquisition strategies for major real estate enterprises in the second half of the year will become increasingly rational.
Tightening Financing
Environment
Cornerstone monetary policies remained stable and neutral. As a result small-size real estate enterprises will encounter financing difficulties under this environment while larger firms will enjoy incomparable advantages due to diversified financing channels and sound credit ratings, which will further increase industry consolidation.
Steady Growth Period
Relying on greater civil development, demand in the real estate industry will continue to be strong. Policy normalization will lead the entire sector into an era of steady growth.
Strategies for 2H2018
26
Maintain a balance between profit,
scale and risk to ensure quality
growth and maximized corporate
value, as well as protecting
shareholders’ interests.
Operational Strategy
In line with industry trends,increase M&A opportunities to obtain land at low prices and strengthen business cooperation.
Win-win Cooperation
High Quality Products Strictly control quality with standard landscaping, building as well as mechanical and electrical fixtures. Further enhance building quality and delivery levels. High quality products have laid a solid foundation for Yuzhou’s trusted brand reputation.
Nurture new staff with a comprehensive internal training system, and retain employees with a generous incentive system and positive work atmosphere.
Talent Cultivation
Always maintain diversified financing channels. Explore and aim to adopt innovative financing tools. Company is now better poised to contribute to the Group’s overall sustained and steady development.
Financing Channels
Focus on first- and second-tier cities and their surrounding satellite cities that offer tremendous growth potential. Invest in potential projects and locations with attractive prices.
Land Acquisition
High Quality & Abundant Saleable Resource
Confident of achieving full year target of RMB60billion in contracted sales for 2018
2018 Total Saleable Resource Amounts to 92bn 2H2018 Accumulated Saleable Resource Amounts to
70.5bn and breakdown by City
Xiamen, 12.74%
Quanzhou, 3.17%
Fuzhou, 6.49%
Hefei, 10.50%
Shanghai, 8.84%
Tianjing, 5.45% Longyan, 0.02% Suzhou, 11.47%
Hangzhou, 6.77%
Bengbu, 0.69%
Nanjing, 14.54%
Yangzhou, 1.70%
Zhangzhou, 2.74%
Huizhou, 0.59%
Hubei, 6.22%
Zhengzhou, 1.97%
Shenyang, 0.46%
Chongqing, 3.35% Qingdao, 1.97%
Foshan, 0.33%
0% 20% 40% 60% 80% 100%
Old Projects
18%
1H2018 Saleable Resource
35%
New Projects 82%
2H2018 Saleable Resource
65%
27
Key Projects in 2H2018
• The center of the south area of Qiantan, gifted with the largest wild wetlands/Central Park in Shanghai, and regarded as an oriental aesthetics masterpiece
• GFA: 174,826 sq.m.
• Unit size: 85 - 145 sq.m.
• Land cost: RMB 13,242/sq.m.
• ASP: ≈RMB 35,000/sq.m.
• Located in Tianjing Binhai New Area with complete supporting facilities including education, education, health care, recreation and other living facilities and landscape resources
• GFA: 76,296 sq.m.
• Unit size: 85 - 115 sq.m.
• Land cost: RMB 4,456/sq.m.
• ASP: ≈RMB 17,000/sq.m.
• Located in the core area of Tiexin bridge communities, Yuhuatai district, Nanjing. This project is a TOD urban complex above subway station in Nanjing main urban area with high-end residential buildings, commercial center and public facility
• GFA: 61,152 sq.m.
• Unit size: 89 - 129 sq.m.
• Land cost: RMB 11,610/sq.m.
• ASP: ≈RMB 35,000/sq.m.
• Located in West Lake District, Hangzhou, Zhejiang, and being connected by Zhijiang Bridge and Zizhi tunnel with the main city. This project has convenient transportation and complete supporting facilities and is in the most livable urban area
• GFA: 298,733 sq.m.
• Unit size: 89 - 140 sq.m.
• Land cost: RMB 13,738/sq.m.
• ASP: ≈RMB 30,000/sq.m.
Shanghai Yuzhou Noble Mansion (上海 禹洲·雍賢府)
Hangzhou Yuzhou Riverside Sapphire (杭州 禹洲·濱之江)
Tianjin Yuzhou Joy Country (天津 禹洲·悅府)
Nanjing Yuzhou Honor Galaxy (南京 禹洲·嘉薈星島)
28
Key Projects in 2H2018
• Located in Wuhan’s economic and technological development zone, on the Jiangcheng and Taizi North Roads. Supporting facilities include a well-developed shopping mall. Taizi Lake and golf courses.
• GFA: 598,179 sq.m.
• Unit size: 95 - 165 sq.m.
• Land cost: RMB 6,000/sq.m.
• ASP: ≈RMB 20,000/sq.m.
• Located in the core area of Lingang harbour city , next to Jiulong Fengxi Lake and Yangzhou Zijing eco-center, north of Sports park with abundant education resources
• GFA: 174,100 sq.m.
• Unit size: 87 - 135 sq.m.
• Land cost: RMB 1,838/sq.m.
• ASP: ≈RMB 9,000/sq.m.
• Located in the core area among Yaohai, Xinzhan and Luyang district. The location advantage and surrounding facilities are unparalleled. Yuhzou updated the high-rise product, which aim to build a high-end communities in Hefei
• GFA: 144,923 sq.m.
• Unit size: 90 - 122 sq.m.
• Land cost: RMB 4,830/sq.m.
• ASP: ≈RMB 14,800/sq.m.
• Located in High-tech zoon, Suzhou, next to central ring express, north of Dayang hill ecopark, east of Suzhou Science & Technology Town (SSTT) . Complete surrounding facilities and shopping mall
• GFA: 221,847 sq.m.
• Unit size: 99 - 107 sq.m.
• Land cost: RMB 8,866/sq.m.
• ASP: ≈RMB 20,000/sq.m.
Wuhan Taizi Lake Project (武漢 太子湖項目)
Suzhou Yuzhou Honor Hill (蘇州 禹洲·嘉譽山)
Yangzhou Yuzhou Honor Glamour (揚州 禹洲·嘉譽風華)
Hefei Yuzhou Sky Aqua Mall (合肥 禹洲·天河茂)
29
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Xiamen
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
31
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
2,246
1,248 1,554
1,735 2,024 1,813 1,428
968
2,622
4,777 4,490
3,144 3,516
2,731
1,505
547 3,399 3,479 11,972
11,532 5,829
28,769 25,658
21,485
13,905 13,482 15,701 19,848 20,535
26,518
34,375 35,668
0
10,000
20,000
30,000
40,000
0
1,000
2,000
3,000
4,000
5,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
239
166 142 117
83 93 71 72
401
168
81 103 67 68
117 151
118 90
66 78 85 68 119
68
28,761 28,116
26,914
31,316
37,283
31,520 31,536
39,151
33,567
33,693
35,266
35,271
38,282 33,377
32,178
35,292
34,105
35,355
36,371
39,219
29,609 31,942
35,080 36,609
0
10,000
20,000
30,000
40,000
50,000
0
100
200
300
400
500
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
31
Xiamen Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Fuzhou
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
32
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
3,850
3,135
4,948
2,176 2,526
2,793
4,068
2,587 1,875
2,524 2,764 2,410
3,023 2,652
1,501
853 4,490 3,060 11,972 3,900 10,749 10,088 10,517
12,315 14,231 14,188 16,372
16,552 14,910
16,879
21,636 23,381
0
10,000
20,000
30,000
40,000
0
1,000
2,000
3,000
4,000
5,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
216
280
339
160
68
116 80
104 148
53 61 79 96
127 152
187 171
236
165 128 133
113 74
97
16,888
18,263 18,551
18,984 19,497
18,546
16,942
16,187
17,037
18,751
20,347
18,680
22,414 24,965
24,397
21,926 25,376
23,675 23,433
23,014
23,057
22,508
22,904 24,934
0
5,000
10,000
15,000
20,000
25,000
30,000
0
100
200
300
400
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
32
Fuzhou Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Shanghai
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
33
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
15,526
10,319
15,058
10,494 11,450
7,889
10,976
4,688
7,278 9,342
12,800
9,713
14,973 13,917
6,392
3,359 3,840 4,125 11,972 9,041 9,779
17,261 8,973
9,220
22,413 22,594
24,253 27,212
32,001 38,283
47,865 48,878
0
10,000
20,000
30,000
40,000
50,000
60,000
0
5,000
10,000
15,000
20,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
1,314
1,870
1,038 868
603 663
387 361
742 672 709 685 670 461 530
335 374 465 501
203
489 462 548 437
37,357
42,475
44,893 44,042
46,545
40,794
48,205
47,244
48,014
47,682
48,276
47,623
46,189 48,958
45,989
48,790
49,214
49,543 43,799
43,166
45,741
46,810
51,614 51,654
0
10,000
20,000
30,000
40,000
50,000
60,000
0
500
1,000
1,500
2,000
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
33
Shanghai Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Hefei
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
34
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
13,489
19,698 21,324 22,377
15,895 18,040
10,883 8,394
4,519 8,167
12,319 9,240 9,147 9,211
4,073 5,699
1,641 1,468 11,972 2,050 3,509
8,839
6,561 5,748 6,854 6,472 6,722
7,672 8,500 11,178
12,666 14,305
0
3,000
6,000
9,000
12,000
15,000
0
5,000
10,000
15,000
20,000
25,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
818 1,013 1,031
522
236 341
216 211 209 219 265 229
405 435 552
436 587
305
711
283 169
1,321 1,352
915
12,002 11,689
14,034
12,365
13,686
11,283
11,693
13,228
13,873 13,486
11,560
12,672
11,557
11,617
11,894
11,690 14,295
15,125 13,696
13,160
14,739
12,742
15,005 14,911
0
4,000
8,000
12,000
16,000
0
300
600
900
1,200
1,500
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
34
Hefei Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Nanjing
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
35
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
13,108
9,442
12,232 12,819 11,086 9,871
8,566 6,117
4,499
7,708 10,001
8,615
12,787 15,860
8,869
4,760
2,711 3,376
11,972 4,070
7,180 14,630
12,675
7,907
10,991
10,967
12,252 13,804
15,140
18,913
21,601 22,856
0
5,000
10,000
15,000
20,000
25,000
0
5,000
10,000
15,000
20,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
1,460 1,208
1,556
941 797
610 616
337
649 723 1,001 860 833
488
915
533 676
1,239 994
394 451 657 635 565
20,782 20,019
21,573
20,664 21,009
20,607
20,764
21,107
20,187
20,878
20,955
21,151
22,063
21,519
24,899 20,931
23,417
20,734 23,506
21,732
22,324
20,167
20,634 22,450
0
5,000
10,000
15,000
20,000
25,000
30,000
0
500
1,000
1,500
2,000
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
35
Nanjing Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Hangzhou
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
36
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
6,561 7,079
14,898
7,412 7,056
10,275 11,871 10,429
3,842
8,197 8,663 8,903
12,867
18,673
15,109
7,903
4,969 6,071 11,972 7,263 8,085 13,388
16,086 17,223 16,619 14,581 16,663 15,484 15,878 17,313
22,987 26,102
0
5,000
10,000
15,000
20,000
25,000
30,000
0
5,000
10,000
15,000
20,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
1,728
1,637
2,380
1,552
807 994
716 652
1,604
1,131 1,000
1,923 1,538 1,515
1,312 979 984
1,749 1,605
690
1,127 945 821
1,436 16,382
18,143
18,604
18,983 17,208
18,857
19,143 19,441 19,823
20,063
20,028
22,618 24,635
25,330
25,110 28,106
26,561
22,831
25,296
26,530
25,239
26,255
26,819 27,447
0
5,000
10,000
15,000
20,000
25,000
30,000
0
500
1,000
1,500
2,000
2,500
3,000
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
36
Hangzhou Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Suzhou
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
37
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
7,197
11,849 10,570 9,523 9,112
12,333
10,608
3,403 4,031
6,410 8,089
7,701
11,763 12,677
8,716
4,438
3,993 2,693 11,972 3,905 6,596
13,251 11,448
10,581 12,329 11,226 11,888 12,116
13,163
17,355 18,621 19,460
0
5,000
10,000
15,000
20,000
25,000
0
3,000
6,000
9,000
12,000
15,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
821
954
1,672
829
391 457 444 459
929 749 642
1,084 753 644 746 718 764 784 639
374 508
637 617 828
18,065
17,130 18,238 20,654 20,682
19,404 17,516
18,540 19,096
18,877
19,852
18,174
18,254
19,355
17,923
18,338
18,485
18,897
19,040
19,201
18,684
19,491
19,700 19,488
0
5,000
10,000
15,000
20,000
25,000
0
500
1,000
1,500
2,000
2,500
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
37
Suzhou Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Wuhan
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
38
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
34,506
45,231
22,762 26,290 23,212 23,237
28,463
12,199 8,289 10,856
14,807 16,255 21,468
28,798
18,263
8,358 1,898 1,831 2,276 2,178 3,267 5,060 5,076
4,051
7,430 7,152 7,093 7,796
8,810 9,432
10,031 9,631
0
3,000
6,000
9,000
12,000
0
10,000
20,000
30,000
40,000
50,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
2,270 2,747
1,979 2,094
2,448 2,276
1,292 990
1,845 1,662 1,511 1,493 1,494
1,249 1,496 1,651 1,533
2,048 1,735
585 1,008 1,090 1,161
1,633
9,414
9,295 9,678 9,427
9,804
9,616 9,876
9,602 9,763
10,059
10,227
10,382
10,291
10,690
9,824
10,396
9,728
9,648
9,611
9,518
9,552
9,667
9,721 9,593
0
2,000
4,000
6,000
8,000
10,000
12,000
0
1,000
2,000
3,000
4,000
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
38
Wuhan Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Tianjin
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
39
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
25,895
17,040 18,205 13,218
9,017
17,588
12,490 10,096 8,865 8,888
11,819 9,566
13,561
23,321
13,786
3,590 1,974 2,674 2,276 5,039 5,766 8,796
10,315 7,782
9,347 10,061 10,218
10,553 11,546 13,458
15,670 15,921
0
5,000
10,000
15,000
20,000
0
5,000
10,000
15,000
20,000
25,000
30,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
1,821 2,012 1,901 2,316
1,984 2,068
760 763
2,071
953 1,235 1,478 1,276
1,065 1,167 954 989 1,074
582 370
756 634
1,248
12,596 12,602
14,464 14,787 15,647
16,350 14,934
16,799 17,117
14,770
15,091
15,811
15,396
15,563
14,623
15,285
15,691
15,762
15,291 16,607
15,927
16,077
15,929
0
5,000
10,000
15,000
20,000
0
1,000
2,000
3,000
4,000
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
39
Tianjin Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Huizhou
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
15,004
8,561 7,994 6,847
4,695
2,495 1,693 2,780
6,401 7,328 6,409
9,093
653 753 2,276 1,019 2,050
1,868
6,712 6,808 6,350 7,573
11,183
10,599
0
3,000
6,000
9,000
12,000
0
3,000
6,000
9,000
12,000
15,000
18,000
2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
506 641 595 820
385 368 381 355
792 609 574
410 241 330 437 501
823 956 999
711
1,049 1,189
2,216
1,414
7,482
7,737 7,934 8,286 8,409
10,032
9,798
12,087 11,966
11,819
11,978
11,487
10,671
11,201
12,054
10,899
10,585
10,133
9,355 10,519
10,025 10,086 10,791 11,555
0
3,000
6,000
9,000
12,000
15,000
0
500
1,000
1,500
2,000
2,500
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
40
Huizhou Real Estate Market Overview
Monthly Transaction Volume and ASP of Residential Properties
Residential Land Supply and Property Transactions – Shenyang
Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)
Source: CRIC, residential housing (excluding subsidized housing)
'000 sq.m
'000 sq.m.
RMB/sq.m.
RMB/sq.m.
44,567 40,377
32,758
11,825
4,784 6,128 4,916 5,104
13,739 11,068
14,233 11,128
13,712 14,879 15,879 8,686
1,508 1,518 2,276 2,160 1,866 2,727
4,971 4,680
6,383 7,112 7,189 7,003
6,450 7,022
7,909 8,833
0
3,000
6,000
9,000
0
10,000
20,000
30,000
40,000
50,000
2011 2012 2013 2014 2015 2016 2017 1H2018
Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.
Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.
1,020 1,232
1,642 1,557 1,624 1,462
590 804
1,438
1,848 1,762
1,563 1,553
1,028
1,468 1,202 1,268 1,354
920
444
1,039
1,522 1,333 1,446
7,163
7,058 7,477 7,393
6,866 6,917
7,347
7,353 7,543 7,565 7,792
7,561
8,566
7,304
8,165
8,387
8,372
8,472
8,258
8,050
8,472 8,894
8,794
0
3,000
6,000
9,000
0
500
1,000
1,500
2,000
2,500
3,000
Jul-16 Aug-16 Sep-16 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18
Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.
41
Shenyang Real Estate Market Overview
1H2018 Key Financials
1H2018 1H2017 Changes
Revenue (RMB’000) 9,242,624 7,246,747 +27.54%
Gross profit (RMB’000) 2,914,092 2,387,975 +22.03%
Gross profit margin (%) 31.53% 32.95% -1.42pp
Core profit (RMB’000) 1,158,064 919,831 +25.90%
Core profit margin (%) 12.53% 12.69% -0.16pp
EPS (RMB fen/share) 30.55 20.57 +48.52%
CEPS (RMB fen/share) 27.67 24.09 +14.86%
42
1H2018 Key Financials (Cont’d)
(RMB’000) As at 30 Jun 2018 As at 31 Dec 2017 Changes
Total assets 103,728,142 79,904,817 +29.81%
Total liabilities 85,525,838 62,461,581 +36.93%
Total equity 18,202,304 17,443,236 +4.35%
Total cash 25,087,294 17,498,208 +43.37%
Total debt 36,547,535 27,567,486 +32.57%
Net debt 11,460,241 10,069,278 +13.81%
Net gearing ratio (%) 62.96%
(including senior perpetual securities 82.09%)
57.73% (including senior perpetual
securities 77.14%)
+5.23pp
43
These materials have been prepared by Yuzhou Properties Company Limited (the “Company”) solely for informational use during its presentation to current and/or prospective investors to provide an update on the business performance and development of the Company.
No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial or trading position or prospects. The information contained in these materials should be considered in the context of the circumstances prevailing at the time and is subject to change without notice and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of the Company nor any of its respective directors, officers, employees, affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss or damage howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials.
These materials and subsequent discussions may contain certain statements which would constitute "forward-looking statements”. Such forward-looking statements involve risks, uncertainties, future events and our future financial, operational, business or other performance, and are subject to a number of uncertainties and factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed by, or implied by, the forward-looking statements in these materials. There can be no assurance that the results and events contemplated by the forward-looking statements contained in these materials will in fact occur. You should not place undue reliance on these forward-looking statements, which reflect our belief only as of the date of this presentation. These forward-looking statements are based on our own information and on information from other sources we believe to be reliable. Past performance cannot be relied on as a guide to future performance.
This document does not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any holding company or any of its subsidiaries or an inducement to enter into any investment activity. No part of these materials, or the fact of its distribution or use, shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto.
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Disclaimer