Greenland Hong Kong Disclosed its 2018 Annual Performance Report

Zhitong Finance APP was informed that on March 29, Greenland Hong Kong (00337) disclosed its 2018 annual performance report.

According to the financial report, the net profit attributable to shareholders of the company was approximately RMB 1.74 billion in 2018, a year-on-year increase of 32%; the core net profit was RMB 1.73 billion, a year-on-year increase of 32%; the gross profit margin increased from 25% in the same period of 2017 to 27%; RMB 0.61, a year-on-year increase of 33%; contracted sales totaled RMB 37.93 billion, cash remittance rate reached 80%, and the total contracted area of ​​the contracted sale was 3.28 million square meters. The Board of Directors proposes to pay a final dividend of HK$0.2 per ordinary share for 2018.

In 2018, the company achieved contracted sales of approximately RMB 37.925 billion, representing an increase of approximately 26% year-on-year; the corresponding contracted sales area was 3,275,200 square meters, an increase of approximately 44%; the average contract price was RMB 11,580 per square meter. Since 2013, the compound growth rate of Greenland Hong Kong contracted sales has reached 60%.

In view of the company’s performance, Moody’s and Standard & Poor’s both upgraded their rating outlook to stability (Ba2/BB-) for the first time.

Sales and profit double growth

Looking back at the first five years of Greenland Hong Kong, the company’s sales increased by 988% to 37.93 billion yuan, with a compound annual growth rate of 60%; asset size increased by 315% to 90.2 billion yuan; land reserve increased by over 100% to more than 2,000 Ten thousand square meters; net profit increased by 5876% to 1.98 billion yuan; the number of real estate professionals increased from 557 to 1,245, and the per capita sales increased from 5 million/person to more than 30 million/person.

In 2018, China’s real estate market is facing an unprecedented complicated situation. Regulatory measures such as restrictions on purchases and loans have brought unprecedented challenges to the operation of real estate enterprises. In this context, Greenland Hong Kong still achieved satisfactory sales results, with a cumulative contracted sales amount of 37.925 billion yuan and a return rate of 80%, which is higher than the peer average.

In 2018, the company achieved breakthrough growth in a number of operating indicators, achieving operating income of 15.444 billion yuan; net profit attributable to shareholders of the company was about 1.74 billion yuan, an increase of 32%; core net profit of 1.73 billion yuan, an increase of 32%; gross profit margin From 25% in the same period of 2017 to 27%; earnings per share was 0.61 yuan, an increase of 33%.

As of December 30, 2018, Greenland Hong Kong’s total assets were 90.23 billion yuan, an increase of approximately 31% year-on-year; total equity was 13.945 billion yuan. At the end of the period, the company’s interest-bearing debt balance was 18.5 billion yuan, of which 59% was long-term debt, 41% was short-term debt, and the weighted average financing cost was 5.2%, maintaining the industry low for five consecutive years.

The management of the company stated that Greenland Hong Kong always pays attention to the efficient turnover of the project and adheres to the “136” strategy, that is, within one month from the acquisition of the land to the start of the project, within three months from the acquisition of the land to the opening, the fund will be repaid in six months. At the same time, the company pays attention to the collection rate and improves the efficiency of capital use, thus ensuring the safety of cash flow.

Greenland Hong Kong said that the annual sales value of 2019 is about 70 billion yuan. The company has initially established a sales target of 50 billion contracts, which will further increase the market scale.

Give full play to product competitiveness and optimize national layout

In 2018, Greenland Hong Kong built the IP products with the theme of “creating a beautiful lifestyle” and formed six product series of Kangyang series, Wenlv series, art house series, TOD series, super high-rise series and experience commercial series. And in the past few projects last year, the first time to achieve better results.

In this regard, the company’s management said that the reason why Greenland Hong Kong can reach nearly 40 billion from 3 billion in five years is largely due to product competitiveness. In the future, the company will continue to consolidate this advantage. Increase the layout of the country.

From the national layout of Greenland Hong Kong, the project distribution is mainly concentrated in the Pan-Yangtze River Delta and the Greater Bay Area. Last year, Greenland Hong Kong added 11 new projects with a land reserve of 6.38 million square meters and an estimated value of 68.5 billion yuan.

As of December 31 last year, Greenland Hong Kong has a total land reserve of about 20 million square meters. It is distributed in 9 provinces across the country, and a total of 48 projects in 18 cities form a balanced and deep layout of the first, second and third tier cities to support the future. – 3 years of development needs.

In this regard, Chen Jun, Chairman of the Board of Directors of the company, said: Greenland Hong Kong will look for quality projects and land reserves in strong economic regions, increase the proportion of mergers and acquisitions, reduce the cost of land acquisition, and expand the Pan-Yangtze River Delta, Pan-Pearl River Delta region, and the southwest area. All the way to the radiation area and the main potential cities of Guangdong, Hong Kong and Macao Dawan District, promote the intercity space station, characteristic towns, industrial parks and other strategic projects, and strive to acquire 8-10 new projects, with a new value of 500-70 billion yuan. To lay a solid foundation for the 100 billion-scale real estate company.

Create a “real estate +” and light asset model to empower a better life

Over the years, Greenland Hong Kong has actively promoted its “real estate +” strategy while consolidating the main business of real estate development, and comprehensively deployed emerging industries such as medical and health care, cultural and business travel.

Zhitong Finance APP learned that on March 12, 2018, Greenland Hong Kong officially released the medical and health care strategy. The company said it would use the brand advantage to create a first-class life health service platform. On January 11, 2019, the Greenland Hong Kong Moran Fox Mansion was officially opened to the public. In addition, the medical and health care complex in Kunming will also be dedicated to building a complex residential and old-age community to lead the market.

In addition to medical and health care business, Greenland Hong Kong is still working on industrial real estate. On October 26, 2018, the company signed a strategic cooperation agreement with the national science and technology park, focusing on the close cooperation with science and technology, main body cultivation, and deep linkage of science and technology finance.

In addition, Greenland Hong Kong independently developed the Internet construction e-commerce procurement cloud platform – “consolidation” at the end of June 2018 public beta online, it is expected that by the end of 2018 there will be more than 500 suppliers settled in the platform, can achieve 30 – 5 billion annual turnover.

In this regard, Greenland Hong Kong said that the company is diversifying its business development around “Real Estate+”. It is a cross-industry investment and industrial integration around the real estate industry. It is an industrial layout around a good life and a whole life cycle. It is expected to promote green land in Hong Kong. Step out of a differentiated development path.

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Greenland Hong Kong Disclosed its 2018 Annual Performance Report - /10


Zhitong Finance APP was informed that on March 29, Greenland Hong Kong (00337) disclosed its 2018 annual performance report.

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