Sunday, April 21 2019

VietNamNews

Contracted Sales of RMB19.04B in March 2019, YoY growth of 87% ; Contracted Sales of RMB34.41B in 1Q 2019, YoY growth of 27%

Update: April, 08/2019 - 03:40
HONG KONG, CHINA - Media OutReach  - 8 April 2019 - 

  • In March 2019, the Group achieved contracted sales of RMB19.04 billion, representing a YoY increase of approximately 87% (compared to March 2018). Contracted GFA amounted to approximately 1,028,900 sq.m. and contracted ASP was approximately RMB18,500/sq.m. in March 2019.
  • From January to March 2019, the Group achieved contracted sales of RMB34.41 billion, representing a YoY increase of approximately 27%. Contracted GFA amounted to approximately 1,937,000 sq.m. and contracted ASP was approximately RMB17,800/sq.m. from January to March 2019.
  • From January to March 2019, breakdowns of the Group's contracted sales were as follows:

By City

RMB (billion)

% of total

Beijing

5.33

15.5%

Shanghai

3.06

8.9%

Hangzhou

2.37

6.9%

Chongqing

2.36

6.9%

Wenzhou

1.51

4.4%

Wuhan

1.47

4.3%

Hefei

1.41

4.1%

Xian

1.34

3.9%

Suzhou

1.31

3.8%

Jinan

1.23

3.6%

Ningbo

1.09

3.2%

Shenyang

1.07

3.1%

Nanjing

0.96

2.8%

Wuxi

0.93

2.7%

Foshan

0.92

2.7%

Jiaxing

0.86

2.5%

Guangzhou

0.82

2.4%

Tianjin

0.77

2.2%

Linyi

0.70

2.0%

Hong Kong

0.69

2.0%

Changzhou

0.65

1.9%

Chengdu

0.59

1.7%

Changsha

0.58

1.7%

Qingdao

0.35

1.0%

Nantong

0.24

0.7%

Weifang

0.22

0.6%

Quzhou

0.20

0.6%

Xuzhou

0.20

0.6%

Sanya

0.19

0.6%

Guiyang

0.16

0.5%

Xuchang

0.13

0.4%

Others

0.70

2.0%


By Region

RMB (billion)

% of total

Yangtze River Delta

14.99

43.6%

Pan Bohai Rim

9.80

28.5%

Central Western Region

6.67

19.4%

South China Region

2.95

8.6%


Land Acquisition

  • In March 2019, the Group completed the following land acquisitions:


City

Project

Group's Current Equity Interest

Intended Primary Use

Site Area

(sq.m.)

Total Planned GFA Excluding Carpark (sq.m.)

Group's Attributable Consideration (RMB)

Average

Land Cost (RMB/

sq.m.)

Hefei

Feixi County,

No. 2018-26

Project

100%

Residential/

Commercial

142,100

307,100

1,766,120,000

5,751

Hefei

Xinzhan District, XZQTD237 Project

50%

Residential

54,800

82,200

267,070,000

6,500

Tianjin

Xiqing District, Jinwu Town, West Binshui Road Project

100%

Residential/

Commercial

142,400

287,800

3,638,000,000

12,640

Tianjin

Wuqing District, Nanhu No. 10 Project

100%

Residential

147,900

221,800

1,131,200,000

5,099

Qingdao

Huangdao District, Guzhenkou, Lingxi Bay Project

51%

Residential/

Commercial

232,500

302,200

558,380,000

3,623


Major Financing Activities

 

  • In March 2019, CIFI issued 5-year US$255 million senior notes at a coupon rate of 6.55% due March 2024. The issue was well received by the capital market. The coupon rate is one of the lowest among the China-based property developers with the same credit level recently.

 

S&P Upgraded CIFI's Rating to "BB" with "Stable" Outlook

 

  • In March 2019, Standard & Poor upgraded CIFI's rating from "BB-" to "BB" with "stable" outlook. S&P's upgrade suggests that CIFI significantly improved its scale of sales and geographical diversity in the past 2-3 years. The "stable" outlook reflects S&P's expectation that CIFI will continue to expand its sales scale with controllable leverage.


Disclaimer:

All information contained in this newsletter is meant for your own reference only, and is not intended to, nor should it, constitute any investment advice.  Any information contained in this newsletter, including those relating to contracted sales or land bank of CIFI Holdings (Group) Co. Ltd. (the "Company"), may be subject to change as a result of changes in our development, sales and investment processes and may not be consistently reflected in our financial reports. The Company expressly disclaims any liability for any of your loss or damage howsoever arising from or in reliance upon the contents of this newsletter. 

CIFI Holdings (Group) Co. Ltd.

Send Us Your Comments:

See also: