Media-OutReach Newswire
Market ends flat on rising selling force
1.
For first eight months, contracted sales grew by 10% to RMB128.32 billion; cash collection exceeded RMB 120.00 billion
HONG KONG, CHINA - Media OutReach - 3 September 2020 - In August 2020, the Group achieved contracted sales of RMB25.60billion, representing a year-on-year increase of approximately 86%(compared to August 2019). GFA sold under contracts amounted to approximately1,816,500 sq.m. Contracted ASP was approximately RMB 14,100 per sq.m. in August2020.
From Januaryto August 2020, the Group achieved contracted sales of RMB128.32 billion,representing a year-on-year increase of approximately 10%. GFA sold undercontracts amounted to approximately 8,244,300 sq.m., Contracted ASP wasapproximately RMB 15,600 per sq.m. from January to August 2020.
LandAcquisition
InAugust 2020, the Group completed the following land acquisitions:
| City | Project | Group's Equity Interest | Intended Primary Use | Site Area (sq.m.) | Total Planned GFA (Excluding Carpark) (sq.m.) | Group's Attributable Consideration (RMB) | Average Land Cost (Excluding Carpark) (RMB/ sq.m.) |
| Changsha | Yuhua District, No. 2020-062 Project | 100% | Residential/ Commercial | 113,700 | 341,100 | 1,125,500,000 | 3,300 |
| Changde | Wuling District, Chang Guo Chu, No. 2020-20 Project | 100% | Residential/ Commercial | 184,800 | 542,200 | 1,165,730,000 | 2,150 |
| Chengdu | Shiqiao Town, Jianyang City, 47 Mu Project | 60% | Residential | 31,200 | 78,000 | 139,140,000 | 2,973 |
| Shanghai | Gumei North Community, Qibao Town, Minhang District, 27-01 Project Unit S110501 | 51% | Residential | 37,500 | 82,500 | 2,306,870,000 | 54,814 |
| Beijing | Renhe, Shunyi District, 6057 Project | 40% | Residential/ Commercial | 122,200 | 206,100 | 1,247,200,000 | 15,130 |
Company News
On14 August, the latest quarterly review of the Hang Seng Index Series wasannounced. CIFI will be included in theHang Seng Corporate Sustainability Index Series as a constituent with effectfrom 7 September 2020. This demonstrates the capital market's recognition ofthe Group's outstanding performance in sustainability. The Group's inclusion inthe index would also help to broaden its investor base, increase its stockliquidity, and enhance its investment value. Moreover, the Group has taken its environmental,social, and corporate governance ("ESG") practices to the next level.
On15 August, CIFI launched CIFI-7, the 7th generation product series. HUMAN SmartHealthy Living 2.0 Operating System, which is one of the Group's three majorproducts, was jointly developed by Alibaba's AIoT and the Group. It is thefirst time of achieving the integration of built-in appliances provided bydevelopers and the intelligent appliances subsequently installed by the houseowners.
15August 2020 marks CIFI's 20th anniversary. In the past 20 years, CIFI has beenserving its customers with dedication and forging ahead. In the next 20 years,CIFI will continue to work and grow together with those who give it theirsupport. CIFI will press on with its mission to "Build a better life", tryto excel itself and aim for greater achievements.
On18 August, CIFI acquired property development project in the start-up area inChengdong New District, Changde. It plans to build an iconic commercial complexthat will have total GFA of 2 million sq.m. and include a shopping mall. Thecommercial complex will be another city center of Changde city. The first phaseof the project will have GFA of 540,000 sq.m. according to the plot ratio andthe land cost per sq.m. of GFA is RMB2,150. ASP to land cost is over 4x. Theproject represents another significant achievement under CIFI's strategy ofacquiring land through diverse channels.
On28 August, the award presentation ceremony of "2020 Best Managed Companies" wasjointly organized in Hangzhou by Deloitte China, Bank of Singapore, Hong KongUniversity of Science and Technology Business School, and the Chinese editionof Harvard Business Review. CIFI won the title of one of the "2020 Best ManagedCompanies" as it stood out from the shortlisted leading companies in variousindustries. CIFI was also one of the only two property companies that won theaccolades.
