Financial Highlights

2020 2019 Year-on-Year Growth

Contracted?sales

Contracted?sales?(RMB'billion)? 231.0 200.6 15.2%
Contracted?GFA?(sq.m.) 15,385,100 12,035,500 27.8%
Contracted?ASP?(RMB/sq.m.) 15,000 16,700 -10.2%

Selected?financial?information?(RMB'million)

Recognized?revenue 71,799 56,451 27.2%
Gross?profit 15,609 14,116 10.6%
Profit?for?the?year?attributable?to?equity?owners 8,032 6,443 24.7%
Core?net?profit?attributable?to?equity?owners 8,026 6,903 16.3%

Selected?balance?sheet?data?(RMB'million)

Total?assets 379,299 324,855 16.8%
Bank?balances?and?cash 51,155 58,968 -13.2%
Total?indebtedness 104,715 103,699 1.0%
Total?equity 83,642 68,197 22.6%
Equity?attributable?to?equity?owners 36,052 30,199 19.4%
2020 2019

Selected?financial?ratios

Gross?profit?margin?(adjusted) 25.1% 29.7%
Core?net?profit?margin 11.2% 12.2%
Earnings?per?share?(basic),?RMB?cents 100 82
Core?earnings?per?share?(basic),?RMB?cents 100 89
Return?on?average?equity 24.2% 24.7%
Net?debt-to-equity?ratio,?at?the?end?of?year 64.0% 65.6%
Weighted?average?cost?of?indebtedness,???at?the?end?of?year 5.4% 6.0%

Land bank (GFA, million sq.m.)

Land?bank?(GFA,?million sq.m.),?at?the?end?of?year

-Total 56.5 50.7
-Attributable 30.8 26.5

New?land?acquisition???(GFA,?million sq.m.),?during?the?year

-Total 13.1 15.2
-Attributable 8.7 9.9

Glossary and Definitions

“Contracted sales” includes contracted sales by the Group’s subsidiaries, joint ventures and associated companies. Contracted sales data is unaudited and is based on internal information of the Group. Contracted sales data may be subject to various uncertainties during the process of collating such sales information and is provided for investors’ reference only.


“Core net profit” excludes fair value gains/losses, net exchange loss/gain, expenses relating to share option grants, loss on early redemption of senior notes, and share of fair value gains/losses and net exchange loss/gain at joint ventures and associated companies, net of deferred taxes.


"Bank balances and cash” include restricted bank deposits.

“Total indebtedness” includes bank and other borrowings, onshore corporate bonds, convertible bonds and offshore senior notes.


“Core net profit margin” is calculated based on core net profit attributable to equity owners over total recognised revenue.


The calculation of “return on average equity” is based on our core net profit divided by average equity attributable to equity owners for each financial year.


“Net debt-to-equity ratio” is calculated by the Group’s total indebtedness under IFRS less bank balances and cash (including restricted bank deposits) as a percentage of total equity at the end of each financial year.


“Weighted average cost of indebtedness” is the weighted average of interest costs of all indebtedness outstanding as at the end of each financial year.


The expression “we”, “us” and “our Company” may be used to refer to our Company or our Group as the context may require.


References to our “land bank”, “development projects”, “property projects” or “projects” refer to our property projects with land for which we have obtained land-use rights and property projects for which we have not obtained land-use rights but have entered into the land grant contracts or received successful tender auction confirmations as at the relevant dates.


The site area information for an entire project is based on the relevant land use rights certificates, land grant contracts or tender documents, depending on which documents are available. If more than one document is available, such information is based on the most recent document available.


The figures for GFA are based on figures provided in or estimates based on the relevant governmental documents, such as the property ownership certificate, the construction work planning permit, the pre-sale permit, the construction land planning permit or the land use rights certificate.


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tousu@cifi.com.cn
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