HONG KONG SAR – Media OutReach – 8 April 2021 –
- In March 2021, the Group achieved contracted sales of approx. RMB26.00 billion, representing a YoY increase of approx. 157% (compared to March 2020). Contracted GFA amounted to approx. 1,491,900 sq.m. and contracted ASP was approx. RMB17,400 / sq.m. in March 2021.
- In the first quarter of 2021 (from January to March), the Group achieved contracted sales of approx. RMB56.70 billion, representing a YoY increase of approx. 153%. Contracted GFA amounted to approx. 3,401,100 sq.m.. Contracted ASP was approx. RMB 16,700/sq.m. in the first quarter of 2021.
- In the first quarter of 2021, the distribution of the Group’s contracted sales:
City | RMB (Billion) | Percentages of total sales |
Beijing | 4.31 | 7.6% |
Chongqing | 3.54 | 6.3% |
Hefei | 3.29 | 5.8% |
Wenzhou | 3.22 | 5.7% |
Suzhou | 3.16 | 5.6% |
Wuxi | 2.76 | 4.9% |
Changsha | 2.76 | 4.9% |
Wuhan | 2.75 | 4.9% |
Hangzhou | 2.60 | 4.6% |
Xiamen | 2.30 | 4.1% |
Fuzhou | 1.87 | 3.3% |
Ningbo | 1.87 | 3.3% |
Qingdao | 1.81 | 3.2% |
Xi’an | 1.78 | 3.1% |
Nanjing | 1.44 | 2.5% |
Chengdu | 1.27 | 2.2% |
Shanghai | 1.23 | 2.2% |
Jinhua | 1.17 | 2.1% |
Wuhu | 1.10 | 1.9% |
Jinan | 1.05 | 1.9% |
Huzhou | 1.05 | 1.9% |
Changzhou | 0.92 | 1.6% |
Luoyan | 0.82 | 1.4% |
Tianjin | 0.77 | 1.4% |
Foshan | 0.65 | 1.2% |
Nantong | 0.64 | 1.1% |
Nanchang | 0.59 | 1.0% |
Dongguan | 0.54 | 0.9% |
Yinchuan | 0.45 | 0.8% |
Changde | 0.37 | 0.6% |
Taizhou | 0.31 | 0.5% |
Taiyuan | 0.30 | 0.5% |
Suqian | 0.27 | 0.5% |
Zhengzhou | 0.26 | 0.5% |
Quanzhou | 0.23 | 0.4% |
Shijiazhuang | 0.23 | 0.4% |
Weifang | 0.22 | 0.4% |
Yantai | 0.22 | 0.4% |
Dalian | 0.21 | 0.4% |
Others | 2.37 | 4.2% |
Land Acquisition
- In March 2021, the Group completed the following land acquisitions:
City | Project | Group’s equity interest | Intended primary use | Site area (sq.m.) | Total planned GFA (excl. carpark) (sq.m.) | Group’s attributable consideration (RMB) | Average land cost (excl. carpark) (RMB/ sq.m.) |
Dalian | Development Zone, Xiaoyaowan Area Project | 100% | Residential | 29,900 | 65,800 | 219,790,000 | 3,338 |
Changsha | Yuelu District, Project 2021-007 | 70% | Commercial / Residential | 131,400 | 262,800 | 735,810,000 | 4,000 |
Ningbo | Cicheng District, Cixi City Project | 50% | Commercial / Residential | 84,800 | 169,600 | 761,150,000 | 8,978 |
Suzhou | Xiangcheng District, Taiping Street, Shengze Danghu Road Project | 40% | Residential | 45,600 | 47,900 | 219,000,000 | 11,426 |
Company News
- On March 1, CIFI redeemed an aggregate principal amount of approx. US$247 million of the outstanding senior perpetual capital securities which were issued on 20 December 2017. With the accumulative interest accrued to the date of redemption, the total amount paid was approx. US$254 million. The total issue size of the senior perpetual capital securities was US$300 million and at a coupon rate of 5.375%. As of 2 March 2021, this senior perpetual capital securities had been fully redeemed by the Group.
- On March 2, CIFI announced the redemption of senior notes due 2 March 2021 in full at outstanding principal amount of approx. US$240 million. Together with interest accrued to the maturity date, the total amount paid at maturity was approx. US$250 million. The senior notes were originally issued on 3 January 2019 with a coupon rate of 7.625%, and the senior notes worth US$400 million had been partly redeemed through the period.
- On March 10, CIFI issued first corporate bonds in 2021 of RMB1.448 billion at a coupon rate of 4.40% with tenor of 3+2 years, which reflected CIFI’s advantages in both onshore and offshore capital markets.
- On March 16, CIFI ranked the 1st in the “2021 China Real Estate Development Enterprise Top 10 Steady Operation” and was ranked 13th in the “2021 China Real Estate Development Enterprise Top 20 Comprehensive Strength” in the “2021 Comprehensive Strength of China Real Estate Enterprises Evaluation Results Release Conference” organized by China Real Estate Association and Shanghai E-House Real Estate Research Institute China Real Estate Evaluation Center, which the Group’s results and performance were highly recognized.
- On March 25, CIFI announced its 2020 annual results. Total profit grew by 28.7% to RMB11.9 billion which exceeding RMB10 billion for the first time of the Group. Core net profit to equity owners of the Company increased by 16.3% to a new record high of RMB8.03 billion. The Group proposed a final dividend of RMB24.3 cents (equivalent to 29 HK cents) per share, an increase of 10.8%. Total dividends for the year amounted to RMB34.1 cents (equivalent to 40 HK cents) per share with a year-on-year growth of 5.3%, while the total accumulated dividends since IPO were HK$1.84 per share.
- CIFI arranged large-scale investor live webcast presentation and several small group meetings with over 500 investors and analysts attended. After the meetings, more than 30 international and onshore investment institutions issued research reports, among which a total of 26 institutions maintained or upgraded their “BUY” rating on CIFI.
- CIFI’s first Bay Mansion project in Fujian Province, CIFI Bay Mansion·Wuyuan Bay, is located in the Wuyuan Bay area, and contains a full range of living facilities, commercial facilities, business facilities and natural resources. The project first launched on March 30 with encouraging market response, achieving contracted sales of RMB3.0 billion, reflecting the strong product capability and brand recognition of CIFI.
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.