The company’s annual profit increased by 88%, interest 40 cents
Sino Land (00083) announced its full-year results as of the end of June, with a net profit of 13.996 billion yuan, an increase of 88.8% year-on-year. Earnings per share were 2.18 yuan, maintaining a final dividend of 40 cents per share. During the period, it sold Chengdu Xinhe for 10.511 billion yuan. 80% equity of Yulongshan Project, recorded a one-off gain of 5.653 billion yuan, and retained a fair value of 761 million yuan of 20% equity; deducting the fair value of investment properties and retaining letters. After the fair value gain of 20% of Yulongshan, the share of the basic operating profit attributable to shareholders was 11.05 billion yuan, an increase of 99.9%.
40% reduction in property sales
The company’s revenue last year was 10.73 billion yuan, down 41.5%. Among them, the total sales revenue of the property was 8.891 billion yuan, a decrease of 40.8%. The property sales revenue mainly comes from the sale of residential units, including Lang Ping 8 in Yuen Long, Yi Yi Garden in Sai Kung and Yi Yi Hai Hui, Jiu Yu Shan Shan and Bai Shi Kok Talent Bay. It is expected that the launch of the three pre-sale consents will be made in the second half of the year. The sale of the two projects will be carried out at Kowloon Road, Cheung Sha Wan, Tai Po Wan, Sheung Wan, and Sheung Wan Estate.
In terms of China’s mainland projects, the letter and the letter of Zhangzhou. Yulong Tianxia has a total of 1,268 residential units in the third phase. In the first half of this year, 327 people were sold and currently sold about 93%.
As of the end of June, the company had purchased two Hong Kong land plots and four project development rights from the Hong Kong government, accounting for 1.2 million square feet of floor space. Accumulated land reserves in Hong Kong, China, Singapore and Sydney account for a total floor area of approximately 21.9 million square feet. Among them, business accounted for 40%, residential accounted for 36.3%, industry accounted for 11%, parking lot accounted for 7.2% and hotels accounted for 5.5%.