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Rabu, 01 April 2020 06:19:00

Kaisa Group (1638.HK) Announces 2019 Annual Results

HONG KONG, - 31 March 2020 - Kaisa Group Holdings Ltd. ("Kaisa" or the "Company", SEHK stock code: 1638, together with its subsidiaries, the "Group"), a property developer established in Shenzhen with a countrywide foothold in China, is pleased to announce its annual results for year (The Year) ended 31 December 2019.
 
Mr KWOK Ying Shing (middle), Chairman; Mr LL TAM, Senior Advisor (right); and Mr Edward LAU (left), Chief Financial Officer, attending the webcast briefing of Kaisa Group's Annual Results 2019.

As of 31 December 2019, the Group's turnover rose by approximately 24.1% year on year to approximately RMB48,021.7 million and gross profit increased by 24.3% to approximately RMB 13,830.1 million whereas the gross profit margin for the year remained unchanged at 28.8%.

Profit for the year attributable to equity holders of the Company was approximately RMB4,594.3 million and basic earnings per share was RMB 75.6 cents, representing an increase of 67.1% and 66.9%, respectively. The Board recommended payment of a final dividend of 10 HK cents per share.
 
During the Year, contracted sales attributable to the Group was approximately RMB88.120 billion, representing an increase of 25.8% year on year, which met the annual sales target and hit the record high. Aggregated GFA sold for the year was 4,642,075 sq.m., representing an increase of 21.0% from 2018. The average selling price increased by 4.0% year-on-year to RMB 18,983.
 
Benefiting from the central government's policies in respect of the Guangdong-Hong Kong- Macao Greater Bay Area (the "Greater Bay Area") and the pilot demonstration area of Shenzhen, the Greater Bay Area market remained as the major contributor to the Group's sales during the Year, accounting for more than 60% of contracted sales.

As a leading enterprise in the urban renewal market in the Greater Bay Area, Kaisa capitalised on its premium resources in urban renewal and supplied the Group with quality urban renewal projects, which has laid a solid foundation for the growth of its sales volume.

During the Year, Kaisa's urban renewal projects such as Shenzhen Yantian City Plaza, Shenzhen Pinghu Kaisa Plaza, Shenzhen Kaisa Future City, Shenzhen Kaisa Dongmen New World and Shenzhen Bantian Kaisa City Plaza achieved satisfactory sales performance.

As of 31 December 2019, the Group had 176 real estate projects in 48 cities nationwide. The Group's land bank totaled 26.8 million sq.m., of which 13.6 million sq.m are in the Greater Bay Area, accounting for 51% of the Group's overall land bank. The Group's land bank in Shenzhen and Guangzhou, which are the core markets that the Group has intensively developed over the years, accounted for 35% of its land bank in the Greater Bay Area. (*)