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Datang Announces 2021 Interim Results, Net Profit increased by over 200% to RMB211 Million

Financial Review

(RMB’000)

For the six months ended 30 June

2021

2020

Change (%)

Revenue

3,306,534

1,785,418

+85.2%

Gross Profit

1,023,937

416,448

+145.9%

Net Profit

217,049

89,971

+141.2%

Profit Attributable to Owners of the Company

244,370

72,987

+234.8%

Basic Earnings Per Share (RMB)

0.18

0.07

+157.1%

HONG KONG SAR – Media OutReach – 26 August 2021 – Chinese property developer ─ Datang Group Holdings Limited (“Datang” or the “Company”; together with its subsidiaries, the “Group”; HKEx stock code: 2117) has announced the unaudited interim results for the six months ended 30 June 2021 (the “Period”) today.

During the Period, the Group achieved encouraging results with a stable growth in revenue. Revenue increased by 85.2% year on year to RMB 3.307 billion; gross profit amounted to RMB 1.024 billion, representing an increase of 145.9% year on year. The increase in gross profit was mainly attributable to the increased number of projects delivered during the Period, which included several projects with higher gross profit. The projects have increased the gross profit margin to 31.0%, which is a 7.7 percentage points higher than the same period last year. Net profit amounted to RMB 217 million with a year-on-year growth rate of 141.2%. Profit attributable to owners of the Company increased significantly by 234.8% to approximately RMB 244 million. Basic earnings per share were RMB 0.18. The board of directors of the Company has resolved not to declare an interim dividend for the Period (2020: Nil).

In the first half of 2021, the Group followed the geographical layout of “2+1+X”, which focused on the Beibu Gulf Economic Zone, consolidated the existing layout in the urban agglomerations of the Western Taiwan Strait Economic Zone, and established a relatively stable economies of scale. Meanwhile, the Group seized the opportunity of relocating the headquarters to Shanghai, by expanding quickly in the Yangtze River Delta region, as well as successively entered core cities with economic vitality. The Group has strengthened strategic cooperation with leading companies in the industry, all of which will lay a solid foundation for the Group to become a national comprehensive real estate corporation. During the Period, the Group’s contract sales amounted to approximately RMB25.51 billion, and the contracted sales area was approximately 2.491 million sq.m..

The Group prudently adopted land acquisition methods such as public bidding, auction and listing, and by forming joint ventures, the Group obtained a total of 19 high-quality land parcels with a total planned gross floor area (“GFA”) of 2.93 million square metres (“sq.m.”), the total land reserve maintained a steady growth. As of 30 June 2021, the total GFA of the Group’s land reserve was approximately 22.00 million sq.m., among which the GFA of properties under development was approximately 20.99 million sq.m., the GFA of completed but undelivered properties was approximately 0.85 million sq.m., and the rentable GFA for property investment was approximately 0.16 million, providing sufficient support for future development.

Besides property development business, the Group has businesses in investment and operation of commercial properties and hotel operation, thus diversifying the Group’s businesses. For the six months ended 30 June 2021, the Group achieved a rental income of approximately RMB 56.1 million, representing an increase of 157.8% compared to the same period of 2020. The increase was mainly attributable to the improvement of the performance of the commercial operations. Also, the Group achieved revenue from hotel operation of approximately RMB30.1 million, representing an increase of 158.4% compared to the same period of last year. The increase was mainly attributable to the improvement in business performance of hotel.

While the performance has grown steadily in the first half of 2021, the Group’s capital structure has also been significantly optimized. As of 30 June 2021, the net gearing ratio was 47.7%, and the cash to short-term debts ratio was 1.2 times, maintaining at a stable level. The Group had sufficient cash of approximately RMB7.98 billion cash and bank balances, reflecting that the Group has sufficient working capital and is in a healthy financial position.

In view of the steady operating and financial performance, the Group obtained long-term credit ratings from various credit rating agencies for the first time. Moody’s has assigned the Group a “B2” credit rating with a stable outlook while Standard & Poor has assigned the Group a credit rating of “B” with a stable outlook.

Looking ahead to the second half of 2021, Mr. Wu Di, the chairman of the Group concluded, “the Group expects that the land market will cool down under the implementation of various policies. With the continuous strengthening of financial supervision in the real estate market, the amount of new loan facilities may be limited in the second half of the year, and mortgage interest rates in some cities will rise. The tightening of the overall credit environment may affect the sentiment of the property purchases to a certain extent. The Group will continue to uphold the principle of seeking progress while maintaining stability, maintain bottom-line thinking, and balance and predict development and risks. On one hand, we will adhere to the strategy of deploying urban agglomerations and cultivating metropolitan areas. We will remain cautious with a positive attitude, and adhere to diversified land acquisition methods. On the other hand, we will continue to focus on customers, continue to improve the quality of service and customer satisfaction. We will continue to improve the level of financial and cost management in accordance with the requirements of the capital market, while maintaining high transparency and good corporate governance, and continuously improving the operating capabilities of the Group. In addition, the Group will continue to adopt the friendly platform strategy, explore opportunities to provide equity interests to attract strategic investors, platform resources, and other ways, to promote the Company’s steady development and strengthen its core competitiveness. Finally, the Group will strive to become a high-quality listed company with sustainable development capabilities through continuous improvement of overall performance, so as to achieve a win-win situation for customers, employees, society, and shareholders.

About Datang Group Holdings Limited

Datang Group Holdings Limited is a property developer in China focused on the development of residential and commercial properties in selected economic regions. Headquartered in Shanghai, the Group has expanded its business into major regions in China, including Haixi Economic Region, Beibu Gulf Economic Zone and Yangtze River Delta Region and neighboring cities, etc. As of 30 June 2021, the Group has 142 major projects in various stages of development in major cities of The People’s Republic of China (“PRC”) and was ranked 71st among the Top 200 Real Estate Property Developers in PRC in the first half of 2021 in terms of contracted sales by CRIC, a real estate research institute in PRC. The Group’s shares were listed on the Main Board of The Stock Exchange of Hong Kong Limited on 11 December 2020 and were included in the MSCI China Small Cap Index on 27 May 2021.

#Datang

Thai Police Fear Killer Cop Has Fled to Laos

Thai police chief Jo Ferrari may have fled to Laos
Thai police chief "Jo Ferrari" may have fled to Laos.

Thailand has requested assistance from Laos after issuing an arrest warrant for a rogue police chief believed to have tortured and killed a drug suspect.

NCS launches NEXT Cloud Centre of Excellence in Australia as part of APAC expansion

  • Expands on NCS’ presence in Australia and aims to encourage innovation collaboration between Australia and Singapore
  • Helps governments and enterprise leverage digital technologies to transform the way they operate and thrive in the digital economy
  • Aims to grow local team to 1,500 and create 500 new digital jobs

SINGAPORE – Media OutReach – 26 August 2021 – NCS today announced the launch of NCS NEXT Cloud Centre of Excellence (CoE) in Melbourne. The CoE will offer governments and enterprises greater support on accelerating their cloud initiatives. This is part of NCS’s regional expansion strategy into Australia, following the partnership with Optus Enterprise in December 2020 to bring integrated ICT and digital services to Australian clients across a wide range of industries and government sectors. The CoE will also facilitate expertise exchange and deepen collaboration between Singapore and Australia, helping both cities build up cloud expertise in a competitive talent market.

The setup of the CoE follows an earlier announcement made this year on the formation of NCS NEXT to help organisations leverage digital technologies to transform the way they operate. This would involve innovating and co-creating new applications, processes, and services with organisations to better service their end customers or stakeholders. The NCS NEXT Cloud CoE in Melbourne is part of the company’s NEXT Innovation Triangle which also includes nodes in Singapore and Shenzhen and draws on the unique strengths each city brings in terms of talent, clients, and innovation.

Andre Conti, Head of NEXT Solutions, Australia, said, “We have witnessed the increasing pace at which both public and commercial sectors in Australia are adopting a digital-first approach to transforming the way in which we live and work. Through the NCS NEXT Cloud CoE launch in Australia, Optus Enterprise and NCS can help Australian enterprises and government agencies leverage cloud-based innovations to unlock competitive advantages and enhance customer or citizen experiences. By tapping into NCS’ 40 years of experience in supporting the public sector in APAC and our strong partner ecosystem, NCS Australia will play an active role in nurturing and pushing the local ICT space forwards”.

Partnering Victoria to grow a tech ecosystem and develop talents

A Memorandum of Understanding (MOU) was also signed today at the Cloud CoE launch, with The State Government of Victoria represented by Invest Victoria as well as the Department of Treasury and Finance. This partnership leverages the CoE to promote innovation in cloud, reach new customers, drive talent development, and advance Victoria’s competitiveness in the technology sector.

With 80 per cent of Australian enterprises expected to shift to cloud-centric infrastructures and applications by the end of 2021, the launch of NCS NEXT Cloud CoE comes at an opportune time to help Australian organisations navigate the complex tech ecosystem and accelerate their cloud deployment.

Tim Pallas, Victorian Treasurer said, “Victoria is the tech capital of Australia and we’re so proud to welcome NCS to Melbourne, creating jobs and continuing our thriving reputation of innovation and excellence.”

To support the growth of the Cloud business in Australia, NCS is also committed to building the digital talent pool in Victoria, focusing on capabilities in innovation, artificial intelligence, 5G-enabled internet of things (IoT) applications, advanced analytics, and cloud. NCS aims to grow the local team to 1,500 and create 500 new digital skilled jobs over the next few years to support the needs and aspirations of the Victorian and national ICT communities.

About NCS

NCS is a leading technology services firm with presence in Asia Pacific and partners with governments and enterprises to advance communities through technology. Combining the experience and expertise of its 10,000-strong team across 49 specialisations, NCS provides differentiated and end-to-end technology services to clients with its NEXT capabilities in digital, cloud and platforms, as well as core offerings in application, infrastructure, engineering and cybersecurity. NCS also believes in building a strong partner ecosystem with leading technology players, research institutions and start-ups to support open innovation and co-creation. For more information, visit ncs.co.

#NCS

YouTrip Perks offers greater savings of up to 15% when spending with Taobao, Amazon, iHerb, Lazada and many more

  • Singaporeans can save with super deals from 30 popular local and international merchants including Taobao, Amazon SG, iHerb, Lazada, Nike and Klook
  • Users can now stack even more savings on overseas purchases, in addition to enjoying the best exchange rates offered by the debit card

SINGAPORE – Media OutReach – 26 August 2021 – YouTrip, Singapore’s leading multi-currency wallet, is giving Singaporeans more value when they spend by introducing YouTrip Perks, a one-stop platform to discover the best deals and promos from their favourite local and international brands.

In this rollout, the company has partnered 30 merchants spanning e-commerce marketplaces, beauty, fashion, travel, streaming services, food and beverage as well as health and wellness to offer exclusive discounts and cashbacks to users when shopping with them online and in-store.

“At YouTrip, we’re always looking for ways to give our users the most cost-effective way to pay – from promising the best exchange rates when transacting in multi-currency, and now sealing the best deals for them on YouTrip Perks,” said Jeremy Lim, Country Manager, YouTrip Singapore.

He added, “this is also timely as Singaporeans prepare their shopping carts for the year-end shopping season, and the in-store discounts relevant for those heading out during the easing of measures. This is only the start, and Singaporeans can look forward to more deals from online shopping options and local retail brands in the months to come.”

Slash your spendings with YouTrip Perks

The merchants featured in YouTrip Perks are also a reflection of Singaporeans’ current lifestyles and their well-loved merchants at home and abroad.

  • Stack rebates when shopping internationally. Singaporeans love their foreign brands, and the numbers show it, with YouTrip registering a close to double growth in online overseas purchases among Singaporeans in the past 12 months[1].

    To give users more of what they love, YouTrip Perks has brought on board top international shopping sites[2] iHerb to offer 15% off health products beginning today, as well as discounts on Taobao purchases this September. Those stocking up on global beauty items and apparel can also start saving up to 25% when shopping from online skincare retailers Look Fantastic, Mankind as well as global streetwear label, HBX.

    More importantly, these rebates come on top of existing savings from the best exchange rates and no markups in over 150 currencies when checking out with the YouTrip card.

  • Local discounts for every lifestyle. YouTrip Perks also offers a diversity of local deals to suit any shopper. In time for the upcoming mega sale days, bargain hunters can already earn 2% in cashback on Lazada, and another 6% on Amazon SG next month. Likewise, fashion gurus get up to 30% off the latest pieces at Zalora; whereas locals embarking on a ‘Singapoliday’ will enjoy 10% off staycations with Booking.com, Agoda and Klook.

    Lastly, for those looking to further their fitness journey, stock up on health supplements from MyProtein at a discounted rate of 55%, and receive cashbacks when refreshing that activewear wardrobe at Nike and Adidas.

  • Ready to head out and about. As Singaporeans gradually return to the office, YouTrip Perks is shaving a few bucks off that much-needed cuppa at homegrown cafes The Lokal and Huggs Coffee, and giving diners a sweet end to their meal with discounted sweets at Ice Bar or drinks at craft beer bar Almost Famous.

“At YouTrip, we look at data to inform every step of our product development. By understanding our users’ purchase behaviour, we were able to select a list of merchants that they care about, and help them develop meaningful savings in their shopping journey,” said Jeremy.

The full list of merchants can be found on YouTrip Perks.

Make the best out of YouTrip Perks today

  1. Visit YouTrip Perks, and enter the unique Y-number located on your YouTrip card to start accessing the list of deals.
  2. Click on the deals you’d like to redeem from that particular merchant and start shopping.
  3. When you’re ready, pay with your YouTrip card either in-store or on the merchant’s respective website.
  4. Discounts are either applied immediately upon payment in-store or online, applied after the promo-code is inserted, or in the form of cashback to your YouTrip wallet[3].

The YouTrip app can be downloaded on the Google Play Store (Android) or the App Store (iOS).



[1] YouTrip Cross-border e-commerce study 2021: Singaporeans an 84% year-on year increase in online overseas purchases by Singaporean users from July 2020 to June 2021

[2] YouTrip Cross-border e-commerce study 2021: Taobao and iHerb were among the top 10 international shopping sites that Singaporeans frequented in the past year

[3] List of terms & conditions for each redemption on YouTrip Perks

About YouTrip

YouTrip is a regional financial technology startup, dedicated to creating the best mobile financial services for travellers across Southeast Asia by simplifying overseas spending and creating a fuss-free travel experience. YouTrip first launched in Singapore in 2018 and subsequently in Thailand in 2019.

For more information, please visit www.you.co

#YouTrip

Amazon Launches IP Accelerator in Singapore to Help Small Businesses Secure Trademarks and Protect Their Brands

  • IP Accelerator connects small and medium-sized businesses with a network of trusted Singapore Intellectual Property (IP) law firms that will charge competitive fees on key services
  • Participating businesses can access Amazon’s brand protection tools months before their trademark registration is issued

SINGAPORE – Media OutReach – 26 August 2021 – Today, Amazon (NASDAQ: AMZN) launched the Intellectual Property Accelerator (IP Accelerator) in Singapore, making it easier and more cost effective for small and medium-sized businesses (SMBs) to obtain trademarks, protect their brands and tackle infringing goods both in Amazon’s stores and the broader marketplace.

Available to any brand selling in Amazon’s stores, IP Accelerator directly connects Singapore SMB owners with a curated network of local law firms charging competitive, pre-negotiated rates on key services, giving SMBs easy access to expert legal and general IP advice that may otherwise be a cost-prohibitive or complex process. To date, the list of participating firms in Singapore includes Ella Cheong LLC, Viering, Jentschura & Partner, Francine Tan Law Corporate, and Tan Peng Chin LLC.

“Securing IP rights is essential for every business owner, especially those interested to go global. Many SMBs in Singapore have grown their businesses with Amazon, reaching millions of customers on Amazon.sg and Amazon’s stores around the world. We are pleased to introduce the IP Accelerator program, which will build on that success by protecting their intellectual property and set them up for long term growth,” said Bernard Tay, Head of Global Selling for Southeast Asia at Amazon.

IP rights are vital for businesses to stop bad actors from copying and infringing on their ideas. However, filing for IP protection can be daunting and time-consuming for SMBs. IP Accelerator will facilitate the process by connecting SMBs with lawyers who are skilled in drafting trademark applications and can help remove common obstacles that could otherwise further delay the issuance of a registration.

IP Accelerator provides SMBs with early access to Amazon’s brand protection tools that help them protect their brand and IP even before their trademark is officially registered. Amazon’s Brand Registry is a free service that provides SMBs with powerful tools that help them manage and protect their brand and IP rights in Amazon stores, with more than 500,000 brands enrolled to date. Participants benefit from Amazon’s automated, data-driven protections that proactively remove suspected infringing or inaccurate content as well as tools that enable brands to report suspected infringement. Enrollment in Brand Registry also provides brands with greater influence over product information displayed on Amazon’s product detail pages to help customers make confident, informed purchasing decisions.

IP Accelerator was launched in the United States in 2019, and has since expanded to Europe, Japan, Canada, Mexico, India, and now Singapore. Since the launch, more than 7,000 trademark applications from participating brands have been submitted to trademark offices including the U.S. Patent and Trademark Office, the European Union Intellectual Property Office, the UK Intellectual Property Office, the Japan Patent Office, the Canadian Intellectual Property Office, the Instituto Mexicaon de la Propiedad Industial, and the India Trade Marks Registry.

Amazon does not charge selling partners to use IP Accelerator – SMBs pay their law firm directly for the work performed at reduced, pre-negotiated rates. Businesses interested in IP Accelerator can visit http://brandservices.amazon.sg/ipaccelerator. Law firms that are interested in participating in the program should contact IPAcceleratorWaitList@amazon.com.

Quotes from the law firms:

Francine Tan, Founding Partner of Francine Tan Law Corporate, said: “The team at Francine Tan Law Corporation is excited to be a trusted Singapore partner in the IP Accelerator program to assist start-ups and small businesses in gaining quicker access to the Amazon Brand Registry. Brands are an intangible valuable asset which connects businesses with consumers and fosters loyalty and trust. Trademark registrations serve to protect this asset and are extremely vital for one to deal with the hijacking of brands and online counterfeits.”

Angela Leong, VJP, said: “Hi Amazon Selling Partners! VJP LLP an IP firm located in Singapore offering trademark protection services. We go by our motto “Value Justifies Protection” and are in the business of protecting and defending your trademark. We’re excited to be a part of Amazon’s IP Accelerator Firm Referral Program and look forward to playing our part in the Amazon ecosystem where connections are made.”

Wong Liang Kok, Tan Peng Chin LLC, said: “Tan Peng Chin LLC is a boutique Singapore law firm, with a dedicated and experienced IP practice group. We are honoured to be a part of Amazon’s IP Accelerator Program so as to serve international companies requiring trademark, brand and other intellectual property protection and other legal services in Singapore.”

Kar Liang SOH, Ella Chong LLC, said: “Amazon is finally bringing its ground-breaking IP Accelerator programme to its fast-expanding Singapore marketplace. We are proud to pioneer this amazing initiative with Amazon and are extremely excited to play a vital role in supporting the IP and legal needs of growing network of partners and sellers in the Amazon Singapore marketplace and beyond!”


About Amazon

Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit Amazon.sg.

#AmazonSingapore

Kenanga Investment Bank’s 1H21 net profit increases 4-fold to RM64.7 million

KUALA LUMPUR, MALAYSIA – Media OutReach – 26 August 2021 – Malaysia’s leading independent investment bank, Kenanga Investment Bank Berhad (“Kenanga” or the “Group”) today announced a 49.4% rise in profit after tax and non-controlling interest (“PATNCI” or “net profit”) for the second quarter ended 30 June 2021 (“2Q21”) to RM30.6 million, as compared to RM20.5 million in the same period last year (“2Q20”). For the six months period ended 30 June 2021 (“1H21”), net profit increased four-fold to RM64.7 million, from RM13.5 million in 1H20.

Datuk Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad

Consolidated revenue for 2Q21 stood at RM212.6 million, marginally higher from RM210.6 million in 2Q20. Annualised Return on Equity (ROE) is at 12.8%, compared to full year 2020 of 10.7%.

The stronger earnings were largely attributed to higher contributions from the stockbroking and investment and wealth management businesses, as well as higher share of profits from the joint venture with Rakuten Trade.

More than half of the Group’s profit before tax (“PBT”) was contributed by the stockbroking segment, which continued to remain as the Group’s major earnings contributor. PBT from this segment rose 45.3% to RM20.0 million in 2Q21, as compared to RM13.7 million in the same period last year. The improvement was mainly due to higher net interest income as well as trading and investment income.

Likewise, PBT contribution from the investment & wealth management division more than doubled to RM6.2 million due to higher management fee income generated on the back of increased asset under management and sales agency force.

Rakuten Trade, the Group’s joint venture (“JV”) and Malaysia’s first full-fledged online equity broker, continued to record solid average monthly account opening at 6,800 accounts for 2Q21. At the end of June 2021, Rakuten had a total of 217,400 accounts, 51,600 more than it had a year ago. That, coupled with the scalability of the business have also contributed to the increase in the Group’s bottom-line.

Group Managing Director of Kenanga Investment Bank Berhad, Datuk Chay Wai Leong commented, “We are pleased that the Group continued to report a set of commendable results in the second quarter. Economies of scale, particularly in our stockbroking division and Rakuten Trade, have helped improve the Group’s profitability. With the digital infrastructure well in place, the cost of acquiring and maintaining new customers has been decreasing as we grow.”

“While the average daily trading value on Bursa Malaysia has moderated in the third quarter due to lockdown concerns arising from the resurgence of Covid-19 infections in Malaysia, we remain hopeful that the economy will rebound swiftly as the roll-out of the national vaccination programme gains momentum.”

“Looking forward, we will remain focused on strengthening our business fundamentals and expanding our current offerings to ensure we remain resilient and agile in responding to the changing needs within the core businesses we operate in.”

For more information on Kenanga, please visit www.kenanga.com.my

About Kenanga Investment Bank Berhad 197301002193 (15678-H)

Established for more than 45 years, Kenanga Investment Bank Berhad (“the Group”) is a financial group in Malaysia with extensive experience in equity broking, investment banking, treasury, Islamic banking, listed derivatives, investment management, wealth management, structured lending and trade financing.

The Group has garnered a host of awards and accolades reflecting its strong market position. It was awarded under the categories of Best Overall Equities Participating Organisation by Bursa Malaysia, Best Overall Derivatives Trading Participant, Best Structured Warrant Issuer, Best Retail Equities Participating Organisation, Best Institutional Equities Participating Organisation Investment Bank; along with Best Trading Participant and Best Institutional Equities Participating Organisation and for Equity and Financial Derivatives for 18 consecutive years. The Group was also accorded the title of Best Institutional Derivatives Trading category by Bursa Malaysia.

The Group continues to be a regular and repeat recipient of distinguished industry accolades, such as the Lipper, Fundsupermart and Morningstar awards. For its continued efforts towards community outreach and employee volunteerism, the Group was awarded the coveted company of the year award for environmental awareness and sustainability at Sustainability & CSR Malaysia Awards 2020.

Today, Kenanga Investment Bank Berhad is an award-winning leading independent investment bank in the country with a continuous commitment towards driving collaboration, innovation, and digitalization in the marketplace.

#Kenanga

CIFI Group Announces 2021 Interim Results

Revenue grew by 58.0% year on year to RMB36.4 billion and

Interim dividend amounted to HK12 cents per share

Rental income grew significantly by 79% year on year to RMB391 million

Contracted sales increased by 53% year on year to RMB157.03 billion for the first seven months, representing 59% of full year target

Net debt-to-equity ratio and weighted average cost of indebtedness improved to 60.4% and 5.1% respectively


Results Highlights:

Revenue and net profit increased continuously and declared dividend for seven consecutive years since IPO

  • Recognised revenue increased by 58.0% year on year to RMB36.4 billion. Rental income grew significantly by 79.0% year on year to RMB391 million.
  • Core net profit to equity owners of the Company increased by 4.8% year on year to RMB3.35 billion.
  • Gross profit margin and core net profit margin stood at 20.7% and 9.2% respectively.
  • Core return on average equity was 22.3%, maintaining the industry’s leading level.
  • Proposed interim dividend of RMB10.0 cents or equivalent to HK12 cents per share (2020 Interim results: RMB9.8 cents or equivalent to HK11 cents per share). Achieved sustainable earnings growth since IPO, with accumulated dividends of HK$1.96 per share.

Ensuring the achievement of annual sales targets with abundant quality land bank

  • Proactive implementation and deepening of diversified channels to acquire lands, deep cultivation in advantageous regions and expansion in potential cities.
  • For the first seven months of 2021, the Group achieved contracted sales of RMB157.03 billion, increased by 53% year on year, representing 59% of its 2021 full year contracted sales target of RMB265 billion. The contracted average selling price was approximately RMB17,800 per sq.m. (excluding car parks and storage spaces).
  • Achieved a cash collection ratio of over 90% from contracted sales, maintaining the industry’s leading level.
  • Since the beginning of 2021, the Group has strategically entered 8 new cities, including Yancheng, Luan, Xuancheng, Liaocheng, Dezhou, Rizhao, Putian and Zhuzhou.
  • Its high-quality land bank has covered 85 cities in different geographical regions, over 90% of which was located at first-, second- and prosperous third-tier cities with sustained economic recovery. The Group expects the saleable resources in the second half of the year to be approximately RMB260 billion. Management is confident of completing its 2021 contracted sales target.

Continued to optimize a healthy debt structure and debt maturity

  • Carried out the major financing transactions, optimized the debt maturity structure and reduced financing costs through increasing the issuance of green US Dollar Bonds, which was expected to be sufficient to meet our needs of refinancing.
  • Abundant cash on hand, reaching RMB52.41 billion.
  • Net debt-to-equity ratio and weighted average cost of indebtedness improved to 60.4% and 5.1% respectively, comparing with those as at the end of 2020.

Diversified real estate plus business layout with continuous implementation to drive growth

  • By the end of July, CIFI Commercial has entered 16 cities, and opened 9 shopping malls, with a total GFA of 630,000 sq.m., and over 30 commercial complexes reserved in total laid a solid foundation for achieving rapid rental income growth in the next three years.
  • As of August, LingYu International, a long-term leasing apartment business company, has entered more than 10 cities, focusing on 6 core cities, with nearly 80,000 rooms. It was ranked TOP3 in the development category of long-term leasing brands.
  • Recently, CIFI has signed benchmarking projects under entrusted development, including the headquarters of the world’s top 500 companies and commercial complexes, as well as residential projects.
  • Successfully obtained the Wuzhou Hospital project in Chaoyang District, Beijing, which will converge Beijing’s outstanding medical rehabilitation resources to create the features of intensive rehabilitation. Accordingly, a duel project layout of “medical care + elderly care” has been completed in Beijing.

Recognized by international and onshore credit rating agencies

  • Standard & Poor, Fitch and Moody’s maintained the Company’s credit ratings at “BB” (with “Stable” outlook), “BB” (with “Stable” outlook) and “Ba2” (with “Stable” outlook) respectively. Lianhe Global maintained the Company’s credit rating at “BBB-” (with “Stable” outlook).
  • China Chengxin Credit Rating, United Ratings and China Lianhe Credit Rating, each assigned “AAA” onshore credit ratings to the Company and CIFI PRC.

Fulfilled high standards of ESG management and become a model of ESG enterprise

  • CIFI issued the first green finance report, proactively disclosing the use and allocation of proceeds from the green bonds and the environmental benefits generated, and obtaining independent third-party’s assurance, which set another benchmark among industrial peers.
  • In August, Hang Seng Indexes announced that CIFI would be included to Hang Seng ESG 50 Index for the first time.
  • Issued its first syndicated green loan of nearly HK$2.8 billion.
  • In May 2021, the Company issued two batches of green US dollar senior notes with an aggregate amount of US$500 million. The 5.25-year maturity green senior notes bore an interest rate of 4.45% per annum with an amount of US$350 million; while the 7-year maturity green senior notes bore an interest rate of 4.8% per annum with an amount of US$150 million, representing the longest maturity among offshore bonds issued by CIFI.
  • Donated RMB100 million to Xiamen University to establish the “CIFI Education Development Fund” to support university education.
  • After a devastating rainstorm disaster hit in Zhengzhou City, Henan Province, CIFI Charity Foundation announced a donation of RMB10 million to urgently assist the local flood prevention and disaster relief work and actively participate in post-disaster reconstruction.

Received various domestic and international awards and recognitions; CIFI’s market position in the industry has been further enhanced

  • CIFI was ranked at 766th in the “Forbes Global 2000 List”, 142 places higher than last year. In the list, a total of 395 companies come from Mainland China, Hong Kong, Macao and Taiwan.
  • CIFI was listed in the top 13 of “Comprehensive Competitiveness List of 2021 Listed Real Estate Enterprises in China”, 2 places higher than last year.
  • CIFI was ranked 38th in the “2021 Forbes China Philanthropy List”, and the rankings had improved for three consecutive years.
  • CIFI has won multiple awards in the “2021 All-Asia Executive Team” of real estate industry comprehensive ranking held by the international financial magazine Institutional Investor for the fifth consecutive year, and also won the third position of “Honored Companies in Asia”.

Financial Summary:

For the six months ended 30 June

2021

2020

YoY Growth

Contracted sales

Contracted sales (RMB’ million)

136,150

80,730

+68.6%

Contracted GFA (sq.m.)

7,973,300

4,895,900

+62.9%

Contracted ASP (RMB/sq.m.)

17,100

16,500

+3.6%

Key financial performance (RMB’ million)

Recognized revenue

36,373

23,022

+58.0%

Gross profit

7,525

5,901

+27.5%

Profit for the period attributable to equity owners

3,603

3,369

+6.9%

Core net profit attributable to equity owners

3,346

3,194

+4.8%

Core basic earnings per share, RMB cents

41

41

As at

30 June 2021

As at

31 Dec 2020

Key balance sheet data (RMB’ million)

Total assets

439,991

379,299

+16.0%

Bank balances and cash

52,406

51,155

+2.4%

Total indebtedness

110,747

104,715

+5.8%

Total equity

96,528

83,642

+15.4%

Equity attributable to equity owners

37,369

36,052

+3.7%

Net debt-to-equity ratio

60.4%

64.0%

-3.6 p.p.

Weighted average cost of indebtedness

5.1%

5.4%

-0.3 p.p.

Land bank (GFA, million sq.m.)

– Total

58.4

56.5

+3.4%

– Attributable

32.3

30.8

+4.9%


HONG KONG SAR – Media OutReach – 26 August 2021 – CIFI Holdings (Group) Co. Ltd (“CIFI” or the “Group”, HKEX stock code: 884), a leading real estate developer engaged in property development and investment business mainly in the first-, second- and quality-third-tier cities in China, is pleased to announce its interim results for the six months ended 30 June 2021.

Looking forward to the second half of 2021, with the solid progress in the national systematic pandemic prevention and control and the development of economy and society, the resilience of economic development will continuously be shown. However, the global pandemic deteriorated due to new varieties of COVID-19, and the overall environment at home and abroad is still complex and severe. It is expected that the central government will adhere to prudent real estate financial management policies in order to prevent financial risks. Furthermore, regulatory measures system at the supply end will be continuously improved and deepened, and irregular flow of funds into the real estate market will be strictly monitored to ensure the realization of the goal of stabilizing land prices, housing prices and the expectations.

For the seven months ended 31 July 2021, the Group already achieved contracted sales of RMB157.03 billion, representing 59% of its 2021 full year contracted sales target. Thanks to the Group’s proactive implementation and deepening of diversified channels to acquire lands, deep cultivation in advantageous regions and expansion in potential cities, its high-quality land bank has covered 85 cities in different geographical regions, over 90% of which was located at first-, second- and prosperous third-tier cities with sustained economic recovery. The Group expects the saleable resources in the second half of the year to be approximately RMB260 billion, and its management is confident of completing its 2021 contracted sales target.

Mr. Lin Zhong, Chairman and Executive Director of the Group said, “2021 is the closing year of the Group’s “Second Five-Year Plan”. Through the unremitting efforts of all employees, the Group continued to pursue steady and high-quality development, and achieved balance among scale expansion, profitability, and financial safety, and consolidated CIFI’s leading position as a top developer in China’s real estate industry. Looking forward, CIFI is still firmly optimistic about its principal business of property development, and is committed to incubating property related businesses to help development and to complement each other. Meanwhile, the management is also optimistic about the development of self-owned rental generating properties. The management will continue to explore the transformation from solely residential development to development + investment properties, and adheres to the commercial development route of “pursuing high quality in first- and second-tier cities and pursuing scale in third-tier cities”. The Group also puts great significance on promoting its management standard on environmental protection, social responsibility, and corporate governance. From the level of the Group’s strategic planning, we pledge full commitment to forge CIFI as one of the Fortune Global 500 enterprises with outstanding results, persistent performance of social responsibility and excellent corporate governance.”

About CIFI (Group)

Headquartered in Shanghai, CIFI is one of China’s top real estate developers. CIFI principally focuses on developing high-quality properties in first-, second-, and quality-third-tier cities in China. CIFI develops various types of properties, including residential, office and commercial complexes.

To learn more about the Company, please visit CIFI’s website at: http://www.cifi.com.cn

#CIFI

HOPE Telecare seeks volunteer doctors to join telemedicine task force, Offering free virtual medical consultation for the public

YANGON, MYANMAR – Media OutReach – 26 August 2021 – In conjunction with its launch, HOPE Telecare, Myanmar’s latest all-in-one digital healthcare platform, is calling doctors available to join the HOPE Task Force, a voluntary telemedicine service to provide free virtual medical consultation amidst the Ministry of Health’s stay-at-home order across the country and to reduce patient-medical healthcare specialist contact in view of the soaring COVID-19 cases.

The service allows the general public to obtain virtual medical consultation for free.

Dr Saw Mra Aung, co-founder of HOPE Telecare said, “With the recent daily new COVID-19 cases reaching all time high, we understand that more state resources need to be channeled to combat the infection spread. Therefore, we call for volunteer doctors to join our virtual health advisory task force to reduce the burden on the public healthcare system. This is an opportunity for doctors to volunteer their time and expertise without putting themselves at risk. We believe that the efforts of our volunteers from the task force will help contribute positively in the midst of this public health crisis”

“In times like this, the public would try to avoid visiting high risk places like clinics and hospitals. HOPE Telecare would like to help ease public concern and offer easy access, via no fuss messaging platforms such as Facebook Messenger and via our own HOPE app for mobile phones, to information from verified experts at the safety of their own home,” Dr Saw added.

HOPE Telecare is a joint-venture by Myanmar’s Blue Ocean Investment Limited, Dr Saw Mra Aung, and Malaysia’s “First Digital Signature Electronic Prescription System” DOC2US owned by Heydoc International Sdn Bhd as their technical partner.

Htun Htun Naing, Chairman of HOPE Telecare explained, “HOPE is the acronym of “Helping Our People Everyday” which stems from our mission to help the people of Myanmar to get accessible, affordable, and equitable healthcare services anytime, anywhere,”

“About 70% of our population living in the rural area where doctors are not easily found, while our internet penetration rate is growing at more than 10% year-on-year from the current 43%, we believe telemedicine is the way forward to improve the quality of care in the country. It would complement the physical healthcare ecosystem by freeing up physical medical resources to those who need it.” said Htun.

#HOPETelecare