PowerPoint 簡報webcast.live.wisdomir.com/yuzhou_18ar/ppt.pdfFounder 4 Deputy to the National...

1

March 2019

大禹治水，荒漠成洲

THE GROUP'S NAME

ORIGINATES FROM A

RULER

IN ANCIENT CHINA

CALLED YU THE GREAT.

禹，源自「大禹治水」

大禹治水，千古名垂。這是自強不息、堅韌不拔的奮鬥精神，是革故鼎新、勇於挑戰的創

新精神，是「三過家門而不入」的奉獻精神，是熟知人性、順勢而為的人文精神，融入炎黃子

孫的血脈，成為中華民族精神的源頭。

禹洲始終秉承「大禹治水，荒漠成洲」的拓荒精神，始終以開拓者和建設者的姿態站在未

來城市座標上，用誠心和誠信奉獻誠品，詮釋城市生活的理想和價值。

Speakers

3

Deputy to

the National People’s Congress

Mr. LAM Lung On, J.P.

Founder & Chairman

Mr. XU Ke Executive President

Mr. Jacky WONG CFO & Company Secretary

Mr. XIA Li Vice President

Founder

4

Deputy to the National People’s Congress

Mr. LAM Lung On, J.P.

Founder & Chairman

Vice Chairman of the All-China General

Chamber of Industry and Commerce

(Member of the All-China Federation of

Industry and Commerce)

President of the Hong Kong Chinese

Importers’ & Exporters’ Association

Visiting Professor of the University of

Science and Technology of China

Development Milestone

5

Yuzhou was

founded,

pioneering in

West Strait Zone,

built Yuzhou New

Manor

1994 1998 Locked the

eastern

development

zone of Xiamen

10 years ahead,

Yuzhou Garden

became the

benchmark for

the market

2003 Yuzhou

Overseas City

led the high-

end residential

market in

Xiamen

2006 Fully launched the

national expansion

strategy, successfully

enter Hefei market,

and strengthened the

regional layout of the

Yangtze River Delta

Based in West

Strait Zone,

expanding nationwide

2008 Broke through

the impact of

the financial

crisis, sales

rose sharply,

strengthened

the leading

position in West

Strait Zone

2011 Ranked among

the Top 50 of

Chinese real

estate

enterprises

2013 The national land

bank amounted to

over 9.2 million

sq.m., the first

hotel, Xiamen

Yuzhou Camelon

Hotel opened

2015 Ranked among the

Top 36 of real

estate enterprises

in China, Yuzhou

“Boutique Building

3.5” product

concept first came

out

2017 Yuzhou was introduced to

“Hang Seng SCHK High

Dividend Low Volatility Index”,

acquired high-quality land in

Huizhou, officially entered Bay

area, launched the strategy of

“Cultivating in Regions Leading

the Market”, targeting to 100 bn

contracted sales in 3 years

Yuzhou Property

Services Co.,

Ltd. was founded

1997

2002 The first urban

complex,

Yuzhou World

Trade Center

opened

2004 Developed

Yuzhou

Harbour City,

built Xiamen's

first large-scale

garden health

community,

successfully

entered in

Fuzhou and

Shanghai

2007 Yuzhou Commercial

was founded

2009 Successfully

listed on the

Hong Kong Stock

Exchange (stock

code: 01628.HK)

2012 Awarded the “2012

China Mainland

Listed Real Estate

Company

Investment Value

TOP10”

2014 Awarded the first-

class qualification

of the National real

estate

development

enterprise and the

first-class

qualification of the

National property

service enterprise,

and was elected

as the vice

president unit of

the National Real

Estate Association

2016 Ranked among the

Top 500 Chinese

companies and was

incorporated into

“Shenzhen-Hong

Kong Stock

Connect”. Relocated

its headquarters

from Xiamen to

Shanghai. Adhering

to overall strategy of

“Based in Yangtze

River Region, Lead

West Strait and

Expand Nationwide

Coverage”

2018 Yuzhou was

incorporated into the

constituent stocks of

the “Hang Seng

Composite LargeCap

and MidCap Index”,

“Shanghai-Hong

Kong Stock Connect”

and “MSCI China

Index”；introduced

OCT Asia as the

second largest

shareholder. Ranked

37th among the Top

50 real estate

development

companies in China in

2018

2019 First entered into Kaifeng,

Foshan and Beijing; our

highest grade hotel, Xiamen

Wyndham Grand Plaza

Royale Hotel opened

Based in Yangtze River Region,

Lead West Strait

Expand Nationwide Coverage

Layout Expansion,

Newly entered in

Nine Cities

Cultivating Xiamen,

famous in West

Strait Zone

Cultivating in Regions

Leading the Market

Nationwide Layout

6

Yangtze River Delta Region：Shanghai, Hefei, Hangzhou, Nanjing, Suzhou, Bengbu, Yangzhou, Zhoushan, Bozhou, Xuzhou, Jinhua Bohai Rim Region：Beijing, Tianjin, Shenyang, Qingdao, Tangshan West Strait Economic Zone：Xiamen, Fuzhou, Quanzhou, Zhangzhou, Longyan The Bay Area：Hong Kong, Huizhou, Foshan, Zhongshan Central China Region：Wuhan, Xinxiang Southwest Region：Chongqing

As of December 31, 2018

6

10 years

25 years 28

36%+

80%+

120+

100 bn+

300 bn+

Metropolitan Areas

of Listing

Since Founded

Cities

Dividend Payout Ratio

In 1st and 2nd tier cities

Projects

Total Assets

Saleable Resources

7 Wuhan · Langham City Land

Business Overview

A journey of RMB100bn in contracted sales begins

Contracted sales

12,872

21,487 21,494

10,334

18,819

34,509

0

10,000

20,000

30,000

40,000

50,000

60,000

FY2016 FY2017 FY2018

1H 2H

56,003

23,206

40,306

Contracted GFA

1,011 1,283

1,578

818

1,098

2,125

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

FY2016 FY2017 FY2018

1H 2H

1,829

3,703

2,381

Strong Contracted Sales Renew the Record

12,689

16,929

15,125

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

FY2016 FY2017 FY2018

Contracted ASP

8

Sales performance has been on the fast track over the past few years. Contracted sales increased to

RMB56bn in 2018, 2016-2018 CAGR is 55.4%

Accelerated sales and actively extended in the first- and second-tier cities and their satellite cities with

convenient rail transportation

In-demand quality residential products launched to cater to the rising consumption standards

RMB mn RMB/sq.m. 1,000 sq.m.

Region Project

# City

Interest

in Project

Contracted

Sales As of Total

Contracted

GFA

Contracted

ASP

（%）（RMB mn）（%）（sq.m.）（RMB / sq.m.）

Yangtze River Delta 36 10 60% 33,623 60.0% 1,895,950 17,734

West Strait 16 5 87% 10,541 18.8% 848,490 12,423

Central China 4 2 96% 4,634 8.3% 313,044 14,803

GHM Bay Area 2 2 74% 362 0.6% 35,439 10,225

Southwest Region 1 1 51% 83 0.1% 11,670 7,119

Bohai Rim 6 4 72% 6,760 12.2% 598,110 11,303

Total 65 24 70% 56,003 100% 3,702,703 15,125

2018 Contracted Sales by City

Xiamen 3.6% Fuzhou

7.6%

Quanzhou 6.0%

Longyan 1.4%

Zhangzhou 0.2%

Shanghai 11.5%

Hefei 11.8%

Nanjing 9.6%

Jinhua 0.2%

Hangzhou 10.4%

Yangzhou 0.9%

Zhoushan 1.3%

Qingdao 1.7%

Suzhou 9.6%

Bengbu 4.6%

Bozhou 0.3%

Wuhan 7.6%

Xinxiang 0.7%

Huizhou 0.3%

Tianjin 3.8%

Tangshan 3.8%

Shenyang 2.7%

Foshan 0.3%

Chongqing 0.1%

Contracted Sales By Region

West Strait 18.8%

Yangtze River Delta 60.0%

Central China 8.3%

Bay Area 0.6%

Bohai Rim 12.2%

Southwest Region 0.1%

Number of Projects by Region

West Strait

16

Yangtze River Delta

36

Central China

4

Bay Area 2

Bohai Rim 6

Southwest Region

1

Contracted Sales in 2018

9

In 2018, Yuzhou achieved a total contracted sales of approximately RMB56,003 mn; contracted

GFA was 3,702,703 sq.m.; and the contracted ASP was RMB15,125/sq.m.

FY2018 FY2017 FY2016

# of Cities 24 12 9

Contracted ASP

(RMB / sq.m.) 15,125 16,929 12,689

2,064

2,981

5,106

3,891 3,995

3,450

2,694 2,511

2,200

3,525

4,290

3,598

2,758

3,080

4,543

4,012 4,111

3,018 3,016

2,798

6,561 6,301

10,301

5,532

13,148

14,435

16,146

17,728 18,799 20,116

16,921

17,180

16,828

20,000

17,203

15,252

13,314

11,716

13,082

14,832

13,809

15,566

12,859

18,390

19,667

19,626

14,020

15,857

0

5,000

10,000

15,000

20,000

25,000

0

2,000

4,000

6,000

8,000

10,000

1月 2月 3月 4月 5月 6月 7月 8月 9月 10月 11月 12月

Contracted Sales in 2017 Contracted Sales in 2018 ASP in 2017 ASP in 2018

Monthly Contracted Sales & ASP in FY2018

10

Monthly Contracted Sales & Contracted ASP

(Jan 2017 – Dec 2018) Contracted Sales （RMB mn）

Contracted ASP (RMB/sq.m.)

13,672

21,701 24,306

4,959 7,683 7,467

36.3% 35.4%

30.7%

0.0%

10.0%

20.0%

30.0%

40.0%

0

4,000

8,000

12,000

16,000

20,000

24,000

28,000

FY2016 FY2017 FY2018

Revenue Gross profit Gross margin

Revenue, Gross profit & Gross profit margin

1,483 1,503 1,536

9,000

14,118 15,182

0

4,000

8,000

12,000

16,000

1,200

1,600

FY2016 FY2017 FY2018

Recognized GFA ASP

Recognized GFA & ASP

EBITDA(a) Core net profit(b)

Win-Win of Scale & Profitability

11

(a) EBITDA = net income + capitalized borrowing cost under cost of sales + finance cost + income tax expense + depreciation + fair value loss on derivative financial instruments + realized loss on

derivative financial instruments – interest income – fair value gain on investment properties – unrealized fair value gain arising from remeasurement of equity interests of joint ventures

(b) Core net profit is the net profit attributable to owners of the parents adjusted for mainly the after-tax fair value gain/(loss) on investment properties and fair value gain (loss) on derivative financial

instruments, exchange differences and unrealized fair value gain arising from remeasurement of equity interests in joint ventures

RMB mn

RMB mn RMB mn

GFA ‘000 sq.m.

ASP RMB ‘000/sq,m,

5,325

7,609 7,875

0

2,000

4,000

6,000

8,000

FY2016 FY2017 FY2018

EBITDA

2,047

2,924

3,419

15.0%

13.5% 14.1%

9.5%

10.5%

11.5%

12.5%

13.5%

14.5%

15.5%

0

1,000

2,000

3,000

4,000

FY2016 FY2017 FY2018

Core net profit Core profit margin

Strategic Planning of Land Acquisition at Attractive Value

12

Region GFA

(million sq.m.)

Average

Land Cost

(RMB)

Land Bank

Proportion

(%)

West

Strait 3.75 4,856 21.6%

Region GFA

(million sq.m.)

Average

Land Cost

(RMB)

Land Bank

Proportion (%)

Bay

Area 0.74 4,368 4.2%

Beijing

Shanghai

Wuhan

Fuzhou

Xiamen

Tianjin

West Strait Economic Zone

Yangtze River Delta Region

Bohai Rim Region

Southwest Region

Nanjing

Hangzhou

Zhangzhou Huizhou

GHM Big Bay Area

Hong kong

Zhoushan Suzhou

Hefei

Bengbu

Langyan Quanzhou

Qingdao

Yangzhou

Chongqing

Central China Region Shenyang

Tangshan

Xinxiang

Bozhou

Foshan Zhongshan

Jinhua

Xuzhou

Region GFA

(million sq.m.)

Average Land Cost

(RMB)

Land Bank

Proportion (%)

Central China 1.11 4,805 6.4%

Region GFA

(million sq.m.)

Average

Land Cost

(RMB)

Land Bank

Proportion (%)

Bohai

Rim 4.15 2,195 23.9%

Regin

GFA

(million

sq.m.)

Average

Land

Cost

(RMB)

Land Bank

Proportion

(%)

Yangtze

River

Delta 6.94 6,456 39.9%

Region

GFA

(million

sq.m.)

Average

Land cost

(RMB)

Land Bank

Proportion(

%)

South-west 0.69 4,263 4.0%

As of 31 Dec 2018, cultivating 6 metropolitan areas with a footprint in 28 cities nationwide

The land bank was approximately 17.38 mn sq.m. with the average land cost of RMB4,812

By sellable resources, 1st & 2nd tier cities account for about 80%, while 3rd tier cities account for 20%*

*First & Second tier cities：Beijing, Shanghai, Hong Kong, Nanjing, Suzhou, Xiamen, Tianjin, Hangzhou, Chongqing, Qingdao, Fuzhou, Hefei, Wuhan, Shenyang, Foshan;

Third tier cities: Quanzhou, Huizhou, Zhongshan, Tangshan, Bengbu, Jinhua, Yangzhou, Zhoushan, Xuzhou, Longyan, Bozhou, Xinxiang, Jinhua

Acquistion, 58%

Bidding & Auction,

42%

2018 Land Acquisition Strategy*

West Strait, 6%

Yangtze River Delta, 27%

Central China,

6% GHM Bay Area, 5%

Bohai Rim, 45%

South-west, 11%

GFA*

New Landbank in FY2018

13

Time City Project

type Methodology %

Site area

(sq.m.)

GFA

(sq.m.)

Att.

GFA

(sq.m.)

Total land

cost

(RMB mn)

Att. land

cost

(RMB mn)

Avg. land

cost

(RMB/sq.m.)

Jan Suzhou Resi Bidding 20% 42,481 76,466 15,293 1,032 206 13,500

Jan Suzhou Resi Bidding 19% 100,887 201,774 38,337 2,754 523 13,649

Jan Bengbu Resi M&A 100% 65,400 320,381 320,381 186 186 582

Jan Nanjing Resi M&A 8% 66,267 132,534 10,603 1,490 119 11,242

Feb Chongqing Resi Bidding 100% 194,489 250,970 250,970 1,290 1,290 5,140

Mar Huizhou Resi/Com Bidding 51% 4,304 15,775 8,045 38 19 2,383

Mar Huizhou Resi/Com Bidding 51% 12,919 36,173 18,448 177 90 4,894

Mar Quanzhou Resi/Com Bidding 100% 17,473 52,419 52,419 161 161 3,071

Mar Jinhua Resi Bidding 17% 61,030 122,060 20,750 922 157 7,555

Apr Quanzhou Resi M&A 100% 56,146 140,365 140,365 225 225 1,603

Apr Nanjing Resi Bidding 30% 102,787 143,901 43,170 577 173 4,010

Apr Nanjing Resi/Com Bidding 51% 188,420 266,923 136,131 972 496 3,641

Apr Chongqing Resi M&A 51% 14,785 53,816 27,446 73 37 1,347

May Bozhou Resi Bidding 50% 63,011 113,400 56,700 284 142 2,506

May Jinhua Resi Bidding 49% 31,033 55,860 27,371 857 420 15,350

May Xinxiang Resi/Com Bidding 51% 51,674 258,370 131,769 326 166 1,262

May Chongqing Resi/Com Bidding 49% 200,568 387,677 189,962 1,590 779 4,100

Jun Fuzhou Resi Bidding 100% 26,557 58,491 58,491 559 559 9,558

Jul Fuzhou Resi Bidding 35% 30,423 106,480 37,268 810 284 7,608

Jul Xuzhou Resi Bidding 70% 127,243 203,588 142,512 191 134 937

Jul Fuzhou Resi M&A 20% 11,645 37,270 7,454 430 86 11,537

Oct Hefei Resi Bidding 33% 86,012 154,822 51,091 839 277 5,416

Nov Zhongshan Resi/Com Bidding 100% 90,501 271,502 271,502 1,523 1,523 5,610

Sub-Total 1,646,055 3,461,017 2,056,478 17,306 8,052 5,000

Coastal Greenland’s

Package Acquisition M&A 3,344,644 1,600

Total 5,401,122 3,278

(a)Acquired the package of 7 quality projects from Coastal Greenland (located in Beijing, Tianjin, Wuhan, Foshan and Shenyang) for a total consideration of

RMB 3.8bn, with the attributable GFA of 3,344,644 sq.m. at average land cost of approximately RMB1,600.

(b)The equity interest listed in the table is for reference only as a result of introduction of partners for some of these projects.

1st & 2nd tier,

77%

3rd tier, 23%

1st and 2nd tier VS 3rd tier of new land bank *

*by GFA


Central China, 26%

Bay Area, 23%

Bohai Rim, 18%

Saleable GFA*

Time City Project

type

Methodology

%

Site area

(sq.m.)

GFA (sq.m.)

Att. GFA

(sq.m.)

Total

land cost

(RMB mn)

Att. land

cost

(RMB

mn)

Avg.

land

cost

(RMB/

sq.m.)

Jan Qingdao Resi/Com Bidding 100% 97,953 156,724 156,724 731 731 4,664

Jan Kaifeng Resi/Com M&A 90% 89,138 222,844 200,560 669 602 3,002

Jan Foshan Resi/Com Bidding 100% 110,378 306,217 306,217 1,369 1369 4,470

Feb Beijing Resi/Com Bidding 100% 51,249 78,434 78,434 1,830 1,830 23,332

Feb Shanghai Resi Bidding 100% 56,048 123,306 123,306 1,850 1,850 15,003

Mar Hefei Resi Bidding 100% 117,428 224,188 224,188 2,730 2,730 12,177

Mar Zhengzhou Resi Bidding 100% 48,412 121,029 121,029 323 323 2,669

Mar Shanghai Resi Bidding 50% 50,300 80,560 40,280 1,350 675 16,758

Total 620,906 1,313,302 1,250,738 10,852 10,110 8,262

(a) The equity interest listed in the table is for reference only as a result of introduction of partners for some of these projects.

14

1st and 2nd tier VS 3rd tier of

new land bank *

83%

17%

1st & 2nd 3rd

New Landbank in FY2019

*by GFA

Establishing Three Popular Product Lines with Superior Craftsmanship

15

3 Popular Product Lines with priority on safety and quality

Elaborative management in 4 dimensions：schematic design, experience area design, construction

drawing design and special design

First-time Buyer and

Upgrader

First-time Upgrader

Upgrader

Langham Royale Honor

4

Dimensions

4

Aspects

Target Group :

Delineated the product lines from 4 dimensions based on 4 aspects and developed standardized

modules

16

Xiamen： Yuzhou World Trade Centre Haicang Yuzhou Living Plaza Yuzhou Central Coast Yuzhou Plaza

Yuzhou Central Town (Main Street) Yuzhou Sky Aqua Mall Yuzhou Galaxy Park

Quanzhou： Yuzhou City Plaza Huian Golden Street Huian Plaza

Shanghai： Yuzhou Commercial Plaza Yuzhou Plaza Research Building Yuzhou Jinqiao International Yuzhou Land Dream

Hefei： Yuzhou Central Plaza Yuzhou Central Plaza Commercial Street

Wuyuan Bay Hotel

Hangzhou： Riverside Sapphire Commercial Villa Riverside Sapphire

Suzhou： Wangting Town Project

Nanjing： Yuzhou Commercial Plaza

Wuhan： Yuzhou Commercial Plaza Lingjiao River No. One Coastal International Commercial Plaza

Shenyang： Yuzhou Plaza

Yangzhou： Yuzhou Commercial Plaza

At present, Yuzhou Commercial has 27 projects either in operations & preparation in first-and second- tier cities such as Shanghai, Xiamen, Hefei, Nanjing, Wuhan and Hangzhou

Operation Preparation

Investment Properties – Vigorous Business Expansion

Hotel Operations – Steady Development & Growth

17

Quanzhou Hui’an Hotel – In preparation

Xiamen Wyndham Grand Plaza Royale Hotel - Opened

Hefei Feidong Hotel Project – In preparation

Xiamen Yuzhou Camelon Hotel Apartment - Opened

Wuhan Taizihu Hotel Project – In preparation

Xiamen Tong’an Camelon Hotel and Spa – Grand opening in 2020

Focusing on the development of serviced apartments as well as medium-to-high-end business hotels

in order to establish premium hotel brands

Developing resort hotels while improving the existing hotel portfolio to strengthen the brand’s core

competitiveness

As at December 31, 2018

Cities Covered： 10

Managed Projects： 51

Managed Area： Approx. 13 mn sq.m.

No. of Flats： Approx.100k

FY2018 Revenue： RMB417 mn, +27.01% YoY

Property Management – Rapidly Development

18

Upholding the philosophy of “Customer First, Service Oriented”

Formulating the certification system of “Yu Housekeeper” of which the owners can have the

intimate service of the housekeeper at any time

「Yu Housekeeper」Model

Housekeeper work WeChat

Housekeeper Network-based Management

24-hours housekeepers

Introduce OCT (Asia) as Second Largest Shareholder & Launch Strategic Alliance

19

Other public shareholders

Yuzhou Properties Company

Limited

(1628.HK)

56.59%* 9.98%* 33.43%*

Mr. Lam Lung On (Chairman, CEO, Executive Director)

Ms. Kwok Ying Lan (Vice Chairman, Executive Director)

Mr. Lin Conghui (Executive Director)

OCT (Asia)

State-owned enterprise under

direct management of the

SASAC

*As of December 31, 2018

Headquarters-level Key Bank Client of CCB & ICB

Signed the Strategic Partnership Agreement with CMBC

• Headquarter-level key clients serve as the core client base of bank’s differentiated

services with priority being provided to them in terms of service efficiency, credit access,

credit approval, comprehensive pricing, project assessment, product innovation, resource

allocation and other aspects.

Multiple Index

Expanding Branding Advantages

20

2018 Best 50 China Real Estate Listed Companies with Strongest

Comprehensive Strengths (Rank 35th )

• By China Real Estate Research

Association, China Real Estate Appraisal

Center

2018 Best Chinese Real Estate Companies by Brand Value（Rank 39th）

• China Real Estate Chamber of Commerce,

China Real Estate Business, China Real

Estate Website, China Real Estate Think

Tank

• 《Times Estate》– one of the most

authoritative professional awards in real

estate, real estate design industry

The 13th Kinpan Award

• China Finance Summit

2018 Corporate Social Responsibility Exemplar Award

Building Cities with Heart Building Homes with Love

21

Practice a sustainable development business model and build cities that are human and

environmentally friendly

Create quality life, working and leisure space for people which are up to benchmark standard

My Home in Green Yuzhou

Green Product Positioning: Pay attention to the harmony between people and environment

Actively Engage in CSR Activities

Committed to education, environment, public welfare, culture and charitable

activities

Yuzhou Charity Foundation

Take a proactive role in spreading positive energy

Create a Harmonious and Livable Green City

Among the new projects in 2018, 100% are green projects

22 Chongqing · Luxury Mansion

Financial Highlights

Healthy and Stable

（RMB bn） 2018 2017 Changes

Contracted sales 56.00 40.31 +39%

Recognized revenue 24.31 21.70 +12%

Gross profit margin 30.72% 35.40% -4.68pp

Profit for the year 3.73 3.13 +19%

Core profit 3.42 2.92 +17%

（RMB bn） 2018 2017 Changes

Total Equity 21.43 17.44 +23%

Cash on hand 29.28 17.50 +67%

Net gearing ratio 66.97% 57.73% +9.24pp

Dividend

(HK

cents/share)

Final 20.50 21.50

Interim 11.00 8.50

Annual 31.50 30.00 +5%

Highlights of FY2018 Results

23

(RMB mn） 2018 2017 Changes

Sales of

properties 23,626 21,213 +11%

Rental income 245 141 +74%

Property

management

fee income

417 329 +27%

Hotel operation

income 18 18 -

Total 24,306 21,701 +12%

97.2% 97.8%

1.0% 0.6%

1.7% 1.5%

0.1% 0.1%

2018 2017

Hotel operation income

Property management fee income

Rental income

Sales of properties

Highlights of FY2018 Results（cont’d）

24

Increasingly diversified revenue streams, with rising contributions from

recurring rental income and property management fee

100% = RMB 21,701 mn

100% = RMB 24,306 mn

Recognized Property Sales* Recognized GFA & ASP

Recognized Property Sales by Region


West Strait , 16%

Bohai Rim, 7%

Bay Area, 1%

Central China, 1%


West Strait, 21%

Bohai Rim, 12%

Bay Area, 1%

Central China, 1%

Analysis of Recognized Property Sales

25

Recognized GFA by Region

RMB mn GFA

‘000 sq.m. ASP RMB ‘000 / sq.m.

4,019 7,047

8,973

9,327

14,166

14,653

-

5,000

10,000

15,000

20,000

25,000

FY2016 FY2017 FY2018

2H

1H

13,345

21,213

23,626

1,483 1,503

1,536

9,000

14,118 15,182

0

4,000

8,000

12,000

16,000

1,400

1,600

FY2016 FY2017 FY2018

Recognized GFA ASP

*After tax

Share Development Results with Shareholders & Investors

26

Yuzhou has always been committed to sharing the results brought by good performance

with shareholders and investors. Our dividend payout ratio, net profit margin and core

profit margin have always been at the leading level in the industry

Dividend Payout Ratio Net Profit Margin Core Profit Margin

35.0%

36.0%

37.0%

2017 2018

36.45%

36.29%

13.0%

14.0%

15.0%

16.0%

2017 2018

15.3%

14.4%

12.5%

13.5%

14.5%

2017 2018

13.5%

14.1%

4,808

16,704 16,430

-

10,000

20,000

30,000

40,000

50,000

FY2016 FY2017 FY2018

Short-term debt Long-term debt

10,863

27,202

43,632

27,567

Cash Position Total Debt

Total Assets Total Equity

Strong Balance Sheet

27

RMB mn

RMB mn RMB mn

RMB mn

17,418 17,498

29,279

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

FY2016 FY2017 FY2018

68,861 79,905

115,063

-

20,000

40,000

60,000

80,000

100,000

120,000

140,000

FY2016 FY2017 FY2018

11,673

17,443

21,430

-

4,000

8,000

12,000

16,000

20,000

24,000

FY2016 FY2017 FY2018

25,787

20,979

Strong Balance Sheet (cont’d)

28

(a) Net debt = Total debt–Total cash

X

X

Net Debt(a) / EBITDA

1.6

1.3

1.8

-

0.5

1.0

1.5

2.0

2.5

FY2016 FY2017 FY2018

Net Debt(a) / Total Equity

72%

58%

67%

0%

20%

40%

60%

80%

100%

FY2016 FY2017 FY2018

%

Senior notes Due in 2019: 550mn Due in 2021: 6,847mn Due in 2022: 2,385mn Due in 2023: 1,702mn

21,148

11,484

11,000

RMB, 62%

HK$, 2%

US$, 36%

Proportion of Foreign Currency Debt

Weighted Average Financing Cost

Stable Financial Position & Diversified Financing Channels

29

8.49%

7.00%

6.08% 6.02%

7.23%

4.00%

5.00%

6.00%

7.00%

8.00%

9.00%

2014 2015 2016 2017 2018

Sustained a manageable net gearing ratio, with successful financing measures that effectively control

the average funding cost

Lianhe Global assigned our ratings at BB, Moody’s, S&P and Fitch retained Ba3, BB- and BB-

respectively, outlook Stable Golden Credit Rating International, China Chengxin Securities Rating and China Lianhe Credit Rating

issued AA+ rating respectively

Optimized Financing Structure (RMB mn)

Bank and other Loans Due within 1 year : 8,680mn In the second year : 5,477mn In the third to fifth years : 6,122mn Beyond 5 years : 869mn

Corporate bonds Due in 2019: 5,000mn Due in 2020: 3,000mn Due in 2021: 3,000mn

FY2018 FY2017

Onshore 7.42% 6.41%

Offshore 6.99% 5.57%

Weighted

Average

7.23% 6.02%

FY2018 FY2019E

Cash inflow

Cash proceeds from contracted sales and other income +35.3 +46.8

Cash outflow

Land premium paid -15.4 -22.8

Construction cost capex -12.1 -13.7

Other expenses – Interest, tax, dividends and others -8.8 -10.3

FY2018 Cash Position

30

（RMB bn）

Investor Relations

31 Xuzhou · Lakeside Langham

32

Covered by 22 brokers Always on the Way

IR Content Number Performance

Annual/Interim

Results 4

More than 800

investor & analysts

Reverse roadshow 4 days

More than 50

investors, analysts

& journalists

Meetings, Non-Deal

roadshows and

Conference calls

73 More than 6,300

Outlook Stable

We are committed to building an efficient communication bridge with the capital market. We

listen attentively to various suggestions of the capital market in an active, sincere and modest

manner, and strive to maintain high transparency and excellent corporate governance.

(names not listed in order)

In 2018, we were covered by 22 brokers. Among them, JP Morgan, DBS, Deutsche Bank, Haitong, Soochow, and Essence International published initiation reports.

Investor Relations Always on the Way

33

Future Outlook

Follow the Trend and Dream to A New Stage

Fuzhou · Royale Riverside Mansion

As de-inventory dividend fade away and the less

monetary housing compensation of will affect sales

negatively.

The mortgage interest rate is expected to fall steadily,

and the dividends of faster urbanization and housing

consumption upgrades will be a boom for sales

From “Restriction” to “Stable”; adopt

different policies in different cities as

appropriate to their local conditions to

optimize short-term regulation and

improve long-term mechanism. Fine-

tuning policy will promote the

possibilities of valuation repair.

Liquidity would be better; regulatory

policies related to land acquisition,

rental and social welfare will be further

improved

The regional differentiation is intensified, the

nationwide type housing enterprises with wide

distribution have stronger anti-risk ability, and

the accelerated land concentration will drive

the future sales concentration

Quality real estate enterprises’ advantages in

brand, capital and product leads to significant

strong finance, sales and land acquisition, etc.

The growth of the urban permanent

residents, the increase in housing

area per capita and the steady

release of demand for urban

renewal and reconstruction support

the real estate market

Market Outlook

34

Vast Promising Market Keynote Remains Stable

Industry Dividend Showing

Divergent Trends of Growth

More Concentrated

Industry

3 3

3

01

02

03

04

Improve Operation Management with Overall Reform

Build a performance-oriented, high effective incentive system to boost morale of employees; build

a clear management mechanism to replace the rule of people; improve the cooperation among

different departments by establishing a institutionalized management

Scientific Land Acquisition, Sales and Marketing with Flexible Strategy

Speed up the foundation of the overall operation system; analyze the market data to make a

reasonable target and quantitatively measure the execution plan; adopt a flexible and diversified

land acquisition strategy to invest in potential projects and locations with attractive price

Efficient Financing with Optimization and Expansion

Enhance capital utilization efficiency by strengthen the management of cash flow; optimize debt

structure by diversifying the financing channel and revitalizing the inventory; remain a prudent

development by assuring a high contract sales collection and remaining a reasonable net gearing

Nurturing Talents with More Incentive Measures

Optimize the effectiveness of organizational management to improve the team cooperation and

capacity per capita; improve the systematic talent training system with scientificity and encourage

innovation; implement triple incentive mechanism with bonus, option and co-investment

Strategies for 2019

35

Southwest，4%

Bay area，4%

West Strait

Economic

Zone，20%

High Quality & Abundant Saleable Resource

36

2019 Total Saleable Resource Amounts to RMB110.3 billion

2019 Saleable Resource by Region

Old Projects

26%

2H

60%

New Projects

74%

1H

40% Central Region，11%

Northwest ，1%

Yangtze River Delta Region，50%

Bohai Rim Region，10%

Suzhou Yuzhou Honor Hill (蘇州禹洲·嘉譽山)

Wuhan Yuzhou·Langham City Land (武漢禹洲·朗廷元著)

Hefei Yuzhou Galaxy Park (合肥禹洲·銀河Park)

Shanghai Yuzhou Country (上海禹洲府)

Key Projects in 2019

37

• Located at the intersection of Jiangcheng avenue and Taizi Hubei road in Wuhan Economic and Technological Development Zone. Traffic location advantage is obvious.

• GFA：857,663 sq.m.

• Unit size：91-165 sq.m.

• Land cost：RMB6,000/sq.m.

• ASP：≈ RMB18,028/sq.m.

• Located at the junction of Zhenshan road and Zhenbei road of Tongan town, Suzhou high-tech zone. It is close to the central expressway, with complete supporting facilities for life, education and business.

• GFA：293,000 sq.m.



• ASP：≈ RMB18,499/sq.m.

• Located in Maqiao, Shanghai Minhang District, next to the Hi-tech Development Zone and Zizhu hi-tech park. These industries attract a huge number of high-end citizens.

• GFA: 90,776 sq.m.

• Unit size: 75 – 120 sq.m.

• Land cost: RMB28,972/sq.m

• ASP: ≈ RMB43,945/sq.m.

• Located in the east of Xiaocheng road and the south of Logistics avenue, occupying the core geographical position of the main urban area, backed by a 200,000 sq.m. commercial complex, quite close to the subway, which is the most livable area in the region.

• GFA：520,000 sq.m.



• ASP: ≈ RMB14,124/sq.m.

Fuzhou Yuzhou Langham Lake (福州禹洲·朗廷灣)

Zhangzhou Yuzhou Castle above City (漳州禹洲· 城上城)

Qingdao Yuzhou Langham Garden (青島禹洲·朗廷名仕)

Huizhou Yuzhou Wujing The Scenery (惠州禹洲·五經山水大觀)

Key Projects in 2019 (Cont’d)

38

• Located in the core of Fuzhou High-tech zone. There are 34 listed enterprises and 184 high-tech enterprises in the zone, which attract a large number of high-tech talents, with infinite prospects in the future.

• GFA：43,000 sq.m.

• Unit size：60 – 133 sq.m.


• ESP： ≈ RMB21,900/sq.m. for High-rise & RMB30,000元/sq.m. for Villa

• Located in the south of Zhanghua Road, Zhangzhou, with convenient transportation, it is in the core area of the old city, and is equipped with mature supporting facilities.

• GFA：334,096 sq.m.



• ESP: ≈ RMB13,000/sq.m for upper levels.

• Located in the core area of Zhongkai Hi-tech Zone, next to the Dongguan - Huizhou high-speed rail link. Residents can enjoy convenient transportation and great growth potential

• GFA：191,159 sq.m.


• Land cost：RMB3,670 sq.m.

• ASP: ≈ RMB8,274/sq.m.

• Located in the west of Jimo business and trade center, it has well-developed transportation and the top 3 quality full - age education resources of Jimo City.

• GFA：156,725 sq.m.


• Land cost：RMB4,662 sq.m.

• ESP：≈ RMB15,300/sq.m for High-rise & RMB17,623/aq.m. for villa

39

Fuzhou ·Tianyue Bay

Appendix

Xiamen Real Estate Market Overview

40

71 72

401

168

81 103

67 68 117

151 118

90 66 78 85 68

119 68 61 52 47

68 64

118

31,536

39,151

33,567

33,693

35,266

35,271

38,282

33,377

32,178

35,292

34,105 35,355

36,371

39,219

29,609

31,942

35,080

36,609

43,027

36,690

40,929

35,761

38,676

38,493

0

10,000

20,000

30,000

40,000

50,000

0

100

200

300

400

500

Monthly Transaction Volume of Residential Properties '000 sq.m. ASP of Residential Properties RMB / sq.m.

2,246

1,248 1,474 1,373

2,131 1,655

1,586 1,416

2,622

4,777 4,490

3,144 3,516

2,731

1,505 896

3,399 3,479

11,972

11,532 5,829

28,769

25,658

24,567

13,905

13,482 15,701

19,848 20,535 26,518

34,375 36,600

-3,000

7,000

17,000

27,000

37,000

0

1,000

2,000

3,000

4,000

5,000

2011 2012 2013 2014 2015 2016 2017 2018

Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.

Per GFA Land Cost RMB / sq.m. ASP of Residential Properties RMB / sq.m.

Residential Land Supply and Property Transactions – Xiamen '000 sq.m. RMB/sq.m.

Source: CRIC, residential housing (excluding subsidized housing)

'000 sq.m. RMB/sq.m. Monthly Transaction Volume and ASP of Residential Properties

Source: CRIC, pure residential and commercial land obtained by bidding and auction in open market (excluding subsidized housing)

Fuzhou Real Estate Market Overview

41

81 104

148

54 62 80

97 128

152 187 172

237

165 128 133

114 74

98

141

300 225

336 355 377

16,942 16,187

17,037 18,751

20,347

18,680

22,414

24,965

24,397

21,926

25,376 23,675

23,433

23,014

23,057

22,508

22,904

24,934

23,835 24,721

26,060

25,964 27,147 27,274

0

5,000

10,000

15,000

20,000

25,000

30,000

0

100

200

300

400


3,850

3,135

4,948

2,319

2,594

4,385 3,791

5,085

1,875 2,524 2,764

2,410 3,023 2,652

1,501

2,446

4,490 3,060 3,913 3,659 10,466 9,305 10,190 9,786

14,231 14,188 16,372 16,552 14,910 16,879

21,636

25,292

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

0

1,000

2,000

3,000

4,000

5,000

6,000

2011 2012 2013 2014 2015 2016 2017 2018




'000 sq.m. RMB/sq.m.



Residential Land Supply and Property Transactions – Fuzhou

Shanghai Real Estate Market Overview

42

14,989

9,827

14,328

10,416 11,687

6,476

11,600 10,219

7,110

9,141

12,582

9,585

14,951 13,878

6,383 6,465

3,840 4,125 6,177 8,799 9,668

17,261

9,759 9860

22,140 22,378 24,025

26,988 32,112

38,331

47,909 53,432

0

10,000

20,000

30,000

40,000

50,000

60,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2011 2012 2013 2014 2015 2016 2017 2018



387 361

742 672 709 685 670

453 530

335 374 465 501

203

489 462 548

437

719 878

698 536 479 514

48,468

47,281

48,045 47,694

48,304 47,646

46,200

49,132

45,991

48,790

49,242 49,554

43,791

43,166

45,755

46,812

51,635

51,610

53,809 55,836

54,417

63,688

58,892

61,836

0

10,000

20,000

30,000

40,000

50,000

60,000

70,000

0

500

1,000

1,500






Residential Land Supply and Property Transactions – Shanghai

Hefei Real Estate Market Overview

43

216 212

210 219 265 230 405 435 553 436

587 305

711

284 170

1,321 1,352

916 945

529 419

962

2,539

946

11,693

13,228

13,873

13,486

11,560

12,672

11,557

11,617 11,894

11,690

14,295

15,125

13,696

13,160 14,739

12,742

15,005

14,911

15,623

13,243

13,042 14,886

17,182

15,775

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

0

500

1,000

1,500

2,000

2,500

3,000


10,805

16,620

21,566

18,732

13,837

12,682 11,800

10,487

4,519

8,141

12,247

9,240 9,147 8,965

4,074 11,095

1,641

1,468 1,641 2,050

3,509

8,839

6,581 5,955 6,854 6,478

6,735

7,672 8,500

11,199 12,666

15,041

-4,000

1,000

6,000

11,000

16,000

0

5,000

10,000

15,000

20,000

25,000

2011 2012 2013 2014 2015 2016 2017 2018







Residential Land Supply and Property Transactions – Hefei

Nanjing Real Estate Market Overview

44

616

337

649 723 1,001 860 833

488

915

533 676

1,239 994

394 451 657 635 565

1,064

568 523 552

967 918

20,764

21,107

20,187

20,878 20,955

21,151

22,063

21,519

24,899

20,931

23,417

20,734

23,506

21,732

22,324

20,167

20,634

22,450

26,095

24,233

23,518

23,203

26,686 26,770

0

5,000

10,000

15,000

20,000

25,000

-

500

1,000

1,500

2,000

2,500


9,288 7,905

11,691 13,323

9,793 10,387 9,087 8,104

3,638 6,944

9,295

8,615

12,787

15,860

8,869 8,288

2,711 3,376

5,768 4,070 7,180

14,550 12,349

7,858

11,831 11,245

12,576

13,804 15,140

18,913

21,601 23,896

0

5,000

10,000

15,000

20,000

25,000

0

5,000

10,000

15,000

2011 2012 2013 2014 2015 2016 2017 2018







Residential Land Supply and Property Transactions – Nanjing

Hangzhou Real Estate Market Overview

45

716 653

1,605 1,132

1,000

1,923 1,538 1,515

1,312

980 984

1,750 1,605

691

1,127 945 821

1,436 1,278

952 1,187

825 1,017

1,453

19,143

19,441

19,823 20,063

20,028 22,618

24,635

25,330

25,110 28,106

26,561 22,831

25,296

26,530

25,239 26,255

26,819

27,447

25,561

25,411

24,227 28,388

28,855

27,260

0

5,000

10,000

15,000

20,000

25,000

30,000

-

500

1,000

1,500

2,000

2,500

3,000


6,706 7,079

14,898

7,412 7,238

10,186 11,891

12,559

3,739

7,976 8,328 8,591 12,197

17,423

14,098 12,985

4,916 6,071

6,649 7,263 7,920

13,505 16,065 16,087

16,588 14,604

16,622 15,529

16,010 17,528

23,156 26,525

-3,000

2,000

7,000

12,000

17,000

22,000

27,000

0

5,000

10,000

15,000

20,000

2011 2012 2013 2014 2015 2016 2017 2018







Residential Land Supply and Property Transactions – Hangzhou

Suzhou Real Estate Market Overview

46

444 459

929

749 642

1,084

753 644

746 718

764 784 639

374 508

637 617 828

836 804 803 702

552

1,200 17,516

18,540 19,096

18,877

19,852 18,174

18,254

19,355 17,923

18,338 18,485

18,897

19,040

19,201 18,684

19,491

19,700

19,488

20,137

20,093

19,809

20,538

19,835 22,741

0

5,000

10,000

15,000

20,000

25,000

-

500

1,000

1,500

2,000


9,641 9,532 10,176 9,165 8,675

10,481

7,900 7,815

3,610

5,597 7,232 7,701

11,763 12,677

8,716 8,499.94

3,993 2,750

4,212 3,905 6,596

13,251 11,448 10,483

12,258

11,191 11,753 12,116

13,163

17,355

18,621 20,129

0

5,000

10,000

15,000

20,000

25,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

2011 2012 2013 2014 2015 2016 2017 2018







Residential Land Supply and Property Transactions – Suzhou

Wuhan Real Estate Market Overview

47

1,292 990

1,845 1,662 1,511 1,493 1,494

1,249 1,496 1,651 1,533

2,048 1,735

585 1,008

1,090 1,161 1,633

1,145

1,699 1,297

1,535 1,829 1,983

9,876

9,602

9,763

10,059

10,227

10,382

10,291

10,690

9,824

10,396

9,728

9,648

9,611

9,518 9,552 9,667

9,721 9,593

9,717

9,578

9,630

9,606

9,974 10,998

0

2,000

4,000

6,000

8,000

10,000

12,000

-

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000


22,082

44,027

24,864 23,539

16,440

17,993 27,856

25,162

7,489 10,844

14,807 16,255

21,468

28,798

18,263 16,700

1,898 1,831 2,276 2,178

3,267

5,060 4,991 4,713

7,407 7,155 7,093

7,796 8,810

9,432 10,031 9,823

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

11,000

0

10,000

20,000

30,000

40,000

50,000

2011 2012 2013 2014 2015 2016 2017 2018Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.






Residential Land Supply and Property Transactions – Wuhan

Tianjin Real Estate Market Overview

48

760 763

2,071

953 1,235

1,478 1,276

1,065 1,167

954 989 1,075

582 370

756 634

1,248 1,692

1,204 1,208 1,000 975

1,153 1,215

14,934

16,799 17,117

14,770

15,091

15,811 15,396

15,563

14,623 15,285

15,691

15,762

15,291

16,607 15,927

16,077

15,929

16,318

16,077

16,043

15,111

15,525

14,895

16,123

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

0

500

1,000

1,500

2,000

2,500

3,000

3,500


25,598

14,984 16,808

12,596

8,673

14,207

11,054

13,475

8,554 8,600 11,483

9,271

13,174

22,754

13,716 12,038

1,960 2,671 3,681

5,039 5,766

8,796

10,315

7,126

9,414 10,152 10,285

10,620 11,630

13,557

15,694 15,824

0

5,000

10,000

15,000

0

5,000

10,000

15,000

20,000

25,000

30,000







Residential Land Supply and Property Transactions – Tianjin

Huizhou Real Estate Market Overview

49

9,945

8,584

5,014 4,103

5,777

4,314

1,693 2,779

6,393 7,322 6,408

14,453

653 753 645 1,019 2,050

3,558

6,712 6,809 6,352 7,575

11,184 10,813

0

3,000

6,000

9,000

12,000

0

3,000

6,000

9,000

12,000

15,000

18,000

2013 2014 2015 2016 2017 2018Land Supply (GFA) for Residential Properties '000 sq.m. Transaction Volume of Residential Properties '000 sq.m.


381 354 792

609 574

410 241 330 437 501

823 956 1,000

711 1,049

1,189 2,216

1,415 1,514

1,165 1,083

1,050 1,062 1,000

9,798

12,087 11,966

11,819

11,978

11,487 10,671

11,201 12,054

10,899

10,585

10,133

9,355

10,519

10,025 10,086

10,791

11,555

11,086

10,860

11,374

11,228

11,256

11,182

0

3,000

6,000

9,000

12,000

0

500

1,000

1,500

2,000

2,500




'000 sq.m. Monthly Transaction Volume and ASP of Residential Properties


Residential Land Supply and Property Transactions – Huizhou

Shenyang Real Estate Market Overview

50

591 804 1,438

1,848 1,762 1,563 1,553

1,028

1,467 1,202 1,268 1,354

920 444

1,039

1,522 1,333 1,446

1,983

1,028 957 906 1,352 1,289

7,347 7,353 7,543

7,565 7,792 7,561

8,566

7,304 8,165

8,387

8,372

8,472

8,258 8,050

8,472 9,069 8,894

8,794

9,270

10,175

9,675

9,901

9,309

9,397

0

2,000

4,000

6,000

8,000

10,000

0

1,000

2,000

3,000

4,000


29,331 32,606 27,822

10,375 6,906 7,192

5,556 8,410

13,739 11,068

14,233 11,128

13,712 14,879

15,879 14,217

1,442 1,590 1,700 1,307

2,228

4,263 3,595

6,383 7,112

7,189 7,003

6,450 7,022 7,909

9,151

0

3,000

6,000

9,000

0

10,000

20,000

30,000

40,000

50,000



1,401





Residential Land Supply and Property Transactions – Shenyang

Quanzhou Real Estate Market Overview

51

111 206

170 169 198 208 177

144 170 187

116 184

286 207

281 261 304

293 276 265 298 241 245

308

9,189 8,889

9,816 9,510

9,047 9,340

10,428

10,544 11,080

9,491

9,400 10,049

11,191 12,461

12,003

11,563 9,653 9,933

9,706 9,764

8,942

7,989

8,692 9,377

0

2,000

4,000

6,000

8,000

10,000

12,000

-200

300

800


1,849

684

1,043

1,415 1,506

248

1,187

2,029

1,284 1,325

2,385

1,486 1,302

2,319

2,042

3,268

1,696 1,530 2,266

3,707

6,397

1,728

3,642

8,743 7,938

8,632 8,770 8,865 9,146 9,717

10,072

0

3,000

6,000

9,000

0

1,000

2,000

3,000

4,000



1,553



'000 sq.m. Monthly Transaction Volume and ASP of Residential Properties


Residential Land Supply and Property Transactions – Quanzhou

Chongqing Real Estate Market Overview

52

2,241 1,501

2,431 3,025 2,418

2,061 1,831 1,687

1,782 1,993 2,170

3,337 2,169

1,588 2,684 2,199

2,728 3,499

1,965 2,277 2,552 1,903

1,411 2,412

8,077 7,748

8,119 8,812 9,187

9,653

9,173

9,020 9,027

9,601

9,784

9,414

9,790

10,162

10,214

10,750

11,328

12,097

11,367

11,329

11,672

11,262

11,399 11,422

0

2,000

4,000

6,000

8,000

10,000

12,000

0

2,000

4,000

6,000

8,000


19,078

54,843

121,437

68,290 69,367

39,965 41,162 50,513

19,600 19,844

18,509 17,442 21,519 26,276 27,386 2,715

1,338 1,130 1,208 1,441 2,809 2,280

6,409 6,803 6,637 6,616

6,994

9,032

11,123

0

3,000

6,000

9,000

12,000

0

20,000

40,000

60,000

80,000

100,000

120,000

140,000

2011 2012 2013 2014 2015 2016 2017 2018



1,415





Residential Land Supply and Property Transactions – Chongqing

Qingdao Real Estate Market Overview

53

20,138

17,052

21,401

25,232

10,180 11,720 12,982

19,513

5,922

7,942 9,756

7,303 10,289

17,031

14291 15331

1,322 1,354 1,102 1,322

2,144 1,638 2,653

2,849

7,450 8,010

8,767 8,446 8,528

8,926

11,113

13,701

0

3,000

6,000

9,000

12,000

0

3,000

6,000

9,000

12,000

15,000

18,000

21,000

24,000

2011 2012 2013 2014 2015 2016 2017 2018



1,182 1,158 1,761

1,416 1,514 1,358 1,294 1,453

1,139 1,419 1,499 1,486

1,115 857

1,726 2,193

1,486

1,148 1,365

1,231 920

690

2,016

1,168

9,765

9,397 9,550

9,935

10,410

10,874 10,979

11,496 11,216 12,684

12,568 13,615

12,952

13,190

13,147 13,592

14,476 14,922

13,824

13,965

13,671

13,169

14,581 15,898

0

3,000

6,000

9,000

12,000

15,000

0

1,000

2,000

3,000

4,000

5,000





Monthly Transaction Volume and ASP of Residential Properties

Residential Land Supply and Property Transactions – Qingdao


FY2018 FY2017 Changes

Revenue (RMB’000) 24,305,871 21,700,673 +12%

Gross profit (RMB’000) 7,467,245 7,683,054 -3%

Gross profit margin (%) 30.72% 35.40% -4.68pp

Core profit (RMB’000) 3,418,537 2,923,989 +17%

Core profit margin (%) 14.06% 13.47% +0.59pp

EPS (RMB/share) 0.78 0.70 +11%

CEPS (RMB/share) 0.79 0.74 +7%

FY2018 Key Financials

54

(RMB’000)

As at 31 Dec 2018 As at 31 Dec 2017 Changes

Total assets 115,063,004 79,904,817 +44%

Total liabilities 93,632,652 62,461,581 +50%

Total equity 21,430,352 17,443,236 +23%

Total cash 29,279,350 17,498,208 +67%

Total debt 43,631,855 27,567,486 +58%

Net debt 14,352,505 10,069,278 +43%

Net gearing ratio (%) 66.97% 57.73% +9.24pp

FY2018 Key Financials

55

凡大成者，必取於勢，優於術，精於道。

官方微信公眾號 yuzhouproperties

Yuzhou Properties will remain resilient in the face of the ever-changing

market environment. Capitalizing on the development of new urban areas,

it will stick to the “A Journey to 100 Billion with Nationwide Cultivation”

strategy. Emphasis will be placed on strengthening its presence in six

metropolitan areas. It will also step up its efforts in consolidating its real

estate business while striving for diversified development potential in a

bid to achieve its target of RMB100 billion by 2020.

禹洲地產，鵬程正舉。

PowerPoint 簡報webcast.live.wisdomir.com/yuzhou_18ar/ppt.pdfFounder 4 Deputy to the National...

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