ChinaNet Finance, March 24:Henderson LandThe 2020 Annual Results Report (“Annual Report”) released on the 23rd showed that during the period, revenue of HK$25.02 billion was achieved, and net profit attributable to shareholders was HK$10.192 billion, a year-on-year decrease of 40.3%.

According to the annual report, net sales revenue attributable to Hong Kong property sales and profit before tax were recorded at HK$14.042 billion and HK$7.730 billion respectively, up 0.1% and 53% from last year.

According to financial data, as of December 31, 2020, net borrowing was HK$88.138 billion, while the loan ratio was 26.9% (2019:25.5%), a slight increase from year to year.

Rent fell 7% year-on-year

In terms of rental property, the Group's total rental revenue due in Hong Kong fell 7% from last year to HK$6.774 billion, while net rental income before tax fell 11% from last year to HK$5 billion. The average occupancy rate of the Group's major rental properties at the end of December 2020 was 94%.

In terms of mainland properties, the Group will continue to search for investment projects in first-tier and key second-tier cities and strengthen cooperation with mainland developers. At the end of December 2020, the Group's unrecorded property contract sales amount amounted to HK$10.69 billion.

Due to the fact that the cumulative number of pre-sale properties completed and delivered this year was higher than last year, Mainland property sales turnover and pre-tax profit recorded in the Group's financial statements were HK$7.066 billion and HK$1.919 billion, respectively, up 131% and 131% from last year.

In addition, the Group recorded total contract sales of approximately HK$6.39 billion this year, while sales of 4 million square feet of floor space were reduced by 23% and 23% respectively from the previous year.

On December 31, 2020, in addition to having a self-occupied floor area of about 800,000 square feet of inventory, the Group also had land reserves for development in 14 cities. A total floor area of about 30.1 million square feet was occupied by the Group, of which about 73% could be developed into residential properties.

Looking ahead, the Group has recently completed the acquisition of all property rights and will be merged into a new community with a floor area of 1 million square feet. In addition, the Group's New Territories land reserves increased by about 590,000 square feet to about 44.4 million square feet, continuing to be the largest land developer in the New Territories in Hong Kong. On the mainland, five development projects have been obtained in Guangzhou, Chengdu, Suzhou and Xiamen, adding a total of about 460 square feet of floor space that can be occupied by the Group.

(China.com Financial Roundup/Ding Yi)