Core ideas:

Rongan Real Estate started in Ningbo, with sales of 44.8 billion yuan in 2020, of which Ningbo contributed 11.52 billion yuan, accounting for 25.7% of the total contract sales. The company's investment has long been focused on the Yangtze River Delta and more than 90% of the existing available resources are located in the Yangtze River Delta, so the company's accounts received in advance are expected to increase steadily in the future, drive the growth of carry-over income, and finally achieve the sustainable development of the company.

First, actively expand the land reserve, and ensure the future growth of marketable resources in the Yangtze River Delta. Rong'an Real Estate added 3.054 million square meters of land reserve construction area in 2020, an increase of 125.4% over the same period in 2019. The company has long adhered to the cloth Director Triangle region. By 2020, the proportion of marketable resources in the Yangtze River Delta region to the total available resources is 93.9%, which is conducive to ensuring the stable growth of future sales performance.

Second, monetary funds continue to increase and have strong short-term solvency.

In 2020, Rongan Real Estate recorded a monetary fund of 7.73 billion yuan, an increase of 11.5% over the same period last year. The company has sufficient monetary funds and the ratio of short-term cash to short-term debt is more than 1.1 times, so the risk of short-term debt repayment is relatively low. At present, the company continues to expand financing channels, actively adjust the financing structure, the future debt indicators may be further optimized.

Third, the ability of cost control is strengthened, and profitability is expected to continue to improve. From a comprehensive point of view, the business income of Rongan Real Estate is increasing year by year, and under the background of increasing sales efforts and focusing on the director's triangle, the speed of capital return is accelerated, which is conducive to the growth of revenue for the company. At the same time, the control of expense rate is conducive to strengthening the upward profit margin, and finally achieve the improvement of profitability.