Fortuo News learned that the China Olympic Garden released its 2017 results:
Contract sales were about 45.59 billion yuan, an increase of 78.1% over the same period last year. The compound annual growth rate is 54.1%. The turnover was about 19.115 billion yuan, an increase of 61.6% over the same period last year. The net profit was about 1.952 billion yuan, an increase of 93.9% over the same period last year. The basic earnings per share is 61.35 cents. The core net profit is about 1.889 billion yuan, an increase of 54.5% over the same period last year. It is recommended to pay a final dividend of RMB 25 cents per share.
Affected by this news, the Chinese Olympic Garden opened high and left high this morning. As of press release, it rose 2.87% and quoted a price of 7.18 Hong Kong dollars.
Contract sales are growing rapidly, with the Greater Bay area contributing a large part.
As of December 31, 2017, the total contract sales of the China Olympic Garden reached about 45.59 billion yuan, a substantial increase of about 78.1% over the whole of 2016. For the whole year, the contract sales area was about 4.49 million square meters, an increase of about 50.6 percent over the same period last year; the average selling price was 10158 yuan per square meter, an increase of 18.2 percent over the same period last year. From Guangdong-Hong Kong-Macau Greater Bay Area city contribution contract sales of about 24.28 billion yuan, accounting for about 53% of the total contract sales, excellent performance.
The property development business is growing rapidly, contributing 94% of the revenue.
According to the announcement, the company's turnover mainly comes from property development income. Property development income, other income from hotel operation, and property investment income accounted for 94.0%, 5.4% and 0.6%, respectively. Among them, the sales income of property development was 17.96 billion yuan, an increase of 59.8% over the same period last year.
In terms of profit, the company's gross profit increased by 56.0% year-on-year to 5.111 billion yuan. The gross profit margin was 26.7%, mainly due to the rise in property development costs and the decline in the proportion of recognized income from shops and commercial apartments.
In addition, as for the land reserve, as at 31 December 2017, the total land reserve of the China Olympic Garden was about 24.87 million square meters, and the average cost per square meter of construction area of the land reserve was 2131 yuan. of these, 2.56 million square meters are completed properties, 9.01 million square meters are under construction, and 13.3 million square meters are land for sustainable future development. (editor / Zhao Xianju)