Zitong Financial App News, China Olympic Garden (03883) announced its 2020 results, with a turnover of 67.794 billion yuan, an increase of 34% over the same period last year. The net profit was 7.05 billion yuan, up 35% from the same period last year; the net profit margin was 10.4%. Net profit attributable to shareholders was 5.91 billion yuan, up 41 per cent from a year earlier. Basic earnings per share were 218.84 cents, up 40 per cent from a year earlier. It is proposed to pay a final dividend of 66 cents per share and a special dividend of 11 cents per share, with a total dividend of 77 cents per share (equivalent to 91.5 Hong Kong cents), an increase of 40 per cent year-on-year.
Of this total, the sales income from property development was about 64.417 billion yuan, up 33.9% from the same period last year. The total floor area of the properties delivered was 6.89 million square meters, up 32.2% from the same period last year; the average selling price was about 9349 yuan per square meter, up 1.3% from the same period last year, mainly because the average sales price of residential apartments, which accounted for the highest proportion of properties delivered, increased by about 3.2% over the same period in 2019.
During the period, the group achieved property contract sales of about 133.01 billion yuan, an increase of 13% over the same period last year, successfully achieving its annual target against the trend and ranking among the top 30 real estate enterprises in the country.
During the year, 10 urban renewal projects were transformed, 8 of which were transferred to land reserves, bringing a saleable value of about 38.2 billion yuan. At present, the group has achieved full coverage of the "three old" transformation of the old city, the old village and the old factory, and won a series of industry honors such as "2020 China Real Estate Development Enterprise Urban Renewal TOP 8".
During the period, the group added about 20.15 million square meters of floor space and a new saleable value of about 242.6 billion yuan. In terms of goods value, 57% are collected through mergers and acquisitions, 27% by auction, and 16% by urban renewal and others. The urban energy levels of the new projects have further increased, with first-and second-tier cities accounting for about 70% of the new salable value.
By the end of 2020, the group had more than 60 urban renewal projects at different stages, with a total planned construction area of 42.85 million square meters and a planned salable area of about 22.46 million square meters, with an additional saleable value of about 673 billion yuan. Guangdong-Hong Kong-Macau Greater Bay Area accounted for 97%, about 655.2 billion yuan.
As of December 31, 2020, the group has about 370 projects, distributed in 95 cities at home and abroad, with a total construction area of 57.18 million square meters (71% equity ratio) and a total goods value of about 620.8 billion yuan. the total value of goods included in the urban renewal project is about 1.2938 trillion yuan, which is enough to meet the development needs in the next four to five years.
In 2020, the cash recovery rate of the Group's property contract sales (the total amount of sales received in 2020 divided by the annual property contract sales) was about 85%.