Tag: DaFa Properties

DaFa Properties Announces 2020 Interim Results

The board (the “Board”) of directors (the “Directors”) of DaFa Properties Group Limited (“DaFa Properties” or the “Company”, together with its subsidiaries, the “Group”; Stock Code: 6111.HK) is pleased to announce the unaudited interim consolidated results for the Group for the six months ended 30 June 2020 (the “Reporting Period”).

DaFa Properties 2020 Interim Financial Highlights
(For the six months ended 30 June 2020)
– Contracted sales were approximately RMB 11,208 million, a significant year-on-year increase of approximately 58%;
– The contracted sales area was about 800,793 square meters, a year-on-year increase of approximately 36%;
– Total assets are approximately RMB335,67 million, a year-on-year increase of approximately 21%;
– Declares an interim dividend of RMB3.4 cents per share for the six months ended 30 June 2020

In the first half of 2020, DaFa Properties achieved sustainable growth, performed excellently in multiple dimensions including contracted sales, land reserves, capital, and the financial structure, etc., indicating araised speed and efficiency for high-quality growth. The Group has been intensively penetrating the real estate market in the Yangtze River Delta Region. During the Reporting Period, the Group recorded accumulated contracted sales of approximately RMB11,208 million, a significant year-on-year increase of approximately 58%, the accumulated contracted GFA of the Group recorded a strong growth of approximately 36% to 800,793 sq.m. and the contracted average selling price was approximately RMB13,996 per sq.m, increased by approximately 16% over the same period of last year. Among them, contracted sales in the Yangtze River Delta accounted for 86% and the contracted sales area accounted for 77%.

With Abundant Capital and Stable Financial Position, the Asset Scale was Further Increased
During the Reporting Period, DaFa Properties recorded revenue of approximately RMB3.472 billion, the gross profit was approximately RMB698 million. The Group’s assets scale has further increased, with total assets increasing by approximately 21% year-on-year to approximately RMB335,67 million. During the Reporting Period, total cash and bank balances (including restricted cash and pledged deposits) of the Group was approximately RMB5,793.1 million, representing a year-on-year increase of approximately 23% with abundant capital. The net gearing ratio of the Group has further decreased to 71.7%, showing that the debt reduction measure was significant, and the financial structure was stable.

Planting Roots in Core Areas in the Yangtze River Delta, Continue to Expand the National Market
In the first half of 2020, Dafa Properties acquired 16 new land parcels in Suzhou, Changzhou, Wenzhou, Ningbo, Nantong, Nanjing, Wuxi, Wuhu, etc. While selectively penetrating its business into the five major urban clusters of Chengyu, central China, western China, Bohai Rim, and Guangdong-Hong Kong-Macao Greater Bay Area, the Company further specified the “1+5+X” layout system, continued to expand the national footprint. The Company currently has 82 projects under development and completed, 70 of which are located in the Yangtze River Delta Region. The total construction area of new land reserves accounts for 73% of the Yangtze River Delta region.

Improvement in Credit Indicators, and Gained Continuous Attention from the Capital Market
DaFa Properties has been committed to maintaining a healthy financial and capital structure. In May this year, Moody’s, a top international rating agency, reiterated the corporate credit rating of B2 for the Company, with a stable outlook. Also, in its property industry research report, Essence International maintained a “Buy” rating on DaFa Properties and offered a new target price of HK$5.50, indicating that the Company has been continuously concerned and recognized by the capital market. Besides, the Group has always attached great importance to brand building. In the first half of the year, Dafa Properties successively won several awards in different fields, such as the “Stable Operation Enterprise Award”, “2020 Top 100 Listed Property Developers in China”, “2020 Top 10 Listed Property Developers in China by Risk Control Capability”, and “10th International Space Design Award Idea-Tops”.

Mr. GE Yiyang, Chairman of DaFa Properties said: “Looking forward to the second half of 2020, there are many uncertainties and challenges in the PRC and even global economic prospects. DaFa Properties will remain prudent and continue to develop its business with national policies as guidance. Meanwhile, it will plant roots in important target areas and carry out strategic expansion to further enlarge land reserves and increase contracted sales. This year, DaFa Properties will continue to explore more possibilities of online marketing channels to supplement the limitations of traditional offline marketing and drive business growth through smart and innovative marketing.

As a “pleasant living service provider”, the Group has always valued brand building and provided its customers with excellent product quality and life experience through a continuous upgrade of the brand concept. Also, we have been expanding diversified financing channels at home and abroad, optimizing the financial structure, assuming social responsibility, and continuously creating value for shareholders. DaFa Properties will constantly increase in both velocity and efficiency, maintain comprehensive competitiveness, and obtain steady growth.”

About DaFa Properties Group Limited
DaFa Properties Group Limited (DaFa Properties), incorporated in 1996 and headquartered in Shanghai, is a real estate developer specializing in developing and selling residential properties mainly in the Yangtze River Delta Region. The Group has vigorously practiced the brand positioning of “Design for Life” and upheld the business philosophy of “Integrity, Innovation, Pursuing Excellence” for years, and provided customers with quality properties and creating specific living scenarios through high-quality real estate properties. As of 30 June 2020, the Group, together with its joint ventures and associates, had 82 projects under construction and completed in total, of which 70 are based in the Yangtze River Delta Region. As a “pleasant living service provider”, DaFa Properties has built its sound reputation, thanks to its 24 years of extensive industry experience, outstanding product quality, and product portfolios. It will continue to unremittingly dedicate itself to build better city life, improve living quality, and raise residential experience standards.

DaFa Properties Welcomes First Anniversary of Listing After 23 Years of Fast and Steady Operations

DaFa Properties Group Limited (“DaFa Properties” or the “Company”, together with its subsidiaries, the “Group”; stock code: 6111.HK) is pleased to announce its first anniversary of listing on the Main Board of the Hong Kong Stock Exchange since 11th October 2018. Reviewing the year after listing, the Company had a lengthy parade of highlights in its business results, which included the marked enhancements and increases of its operational capabilities and various profit indicators, and its widening recognition in the international capital markets. In the year, with its united efforts, the Company successfully delivered commendable business results in celebration of its first anniversary of grand listing.

In the first half of 2019, in its first interim report, the Company announced increases in both revenue and profit. As of 30th June 2019, it recorded revenue was RMB3,974 million, representing an increase of 303% over the same period of 2018.Gross profit was RMB961 million, representing an increase of 228% over the same period last year. For the first time, the Company declared an interim dividend of 8.5 HK cents per share, which represented a dividend payout ratio of 20% and indicated a considerable increase in profitability. Compared with the corresponding period last year, the Company’s contracted sales soared 41%, 96.2% of which derived from the Yangtze River Delta region, and contracted GFA grew 133%.

Earn Perennial Recognition from Capital Market with High-quality Development
In 2019, the Company notched up a series of awards including the “China’s Top 5 Fast-growing Real Estate Listed Companies 2019”, “2019 Most Recognised Real Estate Companies by the Capital Market”, “Top 10 Corporate Governance of Chinese Listed Real Estate Companies for 2019”, “Top 100 Comprehensive Strength Listed Real Estate Enterprise of China for 2019”, “Real Estate Companies with Excellent Investment Value for 2019”, “Emerging Outstanding Listed Company Award 2015” and “China’s Valuable Listed Real Estate Company for 2019”, which reflect that the Company has gained market attention and recognition with its capabilities.

In addition, by formulating “Big Finance” construction plans, the Company strictly controls risks, closely monitors various financial indicators, pays attention to cash flow and repayment and increases financing channels using its stable and healthy financial status, in order to maintain the normal and efficient flow of its corporate finances. In the first half of 2019, the Company was assigned a “B2” rating with stable outlook by Moody’s and another “B” with stable outlook by S&P. Between April and July 2019, the Company issued notes worth a total of US$300 million.

Focus on “1+5+X” Strategies and Specify Layout for More Land Reserves
As of the first half of 2019, the Company possessed land reserves totalling approximately 4.32 million sq.m., which included 13 new plots of land and 1.28 million sq.m. newly obtained land reserves. Concurrently, the Company was committed to its prudent investment principles and carried out strict measurement and discussions on all the newly added land.

Under industry trends and its development needs and strategic guidance for deep penetration of the Yangtze River Delta region and presence in the golden metropolitan clusters nationwide, the Company further specified its “1+5+X” layout system by intensively penetrating the Yangtze River Delta region while extending its presence into the five major urban clusters of Chengdu and Chongqing, areas around Xi’an, North China, Bohai Rim and Guangdong-Hong Kong-Macao-Greater Bay Region, as well as maintaining its strategic focus on other key cities with high development potential. The Company’s deep penetration of its key target areas and strategic expansion help the sustainable development of its land reserves.

Follow Trend of Pleasurable Home Creation and Lead Industry with Situational Properties
Since its inception, the Company has been persistently committed to innovation; on 19th December 2018, its brand and the “Bliss” product series were launched worldwide. Through technological empowerment, the Company has established the diverse Yue scenes – “Eight Yue Scenario Systems”. By complying with the “80% standardisation + 20% personalisation” principle, the Company integrates regional cultures into its product design concepts to create products in line with the city context and temperament. At present, the concept of a “Yue Lifestyle with Chinese characteristics” has been realised one after another in the “Bliss Series” and “Metropolitan Series” projects.

In the first half of 2019, the Company achieved an average sales percentage of over 80% in its first project, beating its competitors in terms of the prices and sales rate. Apart from that, the Company was awarded the Real Estate Design China Award (Merit) for its Zhoushan Dafa-Bliss Xinjie Residence and Wenzhou Dafa-6 The Metropolis Drive projects. Moreover, it has received recognition from the real estate industry for its operational capabilities, claiming awards such as the “Mall China Golden Mall Awards 2018 Format Innovation Award” and “2018 Most Innovative Enterprise Award” for its innovation and widespread trend influence in the Nanjing IST Mall.

Mr. Ge Yiyang, Chairman of DaFa Properties, said that “After 23 years of continuous efforts, DaFa Properties finally welcomes its first listing anniversary. Looking forward, based on the four major principles of excellent operation, scenario experience, technological empowerment and pleasurable home creation, the Company will continue to be oriented towards national police, follow city development trends and conduct deep penetration and exploration in entering more cities and achieving exponential growth. Besides, in implementing its brand concept of ‘life-driven innovation’ and ‘1+5+X’ strategic layout guidance, the Company will continuously explore new needs for human residences, and fully utilise its competitive and development advantages by way of IP creation for its ‘Bliss’ product series with ingenuity, as well as its forward strategic layout and stable financial policies, so as to realise extensive development and steady growth.”

About DaFa Properties Group Limited
Establiahsed in 1996 and headquartered in Shanghai, DaFa Properties is a real estate developer in the Yangtze River Delta Region focusing on the development and sales of residential properties. Over the years, the group has positioned its brand as “Designing for Life” and adhered to the business philosophy of “Pursuing Excellence with Integrity and Innovation”, providing customers with top quality properties and specific living scenes through the development and construction of premium properties. As of June 30, 2019, the group had a total of 38 projects under construction, completed and acquired in the Yangtze River Delta Region, 2 projects under construction in Chengyu Metropolitan Cluster, and 1 project under construction in the Guangdong Region. As the creator of “Situational Real Estate” and with 23 years of experience in the industry, DaFa Properties has built a solid reputation upon exceptional product quality and product offering. In the future, it will continue to uphold the goal of building a better life for people, improving their living environment and enhancing their living quality.

Source: ACN Newswire