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Jiayuan International Group Ltd., 02768.HK - Company Profile
Chairman	Shum Tin Ching (also known as Shen Yuxing)
Share Issued (share)	4,056,000,000
Par Currency	Hong Kong Dollar
Par Value	0.01
Industry	Property Development
Corporate Profile	Business Summary: The principal activities of the Group are property development and property investment in China. Performance for the year: The Group’s revenue was approximately RMB16,070 million in 2019 as compared to approximately RMB13,616 million in 2018, representing an increase of approximately RMB2,454 million or 18%. The Group’s revenue in 2018 was RMB10,459 million in its 2018 annual report (before restatement). The Group’s gross profit increased by 16% to approximately RMB5,242 million in 2019 as compared to RMB4,504 million in 2018. The Group’s gross profit in 2018 was RMB3,306 million in its 2018 annual report (before restatement). Gross profit margin of the Group maintained at 33% for the years ended 31 December 2019 and 2018. Core net profit of the Group for the year(Note 1) was approximately RMB2,343 million in 2019, as compared to approximately RMB1,936 million in 2018 representing an increase of 21%. The core net profit of the Group in 2018 was RMB1,463 million in its 2018 final results announcement (before restatement). Net profit of the Group for the year amounted to approximately RMB2,460 million in 2019 as compared to RMB2,352 million in 2018, representing an increase of 5%. The Group’s net profit in 2018 was RMB1,863 million in its 2018 annual report (before restatement). Basic earnings per share of the Group amounted to RMB52.03 cents in 2019. Business Review: Record High Sales Taking an overview of 2019, the Group continued to develop by surmounting difficulties and precisely grasping opportunities for development brought by the PRC’s continuous economic growth, implementing the development model of “focusing on real estate with diversification”. The Group recorded a significant increase in sales. As at 31 December 2019, the contracted sales of the Group amounted to approximately RMB29 billion, representing a year-on-year increase of approximately 43%. Contracted sales area of the Group amounted to approximately 2,445,666 sq.m., representing a year-on-year increase of approximately 37%. The average price of contracted sales amounted to approximately RMB11,804 per sq.m., representing a year-on-year increase of approximately 5%. National Layout Highlighting Strategic Values The Group fully understood that land reserves are important foundation for development for property developers. In 2019, the Group ventured into certain key cities with high growth potentials and acquired premium projects in Anhui, Nanjing, Yangzhou and Yancheng with total gross floor area (“GFA”) reaching 5 million sq.m. at a low premium through project merger and acquisition, tender and bidding in the public market and joint development. Besides, in terms of regional development strategy, the Group will continue to strictly follow the “13th Five-Year Plan” of the PRC and maintain its focus on four main areas, namely the Guangdong-Hong Kong-Macao Greater Bay Area, Yangtze River Delta Economic Zone, key provincial capital cities, as well as cities along the “Belt and Road” regions. The Group will continue to focus on development of largescale residential and commercial complex projects, diversifying businesses and further increasing land values. Layout of the Guangdong-Hong Kong-Macao Greater Bay Area Taking Shape The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area has been issued by the Hong Kong government, stating the intention to build the Greater Bay Area into an international center of technology and innovation. As one of the regions with the best comprehensive strengths and the most vivid economy in the PRC, occupying a land area of 56,000 sq.km. and with a population of more than 70 million, the Greater Bay Area is considered a major driver for global economic growth in the future. In 2016, the Group took the lead in entering city clusters in the Greater Bay Area and has obtained premium land parcels in Hong Kong, Macao, Shenzhen and other cities of Guangdong Province, so as to derive benefits from the economic boom in the Greater Bay Area. As high-end talents keep moving to the region and with increasingly better infrastructure and supporting facilities for daily living, the Group anticipates that the Greater Bay Area will then become a “one-hour high-quality living sphere” where the travelling time among key cities and peripheral cities will be within one hour. There will be immense potential of appreciation in value for properties in the region. Broadening Financing Channels and Boosting Financial Strengths The Group strongly believes that solid financial strengths are important pillars of its diversified business development. Therefore, the Group strove to speed up cash recovery from property sales, actively strengthened its control over the degree of leverage and fortified its capital management and expense control abilities during the year 2019, and set up special programs and issued senior notes through various financing channels to optimize debt and capital structure, including the setting up of “Jinyuan – Jiayuan International’s Account Receivables for the Balance Payment of Properties Sold AssetBacked Special Program” in September 2019 to issue asset-backed securities to eligible investors backed by the account receivables for the remaining payment balance of properties sold, with an issue size of approximately RMB430 million, which were quoted and traded on the Shanghai Stock Exchange; and the public issue of 505 million USDdenominated senior notes due 2022 and 238 million USD-denominated senior notes due 2023. The Group’s ratio of long-term debts to short-term debts optimized from 5:5 to 7:3, while its net gearing ratio also significantly improved with a decrease to approximately 78%, thereby further boosting the Group’s financial strengths and assisting the Group in exploring more financing channels in the future. In October 2019, Moody’s Investors Service has upgraded the Company’s corporate family rating to “B2” with a stable outlook rating. Sound Investor Relations and Uplift of Corporate Transparency In 2019, the Group continued to participate in exchanges and roadshows held by major financial institutions, such as the Interim Strategy Meeting 2019 organised by Industrial Securities (興業證券2019年中期策略會), as well as 2019 Listed Companies Cross Border Roadshow Week (2019上市公司跨境路演周) jointly organised by International Roadshow Center (上市公司跨境路演平台) and SWS Research (申萬宏源研究). Through such interactions, the Group shared its performance and development with domestic and foreign investment banks, rating agencies, investors and analysts and successfully established sound bilateral channels of communication. Market Recognition for the Group’s Overall Performance In 2019, the Group achieved bright business performance. The Group was awarded with the “Outstanding Listed Companies Award 2019” by the Hong Kong Institute of Financial Analysts and Professional Commentators Limited, the “Listed Company Awards of Excellence 2019 – Main Board (Large Cap)” granted by Hong Kong Economic Journal, and, for the fourth time consecutively, the accolade of “Hong Kong Outstanding Enterprise” awarded by Economic Digest. Meanwhile, a number of the Group’s property projects won accolades from various media and organisations, including “Yangzhou Popular Real Estate Award 2019” (2019年揚州人氣樓盤獎) in respect of Yangzhou Jiayuan Jiulong Bay (揚州佳源玖瓏灣), the “15th Internet Popularity List of PRC Real Estate – High-quality Influential Property Project” (第十五屆中國房地產網絡人氣榜品質影響力樓盤) in respect of Yangzhou Jiayuan Guifu (揚州佳源桂府) awarded by Fang.com (房天下) and “Jiangsu’s Properties with Exemplary Living Environment” (江蘇人居環境典範樓盤) in respect of Taixing Jiayuan Venice Metropolis (泰興佳源威尼斯城) and so forth, which were testimony of the influence of the “Jiayuan” brand in the real estate market in the PRC. Performance of Corporate Social Responsibilities and Fostering Sustainable Development With devotion and commitment to the communities in its property projects, the Group performs its corporate social responsibilities to foster the sustainable development of such communities. In 2019, the Group also participated in charitable activities organised by charitable organisations, such as visiting youths and senior citizens in the community organised by the Kwun Tong Methodist Social Service, which conveyed positive energy to and encouraged these youths and senior citizens to face their life with positive attitude. In addition, the Group pushed ahead with green awareness in the community and encouraged staff members to practice low-carbon living, while fully supporting and participating in charity related to sports and culture. Prospects: In 2020, the Group expects that the PRC government will continue to implement different control policies and speed up the establishment of a long-term mechanism for the PRC real estate market to promote its steady and healthy development. However, the county and township dwellers have an ongoing desire to improve their living conditions since urbanisation is far from over. To embrace the challenges and opportunities brought by the change of the market, the Group will continue to strictly implement prudent financial policies and risk control measures, ensure construction quality and labour safety, strengthen its contracted sales and cash collection and apply strict cost control to strengthen operating cash flows and procure investment returns. The COVID-19 outbreak at the beginning of 2020 had certain impact on the overall economy. Whilst the Group does not have projects in Hubei Province, the nationwide epidemic prevention and control measures adopted by the government has had impact on the Group’s sales in February, although the impact will be temporary and limited in the opinion of the Group. The Group has also taken multiple anti-epidemic measures in a timely and effective manner, actively exploring innovative models such as online sales and enhancing management of accounts receivables to adapt to and cope with market changes. From 24 January to 8 February 2020, the Group provided rental reductions for some of its leasable properties, actively supporting the PRC government’s epidemic prevention and control to facilitate the anti-epidemic work. The Group attaches high importance to the physical health of property owners and employees and carried out selfprotection properly to cement a safety defense line for anti-epidemic for the community. With generous support and strong leadership from the PRC government, the gradual progress in its epidemic prevention and control efforts, relevant relief policies constantly coming into effect and industries resuming operation in an orderly manner, the Group believes the ever-growing trend in the PRC economy will not change. At present, construction and production are gradually resuming at the Group’s projects. The Group is fully confident of the long-term development of the real estate market. In addition, the Group will continue to replenish its premium land bank by adopting pragmatic strategies for land acquisition, optimize the strategic layout of various key regions, and develop competitive and premium properties to suit the different urbanisation stages of the PRC with a view to meeting market demand in different regions. Going forward, while maintaining healthy development, the Group will make flexible adjustments according to market conditions, seeking to achieve continuously high-quality and well-coordinated development for overall uplift of profitability, so as to maximise value for its shareholders.

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Public company info - Jiayuan International Group Ltd. , 02768.HK