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Public company info - China Aoyuan Group Limited , 03883.HK
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China Aoyuan Group Limited, 03883.HK - Company Profile
Chairman Guo Zi Wen
Share Issued (share) 2,703,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The Group is principally engaged in property development, property investment and others(hotel operation, provision of property management services and sales of goods). Performance for the year: Revenue for the year was RMB50.53 billion, representing a year-on-year increase of 63%. Gross profit for the year was RMB15.02 billion, representing a year-on-year increase of 56%; gross profit margin was 29.7%. Net profit for the year was RMB5.22 billion, representing a year-on-year increase of 78%; net profit margin was 10.3%. Core net profit for the year was RMB5.12 billion, representing a year-on-year increase of 67%; core net profit margin was 10.1%. Basic earnings per share was RMB156.48 cents, and diluted earnings per share was RMB156.16 cents, representing a year-on-year increase of 74%. Business Review The Group recorded approximately RMB118.06 billion of property contracted sales with a year-onyear increase of 29%, exceeding its full-year sales target of RMB114 billion and rendering Aoyuan among the top 30 PRC developers. During 2016 to 2019, the compound annual growth rate for property contracted sales reached 66%, outpacing the industry average. Following in lockstep with national strategies and policies, the Group completed its three-stage development of “Layout-Focus-Cultivation” on the basis of its niche focus on the Guangdong-Hong Kong-Macao Greater Bay Area. With a strategic layout in South China, core region of Central & Western China, East China and Bohai Rim, the Group has grown from a regional property developer to a developer with nationwide presence. At the same time, Aoyuan carried the Group’s comprehensive management reforms including product research and development, customer management, and marketing systems. Through delicacy management, application of new construction techniques and process, etc., the engineering quality and safety level of projects have continued to improve, and the development cycle has shortened year by year to an industry-leading level. The Group constantly attracts professionals with background in leading property developers and strengthens its professional management team as well as its core competitiveness, so as to ensure that Aoyuan can maintain resilience and outperform in complex environments while achieving sustainable and highquality development. During the year, the Group completed the formulation of a three-year product strategy, established a regional design middle-end platform and built Aoyuan’s A+ Product Universe. Through synergies between the digital design and management platforms and the physical product research and development base – A+ Workshop, the Group achieved continued innovation on the basis of standardisation. Aoyuan A+ Workshop is located in Panyu, Guangzhou with a site area of 5,000 sq.m.. It showcases Aoyuan’s standardised product suites, craftsmanship and procured materials collection. Research & development results of showflats, types of flats and new materials are tested and demonstrated to ensure the finished product quality in an executed manner. In 2019, Aoyuan won various onshore and offshore industry awards. Onshore projects were awarded 13 Kinpan Awards, ranking No. 15 among PRC property developers, Sydney One30 Hyde Park won the “Best High Density Residential Development Project” from UDIA, while Toronto M2M won the “Most Popular Award” from BILD, demonstrating that Aoyuan’s product competitiveness has enhanced comprehensively. On 18 March 2019, the Company’s sub-group, Aoyuan Healthy Life Group Company Limited (3662. HK) (“Aoyuan Healthy”) was spun off and listed on the Main Board of Stock Exchange, further enriching its “one core business with vertical development” business structure and deepening its strategic layout. As of 31 December 2019, Aoyuan Healthy provided property management services at 94 properties in 38 cities across 13 provinces, municipalities and autonomous regions in the PRC, with a total GFA under management of approximately 15.1 million sq.m.. Aoyuan Healthy was contracted to provide commercial operational services to 37 shopping malls with a contracted GFA of approximately 1.8 million sq.m.. Among them, contracts provided for post-opening commercial operation and management services to 28 shopping malls represented a contracted GFA of approximately 1.5 million sq.m. It also provided commercial operational services at 17 shopping malls in operation in 11 cities in the PRC, with approximately 775,000 sq.m. of GFA under management. Total revenue recorded a year-on-year increase of 45.6% to approximately RMB900.8 million. Meanwhile, Aoyuan Healthy has proactively expanded its business from property management services and commercial operational services to health and wellness-related businesses, achieving a breakthrough in businesses scope. In 2019, Aoyuan Healthy was included as a constituent stock of MSCI China Small Cap Index and was named as the “Newly Listed Enterprises of the Year 2019” by Bloomberg Businessweek Chinese Edition. In less than one year since listing, Aoyuan Healthy has rapidly gained wide acceptance and recognition by the capital markets. During the year, the Group’s share price consistently set new record highs, rendering Aoyuan one of the best-performing PRC property stocks. Aoyuan is included as a constituent in MSCI China Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng Stock Connect and Hang Seng Stock Connect Greater Bay Area Composite Index. At the same time, Aoyuan opened the Asia USD bond market and subsequently launched the first fully marketed 3-year PRC property high yield issuance since end-2018. Aoyuan also topped three tables in “Global Fixed Income Executive Team 2019” by Institutional Investor, specifically in “Global Fixed-Income Executive Team” overall weighted score, “Best Investor Relations-High Yield” and “Best Use of Debt-High Yield” in global real estate and construction sectors, with growing reputation in the capital markets. In 2019, Aoyuan received rating upgrades with “positive” rating outlooks from Moody’s and S&P and received a “BB+” global scale long-term issuer credit rating from Lianhe Ratings Global. United Credit Ratings upgraded Aoyuan’s domestic credit rating to “AAA”, the highest credit rating in PRC, demonstrating that the Group’s comprehensive strength is well-recognized across the capital markets. In 2019, in addition to achieving outstanding business results, the Group was widely recognized across sectors for its excellence in corporate governance and brand value, earning prestigious honours including “Fortune China Top 50 Board of Directors” and 279th place on “Fortune China 500” (up 103 places), “ESG Corporate Awards 2019-Gold Award” and “Best Investor Relation Team Award” by the Asset, 272nd place on “China Top 500 Private Enterprises” (up 223 places), 25th place on “China Property Developers with Comprehensive Strength”, 78th place on “Top 100 Most Valuable Chinese Brands”, “China Best Employer”, “Contract-Honouring and Creditworthy Enterprise” for 20 years in a row, and “Top 20 Most Credit-worthy Property Developer” for 18 years in a row. Prospects: Since the outbreak of novel coronavirus disease (“COVID-19”) epidemic at the beginning of 2020, Aoyuan has actively and rapidly shouldered its corporate social responsibility, procuring over 1.1 million medical masks, ventilators, protective coveralls, etc. via global channels in full support of medical workers battling the epidemic at the frontline in Wuhan, Guangzhou, etc. Not only is Aoyuan among the first batch of property companies providing support to Wuhan, but also the first company to directly procure medical supplies and deliver them to frontline hospitals in urgent need. With the epidemic gradually under control, currently, approximately 99% sales centres of Aoyuan has resumed business, approximately 94% construction projects has obtained approval from local government and resumed construction. The projects are progressing as planned and scheduled. Through effective joint prevention and control measures, the COVID-19 epidemic has been basically curbed in China, while it is still spreading outside China. Global economic growth is under pressure while low interest rate and quantitative easing environment will continue. Stability remained as the main policy tone of the real estate market in China. Industry and credit policies are expected to be adjusted in a timely and flexible manner to hedge downside economic risks and promote the long-term and stable development of the real estate market. While maintaining a measured sales scale, Aoyuan will continue to enhance its overall standardised system requirements in product design, operations and safety management to progress towards delicacy enterprise management, enhance brand competitiveness, improve operational efficiency, elevate customer satisfaction and promote sustainable and high-quality development so as to bring stable and long-term returns to the Shareholders and investors.

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