Financial Performance - In 2018, the Group recorded a profit attributable to shareholders of HK$2,242 million, representing a year-on-year decrease of 9.0% due to a decrease in recognized project sales[22]. - The Group recorded a revenue of HK$23,233,644,000 for the year ended December 31, 2018, representing a decrease of 26.7% compared to HK$31,703,042,000 in 2017[72]. - Profit attributable to shareholders amounted to HK$2,241,590,000, with basic and diluted earnings per share at HK61.22 cents, down from HK67.24 cents in 2017[72]. - The total sales value recognized in 2018 was RMB 18.2 billion, with a total GFA of approximately 1,593,000 square metres sold[145]. - The company recognized total sales of RMB 18,169 million, with apartments contributing 74% of the total sales at RMB 13,424 million[155]. Sales and Contracted Sales - The Group achieved contracted sales of approximately RMB40.8 billion and cash collection of approximately RMB41.2 billion, with a collection rate increase of 2 percentage points year-on-year[23]. - Poly Property Group achieved approximately RMB40.8 billion in contracted sales, reaching 102% of its annual sales target of RMB40.0 billion[79]. - The average contracted sales price reached RMB 18,193 per square meter, representing a year-on-year increase of 20%, with a 32% increase in the average sales price in mainland China[80]. - The total area sold in 2018 was approximately 1.1 million square meters, with the Southwestern region having the highest sales area at 870,000 square meters[84]. - The average selling price of contracted sales was RMB18,193 per square meter, representing a 20% increase compared to the previous year[79]. Project Development and Land Acquisition - The Group added 14 new property projects during the year, including acquisitions in Jinan and Mudanjiang, effectively controlling land prices[27]. - The average cost of new projects acquired by the Group in the mainland market was approximately RMB 4,600 per square meter, enhancing its advantage in low-cost land reserves[27]. - The company acquired 14 new development projects in cities including Jinan, Ningbo, and Shanghai, with a total planned gross floor area (GFA) of approximately 3.427 million square meters[87]. - The Group holds over 70% of its land reserves in first and second-tier cities, positioning itself well for future market opportunities[33]. - The company plans to continue expanding its land reserves while maintaining reasonable land costs[87]. Financial Management and Strategy - The Group actively developed diversified low-cost financing channels, including USD-denominated guaranteed notes and private issuance of corporate bonds specialized in rental housing[23]. - The issuance of USD-denominated guaranteed notes and private corporate bonds was at the lowest coupon rates among similar bonds issued by other property developers during the same period, reflecting market confidence in the Group's performance[23]. - The cash flow management became a main focus for the Group in response to control policies and a more severe financing environment[22]. - The Group aims to maintain a sound financial position by focusing on cash flow management and optimizing its liability structure to reduce gearing ratios and funding costs[38]. - The Group plans to explore investment opportunities in urban redevelopment, industrial real estate, and cooperation with state-owned enterprises[172]. Market Presence and Regional Focus - The Group operates in 24 major cities within and outside China, including Shanghai, Hong Kong, and London, focusing on residential and commercial property development[15]. - The Group's projects are located in economically active areas in China, including the Yangtze River Delta and Pearl River Delta[15]. - The Yangtze River Delta region accounted for 31% of the total contracted sales amount, while the Southwestern region contributed 24%[84]. - As of December 31, 2018, Poly Property Group had a total of 57 residential and complex real estate development projects across 24 cities, with approximately 21% of the total GFA located in the Yangtze River Delta and Pearl River Delta Regions[126]. - The company is focusing on developing high-rise residential complexes primarily targeting first-time and upgrading homebuyers in key development areas[124]. Investment Properties and Rental Income - The investment properties held by the group had a total gross floor area of approximately 807,000 square meters and an asset value of approximately HK$12.6 billion[158]. - The average occupancy rate for Beijing Poly Plaza was 100% in 2018, maintaining the same level as in 2017[162]. - The rental rates for the group’s office buildings and shopping malls increased compared to the previous year, indicating a positive trend in rental income[158]. - The company plans to continue expanding its investment properties in first-tier and second-tier cities to enhance its portfolio and revenue streams[158]. - In 2018, the Group's property management companies recorded total revenue of RMB 809 million, representing a 15% increase compared to the previous year[167]. Future Outlook and Strategic Goals - The Group's strategic focus for 2019 includes stabilizing land prices and housing prices while actively managing inventory to enhance liquidity[34]. - The Group expects the main tone of control policies in the real estate market in 2019 to focus on stabilizing land prices, housing prices, and market expectations[168]. - The Group will continue to strengthen cash flow management and improve development efficiency to achieve steady growth in operating results[173]. - In 2019, the Group aims to enhance its core competitiveness and risk management while optimizing its principal business of real estate development[174]. - The Group will diversify its financing channels and seek low-cost funds by leveraging its status as a state-owned enterprise and overseas listed company[173].