Financial Performance - The company achieved revenue of approximately RMB 10,071.4 million, representing a 97.9% increase compared to RMB 5,089.7 million in 2016[20]. - Annual profit reached RMB 1,185.5 million, a slight increase of 1.0% from RMB 1,174.2 million in the previous year[20]. - Profit attributable to equity holders of the company decreased by 12.4% to RMB 1,024.2 million from RMB 1,169.4 million in 2016[20]. - Basic and diluted earnings per share were RMB 16.8, down 12.5% from RMB 19.2 in the previous year[20]. - The group's consolidated revenue for 2017 was approximately RMB 10.0714 billion, a 97.9% increase from RMB 5.0897 billion in 2016[23]. - The group's gross profit for 2017 was approximately RMB 2.4182 billion, representing a 110.7% increase from RMB 1.1475 billion in 2016[25]. - The group's net profit attributable to equity holders for 2017 was approximately RMB 1.0242 billion, a decrease of about 12.4% from RMB 1.1694 billion in 2016[29]. - The group's total sales cost for 2017 was approximately RMB 7.6532 billion, a 94.1% increase from RMB 3.9422 billion in 2016[29]. Sales and Construction Activity - Contracted sales amounted to approximately RMB 12.5 billion, with a total construction area of 16 million square meters[11]. - The company delivered a total construction area of approximately 1,029,695 square meters during the year[11]. - The total area delivered in 2017 was approximately 1,029,065 square meters, a 52.6% increase from 674,346 square meters in 2016[30]. - The average selling price per square meter for delivered properties in 2017 was RMB 9,308.2, a 34.4% increase from RMB 6,927.7 in 2016[30]. - The increase in revenue was primarily driven by the delivery of newly completed properties in Nanjing, contributing to the overall growth in sales[30]. Market Strategy and Outlook - The company continues to strengthen its market position by focusing on a diversified and balanced property portfolio[14]. - The board remains optimistic about the property development business in China, emphasizing a low-cost land strategy and opportunities for land acquisition in high-growth cities[14]. - The management is optimistic about future growth prospects, supported by a robust pipeline of projects and land reserves[49]. - The company is focusing on expanding its market presence through strategic project developments in high-demand regions[49]. Land and Project Development - The land reserve increased by 17.6% to approximately 21.4 million square meters, including 99 projects, up from 77 projects in 2016[49]. - The total presold but undelivered area amounted to 2,400,122 square meters, an increase from 1,794,283 square meters in 2016[40]. - The total land reserve as of December 31, 2017, includes completed properties with a total area of 3,027,566 square meters and a total saleable area of 2,231,004 square meters[53]. - The company has a diverse portfolio with 100% equity in several key projects, ensuring strong control over its developments[40]. - The total saleable area of the completed properties in the group is 2,044,827 square meters, indicating a strong market position[57]. Project Completion and Future Deliveries - The company has ongoing projects with a total construction area of 417,064 square meters expected to be completed by December 2020[57]. - The company anticipates the completion of several projects, including the Nanjing Dream Home by July 2018, with a total construction area of approximately 154,394 square meters and 111,894 square meters pre-sold but not yet delivered as of December 31, 2017[153]. - The total construction area for the projects mentioned is approximately 2,200,000 square meters, with various completion percentages ranging from 30% to 100%[61]. - The company has completed properties with a total building area of 1,212,517 square meters and a saleable area of 2,916,080 square meters[85]. Occupancy and Market Presence - The company has a 100% occupancy rate for several completed projects, including the Xiamen Mingfa Commercial Plaza with an area of 112,058 square meters[96]. - The company maintains a strong market presence with properties across multiple provinces, ensuring a broad geographic footprint[85]. - The company is developing new commercial complexes in Tianjin and Changsha, both with 100% occupancy upon completion[109][110].
明发集团(00846) - 2019 - 年度财报