Financial Performance - The company's total revenue for 2018 reached RMB 11.6419 billion, an increase of 15.6% compared to RMB 10.0714 billion in 2017[20] - The annual profit for 2018 was RMB 1.2891 billion, reflecting an 8.7% increase from RMB 1.1855 billion in 2017[20] - Profit attributable to equity holders of the company decreased by 16.5% to RMB 0.8551 billion from RMB 1.0242 billion in 2017[20] - Basic and diluted earnings per share for 2018 were RMB 14.0 cents, down 16.7% from RMB 16.8 cents in 2017[20] - The group's revenue for 2018 was approximately RMB 11.642 billion, an increase of 15.6% from RMB 10.071 billion in 2017[25] - Gross profit for 2018 was approximately RMB 3.322 billion, a 37.4% increase from RMB 2.418 billion in 2017[25] - The group's annual profit increased by 8.7% to approximately RMB 1.289 billion in 2018 from RMB 1.185 billion in 2017[29] - Profit attributable to equity holders decreased by approximately RMB 169 million or 16.5% to RMB 855 million in 2018[29] Sales and Market Activity - The company reported contract sales of RMB 16.3 billion for the year, with RMB 5.9 billion coming from Nanjing[14] - Total sales area delivered in 2018 was approximately 1,248,065 square meters, a 21.3% increase from 1,029,065 square meters in 2017[30] - Contract sales for the year amounted to approximately RMB 16.359 billion, with a total construction area of 1,786,192 square meters, compared to RMB 12.510 billion and 1,606,730 square meters in 2017[35] - The total sold residential floor area in China for 2018 was 1.7 billion square meters, a 1.3% increase from 2017[11] - The real estate market in China saw a total construction area increase of 1.3% to 1.72 billion square meters in 2018, with transaction value rising by 12.2% to RMB 15 trillion[24] Land and Property Development - The company holds land reserves of 1.8 million square meters in Nanjing and 3.6 million square meters in Wujin, focusing on diversified property development[11] - The land bank increased by 4.7% to approximately 22.4 million square meters as of December 31, 2018, compared to 21.4 million square meters in 2017, comprising 116 projects, up from 99 projects in the previous year[44] - The land bank distribution shows that Anhui province accounts for 41.9% of the total land reserves, indicating a strong focus on this region for future developments[46] - The total area of properties under development is 13,979,844 square meters, with an estimated total building area of 24,121,070 square meters[69] - The group has signed land use rights contracts for future development projects, indicating ongoing expansion efforts[69] Project Completion and Construction Progress - The company has completed various properties with a total land area of 2,000,000 square meters and a total leasable and saleable area of approximately 1,000,000 square meters[49] - The total construction area of 3,662,637 square meters completed, with 2,912,512 square meters already leased or sold[55] - 90% of the construction work for Huai'an Mingfa Commercial Plaza (Phase A) has been completed, with a total area of 266,335 square meters[55] - The company has achieved 100% completion for several commercial projects, indicating strong operational efficiency[55] - The overall construction completion rate across all projects varies, with some projects reaching up to 100% completion[62] Future Development and Strategy - The company is actively pursuing new strategies for market expansion and product development, as evidenced by the increase in both completed and ongoing projects[44] - The company has a strategic plan to enhance its market position through new developments and potential acquisitions in the coming years[54] - Future projects include significant expansions in Jiangsu and Fujian provinces, reflecting the company's growth strategy[55] - The company aims to leverage its completed projects to drive rental income and sales revenue in the upcoming fiscal periods[54] - The group plans to complete several projects by December 2022, including the Zhangzhou Longhai Mingfa Plaza, which has a total building area of 315,564 square meters[69]
明发集团(00846) - 2019 - 年度财报