Core Viewpoint - China Railway Construction Real Estate Group (CRCRE) successfully acquired a residential land parcel in Songjiang New City for a total price of 2.471 billion yuan, with a premium rate of 20.44% during the fourth batch of land auctions in Shanghai [1] Group 1: Land Acquisition Details - The land parcel, designated as SJC10006 unit C03A-04, has a transfer area of 42,480.63 square meters and a planned construction area of 97,705.45 square meters, with a floor area ratio of 2.3 [2] - The starting price for the land was 2.052 billion yuan, with a starting floor price of 21,000 yuan per square meter, and a stop price of 2.6673 billion yuan, corresponding to a premium rate of 30% [2] - The final transaction price was 25,288 yuan per square meter, which is approximately 14% lower than the floor price of a nearby land parcel sold three years ago [2] Group 2: Financial Performance - In 2024, CRCRE reported total revenue of 46.646 billion yuan, a decrease of 26.3% year-on-year, and a net profit of 1.242 billion yuan, down 7.7% year-on-year [5] - The company's net profit attributable to shareholders was approximately 539,590 yuan, reflecting a significant decline of 95.42% year-on-year [5] - As of the end of 2024, CRCRE's total assets amounted to 223.408 billion yuan, a decrease of 4.42% year-on-year, while total liabilities were 173.924 billion yuan, down 6.12% year-on-year [5] Group 3: Project Performance - CRCRE's projects in Shanghai include several in suburban areas, with the Xipai Haishang project being its first in the inner ring of Shanghai [4] - The Xipai Haishang project performed well, with a subscription rate of 248% during a recent sales event [3] - Conversely, the Donglai No. 1 project has seen no sales since its launch last year, indicating challenges in the current market [3]
去年归母净利润约540万元，中铁建地产密集补仓，业内称其“新增地块利润有望超10%”