CIFI's contracted sales grew by 86% year on year to RMB 25.60 billion in August 2020
- Written by Media Outreach
For first eight months, contracted sales grew by 10% to RMB128.32 billion; cash collection exceeded RMB 120.00 billion
HONG KONG, CHINA - Media OutReach - 3 September 2020 - In August 2020, the Group achieved contracted sales of RMB25.60 billion, representing a year-on-year increase of approximately 86% (compared to August 2019). GFA sold under contracts amounted to approximately 1,816,500 sq.m. Contracted ASP was approximately RMB 14,100 per sq.m. in August 2020.
From January to August 2020, the Group achieved contracted sales of RMB128.32 billion, representing a year-on-year increase of approximately 10%. GFA sold under contracts amounted to approximately 8,244,300 sq.m., Contracted ASP was approximately RMB 15,600 per sq.m. from January to August 2020.
Land Acquisition
In August 2020, the Group completed the following land acquisitions:
|
City |
Project |
Group's Equity Interest |
Intended Primary Use |
Site Area (sq.m.) |
Total Planned GFA (Excluding Carpark) (sq.m.) |
Group's Attributable Consideration (RMB) |
Average Land Cost (Excluding Carpark) (RMB/ sq.m.) |
|
Changsha |
Yuhua District, No. 2020-062 Project |
100% |
Residential/ Commercial |
113,700 |
341,100 |
1,125,500,000 |
3,300 |
|
Changde |
Wuling District, Chang Guo Chu, No. 2020-20 Project |
100% |
Residential/ Commercial |
184,800 |
542,200 |
1,165,730,000 |
2,150 |
|
Chengdu |
Shiqiao Town, Jianyang City, 47 Mu Project |
60% |
Residential |
31,200 |
78,000 |
139,140,000 |
2,973 |
|
Shanghai |
Gumei North Community, Qibao Town, Minhang District, 27-01 Project Unit S110501 |
51% |
Residential |
37,500 |
82,500 |
2,306,870,000 |
54,814 |
|
Beijing |
Renhe, Shunyi District, 6057 Project |
40% |
Residential/ Commercial |
122,200 |
206,100 |
1,247,200,000 |
15,130 |
Company News
On 14 August, the latest quarterly review of the Hang Seng Index Series was announced. CIFI will be included in the Hang Seng Corporate Sustainability Index Series as a constituent with effect from 7 September 2020. This demonstrates the capital market's recognition of the Group's outstanding performance in sustainability. The Group's inclusion in the index would also help to broaden its investor base, increase its stock liquidity, and enhance its investment value. Moreover, the Group has taken its environmental, social, and corporate governance ("ESG") practices to the next level.
On 15 August, CIFI launched CIFI-7, the 7th generation product series. HUMAN Smart Healthy Living 2.0 Operating System, which is one of the Group's three major products, was jointly developed by Alibaba's AIoT and the Group. It is the first time of achieving the integration of built-in appliances provided by developers and the intelligent appliances subsequently installed by the house owners.
15 August 2020 marks CIFI's 20th anniversary. In the past 20 years, CIFI has been serving its customers with dedication and forging ahead. In the next 20 years, CIFI will continue to work and grow together with those who give it their support. CIFI will press on with its mission to "Build a better life", try to excel itself and aim for greater achievements.
On 18 August, CIFI acquired property development project in the start-up area in Chengdong New District, Changde. It plans to build an iconic commercial complex that will have total GFA of 2 million sq.m. and include a shopping mall. The commercial complex will be another city center of Changde city. The first phase of the project will have GFA of 540,000 sq.m. according to the plot ratio and the land cost per sq.m. of GFA is RMB2,150. ASP to land cost is over 4x. The project represents another significant achievement under CIFI's strategy of acquiring land through diverse channels.
On 28 August, the award presentation ceremony of "2020 Best Managed Companies" was jointly organized in Hangzhou by Deloitte China, Bank of Singapore, Hong Kong University of Science and Technology Business School, and the Chinese edition of Harvard Business Review. CIFI won the title of one of the "2020 Best Managed Companies" as it stood out from the shortlisted leading companies in various industries. CIFI was also one of the only two property companies that won the accolades.
