Friday, March 29, 2024
 
Columnist
Martin Hennecke
 
CHINA AOYUAN
HKEx Stock Code : 03883 
 
Corporate Profile
Principally engaged in property development and property investment.

Business Review - For the year ended December 31, 2012

In 2012, the Group leveraged on its solid financial conditions to complete successful investments and acquisitions, including eight parcels of premium commercial and residential lands in Chongqing, Hunan Zhuzhou, Guangdong Foshan and Guangzhou Panyu where market demand remained rigid and impacts by the macroeconomic control policies of the central government were less apparent. This added approximately 1,874,000 sq.m. of gross floor area (¡§GFA¡¨). The newly acquired lands are all located in core district areas with sophisticated municipal facilities and convenient transportation. In particular, the Group acquired four projects in Zhuzhou in 2012 through acquisitions and auctions to mark its grand entry into central China market.

The Group adopts a strategy of maintaining quality land bank at low cost. On 31 December 2012, the Group had land bank with GFA of approximately 9,955,000 sq.m. at average cost of approximately RMB900 per sq.m GFA. The lands were mainly located in Guangdong, Shenyang, Hunan, Chongqing and Guangxi, among which 42.0% was located in Guangdong. The management believes that the existing abundant land bank can meet the needs of the Group's project development in the coming five to seven years.


Business Outlook - For the year ended December 31, 2012

Looking forward, we will continue to closely monitor market developments and stick to our strategy of focusing on land acquisition in areas with existing presence, such as Guangdong and Chongqing, where there is rigid demand and less prospect of being affected by the macroeconomic control policies of the central government. Meanwhile, the Group will also actively cooperate with the government to carry out the works on the ¡§transformation of the three olds¡¨ in a bid to acquiring lands with development potential at a low cost, so as to provide quality land bank for the Group's development projects.


Source: China Aoyuan (03883) Annual Results Announcement
Chairman Guo Zi Wen Issued Capital (shares) 2,779M
Par Value HKD 0.01 Market Capitalisation (HKD) 4,585M
 
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