Golden Wheel Tiandi Holdings Co. Ltd. · HKEX:1232
Golden Wheel Tiandi — H1 2019 Earnings Presentation
28 slides from Golden Wheel Tiandi's earnings presentation, September 2019
Slide 1: Golden Wheel Tiandi Holdings Company Ltd. Investor Presentation
金轮天地控股有限公司 Golden Wheel Tiandi Holdings Company Ltd. (Stock Code: 1232.HK) Investor Presentation September 2019 1
Slide 2: Disclaimer
Disclaimer IMPORTANT: The following forms part of, and should be read in conjunction with, the other materials in this presentation. This document has been prepared by Golden Wheel Tiandi Holdings Company Ltd. (the “Company”) for information purposes only. This document does not constitute or form p
Slide 3: Agenda
Agenda 1 Result Highlights 2 Business Review 3 Future Growth and Strategies 4 Other information 3
Slide 4: Result highlights
Result highlights 6/2019 6/2018 Change Contracted sales 1,867 1,273 +47% Revenue (RMB million) - Property sale 422 724 -42% - Property leasing 109 100 +9% - Hotel operation 30 24 +26% Total Revenue 561 848 -34% Gross profit margin (%) - Property sale 38% 47% -9ppt - Property leasing 91% 75% +16ppt -
Slide 5: Business overview
Business overview Golden Wheel Tiandi Group HKSE stock code 1232 Property developments Leasing Hotel Investments Business and Shares of Total 24 development Management commercial hotels with Xiamen projects 10 completed projects for Own properties contracts with Metro 3/4 stars International
Slide 6: Future growth and strategies
Future growth and strategies Projects that have direct access to metro stations/transportation hubs Cities that we are familiar ie Jiangsu and Hunan Province in PRC and Hong Kong Focus Joint development with reputable developers ie Vanke, Longfor, Powelong, Future Holdings and Redsun A balan
Slide 7: 2019 interim result highlights
2019 interim result highlights Contracted sales 6000 Robust Contracted 4000 Contracted Sales: RMB1,867 million (2018: RMB1,273 million) Sales Unrecognized Contracted Sales: RMB708 million 2000 0 2015 2016 2017 2018 2019 (E) RMB'm Property Sales: RMB422 million, down 42% (2018: RMB724 million)
Slide 8: Revenue
Revenue Property sales Rental and hotel income (RMB million) (RMB million ) 2,500 300 2,110 258 2,000 250 194 Expected 200 full year 1,500 Expected 146 1,188.0 140 full year 150 1,000 765 100 422 500 50 0 0 2016 2017 2018 6/2019 2016 2017 2018 6/2019 6/2019 property sales by type 6/2019 property sal
Slide 9: Gross profit margin
Gross profit margin Property sales Rental income 91% 72% 74% 74% 50% 38% 36% 32% 2016 2017 2018 6/2019 2016 2017 2018 6/2019 GP by city (2018) GP by city (6/2019) 60% 83.00% 55.00% 74.00% 45.00% 48.00% 31.00% 35.00% 35.00% 19.00% Nanjing Wuxi Zhuzhou Yangzhou Changsha Nanjing Wuxi Zhuzhou Yangzhou C
Slide 10: Debt maturity profile as at 30 June 2019
Debt maturity profile as at 30 June 2019 (RMB million) Over 2 years or revolving 1-2 years RMB 6,688 m 1 year Restricted cash Structured deposits Contracted sales receivable 1429 Cash RMB 2,166 m RMB700m represents sales proceeds, restriction 973 will be released 3795 when the projects are completed
Slide 11: Properties Development
Properties Development 11
Slide 12: Land bank – as at 30 June 2019
Land bank – as at 30 June 2019 Total GFA available for sale Investment Year of Site Area Total GFA Saleable Own used GFA (sqm.) property Project City completi GFA on Residentia Retail/Offi (sqm.) (sqm.) (sqm.) Carpark (sqm.) (sqm.) l ce Completed Golden Wheel International Plaza 金轮国际广场 Nanjing 1/200
Slide 13: Snapshot of land bank (for sale)
Snapshot of land bank (for sale) City Project Saleable Average Land % of saleable BY LOCATION GFA cost GFA (sq.m.) (RMB/sq.m.) Changzhou Hong Kong The New Place 5,775 136,000 - 13% Nanjing Nanjing Binary Star Plaza 8,000 3,500 1% Yangzhou 35% 13% Nanjing Romantic Tower 38,244 18,100 2% Nanjing Cuiyo
Slide 14: Property development - Estimated contracted sales
Property development - Estimated contracted sales Currency：RMB billion 6.0 Estimated 5.0 Wholly-owned Under JV & 4.0 Associates Actual 3.0 2.0 1.0 0.0 2018 2019 2020 2021 14
Slide 15: Current major development projects
Current major development projects Nanjing Golden Wheel Wuxi Lakeside Orchid Romantic Tower 南京金轮 Garden 无锡湖晓兰庭 峯华名座 Land area: 70,990 sqm Land area: 7,593 sqm Total GFA: 123,000 sqm Total GFA: 42,720 sqm Total saleable value: RMB1.2 Total saleable value: RMB1.2 billion billion Year of
Slide 16: Current major development projects
Current major development projects Golden Wheel Starry Nanjing GW Shuiying Hua Ting Plaza 金轮星空间 南京金轮水映华庭 Location: Wuxi Land area: 32,927 sqm Total Saleable market Total Saleable GFA: 76,217 sqm value: RMB800 million Total saleable value: RMB 550 millon Total Saleable GFA: Year of pre-
Slide 17: Current major development projects
Current major development projects Nanjing South Station 南京南站新项目 Land area: 70,070 sqm Total Saleable GFA: 204,646 sqm RMB3 billion Total saleable value: Land cost: RMB950 million, RMB4,600 per sqm Nearby area current market price RMB20,000 per sqm 17
Slide 18: Joint ventures and associates
Joint ventures and associates Powerlong Golden Wheel Plaza Nanjing Shiguang Shanhu 南京时光 宝龙城市广场 山湖 % of holding: 49% % of holding: 25% Partner: Powelong Partners:Redsun, Mingfa, Future Holdings Location: Yangzhou Location: Nanjing Total GFA: 228,400 sq.m Total GFA: 31,781 sqm Total
Slide 19: Properties Leasing
Properties Leasing 19
Slide 20: Our investment properties
Our investment properties Traits of Investment Properties Business Provides recurring rental income and ensure our long-term financial strength Completed investment properties with a total GFA of approximately 209,303 sq.m., as of 30 June, 2019 Increasing fair value due to the addition of new invest
Slide 21: Snapshot of land bank (for investment properties)
Snapshot of land bank (for investment properties) BY LOCATION City Type GFA Occupancy 6/2019 Yangzhou 24% (sq.m.) rate income (RMB million) Nanjing 44% Nanjing Shopping malls 51,553 95% 30 Changsha Nanjing Retail shops 14,173 95% 10 4% Wuxi Shopping malls 20,716 100% 12 Zhuzhou Zhuzhou Shopping mall
Slide 22: Rental income
Rental income Currency：RMB million 2015-2019 Rental Income 160 147 140 128 120 111 105 100 80 76 60 57 39 40 35 33 25 20 0 2015 2016 2017 2018 06/2019 Investment properties Sub-lease rented properties 22
Slide 23: Metro leasing business
Metro leasing business Owners Tenants 10-15 years 1-3 years tenancy tenancy Nanjing Golden Wheel 6 months Commercial Management 1-2 months rent free period rent free period Co., Ltd NEEQ stock co 838376 6-10% increase in 10-12% increase every 2 years Overall 90% occupancy rate annualized (fixed te
Slide 24: Our tenants
Our tenants A - 2 Gem istons A Be aH e's cna : _— RL _ Beg @Se5 . . ee iM = me. [el Flour Noodles i > Kh = ia ae — DAYUHOT POT — 24
Slide 25: Hotel Operations
Hotel Operations 25
Slide 26: Hotel operations
Hotel operations Silka West Kowloon Hotel Nanjing Atour Hotel （亚朵酒店） Location: Hong Kong Location: Nanjing Total GFA: 3,450 sq.m Total GFA: 7,100 sq.m Rooms: 141 Rooms: 140 Year of acquisition: May 2017 Year of opening: 2017 2nd-half Annual revenue: RMB25 million Annual revenue: RMB30
Slide 27: Hotel operations
Hotel operations Forecasted Hotel Operating Income Currency：RMB million 160 140 120 GW Atour Hotel 100 Hilton Hotel Courtyard Marriott Hotel 80 NJ Atour Hotel Silka West Kowloon Hotel 60 40 20 0 2018 2019 2020 2021 2022 27
Slide 28: Financial ratios
Financial ratios 2015 2016 2017 2018 2019 (half year) Debt to Asset Ratio 56.6% 60.9% 60.2% 66.9% 69.5% (Total debts/total assets) Net Gearing Ratio 42.4% 26.2% 56.6% 105.4% 107.0% (Net debts/Equity) Debt to Capital Ratio 45.1% 41.8% 45.5% 55.9% 58.3% (Total debts/Equity + total debts) Gross profit
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