Yuzhou Group Holdings Co., Ltd. · HKEX:1628
Yuzhou — Yuzhou Properties Company — FY2015 Earnings Presentation
36 slides from Yuzhou's earnings presentation, Mar 30, 2016
Slide 1: 2015 Annual Result Announcement
2015 Annual Result Announcement 30 March 2016
Slide 2: About Yuzhou Properties (01628.HK)
ABOUT YUZHOU PROPERTIES (01628. HK) A leading property developer in West Strait Economic Zone with footprints in Xiamen, Fuzhou and Quanzhou, ranking no.1 in Xiamen for 10 consecutive year KEY FOCUS Successful expansion into Hong Kong, Shanghai, Nanjing, Hefei, Tianjin, Longyan, Bengbu The con
Slide 3: About Presenters
ABOUT PRESENTERS Founder, Mr. LAM Lung On Chairman and Executive Director Mr. CAI Minghui Excecutive President Mr. Hui Chun Yip Chief Financial Officer and Company Secretary 3
Slide 4: Table of Contents
TABLE OF CONTENTS I. FINANCIAL HIGHLIGHTS II. BUSINESS REVIEW III. FUTURE PERSPECTIVES IV. APPENDIX 4
Slide 5: Financial Highlights
EY Fa HH 1 EAR PRS] Ae YUZHOU PROPERTIES COMPANY LIMITED Stock Code Ritts : 01628.HK FINANCIAL HIGHLIGHTS
Slide 6: Highlights of 2015 Annual Results
HIGHLIGHTS OF 2015 ANNUAL RESULTS FINANCIAL HIGHLIGHTS FOR THE 12 MONTHS ENDED 31 DECEMBER 2015 Compared with 2014 Contracted Sales: RMB 14,018 million (+RMB2,017 million or +17%) Recognized revenue: RMB10,376 million (+ RMB2,539 million or +32%) Core Profit to owners of parent : RMB1,620 mill
Slide 7: FY2015 Key Profit & Loss Items
FY2015 KEY PROFIT&LOSS ITEMS Revenue* Gross Profit RMB million RMB million Profit attributable to shareholder Core Profit RMB million RMB million 1,620 * After 5.55% Business Taxes 7
Slide 8: FY2015 Revenue Breakdown
FY2015 REVENUE BREAKDOWN 100%=RMB 10,376 million 100%=RMB 7,837 million (RMB’000) 2015 2014 Change Sales of 10,157,504 7,680,661 +32% properties Rental income 79,651 51,544 +55% Property management fee 122,134 88,245 +38% income Hotel operation 16,212 16,183 +0.2% income Total 10,375,501 7,836,633 +
Slide 9: Analysis on FY2015 Recognized Property Sales
ANALYSIS ON FY2015 RECOGNIZED PROPERTY SALES Recognized Property Sales* Recognized GFA & ASP RMB million GFA (sq.m.) ASP (RMB/sq.m.) Recognized Sales by City Recognized GFA by City % % 7% 22% Xiamen Fuzhou Quanzhou 8% Longyan Shanghai 47% Hefei 14% Tianjin 1% 1% * After 5.55% Business Taxes 9
Slide 10: FY2015 Key Balance Sheet Items
FY2015 KEY BALANCE SHEET ITEMS Cash Position Total Debt RMB million RMB million Total Asset Total Equity RMB million RMB million 10
Slide 11: FY2015 Stable Financial Position
FY2015 STABLE FINANCIAL POSITION Net Gearing Ratio Debt Profile by Maturity % % Debt Profile by Currency Debt Profile by Type % % Total Debt = RMB20,083 million The weighted average funding cost was 7.00%. Unused credit facilities of RMB4,848.87 million. 11
Slide 12: Business Review
GD svimennamaa == Aa YUZHOU PROPERTIES COMPANY LIMITED Stock Code Ritts : 01628.HK BUSINESS REVIEW
Slide 13: Snapshot of Land Bank
Saleable Average Land % of SNAPSHOT OF LAND BANK City GFA (‘000 sq.m.) No. of projects Cost （RMB/sq.m.） saleable GFA 8.56 million sq.m. as at December 2015 Bohai Rim Tianjin 351 2 1,061 4 Region Shanghai 861 8 5,771 10 Nanjing 456 5 9,286 5 Yangtze River Delta Hefei 2,184 7 2,431 26 Bengbu 668 1 660
Slide 14: Market Leadership in Xiamen & Hefei
MARKET LEADERSHIP IN XIAMEN & HEFEI 2015 Xiamen Top 10 Property Sales 2015 Hefei Top 10 Property Sales (As at Dec 2015) By GFA sold (As at Dec 2015) By GFA sold 0000’ sq.m. 0000’ sq.m. Selected projects in Xiamen Selected projects in Hefei 1 Yuzhou World Trade Center 2 Yuzhou Plaza 3 Yuzhou Shorelin
Slide 15: FY2015 Contracted Sales
FY2015 CONTRACTED SALES # Project Interest in Contracted Project Sales As of Total Contracted GFA Contracted ASP City % (RMB mn) (%) (sq.m.) (RMB/sq.m.) Contracted Sales 1 Yuzhou Golf Xiamen 100% 9 0% 511 17,370 2 Yuzhou Shoreline Xiamen 100% 141 1% 4,298 32,716 (FY2013 vs. FY2014 vs. FY2015) 3 Yuzh
Slide 16: Monthly Contracted Sales in 2014 vs. 2015
MONTHLY CONTRACTED SALES IN 2014 vs. 2015 Monthly Contracted Sales ( Jan 2014 – Dec 2015) 16
Slide 17: FY2015 Sell-through Rate Reached 65%
FY2015 SELL-THROUGH RATE REACHED 65% The Average Sell-through Rate is 65% % Xiam Quan Shang City Xiamen Xiamen Xiamen Xiamen Xiamen en Fuzhou Fuzhou zhou Longyan Shanghai hai Hefei Hefei Hefei Hefei Hefei Bengbu Tianjin Total GFA Launche 100,116 167,461 13,684 32,542 55,000 155,558 84,499 140,663 16
Slide 18: Land Replenishment in 2015
LAND REPLENISHMENT IN 2015 Total Average Estimated Date of Equity Site Area Saleable Land Cost Land Cost Lanuch ASP City Project Type Methodology Acquisition Interest (sq.m.) GFA (sq.m.) (RMB (RMB/sq.m.) (RMB/sq.m.) mn) Jan 2015 Xiamen Resi/Com Bidding and Auction 51% 70,109 305,160 2,740 8,979 22,0
Slide 19: Land Replenishment YTD2016
LAND REPLENISHMENT YTD2016 Total Land Average Land Estimated Date of Equity Site Area Saleable GFA City Project Type Methodology Cost Cost Launch ASP Acquisition Interest (sq.m.) (sq.m.) (RMB mn) (RMB/sq.m.) (RMB/sq.m.) Jan 2016 Shanghai Resi Bidding and Auction 40% 41,262 90,776 2,630 28,972 45,000
Slide 20: FY2015 Cash Flow Position
FY2015 CASH FLOW POSITION (Unaudited) RMB Bn FY2015 FY2016 RMB Bn (A) (E) Cash on Cash on Hand (at the beginning) 9.78 11.95 Hand 9.78 Cash Proceeds from Contracted Sales 13.07 15.00 Rental, Management Share Rental, Management Fee & Other Placing Income 0.32 0.41 Fee & Other Income 0.32 0.62 Share P
Slide 21: Future Perspectives
EY Fa HH 1 EAR PRS] Ae YUZHOU PROPERTIES COMPANY LIMITED Stock Code Ritts : 01628.HK FUTURE PERSPECTIVES — 21
Slide 22: Market Outlook
MARKET OUTLOOK Supportive policies of demand and supply side: cancelation of HPR, lowering down payment ratio, taxes reduction, interest rate and RRR cut which boost housing 2015 transaction volumn and price, positive for the sector ‘s operating policy environment Unleash housing demand caused m
Slide 23: Our Strategies to Weather the Market
OUR STRATEGIES TO WEATHER THE MARKET Experienced Management Product and Pricing Flexibility Highly experienced management team with strong execution Diversify product mix to fulfill the user-oriented capabilities and deep industry insights demand, better catered to current market Flexible mark
Slide 24: FY2016: Detailed Launch Table
FY2016: DETAILED LAUNCH TABLE Product Type Planned Sales GFA As of Total # Project City Launch Type for FY2016 (sq.m.) (%) 1 Yuzhou Central Coast Xiamen Existing Apartment/Office/Car Parks 27,858 1% 2 Yuzhou Riverside City Town Xiamen Existing Apartment/Villa/ Retail/Car Parks 209,162 8% 3 Yuzhou Cl
Slide 25: FY2016: Launch Breakdown
FY2016: LAUNCH BREAKDOWN By City By Launch Type % 0.3 Xiamen % 4 Fuzhou 6 25 Quanzhou 9 Longyan 3 Hefei Bengbu 9 Shanghai Nanjing 33 6 6 Tianjin Zhangzhou By Project Type By Region % % 100% = 2,608,126 sq.m. 25
Slide 26: Major Contributing Projects in 2016
MAJOR CONTRIBUTING PROJECTS IN 2016 Xiamen Yuzhou Lucca Town Shanghai Yuzhou Bustling Center (廈門禹洲‧盧卡小鎮) (上海禹洲‧老城里) At the new transportation 2km away from Jiading old hub and economic area of urban district and adjacent Xiamen Xiangán region to the North Jiading Station Villa design adopt Ita
Slide 27: Land Banking Strategy
LAND BANKING STRATEGY Focus on the West Strait Economic Zone Maintain No.1 in Xiamen market share to enjoy Free Trade Zone opportunity and economic growth in Fujian Province Penetrate further into Yangtze River Delta Expanding into Tier 1 and 2 cities with great potential, Hefei, Shanghai and Nanjin
Slide 28: Appendix
GD svimennamaa == Aa YUZHOU PROPERTIES COMPANY LIMITED Stock Code Ritts : 01628.HK APPENDIX
Slide 29: Xiamen Property Market Overview
XIAMEN PROPERTY MARKET OVERVIEW Residential Land Supply and Property Transactions in Xiamen '000 sq.m. RMB/sq.m. 8,000 25,000 20,535 7,000 6,743 19,231 6,055 20,000 6,000 15,701 13,973 5,000 12,863 15,000 3,894 11,600 13,830 4,000 4,109 4,490 9,891 11,532 2,723 3,174 9,708 4,883 4,543 10,000 3,000 1
Slide 30: Fuzhou Property Market Overview
FUZHOU PROPERTY MARKET OVERVIEW Residential Land Supply and Property Transactions in Fuzhou '000 sq.m. RMB/sq.m. 4,500 16,372 16,552 18,000 4,261 14,910 4,000 14,231 14,188 16,000 3,623 3,500 3,159 14,000 12,741 3,000 2,905 2,764 12,000 2,577 11,942 2,524 2,410 3,023 2,500 10,000 7,590 8,164 2,000 7
Slide 31: Shanghai Property Market Overview
SHANGHAI PROPERTY MARKET OVERVIEW Residential Land Supply and Property Transactions in Shanghai '000 sq.m. RMB/sq.m. 40,000 35,000 34,809 32,001 35,000 27,212 30,000 24,177 30,000 21,728 22,278 22,502 25,000 25,000 23,421 20,128 16,039 20,000 20,000 17,941 17,776 13,971 16,151 16,914 14,565 14,031 1
Slide 32: Hefei Property Market Overview
HEFEI PROPERTY MARKET OVERVIEW Residential Land Supply and Property Transactions in Hefei ‘000sq.m. RMB/sq.m. 25,000 10,000 21,566 8,500 20,000 17,387 18,847 8,000 6,259 6,986 7,190 6,007 13,884 15,000 4,635 6,351 6,000 10,765 11,624 10,256 9,531 4,100 10,000 2,799 2,874 9,619 10,684 8,900 9,403 8,4
Slide 33: Nanjing Property Market Overview
NANJING PROPERTY MARKET OVERVIEW Residential Land Supply and Property Transactions in Nanjing ‘000sq.m. RMB/sq.m. 20,000 15,140 16,000 12,305 13,521 14,000 15,000 12,109 12,075 10,688 12,791 10,929 15,570 12,787 12,000 11,391 13,116 10,000 10,232 11,651 10,775 9,417 9,912 9,841 10,000 7,927 7,348 7,
Slide 34: FY2015 Key Financials
FY2015 KEY FINANCIALS For the period ended 31 Dec FY2015 FY2014 Change (%) Revenue (RMB’000) 10,375,501 7,836,633 +32% Gross Profit (RMB’000) 3,709,323 2,844,773 +30% Gross Profit Margin (%) 35.8% 36.3% -0.5pp Core Profit (RMB’000) 1,619,953 1,025,336 +58% Core Profit Margin (%) 15.6% 13.1% +2.5pp E
Slide 35: FY2015 Key Financials
FY2015 KEY FINANCIALS (RMB’000) As at 31 Dec 2015 As at 31 Dec 2014 Change (%) Total current assets 44,738,520 29,559,864 +17% Total non-current assets 8,107,338 9,515,143 -15% Total current liabilities 25,625,902 17,278,610 +49% Total non-current liabilities 16,978,601 12,406,598 +37% Total equity
Slide 36: Disclaimer
DISCLAIMER These materials have been prepared by Yuzhou Properties Company Limited (the “Company”) solely for informational use during its presentation to current and/or prospective investors to provide an update on the business performance and development of the Company. No representation or warran
Yuzhou Properties Company — FY2015 Earnings Presentation on 6ix