Yuzhou Group Holdings Co., Ltd. · HKEX:1628
Yuzhou — Yuzhou Properties Company — H1 2010 Earnings Presentation
25 slides from Yuzhou's earnings presentation, August 2010
Slide 1: 2010 Interim Results Announcement
2010 Interim Results Announcement August 2010
Slide 2: Table of Contents
Table of Contents Section 1 Overview Section 2 Financial Highlights Section 3 Business Overview Section 4 Development and Sales Plans Section 5 Land Bank Section 6 Strategies
Slide 3: Section 1 Overview
Section 1 Overview
Slide 4: Overview
Overview Results • Revenue increased by 56.2% YoY to RMB2,044MM • Gross profit growth by 59.6% amounted to RMB1,009MM; GP margin increased to 49.4% • Core net profit attributable to shareholders (profit attributable to shareholders excluding fair value gains on investment properties and net of defer
Slide 5: Relatively Stable Property Market in Xiamen
Relatively Stable Property Market in Xiamen Average Selling Price (RMB/sq.m.) Average Income / Average Property Price 3.5 25,000 3 20,000 2.5 2 15,000 1.5 10,000 1 5,000 0.5 Jan Feb Mar Apr May Jun 0 Xiamen Beijing Shanghai Shenzhen Xiamen Guangzhou Shenzhen Shanghai Beijing 5
Slide 6: Section 2 Financial Highlights
Section 2 Financial Highlights
Slide 7: 2010 Interim Financial Highlights
2010 Interim Financial Highlights 2010 Interim Financial Highlights RMB For the 6 months Ended 30 June 2010 2009 Change Turnover (MM) 2,044 1,308 +56.2% Gross Profit (MM) 1,009 633 +59.6% Gross Profit Margin (%) 49.4% 48.4% +1.0pp Profit Attributable to Shareholders (MM) 521 977 -46.7% Net Profit Ma
Slide 8: 2010 Interim Balance Sheet Highlights
2010 Interim Balance Sheet Highlights 2010 Interim Balance Sheet Highlights RMB MM As at 30 June As at 31 December 2010 2009 Change Cash and Cash Equivalents 673 1,570 -57.1% Total Debt 2,393 2,229 +7.4% Short-term Debt 744 783 -5.0% Long-term Debt 1,650 1,446 +14.1% Total Assets 11,255 11,142 +1.0%
Slide 9: Section 3 Business Overview
Section 3 Business Overview
Slide 10: Recognized Sales, GFA Delivered and ASP for Property Development
Recognized Sales, GFA Delivered and ASP for Property Development Recognized Sales and GFA Delivered Average Selling Price RMB MM Sq. m. RMB / sq.m. 11,823 9,381 1H2009 1H2010 10
Slide 11: Turnover Breakdown
Turnover Breakdown Turnover by Income Stream Core Net Profit by Income Stream RMB MM RMB MM 456 0.3% 2,044 0.8% 0.7% 278 1,308 0.4% 0.9% 0.9% 99.7% 98.5% 99.6% 98.2% 1H2009 1H2010 1H2009 1H2010 Property Management Fees Income from Investment Properties Sales of Properties Sales of Properties Income
Slide 12: Turnover Breakdown (Cont'd)
Turnover Breakdown (Cont’d) • Recognized sales in Xiamen accounted for 53% of our total sales of properties in 1H2010, while the recognized sales in Shanghai surged by 177 times ,contributing for the rest of total sales Sales of Properties — Projects Sales Recognized in 1H2010 Group’s Interest in Tu
Slide 13: Completion Breakdown
Completion Breakdown Completion Breakdown in 1H 2010 Group’s Interest in Project GFA Completed Projects % sq.m. Yuzhou World Trade Center Phase II 100% 41,918 Yuzhou Jinqiao International Phase III 100% 71,162 Total 100% 113,080 Completion Breakdown by Project Sq. m. Yuzhou World Trade Center Yuzhou
Slide 14: Investment Property Operating Performance
Investment Property Operating Performance Revenue from Investment Properties 1H2010 1H2009 Change RMB MM RMB MM % Rental Income 17.0 11.7 45.4% Property Management Fees 14.1 11.2 25.6% Total 31.1 22.9 35.8% Accumulated Completed GFA of Investment Properties ’000 sq.m. 407.9 38.3 78.8 83.3 2008A 2009
Slide 15: Section 4 Development and Sales Plans
Section 4 Development and Sales Plans
Slide 16: Expected GFA Delivered
Expected GFA Delivered Expected GFA Delivered ’000 sq.m. .576.6 170.2 406.4 186.6 2009A 2010E Contracted GFA Sold to be Delivered in 2H 2010 GFA Delivered in 1H 2010 16
Slide 17: Major Projects Available for Sale in 2H 2010
Major Projects Available for Sale in 2H 2010 Major Projects Available for Sale in 2H 2010 ’000 sq.m. Projects Location GFA Yuzhou University Phase II Xiamen 197.8 Yuzhou Castle above City Xiamen 173.8 Yuzhou Gushan No. One Fuzhou 83.2 Yuzhou Jinqiao International Phase IV Shanghai 69.5 Yuzhou Huaqia
Slide 18: Major Project Completion Schedule
Major Project Completion Schedule Expected To Be Completed in 2 H 2010 Estimated GFA Completed in 2H 2010 Group's Interest in the Project Location ’000 sq.m. Project Yuzhou Golden Seacoast Phase II Xiamen 117.4 100% Yuzhou University City Phase II Xiamen 197.8 100% Yuzhou Gushan No. One Fuzhou 83.2
Slide 19: Section 5 Land Bank
Section 5 Land Bank
Slide 20: Land Bank
Land Bank Total GFA MM Sq. m. Properties Under Development 2.60 Future Developments 3.61 Completed Investment Properties 0.08 Others (1) 0.05 Total Land Bank 6.34 Attributable Land Bank 6.24 Distribution by Region(2) Breakdown by Property Type(2) Five Cities Investment Properties (3) 10% Quanzhou Xi
Slide 21: Land Replenishment in 1H2010
Land Replenishment in 1H2010 • After the land replenishment in 1H2010, the average cost of our total land bank is lowered to about RMB1,100 per sq.m. • Land cost accounted for around 9.3% of the average selling price in 1H2010 Total Planned Land Cost GFA Cost per sq.m. Group's Interest Project Locat
Slide 22: Section 6 Strategies
Section 6 Strategies
Slide 23: Development Strategies – 3 Year Plan
Development Strategies – 3 Year Plan National Player Focusing on West • Further strengthen our leading position in West Strait Economic Zone Strait Economic Zone • Actively expand to the economic district centers in Yangtze River Delta, and Seek Eastern China Opportunities in • Extend coverage to No
Slide 24: Open Forum
Open Forum
Slide 25: 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
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