High Quality Assets - Holding 1.22 million sqm of prime location commercial properties in Beijing and Shanghai
Robust Operating Cash Flow - All projects under mature operating with diverse tenant mix providing a stable rental income
Outstanding Value Protection - Flexible leasing strategies adapt to market changes, maintaining a robustly stable occupancy rate and evidencing the anti-risk resilience of our assets
Stable Financial Position - No pressure on ongoing projects, low gearing ratio, healthy debt maturity profile and stable financing cost
Fulfilling sustainable commitment - Integrity based govenance, Energy conservation campaign, Green ingenuity, People oriented
Results Summary of 2024
The average occupancy of the Group's investment properties has stabilized during the Year and recovered to approximately 78% at the end of the Year.
Under the unfavorable conditions of a weakening macroeconomic environment and continued pressure on the office and commercial property leasing market, the Group recorded a total revenue of approximately RMB1,540 million for the Year.
Gross profit margin from property leasing business remained stable at approximately 83% for the Year.
Underlying profit attributable to owners of the Company from operating activities (excluding valuation changes on investment properties and one-off tax fees) was approximately RMB278 million for the Year.
Occupancy stabilized，Outstanding Value Protection
Occupancy hit the bottom and stabilized, recovered to 78%
As of the end of March 2025, occupancy has recovered to 80%
Average Occupancy[1]
Projects completed and stabilized ,offers greater value protection with low uncertainty
Investment properties demonstrate stable value and resilient anti-risk ability in the downward trend of the market
Value of Investment Properties[1]
Unit: RMB bn
76%
78%
78%
63.5
63.2
63.1
2022 2023 2024
2022 2023 2024
Note [1]: Occupancy rate for office and retail areas at the end of relevant year
Note [1]:The fair value changes of sold properties have been excluded from the comparative data of previous years
Diverse tenant mix
Revenue from each single project accounts for less than 20% of total rental income
Tenants are from diverse industries，Top sectors included TMT, Professional Services and Catering
Rental income by projects[1]Įeased areas by tenant industries [1]
3% 4%
16%
12%
7%
13%
12%
11%
11%
11%
SOHO Fuxing Plaza Bund SOHO Wangjing SOHO SOHO Tianshan Plaza GHĮ SOHO2
Qianmen Avenue Project Įeeza SOHO Galaxy/Chaoyangmen SOHO
1%
5% 5%
6%
6%
6%
7%
7%
34%
9%
7% 7%
Financial Comprehensive Services Catering
Trade Hotel Media Healthcare Retail
Medical aesthetics
Note [1] : for the year of 2024 Note [1] : asat 31 December 2024