Agile last year net profit 1.64 times to push 41 new disk sales target 138.5 billion
The property market in the Mainland continued to show good performance. In 2007, Agile (03383) announced that its net profit for the year ended at the end of last year was 6.25 billion yuan (RMB), a discount of HK$7.558 billion, 1.64 times year-on-year; HK 68 cents per share, a 2.4 times increase from the same period of 2016 (not including 2016 special interest of 25 cents). The total dividend for the year was 90 cents per share.
During the period, the turnover was 51.607 billion yuan, an increase of 10.6%, of which property development recognized sales revenue 49.262 billion yuan, accounting for nearly 95.5%. The overall gross profit margin and net profit margin were 40.1% and 13.1% respectively, up 13.6 and 6.6 percentage points year-on-year.
This year reserved 63 billion to buy land
Agile’s pre-sales amounted to RMB 89.71 billion last year, a big increase of 52.4%. The sales target for this year was raised to RMB 110 billion (approximately HK$ 138.53 billion), which is 22.6% higher than the pre-sale amount last year. Last year, an additional 7.46 million square meters of floor space were sold, valued at RMB 130 billion, and land reserves increased to 34.10 million square meters. The Group plans to launch 41 new sales this year, focusing on second-quarter sales. Chairman and Chief Executive Chen Zhuolin pointed out that this year’s investment budget is 60 billion yuan, of which 50 billion yuan (about 62.97 billion Hong Kong dollars) will be used for land acquisition, and the rest will be used for environmental protection and construction business development. There are 72 billion yuan funds returned.
Yan Ya life model and then split
The company’s spin-off property management service business Ya Life (03319) was listed last month and will study further split plans. Chen Zhuolin said that the Group will continue to focus on real estate business in the next three years, and the proportion of contributions from other industries will increase in the future. It is hoped that in 2019 or 2020 it will account for more than 30% of the total number. It will repeat the pattern of splitting Ya’s life before splitting the other 4 industries. It is estimated that the real estate business will still account for half of the entire group’s business contribution after 5 years.
Among them, the general contracting of construction projects and the management of family property business for many years, there have been 10 billion yuan orders, will be further expanded through mergers and acquisitions, the scale will be more elegant life. The landscaping project business is also relatively mature. In 2019, there will be obvious advances; the material trading business has been arranged for one year and there are several billion yuan orders; as for the agency construction business, it is newly established, and it hopes to mature after 3 years. After the industry, depending on the needs and market environment, consider splitting the listing.
In recent years, the company has continued to acquire old buildings in Hong Kong. The two old buildings in King’s Road, Quarry Bay, have unified ownership, and Chen Zhuo Lin disclosed that the project will have a good return, which is suitable for the development of the company and is confident that it can win the victory. He also stated that the company’s strengths and priorities are still in the Mainland. If Hong Kong has a suitable land size and location, it will gradually increase investment in the next few years.
As the net debt ratio soared from 49.1% to 71.4%, Zhang Sen, the chief financial officer and deputy chief executive, explained that the debt ratio was low in 2016, and the current level is still not high in the industry. If the debt is too low, it may not be able to produce benefits. This year will continue to have offshore financing plans.