Wharf home sales spin up half a year to make 4.8 billion

(5) announced yesterday that it has filed a listing application form on the Shanghai Stock Exchange and has for the first time independently disclosed the business performance of Nine and the remaining Wharf And asset valuation, which mainly owns the Harbor City and Times Square nine home, the first half has accounted for more than half profit Benchou, investment property valuation as high as 245.424 billion yuan, accounting for the current total assets of nine Wharf Qi Cheng.

Accounting for the overall assets of Jiucheng Qicheng

As of the end of June this year, six months, Wharf overall non-current assets of 384.271 billion yuan, of which 67.47% from Nine set, accounting for 259.286 billion yuan. Nine of the investment property valuation of up to 245.424 billion yuan, hotels and clubs property, plant and equipment is also up to 7.638 billion yuan; as the remaining nine Wharf Group, the investment property valuation of only 78.966 billion yuan.

Nine home in the first half of the income recorded 95.46 billion yuan, accounting for the original Wharf overall income of nearly 56%, after adjustment, operating profit and net profit in the first half were recorded 6.984 billion yuan and 4.484 billion yuan.

The first half of the total revenue accounted for more than half of Wharf

Wharf said that will be held for each holding 1 shares of Wharf shares issued a share of nine shares of the new shares to introduce the form of split on the motherboard listed on the three. After the completion of the spin-off, Wharf will not retain any of the nine shares, the structure will become by the Wheelock (0020), respectively, with nine positions and nine 62% interest.

The Company will also set out the business position of the three listed companies respectively. Nine will invest in strategic large-scale retail, office and hotel properties in Hong Kong. The Company will continue to invest mainly in Hong Kong in real estate development, (Singapore), engaged in real estate investment and development in Singapore; the remaining Wharf Group is principally engaged in real estate development and investment in China, other Hong Kong properties and non-real estate business in Hong Kong and China.

Wharf: Division of business areas by increasing financial transparency

The Group believes that the respective business of the three listed companies after the spin-off can increase the transparency in terms of operation and finance. Investors can make investments in different business areas. Borrowers and bond investors can also assess the credit of each group.