KAISA GROUP HOLDINGS LTD. Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
佳 兆 業 集 團 控 股 有 限 公 司 *
(Incorporated in the Cayman Islands with limited liability)
(Stock Code: 1638)This announcement is made by the Company pursuant to Rule 13.09(1) of the Listing Rules and the Inside Information Provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).
Reference is made to the announcements of the Company dated 4 December, 21 December and 29 December 2014, 1 January, 6 January, 12 January, 16 January, 9 February, 11 February, 16
February, 8 March, 13 March, 9 April, 18 September, 29 October and 12 November 2015, and 26 January and 26 February 2016, respectively (the "Announcements"). Terms defined in the Announcements shall bear the same meaning in this announcement.
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UPDATE ON BUSINESS
The Group recorded total contracted sales of approximately RMB1,560 million in February 2016 with total contracted GFA of approximately 103,899 sq.m. and the ASP of RMB15,016 per sq.m.
GFA sold ASP(sq.m.) (RMB per sq.m.)
Tier I cities
Shenzhen
16,594
39,667
Guangzhou
3,613
16,707
Shanghai
11,941
17,293
Tier II and III cities
The Central China Region
8,790
8,589
The Pan-Bohai Bay Rim
9,211
4,372
The Western China Region
15,160
5,755
The Yangtze River Delta
21,785
15,855
The Pearl River Delta
16,807
5,158
Total 103,899 15,016
The total contracted sales of the Group for the two months ended 29 February 2016 amounted to approximately RMB3,806 million with total contracted GFA of approximately 231,945 sq.m. and the ASP of RMB16,411 per sq.m.
Properties in ShenzhenThe Group has four property projects under pre-sale in Shenzhen. The information in relation to those property projects, which are subject to the Seizure and the Blockage, has not been changed since the date of the announcement of the Company dated 26 January 2016.
The Group is in active discussion with the creditors, with an aim to resume sales of these four property projects in Shenzhen as soon as possible.
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ONSHORE LIABILITIES
As at 23 March 2016, the Group's onshore liabilities in the amount of approximately RMB33.32 billion, including approximately RMB16.35 billion granted by China CITIC Bank Corporation Limited and CITIC Trust Co., Ltd. (collectively known as "CITIC") to the Group for the restructuring, had been restructured upon completion of relevant registration procedures. Meanwhile, as advised by institutions including CITIC, they will continue to provide financing to the Group in support of the Group's business development. Upon the restructuring, the related court/arbitation/enforcement proceedings has been or are to be withdrawn. The table below summarises (i) the applications in relation to the preservation of assets of the Group filed by the Group's onshore creditors with the relevant PRC courts (the "Applications"); and (ii) subsequent civil rulings (民事裁定書) and notices of participation to action (應訴通知書) received by the Group after the Applications.
As at 25 February 2016 As at 23 March 2016 Applications 42 applications 38 applications
Civil rulings received out of the Applications
18 rulings 16 rulings
Aggregate contractual sum in dispute under the civil rulings
Approximately RMB9,638 million (equivalent to
approximately HK$11,520 million)
Approximately RMB8,602 million (equivalent to
approximately HK$10,282 million)
Notices of participation to action received out of the Applications
25 notices 24 notices
As at 25 February 2016 As at 23 March 2016Aggregate contractual sum in dispute under the notices of participation to action(Note)
Approximately RMB12,367 million
(equivalent to approximately
HK$14,782 million)
Approximately RMB11,813 million
(equivalent to approximately
HK$14,120 million)
Note: The aggregate contractual sum in dispute included some of the Group's onshore liabilities that had been restructured, for which the relevant PRC local courts had not yet issued related notices for the withdrawal of the court proceedings (結案文書).
For illustration purpose, amounts in RMB in this announcement have been translated to HK$ at HK$1.00 = RMB0.8366.
By Order of the Board
KAISA GROUP HOLDINGS LTD. Kwok Ying ShingChairman and Executive Director
24 March 2016
As at the date of this announcement, the executive Directors are Mr. Kwok Ying Shing, Mr. Sun Yuenan, Mr. Zheng Yi, Mr. Yu Jianqing and Mr. Lei Fugui; the non-executive Director is Ms. Chen Shaohuan; and the independent non-executive Directors are Mr. Zhang Yizhao and Mr. Rao Yong.
* For identification purposes only
Kaisa Group Holdings Ltd. issued this content on 24 March 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 21 April 2016 09:12:10 UTC
Original Document: http://www.kaisagroup.com/UpFiles/bpic/2016-03/20160324114244376.pdf
