The Group's revenue increased by 44.7% to
The Group has been accelerating the development pace and growing the scale of operations to sustain its growth over the past few years. With the increase of GFA being delivered and recognised as revenue of the Group in 1H 2021, gross profit of the Group for 1H 2021 increased by 7.5% to
Profit for the period increased by 54.8% to
Property sales recognition, property pre-sales and accumulated property contracted presales pending recognition
The Group together with its joint ventures and associates delivered a total GFA of 711,738 sqm of residential and commercial units, and 3,323 units of car parks to customers in 1H 2021, an increase of 145.4% and 96.7% respectively compared to 1H 2020. The gross property sales (including car parks) recognised in 1H 2021 amounting to
Testament to the strong buyer support for its high-quality developments in the PRC, the property contracted pre-sales of the Group together with its joint ventures and associates from residential and commercial units, and car parks for 1H 2021 was
For 1H 2021, the total property contracted pre-sales of other property development projects under the Group's project management business bearing the "Yanlord" brand name was
As at
Growing recurring income from property investment and hotel operations and property management
For 1H 2021, the total rental and hotel income of the Group increased by 40.9% to
Prudent financial management
Benefiting from the strong property contracted pre-sales with high collection ratio achieved in 1H 2021, cash and cash equivalents of the Group increased by 31.9% to
Land acquisitions
For 1H 2021, the Group replenished a total GFA of approximately 386,000 sqm of new development sites through public land auctions and acquisitions in
Commenting on the Group's development strategy, Mr.
Yanlord will maintain its strategic focus to strengthen its presence in core high-growth cities in the
With the constantly introduction of various regulations and control policies across the PRC by central and local authorities as well as the prevailing COVID-19 pandemic, Yanlord has adopted stringent investment strategies and prudent financial management policies to sustain its long-term business growth and control risk. The Group will uphold its competitive strength and market reputation to deliver high-quality products to customers.
Yanlord's premium product positioning and development capabilities have been key drivers of its growth over the years. The Group will continue optimising its product range and enhancing its management system to ensure efficient resource allocation. It will also continue improving services to ensure Yanlord can maintain its high standards while expanding its customer base and achieving growth.
Landbank and new launches in 2H 2021
As of
In line with the strong recovery of the PRC real estate industry, the Group together with its joint ventures and associates will continue to launch new projects for pre-sales in accordance with its development schedule. This would include launching of new projects and new batches of existing projects in 2H 2021, namely:
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Disclaimer
This press release may contain forward-looking statements that involve assumptions, risks and uncertainties. These forward-looking statements are based on the Group's current intentions, plans, expectations, assumptions and views about certain future events and are subject to risks, uncertainties and other factors, many of which are not within the Group's control. Actual future performance and outcomes of certain events and results may differ materially from the Group's current intentions, plans, expectations, assumptions and views about the future. Examples of these factors include, inter alia, general industry and economic conditions, interest rate movements, cost of capital and capital availability, changes in operating expenses such as employee wages and benefits, governmental and public policy changes, changes to laws and regulations, acts of god and the prevailing global COVID-19 pandemic. Accordingly, forwardlooking statements are not, and should not be construed as a representation as to the future performance of the Group. The past performance of the Group is not indicative of future performance as well.
While the Group has taken reasonable care to ensure the accuracy and completeness of the information provided in this press release, neither the Group nor any of its affiliates, advisers or representatives shall be liable (in negligence or otherwise) for any loss or damage of any kind (whether direct, indirect or consequential losses or other economic loss of any kind) suffered due to any omission, error, inaccuracy, incompleteness, or otherwise, any reliance on such information contained in this press release.
Shareholders, investors and potential investors are cautioned not to place undue reliance on these forwardlooking statements, which are based on current view of the Group on future events. Shareholders, investors and potential investors should consult their stockbrokers, bank managers, solicitors or other professional advisers if they have any doubt about the actions they should take.
About Yanlord:
Yanlord is a real estate developer focusing on developing high-end fully-fitted residential, commercial and integrated property projects in strategically selected key and high-growth cities in the PRC and
Since Yanlord's foray into the PRC property market in 1993, it has successfully developed a number of large-scale residential property developments with international communities of residents. Building on its established track record for developing high-end residential property developments in prime locations within affluent cities of the PRC, the "Yanlord" name has been developed into a premium brand synonymous with quality within the property development industry of the PRC. Typically, Yanlord's residential property developments are characterised by large-scale, multi-phased projects designed and built by international architects, leading designers and reputable contractors. Currently, the Group has an established presence in 19 key high-growth cities within the six major economic regions of the PRC, namely:
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and
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In
Since 2003, Yanlord has been developing high-quality commercial and integrated properties for long-term investment purpose, such as shopping malls, offices, serviced apartments and hotels. Currently, Yanlord holds a portfolio of core completed investment and hotel properties, including Yanlord Landmark and Hengye International Plaza in
Analysts & Media Contact:
Head of Investor Relations
Phone: +852 2861 0608
Michelle.sze@yanlord.com.hk
Investor Relations and
Corporate Communication
Executive
Phone: +65 6336 2922
Emma.xu@yanlord.com.sg
Investor Relations Associate
Phone: +65 6336 2922
Krystal.xu@yanlord.com.sg
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