HomeAsian News by Media-OutreachCIFI’s contracted sales grew by 66% year on year to RMB 16.22 billion in January 2021

CIFI’s contracted sales grew by 66% year on year to RMB 16.22 billion in January 2021

HONG KONG SAR – Media OutReach – 3
February 2021 –

 

  • In
    January 2021, the Group achieved contracted sales of approximately RMB 16.22
    billion, representing a YoY increase of approximately 66% (compared to January
    2020). Contracted GFA amounted to approximately 990,400 sq.m..
  • Contracted
    ASP was approximately RMB 16,400 / sq.m. in January 2021.

Land Acquisition

  • In
    January 2021, the Group completed the following land acquisitions: 

City

Project

Group’s
Equity Interest

Intended
Primary Use

Site
Area

(sq.m.)

Total
Planned GFA (Excluding Carpark) (sq.m.)

Group’s
Attributable Consideration (RMB)

Average 

Land
Cost (Excluding Carpark) 

(RMB/

sq.m.)

Putian

Hanjiang District, PS Auction, No. 2020-30 Project

100%

Residential

41,700

108,400

304,000,000

2,806

Lu’an

Jin’an District, Liukaichu,

No. 2020-8, 387 acres Project

100%

Residential, Commercial

258,000

502,600

1,070,000,000

2,004

Harbin

Daoli District, Chengxiang Road Project

80%

Residential, Commercial

18,300

55,000

284,540,000

6,470

Tianjin

Nankai District, Liuma Road Project

60%

Residential

15,000

37,300

762,000,000

34,048

Chengdu

Wenjiang District, Wansheng TOD Project

50%

Residential, Commercial

188,100

513,700

1,405,620,000

5,472

 

Company
News

  • CIFI
    formed a 65:35 joint venture with Zhang Tai Holdings to develop residential a
    property project in Guangxi, accelerating the development of the Group’s
    commercial and residential property development business in Guangxi, and
    further expanding its business presence in southern China and increasing the
    number of its property projects through acquisition there. Moreover, Ever
    Sunshine Lifestyle Services Group, a subsidiary of the Group, announced an
    acquisition of a 65% equity in the property management business of Zhang Tai,
    realizing the synergy between the brands of CIFI and Ever Sunshine.
  • CIFI
    successfully issues senior notes with an aggregate principal amount of US$419
    million. The senior notes are at a coupon rate of 4.375% and yield of 4.4% with
    a 6.25-year maturity period, which hit the record for the longest maturity
    period and the lowest coupon rate of the Group’s offshore bond issuance. The
    issue attracts enthusiastic response, with total orders at peak time exceeding
    US$4.8 billion, which was over 11 times of the total issue size. 82% of total
    issuance is allocated to Asian investors, while the remaining 18% is allocated
    to European investors. The final allocation to institutional investors is 72%
    of total issuance. The proceeds of the note will be used for re-financing of
    the Group’s existing indebtedness.
  • The
    Lin family, the major shareholder of CIFI, increased its shareholdings in the
    Group by a total of 1.376 million shares, fully reflecting its strong
    confidence about CIFI’s long-term development capabilities and the room for
    future growth in the stock price.
  • CIFI
    and Peaktop Group jointly held a ceremony for their signing of a strategic
    cooperation agreement. According to the agreement, the two parties will utilize
    their resources and advantages to carry out in-depth and comprehensive
    cooperation in the further development of the property market of Dongguan based
    on the principles of equality and mutual benefit, resource sharing, and
    complementing each other with their respective advantages. The cooperation will
    enhance the core competitiveness of the partners and enable them to explore
    ways to develop for mutual benefit as they are planning to build a better life
    for the people in the Greater Bay Area.
  • CIFI
    has a good start in several projects:
    • – Capitalizing on the upcoming Spring Festival,
      Hangzhou CIFI Zhaowen Huacheng Project sold 288 units with total sales value of
      RMB 860 million. Sales reached RMB 810 million with a sell-through rate of 93%
      on the day of the project launch. It conducted four additional sales launches
      within 68 days, recording cumulative sales of RMB 2.3 billion.

      – Xi’an CIFI Legend Palace Project is located on
      the edge of the economic zone of Chanba Headquarters in Xi’an. It and Daming
      Palace in the north of the city and the commercial zone in the east of the city
      form a triad. In the first 8 days that sales were conducted, Xi’an CIFI Legend
      Palace Project succeeded in registering many home buyers despite the
      competition from low-priced residential units in the city because of its
      product strength and capability of building up a large customer base. The
      contracted sales at the project in January exceeded RMB 1.0 billion as home
      buyers were willing to pay a premium for the properties at the project. As a
      result, the project outperformed the market in sales.

    • Hangzhou
      CIFI Metropolis Project, China’s first BREEAM four-star dual-certified
      residence, has been started, indicating the recognition of CIFI’s green
      technology products. BREEAM certification was founded by BRE (Building Research
      Establishment) in 1990. It is one of the world’s earliest established, most
      widely used, most widely recognized, objective and comprehensive green building
      evaluation, rating and certification standards.
    • CIFI’s
      online sales mini-program, Xu Ke Jia, was officially upgraded. Xu Ke Jia is an
      online sales platform set up by CIFI. It provides customers with detailed and
      comprehensive online services like online viewing of show flats, online
      consultancy and enquires, VR viewing of show flats, mortgage calculator, hot
      news, online presale, property agents’ recommendations, as well as online
      commission calculation. The annual transaction amounted to over RMB 13.8
      billion, and the number of registered property agents reached over 560,000.
    • As
      one of the first three shortlisted companies, CIFI acquired a 66% equity stake
      in the 354-mu Xinjin Station TOD project on 4 December 2020 and a 100% equity
      stake in the 283-mu Wenjiang Wansheng Station TOD (transit-oriented
      development) project on 5 January 2021, respectively, in Chengdu, Sichuan
      province. The acquisitions mark Chengdu CIFI’s important step in the direction
      of the overall operation of property projects in a city that embraces the TOD
      concept, and the beginning of a new government-enterprise collaboration model
      for TOD development. In 2017, Chengdu mapped out its strategy for developing
      TOD projects. Since 2019, it has been developing TOD projects which have served
      as benchmarks worldwide and have set examples for the industry.

     

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