presentation on 2015 interim results · as at the date of this announcement, the executive...

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 01628)

PRESENTATION ON 2015 INTERIM RESULTS

A presentation in relation to the interim results of Yuzhou Properties Company Limited for the period

ended 30 June 2015 is appended to this announcement.

By order of the Board

Yuzhou Properties Company LimitedLam Lung On

Chairman

Hong Kong, 27 August 2015

As at the date of this announcement, the executive directors of the Company are Mr. Lam Lung

On (Chairman), Ms. Kwok Ying Lan, Mr. Lin Longzhi and Mr. Lin Conghui, and the independent

non-executive directors of the Company are Mr. Gu Jiande, Mr. Lam Kwong Siu and Mr. Wee Henny

Soon Chiang.

27 August 2015

2015 Interim Result Announcement

2

ABOUT YUZHOU PROPERTIES (01628. HK)

KEY FOCUS

CORE STRENGTH

LAND BANK

A leading property developer in West Strait Economic Zone with footprints in Xiamen, Fuzhou and Quanzhou, the Top 3 largest cities in Fujian Province

Successful expansion into Hong Kong, Shanghai, Nanjing, Hefei, Tianjin, Longyan, Bengbu and Zhangzhou

Well-established market leader in Xiamen with nearly 2.22 million sq.m. of saleable

land bank as at June 2015

Defensive land cost through smart land acquisitions : weighted average unit cost of land bank is 2,471 RMB/sq.m., accounting for 27% of 1H2015 contracted ASP

Sustainable high profit margin and low gearing compared to peers

Total saleable GFA as at June 2015 : over 8.81 million sq.m.

51% in West Strait Economic Zone, 45% in Yangtze River Delta and 4% in Pan-Bohai Rim

Acquired approx. 1.01m sq.m. of saleable GFA in 2014 and 0.45m sq.m. YTD 2015

ABOUT PRESENTERS

Mr. LAM, Lung On Founder,

Chairman and Executive Director

Mr. Chen Chao Assistant President and

General Manager of Planning & Finance Dept.

Mr. Hui Chun Yip Chief Financial Officer and Company Secretary

3

TABLE OF CONTENTS

II. BUSINESS REVIEW

III. FUTURE PERSPECTIVES

I. FINANCIAL HIGHLIGHTS

IV. APPENDIX

FINANCIAL HIGHLIGHTS

5

HIGHLIGHTS OF 2015 INTERIM RESULTS

FINANCIAL HIGHLIGHTS FOR THE 6 MONTHS ENDED 30 JUNE 2015

Compared with 1H2014

Compared with the end of Dec 2014

Contracted Sales: RMB 5,736 million

Recognized revenue: RMB3,502 million

Core Profit to owners of parent : RMB552 million

(+RMB426 million or +8%)

(- RMB422 million or -11%)



(- RMB1,370 milliom or -14%)

(+9.2 percentage points)

Total equity: RMB10,229 million

Cash on hand: RMB8,415 million

Net gearing ratio: 69.0%

6

1H2015 KEY PROFIT&LOSS ITEMS

* After 5.55% Business Taxes

Core Profit

RMB million

RMB million

Revenue*

Profit Attributable to shareholder

RMB million

Gross Profit

RMB million

7

1H2015 REVENUE BREAKDOWN

(RMB’000) 1H2015 1H2014 Change

Sales of properties 3,418,051 3,833,688 -11%

Rental income 31,347 28,282 +11%

Property management fee income

42,068 26,892 +56%

Sales of construction materials

2,850 27,871 -90%

Hotel operation income

7,455 7,271 +3%

Total 3,501,771 3,924,004 -11%

100%=RMB 3,924 million 100%=RMB 3,502 million

8

ANALYSIS ON 1H2015 RECOGNIZED PROPERTY SALES

Recognized Property Sales*

RMB million

Recognized GFA by City

%

* After 5.55% Business Taxes

Recognized Sales by City

%

Recognized GFA & ASP

GFA (sq.m.) ASP (RMB/sq.m.)

9

1H2015 KEY BALANCE SHEET ITEMS

RMB million RMB million

Cash Position Total Debt

Total Asset Total Equity

RMB million RMB million

10

1H2015 STABLE FINANCIAL POSITION

Total Debt = RMB15,475 million

%

Net Gearing Ratio

Debt Profile by Currency

Debt Profile by Maturity

Debt Profile by Type

%

%

%

11

The weighted average funding cost was 8.17%, and the total available credit facilities was RMB10,670 million with unused facilities of RMB3,136 million.

BUSINESS REVIEW

12

SNAPSHOT OF LAND BANK

8.81 million sq.m. as at June 2015

Unit Cost of Land Bank as % 1H2015 Contracted ASP

% %

27.4

Unit Cost of Land Bank as % Contracted ASP

18.2

Tianjin

Hefei Shanghai

Fuzhou Longyan Quanzhou

Xiamen zhangzhou

West Strait Econimic Zone

City

Saleable GFA

(‘000 sq.m.) No. of

projects

Average Land Cost

（RMB/sq.m.）

% of saleable

GFA

Bohai Rim Region

Tianjin 351 2 1,061 4

Yangtze River Delta

Shanghai 636 6 3,382 7

Nanjing 113 1 16,657 1

Hefei 2,538 6 2,044 29

Bengbu 668 1 660 8

West Strait Econimic Zone

Xiamen 2,215 24 3,665 25

Fuzhou 525 3 3,176 6

Quanzhou 1,195 1 374 14

Longyan 312 1 1,921 3

Zhangzhou 255 1 2,400 3

Offshore Hong Kong 2 1 135,140 0

TOTAL 8,810 47 2,471 100

Bengbu Nanjing

Hong Kong

13

MARKET LEADERSHIP IN XIAMEN, FUJIAN PROVINCE

1

6

3 4

5

Quanzhou

Fuzhou

Xiamen

Selected projects in Xiamen

2 Yuzhou Plaza

Yuzhou Riverside City Town

5

1 Yuzhou World Trade Center

Yuzhou Central Coast

8 Xiang’an New Project

Under development Completed Held for development

8

2

3 Yuzhou Shoreline

Yuzhou Cloud Top Int’l

4 6

7 Yuzhou Lucca Town

* Source : Database from CRIC, as at 30 June 2015 Xiamen Municipal Land, Resources & Housing Administrative Bureau # Note: In terms of GFA sold

Longyan

Zhangzhou

9

9 Jimei New Project

7

%

Residential Market Share in Xiamen#

14

Million sq.m.

Largest Land Bank* in Xiamen (As at June 2015)

1H2015 CONTRACTED SALES

Contracted Sales (1H2013 vs. 1H2014vs. 1H2015)

RMB million

# Project

City

Interest in Project

Contracted Sales As of Total

Contracted GFA

Contracted ASP

% (RMB mn) (%) (sq.m.) (RMB/sq.m.)

1 Yuzhou Golf Xiamen 100% 6 0% 396 15,687

2 Yuzhou Shoreline Xiamen 100% 75 1% 2,696 27,934

3 Yuzhou Central Coast Xiamen 80% 972 17% 55,735 17,448

4 Yuzhou Riverside City Town Xiamen 100% 537 9% 53,058 10,124

5 Yuzhou Cloud Top International Xiamen 100% 349 6% 9,296 37,547

6 Haicang Dream Town Xiamen 20% 285 5% 18,742 15,223

7 Yuzhou Gushan No.One Fuzhou 60% 17 0% 1,818 9,323

8 Yuzhou Oriental Venice Phase 1&II Fuzhou 100% 6 0% 303 19,340

9 Yuzhou Oriental Venice Phase III Fuzhou 100% 456 8% 44,704 10,191

10 Yuzhou City Plaza Phase I Quanzhou 100% 264 5% 42,609 6,203

11 Yuzhou Castle above City Longyan 100% 298 5% 54,814 5,439

12 Others Xiamen 100% 10 0% 1,441 7,144

West Strait Economic Zone 3,277 57% 285,612 11,472

13 Land Dream Shanghai 100% 6 0% 594 10,473

14 Yuzhou City Plaza Shanghai 100% 50 1% 6,080 8,187

15 Yuzhou Commercial Plaza Shanghai 100% 39 1% 1,870 20,926

16 Yuzhou Skyline Hefei 100% 541 9% 80,427 6,723

17 Yuzhou Jade lakeshire Hefei 100% 377 7% 51,907 7,263

18 Yuzhou Central Plaza Hefei 72% 545 9% 84,715 6,430

19 Yuzhou Town Hefei 51% 362 6% 37,633 9,607

20 Yuzhou Royal Seal Hefei 49% 220 4% 32,763 6,719

21 Yuzhou Prince lakeshire Bengbu 100% 90 2% 21,349 4,237

Yangtze River Delta 2,230 39% 317,338 7,026

22 Yuzhou Palace Country Tianjin 100% 160 3% 24,792 6,474

23 Yuzhou Royal Lakeshire Tianjin 100% 70 1% 9,339 7,459

Bohai Rim Region 230 4% 34,131 6,743

Total 5,737 637,081 9,004

FY2013 FY2014 1H2015

# of Cities 7 8 8

# of Projects 20 23 23

ASP (RMB/sq.m.)

10,499 9,972 9,004

15

MONTHLY CONTRACTED SALES IN 2014 vs. 2015

Monthly Contracted Sales ( Jan 2014 – Jul 2015)

16

1H2015 SELL-THROUGH RATE REACHED 60%

The Average Sell-through Rate is 60%

%

City Xiamen Xiamen Xiamen Xiamen Xiamen Fuzhou Quanzhou Longyan Shanghai Hefei Hefei Hefei Hefei Hefei Bengbu Tianjin Tianjin Total

GFA Launched (sq.m.)

72,960 87,380 12,574 51,826 22,447 73,537 78,868 91,912 24,323 132,318 92,870 134,294 44,259 51,158 44,323 38,135 15,827 1,069,010

GFA Sold (sq.m.)

55,735 53,058 9,296 18,742 4,533 46,825 42,609 54,814 8,544 80,427 51,907 84,715 37,633 32,763 21,349 24,792 9,339 637,081

17

LAND REPLENISHMENT YTD2015

Date of Acquisition

City Project Type Methodology Site

Area(sq.m.) Saleable GFA

(sq.m.)

Total Land Cost

(RMB mn)

Average Land Cost

(RMB/sq.m.)

Estimated ASP

(RMB/sq.m.)

January 2015 Xiamen Resi/Com Bidding and Auction 70,109 305,160 2,740 8,979 20,000+

July 2015 Hefei Resi/Retail Bidding and Auction 49,126 144,923 700 4,831 12,000+

Total 119,235 450,083 3,440 7,643 N/A

Xiamen Jimei Project

Xiamen Island

Xiamen

Airport

Xiamen Jimei Project(2015.01)

Yuzhou Central Coast

Yuzhou University City

Yuzhou Golf

Xiamen Metro Line 1

( Planning)

Hefei Xinzhan Project

18

1H 2015 CASH FLOW POSITION

RMB Bn FY2014

(A) 1H2015

(A) FY2015

(E)

Cash on Hand (at the beginning) 3.88 9.78 9.78

Cash Proceeds from Contracted Sales 9.55 6.83 12.64

Rental, Management Fee & Other Income 0.23 0.14 0.35

Share Placing - 0.62 0.62

Net Proceeds from Cooperation 2.53 1.03 1.03

New Debt Drawdown 8.16 1.87 4.00

Paid Land Premium 4.56 5.21 6.41

Construction Cost Capex 3.97 2.15 4.76

Other Expenses - Interest, Tax, Dividend and Others 3.58 2.70 4.29

Debt Repayment 2.46 1.79 3.80

Cash on Hand (at the ending) 9.78 8.42 9.16

Cash on Hand 9.78

Rental, Management Fee & Other Income

0.14

Contracted Sales Cash Proceeds

6.83

New Debt Drawdown

1.87

Construction Cost Capex

2.15

Other Expenses

2.70

Debt Repayment

1.79

(Unaudited) RMB Bn

Total Inflow 10.48

Total Outflow 11.85

Paid Land Premium

5.21

Net Cooperation Proceeds

1.03

19

Share Placing

0.62

Community O2O Service Platform

III. Enhance property owners and tenants’ loyalty and satisfaction

IV. Increase Yuzhou’s brand popularity

Online I. Synergic effect with Yuzhou’s existing business segments (i.e. shopping mall, hotel and project new launch) and new business

Offline

Yuzhou Real Estate Management Service Co., Ltd.

Property Management Offices at different real estates provide basic services including span security, landscaping, mechanical and electrical repairs…etc

YujiaMarts (convenient store) sell food, low to high-end daily essentials, and providing delivery pick up service to residents

Providing services for over 200,000 households in over 10 cities

Through the platform, property owners and tenants can order a variety of services including breakfast order, house cleaning , car cleaning, maintenance claim, fees payment, and group-buying…etc. through online and enjoy offline

Handling fees payment through deposits in “Yuzhou card”, enjoying price discount, point reward and subsequent fee deduction. Users can be rewarded with hotel and property new launch discount …etc

II. Platform’s fans base can help promoting profitable new business such as P2P

Community O2O Service Platform

Xiamen

O2O Platform Future Development

SHORT-TERM

GOAL

LONG-TERM

GOAL

Increasing the user base by organizing promotional activities in real estates and online

After implementing trial services in Xiamen, the platform will gradually deployed to Yuzhou’s all communities nationwide

Introducing more exclusive services, eg: more group-buying choice, fresh food delivery, cloth washing, social platform……etc

With brand loyalty implanted in sufficient user base, Yuzhou can introduce profitable services, such as P2P and house rental.

Providing synergic effect between Yuzhou’s different business segments, i.e. shopping malls, hotel and property new launch….etc.

Expanding to all communities

Shopping

Mall

Hefei Shanghai Bengbu Nanjing Tianjin

Hong Kong

Xiamen Fuzhou Longyan

Quanzhou Zhangzhou

Project new launch

Hotel

New business,

eg: P2P, house rental

and sale

Introducing more exclusive services

21

FUTURE PERSPECTIVES

22

MARKET OUTLOOK

2014

1H2015

Future Industry consolidation will continue Urbanization and the growth of disposable income will drive the long-term demand Strategic development in diverse aspects and adopting the "Internet Thinking"

Credit easing and cancellation on “Housing Purchase Restriction” in several cities Rigid demand and upgrade demand for housing still very strong

Overall downturn in the market and obvious discrepancy between different cities Central government adopted market-oriented way to release the rigid demand

23

OUR STRATEGIES TO WEATHER THE MARKET

Diversify product mix to fulfill the user-oriented demand,

better catered to current market

Flexible pricing strategy in line with market expectations to

boost sales volumes

Product and Pricing Flexibility

Stringent Investment Discipline

Experienced Management

Stable Cashflow

Highly experienced management team with strong

execution capabilities and deep industry insights

Effective marketing strategy, humanized design &

excellent cost control

Sell-through rate: stable cash flow and fast development cycle

Profit margin: sustainable development

Executive power: good corporate governance and stable

operation

Keep cautious in land acquisition

Maintain the net gearing ratio at a manageable level

Strengthen cooperation with investment funds and other

developers

Organizes various financing channels to further optimize

its financial structure

24

2H2015: DETAILED LAUNCH TABLE

25

# Project City Launch Type Planned Sales GFA for 2H2015 As of Total

(sq.m.) (%) 1 Yuzhou Central Coast Xiamen Existing 44,670 3% 2 Yuzhou Riverside City Town Xiamen Existing 122,484 8% 3 Yuzhou Cloud Top International Xiamen Existing 3,278 0% 4 Haicang Dream Town Xiamen Existing 110,713 7% 5 Yuzhou Lucca Town Xiamen New Launch 97,145 6% 6 Others Xiamen Existing 16,494 1% 7 Yuzhou Gushan No. One Fuzhou Existing 9,304 1% 8 Yuzhou Oriental Venice Fuzhou Existing 85,285 5% 9 Yuzhou Cambridge Town Fuzhou New Launch 51,263 3%

10 Yuzhou City Plaza Quanzhou Existing 111,834 7% 11 Yuzhou Castle above City Longyan Existing 99,084 6% West Strait Economic Zone 751,554 48%

12 Land Dream Shanghai Existing 3,281 0% 13 Yuzhou City Plaza Shanghai Existing 28,442 2% 14 Yuzhou Commercial Plaza Shanghai Existing 32,695 2% 15 Yuzhou Bustling Center Shanghai New Launch 30,944 2% 16 Yuzhou Skyline Hefei Existing 129,893 8% 17 Yuzhou Jade Lakeshire Hefei Existing 79,934 5% 18 Yuzhou Central Plaza Hefei Existing 154,470 10% 19 Yuzhou Town Hefei Existing 46,337 3% 20 Yuzhou Royal Seal Hefei Existing 87,207 6% 21 Yuzhou Central Town Hefei New Launch 59,594 4% 22 Yuzhou Prince Lakeshire Bengbu Existing 66,852 4% 23 Yuzhou Yuhuatai Project Nanjing New Launch 26,123 2%

Yangtze River Delta 745,772 47% 24 Yuzhou Palace Country Tianjin Existing 51,199 3% 25 Yuzhou Royal Lakeshire Tianjin Existing 22,639 1%

Bohai Rim Region 73,837 5% Total 1,571,163 100%

2H2015: LAUNCH BREAKDOWN

100% = 1,571,163 sq.m.

By City %

By Launch Type

By Region By Project Type

%

% %

26

MAJOR CONTRIBUTING PROJECTS IN 2H2015

Hefei Yuzhou Central Town (合肥禹洲‧中央城)

Xiamen Yuzhou Riverside City Town (廈門禹洲‧溪堤尚城)

Located at the center of Tong’an, surrouned by national wetland park

High-rise residential units, commercial and garden houses

Land cost: RMB 1,696/s.qm.,

Current ASP:RMB 11,000/sq.m

Located at a pilot site of integrated development of Hefei Xinzhan

Surrounded by communities and well-established infrastructure

Land cost: RMB 4,286 /sq.m.,

Expect ASP: RMB 12,000/sq.m.

Xiamen Yuzhou Lucca Town (廈門禹洲‧盧卡小鎮)

At the recreational and educational district of Xiamen Xiangán

High-rises low-rises residential units, garden house and retail

Land cost: RMB 12,059/sq.m.,

Current ASP:RMB 30,000/sq.m.

Hefei Yuzhou Central Plaza (合肥禹洲‧中央廣場)

Located at the East New Town with total saleable GFA of 1 million sq.m

High-rise residential units with variety product type

Land cost: RMB 1,421/s.qm.,

Current ASP:RMB 6,500/sq.m

27

LAND BANKING STRATEGY

Guangdong

Hunan

Jiangxi Zhejiang

Pearl River Delta (PRD)

West Strait Economic Zone

Yangtze River Delta (YRD)

Shanghai

Taiwan

Fujian Fuzhou

Xiamen

Taipei

Fujian

Focus on the West Strait Economic Zone A new strategic focus and growth engine in China promoted by the State Council

Penetrate further into the region To solidify the long-time market leadership by expanding into Tier 1 and 2 cities Stick to our core competency To acquire land through Public Auction and Merger & Acquisition

Land bank* chart as at June 2015

28

West Strait Economic Zone

(51%)

* Land bank as at June 2015 was 8.81 million sq.m..

APPENDIX

29

XIAMEN PROPERTY MARKET OVERVIEW

Residential Land Supply and Property Transactions in Xiamen

Monthly Transaction Volume and ASP of Residential Properties

Source：Database from CRIC; Land Supply Data for Residential Properties Supply(excluding social housing)

Source：Database from CRIC; Data Only for Commodity Housing(excluding social housing)

30

509 1,823

3,894

1,073

6,055

6,743

2,247

4,883

1,258

2,040

766

2,723 3,174 3,159

1,041

4,109

2,274 2,472

4,543 4,490

3,124

1,334 828

3,229

5,726 4,032 4,348 3,810 3,397 2,701

11,276 11,532 10,071

4,744 6,601

9,708 9,891 8,854

11,600

13,973 12,863

15,701

19,231 19,361

0

5,000

10,000

15,000

20,000

25,000

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015（1H）

Land Supply (GFA)for Residential Properties 000sq.m. Transaction Volume of Residential Properties 000sq.m.

Per GFA Land Cost RMB/sq.m. ASP of Residential Properties RMB/sq.m.

'000 sq.m. RMB/sq.m.

610

222 292

168 193 213 225 225 191 243 267 278 149 91 163

226

384 320

17,973 18,215 17,690

20,624 22,199 22,550 23,630

20,511 18,412 19,422

20,815 20,013 19,055 20,236 20,360

19,086 19,109 19,241

0

5,000

10,000

15,000

20,000

25,000

0

100

200

300

400

500

600

700

Jan-14 Feb-14 Mar-14 Apr-14 May-14 Jun-14 Jul-14 Aug-14 Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15

RMB/sq.m. '000sq.m.

Monthly Transaction Volume of Residential Properties ‘000sq.m. ASP of Residential Properties RMB/sq.m.

FUZHOU PROPERTY MARKET OVERVIEW

Residential Land Supply and Property Transactions in Fuzhou



Source：Database from CRIC; Data Only for Commodity Housing(excluding social housing) 31

3,159

2,577

1,185 820

1,308

3,623

2,905

1,000

2,016

1,224

425 696 870 975

1,327

4,261

1,877 1,875

2,524 2,764

2,410

1,406

1,333 2,346

5,405

3,839 4,214 4,841 5,376 5,241 5,225

6,046

8,464

3,477 4,126

7,590 7,557 8,164

11,942

14,231 14,188

16,372 16,552 15,361

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015（1H）




280

155 208

161 130 140 152 204 167

242 216

355

183 182 227 222 244

348

18,446 16,804 16,417 17,091 17,024 17,835 17,252

15,384 15,629 15,474 15,787 16,110 17,213

15,692 14,889 14,979 15,347 14,774

0

5,000

10,000

15,000

20,000

0

50

100

150

200

250

300

350

400


RMB/sq.m. '000sq.m.


SHANGHAI PROPERTY MARKET OVERVIEW

Residential Land Supply and Property Transactions in Shanghai


Source: Database from CRIC; Land Supply Data for Residential Properties Supply(excluding social housing)

Source: Database from CRIC; Data Only for Commodity Housing(excluding social housing) 32

34,809

23,421

17,776

7,514 8,972

14,565

16,914

11,440

14,031

9,704

6,304

17,941 16,151

20,128

8,779

18,999

9,897 7,287 9,377

12,820 9,713

6,116 355 712

2,121 3,215

7,944 6,632 3,996

4,852 5,845

9,084 9,508 7,767

9,655 10,556

13,971 16,039

21,728 22,278 22,502 24,177

27,212

30,824

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015（1H）




699 418

930 761

595 714 685 645 773 1,092 1,032

1,368

755 423

780

1,242 1,427 1,489

25,730 25,751 25,840 25,951 27,651 26,551 26,512 26,335 27,645 27,554 27,770 30,032 28,588 29,286 27,944 29,388

31,776 34,191

0

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

0

200

400

600

800

1,000

1,200

1,400

1,600


RMB/sq.m. '000sq.m.


HEFEI PROPERTY MARKET OVERVIEW

Residential Land Supply and Property Transactions in Hefei




4,540

2,379

10,256

4,879

9,619 8,900 9,403

11,371 12,664

15,443

6,332 5,374 5,833

9,531

7,754

10,684

6,256 5,413

8,439

10,765 11,624

4,162

1,201 729 782 1,024

1,649 2,166

1,621 1,456 1,495

2,686 2,865

2,799 2,874 3,154

4,100 4,635

6,007 6,259 6,351 6,986 7,190

8,119

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015（1H）



1,196 1,010

1,257 1,061

908 848 847 948 785 808

1,032 924 644

364

723 759 906

766

6,772 6,585 7,020 7,123 7,312 7,279 7,355 7,461 7,382 7,227 7,393 7,662 8,108 8,216 7,995 8,048 8,178 8,200

0

2,000

4,000

6,000

8,000

10,000

0

200

400

600

800

1,000

1,200

1,400


RMB/sq.m. '000sq.m.


‘000sq.m. RMB/sq.m.

NANJING PROPERTY MARKET OVERVIEW

Residential Land Supply and Property Transactions in Nanjing




7,927

11,391

3,864

5,913

11,651 12,791

9,417

13,116

15,570

4,804

12,109

10,232

4,873

12,075

5,810 4,036

7,621

9,912 8,305

4,481

1,107 2,309 2,054

3,160

4,842

2,733 3,806

5,953

4,128 5,408 4,394

5,459

6,376 7,348 10,688

10,775

10,929 12,305 13,521

14,258

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015（1H）



871

490 658 733 591 504 501 633 585

853 1,052 1,145

758

390 670 769 886 1,007

14,475

11,737 12,911 13,311 13,730 13,682 13,436 13,009 13,902 13,321

14,737 15,148 13,491 13,559 12,694

14,305 14,895 15,548

02,0004,0006,0008,00010,00012,00014,00016,00018,000

0

200

400

600

800

1,000

1,200

1,400



‘000sq.m.

‘000sq.m.

RMB/sq.m.

RMB/sq.m.

DETAILED LAND BANK TABLE

35

Project Site Area Location Unit Land Cost Total GFA Total Saleable GFA Sold and Delivered

Saleable GFA Pre-sold Saleable GFA Held for Sale Only

Held for Investment Only

Land Reserve Interest in the Project

(sq.m.) (RMB/sq.m.) (sq.m.) (sq.m.) (sq.m.) (sq.m.) (sq.m.) (sq.m.) (sq.m.) %

Completed Projects

Yuzhou Overseas City 27,703 Xiamen 830 239,627 236,745 235,644 - - 1,101 1,101 100%

Yuzhou Shuilian Manor 12,909 Xiamen 910 29,126 27,325 27,325 - - - - 100%

Yuzhou Hai Tian Plaza 6,316 Xiamen 396 65,104 64,575 63,359 - 355 861 1,216 100%

Yuzhou Harbour City 20,089 Xiamen 761 191,649 186,013 186,013 - - - - 60%

Yuzhou New City 25,610 Xiamen 647 93,473 90,770 87,144 - 262 3,364 3,626 100%

Yuzhou Garden 27,345 Xiamen 586 92,888 92,119 89,753 289 385 1,692 2,366 100%

Yuzhou Galaxy Garden 26,367 Xiamen 1,718 93,925 91,689 91,463 - 226 - 226 100%

Yuzhou New Manor 45,619 Xiamen 493 118,892 118,652 118,590 - 62 - 62 100%

Yuzhou World Trade Center 19,454 Xiamen 845 204,476 182,640 131,872 1,177 491 49,100 50,768 100%

Yuzhou Golden Seacoast 70,793 Xiamen 1,590 245,073 226,679 187,516 7,513 - 31,650 39,163 100%

Yuzhou University City 90,750 Xiamen 932 480,252 467,112 444,818 187 15,011 7,096 22,294 100%

Yuzhou Castle above City 52,715 Xiamen 1,273 235,984 231,017 166,522 51,783 9,954 2,758 64,495 100%

Yuzhou Sunshine City 22,868 Xiamen 1,301 72,733 72,278 59,413 - 12,865 - 12,865 100%

Yuzhou Golf 55,986 Xiamen 1,165 129,187 114,574 73,364 1,171 40,039 - 41,210 100%

Yuzhou Shoreline 107,622 Xiamen 3,560 473,184 421,316 324,175 717 82,024 14,400 97,141 100%

Yuzhou Cloud Top International 15,652 Xiamen 3,174 98,294 71,214 43,802 5,628 3,278 18,506 27,412 100%

Yuzhou Plaza 3,333 Xiamen 2,417 60,130 57,861 - - - 57,861 57,861 100%

Yuzhou Jinqiao International 49,738 Shanghai 1,242 234,484 230,955 170,744 24,216 3,280 32,715 60,211 100%

Yuzhou Plaza 6,818 Shanghai 2,620 35,837 28,624 - - - 28,624 28,624 100%

Yuzhou Gushan No. One 234,160 Fuzhou 1,831 88,287 79,923 60,985 297 18,641 - 18,938 60%

Sub-total 921,847 1,476 3,282,605 3,092,081 2,562,502 92,978 186,873 249,728 529,579

Projects Under Development

Yuzhou International Hotel 60,018 Xiamen 1,175 125,221 102,142 - - - 102,142 102,142 100%

Yuzhou Central Coast 123,240 Xiamen 2,225 644,061 615,331 389,971 121,810 78,550 25,000 225,360 80%

Yuzhou Riverside City Town 284,414 Xiamen 1,556 559,276 559,276 69,225 113,088 296,463 80,500 490,051 100%

Haicang Vanke City 189,752 Xiamen 2,773 545,229 545,229 99,954 334,562 110,713 - 445,275 20%

Yuzhou Lucca Town 54,323 Xiamen 12,059 136,000 136,000 - - 136,000 - 136,000 100%

Yuzhou Commercial Plaza 40,911 Shanghai 2,367 135,880 110,460 - 6,277 78,332 25,851 110,460 100%

Yuzhou City Plaza 50,628 Shanghai 1,445 100,489 98,494 - 11,383 51,834 35,277 98,494 100%

Yuzhou Bustling Center 55,017 Shanghai 10,405 126,540 126,540 - - 126,540 - 126,540 100%

Yuzhou Skyline 446,757 Hefei 388 1,203,764 1,187,376 776,684 142,394 170,998 97,300 410,692 100%

Yuzhou Jade Lakeshire 95,978 Hefei 1,755 352,268 287,934 - 170,064 117,870 - 287,934 100%

Yuzhou Central Plaza 279,535 Hefei 1,421 918,698 918,698 - 261,724 556,974 100,000 918,698 72%

Yuzhou Royal Seal 156,667 Hefei 2,825 470,000 470,000 - 58,248 411,752 - 470,000 49%

Yuzhou Town 36,387 Hefei 3,900 109,160 109,160 - 61,039 46,337 1,784 109,160 51%

Yuzhou Prince Lakeshire 133,667 Bengbu 660 668,333 668,333 - 66,427 601,906 - 668,333 100%

Yuzhou Oriental Venice 706,397 Fuzhou 2,846 559,266 549,185 179,336 51,766 302,350 15,733 369,849 100%

Yuzhou Palace Country 135,173 Tianjin 1,060 320,374 319,748 99,209 14,722 205,817 - 220,539 100%

Yuzhou Royal Lakeshire 109,090 Tianjin 1,062 130,908 130,908 - 18,120 112,788 - 130,908 100%

Yuzhou Castle above City 100,878 Longyan 1,921 312,330 312,330 - 144,206 153,524 14,600 312,330 100%

Yuzhou City Plaza Phase 241,707 Quanzhou 374 1,480,991 1,425,866 231,027 108,371 927,748 158,720 1,194,839 100%

Sub-total 3,300,539 1,715 8,898,788 8,673,010 1,845,406 1,684,201 4,486,496 656,907 6,827,604

Projects Held for Future Development

Yuzhou Xiang'an Com/Offi Project 8,264 Xiamen 3,013 89,300 89,300 - - - 89,300 89,300 100%

Yuzhou Jimei Project 70,109 Xiamen 8,979 305,160 305,160 - 220,160 85,000 305,160 51%

Yuzhou Cambridge Town 54,507 Fuzhou 4,256 136,268 136,268 - - 136,268 - 136,268 100%

Yuzhou Caine Road Project 278 Hong Kong 135,140 2,886 2,214 - - 2,214 - 2,214 100%

Yuzhou Jinshan Project 174,814 Shanghai 1,324 211,418 211,418 - - 211,418 - 211,418 100%

Yuzhou Central Town 97,467 Hefei 4,286 341,135 341,135 - - 341,135 - 341,135 100%

Yuzhou Yuhuatai Project 41,494 Nanjing 16,657 112,865 112,865 - - 112,865 - 112,865 100%

Yuzhou Zhangzhou Project 100,057 Zhangzhou 2,400 279,309 255,000 - - 255,000 - 255,000 100%

Sub-total 546,990 5,589 1,478,341 1,453,360 - - 1,279,060 174,300 1,453,360

Total 4,769,376 2,085 13,659,734 13,218,451 4,407,908 1,777,179 5,952,429 1,080,935 8,810,543

1H2015 KEY FINANCIALS

For the period ended 30 Jun

1H2015 1H2014 Change (%)

Revenue (RMB’000) 3,501,771 3,924,004 -11%

Gross Profit (RMB’000) 1,188,170 1,415,512 -16%

Gross Profit Margin (%) 33.9% 36.1% -2.2pp

Core Profit (RMB’000) 552,038 486,053 +14%

Core Profit Margin (%) 15.8% 12.4% +3.4pp

EPS (RMB/share) 18.16 16.18 +12%

CEPS (RMB/share) 15.61 14.06 +11%

36

(RMB’000) As at 30 Jun 2015 As at 31 Dec 2014 Change (%)

Total current assets 32,416,067 29,559,864 +10%

Total non-current assets 10,456,394 9,515,143 +10%

Total current liabilities 19,709,254 17,278,610 +14%

Total non-current liabilities 12,934,565 12,406,598 +4%

Total equity 10,228,642 9,389,799 +9%

Cash and bank balances 7,721,576 9,295,977 -17%

Restricted Cash 693,539 488,765 +42%

Short Term Debt 3,371,662 3,805,451 -11%

Long Term Debt 12,103,509 11,598,959 +4%

Net Debt 7,060,056 5,619,668 +26%

Net Gearing Ratio(%) 69.0 59.8% +9.2pp

1H2015 KEY FINANCIALS

37

These materials have been prepared by Yuzhou Properties Company Limited (the “Company”) solely for informational use during its presentation to current and/or prospective investors to provide an update on the business performance and development of the Company.

No representation or warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein. It is not the intention to provide, and you may not rely on these materials as providing, a complete or comprehensive analysis of the Company’s financial or trading position or prospects. The information contained in these materials should be considered in the context of the circumstances prevailing at the time and is subject to change without notice and has not been, and will not be, updated to reflect material developments which may occur after the date of the presentation. None of the Company nor any of its respective directors, officers, employees, affiliates, advisors or representatives shall have any liability whatsoever (in negligence or otherwise) for any loss or damage howsoever arising from any use of these materials or their contents or otherwise arising in connection with these materials.

These materials and subsequent discussions may contain certain statements which would constitute "forward-looking statements”. Such forward-looking statements involve risks, uncertainties, future events, our future financial, operational, business or other performance and are subject to a number of uncertainties and factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed by, or implied by the forward-looking statements in these materials. There can be no assurance that the results and events contemplated by the forward-looking statements contained in these materials will in fact occur. You should not place undue reliance on these forward-looking statements, which reflect our belief only as of the date of this presentation. These forward-looking statements are based on our own information and on information from other sources we believe to be reliable. Past performance cannot be relied on as a guide to future performance.

This document does not constitute an offer or invitation to purchase or subscribe for any securities of the Company or any holding company or any of its subsidiaries or an inducement to enter into any investment activity. No part of these materials, or the fact of its distribution or use, shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto.

DISCLAIMER

38

presentation on 2015 interim results · as at the date of this announcement, the executive...

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