EQS-News / 21/08/2019 / 11:07 UTC+8
*(For Immediate Release)*
*Fantasia's Revenue Soars 65.1% Year On Year To Approximately RMB8.58
Billion*
Financial and operational highlights*:*
? *Operating results steadily improved; financial condition remained
stable and optimized*
? The Group's total revenue reached RMB 8.577 billion, up 65.1% year on
year. Net profit was about RMB 244 million, a year-on-year growth of
35.6%. The profitability was enhanced with quality growth. Gross profit
margin was 29.6%, staying at a high level in the industry.
? As of 30 June 2019, the Group's bank balances and cash amounted to
approximately RMB 25.069 billion, representing an abundant cash flow. The
net gearing ratio was 79.5%, showing a sound financial position.
? Basic earnings per share is RMB 1.77 cents.
? *Contracted sales continued to grow; focusing on strategic metropolitan
areas and pushing forward Greater Bay Area Renewal Project*
? In the first half of 2019, the Group's contracted sales amounted to RMB
13.169 billion, a year-on-year increase of 16.5%. The group is confident
in achieving the annual sales target of RMB36 billion.
? During the reporting period, the gross floor area (GFA) of the Group's
newly commenced projects was approximately 1,397,766 square meters
(sq.m.), and the GFA of projects under construction was approximately
7,393,805 sq.m.. The saleable resources were abundant.
? The GFA of planned land bank is approximately 33.20 million sq.m.
(including the GFA of 16.72 million sq.m. for urban renewal projects
expected to be converted into land bank in the future). The land reserves
are mainly located in five metropolitan areas in China, with those in
first-tier and second-tier cities accounting for more than 90% and those
in the Guangdong-Hong Kong-Macao Greater Bay Area accounting for more than
50%.
? There are 39 urban renewal projects in different stages of development
in the Greater Bay Area, and the planned GFA of land bank is estimated to
be approximately 16.72 million sq.m., with total market value of RMB352.6
billion. Among them, 22 urban renewal projects are in progress in
Shenzhen, covering the core key urban areas such as Futian, Luohu and
Nanshan Districts.
? *Colour Life's ecosystem continued to improve; Internet giants
introduced to build smart community*
? Property sales revenue surged by 123.6% year on year in the first half
of 2019, accounting for 66.8% of total revenue, which has become the
"power source" for the Group's future revenue growth.
? As of 30 June 2019, the number of registered users in Colour Life's
ecosystem reached 32 million; specifically, the number of active users in
the ecosystem reached 16.4 million; the active rate reached 51.3%.
? On 19 July 2019, Colour Life reached an agreement with JD.com and
360.com to issue additional shares and raise funds totaling approximately
HKD490 million, and the two companies will account for 5.00% and 3.05%
respectively in the enlarged share capital. In the future, Colour Life and
JD.com will carry out cooperation in new community retail, community media
communication, terminal logistics facility, digital technology empowerment
and other aspects in the future. Meanwhile, given 360.com's advantage in
core security capabilities, the Group will cooperate with 360.com
comprehensively in fields related to community.
? *Adhere to the business strategy of "focusing on investment, ensuring
financial stability and strengthening operation"*
(21 August 2019, Shenzhen) Fantasia Holdings Group Co., Ltd. ("Fantasia" or
the "Company", together with its subsidiaries, collectively referred to as
the "Group", HKEx stock code: 1777) today announced its unaudited interim
results for the six months ended 30 June 2019 (the "Period").
*Business performance steadily improved; financial condition remained stable
and optimized*
In the first half of 2019, Fantasia's real estate contracted sales amounted
to RMB 13.169 billion, representing a year-on-year increase of 16.5 %; and
the contracted GFA was approximately 1,118,627 sq.m.. During the Period, the
Group recorded a total revenue of RMB 8.577 billion and a net profit of
approximately RMB 244 million, representing a year-on-year increase of 65.1
% and 35.6 % respectively. Gross profit was approximately RMB 2.537 billion,
up 92.5 % year on year. The gross profit margin was 29.6 % and remained at a
high level in the industry. The basic earnings per share was RMB 1.77 cents.
The Group's sales and investment scale continued to grow, and its financial
position was stable and optimized. As of June 30, 2019, the net gearing
ratio was 79.5%, bank balances and cash totaled approximately RMB 25.064
billion, showing that the Group's cash flow remained abundant.
*Contracted sales continued to grow; focusing on strategic metropolitan
areas and pushing forward Greater Bay Area Renewal Project*
In the first half of 2019, the Group achieved contracted sales amount of RMB
13.169 billion and contracted sales area of 1,118,627 sq.m.. The contracted
sales were mainly contributed from 14 cities including Chengdu, Suzhou,
Nanjing and Tianjin, as well as 38 projects including Chengdu Jiatianxia,
Nanjing Jiatianxia, Nanjing Hailrun Center, etc. The Group will continue to
deepen development in the Guangdong-Hong Kong-Macau Greater Bay Area,
Chengdu-Chongqing Metropolitan Area, Central China Metropolitan Area, the
Yangtze River Delta Metropolitan Area and the Bohai Rim Metropolitan Area,
and continuously expand the Group's strategic in-depth development in
various metropolitan areas and improve the Group's land bank layout.
In terms of land bank, as of 30 June 2019, the planned GFA of the Group's
land bank was approximately 33.20 million sq.m. (including the GFA of
approximately 16.72 million sq.m. for urban renewal projects expected to be
converted into land bank in the future). The GFA of land bank owned by the
Group was approximately 29.01 million sq.m., and the Group's equity interest
was about 85.0%. The Group's land reserves are mainly located in five major
metropolitan areas in China, with first-tier and second-tier cities
accounting for more than 90%. Among them, the land bank in the
Guangdong-Hong Kong-Macao Greater Bay Area accounted for more than 50%, with
the GFA of land bank in the six core cities (including Shenzhen, Huizhou,
Dongguan, Zhongshan, Foshan, Guangzhou) reaching 17,745,722 sq.m..
In addition, the Group continues to deepen the development in the
Guangdong-Hong Kong-Macau Greater Bay Area and is committed to strengthening
the Group's leading edge in urban renewal. At present, the Group has 39
urban renewal projects in the Greater Bay Area at different stages of
development, 22 of which are located in Shenzhen, covering the core key
areas of Futian, Luohu and Nanshan Districts, and have development plan for
cities such as Huizhou, Dongguan, Zhongshan, Foshan and Guangzhou; the
planned GFA of land bank is estimated to be approximately 16.72 million
sq.m., with total market value of approximately RMB 352.6 billion. It is
expected that 20 urban renewal projects will be converted into development
land in the next three years, with GFA of the land supply expected to be
about 6.31 million sq.m. and total market value of about RMB133.4 billion.
*Life's ecosystem continued to improve; Internet giants introduced to build
smart community *
In the first half of 2019, the Group's property sales revenue increased by
123.6% year on year, accounting for 66.8% of the total revenue, which has
become the "power source" for the Group's future revenue growth.
Specifically, the Group's subsidiary Colour Life Service Group Co., Limited
("Color Life", HKEx stock code: 1778) achieved outstanding performance.
During the reporting period, Colour Life's platform service area totaled
1,205.5 million sq.m., an increase of 83.2 million sq.m. compared with the
end of 2018. Specifically, the contracted GFA under management reached 563.5
million sq.m., serving 2,824 residential areas. Meanwhile, through the
platform output, the GFA under the Group's cooperation and alliance
agreements reached 642.0 million sq.m.. The number of registered users in
Colour Life's ecosystem reached 32 million; among them, the number of active
users in the ecosystem reached 16.4 million; the active rate reached 51.3%.
On 19 July 2019, Colour Life reached an agreement with JD.com and 360.com to
issue additional shares and raise funds totaling approximately HKD490
million, and the two companies will account for 5.00% and 3.05% respectively
in the enlarged share capital. In the future, Colour Life will work with
JD.com and 360.com to explore the innovative cross-industry integration of
"community + business", "community + logistics", "community + security" and
"community + technology" to create a warmer, better-experienced and more
efficient "smart community".
*Adhere to the business strategy of "focusing on investment, ensuring
financial stability and strengthening operation"*
In 2019, the Group adhered to the business strategy of "focusing on
investment, ensuring financial stability and strengthening operation",
taking into consideration the development strategy and development level of
the national urban agglomeration, and made plans for the urban development
with the "5+N" investment strategy. The 5 strategic core areas refer to the
five major urban agglomerations of Beijing-Tianjin-Hebei, Yangtze River
Delta, Guangdong-Hong Kong-Macao Greater Bay Area, Central China and
Chengdu-Chongqing Economic Zone. The N key cities include Huizhou, Dongguan,
Guangzhou, Foshan, Hangzhou, Ningbo, Wuxi, Nanjing, Hefei, Shijiazhuang,
etc. The Group will actively strengthen urban research, optimize investment
structure, standardize the voting process, put forward clear investment
plans and strengthen organizational management.
At the same time, the Group will transform from the planned operation model
to the "big operation" model and establish a sound "big operation"
management system. It will build an operation control system based on
business objectives (revenue scale, profit margin, cash flow) and planning
(target) management, and improve its quality and efficiency by establishing
systems and standards, implementing a monitoring mechanism and introducing
incentives. The operation control system will help the Group effectively
implement its business objectives and secure quality growth.
On the financial side, the Group is committed to building a sound "financial
iron triangle", that is, from three aspects, i.e. income statement, cash
flow statement and balance sheet, to strengthen the budget management and
cost control, increase profits, strengthen payment collection, set out clear
red line for liabilities, broaden financing channels, optimize financial
structure, and establish corresponding working institutions and systems to
improve efficiency.
*Looking into the future, Mr. Pan Jun, Chairman of the Board of Directors of
Fantasia Holdings Group Co., Limited, said,* "After 20 years of hard work,
Fantasia will continue to push forward the in-deep development for strategic
cities and continue to strive towards the "100 billion goal". At the same
time, Fantasia will also give full play to its prominent advantages in urban
renewal in the Guangdong-Hong Kong-Macao Greater Bay Area, a land full of
opportunities. After six years of transformation, the Group's "asset-light
and heavy" strategy will mark a new milestone. In the future, it will
continue to expand the layout for asset-light businesses such as property
management, injecting new vitality into the Group's growth driven by "real
estate + community". In 2019, the Group will continue to center on the
business strategy of "focusing on investment, ensuring financial stability
and strengthening operation" to achieve stable growth with high quality. The
Group also hopes to make greater achievements with every stakeholder and
continue to set sail on a new journey."
Document: http://n.eqs.com/c/fncls.ssp?u=JWIKVUBEVO [1]
Document title: Fantasia's Revenue Soars 65.1% Year On Year To Approximately
RMB8.58 Billion
21/08/2019 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=3fe3a554670f0a55b3e74aff83a032e6&application_id=860693&site_id=vwd&application_name=news
(END) Dow Jones Newswires
August 20, 2019 23:07 ET (03:07 GMT)
© 2019 Dow Jones News
