PR83483

FOSHAN, China, March 30, 2020 /PRNewswire=KYODO JBN/ --

-Positive Net Operating Cash Flow for Four Consecutive Years Backed by Steady

Improvement in Sales Performance

-Total Revenue reached US$68.5 billion, while net profit stood at US$8.6 billion

-Gross profit, net profit and other core earnings indicators maintain double-digit growth

On March 27, Country Garden Holdings Company Limited ("Country Garden")

(02007.HK) released its financial results for the year ended December 31, 2019.

Key highlights include:

Steady improvement in sales performance

In 2019, the Group (including joint ventures and associates) achieved contracted sales

attributable to shareholders of RMB552.2 billion (US$77.8 billion), with contracted sales GFA

attributable to shareholders totaling approximately 62.37 million sq. m. This represents

a year-on-year increase of 10.03% and 15.16% respectively.

Double-digit growth for core earnings indicators

In 2019, the Group's total revenue rose by 28.2% YoY to RMB485.91 billion

(US$68.5 billion). Gross profit increased by 23.6% YoY to approximately

RMB126.64 billion (US$17.9 billion), while net profit increased by 26.1% YoY to

approximately RMB61.2 billion (US$8.6 billion). Overall, the core net profit

attributable to shareholders rose by 17.6% YoY to RMB40.12 billion (US$5.6 billion).

Abundant operating capital

As of 31 December 2019, the Group's available cash rose to a historic high of

RMB268.35 billion (approx. US$37.8 billion). This marks the fourth consecutive

year since 2016 that operating cash flow has remained positive.

Balancing significant revenue growth with strict management of liabilities

As of 31 December 2019, the Group's net gearing ratio stood at 46.3%, a

year-on-year decrease of 3.3 percentage points and has remained lower than the

redline of 70% for the 12th year in a row. The Group's unused bank credit lines

totaled RMB316.79 billion (approx.US$44.7 billion).

Delivering generous, stable dividends for shareholders

An investment-grade blue-chip stock, Country Garden has maintained generous,

stable dividends for many years in an effort to give back to shareholders for

their ongoing support. The Group's basic earnings per share rose by 14.9% YoY

to RMB1.85 (US$0.27) for the year of 2019. Meanwhile, the Board recommended

payment of a final dividend of RMB34.25 cents (US$0.0048) per share, up 13.0%

YoY. Total annual dividends reached RMB57.12 cents (US$0.08) per share, up by

17.0% YoY.

Spearheading innovation in construction robotics and modern agriculture

Parallel to developing its property business, the Group has focused on the

research and development of robots since July 2018 with the Bright Dream

Robotics project, in a bid to increase safety and efficiency in complementary

industries such as construction and modern agriculture. To date, there are over

50 types of construction robots in the pipeline - 32 of which are already being

tested at construction sites. With 327 patents under their belt, the team now

hold proprietary core technologies in the key areas of application.

Country Garden have also adopted cutting-edge technologies and equipment for

modern agricultural production. In addition to using robot technology to build

advanced, unmanned farms, the Group have linked its farms directly to

community-based retail channels, reducing intermediaries across the supply

chain and decreasing transaction costs for farmers and consumers.

Combining urbanization initiatives with high-tech planning to deliver steady

long-term growth

Country Garden serves as an example of how an urbanization initiative can make

a company more competitive, and its growth has only strengthened the Group's

confidence in the future. Looking ahead, Country Garden will continue to

explore intelligent manufacturing and robotics, develop modern agricultural

production and cultivate community-based retail channels. In doing so, the

management team will further enhance the Group's competitiveness, while

maintaining the strategies that have served the company well and delivered

consistent returns for shareholders.

https://photos.prnasia.com/prnh/20200330/2763690-1 

SOURCE:Country Garden Holdings

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Caption: Country Garden Releases Financial Results for 2019