Recently, the Hong Kong-listed real estate company CIFI Holdings Group Co., Ltd. (HK:00884, hereinafter referred to as "CIFI" or "CIFI Holdings Group") issued a performance announcement stating that in December 2020, it achieved sales of 30.98 billion yuan. The annual sales volume was 231 billion yuan, a year-on-year increase of 15%.
It is understood that CIFI Holdings Group achieved contract sales of RMB 200.6 billion in 2019. Earlier, the senior executives of the Xuhui Holding Group set a sales target of 230 billion yuan for the company in 2020. This also means that it has exceeded the expected target in 2020.
Contract sales have skyrocketed year after year
According to the announcement, in 2020, CIFI Holdings Group will achieve a sales area of 15.3851 million square meters, with an average price of 15,000 yuan per square meter. Among them, the sales volume in December was 30.98 billion yuan, the sales area was about 2.2043 million square meters, and the average price was 14,100 yuan per square meter.
According to data released by the third-party research organization China Index China Index Research Institute, CIFI Holdings Group currently ranks 15th in the sales list of domestic real estate companies, down one place from 2019.
Previously, Lin Zhong, chairman of the board of directors of CIFI Holding Group, had said that although the epidemic had some impact on sales in February and March, he was confident that the impact of the epidemic would be minimized. Lin Zhong said, "We are still very confident in completing the 230 billion target, and our internal target is higher than 230 billion."
Forest
The data shows that the amount of contracted sales of CIFI Holdings Group is increasing year by year. From 2012 to 2016, its contracted sales were 9.544 billion yuan, 15.319 billion yuan, 21.206 billion yuan, 30.209 billion yuan, and 53.02 billion yuan.
Since 2017, the contracted sales scale of CIFI Holdings Group has begun to soar. In 2017, CIFI Holding Group’s contracted sales exceeded 100 billion yuan for the first time, reaching 104 billion yuan. In 2018, CIFI Holding Group’s contracted sales amounted to RMB 200.6 billion, which was double that of 2017.
In terms of performance, the financial report released by CIFI Holdings Group shows that its operating income in 2019 increased by 29% year-on-year to 54.766 billion yuan; net profit was 6.903 billion yuan, a year-on-year increase of 24.7%; gross profit margin was 30%, and core net profit margin was 12.6 %.
In the first half of 2020, CIFI Holdings Group has confirmed revenue of approximately 23.02 billion yuan, an increase of 11.3% year-on-year; net profit increased by 11.2% year-on-year to approximately 3.194 billion yuan, with a core net profit margin of 13.9%. During the reporting period, its contracted sales amount was approximately 80.7 billion yuan.
Subsidiary company was notified for violation
It is also understood that CIFI Holding Group announced on January 7, 2021 that it intends to establish a 65:35 joint venture with its partner Zhangtai Group to expand its commercial and residential real estate development business in Guangxi Zhuang Autonomous Region, China .
According to the introduction, Changtai Group has a total of 11 cities in Guangxi, and its full-caliber and equity sales in the first half of 2020 rank first in the Guangxi market, with 10.65 billion yuan and 10 billion yuan respectively.
Changtai Group stated that its market share in Guilin is close to 40%. Lin Zhong said that CIFI Holding Group and Changtai Group have many complementarities in the regional layout. The cooperation between the two parties will help CIFI deepen the entire Guangxi province and consolidate the leading position of the platform company in Guangxi.
It is worth mentioning that CIFI Holdings Group has recently been named by the Beijing Municipal Commission of Housing and Urban-rural Development. Beduo Finance found that on January 8, the Beijing Municipal Commission of Housing and Urban-rural Development announced that it had investigated and dealt with a number of illegal activities in the real estate market. The real estate developers involved included Tahoe Group, Vanke, Greenland Holdings and CIFI Holdings.
According to the report, 18 companies including Beijing Deshun Fuxing Investment Co., Ltd. (hereinafter referred to as "Deshun Fuxing") were issued with notices of ordering corrections, and punishments were imposed by various means such as restrictions on online signing, interview warnings, and credit supervision. . Among them, the violation of Deshun Fuxing is that it does not implement the purchase restriction policy in the Jinghui Home Project.
Beduo Finance has learned that Deshun Fuxing’s controlling shareholder is Beijing Xuhui Enterprise Management Co., Ltd. (55% holdings) under CIFI Holdings Group, which is indirectly controlled by CIFI Holdings Group. In 2017, Deshun Fuxing was fined 18726.38 yuan by the Beijing Daxing District Housing and Construction Commission for violations.
The Beijing Municipal Commission of Housing and Urban-rural Development stated that it will conscientiously implement the main responsibility of the city, continue to strengthen the supervision of the real estate market, and maintain a high-pressure law enforcement situation against outstanding problems such as unlicensed house sales, contract fraud, and illegal use of pre-sale funds. Appeasement.
According to data, CIFI Holdings Group was established in 2000 and listed on the Hong Kong Stock Exchange in 2012. Its controlling shareholder is the Lin family represented by its founder Lin Zhong. Family members include Lin Zhong, Lin Wei, and Lin Feng. Among them, Lin Wei is the vice chairman of the board of directors of CIFI Holdings Group, and Lin Feng is the executive director and chief executive officer.