China Res Land (1109) recorded a consolidated revenue of RMB 121.9 billion last year, up by 18.9% year-on-year. Core profit RMB 19.3 billion, up by 17.8% year-on-year, with core earnings per share amounted to RMB 2.78. Net profit RMB 24.24 billion, increased by 23.1% year-on-year, with earnings per share amounted to RMB 3.5. Final dividend RMB 0.949 per share.

The company last year’s consolidated gross profit margin was 43.4%, up by 3.2 percentage point year-on-year. Development property gross profit margin increased 3.2 percentage point year-on-year, to 42.9%. Investment property (including hotel operations) gross profit margin rose 4.5 percentage point year-on-year, to 65.9%.

The company’s development property turnover last year was RMB 105.15 billion, up by 17.5% year-on-year. Turnover from investment properties achieved a year-on-year growth of 24.5% to RMB 9.52 billion. Turnover from office business amounted to RMB 1.24 billion and turnover from hotel business amounted to RMB 1.43 billion, up 29.9%, 15.3% and 10.2% year-on-year respectively.

The company acquired 103 new projects with total land premium of RMB 151.4 billion. As at the end of last year, the company had a land bank with a total GFA of 59.57 million square meters, of which 50.14 million square meters were for development properties and 9.43 million square meters were for investment properties, with 70 cities involved. Land bank GFA in tier 1, 2 cities and tier 3 cities with industrial support accounted for 83.0% of total.