After 2018, the results broke 100 billion.
On March 23, Agile Group Holding Co., Ltd. announced its annual results for the year ended December 31, 2019.
Performance: 7.3% increase in turnover
In 2019, the Agile Group, together with its joint ventures, affiliates and real estate projects managed by the Group and sold under the Agile brand, totaled RMB 117.97 billion, an increase of 14.9% over last year, and the corresponding building area was 8.911 million square Meters, an increase of 11.7% over last year, with an average pre-sale price of RMB 13,240 per square meter.
In 2019, Agile Group’s turnover was 60.239 billion yuan, an increase of 7.3% over last year. Among them, property development confirmed sales revenue of RMB54.177 billion, an increase of 3.2% over last year. Property development revenue and diversified business revenue accounted for 89.9% and 10.1%, of which the revenue from diversified business increased by 3.6 percentage points compared with last year.
In 2019, Agile Group’s overall gross margin and net profit were 30.5% and 15.3%, which were 13.4 percentage points lower and 0.4 percentage points higher than last year, respectively.
In 2019, property management services, hotel operations and environmental protection revenues increased by 67.7%, 11.1%, and 146.1%, respectively, compared with last year.
Soil storage: 10 new cities opened
In 2019, Agile Group has added 42 new projects through bidding, auction, listing, land attachment and equity acquisition. The amount is RMB 47.2 billion, and the corresponding floor price is RMB 4334 per square meter.
As of December 31, 2019, the Group has land reserves in an estimated total construction area of 39.7 million square meters in 75 cities. Yixing and Phnom Penh, Cambodia are new markets.
Property management: Yasheng’s net profit increased by 59.3%
In 2019, Agile Life Services Co., Ltd. (sale) turnover was RMB 5.127 billion, an increase of 51.8% over last year. Gross profit and net profit were RMB 1.883 billion and RMB 1.292 billion, respectively, an increase of 46.0% and 59.3% compared with last year. Gross profit margin and net profit margin were 36.7% and 25.2%, respectively, which were 1.5 percentage points lower and 1.2 percentage points higher than last year. Profit attributable to shareholders was RMB 1.231 billion, which was a year-on-year increase of 53.7%. Basic earnings per share were RMB 0.92.
In addition, Agile Annual Report stated that the Group has optimized its debt structure during 2019, including the issuance of US $ 500 million 6.7% senior notes due in 2022 and US $ 1.4 billion in perpetual perpetual capital securities. A 24-month fixed-term loan of 1.854 billion patacas and a 36-month fixed-term loan including two amounts of HK $ 1.17 billion and US $ 100 million (with an additional right of US $ 500 million or equivalent Hong Kong dollar increments)
As of December 31, 2019, Agile Group’s total cash and bank deposits were RMB 42.555 billion.