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China Overseas Property Holdings Limited Announces Interim Results for 2021

Date: 2021-08-17|Source: China Overseas Property Holdings Limited

(Hong Kong, 17 August 2021) China Overseas Property Holdings Limited (hereinafter referred to as "China Overseas Property" or "the Group", HKSE code: 02669.HK) is pleased to announce its unaudited interim results for the six months ended 30 June 2021.

During the six months ended 30 June 2021, the gross floor area ("GFA") under our management increased by 45.4million sq.m. or 24.3%to 232.5million sq.m. from 187.1 million sq.m.*at the last year end, in which, 82.1% of the new jobs was secured from independent third-parties. Residential projects and non-residential projects accounted for 30.1% and 69.9%of the new orders respectively, with corresponding contract sums amounting to HK$1,091.0million and HK$831.5million respectively. Meanwhile, the renewed property management contract sums in the first half of 2021 was HK$1,408.8million. The portion of GFA under management from independent third-parties at period end increased to 26.2% (At 31 December 2020: 12.6% *); Revenue increased by 50.7% to HK$4,295.6 million, comparing to HK$2,850.1million in the last corresponding period. Operating profit rose by 39.1% during the first half of 2021 against last corresponding period to HK$545.3 million (2020: HK$392.1 million); Profit attributable to shareholders of the Company for the six months ended 30June 2021increased by 40.4% to HK$393.1 million against the last corresponding period (2020: HK$280.0million).Basic and diluted earnings per share was HK11.96cents(2020: HK8.52cents), representing an increase of 40.4%.Average return on equity was 34.3%(2020: 35.1%); The Board declared the payment of an interim dividend of HK[X]cents per share (2020: HK2.2centsper share) for the six months ended 30 June2021.

2021 is the inception year of the Group's "14th Five-Year strategic plan". With the corporate vision of "To be an Outstanding Global Service Provider in Asset Management" and the corporate mission of "We manage Happiness", COPL adheres to the service promise of "Property Assets to be Entrusted" while leading a new journey with "1155" strategic objectives and measures: Having the goal of revitalising the "No.1 Butler" gilded signboard, we continue to define industry standards and strive to become the leading brand in the industry. We pursue sustainable, balanced, healthy and quality development and regard it as "One Core", and build "Five Benchmarks", including customer satisfaction benchmark, city and property project benchmark, operational results growth benchmark, sub-brand benchmark, and employee market value and team capability benchmark, as well as aim for "Brilliance in Five Competences", in respect of service, product, market, technology and organisation. We insist on consolidating our existing strengths in the basic services of core stream business to penetrate well into and cultivate existing markets, building a moat mechanism, vigorously incubating innovative businesses, and continuing to actively explore external expanding markets. We also make use of technology-enabled digitalisation and intelligent transformation to facilitate a high quality and diversified upgrade on our property management services business, so as to meet our customers' ever-increasing demand for a wonderful living condition. As an avant-garde in the property management industry in the People's Republic of China ("PRC" or "China") with first-class qualifications, the Group started its property management service in Hong Kong in 1986, with over 30 years of cultivation in Hong Kong and Macau. We set foot in Mainland China in 1991. The Group fully integrates the property management experiences in Hong Kong into the practical situation in Mainland China. The Group firmly believes in "Quality and Enthusiasm", which has guided us through the years and will direct our future development. We adhere to the brand concept of "Building Happiness and Leading the Trend" to reflect the enterprise value, the enterprise spirit of "Progress Whole-heartedly Each Day" to attain well-rounded improvement in capabilities, the core value of "Customer-Orientation, guaranteed quality and value creation" to fulfill our mission and move towards our vision. In this period of uncertainty and rapid changes in the external environment, we stay true to our mission and implement prudent measures with perseverance. We are committed to achieving long-term sustainable and steady growth for our shareholders by cultivating the quality of our services and seeking win-win cooperation.

*Note: Since 2021, the GFA under our management is re-defined generally only to include all full services, comprehensive property management projects, and the corresponding area under our management at last year end was restated accordingly.