COVER - TodayIRlivewebcast.todayir.com/crland_17ir/ppt.pdfGrowing shopping mall portfolio with...

COVER

1

AGENDA

1H17 HIGHLIGHTS

FINANCIAL REVIEW

BUSINESS REVIEW

APPENDIX

http://www.crland.com.hk/ CR Land Results 1H2017 2

High

lights

Finan

cial Review

Bu

siness R

eviewA

pp

end

ix


1H17 HIGHLIGHTS

High

lights

Finan

cial Review

Bu

siness R

eviewA

pp

end

ix

1H17 Results Highlights


Further improved gross profit margin and DPS

Revenue HK$35.3 bn

Core net profitHK$3.3 bn

Interim DPS HK10.0 cents

21.0%

48.1%

8.7%

*YoY performance

Rental incomeHK$4.0 bn

Gross margin34.9%

Net gearing41.5%

13.2%

1.0 pt

17.7 pt

EPSHK73.8 cents

Contr. sales RMB63.2bn

33.1%

13.8%


FINANCIAL REVIEW

High

lights

Finan

cial Review

Bu

siness R

eviewA

pp

end

ix

Income Statement

(HK$ mn) 1H17 1H16 Change

Turnover 35,259 44,624 -21.0%

Development 29,087 39,242 -25.9%

Investment Property 4,013 3,545 13.2%

Gross Profit 12,316 15,105 -18.5%

Development 9,599 12,752 -24.7%

Investment Property 2,498 2,162 15.5%

Gross Profit Margin 34.9% 33.9% 1.0pt

Development 33.0% 32.5% 0.5pt

Investment Property 62.3% 61.0% 1.3pt

IP (excluding hotel) 70.2% 67.7% 2.5pt

Attributable Net Profit 5,112 7,647 -33.1%

Core Profit 3,253 6,267 -48.1%

Core Net Profit Margin 9.2% 14.0% -4.8pt

Net Profit Margin 14.5% 17.1% -2.6pt

EPS - Basic (HK cents) 73.8 110.3 -33.1%

EPS - Fully Diluted (HK cents) 73.8 110.3 -33.1%

DPS (HK cents) 10.0 9.2 8.7%


Sustainable margin expansion

11,943

15,105

12,316

32.2%

33.9%

34.9%

30%

31%

32%

33%

34%

35%

36%

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

1H15 1H16 1H17

Gross Profit (HK$ mn)/GP Margin

8.7 9.210.0

2.4%

5.7%

8.7%

0%

2%

4%

6%

8%

10%

0

2

4

6

8

10

12

1H15 1H16 1H17

DPS (HK$ cents)/DPS Growth Rate

Balance Sheet Highlights

(HK$ mn) 1H17 FY16 Change

Cash and cash equivalents 45,176 46,674 -3.2%

Total debt 105,754 79,751 32.6%

Net debt 60,578 33,077 83.1%

Total equity 146,136 139,159 5.0%

Total capitalization 251,890 218,910 15.1%

Total debt/ capitalization 42.0% 36.4% 5.6pt

Net debt/ equity 41.5% 23.8% 17.7pt


Leverage flexible balance sheet to support sustainable growth

41.0%43.5%

36.8% 36.4%

42.0%

0%

10%

20%

30%

40%

50%

2013 2014 2015 2016 1H17

Total Debt / Capitalization

39.2% 38.7%

22.6% 23.8%

41.5%

0%

10%

20%

30%

40%

50%

2013 2014 2015 2016 1H17

Net Debt / Equity

Balance Sheet Highlights


Diversified financing channels supporting sector low funding cost

• Average funding cost lowered to 4.13%.

Rating Agency CRL’s Credit Rating Outlook

BBB+ Stable

Baa1 Stable

BBB+ Stable

AAA Stable

4.63%

4.29% 4.23% 4.13%

2.0%

2.5%

3.0%

3.5%

4.0%

4.5%

5.0%

FY15 1H16 FY16 1H17

Average Funding Cost(HK$ mn) 1H17 1H16 YoY Change

Total Interest 2,362 2,205 7%

Bank Charges 72 94 -23%

Less: Capitalisation (1,708) (1,779) -4%

Exchange loss/ (gain) 884 (266) -432%

Finance Costs on P/L 1,611 253 536%

84,567

48,444

28,261

21,187

57,310

77,493

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Bank Loans vs. Bonds Fixed rate vs. Floatingrate

Non-RMB vs. RMB

Total Debt Breakdown (HK$ mn)

Debt Profile / Decomposition


Optimized debt profile with reduced FX risk

Bond

Fixed Rate

Floating Rate

Non-RMB

RMB

Bank Loans

20%

80%

54%

46%

73%

27%

64%

46%

31%27%

20%

30%

40%

50%

60%

70%

FY14 FY15 FY16 1H17

Non-RMB Percentage

1,636

19,867

5,098 7,453

1,137

4,295

898

5,491 3,491 3,490 2,469

417

7,924

8,026

14,953

6,500

3,546 -

-

5,528

- -- 3,535

-

5,000

10,000

15,000

20,000

25,000

30,000

2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028~

Debt Maturity Profile (HK$ mn)

Onshore Offshore


BUSINESS REVIEW

High

lights

Finan

cial Review

Bu

siness R

eviewA

pp

end

ix


DP Revenue in 1H17Unbalance delivery between 1H and 2H

12,579

24,985 32,827

39,153 29,087

64,818

81,759

94,019 98,727

-

20,000

40,000

60,000

80,000

100,000

120,000

2013 2014 2015 2016 2017

Development Revenue (HK$ mn)

10,902 10,790

11,719

10,347

9,500

10,000

10,500

11,000

11,500

12,000

2014 2015 2016 1H17

Booking ASP (RMB per sqm)

19% 31% 35% 40%

81% 69% 65% 60%

0%

20%

40%

60%

80%

100%

2013 2014 2015 2016

DP Revenue Split between 1H&2H

2H

1H

18% 16%26% 18%

64% 70% 54% 64%

18% 14% 20% 18%

0%

20%

40%

60%

80%

100%

2014 2015 2016 1H17

Revenue Breakdown by City Tier

Tier 1 Tier 2 Tier 3


Contracted Sales in 1H17

33,787 25,564

37,000

55,571 63,219 66,306 69,210

85,150

108,046

-

20,000

40,000

60,000

80,000

100,000

120,000

2013 2014 2015 2016 2017

Contracted Sales (RMB mn)

2.9 2.3

3.34.3 4.4

5.8 6.6 6.8

7.8

0

2

4

6

8

10

2013 2014 2015 2016 2017

Contracted GFA (mn sqm)

10,485

12,599

13,924 14,474

10,000

11,000

12,000

13,000

14,000

15,000

2014 2015 2016 1H17

ASP (RMB per sqm)

18%36% 37% 31%

64%

54% 52%53%

18% 11% 11% 16%

0%

20%

40%

60%

80%

100%

2014 2015 2016 1H17

Contracted Sales Breakdown by City Tier

Tier 1 Tier 2 Tier 3

IP Business Overview


Largest commercial IP portfolio in PRC among listed companies

53,258

72,370 72,617 73,528 81,785

25,982

17,180 22,524 16,754

24,486

-

20,000

40,000

60,000

80,000

100,000

120,000

FY14 FY15 FY16 16H 17H

IP Total Fair Value (HK$ mn)

Investment properties under construction

Completed investment properties

Commercial57%

Office 7%

Hotel7%

Others29%

IP GFA Breakdown of by Asset Class (sqm mn)

Commercial Office Hotel Others

IP Overall Financial Review


Fast growing recurrent income with margin expansion

5,482 6,685 7,252 3,545 4,013

6.1% 6.4% 6.6%7.9%

11.4%

0%

2%

4%

6%

8%

10%

12%

0

2,000

4,000

6,000

8,000

2014 2015 2016 1H16 1H17

IP Income and % of Total Revenue (HK$ mn)

IP income IP income as % of total revenue

3,398 3,986 4,398 2,162 2,498

12.4% 12.3% 11.9%14.3%

20.3%

0%

5%

10%

15%

20%

25%

0

1,000

2,000

3,000

4,000

5,000

2014 2015 2016 1H16 1H17

IP Gross Profit and % of Total GP (HK$ mn)

IP GP IP GP as % of total GP

62.0%

71.5%

59.6%

66.9%

60.6%

67.7%

61.0%

67.7%

62.3%

70.2%

50%

55%

60%

65%

70%

75%

IP (Including Hotel) GP Margin IP (Excluding Hotel) GP Margin

IP GP Margin

2014 2015 2016 1H16 1H17

16,101

20,909

27,188

12,256

16,305

0

5,000

10,000

15,000

20,000

25,000

30,000

2014 2015 2016 1H16* 1H17*

Retail Sales (RMB mn)

33%

*Exclude Shanghai Time Square

13% 16%

IP Performance – Shopping Mall


Growing shopping mall portfolio with sector high occupancy

Investment PropertiesRental Income (RMB mn) Average Occupancy Rate (%)

1H17 1H16 YoY 1H17 1H16 ChangeShenzhen Mixc 468 421 11% 99.2% 98.3% 0.9ptHangzhou Mixc 224 218 3% 92.6% 94.6% -2.0ptShenyang Mixc 254 204 25% 99.1% 93.8% 5.3ptChengdu Mixc 125 91 37% 96.0% 96.1% -0.1ptNanning Mixc 240 209 15% 99.5% 99.4% 0.1ptZhengzhou Mixc 43 43 0% 80.5% 87.9% -7.4ptChongqing Mixc 114 91 25% 92.0% 92.5% -0.5ptWuxi Mixc 54 48 13% 85.2% 76.7% 8.5ptQingdao Mixc 153 107 43% 90.8% 91.1% -0.3ptHefei Mixc 91 71 28% 96.0% 92.6% 3.4ptGanzhou Mixc 51 48 6% 96.2% 98.6% -2.4ptWenzhou Mixc 83 32 159% 86.5% 81.6% 4.9ptXi'an Xixian Mixc 13 - - 97.0% - -Beijing Phoenix Plaza 45 46 -2% 97.6% 98.4% -0.8ptBeijing Qinghe Hi5 124 120 3% 99.4% 100.0% -0.6ptHefei Shushan Hi5 16 14 14% 100.0% 98.2% 1.8ptNingbo Yuyao Hi5 30 26 15% 96.1% 90.7% 5.4ptShanghai Nanxiang Hi5 17 16 6% 98.4% 99.4% -1.0ptShandong Zibo Mixc One 57 45 27% 91.6% 90.0% 1.6ptShenyang Tiexi Mixc One 74 49 51% 95.3% 88.4% 6.9ptChangsha Xingsha Mixc One 26 19 37% 98.4% 99.0% -0.6ptShandong Rizhao Mixc One 29 - - 99.8% - -Total / Average for Commercial 2,331 1,918 22% 94.2% 92.7% 1.5pt

IP Financial Review for Malls – Opened before the End of 2012


Improving efficiency = stronger operational and financial performance

Shenzhen Mixc

7 Malls: 5 Mixc + 1 Mixc One + Beijing Phoenix Plaza.

Hangzhou Mixc

Chengdu Mixc

Nanning Mixc

Beijing Hi 5

1H17 1H16 YoY Change

Total Rental Income (RMB mn) 1,480 1,309 13%

Average Occupancy 97.6% 97.1% 0.5pt

Yield on Cost 31.5% 28.8% 2.7pt

Total Retail Sales (RMB mn) 10,227 8,055 27%

Shenyang Mixc

IP Financial Review for Malls – Opened in & after 2014


Ramping up new malls = big potential for growth

15 Malls: 8 Mixc + 7 Mixc One

Xi’an XixianMixc

1H17 1H16 YoY Change

Total Rental Income (RMB mn) 851 609 40%

Average Occupancy 92.5% 90.2% 2.3pt

Yield on Cost 8.8% 8.6% 0.2pt

Total Retail Sales (RMB mn) 6,078 4,201 45%

Xi'an Xixian Mixc Performance on Opening Day2017/4/21

Total Retail Sales (RMB mn) 6.02

Foot Traffic ('000) 176

Traffic Volume 3,000

Opening Rate 90%

IP New Malls in Pipeline


2H17-2019

2019 Guilin Ningbo ShijiazhuangShenzhen Qianhai

SuzhouShandong

LinyiHefei

LuyangHarbin

Jiangsu Kunshan 44 5.5

Taiyuan Jinan XiamenGuangxi Liuzhou

Shenzhen Nanshan

Nantong ChongqingHangzhou Xiaoshan 35 4.5

ShanghaiJiangsu Taizhou

ShenzhenBeijingMiyun 27 3.4

2018

2H17

1H17 23 2.8

No. of malls

Total GFA(mn sqm)

3 Mixc

6 Mixc

4 Mixc

2 Mixc One

5 Mixc One

1 Mixc One

Office & Hotel Financial Review


Investment PropertiesRental Income RMB mn Average Occupancy Rate %

1H17 1H16 % YoY 1H17 1H16 % YoY

Beijing CR Building 99 106 -7% 95.5% 96.1% -0.6pt

Shenzhen CR Building 77 69 12% 99.8% 100.0% -0.2pt

Shenyang CR Building 41 44 -7% 91.6% 93.0% -1.4pt

Chengdu CR Building 37 27 37% 86.1% 83.3% 2.8pt

Nanning CR Building 15 15 0% 80.9% 80.0% 0.9pt

Hangzhou CR Building 25 11 127% 66.4% 41.7% 24.7pt

Shanghai Times Square Office 45 59 -24% 79.2% 95.0% -15.7pt

Beijing Phoenix Plaza Office 138 143 -3% 94.4% 93.4% 1.0pt

Beijing Hi5 Office 10 10 0% 100.0% 100.0% 0.0pt

20 Gresham Street Office 13 - - 100.0% - -

Shenzhen Grand Hyatt Hotel 200 190 5% 86.1% 74.1% 12.0pt

Shimei Bay Le Meridien Hotel 33 31 6% 66.0% 64.1% 1.9pt

Shenyang Grand Hyatt Hotel 89 92 -3% 48.8% 40.4% 8.4pt

Dalian Grand Hyatt Hotel 84 68 24% 47.3% 37.3% 9.9pt

Xiaojing Bay Le Meridien Hotel 30 - - 51.8% - -

Zibo Sheraton Hotel 27 - - 37.1% - -

Hangzhou Park Hyatt 76 - - 54.6% - -

Total / Average for Office 500 484 3% 87.6% 85.9% 1.7pt

Total / Average for Hotel 539 381 41% 58.0% 55.2% 2.9pt

12%

63%

25% Tier 1

Tier 2

Tier 3

Land Bank


Development Property as of 30 Jun 2017 – 40.40 mn sqm GFA vs. 38.08 mn sqm GFA as of 31 Dec 2016

North China Region: 7.1 mn sqm, 17.6%

East China Region: 7.3 mn sqm, 18.1%

South China Region: 10.0mn sqm, 24.7%

Northeast China Region: 3.5 mn sqm, 8.5%

West China Region: 7.9 mn sqm, 19.5%

Central China Region: 4.6 mn sqm, 11.4%

DP Land Bank Breakdown by City Tier

FY161H17

11%

64%

25%

Land Bank


Investment Property as of 30 Jun 2017 – 7.45 mn sqm GFA vs. 6.77 mn sqm GFA as of 31 Dec 2016

South China Region: 2.49mn sqm, 33.4%

West China Region: 0.59 mn sqm, 7.9%

Central China Region: 0.45 mn sqm, 6.0%

IP Land Bank Breakdown by City Tier

FY161H17

North China Region: 1.99 mn sqm, 26.8%

East China Region: 1.55 mn sqm, 20.7%

Northeast China Region: 0.38 mn sqm, 5.1%

26%

51%

23%Tier 1

Tier 2

Tier 3

28%

51%

21%


APPENDIX

High

lights

Finan

cial Review

Bu

siness R

eviewA

pp

end

ix

Booking of Development Property Revenue in 1H17


No. ProjectsRevenue

(HK$ mn)

GFA

(sqm)

ASP Booked

(HK$/sqm)

Total: 29,087 2,473,928 11,757

1 Beijing Huazhong Garden 62 2,882 21,536

2 Beijing Others 38 1,561 24,626

3 Beijing Park Land 98 2,770 35,390

4 Beijing Dream Bay 5 161 29,864

5 Beijing Oak Bay 3,438 47,990 71,642

6 Qinhuangdao Oak Bay 28 3,602 7,836

7 Tianjin Oak Bay 150 11,867 12,624

8 Zhengzhou City Crossing 100 14,278 7,002

9 Tangshan Oak Bay 101 10,199 9,869

10 Qingdao City Crossing 681 26,406 25,806

11 Zibo Oak Bay 251 32,608 7,700

12 Zibo Central Park 77 7,752 9,963

13 Zibo The Arch 17 2,067 8,414

14 Zibo Mixc One Apartment 35 4,097 8,663

15 Jinan Central Park 119 10,325 11,570

16 Jinan CR City 2,098 234,831 8,936

17 Weihai City Crossing 444 44,687 9,941

18 Yantai City Crossing 5 2,532 2,115

19 Rizhao City Crossing 30 5,256 5,642

20 Rizhao CR Plaza 378 56,186 6,725


No. ProjectsRevenue

(HK$ mn)

GFA

(sqm)

ASP Booked

(HK$/sqm)

21 Linyi City Crossing 222 46,156 4,800

22 Shanghai Bound of Bund 962 9,012 106,758

23 Shanghai Central Park 358 23,431 15,258

24 Shanghai Oak Bay 49 870 56,304

25 Shanghai Eternal Palace 53 2,500 21,373

26 Changzhou Int'l Community 513 76,773 6,680

27 Hangzhou Foothill Palace 418 21,045 19,874

28 Hangzhou MIXc Residence 48 1,855 26,095

29 Nanjign Top Mansion 7 268 25,705

30 Nanjing Int'l Community 2,359 132,866 17,751

31 Nantong City Crossing 241 35,017 6,888

32 Nantong Oak Bay 128 13,778 9,261

33 Ningbo Central Park -6 641 -9,437

34 Ningbo CR Plaza 5 869 5,641

35 Suzhou Int'l Community 63 8,905 7,112

36 Suzhou Oak Bay 187 11,640 16,023

37 Suzhou The Arch 58 10,381 5,611

38 Suzhou The Bound of Kunyu 523 22,878 22,860

39 Taizhou Int'l Community 562 78,787 7,131

40 Wenzhou Top Mansion 108 7,400 14,622




No. ProjectsRevenue

(HK$ mn)

GFA

(sqm)

ASP Booked

(HK$/sqm)

41 Wuxi CR Int'l Community 137 17,375 7,857

42 Wuxi Top Mansion 53 3,032 17,637

43 Wuxi Oak Bay 72 14,955 4,836

44 Xuzhou Top Mansion 49 4,152 11,759

45 Xuzhou Oak Bay 935 123,601 7,569

46 Yangzhou Oak Bay 2 209 8,144

47 Yancheng Oak Bay 19 3,167 5,866

48 Shenyang City Crossing 23 1,422 15,933

49 Shenyang The Arch 5 499 10,754

50 Shenyang CR Plaza 58 6,824 8,551

51 Shenyang Huanggu CR Plaza 338 39,972 8,452

52 Shenyang Bound of Mukden 18 3,232 5,699

53 Shenyang Oak Bay 229 39,833 5,752

54 Shenyang Park Lane Manor 15 2,255 6,780

55 Shenyang Central Park 452 29,897 15,105

56 Harbin Fun Square 1 384 3,325

57 Harbin The Arch 16 3,656 4,271

58 Dalian Koala Community 16 2,980 5,334

59 Dalian Maritime 66 8,010 8,271

60 Dalian CR Plaza 1,965 143,629 13,678



No. ProjectsRevenue

(HK$ mn)

GFA

(sqm)

ASP Booked

(HK$/sqm)

61 Dalian Oriental Xanadu 28 1,171 24,316

62 Changchun Oak Bay 32 3,398 9,527

63 Changchun The Arch 113 12,383 9,143

64 Anshan Oak Bay 41 7,150 5,770

65 Anshan Park Lane Manor 10 864 11,147

66 Shen Zhen CR City 70 906 77,075

67 Shen Zhen Yinhu Blue Mountain 39 528 74,247

68 Huizhou Xiaojing Bay Garden 160 5,595 28,632

69 Nanning Park Lane Manor 614 24,189 25,392

70 Liuzhou The Arch 4 303 12,172

71 Hainan Shimei Bay Palace 425 17,625 24,109

72 Fuzhou Oak Bay 17 2,185 7,559

73 Xiamen Oak Bay 39 2,531 15,211

74 Chengdu Twenty-Four City 196 12,346 15,840

75 Chengdu Ginkgo Park 10 2,800 3,465

76 Chengdu Oak Bay 72 25,381 2,853

77 Chengdu Phoenix City 26 8,164 3,186

78 Chengdu Jinyue Bay 97 4,666 20,890

79 Chengdu CR Int'l Community 63 4,696 13,456

80 Chengdu Emerald Forest 93 10,997 8,490



No. ProjectsRevenue

(HK$ mn)

GFA

(sqm)

ASP Booked

(HK$/sqm)

81 Chengdu Triumphant Plaza 30 3,525 8,606

82 Chengdu Park Lane Manor 89 15,191 5,886

83 Chengdu Jade City 173 18,420 9,416

84 Mianyang Central Park 233 54,042 4,319

85 Xi'an Twenty-Four City 15 1,223 12,531

86 Xi'an Mixc Residential 183 25,893 7,074

87 Guiyang CR Int'l Community 547 107,356 5,096

88 Kunming Central Park 211 26,977 7,834

89 Chongqing Twenty-Four City 1,460 126,682 11,525

90 Chongqing Central Park 42 15,300 2,724

91 Chongqing Triumphant Plaza 721 93,838 7,684

92 Wuhan Oak Bay 37 4,354 8,395

93 Wuhan Central Park 13 1,755 7,673

94 Wuhan Palace Glorious 18 3,191 5,687

95 Wuhan Xanadu 506 46,818 10,809

96 Wuhan Landmark Residence 2 275 8,813

97 Hefei Oak Bay 39 13,448 2,869

98 Hefei Xiyun Manor 30 6,783 4,361

99 Hefei Park Lane Manor 23 3,224 7,201

100 Hefei Xanadu 896 88,136 10,171



No. ProjectsRevenue

(HK$ mn)

GFA

(sqm)

ASP Booked

(HK$/sqm)

101 Hefei French Annecy 0 141 1,855

102 Hefei Palace Glorious 5 600 7,843

103 Hefei City Crossing 1,371 102,978 13,313

104 Changsha Phoenix City 40 8,948 4,416

105 Changsha CR Plaza 179 22,129 8,069

106 Changsha Oak Bay 59 10,054 5,902

107 Nanchang Oak Bay 4 293 12,327

108 Ganzhou City Crossing 401 44,414 9,018

109 Car Park Commercial 125 3,849 32,487



No. Project

Gross Sales

in 1H17

(RMB mn)

Gross GFA

Sold (sqm)

ASP in 1H17

(RMB/sqm)

ASP in 1H16

(RMB/sqm)Change

Total 63,218 4,367,625 14,474 13,973 4%

Attributable 54,886 3,889,331 0%

North China Region 13,946 856,368 16,284 16,565 -2%

1 Beijing Oak Bay 764 9,890 77,290 73,460 5%

2 Beijing Positano Vita 499 12,826 38,943 30,296 29%

3 Beijing Park Land 112 3,266 34,161 40,736 -16%

4 Beijing Others 2 200 8,619 11,595 -26%

5 Beijing Miyun Oak Bay 90 4,088 22,033 19,626 12%

6 Beijing Dream Bay 1,379 37,407 36,869 33,269 11%

7 Beijing Crown Land 24 1,140 20,629 21,090 -2%

8 Beijing CR City 2,286 30,996 73,763 30,491 142%

9 Jinan Central Park 1,766 142,354 12,409 10,885 14%

10 Jinan City Crossing 1,002 74,611 13,436 13,747 -2%

11 Qingdao City Crossing 1,320 54,878 24,048 25,100 -4%

12 Shijiazhuang City Crossing 1,034 64,618 16,000 12,632 27%

13 Tianjing Oak Bay 287 19,863 14,474 10,898 33%

14 Taiyuan Park Lane Manor 214 19,773 10,799 10,173 6%

15 Taiyuan City Crossing 1,201 109,861 10,936 9,050 21%

16 Zibo The Arch 35 4,156 8,519 5,141 66%

17 Zhengzhou City Crossing 263 27,648 9,504 13,801 -31%

18 Rizhao City Crossing 70 12,634 5,544 7,267 -24%

19 Linyi City Crossing 364 78,320 4,647 5,167 -10%

20 Rizhao CR Plaza 115 20,731 5,563 6,590 -16%



No. Project

Gross Sales

in 1H17

(RMB mn)

Gross GFA

Sold (sqm)

ASP in 1H17

(RMB/sqm)

ASP in 1H16

(RMB/sqm)Change

21 Weihai City Crossing 980 111,874 8,763 8,474 3%

22 Yantai City Crossing 137 15,235 8,963 7,788 15%

23 East China Region 13,653 858,057 15,911 15,884 0%

24 Changzhou Int'l Community 1,147 128,434 8,932 7,884 13%

25 Hangzhou Foothill Palace 551 25,954 21,222 19,091 11%

26 Hangzhou MIXc Residence 773 53,347 14,488 12,329 18%

27 Ningbo Tuscany Lake Valley 101 5,066 19,864 16,314 22%

28 Ningbo Top Mansion 711 24,646 28,846 - -

29 Nanjing Top Mansion 187 4,448 42,072 30,539 38%

30 Nanjing Int'l Community 111 2,621 42,448 24,168 76%

31 Nanjing Park Lane Manor 812 41,819 19,419 17,766 9%

32 Nantong City Crossing 589 57,449 10,248 7,332 40%

33 Nantong Oak Bay 66 12,210 5,405 6,761 -20%

34 Shanghai Jing'an Prime Land 1,570 17,360 90,455 85,607 6%

35 Shanghai The Bound of Bund 947 9,761 96,981 84,387 15%

36 Shanghai Oak Bay 36 902 39,537 31,074 27%

37 Shanghai Central Park 361 24,031 15,037 38,728 -61%

38 Shanghai Eternal Palace 156 4,902 31,798 28,139 13%

39 Shanghai Mixc Residential 700 29,212 23,962 35,775 -33%

40 Suzhou Oak Bay 203 12,729 15,970 14,582 10%



No. Project

Gross Sales

in 1H17

(RMB mn)

Gross GFA

Sold (sqm)

ASP in 1H17

(RMB/sqm)

ASP in 1H16

(RMB/sqm)Change

41 Suzhou The Bound of Kunyu 500 21,227 23,535 20,216 16%

42 Suzhou Int'l Community 561 30,517 18,381 14,958 23%

43 Suzhou The Arch 51 10,107 5,074 14,575 -65%

44 Suzhou Jinyue Bay 176 7,710 22,831 23,968 -5%

45 Suzhou Red Oak Mansion 811 45,097 17,994 16,806 7%

46 Taizhou Int'l Community 847 115,035 7,360 3,820 93%

47 Wuxi CR Int'l Community 147 11,581 12,709 10,184 25%

48 Wuxi Top Mansion 57 3,166 17,987 13,214 36%

49 Wuxi Oak Bay 475 53,114 8,944 7,649 17%

50 Xuzhou Top Mansion 144 14,372 10,022 10,029 0%

51 Xuzhou Oak Bay 592 61,982 9,548 7,265 31%

52 Xuzhou The Arch 258 24,676 10,469 8,393 25%

53 Yancheng Oak Bay 12 4,583 2,717 5,420 -50%

54 South China Region 15,789 541,664 29,148 27,195 7%

55 Fuzhou Oak Bay 56 8,225 6,762 10,777 -37%

56 Fuzhou Mixc Residential 62 2,872 21,625 18,484 17%

57 Fuzhou Palace Glorious 241 14,956 16,135 14,810 9%

58 Guilin Central Park 213 30,410 7,003 6,516 7%

59 Guangzhou Tianhe 2,467 57,101 43,198 39,507 9%

60 Hainan Shimei Bay Palace 973 40,949 23,767 15,552 53%



No. Project

Gross Sales

in 1H17

(RMB mn)

Gross GFA

Sold (sqm)

ASP in 1H17

(RMB/sqm)

ASP in 1H16

(RMB/sqm)Change

61 Haikou City Crossing 1,473 93,392 15,768 - -

62 Liuzhou The Arch 195 20,100 9,694 9,013 8%

63 Shantou City Crossing 818 45,578 17,951 15,320 17%

64 Shen Zhen CR City 2,616 30,537 85,668 65,284 31%

65 Shen Zhen Bay Top Mansion 3,871 26,464 146,276 118,828 23%

66 Shen Zhen Yinhu Blue Mountain 1,079 14,271 75,625 68,899 10%

67 Huizhou Xiaojing Bay Garden 237 9,021 26,236 12,728 106%

68 Xiamen Oak Bay 69 5,192 13,231 13,902 -5%

69 Nanning City Crossing 950 69,292 13,716 22,369 -39%

70 Nanning Twenty-Four City 469 73,304 6,397 7,432 -14%

71 West China Region 8,111 853,912 9,499 8,137 17%

72 Chengdu Jinyue Bay 1,196 72,516 16,494 15,415 7%

73 Chengdu Jade City 296 24,645 11,997 8,998 33%

74 Chengdu Twenty-Four City 1,171 99,652 11,754 9,343 26%

75 Chengdu Emerald Forest 95 10,953 8,681 7,522 15%

76 Chengdu Triumphant Plaza 24 3,382 7,238 10,286 -30%

77 Chengdu CR Int'l Community 472 54,203 8,710 5,913 47%

78 Chengdu Park Land 754 104,359 7,223 6,188 17%

79 Chengdu Time Lane 0 38 12,040 - -

80 Chongqing Twenty-Four City 1,378 105,013 13,121 10,562 24%



No. Project

Gross Sales

in 1H17

(RMB mn)

Gross GFA

Sold (sqm)

ASP in 1H17

(RMB/sqm)

ASP in 1H16

(RMB/sqm)Change

81 Chongqing Central Park 36 12,224 2,953 5,757 -49%

82 Chongqing The Arch 165 21,564 7,665 7,006 9%

83 Chongqing City Crossing 163 13,728 11,907 - -

84 Guiyang CR Int'l Community 852 98,443 8,651 6,778 28%

85 Kunming Central Park 214 29,485 7,269 7,423 -2%

86 Mianyang Central Park 466 89,791 5,190 4,653 12%

87 Xi'an Twenty-Four City 560 76,061 7,366 6,016 22%

88 Xi'an Mixc Residential 267 37,854 7,058 7,688 -8%

89 Northeast Region 3,590 400,209 8,970 8,716 3%

90 Dalian Maritime 803 76,438 10,504 11,552 -9%

91 Dalian Oriental Xanadu 52 3,286 15,863 22,112 -28%

92 Dalian CR Plaza 341 40,017 8,533 11,463 -26%

93 Shenyang City Crossing 139 4,290 32,378 16,466 97%

94 Shenyang Park Lane Manor 212 25,130 8,445 10,662 -21%

95 Shenyang Huanggu CR Plaza 94 10,147 9,229 8,904 4%

96 Shenyang Twenty-Four City 702 99,601 7,046 7,079 0%

97 Shenyang Crown Land 946 90,177 10,493 9,211 14%

98 Anshan Park Lane Manor 300 51,123 5,875 5,612 5%

99 Central China Region 4,579 429,678 10,658 7,766 37%

100 Hefei City Crossing 231 19,847 11,637 11,757 -1%



No. Project

Gross Sales

in 1H17

(RMB mn)

Gross GFA

Sold (sqm)

ASP in 1H17

(RMB/sqm)

ASP in 1H16

(RMB/sqm)Change

101 Hefei Oak Bay 26 13,472 1,966 4,137 -52%

102 Hefei Palace Glorious 17 6,324 2,760 4,937 -44%

103 Hefei Xanadu 519 29,225 17,753 10,448 70%

104 Changsha Oak Bay 30 7,707 3,873 5,704 -32%

105 Changsha CR Plaza 467 61,014 7,654 5,550 38%

106 Nanchang Palace Glorious 180 18,470 9,761 - -

107 Nanchang The Arch 80 3,535 22,642 9,618 135%

108 Wuhan Xanadu 476 48,088 9,900 - -

109 Wuhan Palace Glorious 12 5,174 2,231 4,105 -46%

110 Wuhan Jade City 2,058 165,210 12,460 10,572 18%

111 Ganzhou City Crossing 483 51,612 9,349 7,166 30%

112 Others 3,407 423,491 8,046 8,697 -7%

113 Car Park Commercial 144 4,246 33,798 23,263 45%

*Others：41 old projects with the stock less than 20,000sqm were group into Others. Region total subtract these projects.

Land Acquisition in 1H17


No. Month City Project Interest Total GFA Land

Premium

Attributable

Land Premium

AV

(Rmb/sqm)

(%) (sqm) (RMB mn) (RMB mn)

1 Jan Harbin Xiang Fang District No.8 Project 100% 72,900 334 334 4,582

2 Feb Changsha Yuhua District Project 100% 113,682 927 927 8,154

3 Feb Zhengzhou Huiji District No.248 Project 100% 42,000 208 208 4,952

4 Feb Shenyang Tiexi District Medicine Factory Project 100% 242,684 1,558 1,558 6,420

5 Mar Nanjing Jianye District Yuzui Plot 4% 864,000 7,340 294 8,495

6 Mar Jinan Lixia District CBD Project 89% 974,298 4,530 4,032 4,650

7 Mar Tianjin Beichen District Tianchong Project 100% 108,700 1,900 1,900 17,479

8 Mar Tangshan Fenghuang New City Plot A-01 100% 166,717 909 909 5,455

9 Mar Tangshan Fenghuang New City Plot B 100% 150,155 772 772 5,140

10 Mar Hefei Xinzhan District Dongfang Road Project 100% 190,300 1,474 1,474 7,748

11 Mar Hefei Xinzhan District Dazhong Road Project 100% 164,400 1,294 1,294 7,873

12 Mar Beijing Chaoyang District Jinzhan CBD Plot603 34% 92,332 2,250 765 24,369

13 Mar Tangshan Lunan District Nanxin Road Project 100% 95,550 452 452 4,730

14 Apr Lanzhou Hi-Tech District Qilihe Park Project 100% 353,309 1,592 1,592 4,505

15 May Chongqing Beibei District I Section Project 100% 231,838 715 715 3,084

16 May Ganzhou Hetao Old District Wenfeng Road Project 100% 59,634 242 242 4,061

17 May Beijing Lize CBD D07/08 Project 25% 160,000 4,340 1,085 27,125

18 May Nanning Xixiang Tang District Project 100% 412,100 1,434 1,434 3,479

19 May Hong Kong NOS.1,2,3 and 4 Chancery Lane, Central 100% 4,145 964 964 232,654

20 May Xuzhou Quanshan District Residential Project 100% 301,600 2,167 2,167 7,186

21 June Guangzhou Guanggang New City Project 218 17% 186,033 4,001 667 21,505

22 June Nanchang Honggutan District Zaoshan Road Project 21% 180,840 728 153 4,028

23 June Chongqing Ba’nan District Lijiatuo G Plot 100% 427,467 1,924 1,924 4,500

24 June Hangzhou Xiaoshan District Olympic Center Project 100% 177,617 1,596 1,596 8,986

Total: 5,772,301 43,652 27,458 7,562

Land Bank for DP as of 30 June 2017


No. Project Residential GFA (sqm) Interest Attributable GFA(sqm)

Total 40,405,408 n/a 34,968,705

1 North China Region 7,117,520 n/a 6,134,750

2 Beijing Miyun Oak Bay 58,560 97% 56,997

3 Beijing Positano Vita 85,060 100% 85,060

4 Beijing CR City 171,983 33% 56,754

5 Beijing Future Tech City Project 383,768 60% 230,261

6 Beijing Oak Bay 65,391 99% 64,447

7 Beijing Fengtai Yalin East Project 213,186 24% 51,165

8 Beijing Crown Land 104,359 26% 27,133

9 Beijing Chaoyang Jinzhan 608 Project 92,332 34% 92,332

10 Jinan CBD Project 787,408 89% 700,793

11 Jinan CR City 141,394 100% 141,394

12 Jinan City Crossing 237,539 100% 237,539

13 Linyi City Crossing 446,471 100% 446,471

14 Qingdao City Crossing 253,844 97% 247,066

15 Qingdao Liaoyang Road Project 598,695 65% 389,152

16 Rizhao City Crossing 111,910 100% 111,910

17 Rizhao CR Plaza 56,468 100% 56,468

18 Shijiazhuang City Crossing 76,960 100% 76,960

19 Taiyuan City Crossing 634,943 100% 634,943

20 Taiyuan Normal University Project 582,047 100% 582,047




21 Taiyuan Park Lane Manor 209,656 50% 104,828

22 Tangshan Phoenix New City East Project 192,399 100% 192,399

23 Tangshan Phoenix New City West Project 215,825 100% 215,825

24 Tangshan Oak Bay 101,457 100% 101,457

25 Tangshan Nanxin Road Project 93,131 100% 31,665

26 Tianjin Oak Bay 345,564 99% 345,564

27 Tian Beichen Gaofeng Road Project 107,600 100% 107,600

28 Weihai Bay 225,723 100% 225,723

29 Yantai City Crossing 28,439 100% 28,439

30 Zhengzhou 248 Plot Project 53,997 100% 53,997

31 Zhengzhou City Crossing 123,373 n/a 123,373

32 Zhengzhou Economic Development Zone Project 157,600 100% 157,600

33 Zibo City Crossing 48,825 100% 48,825

34 Zibo Oak Bay 27,015 100% 27,015

35 East China Region 7,310,027 n/a 5,459,305

36 Changzhou Int'l Community 541,087 100% 541,087

37 Hangzhou MIXc Residence 31,227 100% 31,227

38 Hangzhou Olympic Exhibition Centre Project 177,617 100% 177,617

39 Hangzhou Centre Project 45,400 45% 20,430

40 Nanjing Int'l Community 546,814 60% 328,088




41 Nanjing Park Lane Manor 55,086 100% 55,086

42 Nanjing Jianye District Project 560,000 4% 22,400

43 Nantong City Crossing 230,624 55% 126,843

44 Nantong Oak Bay 34,933 100% 34,933

45 Ningbo Eastern New City Project 100,730 100% 100,730

46 Ningbo Ouchi Station Project 113,712 51% 57,993

47 Ningbo Wantou Project 255,200 33% 84,216

48 Shanghai Eternal Palace 36,904 100% 36,904

49 Shanghai Tangqiao Project 185,200 30% 55,560

50 Shanghai The Bound of Bund 24,000 100% 24,000

51 Shanghai Mixc Residential 88,444 50% 44,222

52 Shanghai Oak Bay 32,859 100% 32,794

53 Shanghai Jing'an Prime Land(10#) 141,100 50% 70,550

54 Shanghai Jing'an Prime Land(9#) 221,272 50% 110,636

55 Shanghai Central Park 188,405 100% 188,405

56 Shanghai Su River Bay 82,000 50% 41,000

57 Suzhou Red Oak Mansion 24,318 100% 24,318

58 Suzhou Jinyue Bay 175,378 100% 175,378

59 Suzhou Kunshan CR Int'l Community 102,979 51% 52,519

60 Suzhou Ludang Road Project 355,700 100% 355,700




61 Suzhou Wujiang The Arch 314,252 50% 157,126

62 Suzhou Oak Bay 57,217 100% 57,217

63 Suzhou Chang’an Road Project 94,500 100% 94,500

64 Taizhou CR Int'l Community 341,031 100% 341,031

65 Wenzhou Binjiang Project 119,820 100% 119,820

66 Wuxi Taihu CR Int'l Community 119,800 60% 71,880

67 Wuxi Oak Bay 350,370 100% 350,370

68 Wuxi IKEA East Project 401,100 100% 401,100

69 Wuxi Top Mansion 156,400 100% 156,400

70 Xuzhou The Arch 138,575 50% 69,287

71 Xuzhou Oak Bay 158,371 100% 158,371

72 Xuzhou Top Mansion 75,518 100% 75,518

73 Yancheng Oak Bay 127,942 100% 127,942

74 Yangzhou Oak Bay 39,114 n/a 39,114

75 Xuzhou Quanshan District Xinxin North Road Project 377,500 100% 377,500

76 South China Region 9,960,809 n/a 8,166,423

77 Foshan The Light of New City 401,258 35% 140,440

78 Foshan New City Tengchong Village 332,982 35% 332,982

79 Fuzhou Honglu Project 380,866 100% 380,866

80 Fuzhou B&Q Project 312,022 70% 218,415




81 Fuzhou Mixc Residential 479,341 100% 479,341

82 Fuzhou Oak Bay 96,594 100% 96,594

83 Fuzhou Palace Glorious 117,995 100% 117,995

84 Guangzhou Tianhe 163,897 60% 163,897

85 Guangzhou Huijin Center 374,549 33% 124,875

86 Guangzhou Suihua Project 276,070 17% 45,993

87 Guangzhou CM Top Mansion 189,951 33% 62,684

88 Guangzhou Guanggang New City 218 Project 186,033 17% 31,626

89 Guilin City Crossing 355,381 100% 355,381

90 Haikou Longhua District Project 648,993 100% 648,993

91 Hainan Shimei Bay Palace 770,340 100% 770,340

92 Huizhou Xiaojing Bay Garden 1,364,749 65% 887,087

93 Liuzhou City Crossing 332,808 100% 332,808

94 Nanning Twenty-Four City 123,494 51% 62,982

95 Nanning City Crossing 143,169 55% 143,169

96 Nanning Zhongshan Road Project 232,446 50% 232,446

97 Nanning Xixiangtang District Nanmian Project 412,000 100% 412,000

98 Xiamen Oak Bay 34,506 100% 34,506

99 Shantou Ocean Bay 293,563 100% 293,563

100 Shantou City Crossing 214,376 51% 109,332




101 Shenzhen CR City 682,298 100% 682,298

102 Shenzhen Qianhai City Crossing 225,955 50% 225,955

103 Shenzhen Bay Top Mansion 115,675 n/a 115,675

104 Shenzhen Yinhu Blue Mountain 50,454 100% 15,136

105 Zhuhai Henqin Mixc World 649,045 30% 649,045

106 West China Region 7,876,933 n/a 7,694,402

107 Chengdu Emerald Forest 82,141 100% 82,141

108 Chengdu Twenty-Four City 614,927 100% 614,927

109 Chengdu Pheonix City 20,673 100% 20,673

110 Chengdu Park Land 372,512 51% 189,981

111 Chengdu CR Int'l Community 467,380 100% 467,380

112 Chengdu Jinyue Bay 186,050 100% 186,050

113 Chengdu Triumphant Plaza 41,595 100% 41,595

114 Chengdu Oak Bay 52,251 100% 52,251

115 Chengdu Park Lane Manor 30,830 100% 30,830

116 Guiyang CR Int'l Community 1,029,262 100% 1,029,262

117 Kunming Wuliduo Project 355,673 100% 355,673

118 Kunming Central Park 44,060 100% 44,060

119 Mianyang Central Park 277,344 100% 277,344

120 Chongqing Twenty-Four City 502,500 100% 502,500




121 Chongqing Triumphal Plaza 64,993 100% 64,993

122 Chongqing Mixc One 386,289 100% 386,289

123 Chongqing Central Park 42,589 100% 42,589

124 Chengdu City Crossing 41,540 100% 41,540

125 Chengdu Time Lane 193,779 100% 193,779

126 Chengdu Longwan Mansion 152,468 100% 152,468

127 Chongqing Liangjiang New District Project 729,314 100% 729,314

128 Chongqing Beibei District Project 310,100 100% 310,100

129 Chongqing Banan District Project 555,150 100% 555,150

130 Xi'an Twenty-Four City 857,400 100% 857,400

131 Lanzhou Hi-tech District Project 450,170 100% 450,170

132 Northeast Region 3,453,027 n/a 3,387,544

133 Anshan Park Lane Manor 162,296 100% 162,296

134 Dalian Twenty-Four City 717,605 100% 717,605

135 Dalian Maritime 143,782 100% 143,782

136 Dalian Kaola Community 24,199 60% 14,519

137 Dalian CR Plaza 105,695 60% 63,417

138 Dalian Jinyue Bay 170,900 100% 170,900

139 Harbin Palace Glorious 85,534 100% 85,534

140 Harbin Central Park 247,745 100% 247,745




141 Shenyang Twenty-Four City 465,225 100% 465,225

142 Shenyang Huanggu CR Plaza 121,847 100% 121,847

143 Shenyang Oak Bay 42,936 100% 42,936

144 Shenyang Park Lane Manor 55,446 100% 55,446

145 Shenyang Crown Land 152,375 100% 152,375

146 Shenyang Jade City 208,700 n/a 208,700

147 Shenyang Tiexi District Project 243,668 100% 243,668

148 Changchun Palace Glorious 264,990 100% 264,990

149 Changchun Park Mansion 149,256 100% 149,256

150 Central China Region 4,596,898 n/a 4,067,466

151 Ganzhou City North Project 349,756 100% 349,756

152 Ganzhou City Crossing 131,074 55% 72,091

153 Ganzhou Oak Mansion 67,875 100% 67,875

154 Hefei City Crossing 105,327 100% 105,327

155 Hefei Xanadu 159,417 100% 159,417

156 Hefei Palace Glorious 40,613 100% 40,613

157 Hefei Oak Bay 29,529 100% 29,529

158 Hefei Park Lane Manor 566,768 100% 566,768

159 Nanchang Palace Glorious 138,694 100% 138,694

160 Nanchang Gezaoshan Project 180,840 21% 138,694




161 Wuhan Jade City 550,592 100% 550,592

162 Wuhan City Crossing 245,294 51% 125,100

163 Wuhan Xanadu 60,059 51% 30,630

164 Wuhan Kunyu Mansion 696,699 60% 418,019

165 Wuhan Palace Glorious 50,471 100% 50,471

166 Wuhan Jade Centre 358,746 100% 358,746

167 Changsha Pheonix City 38,762 100% 38,762

168 Changsha Shuguang South Project 137,611 100% 137,611

169 Changsha Oak Bay 24,394 100% 24,394

170 Changsha Landmark Residence 264,086 100% 264,086

171 Changsha Leifeng East Project 333,621 100% 333,621

172 Car Park Commercial 90,194 n/a 58,870

173 Others 345,564 51-100% 310,954

*Others：40 old projects with the stock less than 20,000sqm were group into Others.

Schedule for Bookable Area in 2017-2019


No. ProjectBookable Area (sqm)

2017E 2018E 2019E

1 Beijing Phoenix Plaza - 22,938 -

2 Beijing Park Land 3,390 - -

3 Beijing CR Hotel - 71,996 -

4 Beijing Dream Bay 79,373 - -

5 Beijing Manor Eight 32,738 - -

6 Beijing Lidu No.10 Project - 84,054 -

7 Beijing Miyun Oak Bay 239,235 56,931 -

8 Beijing Positano Vita 19,143 - 119,890

9 Beijing CR City - 169,617 -

10 Beijing Future Tech City Project - - 165,377

11 Beijing Oak Bay 131,922 26,601 16,554

12 Beijing Yalin West - 37,744 -

13 Jinan CR City 638,442 220,131 -

14 Jinan City Crossing - 659,453 -

15 Linyi City Crossing - 50,799 261,219

16 Qingdao City Crossing 122,931 - -

17 Rizhao City Crossing 26,884 - -

18 Rizhao CR Plaza 123,013 - -

19 Shijiazhuang City Crossing - 440,164 -

20 Taiyuan City Crossing 386,886 485,833 355,737




2017E 2018E 2019E

21 Taiyuan Park Lane Manor - - 121,305

22 Taiyuan Normal University Project - - 288,666

23 Tangshan Qinglong Road Project - - 99,951

24 Tangshan Oak Bay - - 30,832

25 Tianjin Oak Bay 133,044 108,781 117,539

26 Weihai Bay Palace 17,166 118,405 77,559

27 Yantai City Crossing 27,196 45,681 -

28 Zhengzhou City Crossing 24,444 20,177 55,003

29 Zhengzhou Jingkai Project - - 161,412

30 Zibo City Crossing - 29,323 -

31 Zibo Oak Bay 26,908 128,053 -

32 Zibo Central Park 6,647 59,895 4,048

33 North China Region 2,039,365 2,836,576 1,875,092

34 Changzhou Int'l Community 245,867 10,144 238,560

35 Hangzhou Mixc One - 320,513 -

36 Kunshan Int'l Community - 369,140 21,642

37 Nanjing Int'l Community 202,543 165,526 113,723

38 Nanjing Park Lane Manor 133,480 88,339 -

39 Nanjing Top Mansion 43,560 5,123 -

40 Nanjing CR Int'l Community 49,795 226,761 -




2017E 2018E 2019E

41 Nantong Oak Bay - 7,632 -

42 Ningbo Tuscany Lake Valley 42,363 - -

43 Ningbo Wantou Project - - 159,696

44 Ningbo MIXc - - 89,309

45 Ningbo MIXc Manor 48,658 - -

46 Shanghai Jing'an Prime Land - 127,125 105,027

47 Shanghai Eternal Palace 43,320 - -

48 Shanghai MIXc 219,557 - -

49 Suzhou Red Oak Mansion 134,305 - -

50 Suzhou Jinyue Bay 105,392 120,430 68,027

51 Suzhou The Arch 161,462 - 378,732

52 Suzhou Ludang Project - - 178,370

53 Suzhou Oak Bay - - 33,310

54 Suzhou Chang'an Project - - 133,711

55 Taizhou CR Int'l Community 215,360 - 300,923

56 Wuxi Taihu Int'l Community 2,267 - -

57 Wuxi Oak Bay 78,320 64,471 91,129

58 Wuxi IKEA East Project - 117,955 104,452

59 Wuxi Top Mansion - 20,705 12,713

60 Xuzhou The Arch 27,034 - 37,943




2017E 2018E 2019E

61 Xuzhou Oak Bay 235,418 136,316 48,199

62 Xuzhou Yunlong Lake Palace - 51,863 -

63 Yancheng Oak Bay 9,957 - 90,652

64 Yangzhou Oak Bay 3,710 - -

65 East China Region 2,002,369 1,832,042 2,206,118

66 Fuzhou City Crossing 51,172 16,480 64,260

67 Fuzhou Oak Bay - 4,554 1,893

68 Fuzhou Palace Glorious - 68,341 825

69 Guangzhou Tianhe Project 86,102 - -

70 Guilin City Crossing 107,488 94,181 333,783

71 Haikou City Crossing - - 359,825

72 Hainan Shimei Bay Palace 25,228 16,324 89,657

73 Liuzhou City Crossing - 195,500 146,000

74 Liuzhou The Arch 42,500 190,636 -

75 Nanning Twenty-Four City 241,290 239,390 -

76 Nanning City Crossing 13,256 - -

77 Nanning Nanmian Project - - 299,295

78 Xiamen City Crossing 100,000 216,914 49,999

79 Xiamen Oak Bay 77,943 - -

80 Shantou Ocean Bay - - 112,645




2017E 2018E 2019E

81 Shantou City Crossing - 230,527 -

82 Shenzhen CR City 461,948 377,278 88,657

83 Shenzhen Qianhai Project - 125,709 61,496

84 Shenzhen Bay Top Mansion - 502,781 137,620

85 Huizhou Xiaojing Bay Project - - 185,463

86 Shenzhen Blue Mountain 176,675 38,124 -

87 Zhuhai Hengqin Mixc World - - 136,726

88 South China Region 1,383,602 2,316,738 2,068,145

89 Chengdu Twenty-Four City - 374,808 408,029

90 Chengdu Jade City 3,455 - -

91 Chengdu Park Land - 269,176 -

92 Chengdu CR Int'l Community - - 412,550

93 Chengdu Jinyue Bay - 155,715 85,706

94 Chengdu Mulong Bay - - 158,060

95 Chengdu Zhonghe Project - - 213,868

96 Guiyang CR Int'l Community 295,501 284,170 -

97 Mianyan Central Park - 160,405 103,673

98 Xi'an Twenty-Four City 519,838 139,114 323,051

99 Chongqing Twenty-Four City 159,804 239,336 -

100 Chongqing The Arch 217,354 - -




2017E 2018E 2019E

101 Chongqing Mixc One - - 413,283

102 Chongqing Central Park 15,112 - -

103 West China Region 1,211,064 1,622,725 2,118,219

104 Anshan Oak Bay 2,654 22,691 -

105 Anshan Park Lane Manor 61,061 124,031 -

106 Dalian Mountain Land - - 81,057

107 Dalian Twenty-Four City - 97,674 388,708

108 Dalian Maritime 16,358 143,884 122,203

109 Dalian Kaola Community 136,589 - -

110 Dalian Oriental Xanadu 20,223 - -

111 Dalian CR Plaza 179,668 - 59,425

112 Harbin Fun Square - - 128,756

113 Harbin The Arch 102,283 - -

114 Harbin Songjiang Garden - 168,582 81,080

115 Shenyang The Bound of Mukden 99,258 - -

116 Shenyang Twenty-Four City - 287,977 275,083

117 Shenyang City Crossing 4,081 - -

118 Shenyang Huanggu CR Plaza 185,474 2,235 -

119 Shenyang Qingchengshan Project - - 132,618

120 Shenyang Crown Land - - 271,382




2017E 2018E 2019E

121 Shenyang Oak Bay 123,103 - -

122 Shenyang Park Lane Manor 67,416 - 57,530

123 Shenyang Central Park 73,940 - -

124 Changchun Juye Street Project - 100,119 74,579

125 Changchun The Arch 61,483 - -

126 Changchun Qianjin Street Project - - 119,502

127 Changchun Oak Bay - 50,584 -

128 Northeast Region 1,133,590 997,778 1,791,923

129 Ganzhou City Crossing 136,781 143,985 -

130 Hefei City Crossing 340,209 - 65,554

131 Hefei Xanadu 296,070 - -

132 Hefei Oak Bay - - 110,108

133 Nanchang The Arch 153,584 - -

134 Nanchang Oak Bay 775 - -

135 Nanchang Palace Glorious - 48,059 170,707

136 Wuhan Jade City - 339,152 -

137 Wuhan Wulidun Project - - 356,890

138 Wuhan Xanadu 107,830 - -

139 Changsha Landmark Residence 139,246 244,219 -

140 Central China Region 1,174,496 775,415 703,258

141 Tianjin Juhehua Car Park 4,108 3,424 -

142 Car Parks Commercial 4,108 3,424 -

Total 8,948,594 10,384,698 10,762,756

IP in Operation as of 30 June 2017


No. Project Asset Type GFA(sqm) InterestAttributable

GFA(sqm)

1 Shenzhen Mixc 323,748 100% 323,748

The Mixc Commercial 159,585 159,585

Shenzhen CR Building Office 40,990 40,990

Grand Hyatt Hotel Hotel 67,506 67,506

Car Park Car Park 55,667 55,667

2 Hangzhou Mixc 298,103 60% 178,862


Hangzhou CR Building Office 36,688 22,013


3 Shenyang Mixc 362,945 100% 362,945


Shenyang CR Building Office 55,500 55,500


Grand Hyatt Hotel Hotel 57,040 57,040

4 Chengdu Mixc 312,260 100% 312,260


Chengdu CR Building Office 73,660 73,660





GFA(sqm)

5 Nanning Mixc 206,092 55% 113,351



6 Zhengzhou Mixc 162,553 100% 162,553



7 Chongqing Mixc 348,484 100% 348,484



8 Wuxi Mixc 263,824 60% 158,294



9 Qingdao Mixc 362,945 97% 353,254



10 Ganzhou Mixc 182,900 55% 100,595



11 Hefei Mixc 322,362 100% 322,362






GFA(sqm)

12 Wenzhou Mixc 250,019 51% 127,509



13 Xi'an Mixc 164,003 100% 164,003



13 Shanghai Times Square 97,139 100% 97,139

Commercial Commercial 51,190 51,190

Office Office 36,843 36,843


14 Beijing Qinghe Hi5 198,400 99% 195,698




15 Beijing Phoenix Plaza 131,350 97% 127,843




16 Ningbo Yuyao Hi5 137,043 100% 137,043

Hi5 Commercial 83,221 83,221





GFA(sqm)

17 Hefei Shushan Hi5 80,288 100% 80,288



18 Shanghai Nanxiang Hi5 40,070 100% 40,070



19 Zibo Mixc One 259,908 100% 259,908

Mixc One Commercial 154,805 154,805


20 Shenyang Tiexi Mixc One 242,735 100% 242,735



21 Changsha Xingsha Mixc One 73,139 100% 73,139



22 Rizhao Mixc One 137,697 100% 137,697






GFA(sqm)

23 Beijing 365 plus Hi5 Commercial 36,000 100% 36,000

24 Beijing CR Building Office 65,222 100% 65,222

25 Shenzhen Huarui Building Commercial 13,789 100% 13,789

26 Shimei Bay Le Meridien Hotel Hotel 41,926 100% 41,926

27 Dalian Grand Hyatt Hotel 80,133 55% 44,073

Hotel Hotel 59,237 32,580


28 Huizhou Le Meridien Hotel 66,712 65% 43,363

Hotel Hotel 62,703 40,757


29 Zibo Sheraton Hotel Hotel 42,709 100% 42,709

30 Hangzhou Park Hyatt Hotel Hotel 46,030 60% 27,618

31 London 20 Gresham Street Office 22,558 100% 22,558

32 Car Parks Commercial Car Park 93,803 100% 93,803

33 Beijing Others 268,488 15.3%～97.3% 177,485

Total 5,735,377 % of Total 5,028,327

Comprising: Commercial 3,294,246 58% 2,840,730

Office 429,602 7% 412,477

Hotel 377,151 7% 310,136

Others 1,634,378 28% 1,464,985

Land Bank for IP as of 30 June 2017


No. Project Asset Type GFA(sqm) Interest Attributable GFA(Sqm)

1 North China Region 1,993,492 - 1,753,784

2 Beijing CR Building Ph.2 Office 112,110 97% 109,117

3 Beijing Majestic Garden Office 72,000 97% 70,078

4 Beijing Miyun Mixc One Commercial 89,766 97% 87,369

5 Beijing CR Hotel Project Office 62,953 100% 62,953

6 Beijing Phoenix Place Tower G Office 22,938 97% 22,326

7 Beijing Future Tech City Project Office 157,324 60% 94,394

8 Beijing New Airport Porject Office 28,000 80% 22,400

9 Beijing New Airport Porject Hotel 69,000 80% 55,200

10 Zhengzhou Mixc Ph.2 Commercial 75,000 100% 75,000

11 Zhengzhou CR Building Ph.2 Office 78,600 100% 78,600

12 Shijiazhuang Mixc Commercial 189,134 100% 189,134

13 Qingdao CR Building Commercial 4,500 97% 4,380

14 Jinan City Crossing Commercial 189,600 100% 189,600

15 Rizhao Mixc One Hotel Hotel 8,500 100% 8,500

16 Rizhao Mixc Ph.2 Mall Commercial 2,600 100% 2,600

17 Taiyuan Mixc Commercial 228,400 100% 228,400

18 Linyi Mixc One Commercial 101,300 100% 101,300

19 Yantai Mixc One Commercial 131,307 100% 131,307

20 Qingdao Liaoyang East Road Project Commercial 25,760 65% 16,744




21 Jinan CBD Project Office 117,600 89% 104,664

22 Jinan CBD Project Others 67,100 89% 59,719

23 Beijing Fengtai Lize CBD Office 160,000 25% 40,000

24 East China Region 1,545,646 0% 799,058

25 Shanghai Mixc Commercial 148,498 50% 74,249

26 Shanghai Su River Bay Mall Commercial 6,800 50% 3,400

27 Shanghai Su River Bay Office Office 98,000 50% 49,000

28 Hangzhou Mixc Ph.2 Office Office 95,170 60% 57,102

29 Hangzhou Xiaoshan Mixc One Commercial 77,220 100% 77,220

30 Hangzhou Center Commercial Commercial 70,000 45% 31,500

31 Hangzhou Center Hotel Hotel 33,500 45% 15,075

32 Ningbo Mixc Commercial 168,000 33% 55,994

33 Ningbo Mixc One Hotel Hotel 3,000 100% 3,000

34 Suzhou Kunshan Mixc One Commercial 81,800 51% 41,718

35 Suzhou Wujiang Mixc One Commercial 80,100 50% 40,050

36 Changzhou CR Int'l Community Commercial 50,000 100% 50,000

37 Taizhou Mixc Commercial 104,500 100% 104,500

38 Nantong Mixc Commercial 125,058 55% 68,782

39 Nanjing Jianye District Office Office 304,000 4% 12,160

40 Nanjing Mixc One Commercial 100,000 100% 115,308




41 South China Region 2,421,366 0% 2,176,140

42 Shenzhen Bay Commercial Commercial 80,120 100% 80,120

43 Shenzhen Bay Office Office 256,700 100% 256,700

44 Shenzhen Bay Hotel Hotel 40,060 100% 40,060

45 Shenzhen Qianhai City Crossing Office Office 32,100 100% 32,100

46 Shenhen Qianhai City Crossing Commercial 82,700 100% 82,700

47 Shenzhen CR City Mixc World Commercial 227,760 100% 227,760

48 Shenzhen CR City Office Office 305,740 100% 305,740

49 Shenzhen CR City Hotel Hotel 50,000 100% 50,000

50 Shenzhen Yinhu Blue Mountain Commercial 6,286 100% 6,286

51 Huizhou Xiaojing Bay Garden Mall Commercial 1,300 65% 845

52 Nanning CR Building Office 18,300 55% 10,065

53 Nanning Mixc Hotel Hotel 14,300 55% 7,865

54 Nanning Mixc One Commercial 60,000 51% 30,600

55 Nanning Zhongshan Road Project Commercial 59,800 50% 29,900

56 Liuzhou City Crossing Commercial 128,300 100% 128,300

57 Shantou Mixc Commercial 154,900 51% 78,999

58 Shantou Ocean Bay Commercial 40,000 100% 40,000

59 Guilin Mixc Commercial 65,000 100% 65,000

60 Hainan Shimei Bay Hotel Hotel 87,700 100% 87,700




61 Zhuhai Hengqin Mixc World Commercial 100,000 100% 35,000

62 Zhuhai Hengqin Mixc World Hotel Hotel 46,000 100% 16,100

63 Haikou Mixc Commercial 84,000 100% 84,000

64 Haikou Longhua District Project Office Office 130,200 35% 130,200

65 Haikou Longhua District Project Hotel Hotel 70,100 35% 70,100

66 Xiamen Mixc Commercial 100,000 100% 100,000

67 Xiamen City Crossing Hotel Hotel 50,000 100% 50,000

68 Xiamen City Crossing Office Office 50,000 100% 50,000

69 Fuzhou Mixc Commercial 80,000 100% 80,000

70 West China Region 591,600 100% 591,600

71 Chengdu Mixc Ph.2 Commercial 123,200 100% 123,200

72 Chengdu Mixc Ph.2 Hotel Hotel 17,700 100% 17,700

73 Chongqing Mixc Ph.2 Commercial 163,600 0% 163,600

74 Chongqing Mixc One Commercial 42,200 100% 42,200

75 Chongqing The Arch Commercial 58,900 100% 58,900

76 Kunming Wuliduo Commercial Street Commercial 24,000 100% 24,000

77 Mianyang Mixc One Commercial 41,000 100% 41,000

78 Mianyang Mixc One Office Office 51,000 100% 51,000

79 Guiyang Mixc One Commercial 70,000 100% 70,000

80 Northeast Region 377,500 100% 326,340




81 Shenyang Huanggu Mixc One Commercial 85,300 100% 85,300

82 Dalian Mixc One Hotel Hotel 10,200 100% 6,120

83 Dalian Mixc One Commercial 117,700 0% 70,620

84 Harbin Fun Square Mall Commercial 95,200 100% 95,200

85 Anshan Oak Bay Commercial 16,800 60% 16,800

86 Anshan Park Lane Manor Commercial 19,000 60% 19,000

87 Shenyang Xiaonan Street Others 33,300 100% 33,300

88 Central China Region 446,308 100% 286,876

89 Hefei Mixc Hotel Hotel 57,408 100% 57,408

90 Hefei Luyang Mixc One Commercial 60,100 100% 60,100

91 Wuhan Mixc Commercial 189,800 0% 96,798

92 Wuhan City Crossing Office Office 97,000 100% 49,470

93 Ganzhou City Crossing Hotel Hotel 42,000 100% 23,100

94 Car Park Commercial 8,330 51% 8,330

95 Taiyuan Street Car Park Others 8,330 51% 8,330

96 Others Others 64,880 100% 64,880

Total 7,449,122 % of Total 6,007,009

Comprising： Commercial 4,426,309 60% 3,724,783

Office 2,249,735 30% 1,608,068

Hotel 599,468 8% 507,928

Others 173,610 2% 166,229

Launch Schedule for IP in 2017-2019


No. Project Operation GFA (sqm) GLA (sqm)

1 Shanghai Mixc 2017 167,209 100,446

2 Shenzhen Mixc World 2017 227,760 142,935

3 Jiangsu Taizhou Mixc 2017 111,000 77,000

4 Beijing Miyun Mixc One 2017 107,222 77,846

Total rental area to be added in 2H17 613,191 398,227


5 Chongqing Danzishi Mixc One 2018 62,000 47,000

6 Taiyuan Mixc 2018 203,118 120,372

7 Nantong Mixc 2018 125,288 79,879

8 Xiamen Mixc 2018 130,783 81,085

9 Hangzhou Xiaoshan Mixc One 2018 96,781 61,456

10 Shenzhen Nanshan Mixc 2018 80,000 42,000

11 Jinan Mixc 2018 198,089 124,455

12 Guangxi Liuzhou Mixc 2018 122,653 79,724

Total rental area to be added in 2018 1,018,712 635,971

Launch Schedule for IP in 2017-2019



13 Shijiazhuang Mixc 2019 179,201 113,371

14 Jiangsu Kunshan Mixc One 2019 80,837 54,142

15 Suzhou Wujiang Mixc One 2019 89,983 57,502

16 Shandong Linyi Mixc One 2019 105,403 70,119

17 Harbin Huanlesong Project 2019 81,112 47,552

18 Jiangsu Taizhou Mixc (Ph. 2) 2019 85,143 57,046

19 Guilin Mixc 2019 73,988 48,494

20 Hefei Luyang Mic One 2019 50,539 72,036

21 Shenhen Qianhai City Crossing 2019 118,781 76,033

22 Chengdu Mixc (Ph. 2) 2019 102,121 182,358

23 Ningbo Wantou Mixc 2019 62,814 108,300

Total rental area to be added in 2019 1,029,922 886,953

Disclaimer

• All information and data herein are intended for reference and general information purposes only.

• All opinions included constitute China Resources Land Limited (“CR Land”) or its subsidiaries, associated or affiliated companies’ judgment as of the date hereof and are subject to change without notice.

• CR Land cannot and does not represent, warrant or guarantee the accuracy, validity, timeliness, completeness, reliability or otherwise of any information contained in the materials herein.

• CR Land, its subsidiaries and affiliates hereby disclaim (i) all express, implied, and statutory warranties of any kind to user and/or any third party including warranties as to accuracy, timeliness, completeness, or fitness for any particular purpose; and (ii) any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information and data contained herein.


COVER - TodayIRlivewebcast.todayir.com/crland_17ir/ppt.pdfGrowing shopping mall portfolio with...

Documents

Transcript of COVER - TodayIRlivewebcast.todayir.com/crland_17ir/ppt.pdfGrowing shopping mall portfolio with...