HONG KONG, Mar 31, 2022 - (ACN Newswire via SEAPRWire.com) - An established property developer in the PRC focusing on developing quality residential properties in the Yangtze River Delta Megalopolis for customers of all ages, Yincheng International Holding Co., Ltd. ("Yincheng International Holding" or the "Company", together with its subsidiaries, the "Group", Stock code: 1902.HK) is pleased to announce its audited consolidated annual results for the year ended 31 December 2021 (the "Year").During the Year, the Group recorded a revenue of approximately RMB8.75 billion. Gross profit was approximately RMB1.51 billion, representing an increase of 30.1% YoY. Gross profit margin was approximately 17.2%, representing an increase of 6.4 percentage points. The Group's profit for the year increased by 25.7% YoY to approximately RMB48.5 million, net profit margin was approximately 5.5%, representing an increase of 1.9 percentage point. Profit attributable to owners of the parent for the Year was approximately RMB142 million.Precise Deployment in Key Cities with Sales and Payment Collection Recording a Record HighIn 2021, under the influence of the COVID-19 pandemic and the downturn in the industry, commencement of construction, investments and sales of the real estate industry were susceptible to certain constraints. Nevertheless, the Group responded proactively and in a timely manner by adjusting the project launch schedule and promoting the business through multiple measures, including increasing its efforts on online marketing channels and external channels via the use of channels such as "Yin Yuan Bao". Through such approaches, the Group could develop the online customer base and undergo digital transformation on the other hand. Leveraging on its steady project launch strategy throughout the year, as well as its good brand image and high market recognition accumulated over the years, the Group achieved a record high in total contracted sales for the year. During the Year, the Group recorded a record high in total contracted sales, increased by 9.0% YoY to approximately RMB25.3 billion, and the compounded growth rate from 2018 to 2021 was 38.4%. During the year, total contracted sales gross floor area amounted to approximately 1,136,045 sq. m., the contracted average selling price increased by 10.6%. to approximately RMB22,265 per sq. m..The Group continued to unleash its significant advantages in the Yangtze River Delta region, the projects that mainly contributed to the contracted sales were located in core cities such as Nanjing and Hangzhou. A number of projects in core cities that were newly launched during the year achieved excellent sales performance. For example, all 914 residential units in the Nanjing Yunwangfu project were immediately sold out after its launch in three phrases. The Hangzhou Qingshanhupan project launched 310 additional units in May, with excellent sales performance, ranking first in the transaction volume of the Lin'an market in the first half of the year. The Guan Hu Zhi Chen project and Yue Hu Zhi Chen project have achieved excellent sales performance of "seven launches and seven sold out" from May to September 2021 upon their first launch in November 2020, with contracted sales of RMB4,112 million and sales proceeds of RMB3.8 billion after 1,439 units were sold. By the end of 2021, the residential units of Nanjing Jin Ling Jiu Yuan project, which was first launched at late December 2020, were sold out during the three launches, making it the No. 1 residential transaction in Nanjing's midtown area in 2021 and the No. 1 in Nanjing in terms of area, number of units and total sales amount of residential units sold with a total price of over RMB20 million, leading the residential sales market in Nanjing. At the same time, the Group achieved the fifth consecutive year of growth in receivables collection last year, while the consolidated recovery rate hit a record high for the Group, which was also an above par achievement in the industry.Precise and Efficient Investment and Prudent Expansion of Quality Land ReservesIn 2021, the Group was committed to the existing strategies of serving the markets in the Yangtze River Delta Megalopolis. During the year, we further developed the five regional markets of Nanjing, Southern Jiangsu, Zhejiang, Huaihai and Anhui. The Group had acquired a total of 14 land parcels within the year by continuing to adopt a diversified land acquisition channels, which contributed to an increase of approximately 2.97 million sq.m. in total GFA. As at 31 December 2021, the GFA of the Group's total land bank amounted to approximately 7.25 million sq. m., of which, approximately 4.71 million sq. m. was attributable to the Group. The Group adjusted its investment strategy in a timely manner to return to the very essence of its operation. Adhering to the principle of long-term investment, the Group has implemented strict control before, during and after investment, and maintained control with the operational indicators of new projects from multiple perspectives, with a positive cash flow-back cycle of 18 months for new project targets and a positive fund back cycle of 9 months. This not only brought a guarantee for future development in terms of scale, but also provided strong support for the Group's future profits and sustainable operation in the long run.Industry-leading Development and Operation Efficiency due to Significant Improvement in Production and SalesThe Group continued the strategy of stable and efficient development to ensure the sustainable operation of the enterprise. Acquisition of four certificates required for land parcels takes approximately 3.8 months and the initial sales period was approximately 6.9 months. Particularly for the first time in 2021, "50% of the target sales were achieved after half of the sales period" during the first half of the year, thus more supply and sales were concentrated in the first half of the year. The Group's focus on key projects have yielded significant results, including projects such as Qingshanhupan in Lin'an and Qingyunfu in Xuzhou, which exceeded the progress of contracting and payment collection in 2021. In addition, a number of projects were delivered successively during the year, with an overall on-time delivery rate of 100%, and therefore no delivery was delayed.In addition to maintaining its industry-leading development and operation speed, the Group also maintained high standards in product engineering quality and customer satisfaction indicators. The Group's overall loyalty rating for 2021 was 72, a slight increase from 71 in 2020, and the Group is ranked in the top 20% of the industry. The Group achieved an overall annual customer satisfaction of 88%, an annual delivery satisfaction rate of 87% and an overall housing inspection service satisfaction rate of 95%, all of which were at the industry benchmark level. By the end of 2021, the Group's total resources at the end of the year amounted to approximately RMB70 billion, of which the aggregate inventory resources reached approximately RMB25 billion, including those pending the collection of issued licenses and those which are eligible for obtaining licenses. The resources in transit will be released gradually this year, approximately 90% of which would be distributed in the first-tier cities and second-tier cities so that the comparatively high overall safety margin provides reliable sources for future contracted sales.Mr. Huang Qingping, the Chairman of Yincheng International Holding, said "the decline in profitability of real estate enterprises is an industrial trend underway and is a result from factors such as the tightened macro-control and the lagging effects brought by various policies. In the real estate industry, the development model where real estate companies previously achieved rapid expansion through high debt, high leverage, and high turnover is no longer sustainable. In this context, the real estate industry is transitioning from incremental development to stock operation. In active response to challenges, the Group will continue to maintain a safe threshold for future development, and control business risks. By utilizing the advantages of our own brands, products and services, the Group will actively secure room for survival and development in the regional market, and move forward to lean operation and high-quality development. As an important growth area for China's economic development, the Yangtze River Delta region where we are located remains as one of the most dynamic and robust markets in China, with a population continuing to concentrate in the cities. The scale of the real estate industry will continue to exist, and the demand which has not disappeared will be gradually released as the inhibitory factors disappear. In the future, we will continue to focus on the market in the Yangtze River Delta region by utilizing the established compound advantages such as real estate, property, and healthcare. On the basis that the Group has sufficient capital, our Group will rationally expand the business scale, improve the quality of operations, and achieve steady and stable growth in profitability, as well as stable and robust business development, to seize the development opportunities brought by the accelerated consolidation of the real estate industry."Today, Yincheng International Holding held the 2021 annual results presentation online. Total of 96 fund managers, equity analysts and reporters participated in the event. The management gave the introduction of annual results and answered the participants' questions. 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HONG KONG, Aug 20, 2021 - (ACN Newswire via SEAPRWire.com) - An established property developer in the PRC focusing on developing quality residential properties in the Yangtze River Delta Megalopolis for customers of all ages, Yincheng International Holding Co., Ltd. ("Yincheng International Holding" or the "Company", together with its subsidiaries, the "Group", Stock code: 1902) is pleased to announce its unaudited consolidated interim results for the six months ended 30 June 2021 (the "Period").During the Period, the Group achieved contracted sales amount of approximately RMB 16.5 billion, representing an increase of 170% YoY. Revenue of approximately RMB 3.79 billion. The gross profit was approximately RMB 689.3 million with gross profit margin increased by 2.5 percentage points YoY to 18.2%. The profit for the period was approximately RMB 298.1 million, and the net profit margin increased by approximately 1.3 percentage points YoY to 7.9%. Ample Land Reserve Resources Enable Precise Key Market DeploymentYincheng International Holding consistently adhered to the development strategy of "based in Nanjing, cultivate the Yangtze River Delta Megalopolis". During the period, the Group has acquired a total of 12 high-quality land parcels with GFA of over 2.4 million sq.m., which are mainly located in the core cities of the Yangtze River Delta Megalopolis such as Nanjing, Wuxi and Hangzhou, marking its further development in the five regional markets and commitment to its existing strategies. The Group's first foray into Huai'an at the beginning of the year acquired high-quality land parcels with a total GFA of nearly 130,000 sq.m., achieving more balanced business presence in the Yangtze River Delta Megalopolis. Leveraging on the Group's efficient development and operation capabilities, some of the projects will be launched within this year, contributing to the contracted sales for the year.Under "Dual-concentrations" policy, it continues to benefit the expansion of Yincheng International Holdings in such region as a leading enterprise in such region. At the same time, the Group made an early layout, appropriately adjusted its investment and expansion strategy, proactively acquired high-quality land parcels with suitable location which meet the investment criteria in the centralised land supply, in order to prepare for the next development. As at 30 June 2021, the Group had a land bank with an aggregate estimated GFA of over 7.57 million sq.m., out of which the land bank with interests attributable to the Group amounted to approximately 5.22 million sq.m.. As at 30 June 2021, the Group had 58 projects located in 10 cities in the PRC, of which 37 projects were developed and owned by the Group and the remaining 21 projects were developed and owned by the Group's joint ventures and associates.Adjusted Project Launch Schedule in a Timely Manner to Achieve Rapid Growth in BusinessWith the positive results of the epidemic prevention and control measures since 2021, the real estate market has been gradually recovering and has shown a stable growth trend. In response to the recovery of the market, Yincheng International Holding adjusted its project launch schedule in a timely manner and promoted its business through both online and offline channels. The Group has developed the ability of its sales staff to analyse project strengths, discover project highlights and expand customer base. In response to the trend of information transparency in the Internet era, the Group has been using various methods of digital marketing such as online mini-programs, social software and short-video live streaming platforms to achieve rapid growth in contract sales. During the six months ended 30 June 2021, the Group recorded total contracted sales of approximately RMB16,535.5 million, representing a significant increase of approximately 170.1% YoY. The total contracted sales GFA amounted to approximately 811,589 sq. m. with a contracted ASP of approximately RMB20,374 per sq.m., representing an increase of approximately 141.3% and 11.9% YoY, respectively. While Yincheng International Holding continues to cultivate the five regional markets, it has also increased its sales efforts in the first tier cities. The projects in Nanjing and Hangzhou contributed a total contracted sales of over RMB11.5 billion, accounting for approximately 70% of the total contracted sales. Among them, the projects Jin Ling Jiu Yuan and Yunwangfu in Nanjing, Guan Hu Zhi Chen and Qingshanhupan in Hangzhou continued to have good sales performance, with the four projects contributing in aggregate approximately 59% of the total contracted sales.Obtained High Recognition from the Capital Market by Stable Comprehensive Strength and Excellent ProjectsYincheng International Holding maintains diversified financing channels and continues to strengthen and enhance both of our domestic financing strength and overseas financing capability to reduce financing risks. Relying on the stable business growth, excellent financial performance and results of operations, the Group has gained recognition from the capital market. On the second anniversary of its listing, the Group successfully issued US$165 million one-year senior notes in March 2021, marking the third successful issuance of US$ debt financing instrument. While the cost of such issuance continues to decline, the subscriber base has become more diversified, which fully reflected market's recognition of the Company's comprehensive strength and financial position. With the solid corporate strength and stable and substantial investment returns on US$ denominated senior notes, the Group was listed by BNP Paribas as one of the five recommended investment targets for US$ denominated bonds in the real estate sector and the shares of the Company were also given "buy" ratings among B-rated real estate companies, which fully demonstrated the affirmation of the capital market to the Group's future development prospects. The Group pursued placing equal emphasis on both quality and service and received various awards during the period, including "2021 Top 100 Listed Real Estate Enterprise in China" and "2021 Outstanding Human Resources Management Award". In addition, a number of projects of the Group, including Peaceful Paradise and KINMA Q + Community, were granted various rewards in the selection of the "2020 Provincial Urban and Rural Construction System Outstanding Survey and Design Award" as announced by Housing and Urban-Rural Development Office of Jiangsu Province, which reflected excellent design quality and engineering capabilities of the Group, as well as its determination to develop quality residential properties for customers of all ages.Strive to Achieve All of the "Three Red Lines" and Insist on Optimising Financial IndicatorsMr. Huang Qingping, the Chairman of Yincheng International, said "In 2021, under the complex economic environment and increasingly stringent regulatory requirements, our group member collectively endeavour to enhance our strengths as a regional real estate enterprise and maintain a rapid and steady growth. In the first half of the year, our sales achieved robust growth while the contracted amount and payment collection marked a record high. In addition, we continued to cultivate the deployment of the new first-tier cities such as Nanjing and Hangzhou, thus acquired profitable core land parcel. At the same time we expanded into Huai'an, achieved a breakthrough in cultivation and coverage, to further consolidated our leading position in the Yangtze River Delta Megalopolis. Following the promulgation of the 'three red lines' policy, the introduction of the 'dual-concentrations' policy further encouraged the plan to stabilise land prices, housing prices and market expectations'. Looking forward, we will continue to reduce and control leverage levels, reduce financing costs and optimise the debt structure, in order to gradually meet the control requirements under the 'three red lines' policy. We will actively adjust our development under the 'dual-concentrations' policy, maintain our existing land acquisition strategy to acquire high-quality land through the use of both pre-investment analysis and post-investment control, and making use of our diversified land acquisition experience to continuously improve project profitability. At the same time, we will focus on the rate of project realisation and improve the collection of receivables, gradually slow down the pace of land acquisition after achieving stable growth in scale to improve cashflow turnover. Furthermore, our Group is determined to enhance capabilities in all aspects according to our long-term development strategies, and shall continue to strive with the goal of becoming a leading real estate enterprise and generating more fruitful returns for our Shareholders."Today, Yincheng International held the 2021 interim results presentation online. Total of 115 fund managers, equity analysts and reporters participated in the event. The management gave the introduction of annual results and answered the participants' questions.About Yincheng International Holding Co., Ltd. As an established property developer in the PRC focusing on developing quality residential properties in the Yangtze River Delta Megalopolis for customers of all ages, Yincheng International commenced its property development operations in Nanjing and successfully expanded its footprint to other cities in the Yangtze River Delta Megalopolis, including Wuxi, Suzhou, Zhenjiang, Hangzhou, Ma'anshan, Hefei, Xuzhou, and Taizhou. Adhering to the core development strategy of "leading quality, excellent services and Innovation" with an aim to developing quality property products "with healthy, comfortable, smart and convenient living environment for customers of all ages", Yincheng International has been recognized by the Jiangsu Real Estate Association as one of the top 50 enterprises in the property development industry of Jiangsu Province in terms of comprehensive strength consecutively for 18 years since 2002 and ranked 1st on such list in 2019.As at 30 June 2021, the Group had 58 projects located in 10 cities in the PRC, including Nanjing, Wuxi, Hefei, Suzhou, Hangzhou, Zhenjiang, Ma'anshan, Xuzhou, Taizhou, Wenzhou and Huai'an). The Group's land bank with an aggregate estimated GFA of over 7.57 million sq.m., out of which the land bank with interests attributable to the Group amounted to approximately 5.22 million sq.m.. The high-quality land bank has laid a solid foundation for the Company's future growth. Copyright 2021 ACN Newswire. All rights reserved. (via SEAPRWire)