Times Property Included Among Best 50 China Real Estate Listed Companies with Greatest Comprehensive Strengths
The 2017 China Real Estate Listed Companies Appraisal Results Conference and Listed Real Estate Enterprise Forum, jointly launched by the China Real Estate Association, Shanghai E-house China R&D Institute and China Real Estate Appraisal, was held in Hong Kong on May 25, 2017. Numerous government-related department leaders, experts and scholars from the real-estate industry, and representatives of well-known financial investment institutions and outstanding real-estate enterprises participated in the event. Times Property (01233.HK) was honored with inclusion among the "2017 Best 50 China Real Estate Listed Companies with Greatest Comprehensive Strengths," ranking at number 39.
· Times Property was included among the "2017 Best 50 China Real Estate Listed Companies with Greatest Comprehensive Strengths."
The "China Top 100 Listed Real Estate Companies with Greatest Comprehensive Strengths" appraisal is an appraisal activity held by the China Real Estate Association affiliated to the Ministry of Housing and Urban-Rural Development of the People's Republic of China and the China Real Estate Appraisal, the professional real estate appraisal institute that is legally registered with the State Ministry of Civil Affairs. It has been carried out for nine consecutive years, with the extensive involvement of industry professionals and government authorities.
Times Property's designation as one of the "2017 Best 50 China Real Estate Listed Companies with Greatest Comprehensive Strengths" is attributable to the following:
1. Significant growth in core profits
Times Property experienced a substantial increase in core profits in 2016, characterized by sound financial stability, optimized debt structure and adequate cash reserves. The company recorded an annual contract sale of RMB 29.33 billion, up 50.3% year on year. The area sold under contract amounted to 2,473,000 square meters, an increase of 14.2% year on year, thereby maintaining steady growth momentum since the listing.
2. Sustained increase in profitability
Thanks to sustained increase in profitability and a sound financial strategy, the finance cost of Times Property was reduced and the net debt ratio fell 22.6% from the previous year's figure. As of December 31, 2016, Times Property held cash and bank deposits amounting to RMB 11.9 billion. The Group has adequate bank deposits and cash.
3. Rapid expansion of asset income
Times Property, as of the end of 2016, owned total assets of approximately RMB 70 billion. The operating income increased by 18.83% year on year, and the growth of assets and income rose rapidly. Times Property has actively increased its land reserves through a number of channels. The 14 newly acquired projects are located in Guangzhou, Foshan, Zhuhai, Zhongshan, Dongguan, Qingyuan and Huizhou. The total land reserves are sufficient to meet the needs of development in the next three to five years.
4. Advocacy of "responsible corporate citizenship"
Times Property Charity Foundation is one of the very first charity foundations initiated by real estate developers in China. It pursues the objectives of sincerity, kindness, virtue and joy. Accordingly, it embodies the civic and social responsibility of an enterprise. Moreover, by advocating the value of "practicing and receiving love" through acts of charity, the Foundation also innovates in public service by combining donations with cultural promotions. Through such practices, Times Charity Foundation is devoted to the rebuilding of lives and the remodeling of civilization. It conveys its public image--"More Beautiful with Love"--to all in society. Times Charity Foundation has, as of this writing, built one special-education and rehabilitation building for a children's welfare institute, two comprehensive hospitals and 13 "Hope" schools. It has organized nearly 300 voluntary activities and helped more than 3,000 cataract patients to recover their vision through free surgeries. Meanwhile, the Foundation has assisted 20,000 students with financial difficulties so that they could finish school. With support from the Times Museum, Times Charity Foundation assists in the construction of urban civilization by promoting local cultural and artistic activities. To date, Times Charity Foundation has donated more than RMB 300,000,000 to needy recipients.
Times Property, well-known as the real-estate industry's "life stylist," will carry forward its core value of "love, commitment and creation" while providing truly tasteful product and creating more value for shareholders. In doing so, the company continues to help more people achieve the life of which they dream.