CIFI’s contracted sales grew by 66% year on year to RMB 16.22 billion in January 2021 – Arabian Post

HONG KONG SAR – Media OutReach – 3
February 2021 –

• In
  January 2021, the Group achieved contracted sales of approximately RMB 16.22
  billion, representing a YoY increase of approximately 66% (compared to January
  2020). Contracted GFA amounted to approximately 990,400 sq.m..

• Contracted
  ASP was approximately RMB 16,400 / sq.m. in January 2021.

Land Acquisition

• In
  January 2021, the Group completed the following land acquisitions: 

Company
News

• CIFI
  formed a 65:35 joint venture with Zhang Tai Holdings to develop residential a
  property project in Guangxi, accelerating the development of the Group’s
  commercial and residential property development business in Guangxi, and
  further expanding its business presence in southern China and increasing the
  number of its property projects through acquisition there. Moreover, Ever
  Sunshine Lifestyle Services Group, a subsidiary of the Group, announced an
  acquisition of a 65% equity in the property management business of Zhang Tai,
  realizing the synergy between the brands of CIFI and Ever Sunshine.
• CIFI
  successfully issues senior notes with an aggregate principal amount of US$419
  million. The senior notes are at a coupon rate of 4.375% and yield of 4.4% with
  a 6.25-year maturity period, which hit the record for the longest maturity
  period and the lowest coupon rate of the Group’s offshore bond issuance. The
  issue attracts enthusiastic response, with total orders at peak time exceeding
  US$4.8 billion, which was over 11 times of the total issue size. 82% of total
  issuance is allocated to Asian investors, while the remaining 18% is allocated
  to European investors. The final allocation to institutional investors is 72%
  of total issuance. The proceeds of the note will be used for re-financing of
  the Group’s existing indebtedness.
• The
  Lin family, the major shareholder of CIFI, increased its shareholdings in the
  Group by a total of 1.376 million shares, fully reflecting its strong
  confidence about CIFI’s long-term development capabilities and the room for
  future growth in the stock price.
• CIFI
  and Peaktop Group jointly held a ceremony for their signing of a strategic
  cooperation agreement. According to the agreement, the two parties will utilize
  their resources and advantages to carry out in-depth and comprehensive
  cooperation in the further development of the property market of Dongguan based
  on the principles of equality and mutual benefit, resource sharing, and
  complementing each other with their respective advantages. The cooperation will
  enhance the core competitiveness of the partners and enable them to explore
  ways to develop for mutual benefit as they are planning to build a better life
  for the people in the Greater Bay Area.

• CIFI
  has a good start in several projects:

– Capitalizing on the upcoming Spring Festival,
Hangzhou CIFI Zhaowen Huacheng Project sold 288 units with total sales value of
RMB 860 million. Sales reached RMB 810 million with a sell-through rate of 93%
on the day of the project launch. It conducted four additional sales launches
within 68 days, recording cumulative sales of RMB 2.3 billion.

– Xi’an CIFI Legend Palace Project is located on
the edge of the economic zone of Chanba Headquarters in Xi’an. It and Daming
Palace in the north of the city and the commercial zone in the east of the city
form a triad. In the first 8 days that sales were conducted, Xi’an CIFI Legend
Palace Project succeeded in registering many home buyers despite the
competition from low-priced residential units in the city because of its
product strength and capability of building up a large customer base. The
contracted sales at the project in January exceeded RMB 1.0 billion as home
buyers were willing to pay a premium for the properties at the project. As a
result, the project outperformed the market in sales.

• Hangzhou
  CIFI Metropolis Project, China’s first BREEAM four-star dual-certified
  residence, has been started, indicating the recognition of CIFI’s green
  technology products. BREEAM certification was founded by BRE (Building Research
  Establishment) in 1990. It is one of the world’s earliest established, most
  widely used, most widely recognized, objective and comprehensive green building
  evaluation, rating and certification standards.
• CIFI’s
  online sales mini-program, Xu Ke Jia, was officially upgraded. Xu Ke Jia is an
  online sales platform set up by CIFI. It provides customers with detailed and
  comprehensive online services like online viewing of show flats, online
  consultancy and enquires, VR viewing of show flats, mortgage calculator, hot
  news, online presale, property agents’ recommendations, as well as online
  commission calculation. The annual transaction amounted to over RMB 13.8
  billion, and the number of registered property agents reached over 560,000.
• As
  one of the first three shortlisted companies, CIFI acquired a 66% equity stake
  in the 354-mu Xinjin Station TOD project on 4 December 2020 and a 100% equity
  stake in the 283-mu Wenjiang Wansheng Station TOD (transit-oriented
  development) project on 5 January 2021, respectively, in Chengdu, Sichuan
  province. The acquisitions mark Chengdu CIFI’s important step in the direction
  of the overall operation of property projects in a city that embraces the TOD
  concept, and the beginning of a new government-enterprise collaboration model
  for TOD development. In 2017, Chengdu mapped out its strategy for developing
  TOD projects. Since 2019, it has been developing TOD projects which have served
  as benchmarks worldwide and have set examples for the industry.