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Tuesday, 22 March 2016, 14:49 HKT/SGT
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Source: Modern Land (China) Co Ltd
Modern Land Announces 2015 Annual Results
- Revenue and Gross Profit Rose by 55.7% and 18.7% to RMB6,349.8 Million and 1,964.1 Million Respectively
- Contract Sales Soared by 53.5% to RMB11,290 Million
- Consolidate the Environmental-friendly System, Implement Ecological Strategies and Innovate Business Model to Achieve Significant Breakthroughs in Products, Financing Structure and Customer Operations

HONG KONG, Mar 22, 2016 - (ACN Newswire) - Modern Land (China) Co., Limited ("Modern Land" or the "Company", together with its subsidiaries, the "Group", stock code: 1107), a leading real estate developer in the architectural energy-saving field in the PRC, announced its annual results for the year ended 31 December 2015 ("year under review").

Results Summary:

- Revenue increased by approximately 55.7% to approximately RMB6,349.8 million.
- Gross profit increased by approximately 18.7% to approximately RMB1,964.1 million and gross profit margin was approximately 30.9%.
- Profit for the year attributable to owners of the Company increased by approximately 10.9% to approximately RMB577.9 million.
- Basic earnings per share was RMB30.5 cents (2014: RMB29.6 cents).
- Achieved contracted sales of approximately RMB11,290.0 million, representing a year-on-year increase of approximately 53.5%.
- The Board resolved to declare a final dividend of HK9.9 cents per share.

During the year under review, the revenue of the Group increased by approximately 55.7% to approximately RMB6,349.8 million. Such increase was mainly attributable to the aggregate sales revenue from various property development projects such as Wan Guo Cheng MOMA (Taiyuan), Changsha Kaifu Man Ting Chun MOMA and Modern Caiyu Man Ting Chun MOMA (Beijing). The property related delivered gross floor area ("GFA") of the Group increased year-on-year to approximately 776,369 sq.m. and 2,258 car parking spaces. Revenue from sale of properties business amounted to RMB6,201.9 million, representing an increase of 54.3% as compared to the same period last year. Revenue from contracted sales achieved RMB11,290.0 million, representing an increase of 53.5% as compared to the same period last year. Revenue from leasing of properties amounted to RMB45.1 million, representing an increase of 23.5% as compared with the same period last year. Revenue from hotel operations increased by 36.2% to RMB33.7 million in 2015 and revenue from project management amounted to RMB42.5 million in 2015. Gross profit increased by approximately 18.7% to approximately RMB1,964.1 million as compared with the same period in 2014. Gross profit margin was 30.9% in 2015. The profit of the Group attributable to owners of the Group for the year ended 31 December 2015 increased by approximately 10.9% as compared to the same period last year to approximately RMB577.9 million. Basic earnings per share was RMB30.5 cents, representing an increase of 3.04% as compared to the same period last year. The Board resolved to declare a final dividend of HK9.9 cents per share.

As at 31 December 2015, the Group's total land bank in the PRC (excluding investment properties and properties held for own use) increased by 1,020,132 sq.m. to a total land bank of 4,623,068 sq.m. During the year under review, the Group continued to expand land bank and acquired five parcels, which are located in first-tier and second-tier cities such as Shanghai, Suzhou, Xi'an, Hefei, Foshan. Acquisition of land greatly increased the market penetration of the Group and maximized the promotional brand image of the Group as a leading real estate developer in the architectural energy-saving field.

Under the need of developing real estate investment projects at home and abroad and other businesses, Modern Land signed a strategic cooperation framework agreement with China Cinda (HK) Asset Management Co., Ltd, China Jingu International Trust Co., Ltd, and Nanyang Commercial Bank (China) Limited, on the principle of equal consultation, mutual benefits and common development, in order to reap the benefits in project execution, fund-raising and assets management, and further strengthen the Group's influence in the real estate industry.

Mr. Zhang Peng, Executive Director and President of the Group said, "In 2015, Modern Land consolidated its environmental-friendly system, implemented ecological strategies and innovated its business model. The Company has been focusing on creating leading green products for over a decade and this helps to shape the differentiated competitiveness of the Group. Modern Land has established a visionary blueprint of development, acquired quality parcels in the strategic regions which include Northern, Central, Eastern and Southern China and entered the new markets, which in turn expanded the Group's scale and enhanced market shares. By promoting company business through the combination of innovative internet mindset and marketing, we lay a solid foundation for the satisfactory performance in 2015."

In terms of green solutions, with 15 years of dedicated research, Modern Land has developed its unique core competitiveness in solutions for modern life, i.e., "unique solution of heating and cooling", "unique solution of air quality" and "unique solution of cost reduction in energy consumption and operation". The "unique solution of air quality" is AirDino 1, a household filtration system of air source whilst the "unique solution of cost reduction of energy consumption and operation" is a home technology and self-control building system using mobile Internet. The "unique solution of heating and cooling" is AirDino 2 launched in 2015, which is a household heat pumping system of air source. These three green products further consolidated our core competitiveness in terms of eco-friendliness.

In terms of scale of green efforts, in 2015, Modern Land was committed to the "choosing prime sites" strategy, focusing on selected urban areas. It established its presence in Foshan, Xi'an, and Suzhou, and furthered its work in Shanghai, Changsha and Hefei, thus completing the strategic development plan of the four regions of Northern, Central, Eastern and Southern China, and achieving the nationwide presence of the MOMA brand, which proved its scale in green initiatives is gradually expanding. At the same time, The Company won the championship for China Green Operation Model, and two projects were chosen as demonstration model of green residential area of China. The Company is a listed company with the most investment value across China, winning the Best Corporate Governance Award, which fully demonstrated its high recognition by capital markets.

In terms of green innovation, with the combination of internet mindset and the whole value chain of real estate development, Modern Land established a brand new ecological development model and three major platforms, i.e. platform of green financial capital for attracting capital from home and abroad, development platform of green real estate featuring comfort and energy conservation, and green mobile internet community service platform after moving in by the residents. Meanwhile, from the business model extended from key points identified in the value chain of the whole process of property development, 12 value-added products were developed for serving our clients, including 51wofang.com, izhujia.com.cn, 52kanhaizi.com, Green Living Equity Investment Fund, the venture BIGGER and Zhongxin Internet Supply Chain Finance. These 12 products effectively enhance clients' loyalty by meeting their needs, enhancing our capabilities of increasing sales and turnover rate.

Mr. Zhang Peng, Executive Director and President of the Group concluded, "Looking into the future, the background of undergoing economic reforms, promoting quantitative easing and urbanization by China central government will bring along beneficial factors to the real estate industry. As de-stocking, risk control and facilitation of investment will be the main theme of 2016, the overall market of the industry will enter a new norm. Modern Land will continue to promote its business operations and achieve three breakthroughs. The first is breakthrough in products, which is to design products for our customers' future lifestyle according to their needs, and adjust our product structure. The second is breakthrough in financing structure, changing from the single channel of debt financing to more varied channels featuring financial innovations, real estate financialisation, securitization of commercial banks, insurances, Internet finance, and assets, and the marketisation, diversification, securitisation of funds. Equity financing has led to financial restructuring of enterprises for reducing cost of capital. The third is breakthrough in customer operations. The Company has to operate and maintain its operations with the customers truly as its focus, so that customers will feel the change in their lifestyle, not only in physical space, but a move towards a community of creativity, culture, life, education and future. Modern Land will continue to seize market opportunities and further promote company's revenue and earnings, and strive for a valuable reward for its shareholders."

About Modern Land (China) Co., Limited
Established in 2000 in Beijing, Modern Land is a leading real estate developer of environmental and energy-saving properties, and concentrates on developing energy-efficient and comfortable living environment with property development projects in Beijing, Shanghai, Suzhou, Foshan, Xi'an, Taiyuan, Wuhan, Changsha, Hefei, Nanchang, Dongdaihe, Jiujiang and Xiantao. The Group possesses strong capabilities in R&D while integrating advanced energy-saving technologies. Through its "MOMA" energy-saving system, the Group is able to integrate various sustainable development techniques in terms of comfortable and sustainable property development and provide comprehensive systematic solutions.


Topic: Press release summary
Source: Modern Land (China) Co Ltd

Sectors: Daily Finance, Daily News
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