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Country Garden (02007-HK) announced its 2021 annual results. For the year ended December 31, 2021, Country Garden achieved a total equity contracted sales of approximately RMB 558.00 billion (units are the same below), with an equity sales area of approximately 66.41 million square meters; total revenue of approximately RMB 523.06 billion and gross profit of approximately RMB 92.78 billion , the net profit is about 40.98 billion yuan and the core net profit attributable to shareholders is about 26.93 billion yuan; it is proposed to distribute a final dividend of 10.12 cents per share, with a dividend payout ratio of 26.2%.
By the end of 2021, Country Garden had signed or delisted a total of 3,216 projects in mainland China, with business covering 31 provinces/autonomous regions/municipalities, 299 prefecture-level administrative divisions, and 1,425 counties/towns in mainland China. Equity saleable resources total about 1,484.6 billion. On the investment side, Country Garden adheres to the city’s deep ploughing strategy, has a balanced layout of cities of all energy levels, insists on unswerving investment standards, and seizes opportunities to acquire opportunistic land. During the period, Country Garden acquired 333 projects with a total land equity value of RMB 141.62 billion, of which 85% of the newly acquired land was located in the five major metropolitan areas. High-quality land reserves will strongly support the steady development of the company’s future performance.
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