On the afternoon of April 24, Gemdale Group (600383.SH) released its 2021 performance report.
In 2021, Gemdale Group will realize an operating income of 99.232 billion yuan, a year-on-year increase of 18.16%; the settlement area of real estate projects is 5,635,600 square meters, a year-on-year increase of 21.48%; the settlement income is 88.363 billion yuan, a year-on-year increase of 17.54%.
During the reporting period, Gemdale Group achieved a total contracted area of 13.77 million square meters, a year-on-year increase of 15.25%; the contracted amount was 286.71 billion yuan, a year-on-year increase of 18.15%.
Affected by the market downturn and the epidemic during the year, Gemdale Group’s project settlement scale and settlement gross profit margin in 2021 were lower than expected. The net profit attributable to shareholders of the listed company was 9.41 billion yuan, a year-on-year decrease of 9.5%, and the real estate business settlement gross profit margin was 19.65%.
In terms of land reserves, Gemdale Group invested 111 land parcels throughout the year, with a total investment of about 130.9 billion yuan and an equity investment of about 52.3 billion yuan. Investment in first- and second-tier cities accounted for 65%, of which the proportion of investment in first-tier cities with better market liquidity and higher security increased significantly to 34%. As of the end of the reporting period, the company has entered 78 cities across the country, with a total land reserve of approximately 63.98 million square meters and an equity land reserve of approximately 29.23 million square meters.
In terms of agency construction business, as of the end of 2021, Gemdale Group’s agency construction business has been deployed in more than 30 cities across the country, with nearly 90 management service projects, with a cumulative development and management area of over 15 million square meters, of which the cumulative value of residential projects exceeds 88 billion yuan. The investment scale of commercial projects exceeds 40 billion yuan, and the cumulative government construction area exceeds 4 million square meters.
Regarding the business plan for 2022, the board of directors of Gemdale Group stated that the company plans to start a new construction area of 6.34 million square meters and a completed area of 15.36 million square meters. At present, the market environment is still severe. With the successive implementation of loose policies in various places, the confidence of the market is gradually being restored. The company strives to maintain a stable sales scale throughout the year.
As of today’s close, Gemdale Group reported 13.77 yuan per share, up 2.68%, with a total market value of 62.166 billion yuan.
Source of cover image: Every drawing
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