Dear Shareholders
It is with great pleasure that I present to you
Yanlord Land Group Limited’s (“Yanlord” and
together with its subsidiaries, the “Group”) annual
report for the financial year ended 31 December
2015 (“FY 2015”).
FY 2015 was an exciting year for the Group
as we mark the start of our 10
th
anniversary of
listing with a record setting 127.0% increase in
pre-sales to RMB28.887 billion in FY 2015 as
compared to FY 2014. This strong growth in pre-
sales was achieved on the back of the recovery
of market sentiments in the 1
st
and 2
nd
tier cities
of the People’s Republic of China (“PRC”) as
well as our strategic direction to enhance asset
churn while maintaining the high-quality of our
developments.
As mentioned in my FY 2014 message, the real
estate sector remains a cornerstone in China’s
economic development. Against the backdrop of
China’s continued urbanisation and progressive
easing of austerity measures, Yanlord, with our
dedicated management team and our healthy
pipeline of project launches in prime locations
within the 1
st
and 2
nd
tier cities of the PRC stands
poised to benefit from the recovery of market
sentiments.
Looking ahead, we remain confident about the
outlook for the PRC real estate sector and I would
like to take this opportunity to share my views
on the sector as well as the Group’s sustainable
growth strategy and future development plans.
DEDICATED TEAM PAVING THE WAY FOR
GREATER MARKET TRACTION
Buoyed by the positive market environment in the
Group’s core markets of Shanghai, Tianjin, Suzhou,
Shenzhen and Nanjing, gross floor area (“GFA”)
delivered rose 39.6% to approximately 590,000
square metre (“sqm”) in FY 2015 as compared to
FY 2014. In tandem with the increased delivery,
recognised revenue for the Group rose 41.3% to
RMB16.581 billion in FY 2015. Underscored by the
Group’s strategic focus on high value developments
within the key areas of high growth 1
st
and 2
nd
tier cities, core profit attributable to owners of
the Company excluding the fair value gain on
investment properties and net foreign exchange
effects leapt 59.0% to RMB1.095 billion in FY
2015 from RMB689 million in FY 2014. Against
the backdrop of this strong core profit growth, the
Group continues to maintain one of the lowest
net debt to equity ratio within the PRC property
sector of 2.9%. Average selling prices (“ASP”) of
our developments grew steadily in FY 2015, in
particular, our projects in Shenzhen witnessed a
greater than 50.0% jump in ASP within a year of
launch on strong buyer demand.
Yanlord Rosemite,
Shenzhen
帿㖕➋䛎䂧㿋繠㖑
蔄㔩
5
