\n<\/p>\n
\n
<\/p>\n
HONG KONG
JY Grandmark positions itself as an
\u00a0<\/p>\n
During the Period, the
\u00a0<\/p>\n
The Group’s board of directors declared payment of an
\u00a0<\/p>\n
New Projects Meet
\u00a0<\/b><\/p>\n
During the first
\u00a0<\/p>\n
The Group targeted
Market Opportunity
\u00a0<\/b><\/p>\n
The Group believed
\u00a0<\/p>\n
In April 2021, the
\u00a0<\/p>\n
While acquiring the
\u00a0<\/b><\/p>\n
Diversified Business Portfolio Combined with the
\u00a0<\/b><\/p>\n
The Group
\u00a0<\/p>\n
Based on the
\u00a0<\/p>\n
Sound
\u00a0<\/b><\/p>\n
The Group
\u00a0<\/span><\/p>\n
Mr. Michael Chan, Chairman and Executive Director
\u00a0<\/p>\n
In such market environment, while sticking to the
\u00a0<\/p>\n
Looking into the future, the Group will further
\nSAR –\u00a0Media
\nOutReach<\/a>\u00a0– 19 August 2021 –\u00a0JY
\nGrandmark Holdings Limited<\/a><\/b> (“JY Grandmark<\/b>” or the “Company<\/b>“, which together with its
\nsubsidiaries, is referred to as the “Group<\/b>“, stock code: 2231), a
\nproperty developer and operator and property management service provider based
\nin the People’s Republic of China (the “PRC”), is pleased to announce the interim
\nresults of the Company for the six months ended 30 June 2021 (the “Period”).<\/p>\n
\n
<\/p>\n
\n“Eco-friendly and People-oriented Property Developer” and acquired land
\nreserves in strategic locations with abundant natural resources, rich culture
\nand potential for growth. The Group takes into account the natural and cultural
\nresources of its project site in the design of properties to develop homes and
\ncommunities that the Group considers to be truly liveable for buyers. This
\naccurate positioning differentiates the Group from other property developers in
\nthe PRC.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nGroup’s revenue amounted to approximately RMB1,042.8 million (1H2020: RMB924.7 million),
\nrepresenting a period-on-period increase of 12.8%. The Group’s gross profit amounted
\nto RMB412.1 million (1H2020: RMB404.5 million), representing a period-on-period
\ngrowth of 1.9%. Core net profit amounted to RMB167.5 million (1H2020: RMB193.8 million),
\nrepresenting a period-on-period decrease of 13.6%. Profit attributable to
\nowners of the Company amounted to RMB170.8 million\uff081H2020: RMB196.9 million\uff09, representing a period-on-period decrease of 13.3
\n%. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ninterim dividend of RMB3.63 cents per\u00a0ordinary share (1H2020:
\nRMB3.59 per ordinary share), which accounts for approximately 35% of the profit
\nattributable to owners of the Company.<\/span><\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nMarket Demand, Boosting Sales Significantly<\/b><\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nhalf year of 2021, the Group’s properties across China recorded approximately
\n197,000 sq.m. of contracted sales GFA, representing a significant year-on-year
\ngrowth of 97.0%, and approximately RMB2,486.4 million of contracted sales,
\nrepresenting a significant year-on-year growth of 128.2%. The growth was
\nattributable to the two new projects launched by the Group in the market, first
\nphase of both projects boosted the overall sales performance. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nurban residents of rigid demand and highlighted transmit-oriented development
\nand houses of high utilization rate to construct the new
\nproject located in Zengcheng Guangzhou, Jinke JY Grand Garden (\u91d1\u79d1\u666f\u696d\u96cd\u666f\u5712). It was the
\nfirst key project for the Group’s layout in eastern Guangzhou, all the units of
\nthe project were sold out on the debut day of the first phase with the
\nsingle-day order amount reaching RMB350 million. Another new project, JY Logan
\nJiuyun Mansion (\u666f\u696d\u9f8d\u5149\u7396\u96f2\u5e9c) in
\nLiuhe Districtof Nanjing, also had the superior location of core area in the
\ndowntown and enjoyed comprehensive facilities of metro, parks, commercial
\ncenters and medical services. In the first round of launch, the project offered
\nfine decoration residence of 115-140 sq.m. floor area per unit to first-time
\nhome buyers and up-graders, and recorded satisfactory sales performance, with
\nthe single-day order amount reaching RMB454 million.<\/p>\n
\n
\n
\n
<\/p>\n
\nArise for “Urban Renewal Business”<\/b><\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nthat the urban renewal business based on city planning and redevelopment will remain
\non an upward trend, and the Group will develop the urban renewal business as an
\nimportant driver of land bank expansion and business growth. Currently, the
\nGroup takes the Guangdong-Hong Kong-Macao Greater Bay Area as the core region
\nto actively explore the development of quality urban renewal projects.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nfirst urban renewal project the Group participated in, Zhujiang Village
\nRedevelopment Project in Huangpu District of Guangzhou, was inaugurated.
\nLocated in Huangpu District of Guangzhou, a district where the government
\noffered strong policy support to the urban renewal, the project is at the core
\nposition of the eastern Guangzhou’s urban development, has a total of
\napproximately 785,800 sq.m. floor area and approximately 265,000 sq.m.
\nfinancing area within the overall redevelopment scope, and, expectedly, will
\nstimulate the Group’s business.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nland of core position in the Group’s first urban renewal project of smooth
\nprogress, the Group will actively promote the materialisation of the other ten
\nprojects under research, further leverage its local advantages, consolidate the
\nprofessional advantages of cooperation partners, and acquire property projects
\nin core areas within reasonable costs, so as to boost the balanced growth of
\nsales volume and operating profit in the future.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nConcept of “Eco-friendly and People oriented Property” to Exploit Long-Term
\nAdvantages<\/b><\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ncontinuously developed its long-term advantages in home upgrading and vacation
\nproperty sectors and market segments. During the
\nfirst half year of 2021, the Company further developed target markets by
\nseizing the right marketing opportunities, applying the strategy of “internal
\nconsolidation and external expansion” and promoting projects to “go out”, and
\nstimulated the sales of home upgrading and vacation property projects in
\nGuangdong, Hainan and Yunnan provinces by improving the community experience
\nand the added value of products with the in-depth research of residents’
\ndemands and the innovative idea of creating the community culture. JY Uniworld
\nin Zhaoqing and JY Gaoligong Town in Yunnan province achieved improvement in
\nboth sales and brand reputation, and brought strong branding effect to the
\nGroup.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ndevelopment concept of “Eco-friendly and People-oriented Property”, the Group
\nexpanded the layout of core regions and urban projects in 2021, enriched the
\nproduct portfolio and offered the market diversified choices. It also broadened
\nthe horizon and further developed the market to improve the capital turnover
\nefficiency.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nFinancial Position Gained Recognition in the Capital Market<\/b><\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\ncontinuously perfecting its financial structure and further broadening its
\nfinancials channels, its stable financial situation and diversified financing
\nchannels enable the Group to achieve sustainable and high-quality development
\nunder the tightening industry background. In February 2021, the Company
\nsuccessfully issued 7.5% senior notes in an aggregate principal amount of
\nUS$155 million, including completion of the exchange offer of the existing
\nsenior notes amounting to US$137.5 million.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nof JY Grandmark said, “<\/b>In the first half of
\n2021, a series of policies including “three red lines” and “centralised land
\nsupply” have been introduced in China with the aim of achieving stable land
\nprices, stable home prices and stable price expectations, a new long-term
\nproperty market mechanism has gradually taken shape, that regulates the supply
\nside, the demand side and the financing side, maintains stability in the market
\nand at the same time raises the requirements of the financing, development and
\ncapital position of real estate companies. <\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nprinciple of “stability and progress”, the Group continued to meet the
\nrequirements of “three red lines” in the first half of 2021, promoted targeted
\nmarketing actions in different markets, and accelerated the sales conversion of
\nexisting land reserves. It further expanded the reserve of quality lands
\nthrough diversified channels, actively sought business breakthrough, enhanced
\nthe brand effect by cooperating with strong enterprises, took effective
\nmeasures to advance the upgrading of all business segments on the basis of
\nimproving the property business, and ultimately achieved the objective of
\nquality improvement and accelerating the speed of development.<\/p>\n
\n
<\/p>\n
\n
<\/p>\n
\nadjust and improve operation strategies, and ensure reasonable economic trend
\nprediction and market forecast from the macro perspective; from its own
\nperspective, it will stick to the prudent financial strategy, focus on cash
\nflow management, improve the capital turnover efficiency and lower the
\nleverage. In the meantime, the Group will refine the land strategy, improve the
\nproduct strategy and innovate the business strategy, to build a good brand
\nreputation and maintain the long-term development objective of “high growth,
\nhigh quality and high profit”.<\/p>\n