HONG KONG, June 6, 2016 /PRNewswire/ -- CIFI Holdings (Group) Co. Ltd. ("CIFI", or the "Group", HKEX Code: 884), one of the "Top 100 Real Estate Developers in China" is pleased to announce that contracted sales for May 2016 increased 157% year-on-year to RMB5.33 billion, with the contracted GFA was approximately 300,000 sq.m.
In May 2016, the Group's contracted ASP was RMB 17,700 per sq.m., up approximately 42% year-on-year.
From January to May 2016, contracted sales of the Group increased 204% year-on-year to RMB23.1 billion with a contracted GFA of approximately 1,326,000 sq.m., while contracted ASP from January to May 2016 was approximately RMB17,400 per sq.m., up approximately 41% year-on-year. During the first five month of 2016, contracted sales of the Group achieved 63% of its full year contracted sales target of RMB36.5 billion.
Land Acquisition
In May 2016, the Group has successfully conducted the following acquisitions. What's more, for the first time, the Group acquired land at reasonable cost and entered the market in Ningbo, the Zhejiang Province:
City |
Project |
Group's |
Intended |
Site (sq.m.) |
Total Excluding |
Group's |
Average Land sq.m.) |
Wuhan |
Hanyang District, Project Section B |
55% |
Residential Commercial |
103,822 |
481,010 |
1,190,500,000 |
4,500 |
Shenyang |
Hunnan District GN-GX-07-27 |
50% |
Residential |
33,108 |
66,217 |
53,470,000 |
1,615 |
Ningbo |
Yinzhou District |
100% |
Residential |
38,256 |
72,686 |
769,020,000 |
10,580 |
On 25 May 2016, CIFI's chairman, Mr. Lin Zhong, was awarded "Best IR by Chairman/CEO -- Mid Cap" organized by Hong Kong Investor Relations Association ("HKIRA") for two consecutive years for its excellence on financial performance, management, corporate governance, social responsibility, environmental responsibility and investor relations.
HKIRA advocates the setting of international standards in investor relations education and promotes best investor relations practices.
About CIFI Holdings (Group) Co. Ltd.
CIFI is headquartered in Shanghai and is amongst China's Top 30 Real Estate Developers. CIFI principally focus on developing high quality and end-users driven properties in first- and second-tier cities in China. CIFI's development projects cover various properties types including residential, office and commercial complexes. To learn more about the Company, please visit CIFI's website at: http://www.cifi.com.cn