CFLD has several breakthroughs in many performance indicators. Photo: Courtesy of CFLD

China Fortune Land Development (CFLD) released the semiannual report for 2019 on Friday. In the first half of 2019, CFLD was attributed to the net profit of shareholders of listed companies of 8.48 billion yuan ($1.2 billion) with a year-on-year increase of 22.4 percent. Its operating income is 38.73 billion yuan with an increase of 10.7 percent. The total assets are 457.07 billion yuan, with an increase of 11.6 percent. In the past five years, CFLD has attributed a net compound annual growth rate of 35 percent to the shareholders of listed companies, fully demonstrating the strong vitality of the CFLD industrial new city model.

The report shows that in the first half of 2019, CFLD made several breakthroughs in many performance indicators. The consolidated gross profit margin was 48.7 percent, and posted a 2.9 percent jump year-on-year.  The overall net profit margin was 21.1 percent, with an increase of 2.1 percent year-on-year. The cash return rate jumped sharply from 46 percent in the same period last year to 62 percent this year.

In the first half of this year, CFLD's financing continued to improve. During the reporting period, CFLD's new financing was 63.26 billion yuan, of which 52.99 billion yuan was for non-real estate project financing, accounting for 84 percent.

CFLD adheres to the core metropolitan area strategy. On the basis of focusing on the Beijing-Tianjin-Hebei region, it has densely distributed its business around the Yangtze River Delta metropolitan area. It's also accelerating the distribution in the Guangdong-Hong Kong-Macao Greater Bay Area and promoting the distribution of Zhengzhou Metropolitan Area, Wuhan Metropolitan Area and Chengdu Metropolitan Area.

According to the report, the sales volume outside Beijing was 37.56 billion yuan, a year-on-year increase of 16.82 percent. It takes 58.21 percent of the company's total sales, which increased significantly from 39.94 percent in the same period of last year.

In 2018, CFLD transferred 100 percent stock equity and creditor's rights of the project company Beijing Wusheng Technology Co., Ltd. to Ping An Life Insurance for 5.82 billion yuan. This project is the first cooperation project between CFLD and Ping An, marking the beginning of CFLD developing its commercial office and related new business in asset management output. It reflects Ping An's full trust and high recognition of CFLD's operation and management capabilities. The cooperation between the two parties will continue to advance in the future.