Country Garden financing costs dropped five consecutive years of record low

  Net operating cash flow is positive for two consecutive years of high growth is inseparable from the Country Garden balanced layout in the new urbanization process in China, and in the background the national classification regulation, in mid-2017, according to the target market points, a second-tier targets and Goal III sales of the Group's contribution to the four-wire half and half。   Country Garden Group benefited from early sufficient land bank, excellent internal management and high-turnover strategy group at time of rapid growth, strong financial performance data。
By the end of 2017, the weighted average cost of financing Country Garden fell 44 basis points to%, ending five consecutive years, the weighted average cost of financing down to the lowest level in history; net operating cash flow continued to be positive and excellent performance。 2017 cash withdrawn from circulation sales floor models billion yuan, the rate of return of 91%, net operating cash payment of land premium expenses, for projects such as net operating cash flow for the yuan, a continuation of the 2016 net operating cash flow is positive situation, so that the proper balance of operational efficiency and risk control。   At the same time, the report period, the Country Garden available cash of about one hundred million yuan, the highest level since the listing up, an increase of 54% in the tightening macro-control, short-term funds to repay increasing pressure situation, effectively ensuring the operation of a virtuous cycle bad, actively support the expansion of the scale。   There are about one hundred million yuan bank line of credit has not been used, adequate working capital, by the Fitch rating agency raised its corporate credit rating to investment grade, anti-risk ability to further strengthen。   Country Garden since listing, the financing has always stressed the "good long-short-term financing portfolio", continue to optimize the capital structure and maintain cash-rich at the same time, by accelerating turnover, strengthen their own "blood" function。
  Profit attributable to shareholders increased significantly% generally no increase in interest income at the background in real estate, the year 2017, Country Garden Profit attributable to shareholders million, core net profit billion, doubling year on year, reaching% and 106%, respectively。
Country Garden is expected, with further sales area has been delivered continued growth in future profits can be expected。   CICC research report issued in February, said Country Garden "new year, profit growth is explosive start," forecast 2017-2019 Annual Country Garden core net profit rose to 22.3 billion yuan, respectively, and 33.3 billion yuan 46.9 billion yuan, respectively, an increase of 86%, 49% and 41%, reflecting the 2016-18 contract year after year of rapid sales growth。
  The previous week, Morgan Stanley research report released forecast compound annual growth rate Country Garden 17 years to 19 years at 60%。 Given the high turnover and market integration Garden, and raised its target price 56% to HK $ 19, was upgraded to Outperform。   High-quality growth won multi-party recognition, mid-2017, Country Garden also successfully among the "Fortune" Global 500, Hang Seng Index constituent stocks。
  Benefit from earnings growth, dividend increased dramatically in mid-2017 Country Garden, declared a final dividend per share divided, the total annual dividend per share points, an increase of%。   Year of the Rooster, Country Garden led the blue chips, rose more than 200%, significantly outperforming the broader market's 40 percent rally, the biggest blue-chip rate of increase between 2017 Lunar New Year。
Country Garden shares in the last 24 trading days has risen more than%, to March 19 closing price of HK $, led within the housing stock。