(3 January 2017 - Hong Kong) China Aoyuan Property Group Limited (“Aoyuan” or the “Company”, Stock Code: 3883), a renowned property developer in China, is pleased to announce that the Company achieved contracted sales totaling approximately RMB3.39 billion in December 2016, with contracted gross floor area (GFA) sold amounting to approximately 409,000 sq.m., representing y-o-y increases of approximately 59% and 63% respectively. In 2016, the Company recorded contracted sales of approximately RMB25.6 billion with a y-o-y increase of approximately 69%, and achieved approximately 151% of its full year target. 

 

In 2016, Aoyuan has made significant achievements in business expansion. A number of projects achieved excellent performance with each over RMB1 billion contracted sales recorded, including Guangzhou Aoyuan International Center, Foshan Aoyuan Prime Palace, Zhuhai Aoyuan Plaza, Chongqing Aoyuan Panlong Yihao and Chengdu Aoyuan Plaza. During the year, Aoyuan replenished quality projects in Guangzhou and Foshan, etc., and also established footprints in new cities, including Shenzhen, Chengdu and Ningbo.  Aoyuan has optimized its strategic land bank in the Pearl River Delta Region as well as first-tier and second-tier cities, laying solid foundation for further business expansion. 

 

Aoyuan management commented, "Aoyuan maintained its robust growth momentum in contracted sales throughout 2016 and achieved an approximately fivefold increase since 2012. Due to rapid sales growth, disciplined land acquisitions and a healthy financial profile, the credit rating outlook of Aoyuan has been upgraded to ‘Positive’ by the three major international rating agencies, namely Moody’s, S&P and Fitch, during the year. Recently Fitch has further upgraded the Company’s long-term corporate credit rating to ‘BB-‘, which reaffirmed the wide recognition and confidence by capital markets and the public. Looking forward to 2017, Aoyuan will maintain its growth at a rate above industry average while maintaining its steady land acquisition strategy and prudent financial management, thus delivering satisfactory returns to our shareholders and investors.”