(4 July 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 recorded a 57% y-o-y increase in contracted sales to approximately RMB16.52 billion for the first six months of 2017, achieving 50% of its 2017 full-year target of RMB 33.3 billion. The contracted gross floor area (GFA) sold amounted to approximately 1,563,000 sq.m., representing a y-o-y increase of approximately 22%. The average selling price was RMB10,571 per sq.m..

 

In June 2017, Aoyuan achieved contracted sales totaling approximately RMB5.32 billion, with contracted GFA sold amounting to approximately 511,000 sq.m., representing y-o-y increases of 79% and 43%, respectively.

 

Aoyuan management commented, “Aoyuan maintained its robust growth in contracted sales throughout the first half of 2017, while achieving not only remarkable y-o-y growth but also m-o-m growth. Benefiting from Aoyuan’s rapid sales growth and solid credit profile, the corporate credit rating of Aoyuan was upgraded to ‘BB-’ and ‘B1’ by Fitch and Moody’s, respectively. Last month, the upgrade of its domestic corporate credit rating to ‘AA+’ by United Credit Ratings reaffirmed that Aoyuan’s profitability and comprehensive strength are well recognized by capital markets. Looking forward to the second half of 2017, Aoyuan will continue to step up their efforts in delivering satisfactory returns to our shareholders and investors.”