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Aoyuan receives “BB+” global scale Long-term Issuer Credit Rating from Lianhe Ratings Global with Stable Outlook
 Date:2019-10-14

 

(11 October 2019 - Hong Kong) China Aoyuan Group Limited (“Aoyuan” or the “Company”; Stock Code: 3883) is pleased to announce that the Company has received “BB+” global scale Long-term Issuer Credit Rating from Lianhe Ratings Global (Lianhe Global), an international credit rating company.

 

According to the report from Lianhe Global, the Issuer Rating reflects Aoyuan’s continuous improvement in market position and brand recognition in the Chinese property market. The rating also considers Aoyuan’s adequate liquidity position and good access to the capital market funding.  The Stable Outlook reflects Lianhe Global’s expectations that Aoyuan would acquire new land in a measured manner, lower its financial leverage, and continue to improve its operating efficiency gradually by delivering projects under development at a pace more commensurate to its contracted sales growth, in order to boost its recognized revenues in the following 12 to 24 months. Lianhe Global thinks, Aoyuan’s land bank reached 40.1 million square meters GFA (81% attributable to the company) at end-June 2019, ensuring it is sufficient to support contracted sales target for the next 2 years. Aoyuan achieved total contracted sales of RMB78.6 billion in the first nine months of 2019, which placed it to the Top 30 property developers in China. Meanwhile, Aoyuan is able to keep its land cost under control with mergers and acquisitions (“M&A”) as primary land acquisition channel, which cumulatively contributed about 68% of the land bank in the past decade.

 

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About Aoyuan

China Aoyuan Group Limited (“Aoyuan” or the “Company”) is listed on the Main Board of The Stock Exchange of Hong Kong Limited, under the stock code 3883. It is a member of MSCI China Index, Hang Seng Composite LargeCap & MidCap Index, Hang Seng Stock Connect Hong Kong Index and Hang Seng Stock Connect Big Bay Area Composite Index. Aoyuan is named among “Forbes Asia’s Fab 50 2018” and “Fortune China Top 50 Board of Directors 2019”, as well as being included in “Fortune China 500” for three consecutive years since 2017. Aoyuan is a renowned property developer and a pioneer of composite real estate in China. Based in Guangdong with a focus on Guangdong-Hong Kong-Macao Greater Bay Area, Aoyuan has a strategic layout in South China, core regions of Central and Western China, East China and the Bohai Rim. As of 30 June 2019, the total GFA of its land bank was approximately 40.12 million sq.m. across 75 onshore and offshore cities. Leveraging on outstanding development and operation management and sound financial position, Aoyuan has maintained a growth rate higher than the industry average over the years, with a CAGR of 89% from 2016 to 2018. Aoyuan will continue to strengthen its strategy of “one core business with vertical development” to build a healthy lifestyle ecosystem.

 

For details, please visit the website of China Aoyuan: http://www.aoyuan.com.cn