Aoyuan Achieves Contracted Sales of Approximately RMB10.7 Billion for the First 11 Months of 2014; Up 33% Y-o-Y
Date：2014-12-01
(1 December 2014 - 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 unaudited contracted sales totaling approximately RMB10.7 billion, with contracted gross floor area (GFA) amounting to approximately 1.2 million sq.m., representing y-o-y increases of approximately 33% and 36%, respectively, for the first 11 months of 2014. Average selling price amounted to RMB8,940 per sq.m., a similar level compared with the same period of last year. Commercial properties (including commercial apartments and shops) contributed approximately 49% of the total contracted sales.
In November 2014, Aoyuan recorded contracted sales of approximately RMB2.1 billion, with contracted GFA of approximately 264,000 sq.m., up approximately 57% and 86% y-o-y, respectively.
Aoyuan management commented, "Compared with the same period of last year, Aoyuan’s contracted sales for the first 11 months of 2014 recorded continuous increase. Moreover, the introduction of Huaxia Life Insurance Co. Ltd as a strategic investor raising capital of RMB1 billion by means of capital injection has further strengthened cash flows and is helpful to maintain the gearing ratio at a reasonable level. Aoyuan will step up efforts in December to achieve satisfactory annual sales performance."