FAQs
1. 2010年全年协议销售、营业额和股东应占溢利分别是多少?
-
自上市后，尽管市场波动，远洋地产仍能实现销售额年年创新高。我们非常高兴2010年协议销售额再创新高，达人民币216亿元，同比猛升51%，超过全年销售目标 20%。自2007年上市以来，公司实现协议销售额年度复合增长率52%。
2010年营业额较去年同期大升55%，达人民币137.2亿元。股东应占溢利同比大幅上升54%，达人民币24.4亿元。
剔除一次性收益，2010年股东应占溢利同比飙升67%，达人民币18.7亿元。
-
-
远洋的盈利可预见性很强，2010年的协议销售为2011和2012年锁定了人民币204亿元的收入。
5. 2010年的协议销售额主要来自哪些城市？预计将来增长的动力主要来自哪些城市?
-
公司2010年的协议销售额主要来自北京(36%)、大连(18%)、天津(13%)和杭州(13%)四个城市。
由于在二三线城市的协议销售额越来越高，我们预期在未来数年，销售面积的增长会成为我们销售额的主要增长动力。
-
-
远洋地产对财务和资本管理，秉持极为审慎的态度，维持资产负债表稳健。于2010年年底，我们手上的现金达150亿元人民币，净借贷比率是46%，处于健康水平。
于2010年年底，我们获得批准还没动用的授信额约为136亿元人民币。
-
-
于2010年12月31日，集团的土地储备达2,061万平方米，其中权益土地储备为1,859万平方米。权益土地成本为每平方米人民币3,157元。
-
-
于2010年12月31日，远洋已进入了16个经济快速发展的中国城市，土地皆位于市区优质地段或交通枢纽。土地储备分布为：
环渤海 (79%)：北京、大连、天津、沈阳、青岛、长春及秦皇岛；
长三角 (6%)：上海和杭州；
沿长江 (7%)：成都、重庆、武汉及黄山；
珠三角 (7%)：中山；
国际旅游岛 (1%)：三亚和海口。
-
-
集团主要通过参加 1) 政府招拍挂 和 2) 兼并与收购 以增加土地储备。
-
-
原则：随着城市化进程的加快，公司将重点拓展二、三线城市。
规模：基于增强的综合实力，适度加快土储扩充速度，以满足未来6-8年发展需求。
布局：积极布点沿海、沿长江经济带，拓展西南高增长区域，关注新兴和有特色的城市。
结构：以私人住宅开发为主，逐步加大投资性物业规模，并开始研究新产品，如：旅游、养老地产等。
-
-
先派集团土地开发人员深入城市研究，成果报开发管理委员会。确定土地目标后，设立项目公司拿地、开发。
由集团统筹派出项目总经理及财务人员，同时招聘当地优秀人力资源，本着本土化精神搭建团队，以使当地操作团队能深刻理解本地消费者的需求和喜好。
通过IT系统，统一管理、开发等各环节流程，整合和分享信息资源。
-
-
Sino-Ocean was able to deliver new high sales every year since listing despite market turbulence. We are very proud to have achieved record high contracted sales of RMB21.6bn in 2010, rose substantially by 51% year on year, about 20% higher than target. We were able to deliver CAGR of 52% in contracted sales since listing in 2007.
For the year ended December 31, 2010 revenue amounted to RMB13.7bn, up 55% year on year; profit attributable to equity holders of the Company rose remarkably by 54% to RMB2.44bn.
Profit attributable to equity holders excluding one off items increased dramatically by 67% year on year to RMB1.87bn in 2010.
4. How much revenue from contracted sales in 2010 was locked-in for booking in 2011 and 2012?
-
In 2010, we have locked-in contracted sales amount of RMB20.4bn for booking for 2011 and 2012.
-
-
In 2010, Beijing (contributed 36%), Dalian (contributed 18%), Tianjin (contributed 13%) and Hangzhou (contributed 13%) were the key sales contributing cities.
As more contracted sales are being contributed by Tiers 2 and 3 cities, we expect the increase in GFA sold will be the main growth driver of our sales in the next few years.
7. How much cash the Group has on hand? Is the Group financially sound?
-
Sino-Ocean practices very prudent financial and capital management. We maintained a strong balance sheet with RMB 15 billion cash on hand as at end of 2010. The net gearing ratio was at a healthy level of 46%.
As at end of 2010, the approved but undrawn credit facilities reached about RMB 13.6 billion.
8. What is the size of Sino-Ocean's land bank and the average land cost?
-
As of December 31, 2010 the Group's land bank registered an aggregate GFA of 20,608,000sqm, GFA attributable to the Group reached 18,588,000sqm. The average land cost was RMB3,157/sqm.
9. What is the breakdown of the Group's land bank?
-
As of December 31, 2010 Sino-Ocean Land's land bank was located at prime locations or transportation hubs in 16 high economic growth cities in China. Below is the breakdown:
Pan-Bohai Rim (79%): Beijing, Dalian, Tianjin, Shenyang, Qingdao, Changchun and Qinhuangdao;
Yangtze River Delta (6%): Shanghai and Hangzhou;
Along Yangtze River (7%): Chengdu, Chongqing, Wuhan and Huangshan;
Pearl River Delta (7%): Zhongshan;
International Tourism Island (1%): Sanya and Haikou.
10. What channels does the Company usually use for land replenishment?
-
The Group secures the acquisition of new projects through two main channels:
1) Public auction, tender and bidding;2) Merger and acquisition.
11. What is Sino-Ocean Land's new five-year development plan (2010-2015)?
-
Principles：To ride on the acceleration of urbanization, we aim to speed up developments in 2nd and 3rd tier cities.
Scale: To appropriately speed up land replenishment to satisfy the needs in the coming 6 - 8 years.
Strategic locations: Enter into more cities along the coastal and Yangtze River economic belts, as well as those high-growth regions in the Southwest. We will also target emerging cities and those with unique characteristics.
Product mix: Sino-Ocean will continue to focus on building private housing but will increase the scale of investment properties, and study new products such as vacation homes and retirement homes.
12. How do you manage the projects in new cities?
-
Upon completion of an in-depth study of the city, research team from the Group will compile and present a report to the Development Management Committee. Once a decision is reached on the land plot, a project company will be set up to acquire the land for development.
The Group will assign a project manager and finance staff to work with locally recruited talents, forming a team that understands the local culture and the needs and preferences of local customers.
Using an efficient IT system to unify the management and development processes and to consolidate and share information.