CIFI’s contracted sales grew by 66% year on year to RMB 16.22 billion in January 2021

HONG KONG SAR - Media OutReach - 3 February 2021 -

• In January 2021, the Group achieved contracted sales of approximately RMB 16.22 billion, representing a YoY increase of approximately 66% (compared to January 2020). Contracted GFA amounted to approximately 990,400 sq.m..

• Contracted ASP was approximately RMB 16,400 / sq.m. in January 2021.

Land Acquisition

• In January 2021, the Group completed the following land acquisitions: 

Company News

• CIFI formed a 65:35 joint venture with Zhang Tai Holdings to develop residential a property project in Guangxi, accelerating the development of the Group's commercial and residential property development business in Guangxi, and further expanding its business presence in southern China and increasing the number of its property projects through acquisition there. Moreover, Ever Sunshine Lifestyle Services Group, a subsidiary of the Group, announced an acquisition of a 65% equity in the property management business of Zhang Tai, realizing the synergy between the brands of CIFI and Ever Sunshine.
• CIFI successfully issues senior notes with an aggregate principal amount of US$419 million. The senior notes are at a coupon rate of 4.375% and yield of 4.4% with a 6.25-year maturity period, which hit the record for the longest maturity period and the lowest coupon rate of the Group's offshore bond issuance. The issue attracts enthusiastic response, with total orders at peak time exceeding US$4.8 billion, which was over 11 times of the total issue size. 82% of total issuance is allocated to Asian investors, while the remaining 18% is allocated to European investors. The final allocation to institutional investors is 72% of total issuance. The proceeds of the note will be used for re-financing of the Group's existing indebtedness.
• The Lin family, the major shareholder of CIFI, increased its shareholdings in the Group by a total of 1.376 million shares, fully reflecting its strong confidence about CIFI's long-term development capabilities and the room for future growth in the stock price.
• CIFI and Peaktop Group jointly held a ceremony for their signing of a strategic cooperation agreement. According to the agreement, the two parties will utilize their resources and advantages to carry out in-depth and comprehensive cooperation in the further development of the property market of Dongguan based on the principles of equality and mutual benefit, resource sharing, and complementing each other with their respective advantages. The cooperation will enhance the core competitiveness of the partners and enable them to explore ways to develop for mutual benefit as they are planning to build a better life for the people in the Greater Bay Area.

• CIFI has a good start in several projects:


- Capitalizing on the upcoming Spring Festival, Hangzhou CIFI Zhaowen Huacheng Project sold 288 units with total sales value of RMB 860 million. Sales reached RMB 810 million with a sell-through rate of 93% on the day of the project launch. It conducted four additional sales launches within 68 days, recording cumulative sales of RMB 2.3 billion.

- Xi'an CIFI Legend Palace Project is located on the edge of the economic zone of Chanba Headquarters in Xi'an. It and Daming Palace in the north of the city and the commercial zone in the east of the city form a triad. In the first 8 days that sales were conducted, Xi'an CIFI Legend Palace Project succeeded in registering many home buyers despite the competition from low-priced residential units in the city because of its product strength and capability of building up a large customer base. The contracted sales at the project in January exceeded RMB 1.0 billion as home buyers were willing to pay a premium for the properties at the project. As a result, the project outperformed the market in sales.

• Hangzhou CIFI Metropolis Project, China's first BREEAM four-star dual-certified residence, has been started, indicating the recognition of CIFI's green technology products. BREEAM certification was founded by BRE (Building Research Establishment) in 1990. It is one of the world's earliest established, most widely used, most widely recognized, objective and comprehensive green building evaluation, rating and certification standards.
• CIFI's online sales mini-program, Xu Ke Jia, was officially upgraded. Xu Ke Jia is an online sales platform set up by CIFI. It provides customers with detailed and comprehensive online services like online viewing of show flats, online consultancy and enquires, VR viewing of show flats, mortgage calculator, hot news, online presale, property agents' recommendations, as well as online commission calculation. The annual transaction amounted to over RMB 13.8 billion, and the number of registered property agents reached over 560,000.
• As one of the first three shortlisted companies, CIFI acquired a 66% equity stake in the 354-mu Xinjin Station TOD project on 4 December 2020 and a 100% equity stake in the 283-mu Wenjiang Wansheng Station TOD (transit-oriented development) project on 5 January 2021, respectively, in Chengdu, Sichuan province. The acquisitions mark Chengdu CIFI's important step in the direction of the overall operation of property projects in a city that embraces the TOD concept, and the beginning of a new government-enterprise collaboration model for TOD development. In 2017, Chengdu mapped out its strategy for developing TOD projects. Since 2019, it has been developing TOD projects which have served as benchmarks worldwide and have set examples for the industry.