Zhenro Properties Announces Interim Results 2021

• Published date: 23 August 2021
• Publication title: Xinhua Finance Agency

p class="Default" " Focus on High-Quality Growth p class="Default" " Profit Attributable to Owners of the Parent up by 33.1% p class="Default" " Deep Penetration in First- and Second-Tier Cities p class="Default" " Sound Financial Performance p class="Default" " Financial Highlights: table border="1" 0" RMB mn p For the six months ended 30 June p Changes p p 2021 p 2020 Revenue p 16,011 p 14,542 p +10.1% Profit for the Period p 1,504 p 1,275 p +18.0% Core profit sup1/sup p 1,541 p 1,312 p +17.4% Profit attributable to owners of the parent p 1,166 p 876 p +33.1% Core profit attributable to owners of the parent sup1/sup p 1,203 p 913 p +31.7% colspan="5" p p 2021.06.30 p 2020.12.31 p Changes Cash and cash equivalent p 44,450 p 42,973 p +3.4% Net debt to total equity ratio p 57.2% p 64.7% p -7.5pts Cash to short-term debt ratio p 2.2x p 2.2x p No Change Liabilities to asset ratio (Exclude contracted liabilities) p 72.4% p 76.6% p -4.2pts Short-term debt to total debt ratio p 28.5% p 29.1% p -0.6pts Weighted average cost of borrowings p 6.35% p 6.5% p -15bps HONG KONG SAR -Media OutReach- 23 August 2021-Zhenro Properties Group Limited ("Zhenro Properties" or "the Group"; stock code: 6158), a leading PRC property developer, announced its unaudited interim results for the six months ended 30 June 2021 (the "Period"). Results During the Period, the Group achieved a solid growth in results.

Its revenue increased by "N10.1% year-on-year to RMB"N16.01 billion. Profit for the Period was RMB"N1.50 billion, representing a year-on-year increase of "N18.0%.

Net profit margin went up to "N9.4%. The core profitsup1/sup was RMB"N1.54 billion, representing a year-on-year increase of "N17.4%.

Core profit margin was "N9.6%. "NThe profit attributable to owners of the parent increased significantly by "N33.1%"N year on year to RMB"N1.17"N billion; and the core profit attributable to owners of the parentsup1/sup"N increased significantly by "N31.7%"N year on year to RMB"N1.20"N million.

The Board has resolved not to distribute interim dividends for the six months ended 30 June 2021. "N Steady Growth in Contracted Sales In the first half of 2021, the impact of the novel coronavirus pandemic on the national real estate market gradually weakened, and the abundant liquidity continuously unlocked the previously accumulated essential housing demand. With the Group's precise project development plan, high-quality products, sufficient saleable resources and efficient sales and marketing...