Poly Property (00119) announced its annual performance, with a net profit attributable to shareholders of HKD 183 million, representing a decrease of 87.34% compared to the previous year. It plans to distribute a final dividend of HKD 0.21 per share.

Poly Property (00119) announced its annual results for the year ending December 31, 2024. The group's revenue was RMB 40.208 billion, a decrease of 1.77% year-on-year; net profit attributable to shareholders was RMB 1.83 billion, a decrease of 87.34% year-on-year; earnings per share was 4.79 cents; proposed final dividend of 2.1 Hong Kong cents per share. Poly Property Group (including its joint ventures and associated companies) completed contract sales of RMB 54.2 billion for the year, an increase of 1% year-on-year, making it one of the only two listed companies in the top 20 of China Real Estate Sales Ranking to achieve growth. The total sales amount for the year ranked 17th in the industry, a leap of 10 spots from the end of 2023. Sales in the Yangtze River Delta and Greater Bay Area accounted for 73% of the total, an increase of 6 percentage points year-on-year, reflecting the further concentration of resources towards high-energy cities in recent years. Sales funds collected during the year amounted to RMB 54.8 billion, with a collection rate of 101%. The scale of sales reflects market competitiveness, while the quality of collection ensures financial stability - both are crucial aspects. Given that the market is still in the bottoming-out stage, the group maintained a cautious investment strategy, adding six new real estate development projects throughout the year in Shanghai, Ningbo, Shenzhen, and Jinan. It is believed that these projects and city teams can maintain shareholder investment and achieve ideal liquidity even during a period of industry consolidation. The delegated construction business achieved excellent results once again, with the Guizhou Yulu Lake delegated construction project realizing its first opening in the same year, achieving an 80% clearance rate. Regional companies are encouraged to leverage corporate brands and operational capabilities, actively exploring a light asset model and diversifying income. In January 2025, the group competitively acquired a land plot on Luju Road, Liwan, Guangzhou at the base price, intending to create flagship products and steadily strengthen its development foundation.