(Hong Kong – February 26, 2018) Beijing Capital Land Ltd. (“BCL” or the “Company”, together with its subsidiaries (collectively the “Group”); stock code: 2868.HK), one of the leading integrated property developers in China, today announced the Group’s annual results for the year ended 31 December 2017.

In 2017, the Group’s revenue totaled RMB21.29 billion, representing an increase of approximately 4.6% compared with the previous year. Net profit attributable to owners of the Company reached RMB2.11 billion, up 4.0% YoY. Core net profit attributable to the owners of the Company was RMB2.31 billion, up 81.3% YoY. Basic earnings per share (EPS) totaled RMB0.67. The Board resolved to recommend the payment of a final dividend of RMB0.21 per share.

During the year, the Group ramped up deployment of key products in core cities and accelerated upgrade of high-end “Tian Yue” and “Xi Rui” product series, increasing both transaction volumes and prices. Total contracted sales reached RMB58.85 billion, up 22.7% YoY; the average selling price was over RMB23,000/sq.m., up 15.8% YoY. Contracted sales from the Group’s six core cities and Australia totaled RMB50.15 billion, accounting for 90% of the total; in non-core cities, the Group took advantages of favorable market conditions to exceed its annual sales target, reaching contracted sales of RMB5.70 billion, an increase of 135.1% YoY. At the same time, the Group strengthened in-house sales teams and achieved RMB17.2 billion in contracted sales from the teams, representing an increase of 60.7% YoY.

During the year, the Group achieved strategic upgrades in land investment, expanding investments from single cities to 3 metropolitan areas, namely Beijing-Tianjin-Hebei Region, Yangtze River Delta Region and Greater Bay Region. During the year, the Group made RMB36.76 billion of land investments for secondary property development, up 103% YoY. Investment in Beijing, Tianjin, Shanghai and Shenzhen doubled YoY to RMB31.1 billion, accounting for 85% of the total land investments. During the year, the Group Made RMB36.76bn land investments with an aggregate GFA of 3,187,000 sq.m., and newly added land bank totaled RMB70bn+ in value. The Group added 19 new projects, and successfully entered the Shenzhen and Hangzhou markets, acquiring the Longhua project in Shenzhen and the Yuhang project in Hangzhou. These two acquisitions also marked the Group’s expansions into the core metropolitan areas of the Guangdong-Hong Kong-Macau Greater Bay Area and the Yangtze River Delta. In addition, the Group actively acquired new high-quality projects through mergers and acquisitions. During the year, investment through M&A totaled RMB8.48 billion, effectively acquiring Tianjin “Tian Yue Hai He” project, Beijing Fangshan Liangxiang project and other projects. By the end of 2017, the land bank’s total GFA was 11.54 million sq.m.; total above-ground GFA was 8.93 million sq.m.; total value of land bank was RMB257.3 billion; 6 core cities accounted for 82% of the total.

In 2017, the Company continually expanded its business on primary land development, especially focusing on the Beijing-Tianjin-Hebei Region, and successfully shaped up a primary land development platform with over RMB100 billion in value. During the year, the Group acquired Beijing Beishicao Shantytown Redevelopment Project and Dongxiaokou Shantytown Redevelopment Project, with a total site area of 1.21 million sq.m., effectively replenishing the land resources in core cities. Leveraging on the Company’s state-owned enterprise background and the synergies with parent company the Beijing Capital Group, the Company has unparalleled advantages in the Beijing-Tianjin-Hebei Region and has acquired sufficient primary land resources. By the end of 2017, the Company had 7 primary land projects under development and also secured 11 projects with a total site area of 34 million sq.m. and a total GFA of over 22 million sq.m. The Company’s land bank for primary development tops peer developers owned by Beijing Municipal Government, mainly located in Beijing, Tianjin. The Company will also explore industrial property in Hebei and Xiong’an New Area. Leveraging on primary land development projects, the Company will strive to acquire over 60% of land plots for secondary development after primary land development, in order to provide continually support of low-cost land resources for future development. In past cases, the Company was able to acquire 80% of land plots for secondary property development after primary land development.

In terms of financing, besides the steady progress on A-share IPO plan, the Group also took advantage of favorable market conditions to successfully issue two tranches of offshore senior notes for an aggregate principle amount of USD500 million, and explored innovative financing channels including commercial mortgage-backed securities, successfully establishing a diversified and innovative financing strategy.

During the year, Beijing Capital Grand (stock code: 1329.HK), the commercial property arm of the Group, steadily implemented its strategic goal of deploying outlet projects in “Twenty Cities in Five Years”, and continued to expand the Group’s presence by acquiring the Kunming outlets project, and the A2 land plot of the Zhengzhou outlets project. The Group has now deployed outlet projects in 14 cities and remains No.1 nationwide in terms of the number of outlets deployed.