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2018
Annual Results Highlights:
HONG KONG,
CHINA - Media OutReach - CIFI Holdings (Group) Co. Ltd.
(“CIFI” or the “Group”, HKEx stock code: 884), a leading
real estate developer engaged in the property development and investment
business in the first-, second- and robust third-tier cities in China, is
pleased to announce its annual results for the year ended 31 December 2018.
Mr.
Lin Zhong, Chairman and Executive Director of the Group said, “due
to the stringent real estate controls and tight liquidity environment in 2018,
land prices in second- and strong third-tier cities have shown dramatic
corrections. We believe that these city segments will offer attractive
investment opportunities in the medium and long term, especially in the more
challenging industry environments.”
“CIFI has always been pursuing sustainable, rapid and quality growth. We
have set an initial contracted sales
target for the full year of 2019 at RMB190.0 billion, representing an
increase of 25% from the contracted sales in 2018. Supply of saleable resources are estimated to amount to over RMB350
billion for the full year of 2019. Based on our abundant saleable resources
and conservative sell-through assumption, we are confident of achieving our
2019 yearly sales target. We are confident that our massive and well
diversified portfolio of saleable resources acquired at reasonable land costs
will be defensive in the current tight real estate environment and will provide
substantial upside potential when real estate policies become favourable again
in future.” Mr. Lin concluded.
Headquartered in Shanghai, CIFI is one of China’s top real estate developers. CIFI principally focuses on developing high-quality properties in first-, second- and robust third-tier cities in China. CIFI develops various types of properties, including residential flats, office buildings and commercial complexes.
To learn more about the Company, please visit CIFI’s website at: http://www.cifi.com.cn
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