CDB International Group: Gross profit margin will drop by 8.69 percentage points year-on-year in 2021, and total liabilities will rise by nearly 60%

2022-06-20 0 By

C&d International Investment Group Co., LTD. (c&D International Group, 198.HK) announced the annual results as of December 31, 2021, c&D International recorded revenue of 53.442 billion yuan in 2021, an increase of about 25.03%;Gross profit was about 8.736 billion yuan, a year-on-year increase of about 19.02%;Gross margin 17.17%, down 8.69 percentage points;Net profit of 2.768 billion yuan, up 38.56% year on year;Net interest rate 6.48%, down 4.63 percentage points year-on-year;Profit attributable to equity holders of the group was about 3.517 billion yuan, up 51.48% year-on-year.By the end of the report, CDB’s assets totaled 183.424 billion yuan, up 58.69% year-on-year.Among them, current assets totaled 172.222 billion yuan, up 62.47% year on year, and current assets accounted for 93.84%, up 2.18% year on year;Monetary funds totaled 27.993 billion yuan, up 142.11% year on year.In terms of liabilities, by the end of the period, the total liabilities of the company were 146.072 billion yuan, up 52.19% year-on-year, and the asset-liability ratio was 79.64%, down 3.4% year-on-year.In addition, current liabilities totaled 95.717 billion yuan, up 65.99% year on year, and current liabilities accounted for 65.53%;Non-current liabilities totaled 50.355 billion yuan, up 31.43% year on year.In terms of property sales, the group’s revenue from property development amounted to about RMB52.575 billion, accounting for about 98% of the group’s total revenue.During the year, the total gross floor area of the properties delivered was about 3,481,400 square metres, representing an increase of about 953,700 square metres over the previous financial year.In addition, in 2021, other segments mainly include revenue from agent construction services, commercial asset management and other revenues, and the total external revenue of these other segments is about 867 million yuan.The annual report disclosed that during the period, the group, together with its joint venture company and associated companies, realized the accumulative contract sales amount of shareholders’ rights and interests of the company was about 13.392 billion yuan, up by about 100.90% compared with the previous fiscal year. The accumulative contract sales area of shareholders’ rights and interests of the company was about 6.826,900 square meters.An increase of about 104.29% compared with the previous financial year.As of December 31, 2021, the Group’s land bank has a total saleable area of about 19.4443 million square meters, with a total of 218 projects in China and Australia.In addition, the Board recommends the payment of a final dividend of HK $1.20 per share, to be paid in cash, provided that eligible shareholders will have the option of receiving the final dividend in the form of new shares in lieu of some or all of the final dividend cash.As for the development of 2022, the management of CDB International Group stated in the annual report that the group will take the initiative to adapt to the national policy and direction, adhere to the quality of growth, maintain the balance of growth, benefits and risks;Implement long-term mechanism, prudently operate plan, focus on long-term steady development;Enhance the core competence of the main business of property development and maintain the competitive advantage of the real estate industry chain.The group will also expand its business base and influence in the industry chain, and strive to become the leading “real estate development and real estate industry chain comprehensive investment service provider” in China.