Peeking at the newspaper?

Leading the housing enterprise camp, Poly Development took the lead in handing over a quality and quantity answer sheet.

The mid-year report shows that in the first half of 2020, Poly Development achieved a total operating income of 73.706 billion yuan, a year-on-year increase of 3.6%; The net profit was 65.438+03.322 billion yuan, a year-on-year increase of 2.8%; Net profit returned to the mother1065438+24 million yuan, up 1.7% year-on-year.

In the semi-annual report, Poly Development summarized its performance as follows: effectively coping with the impact of the epidemic, its performance grew steadily, and its profit rate remained stable.

Indeed, steady growth is the consistent attitude of the development of central enterprises Poly. Through the turnover rate, profitability, and urban deep cultivation ability, we can better understand the secret of Poly's steady growth against the trend.

According to the mid-year report, the sales amount of Poly Development in the first half of the year was 224.5 billion yuan, and its sales scale ranked among the top four in the industry, and its market share increased to 3.4%.

Specifically, since the second quarter, Poly's development and sales have continued to improve. In April, the contracted amount increased year-on-year, and in May-June, the contracted amount increased by 10% year-on-year, of which the contracted amount in June reached 68.853 billion yuan, a record monthly sales volume.

Behind the steady growth of Poly's development and sales, it is the embodiment of its urban deep-ploughing ability.

During the reporting period, the sales contribution of 38 core cities where Poly focused on development reached 76%, among which the contracted sales of Pearl River Delta and Yangtze River Delta both exceeded 55 billion, and the sales proportion increased to 28% and 25% respectively. Guangzhou's sales amount exceeded 26 billion yuan, Foshan exceeded 654.38+05 billion yuan, Hangzhou, Nanjing and Chengdu exceeded 654.38+00 billion yuan, and Beijing, Shanghai and Qingdao exceeded 654.38+00 billion yuan.

It can be seen that Guangzhou, Foshan, Beijing, Hangzhou, Shanghai and other cities with deep development of Poly are all high-energy cities with net population inflow, which can provide strong regional purchasing power and give Poly a better commercial housing transaction advantage. The strong driving force of performance growth is also well presented in sales growth.

The soil storage structure more indicates the future growth ability of housing enterprises.

During the reporting period, Poly achieved 44 expansion projects in the first half of the year, with a new construction area of 9.84 million square meters and an expansion cost of 82 billion yuan. Compared with the same period of last year, the expanded area and amount increased by 65,438+09% and 54% respectively. By the end of the reporting period, the area to be developed was 67.27 million square meters, of which 38 core cities accounted for 58%.

Poly increased its position against the trend in the first half of the year. On the one hand, it benefits from the inherent advantages of central enterprises in financing costs. On the other hand, rich soil reserves ensure the continuous growth of subsequent performance. More importantly, Poly continuously improves the quality of soil storage.

In the new resource structure, the expansion of 38 core cities accounted for 86%, an increase of 7 percentage points over last year. During the period, the premium rate of Poly's development and expansion was 22%, which was the same as that of the same period last year. At the same time, through industrial cooperation, old reform, acquisition and other diversified expansion methods to obtain high-quality projects, effectively control the cost of land expansion.

From cultivating core cities+urban agglomerations to controlling land costs, the quality of soil storage developed by Poly is high or low. With rich soil storage, the next stage of development of Poly will usher in a sustained and stable rising landscape.

The steady growth of performance, on paper, is the strong growth of profitability.

The mid-year report shows that in the first half of 2020, Poly Development achieved a total operating income of 73.706 billion yuan, a year-on-year increase of 3.6%; The net profit was 65.438+03.322 billion yuan, a year-on-year increase of 2.8%; Net profit returned to the mother1065438+24 million yuan, up 1.7% year-on-year. The weighted average return on equity is 6.23%, which ranks in the forefront of the industry.

The most important sources of profit are cost control and premium growth. In terms of cost, the development of Poly depends on cost control.

During the reporting period, the sales expenses of Poly Development in the first half of 2020 decreased by 4.87 percentage points year on year; Management expenses only increased by 2.84 percentage points.

At the same time, the inventory turnover rate of Poly Development is in the forefront of the industry. According to public data, as of June 30, 2020, the inventory turnover rate of Poly Development was 0.08 times/year, ranking among leading real estate enterprises. Poly develops high inventory turnover efficiency, saves expenses and costs, and can promote quality improvement and efficiency improvement to a certain extent.

The most direct manifestation of the effective control of the three expenses is the increase in profits. To a certain extent, we can also see that the competitiveness of energy efficiency of Poly Development Organization lies in its organizational ability, which has also become the driving force for the quality growth of Poly Development.

At the same time, Poly Development seized the financing during the market interest rate window to achieve the effect of controlling financing costs.

During the reporting period, Poly Development issued a total of 4 billion yuan of corporate bonds and 4.5 billion yuan of medium-term notes, both of which were at a low level in the market during the same period, and reserved long-term development funds at low cost.

In terms of premium promotion, Poly develops outside the main business of real estate development, cultivates the marketability of the two-wing business, supports the development of the main business, and opens up new scale and profit growth points.

For example, during the reporting period, Poly Real Estate's net profit was 4,654,380+0,000 yuan, a year-on-year increase of 28%; The sales scale of agent brokers exceeds 230 billion yuan; The commercial management area reached 2.87 million square meters; The accumulated management scale of real estate finance exceeds 654.38+030 billion yuan.

Generally speaking, the improvement of Poly's profitability in the first half of 2020 is the superposition effect of its cost control, turnover rate improvement and business collaboration.

High sales growth and strong profits are all based on the premise of safe and steady development of enterprises. With the release of financing tightening signal, the first security of enterprises is cash security.

By the end of the reporting period, the interest-bearing liabilities of Poly Development were RMB 30,265,438+0 billion, and the comprehensive cost of interest-bearing liabilities was only about 4.84%, down 0. 1 1 percentage point from the beginning of the year. Monetary funds reached125.7 billion yuan, which was 1.96 times of short-term loans and debts due within one year, and the capital structure was safe.

At the end of the reporting period, the company's asset-liability ratio was 77.66% and the asset-liability ratio was 66.05%, which was at a low level in the industry. The financial situation was further optimized.

At the same time, Poly Development achieved a total sales return of 202.3 billion yuan in the first half of this year, with a return rate of 90. 1%, which is a safety mat for financial health.

Deeply cultivate the core cities, occupy the "financial safety zone" with rich and high-quality soil reserves, and diversified businesses become profit growth points ... Poly's development in the first half of the year is, as always, a story of steady development. With the improvement of industry concentration, the development of Poly, the vanguard of real estate central enterprises, will continue to bring surprises.