(Stock Code ： 1168.hk) 2007 Annual Results April 2008
Disclaimer The information provided to you in this presentation does not constitute, or form part of any offer for subscription of, or solicitation of any offer to subscribe for or to sell any securities of Sinolink Worldwide Holdings Limited (“Sinolink” or the “Group”) nor shall it form the basis of, nor can it be relied on, in connection with any contract or commitment whatsoever. Confidentiality The information provided to you in this presentation is given on a confidential basis and must not be passed to, or their contents disclosed to, any person (s) and no copy shall be taken thereof. 2
Contents Contents I. Sinolink Overview ……………………………………………………. 4 II. Financial Highlights ………………………………………………….. 6 IIl. Business Review …………………………………….……………..… 11 IV. Land Bank Acquisition Plans ………………………………………… 19 V. Appendix MWC Price/Volume Performance………..……..……… 23 3
Sinolink Overview Sinolink Overview � An experienced China-based premier property developer � Proven track record in developing large scale premier property projects in China � Strategically focused on maximizing profit through value-added approach � Listed on Hong Kong’s main board since 1998 4
Corporate Structure (As at Dec 31, 2007) Corporate Structure (As at Dec 31, 2007) Sinolink Worldwide Holdings Limited Sinolink Worldwide Holdings Limited (stock code:1168.hk) (stock code:1168.hk) Property Development, Investment & Management 80.00% 49.00% ROCKBUND Sinolink Properties Ltd. ROCKBUND Sinolink Properties Ltd. 35.00% 65.00% 100.00% 100.00% Mangrove West Sinolink Garden Shenzhen Sinolink Property Mangrove West Sinolink Garden Shenzhen Sinolink Property Management Co., Ltd. Coast Phase V Management Co., Ltd. Coast Phase V 5
Financial Highlights 6
2007 Annual Results - - Highlights Highlights 2007 Annual Results 2007 2006 Change (HK$ Million) +(-)% Turnover from continuing operations 2,921.6 2,326.7 +25.6% Gross Profit 1,936.8 1,215.2 +59.4% Gross Margin 66.3% 52.2% -- Net Profit from Continuing Operations before share of results of associates, 1,289.1 802.3 +60.7% property revaluation and gain on disposal Net Margin from Continuing Operations before share of results of associates, 44.1% 34.5% -- property revaluation and gain on disposal Net Profit Attributable to Equity Holders of the Company 1,167.1 962.4 +21.3% 7
2007 Annual Results - - Highlights Highlights 2007 Annual Results Change (HK cents) 2007 2006 +(-)% Earnings per share-basic 35.95 30.21 +19.0% From Continuing Operations 35.95 20.23 +77.7% Final Dividend per share (recommended) 3.5 3.5 - Interim Dividend per share Interim Dividend 3.0 3.0 - Special Interim Dividend 29.25* 33.5 - Bonus Share Issue # Note # - - Total Dividend per share 35.75 40 - * On 16 October 2007, the Board declared a special interim dividend to be satisfied by way of a distribution in specie of Enerchina shares held by the Company in the proportion of 13 Enerchina shares for every 20 shares held by the shareholders of the Company. The value of the special dividend is equivalent to 65% of $0.45 per Enerchina share at that time. # A Bonus issue of one share for every eight existing shares held 8
Capital Structure & Liquidity Liquidity Capital Structure & (HK $ Million) 31 Dec 2007 31 Dec 2006 1,859 516 Cash and Equivalent Current Assets 4,306 2,481 Total Assets 6,749 5,585 171 154 Short Term Borrowings 459 338 Long Term Borrowings Shareholders equity 4,064 3,829 Net Assets 4,542 4,147 Total Debt to Equity 15.5 % 12.8% Net Debt to Equity Net Cash Net Cash 9
Turnover Breakdown & Profitability Ratio Turnover Breakdown & Profitability Ratio TURNOVER BREAKDOWN Change 2007 2006 + (-) % (HK $ million) Property Sales 2,239.6 +26.0 % 2,820.8 71,836 GFA Sold (m 2 ) 97,559 Property Investment 17.1 15.3 +11.8 % PROFITABILITY RATIO 2007 2006 Gross Margin 66.3 % 52.2 % Net Margin 44.1 % 34.5 % 2007 2006 Return on equity 28.7 % 25.1 % Return on assets 17.3 % 17.2 % 10
Business Review 11
Mangrove West Coast Mangrove West Coast � Sold approximately 930 units by the end of 2007 � Sold approximately 177,000 sq.m . by the end of 2007, approximately 73,000 sq.m . remains to be sold � Price continues to see support, monthly average selling price grew from RMB 33,000/m 2 (end of 2006) to RMB48,000/m 2 (end of 2007) (see chart on next page) � The opening of Western Corridor in July 2007 shortens travel time and further increases interest in purchases ���������������� 12 12
Mangrove West Coast Mangrove West Coast Mangrove West Coast (MWC) Price Since its Launch in May 2005 50000 MWC average selling price has grown 140% since its launch 48000 46000 Latest price RMB 48,000/sq.m 44000 42000 End of 2006 40000 RMB 33,000/sq.m 38000 Launch Price in 2005 monthly ASP 36000 RMB 20,000/sq.m RMB 34000 32000 30000 28000 26000 24000 22000 20000 18000 Nov-05 Nov-06 Nov-07 Jun-05 Jul-05 Aug-05 Sep-05 Oct-05 Dec-05 Jan-06 Feb-06 Mar-06 Apr-06 May-06 Jun-06 Jul-06 Aug-06 Sep-06 Oct-06 Dec-06 Jan-07 Feb-07 Mar-07 Apr-07 May-07 Jun-07 Jul-07 Aug-07 Sep-07 Oct-07 Dec-07 13
Mangrove West Coast - - Economics/ TimeLine Economics/ TimeLine Mangrove West Coast Land Area : 75,102 sq. m AREA Total GFA : 255,857 sq. m � Residential : 249,591 sq. m. � Others : 6,266 sq.m. PRICE / COST Land Cost : RMB 3,300 / sq.m RMB 48,000/ sq.m Current Average Selling Price : UNIT INOFORMATION Number of Residential Units : 1,302 Unit Size : 2-6 bedrooms, ranging from 117 sq. m. – 512 sq. m. OTHER INFORMATION Parking Space : 1,755 Current Status : Being sold Selling Period : Mid-2005 to 2008 Occupancy Permit Granted : June 2006 14
Sinolink Garden Phase V Phase V - - The Oasis Plaza The Oasis Plaza Sinolink Garden � Construction of retail podium completed � Construction of residential towers completed � Some 25% of retail GFA have been taken up by anchor tenants � Office/ hotel tower to be completed in 2009 � Residential units ready for pre-sale in mid 2008 � Proposed exit location for Shenzhen Metro Station line 3 to increase convenience and appeal � Secondary market price of neighbouring Sinolink Garden Phase IV already at RMB 18,000 / m 2 to 22, 000/ m 2 15 15
Sinolink Garden Phase V Phase V - - Economic/ TimeLine Economic/ TimeLine Sinolink Garden Land Area : 40,786 sq. m. AREA Total GFA : 226,231 sq. m. � Residential: 133,752 sq. m. � Retail: 40,116 sq. m. � Office: 20,000 sq. m. � Hotel: 30,000 sq. m. � Others:2,363 sq. m. Land Cost : RMB 1,300 / sq. m. PRICE / COST No. of Residential Approximately 1,000 UNIT INOFORMATION Units : 86 sq. m. – 196 sq. m. Unit Sizes: Construction of retail podium and residential towers Current Status : OTHER INFORMATION completed Selling Period : Pre-sale in mid 2008 Anchor Tenant : Agreements signed with Multiplex Cinema Ltd, China Construction Bank and Pizza Hut as anchor tenants for retail property 16
ROCKBUND ROCKBUND � Restoration works on historic buildings already commenced, construction of new buildings to follow � Completion by the 2010 Shanghai World Expo on schedule � Construction of some 52,000m 2 of new buildings with maximum height of 60m requires no more than 18 months � Discussions with top tier brands already in progress 17 17
ROCKBUND – – Economic/ TimeLine Economic/ TimeLine ROCKBUND AREA Land Area : 18,000 sq. m. Total GFA : 94,080 sq. m. � Residential: 12,305 sq. m. � Retail: 33,137 sq. m. � Office: 33,336 sq. m. � Hotel: 15,302 sq. m. PRICE / COST Land Cost : USD 1,800 / sq.m. UNIT INOFORMATION Number of Residential Units : 28 Parking Space : 200 OTHER INFORMATION Current Status : Restoration works on historic buildings already commenced, construction of new buildings to follow Pre-sale in 2009 Selling Period : 18
Land Bank Acquisition Plans 19
Land Bank Acquisition Plans Land Bank Acquisition Plans Location – continue to focus on 1 st tier cities Greater Beijing Greater Beijing Beijing city centre and its 35 km vicinity Greater Shanghai Greater Shanghai Shanghai city centre and its 45 km vicinity ROCKBUND Shenzhen city and its vicinity Shenzhen city and its vicinity Shenzhen and cities within 2 hours driving distance (e.g.Dongguan and Zhongshan) Mangrove West Coast Sinolink Garden 20
Land Bank Acquisition Plans Land Bank Acquisition Plans Product and development strategy Product and development strategy � Two Types of Developments INNOVATION TYPE � Cutting edge leader in design, technology and concept – e.g. ROCKBUND, Shanghai PROVEN MODEL TYPE � Developed and repeatedly deployed concept – e.g. Sinolink Garden and Mangrove West Coast � Development Strategy � Focus on high end residential development � Increase exposure to retail and office property � In strategic locations in city centre – “Innovation” type developments � In city centre and its vicinity – “Proven model” type developments � Achieve highest absolute profit/m 2 through value added propositions 21
Appendix 22
Recommend
More recommend
