Q3 report of CFLD: Operating income up 46.14% on a YOY growth
CFLD's operating income in the first three quarters of 2018 were 45.441 billion, up 46.14% year on year. Its net profit ratio was 17.45% and deposit received reached 152.5 billion, according to its 2018 Q3 report released on Oct 26.
The Q3 report shows that CFLD signed 17 PPP agreements, including 14 New Industry Cities projects and 3 Industrial Town projects. 13 of them are located outside the Beijing-Tianjin-Hebei region.
CFLD sales areas outside the Beijing-Tianjin-Hebei region are 4.43 million sq m, accounting for 46% of total sales areas, up 90% year on year. From January to September, sales areas in Nanjing, Zhengzhou and Hangzhou, as well as regions around the three cities, accounted for 13%, 11% and 7% respectively of the total sales areas.
The brief report of CFLD operation from July to September in 2018 illustrates that its industrial parks' revenue was 5.6 billion yuan ($806.93 thousand). In addition, CFLD's net cash flow in Q3 was positive for a consecutive two quarters. The rate of return increased to 8% from 7% in the first half of the year.
CFLD signed two equity transfer agreements with Ping An Asset Management and Ping An Insurance (Group) Company of China, Ltd. on Jul 10. Ping An Insurance decided to transfer 19.7% of its total shares (582,124,502 shares) to CFLD.
At the end of July, CFLD signed a strategic cooperation framework agreement with Ping An, becoming a major strategic partner. The two sides will strengthen cooperation in various areas including financial service, industrial cities and emerging industries.
CFLD has steady development and a bright future. It was given an AAA credit rating by several top credit assessment companies such as CCXI, United Ratings and Golden Credit Rating International, and a BB+ rating by Fitch Rating during the first three quarters of 2018.