China News Agency, Guangzhou, March 31 (Reporter Xu Qingqing) The annual performance disclosure of listed real estate companies has gradually begun. On March 31, China Evergrande released its 2019 annual results: it achieved contracted sales of 601.1 billion yuan (RMB, the same below), core profit of 40.82 billion yuan, an asset-liability ratio of 77.9%, a net debt ratio of 159.3%, and a cash balance of 2287.7 100 million yuan.

Ever since listing, Evergrande's debt has been at a high level in the industry. At the performance conference on the 31st, Chairman of the Evergrande Group's Board of Directors Xu Jiayin announced that Evergrande will start a strategic transformation from 2020 and fully implement the development strategy of “high growth, scale control, and debt reduction”. He stated that he would “use the greatest determination , The greatest efforts to reduce debt. "

Xu Jiayin introduced that "high growth" is to achieve sales of 800 billion yuan by 2020 and 1 trillion yuan by 2022. "Controlling the scale" is to strictly control the scale of land reserves and achieve negative growth in soil reserves. It will be reduced by about 30 million square meters per year in the next three years and by 2022 to about 200 million square meters. "Reducing debt" means reducing the interest-bearing liabilities by an average of 150 billion yuan each year, and reducing total liabilities to less than 400 billion yuan by 2022.

Evergrande Health continued to make losses after investing in the new energy vehicle business. Pan Darong, the chief financial officer of Evergrande Group, responded that a total of 14.7 billion yuan had been invested in the field of new energy vehicles, mainly for corporate acquisitions. It is estimated that in 2021 and 2022, related investments will total It will reach about 20 billion yuan. He said that such losses are temporary and temporary. It is estimated that in 2021 and 2022, the total investment will reach about 20 billion yuan.

Xu Jiayin said that Evergrande has formed four major industry sectors: real estate, health, cultural tourism, and new energy vehicles. It will no longer enter new industries in the next five years. He introduced that Evergrande's full range of Hengchi products will be mass-produced one after another in 2021. He stated that "14 vehicles are afraid to say that they are all explosion models, but I am confident that 8 to 10 of them will become explosion models." (Finish)