Corporate Newsletterjingruis.com › upload › 2019 › 12 › 19 › 1576719628982nhpq3.pdf19,293 21,512 0 10,000 20,000 30,000 40,000 0 15 30 Jan Feb Mar Apr May Jun Jul Aug Sep

Corporate NewsletterOct 2019

The Transition Gradually Takes into Effect, Jingrui PerformedStable in Interim Report 2019

According to the financial report 1H2019 of Jingrui HoldingsLimited, Jingrui got a general growth with contracted salesaccumulated to 10.136 Bn (a Y-O-Y growth 6.4%), revenue2.186 Bn, gross profit is approx. 567M million with a grossprofit margin of 25.9%. The net profit of Jingrui during thehalf-year of 2019 is 354M million with stable growth of 16.4%.

The transition of Jingrui was proved as successful and diversityalso plays an important role in the outstanding performanceof the company. As the beginning of the diversifieddevelopment layout, estate development is the main part ofJingrui’s revenue. The contracted sales make up 76.3% of thetotal revenue in 1st half year. Also, some real estatecorporates have been going through a drop under thecircumstance of strict regulation whilst Jingrui still keeps asteady growth.

Transforming from a Real Estate Developer into an AssetManagement Service Provider

Jingrui has been sticking to the large-scale asset managementmode since 2016. By focusing on the “Asset-light” fundoperation model, Jingrui Holdings has developed the coreability of “fundraising, investment in projects, post-investment project management and capital withdrawal” aswell as targeted on projects in first and second-tier cities andmetropolitan area. Jingrui Holdings has been transforminginto a value-digger.

Yan Capital Management, Jingrui Properties, JoyrideApartment, Carry Capital and Co-Fortune Capital, all the fiveplatforms coordinate with and empower each otherconsolidating industry external resources and arranginginternal resources which ensures steady development of theproperties segment whilst other segments are also gettingmore sophisticated. Diversified company layout helpsoptimize the corporate value.

The Promising Future: An Opportunity for Standing Out

YUE XIU Securities: Jingrui Holdings takes most of itscompleted business chain and “Asset-light” fund operation

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Stock Code 1862.HK

Closing Price HK$2.75

52-Week Stock Price Range

HK$1.81 – 3.02

Market Cap HK$3.78 billion

Issued Shares 1.40 billion

Date of Listing Oct 31, 2013

Source: HKEX, As of Oct 31, 2019

Business Update

Diversified Development Layout Gradually Takes into Effect, Jingrui’s Performance Stays Stable

Stock Information

业绩摘要Results HighlightResults Highlight

1st half of 2019

Revenue RMB2.19 billion

Gross Profit RMB567 million

Net Profit RMB354 million

Total Asset(as of 30, June)

RMB54.61 billion

Contracted Sales

RMB10.14 billion

Contracted ASP RMB21,168/sq.m.

联络我们Contact usContact us

Jingrui Holdings

Ms. Faye Fang, IR Manager

Tel: +852 2327 6858

Email: [email protected]

New Smile Limited

Ms. Kristy Tsang, Associate Director

Tel: +852 2530 8110

Email: [email protected]

Scan the QR CodeFollow Jingrui on Wechat

mailto:[email protected]:[email protected]

Corporate NewsletterOct 2019

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Business Update

model making it flexible for development and sales. The current product structure and layout has also beenoptimized after 3-4 years working on shifting from third and fourth-tier cities to first and second-tier cities. Besides,YUE XIU has adjusted the rating of Jingrui to Buy rating and raised the target price to HK$3.02.

On the one hand, given it is estimated that first and second-tier cities will attract more opportunities for real estateindustry in the future, Jingrui Holdings is expected to maintain a stable growth benefiting from its focus on first andsecond-tier cities. On the other hand, this is a great opportunity for Jingrui to stand out of other medium-sized realestate companies because of its large-scale asset management mode, also regarding traditional real estatecompanies have limited capital nowadays.

MagLink, One Architecture Re-define One District

The predecessor of MagLink, Lufa Plaza, also as the biggest urban renewal project of Shanghai in recent years, hasdrawn much attention due to its excellent location, extra architecture and ensured huge pedestrian volume. Therenewal of MagLink represents that as the proprietor, Carry Capital based on the thorough research of this marketand detailed strategic understanding settled the high-level layout, high-standard architectural design, high-qualityoperation and in the end started to dig value from the well-developed district.

After Breaking, establish “The Living Room of The City” to Achieve Balance Between Private Areas and PublicAreas

The location of MagLink is superb since it’s surrounded by Huamu Community which is equipped with high-endresidential communities and office buildings as well as the Longyang District which is the centre of the maglev trainsand No.4 metro line. Breakthrough: Dismantle walls and get through the north-south corridor to earn more publicspace accordingly. Establishment: MagLink opens the construction space as much as possible to the public andextends the original five-floor deserted space to public use. The space corridor makes it functional linking with bothoffice and commerce alongside.

Corporate NewsletterOct 2019

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Business UpdateA Representative of Six Architectural Aesthetics One Architecture Re-define One District

“Stone-laying”, The ups and downs of the volume, the lines of the façade and the commercials strengthen thesense of rhythm and form a natural pattern. “Green-loop”, Green Landscape enriches outside space. And theoutside of the architecture looks like a multi-dimensional vertical garden with respective space gardens. “MovingClouds”, The aerial corridor of the aerial layer runs through the whole building. The corridor is not only the link ofthe building but also connects with the interface of the city streets. “Flowing Water”, water defines the key of thevisual effect and the vertical digital water curtains which based on the background of stones or glass creates scenicvisual effects. Furthermore, the specular pool at the square and the water arch provide the entertainment forvisitors as well as the guidance of human traffic.

“Cohesion Field”, new design extends the atrium and the loss of partial space brings longer commercial line andhigher-valued commerce shops. “Arch”, when the mobile roof of the podium part is opened, it will transform intoan open-ended shopping centre. Regarding the five floors of outer space, it will transform into a small-sized placewhich can hold at least 100 people for exhibition, movie or fashion shows etc.

People-oriented, Re-construct Eco Circle Combine Functions, Intelligence and Efficiency

Renovated MagLink completed the transformation from a single functional hotel into a diversified architecturewhich includes office towers, co-working space, commercials and hotels. All parts support each other and therenovated commercials which intensively locate in the 2nd floor and B2 floor are designed as blocks and gather atthe atrium.

The Platinum Level by LEED and Silver Level by PARKSMART reflect a win-win of high-quality experience and low-cost operation.

Corporate NewsletterOct 2019

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19,72621,748

19,39820,941

22,585

26,508

19,42219,293 21,512

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10,000

20,000

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Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

Contracted Sales in 2018 Contracted Sales in 2019 Contracted ASP in 2018 Contracted ASP in 2019

Contracted Sales(RMB’00 million

Monthly Contracted Sales (Jan 2018 – October 2019)

Unaudited Operating Statistics for October 2019 Contracted Sales

Jingrui’s aggregated contracted sales (including contracted sales by joint ventures and associates) forOctober 2019 was approximately RMB2,175 million. The Company’s contracted GFA was appr. 101,113sq.m. The Company’s contracted ASP was appr. RMB21,512 per sq.m. For the ten months endedOctober 31, 2019, the Company’s aggregated contracted sales (including contracted sales by jointventures and associates) was appr. RMB17,530 million. The contracted GFA was appr. 830,812 sq.m.and the contracted ASP was appr. RMB21,100 per sq.m.

Contracted ASP(RMB/sq.m.)

About Jingrui

Founded in Shanghai in 1993, Jingrui Holdings Limited is one of the leading regional residential propertydevelopers in the Yangtze River Delta region of China. In 2017, Jingrui tapped into Beijing and Wuhanmarkets, extending its strategic footprints to four municipalities and 18 cities nationwide. Jingrui believes inreform and innovation, and the Company continuously optimizes its development and adjusts its strategicblueprint. The Company initially completed its strategic transition and upgrade based on the dual-drivermodel of “light assets” and “customers’ insight” in 2016. The model highlights the Company’s value designcapability with “customer insights” at its core, along with a fund operation mode. At present, Jingrui hasbuilt up a comprehensive platform with five businesses: Jingrui Properties, Carry Office, Joyride Apartment,Yan Capital, Co-Fortune Capital. By focusing on a refined asset-light operation, Jingrui can penetrate theentire industry chain, which pushes the Company to transform itself from a traditional residential developerinto an asset management service provider.For further information, please visit http://www.jingruis.com.

DisclaimerAll information contained in this newsletter is meant for your own reference only, and is not intended to, nor should it,constitute any investment advice. Any information contained in this newsletter, including those relating to contracted sales orland bank of Jingrui Holdings Limited (the “Company”), June be subject to change as a result of changes in the Company’sdevelopment, sales and investment processes and June not be consistently reflected in the Company’s financial reports. TheCompany expressly disclaims any liability for any of your loss or damage howsoever arising from or in reliance upon thecontents of this newsletter.