Shanghai Lujiazui Finance & Trade Zone Development (600663) investor relations material

Executive summary

• Q3 revenue fell 60.40% YoY to RMB 2.154bn and total profit fell 40.14% to RMB 233.4m; 9M attributable net income rose 24.64% YoY to RMB 1.323bn.

• 9M revenue declined 14.83% YoY to RMB 10.253bn, while adjusted attributable net income increased 23.32% to RMB 1.319bn.

Financial highlights

• 9M operating profit was RMB 1.792bn versus RMB 1.997bn YoY; net income was RMB 1.346bn versus RMB 1.412bn.

• 9M operating costs totaled RMB 8.612bn, down from RMB 9.943bn YoY; operating costs included RMB 4.765bn cost of sales and RMB 2.272bn taxes and surcharges.

• 9M investment income rose to RMB 270.6m from RMB 148.6m YoY, including RMB 226.2m from associates and joint ventures.

• 9M operating cash flow was RMB 7.144bn, down 6.15% YoY.

Segment performance

• Mature held properties totaled 3.852m sqm of gross floor area, including 3.594m sqm classified as mature properties at Sept. 30.

• Mature property occupancy included 74% for Shanghai Grade A offices, 61% for Tianjin Grade A offices, 87% for Shanghai R&D buildings, 96% for rental residences and 71% for hotels.

• 1–9M contracted residential sales area was 46,841 sqm; projects’ cumulative contracted area totaled 314,460 sqm against 343,627 sqm total saleable area.

• Among listed projects, Century Qiantan Tianyu had 99% sell-through, Century Qiantan Tianhui 97%, Lujiazui Taikoo Yuandi 89%, Chuansha Jinxiu Yunlan 88% and Century Zhen Di 80%.