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78.3 Billion Yuan of Core Net Profit: Evergrande Ranks Top Again, Supported by High-level Development

 Date:2019.03.26   Publisher:Evergrande Group

On March 26, Evergrande Group (HK.3333) released its annual performance in 2018, showing that Evergrande ranks first in several core indicators in the industry: the core net profit jumped 93.3% to 78.32 billion yuan. The net profit soared to 72.21 billion yuan, by a significant year-on-year growth of 106.4%, gross profit of 168.95 billion yuan by 50.5%, with the continuous trend of high-level development. The turnover reached 466.2 billion yuan, a remarkable year-on-year growth of 49.9%. The total assets reached 1.88 trillion yuan, and the net assets 308.6 billion yuan, and cash balances 204.2 billion yuan.

Since its strategic transformation in 2017, Evergrande has expanded its scale moderately, and focused on the quality of growth, which is perfectly demonstrated by the remarkable increases in its profit indicators. According to its 2018 Annual Report, the core net profit jumped 93.3% to 78.32 billion yuan, and the core profit rate increased by 3.8 percentage points to 16.8%. The net profit soared to 72.21 billion yuan by a significant year-on-year growth of 106.4%, and the net profit rate increased by 4.2 percentage points to 15.5%. The gross profit reached 168.95 billion yuan, a year-on-year increase of 50.5%, and the gross profit rate increased by 0.1 percentage point to 36.2%.

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