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Yanlord Land ($1.12, unchanged) announced the unaudited key operating figures of (i) the Group together with its joint ventures and associates; and (ii) other property development projects under the Group’s project management business bearing the “Yanlord” brand name, for the month of September 2021 and for the nine months ended 30 September 2021.

In September 2021, the Group together with its joint ventures and associates’ total contracted pre-sales from residential and commercial units, and car parks amounted to approximately RMB2.869 billion on contracted gross floor area (“GFA”) of 102,946 square metres (“sqm”), a decrease of 47.1% and 35.3% respectively compared to the corresponding period of 2020.

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For the nine months ended 30 September 2021, the Group together with its joint ventures and associates’ total contracted pre-sales from residential and commercial units, and car parks was approximately RMB36.770 billion on contracted GFA of 1,184,291 sqm, a decrease of 30.9% and 17.7% respectively compared to the corresponding period of 2020.

In addition, a total of approximately RMB3.057 billion of subscription sales of the Group together with its joint ventures and associates was recorded as at 30 September 2021 and is expected to be subsequently turned into contracted pre-sales in the following months. In September 2021, the total contracted pre-sales of other property development projects under the Group’s project  management business bearing the “Yanlord” brand name was approximately RMB348 million on contracted GFA of 10,506 sqm.

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For the nine months ended 30 September 2021, the total contracted pre-sales of other property development projects under the Group’s project management business bearing the “Yanlord” brand name was approximately RMB11.622 billion on contracted GFA of 251,792 sqm.

The aggregate contracted pre-sales in these five cities (Nanjing, Suzhou, Shanghai, Zhuhai, Tianjin) of approximately RMB21.887 billion, accounted for approximately 59.4% of the total contracted pre-sales of the Group together with its joint ventures and associates for the nine months ended 30 September 2021.

As at 30 June 2021, the Group’s total asset was approximately RMB156.020 billion. Yanlord Land Group’s market cap stands at S$2.16bln and currently trades at 3.9x P/E and 0.4x P/B. Dividend yield stands at 6.0% and consensus target price stands at S$1.00, representing 10.7% downside from current share price.