Chinese Property Developers 2020 Annual Results Announcement Review: Marching Forward Amidst Turbulence

Lianhe Ratings Global Limited (“Lianhe Global”)’s rated Chinese property entities achieved 2020 annual results with an average growth of 24.5% in contracted sales, together with 14.7% and 5.4% on average increase in total revenue and core net profit, respectively. Also, the developers’ deleveraging efforts were demonstrated as their average net gearing ratio dropped from 84.7% in 2019 to 76.0% in 2020, while the average financing costs varied in 2020.