1

Logan Property Holdings Company Limited

2019 Annual Results Presentation 

March 2020

I. Results Highlights

II. Land Bank & Urban Renewal

III. Sustainable Development Strategies

IV. Outlook

Contents

2

2019 Results Highlights

2Urban renewal

A new growth engine

Abundant premium land bank with saleable resources of Rmb832.0bn(GBA: 82%)

Urban renewal saleable resources of Rmb400.6bn, target to contribute approx. 20% of core earnings in next three years

Urban renewal has become a new growth engine to cross cycles.

In 2019, attributable contract sales reached Rmb91.5bn (+ 31%) , achieved 108% of annual sales target.

Core profit attributable to owner of the company reached Rmb10.02bn(+42.7%).

Core profit margin of 17.9%, industry-leading profitability.

Proposed final dividends of HK45 cents per share. Proposed full year total dividends of HK83 cents per

share, approximate 40% of the core profit attributableto shareholders.

The company is a component of Hang Seng highdividend yield index.

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Note 1: Core profit is defined as profit excluding changes in fair value of investment properties and derivative financial instruments and the relevant deferred tax

Upgraded to Hang Seng Composite LargeCap Index Listed in Fortune’s Top 50 Best Board of Directors in

China, strengthen mechanism for professional managers, value co-creation and continue to improve products, services and ESG.

Nationwide geographic focus: GBA+ Yangtze River Delta metropolitan area + Southwestern city cluster

S&P and Fitch raised our credit ratings to BB. Net gearing of 67.4%, interest coverage ratio of 4X,

weighted financing cost of 6.1%. Diversified financing channels: US Senior Notes,

Offshore Syndicated Loans, Onshore Corporate Bonds & ABS.

Short term land saleable resources reaches Rmb431.4bn, sufficient to achieve attributable contract sales target in the next three years.

Locked in 80% of our expected revenuefor 2020

5Constituent of

Hang Seng High Dividend Yield

Index; Attractivedividends

3High

earning visibility

6Constituent of Hang

Seng Composite LargeCapIndex, entering a new era

of development

1Solid earning growth core profit exceeded

Rmb10bn

4Credit ratings upgraded

Diversified financing channels

Contract Sales GFA1 Contract Sales(Rmb mn) (‘000 sqm)

45.8%

49.7% 43.6%2017 2018 2019

GBA Region 938 1,824 3,337

Southwest

Region857 2,103 2,653

Yangtze River

Delta- - 143

Singapore - 36 73

Other Regions 631 438 709

26.0% 10.0% 10.3%0.8%1.0%

2.0%35.3%

47.7%

38.4%38.7%

41.5%

48.3%4,401

6,915+57.1%

2017 2018 2019

GBA Region 26,618 43,356 54,026

Southwest

Region7,736 19,821 25,530

Yangtze River

Delta- - 3,033

Singapore - 3,351 6,350

Other Regions 9,067 5,275 7,083

20.9% 7.3% 7.4%4.7%

6.6%3.1%17.8%

27.6%

26.6%61.3%

60.4%

56.3%

96,022

2,426

71,803

43,421

+33.7%

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Cross-regional growth

Contract Sales: Continued Steady Growth across Regions

Nationwide Geographic Mix：GBA+Yangtze River Delta+Southwest China

Contract sales surpassed Rmb10bn in 4 cities: Shenzhen, Huizhou, Foshan and Nanning. Nanning: No.1 with area sold and sales value

Yangtze River Delta: contract sales of Rmb3.0bn in 1st year of entry

Singapore: units sold rank top 3

Note 1: Contract sales GFA excludes area for car parking spaces.

16.7%17.3%

17.9%

10%

20%

2017 2018 2019

Core profit margin

27,690

44,137

57,480

0

6,000

12,000

18,000

24,000

30,000

36,000

42,000

48,000

54,000

60,000

66,000

2017 2018 2019

+30.2%

（RMB mn）

4,620 

7,655 

10,314 

0

2,000

4,000

6,000

8,000

10,000

12,000

2017 2018 2019

（RMB mn）

Revenue Core Profit1 Core Profit Margin

Core earnings surpassed Rmb10bnProfit model across cycles

+ 34.7%

5Note 1: Core profit is defined as profit excluding changes in fair value of investment properties and derivative financial instruments and the relevant deferred tax

19 20

38

22

17

40

45

3

5

15

0

20

40

60

80

100

2016 2017 2018 2019

interim final special（HK cents）

Total Dividend Per Share

35% 35%40% 40%

5% 5%

10%

0%

10%

20%

30%

40%

50%

60%

2016 2017 2018 2019

Annual Special

Dividend Payout Ratio1

Attractive and stable investment return

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Note 1: Dividend payout ratio = Total dividend /core profit attributable to shareholders

Debt Maturity Profile

Onshore Bank

Borrowings

27%

Onshore

Corporate

Bonds 31%

Offshore Bank

Borrowings

11%

Offshore Senior

Notes 31%

Debt Structure

Weighted AverageCost of Borrowing

6.1%

Total Borrowings: RMB69.7bn

Onshore: 58% Offshore: 42%

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Within One

Year 25%

One to Two

Years 33%

Two to Five

Years 42%

S&P and Fitch raised our credit ratings to BB

RMB40.7bn cash on hand, over 2.0 x one-year borrowings

I. Results Highlights

II. Land Bank & Urban Renewal

III. Sustainable Development Strategies

IV. Outlook

Contents

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Saleable Resources of RMB832.0bn, Focus on GBA/Yangtze River Delta /Southwest ChinaGBA Land Bank with saleable resources of RMB685.0bn, 82% of total Land bankShenzhen: saleable resources of RMB170.7bn, Shenzhen and adjacent areas: saleable resources of RMB377.5bn, representing 45% of total Land bank

GBA : Saleable Resources of RMB685.0bn(82% of total)

Hong Kong13.4 bn2%

Shenzhen170.7 bn25%

Huizhou102.7 bn15%

Dongguan104.1 bn15%

Zhuhai91.2 bn13%

Zhongshan48.8 bn7%

Foshan69.1 bn10%

Guangzhou42.1 bn6%

Zhaoqing19.6 bn3%

Other GBA Cities23.3 bn3%

Saleable Resources in

GBA RMB685bn

GBA685.0 bn82%

Southwest Region92.3 bn11%

Singapore11.0 bn2%

Yangtze River Delta9.9 bn1%

Other regions33.8 bn4%

Total Saleable Resources

RMB832bn

58.01m sq.m.

Saleable Resources RMB832.0bn

3,250亿

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RegionsGFA Land Bank

%(mn sq.m.) (Rmb bn)

Shenzhen 1.1 80.8 19%

Huizhou/ Dongguan 7.4 76.1 18%Guangzhou/ Foshan/

Zhaoqing 6.9 65.9 15%

Zhuhai/ Zhongshan 3.5 46.1 11%

Hongkong 0.1 13.4 3%

Other cities 3.3 23.3 5%

GBA-subtotal 22.3 305.6 71%

Southwest Region 9.1 71.7 17%

Yangtze River Delta 0.8 9.9 2%

Singapore 0.2 11 2%

Other regions 4.2 33.2 8%

Total 36.6 431.4 100%

Land Bank Geographic Mix

M&A & UrbanRenewal Projects

Land Bank

431.4bn36.67m sq.m.

400.6bn21.34m sq.m.

Optimized Land Development CycleAbundant land bank to achieve attributable contract sales target in the next three years

Total Saleable Resources

RMB832bn

58.01m sq.m.

Continuous Expansion of Land Bank through Multi-ChannelsNewly-acquired saleable resources in 2019: RMB239.2bnRMB70.2bn form Open Market by Auction, RMB169.0bn from Urban Renewal Projects

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Open Market(by auction)

Urban Renewal

Total Saleable

ResourcesRMB

239.2bn

Newly-acquired Saleable Resources in 2019

RegionsGFA Land bank

%(k sq.m.) (Rmb bn)

Shenzhen 148 9.4 13%

Foshan 512 7.4 11%

Zhuhai 405 6.8 10%

Zhongshan 75 0.9 1%

Guangzhou 160 3.7 5%

Jiangmen 166 1.3 2%

GBA-Subtotal 1,466 29.5 42%

Southwest region 3,395 30.7 44%

Yangtze River Delta 670 8.0 11%

Other regions 211 2.0 3%

Total 5,742 70.2 100%

Newly-acquired Saleable Resources in 2019 (Open market)

Continuous Expansion of Land Bank through Multi-ChannelsNewly-acquired saleable resources in 2019: RMB239.2bnNew saleable resources of RMB169.0bn from Urban Renewal Projects(91% in GBA). Newly acquired GFA around 10.49 million sqm in GBA.

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2019 New saleable resources in Urban Renewal

Shenzhen 2%

Zuhai 17%

Zhongshan

5%

Doangguan

31%

Guangzhou

23%

Huizhou 3%

Foshan 10%

Other Cities

outsite GBA

9%

No. of Cities (No.) 10 No. of Projects (No.) 78

GFA (mn sq.m.) 21.34 Saleable

Resources (RMB bn) 400.6

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Dongguan

95.5bn

Shenzhen

89.9bn

Huizhou

35.2bn

Guangzhou

38.4bn

Foshan

26.5bn

Zhuhai

68.4bn

Zhongshan

25.5bn

Other Cities

outside GBA

21.2bn

Saleable Resources of Urban Renewal

Urban Renewal: New growth engine, target to contribute approx. 20% of Core Profit annually in next 3 years As at 31 Dec 2019, high-margin Urban renewal saleable resources is RMB400.6bn, 95% in GBA International Metropolitan

Area. Features: high value, premium locations , short conversion cycle. Saleable resources of RMB289bn with right to

independent development in Shenzhen, Huizhou, Dongguan and Zhuhai.

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Shenzhen Logan Headquarters：Presales to be launched in 2021

Location OCT, Nanshan District, Shenzhen

Project Type Apartment, Commercial, Office

Site Area Approximately 38k sq.m

GFA & Value Total GFA around 270k sqm, saleable GFA

around 250k sqm

Saleable resources over RMB30 bn

Project Highlight Located at Shenzhen CBD, Metro Property

Acquisition Time 4Q2017

Location Huizhou Daya Bay Industriel Zone

Project Type Residential & Commercial

Site Area 313k sq.m

GFA & Value Total GFA around 1.8mn sq.m

Saleable resources around RMB27.3 bn

Project Highlight Near Shenzhen, Spillover effect of Shenzhen population and industrial transition

Acquisition Time Feb 2017

Huizhou Daya Bay Project

Valuable property projects: high quality metro properties in core cities

14 Metro Property Projects in Shenzhen

Acesite Park(玖龙臺)

Acesite Park(玖龙臺)

Century Center(世纪大厦)

Century Center(世纪大厦)

Acesite Mansion(玖龙玺)

Acesite Mansion(玖龙玺)

Logan Carat Complex (玖钻)

Logan Carat Complex (玖钻)

Fuyong Project 2(福永项目2 )

Fuyong Project 2(福永项目2 )

Fuyong Project 1(福永项目1 )

Fuyong Project 1(福永项目1 )

Shekou Free‐Trade ZoneProject

(蛇口自贸区项目)

Shekou Free‐Trade ZoneProject

(蛇口自贸区项目)

Logan Center（龙光总部中心）

Logan Center（龙光总部中心）

The Masterpiece(玖云著)

The Masterpiece(玖云著)

Fubao Project(福保项目)

Fubao Project(福保项目)

Acescene Park（玖悦台）Acescene Park（玖悦台）

Shangmeilin Project（上梅林项目）

Shangmeilin Project（上梅林项目）

Acesite Castle(玖誉府)

Acesite Castle(玖誉府)

Logan City(龙光城)Logan City(龙光城)

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Shenzhen: Mid to Long Term Railway Transit Planning

Tangwei Station(塘尾站)

Guanguang Station(观光站)

ShahuStation(沙湖站)

Baohua Station(宝华站)

Qiaocheng East Station

(侨城东站)

Baishilong Station

(白石龙站)

Hongshan Station(红山站)

FubaoStation(福保站)

Qiankeng Station (茜坑站)

ShangtangStation (上塘站)

NanyouxiStation

(南油西站)

ShangmeilinStation

(上梅林站)

JulongshanStation

(聚龙山站)

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ContentsI Results HighlightsII Land Bank & Urban RenewalIII Sustainable Development StrategiesIV Outlook

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Establishing a common development ecosystem, building a socially responsible and respected sustainable company

Long-term strategy, strong execution, continuous scale expansion

1996‐20001996‐2000 2001‐20052001‐2005 2006‐20102006‐2010 2011‐20152011‐2015 2016‐2020

Fifth 5 Years

A constituent stock of Hang Seng Composite LargeCap Index in 2020

First 5 Years Second 5 Years Third 5 Years Fourth 5 Years

Listed on the HKEX in 2013

Cross-region development

"One line, one circle" layout

Established in 1996

2021‐20252021‐2025 2026‐20302026‐2030 2031‐2031‐

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ESG

Management system

Excellent Products

Solidify professional managers mechanism, created value together, strengthen corporate culture and competitiveness.

Enhanced the quality of three major product lines of the Acesite, Sky and Jiangnan, build a nationally renowned healthy residential brand.

Continuously improves corporate governance and ESG system, to become outstanding corporate citizens.

Sustainable Development Strategy: Sound Management System Guarantees Future Development

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Enhance cohesion, motivation and value-creation

Corporate Culture

Combine external and internal resouces to solidify professional managers mechanism

Professional Managers Mechanism

Co-build and Co-win

Established a co-build and co-win mechanism, aligning the interests of shareholders and management

Management system: co-build and co-win, systematically increase core-competence

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SKY

Tang Dynasty Décor Chinese Classic Style

Acesite

Beautiful Natural LandscapeFinely Crafted Mansions

Jiangnan

Jiangnan StyleGentleman’s Hall

Excellent Products: three major product lines to build a national brand

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Sustainable Development Strategy: Create Long-term growth value

Fortune’s Top 50 Boards of Directors, entrepreneurial spirit and strong execution

SocietyWe cooperate with Logan Charity Foundation in

poverty alleviation, education, community and

voluntary service. In 2019, 30 public charity

projects were launched, with over 5,000 hours of

volunteer services.

Corporate Governance

While creating economic benefits, we care social

needs, follow transparent, healthy and fair

development values, pursue sustainable and

quality growth.

EnvironmentWe adopt green building design standards in

construction, strive to save energy, water and

material, reduce emission , achieve harmonious

coexistence with the environment.

Green product series , continuously improves products and services to build a national brand

A corporate citizen widely recognized by customers, employees, partners, society and the capital market

I. Results Highlights

II. Land Bank & Urban Renewal

III. Sustainable Development Strategies

IV. Outlook

Contents

22

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The 6th Five Year Plan Goal: A Leading Comprehensive National Property Developer

2016-2020

The fifth five year plan

Regional Penetration Strategy in GBA

Focus on property development

A Leading Developer in GBA

2021-2025

The sixth five year plan

National layout: GBA+ Yangtze River Delta metropolitan areas,

Southwestern China + Central China city clusters

Urban renewal to contribute about 20% of core profit

Increase in investment property as a long-term revenue driver

A national developer with leading comprehensive strength

Singapore

6%Yangtze River

Delta

6%

Southwest Region

19%

Other regions

9%

GBA

60%

Attributable Saleable Resources of RMB180.0bn

Attributable Saleable

Resources 1RMB

180bn

Year 2020: Stable Growth Across the Cycles

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CitiesSaleable

Resources %(Rmb bn)

Foshan 23.0 21%

Huizhou 20.6 19%

Shenzhen 17.4 16%

Zhuhai 15.4 14%

Dongguan 8.1 8%

Zhongshan 8.1 8%

Zhaoqing 4.4 4%

Guangzhou 3.7 3%

Other GBA Cities 7.3 7%

Total 108.0 100%

Greater Bay Area

Note 1：Internal Estimated Figures

Appendixes

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2019 % of Revenue 2018 % of Revenue YoY Change

（RMB mn）

Revenue 57,480 100.0% 44,137 100.0% 30.2%Gross Profit  18,133 31.5% 14,887 33.7% 21.8%Net Profit for the Year 11,563 20.1% 8,996 20.4% 28.5%Profit Attributable to Equity Shareholders of the Company 11,269 19.6% 8,288 18.8% 36.0%

Core Profit1 10,314 17.9% 7,655 17.3% 34.7%Core Profit Attributable to Equity Shareholders of the Company 10,020 17.4% 7,023 15.9% 42.7%

Earnings Per Share (EPS)

‐ Basic (RMB cents) 202.24  ‐ 147.95 ‐

‐ Diluted (RMB cents) 199.36  ‐ 145.69 ‐

Total Dividend per Share (HK cents) 83 ‐ 75 ‐

Appendix: Income Statement Highlights

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Note 1: Core Profit: Excluding changes in fair value of investment properties and derivative financial instruments and the relevant deferred tax

As at 31 Dec 2019 As at 31 Dec 2018 Change

（RMB mn）Total Asset 206,010 170,095  21.1%Equity Attributable to the Equity Shareholders 34,194 29,249  16.9%Total Equity1 42,994 36,746  17.0%Cash and Bank Balance2 40,705 35,717  14.0%Contract Liabilities  26,030 16,785 55.1%Total Borrowing 69,678 58,941  18.2%

Net Gearing Ratio 67.4% 63.2%

Appendix: Balance Sheet Highlights

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Note 1: Include NCI and PCS

Note 2: Include restricted and pledged deposits

Location Hongshan Station of Metro Lines No. 4 & 6

Type Residential

Site Area Approximately 47,000 sq.m.

Total GFA Approximate 209,000 sq.m.

Project Value At the top of the dual metro lines (Line

No.4 is in operation & Line No.6 is under construction) at Hongshan Station

Shenzhen-Acescene Park (玖悦台)

Appendix: 2020 Project Highlights

Location Guanguang Station of Metro Lines No. 6 & 13

Type Residential & Commercial

Site Area Approximately 152,000 sq.m.

Total GFA Approximately 760,000 sq.m.

Project Value At the top of the dual metro lines (Lines

No. 6 & 13 are under construction) at Guanguang Station

Shenzhen- Acesite Park(玖龙台)

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Appendix: 2020 Project Highlights

Huizhou - Logan City(龙光城)Location Daya Bay, adjacent to Shenzhen

Type Residential & Commercial

Site Area Approximate 1.7mn sq.m.

Total GFA Approximate 5.03mn sq.m.

Project Value

Logan’s biggest flagship project.

Adjacent to Shenzhen and near the metro station under planning. Various choices of transportation connecting Logan City and Shenzhen CBD

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Location Binhai District, Dongguan

Type High-rise residential & Villa

Site Area Approximate 73,000 sq.m.

Total GFA Approximate 289,000 sq.m.

Project Value

close to Binhai bay new area, a new growth engine near Dongguan, with multi-dimensional transportation and seamless connection between Guangzhou, Dongguan and Shenzhen.

Dongguan - Jiangnan Courtyard(江南大境)

Appendix: 2020 Project Highlights

Location Jinwan District, Zhuhai

Type High-rise residential & Villa

Site Area Approximately 133,000 sq.m.

Total GFA Approximately 360,000 sq.m.

Project Value

Located in Zhuhai Aviation new town, a new city center, enjoying the four landscapes of sea, river, wetland and park, with superior ecological environment

Zhuhai-Glory Bay(玖誉湾)

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Location Liangqing District, Nanning

Type High-rise residential & Villa

Site Area Approximately 108,000 sq.m.

Total GFA Approximately 439,000 sq.m.

Project Value

located at the Bank of Wuxiang Lake in Wuxiang new district. It takes the flourishing Tang dynasty culture as source of innovation, an ecological city model integrated into nature.

Nanning-Sky Win(天瀛)

Location Jihua West Road, Chancheng District, Foshan

Type Residential, Apartment, Commercial

Site Area Approximately 82,000 sq.m.

Total GFA Approximately 730,000 sq.m.

Project Value

The only 700,000 ㎡ large-scale subway complex project in the Ludao Lake area, with one-stop entertainment, F&B, shopping facilities

Foshan - Acesite Park(玖龙台)

Appendix: 2020 Project Highlights

Location Jiashan Residential District Hehe

community

Type High-rise residential

Site Area Approximately 62,000 sq.m.

Total GFA Approximately 220,000 sq.m.

Project Value Community with one-hour reach to

Shanghai, convenient transport, adjacent to 12-year famous schools

Jiashan – Luoxing 93 mu

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Disclaimer

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These materials have been prepared solely for the Company presentation. The Company do not have representationor warranty express or implied is made as to, and no reliance should be placed on, the fairness, accuracy,completeness or correctness of the information or opinions contained in these materials. None of Logan and itsmember, and advisors, and representatives shall have any liability whatsoever (in negligence, misrepresentation, tort,contract, or otherwise) for any loss or damage howsoever arising from any use of these materials or its contents orotherwise arising in connection with these materials. Certain information contained in these materials constitutesforward‐looking statements. This report contains forward‐looking statements. In addition to historical statements,other statements, including events, activities, and developments that the Company anticipates or expects to occur inthe future are only likely to occur in the future.

Due to numerous uncertainties, including but not limited to price fluctuations, changes in demand, foreign exchangerate, market share, competition, market risks, legal changes, fiscal policy adjustments, government policyadjustments, changes in international economic and financial markets, policy risks, expectations on costs and otherunanticipated risks, Greentown’s actual performance and development might differ from the forwardlookingstatements contained in the report.

The Company makes the above forward‐looking statements based on the current status and is not responsible for theinformation update. The information contained in this report is for reference only and is not intended to be arecommendation to subscribe for any Greentown stock or bond.

Contact

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ChinaAddress: 21/F, Tower B, Logan Century Center, Xinghua Road South, 

Bao’An District, Shenzhen, ChinaContact Number: (+86) 755 8528 8221Fax: (+86) 755 8528 8321

Hong KongAddress: Unit Nos. 02–03A, Level 68, International Commerce 

Centre, 1 Austin Road West, Hong KongContact Number: (+852) 2823 9200Fax: (+852) 2175 5098

Investor Relation Department Contact Email:  i.r@logan.com.cn