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Interim Results Presentation 2019 August 2019 Disclaimer Interim Results Presentation 2019 August 2019 Disclaimer This presentation may contain forward-looking statements. Any such forward-looking statements are based on a number of assumptions about the operations of the Kaisa Group Holdings Limited (the “Company”) and factors beyond the Company's control and are subject to significant risks and uncertainties, and accordingly, actual results may differ materially from these forward-looking statements. The Company undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates. The information in this presentation should be considered in the context of the circumstances prevailing at the time of its presentation and has not been, and will not be, updated to reflect material developments which may occur after the date of this presentation. The slides forming part of this presentation have been prepared solely as a support for discussion about background information about the Company. This presentation also contains information and statistics relating to the China and property development industry. The Company has derived such information and data from unofficial sources, without independent verification. The Company cannot ensure that these sources have compiled such data and information on the same basis or with the same degree of accuracy or completeness as are found in other industries. You should not place undue reliance on statements in this presentation regarding the property development industry. No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of any information or opinion contained herein. It should not be regarded by recipients as a substitute for the exercise of their own judgment. Information and opinion contained in this presentation may be based on or derived from the judgment and opinion of the management of the Company. Such information is not always capable of verification or validation. None of the Company or financial adviser of the Company, or any of their respective directors, officers, employees, agents or advisers shall be in any way responsible for the contents hereof, or shall be liable for any loss arising from use of the information contained in this presentation or otherwise arising in connection therewith. This presentation does not take into consideration the investment objectives, financial situation or particular needs of any particular investor. It shall not to be construed as a solicitation or an offer or invitation to buy or sell any securities or related financial instruments. No part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever. This presentation may not be copied or otherwise reproduced. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or to provide any investment service or investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto. This presentation does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. This presentation shall not be reproduced or circulated. © 2019 Kaisa Group Holdings Limited. All rights reserved. 2 Contents 1. Major Achievements in 1H2019 4 2. Operation Review 9 3. Development Strategies for 2H2019 19 4. Financial Performance 27 5. Appendix 35 3 1. Major Achievements in 1H2019 Strategies for Development in 1H2019 Positioned as a city services provider, Kaisa continues to focus on its core property business with quality development. In addition to reinforcing its mainstay business, the Group also aims to enhance synergy amongst its newly developed and major businesses. This can enhance the Group’s core competence to provide high quality services for good living. 5 Operation and Competitive advantages Strong Growth in Contracted Sales ✓ Contracted sales achieved RMB34.7 bn, 37% YoY ✓ Contracted GFA reached 1.96 mn sq. m., 38% YoY ✓ URP¹ contributed 33% of total contracted sales ✓ Greater Bay Area accounts for 58%, while Shenzhen accounts for 30% High Quality Land Bank ✓ Land bank of nearly 26 mn sq. m. (87% attributable) ✓ Saleable resources over RMB500 bn, of which approx. 70% in Greater Bay Area and over 30% in Shenzhen ✓ 76% is strategically located in Tier 1 & Tier 2 cities, while 55% is in Greater Bay Area Over RMB2 Trillion URPs in Greater Bay Area ✓ Site area² of 32 mn sq. m. URP pipeline, of which Shenzhen and Guangzhou account for approx. 30% each ✓ Converted URPs with saleable area of 730,000 sq. m. with saleable resources of RMB40.4 bn recently ✓ Successfully converted the largest urban village project in Shanghai ¹.Urban Renewal Project ² Not yet included in the land bank, plot ratio not yet calculated 6 Profitability and Dividend Growing Revenue ✓ Revenue achieved RMB20.1 bn, 34% YoY ✓ Advanced Proceeds Received from Customers reached RMB45.3 bn, 16% from 2018 year end Healthy Profitability ✓ Gross Profit of RMB6.71 bn, 42% YoY ✓ GP margin reached 33.4%, 1.8 ppts YoY ✓ Net profit of RMB2.78 bn, 24% YoY ✓ Profit attributable to owners of the Company of RMB2.84 bn, 67% YoY ✓ Core net profit attributable to owners of the Company reached RMB2.75 bn, 55% YoY Dividend ✓ Proposed interim dividend of 3 HK cents per share (1H2018: 3 HK cents per share) 7 Repayment and Refinancing Improving Debt Servicing Capability ✓ Net gearing 45 ppts from 2018 year end to 191% ✓ Quick ratio remained at a healthy level of 1.3× ✓ Cash on hand 31% from 2018 year end to RMB30.0 bn ✓ Total equity 24% from 2018 year end to RMB44.9 bn Expanding Funding Channels ✓ International credit rating: Moody's B1/ S&P B/ Fitch B, outlook “Stable” ✓ Onshore ABS issuance: obtain quota of RMB9.8 bn, issued RMB1.7 bn through 3 transactions Proactive Liability Management ✓ Repurchased senior notes of USD560 mn in 3 times, reducing principle amount due in 2019 to USD140 mn 8 2. Operation Review Strong Presence in T1 & T2 Cities with High Quality Land Bank ◆ Nearly 26.0 mn sq. m. land bank by GFA with attributable portion of 87% ◆ 76% located in T1 & major T2 cities ◆ 55% located in Greater Bay Area Western China Pan Bohai Rim ◆ GFA of around 7.3 mn sq. m. from URPs, accounting 28% of GFA: 3.01 mn sq. m. GFA: 4.06 mn sq. m. total land bank % of total by GFA: 11.7% % of total by GFA: 15.7% ◆ RMB200 bn, or 40% of saleable resources from URP Central China GFA: 2.39 mn sq. m. Land Bank by Development Status and Land Use % of total by GFA: 9.3% Completed, Completed and Industrial Commercial Sold, yet Unsold 6% 3% Recognized 11% Shenyang 2% Dalian Held for Future Residential Qingdao Under Development 86% 42% Nanjing Development Zhengzhou 50% Xuzhou Saleable Chongqing Suzhou GFA Wuhan % Resources % Chengdu Shaoxing (’000 sq. m.) Changsha (RMB mn) Greater Bay Area Foshan Guangzhou Greater Bay Area 14,068 54.6% 345,325 68.9% Huizhou Shenzhen 3,249 12.6% 162,447 32.4% Zhongshan Shenzhen GFA: 14.07 mn sq. m. Dongguan Zhuhai Guangzhou 1,637 6.4% 73,671 14.7% % of total by GFA: 54.6% Huizhou 5,569 21.6% 52,903 10.6% (Shenzhen: 3.25 mn sq. m., Sanya Dongguan/Zhuhai/Z 3,613 14.0% 56,305 11.2% % of total by GFA: 12.6%) hongshan/Foshan Yangtze River Delta Yangtze River Delta 2,164 8.4% 43,290 8.6% Hainan GFA: 2.16 mn sq. m. Central China 2,390 9.3% 40,623 8.1% GFA : 0.09 mn sq. m. % of total by GFA: 8.4% Western China 3,005 11.7% 28,105 5.4% % of total by GFA: 0.3% Pan Bohai Rim 4,058 15.7% 40,576 8.1% Hainan 87 0.3% 4,172 0.8% Total 25,772 100.0% 501,032 100.0% 10 Land Acquisition through Diversified Channels Newly Acquired Land by Attributable GFA Newly Acquired Land by Attributable Consideration ◆ Land acquisition through bidding M&A and urban renewal Western Pan Bohai Rim China Urban Central 4% ◆ Further penetration into the Greater 4% Renewal China 22% Bay Area with 60% of the new 13% Bidding projects in the Greater Bay Area 43% ◆ Attributable GFA of 2.46 mn sq. m. Yangtze (attributable portion: 91%) with an River Delta average land cost of RMB6,600 per 19% Greater M&A Bay Area 35% sq. m. in 1H 2019 60% ◆ Land Acquisition in 1H2019 Attributable Attributable Attributable Site Area GFA Region City GFA Consideration Land Cost (sq. m.) (sq. m.) (sq. m.) (RMB mn) (RMB/sq. m.) Shenzhen, Guangzhou, Greater Bay Area Dongguan, Huizhou, 481,154 1,542,775 1,483,328 8,758 5,904 Foshan, Qingyuan Yangtze River Shanghai, Hangzhou, 317,488 547,568 456,493 5,543 12,145 Delta Suzhou, Nanjing Central China Wuhan, Xiaogan 275,715 404,829 326,056 585 1,794 Western China Chongqing 41,724 104,311 104,311 1,050 10,066 Pan Bohai Rim Dalian 24,334 85,169 85,169 270 3,170 Total 1,140,415 2,684,652 2,455,357 16,206 6,600 11 旧改项目转为土储 Continuously Unlock the Value of URPs URPs URP Pipeline Conversion of UPRs into Land Bank Development and Sales • Site area of over 32 mn sq. m. URPs is • Recently Converted URPs • URPs accounted for 33% of not yet included in the land bank and ✓ Shenzhen Futian Border the total sales in 1H2019 plot ratio is not yet calculated Project ✓ Shenzhen Kaisa Yantian ✓ Shanghai Xuhang Town City Plaza • All located in Greater Bay Area with 1/3 Project ✓ Shenzhen Pinghu Kaisa in Shenzhen, 30% in Guangzhou and ✓ Guangzhou Xiaoping Plaza Zhongshan each Village Project ✓ Shenzhen Kaisa Future ✓ Provide saleable GFA of City Site Area1 730,000 sq.
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