The Group has a portfolio of 32 property development projects in the PRC, including 24 resident complex projects and 8 commercial projects covered Nanjing, Yangzhou, Nantong, Taizhou, Changzhou, Zhenjiang, suzhou, Suqian. Jiayuan International first successfully entered into the market of the Guangdong Province and acquired 2 quality projects in Shenzhen in 2016.In 2017, the Group acquired the land in Macau and further expanded the Group's quality land bank in Guangdong-Hong Kong-Macao Bay Area.
The PRC’s real estate market was exposed to both challenges and opportunities in 2017. On one hand, the PRC government generally tightened the austerity measures on the real estate sector by adopting measures targeting “purchase restriction, credit restriction, price restriction and sales restriction”, and curbing property prices appreciation effectively. On the other hand, under the influence of “four restrictions”, part of the housing demand has been flowing into the third- and fourth-tier cities nearby, thereby increasing the property prices and transaction volume in those cities. During the year, the Group achieved good sales results by conforming to market changes with the adoption of an active investment tactic, while continuously showing a strong and steady momentum of development. Throughout 2017, the transaction volume and average selling price of commodity housing in the PRC maintained a moderate upward trend. According to the “National Real Estate Development and Sales in 2017” (《2017年全國房地產開發投資和銷售情況》) issued by the National Bureau of Statistics of the PRC, the sales of national commodity housing amounted to approximately RMB133.7 trillion in 2017, representing an increase of 13.7% as compared with that of 2016. Sales of residential housing also had a year-on-year increase by 11.3%. The sales area of national commodity housing amounted to approximately 1.69 billion sq.m., representing a year-on-year increase of 7.7%.
During the Year, the Group achieved good sales results by adapting itself to changes in the market. It did so by investing activing in lands. As at 31 December 2017, revenue of the Group increased by 87.7% to RMB6.95 billion. Profit attributable to owners of the Company surged by 58.3% to RMB1.28 billion. Earnings per share were 62.35 RMB cents. The Board recommended a final dividend of 19 HK cents (2016: Nil).
The Group achieved encouraging results for the year regarding to the satisfactory results of its strategies for operation and investment. In addition to our endeavors to further develop the property market in Jiangsu province, to expand our footprint to other major provinces and cities, and to develop the quality projects in Guangdong-Hong Kong-Macau Greater Bay Area, we will seek to develop promising, quality property projects in countries covered by China’s Belt and Road Initiative such as Vietnam, Cambodia and Australia in 2018. We will try to increase our quality land reserves in overseas countries gradually so that we can seize the opportunities in the global real estate market and maximize the shareholder value.”