Agile repays more than 1 billion yuan of loans, and the security margins will be further improved

Zhongxin Jingwei, August 25th. Since entering the peak of debt repayment in August, Yajule Group Holdings Co., Ltd. (Yajule, 3383.HK) has issued several consecutive announcements, which are the company's repayment debt on time.

On August 25, Yajula announced again that sufficient funds have been deposited into the bank account designated by the credit agent to repay the balance of HK $ 719.6 million and US $ 60 million in loan balances that will expire on August 28. This is the third time in half a month since August 11th, Agile has issued a debt repayment announcement for the third time, and the cumulative debt repayment amount has exceeded 2.6 billion yuan.

Orderly repay debt

Yajula may be one of the most watched private housing companies at the moment. Since entering the peak of debt repayment in August, Yajule not only repaid all debts on schedule, but also settled several days in advance each time.

Announcement on August 25 showed that on August 28, 2019, Agile signed a credit agreement with the financial institution as a borrower and several subsidiaries as the original guarantor. Agile obtained two amounts of HK $ 1.17 billion and a regular loan credit of HK $ 1.17 billion and 100 million US dollars (with 500 million US dollars or equivalent value of Hong Kong dollars) for 36 months.

Since then, Agile has withdrawn a total of 1.799 billion Hong Kong dollars and $ 150 million according to the Credit Agreement, and subsequently repaid the 1.0794 billion Hong Kong dollars and 90 million US dollars. The remaining 719.6 million Hong Kong dollars and $ 60 million of the loan was repaid.

The announcement shows that after the repayment, Yajule's credit will be repaid and will not have a significant impact on the company's financial status.

Earlier August 11 and August 22 have announced twice to repurchase US $ 200 million and nearly 40 million US dollars. Counting the repayment, Agile has repaid more than 2.6 billion yuan in debt in just half a month.

It is worth noting that Yajule's recent debt repayment time has been advanced for several days compared to debt due. For example, the first priority notes on August 22 were issued on August 27, 2021, with a total amount of 400 million US dollars, all of which are August 31 this year. Yajula repurchased nearly $ 40 million a few days in advance.

Favorable and stable operation

In the current market environment, Agile can pay debts as scheduled, and it seems that it is particularly valuable to pass the peak of debt repayment. The reason why it can hold the pressure is largely benefited from the company's stable strategy in the past.

Taking finance as an example, since 2021, the financing environment in the real estate market has shrunk as a whole, and market fluctuations have continued to decline. Faced with adverse effects, Yajule continued its consistent steady financial strategy and achieved a balance between business development and financial management.

In addition, Agile has worked hard to promote debt and delivery since 2021, stabilize cash flow, stabilize, and optimize the organizational structure, which has also effectively guaranteed the company's smooth and orderly operation.

From the perspective of delivery, Yajule is expected to be delivered 84,000 units in 2022. As of July 31, 34,000 units have been delivered, involving 129 projects in 24 cities across the country, and the delivery work is still steadily advanced.

In terms of land reserves, as of the end of 2021, Yajule has a land reserve with an estimated total construction area of ​​47.37 million square meters in 84 cities. Among them, the Greater Bay Area and the Yangtze River Delta have the focus of development potential and high margins of security.

The annual report shows that as of the end of last year, the land reserve of Yajule in the Greater Bay Area was about 12.4 million square meters, accounting for 26.2%of the overall land reserves, which was enough for the company's 5-6 years. About 11.9%, enough 3-5 years of development. In Hainan, Agile has 3.3 million square meters of land reserves, accounting for 7%, which is available for the company's development for 3-5 years.

On August 19, Yajule announced the profit warning of the first half of 2022. It is expected that the company's profit for the first half of the year is 2.3 billion yuan to 2.6 billion yuan. Although it has declined compared with the same period of the previous year, it is still significantly better than the market average.

After the repayment of the debt of 1 billion yuan, Agile will have a US dollar notes at the end of August. Earlier, the company has stated that it is raising funds steadily according to the plan and confident to pay the surplus debt during the year as scheduled.

Next, Agile's next -end US dollar priority time was January 2025. This means that after the debt repayment was completed in August, the security margin of Agile will be further improved.

Since the beginning of this year, the LPR interest rate has achieved a "three consecutive declines". On August 22, the asymmetric decline of 1 -year and 5 -year LPR. With a wide credit policy and local local conditions, the real estate market is expected to gradually recover. Agile, which has always maintained steady development, is expected to gain greater advantages in future market competition. (Zhongxin Jingwei APP)

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