China's Leading Office Landlord

  • High Quality Assets - Holding 1.3 million sqm of prime location office buildings in Beijing and Shanghai
  • Stable Cash Flow - All projects completed with diverse tenant mix enabling a stable rental income
  • Outstanding Value Protection - Asset scarcity in background of global monetary easing
  • Strong Asset Management - Occupancy of the portfolio recovering faster than market average
  • Sound Financial Position - Low gearing ratio and healthy debt maturity profile reducing financial risk

1

Results Summary

  • Rental income up 13% YoY
  • Gross margin reached 80%
  • Occupancy of the portfolio recovered to 85%
  • Net gearing ratio and average funding cost remained low at 44% and 4.7% respectively

2

Holding prime location office buildings in Beijing and Shanghai

• Office buildings in prime location of Beijing & Shanghai

•

Projects completed and stabilized with low uncertainty

with great scarcity

•

Outstanding value protection in global monetary easing

Leasable Areas by Location

46%

54%

Beijing

Shanghai

Value of Investment Properties[1]

Unit: RMB bn

63.37 63.66

61.58

58.34

56.28

2017

2018

2019

2020

2021

Note [1] : excluding value of disposed properties and right-of-use assets

3

Occupancy back to 85% contributing to steady rental growth

• 85% occupancy by the end of 2021 amid "double

• Rental income of RMB1,742 million in 2021, up 13% YoY

reduction" policy on the education sector

Occupancy of projects

Rental income

Unit: RMB mn

78%

82%

89%

85%

937

782

756

805

2020H1

2020H2

2021H1

2021H2

2020H1

2020H2

2021H1

2021H2

4

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SOHO China Ltd. published this content on 24 March 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 March 2022 09:27:04 UTC.