Poly Development's asset-liability ratio in 2024 is only 74%, and its operating cash flow has been positive for consecutive 7 years.

Poly Development released its 2024 annual report today, maintaining its position as the industry leader during a period of deep adjustment in the industry. The company achieved a total sales volume of 323 billion yuan in 2024, with operating income of 311.7 billion yuan, and a net profit attributable to shareholders of 5 billion yuan. The company's three red lines remained green, with the year-end asset-liability ratio tightly controlled at a low level of 74.3%, down 2.2 percentage points year-on-year; the comprehensive financing cost decreased by 46 basis points to 3.1%; and the year-end cash on hand was as high as 134.2 billion yuan. The company achieved an operating cash flow of 6.3 billion yuan for the whole year, remaining positive for the seventh consecutive year since 2018; the collection rate exceeded 100% for the year, maintaining a high position in the industry. As of the end of the reporting period, Poly Development's land reserve capacity was approximately 62.58 million square meters, with an incremental project of around 10 million square meters, primarily concentrated in the core 38 cities.