Logan Group’s Contract Sales in October Increase 93.2% to RMB13.5 Billion, Single Month Performance Hits Record High

(China / Hong Kong, November 5, 2020) Logan Group (3380.HK) has announced its sales performance for October. The Company achieved contract sales attributable to shareholders of approximately RMB13.5 billion in October, a significant increase of 93.2% year-on-year (Y-o-Y), hitting a record high for single month contract sales. Also, it is the fourth consecutive month that Logan Group has achieved single-month contract sales exceeding RMB10 billion, indicating that the Company has great potential for development and continues to maintain strong growth.

As of October 31, Logan Group had realized a total of approximately RMB97.02 billion in contract sales attributable to shareholders during the year, an increase of 30.3% Y-o-Y. Based on the Company’s calculations, Logan Group’s contract sales in the first ten month of 2020 have surpassed the contract sales of the entire year of 2019, reaching 88.2% of the annual RMB110 billion contract sales target. Furthermore, the sales growth rate and sales target completion rate rank among the top in the industry.

For the first ten months of 2020, Logan Group’s contract sales exceeded RMB10 billion in a number of cities, thanks to the forward-looking city-focused penetration strategy and high-value products of the Company. Meanwhile, Logan Group grasped the opportunity in the land market in October, entered Ningbo for the first time, increased its land bank in Shenzhen and continued to improve its national strategic layout.

As Logan Group continues to enter more cities with high growth potential, the Company's project supply will continue to increase in the future, and sales growth will remain strong.

Logan Group plans to launch a number of high-value projects in November and December. At present, Logan Group has abundant resources and most of its stocks are located in core cities, with a sound economic foundation and strong market demand. Coupled with the strong recovery of market demand, the Company is confident that it will outperform the annual sales target.