China Evergrande Group's net profit for the year ended Dec. 31, 2016, rose 1.6% year over year to 17.62 billion Chinese yuan, while cash on hand increased 85.5% to 304.33 billion yuan in the same period.
The total cash represented the highest figure since the company listed in Hong Kong in November 2009, according to a filing.
EPS was down to 36.6 fen in 2016, from 70.3 fen recorded in the previous year.
Revenue increased 58.8% to 211.44 billion yuan, from 133.13 billion yuan year over year, and gross profit was also up 58.8% to 59.42 billion yuan, while core business profit surged 89.2% to 20.81 billion yuan.
The company's contracted sales for 2016 reached 373.37 billion yuan, up 85.4% from the year-ago period, representing a gross floor area of 44.69 million square meters.
As of Dec. 31, 2016, the company's total liabilities amounted to approximately 1.158 trillion yuan. In the year, it secured 673.3 billion yuan of total loan facilities from several banks. By year-end 2016, the company's total available funds amounted to 442.63 billion yuan, comprising cash on hand and 138.30 billion yuan of unused facilities.
China Evergrande's board did not recommend any dividend payment for 2016, attributed to its ongoing reorganization. However, it noted that when the spin-off is completed, it will pay a special dividend equal to 50% of the company's distributable profits for 2016 and the first half of 2017.
As of March 28, US$1 was equivalent to 6.89 Chinese yuan.