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Public company info - Hopefluent Group Holdings Ltd. , 00733.HK
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Hopefluent Group Holdings Ltd., 00733.HK - Company Profile
Chairman FU Wai Chung
Share Issued (share) 674,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: The Group provides provision of real estate agency services, property management services, mortgage referral services, advertising and marketing services and investment holding. Performance for the year: For the year ended 31st December, 2019, the Group’s turnover was HK$6,076 million, representing a year-on-year increase of approximately 25% (2018: HK$4,878 million). Profit attributable to shareholders amounted to HK$484 million, including profit from continuing operations amounting to HK$252 million and profit from discontinued operations amounting to HK$232 million (2018: HK$327 million, including profit from continuing operations amounting to HK$303 million and profit from discontinued operations amounting to HK$24 million). Basic earnings per share from continuing and discontinued operations were HK72.3 cents (2018: HK49.0 cents). Business Review: I. Market Review for the Year 2019 In 2019, the increased economic downward pressure and the effects of the Sino-US trade war on the economy and industries in China continued to be clearly visible. To stabilise the property market in the short, medium and long-term, the central government and local governments had a clearer division and coordination of works in the implementation of austerity measures in the property market. With the stress on “houses are for living in, not for speculation” throughout the year, the central government continued to strengthen its management and control measures on the property and financial markets, and further shifted the focus of property market stability policy on a “different cities, different places, different policies” approach. As a result, local governments were more flexible in the implementation of austerity measures. Some policies in relation to the restriction on transactions in the property market were adjusted. However, due to rapid changes of the economic conditions, the transactions in the market were weaker when compared with previous years and the property market faced greater pressure on both capital and operations. II. Overall Business Review The Group has recorded a turnover of the property real estate agency services business of HK$5,861 million in 2019, accounting for 96% of its total turnover. Turnover of the financial services business was approximately HK$215 million, accounting for 4% of the Group’s total turnover. By region, Guangzhou accounted for approximately 44% of the Group’s total turnover, while around 56% came from the business outside Guangzhou. Total new home sales for 2019 amounted to HK$535.1 billion, from handling about 378,900 transactions, with a total gross floor area sold of about 35.1 million square metres. 1. Property real estate agency services business steadily advances amidst challenges With more than 20 years of experience in the property market in China, Hopefluent has established footholds in Guangdong province, Hong Kong, Macau, the Yangtze River Delta, central and western China. Meanwhile, it has kept abreast of the times by implementing an internet integration strategy, continuously increasing investment in online operation and actively promoting the resources interaction and cooperation with new media platforms. Through online promotion and marketing as well as offline transactions, it has captured business opportunities to accelerate monetisation of data. In addition, the property real estate agency services business jointly operated by the Group and Poly Developments and Holdings Group Co., Ltd (“Poly Developments”) continued to create synergies. Continued optimisation was made to the scope of services, business scale and operating efficiency of the property real estate agency services, with the aim of further enhancing its profit stability, so that the Group could move forward in the highly competitive business environment. Turnover of the property real estate agency services business amounted to HK$5,861 million for the year ended 31st December, 2019, an increase of approximately 25% (2018: HK$4,705 million). Currently, Hopefluent’s existing network of its property real estate agency services business covers more than 200 cities in China and it is the agent of approximately 2,000 projects. There are around 390 branches for running the secondary property real estate agency services business. 2. Financial services business progresses well, actively developing asset management service To cope with the market environment and demand, the Group’s financial services platform has timely adjusted the positioning and strategic focus of its financial services. It offers a diversified product portfolio to meet the different needs of customers and successfully captured and secured sufficient customers resources. It focuses on serving property enterprises with investment and financing needs and high net worth individuals by providing property-related financial services to meet their needs. The Group has launched asset management services in 2019 to provide a superior financial planning service to the customers with ample assets. It plans to actively expand this business in the coming year in order to eventually become a business growth driver of the Group. Total transaction value of the Group’s financial services business for the year amounted to HK$3.3 billion. Turnover was approximately HK$215 million, an increase of around 24% year-on-year (2018: HK$173 million) 3. Disposal of property management services business to align with overall business development strategy The Group’s property management services for residential, office and shopping mall projects in Guangzhou, Shanghai, Tianjin and Wuhan generated a turnover of HK$342 million during the year under review. To align with the overall business development strategy and cope with the market environment and its own development needs, the Group has adjusted its strategy and disposed of its property management services business in a timely fashion in July 2019. Details of which are included in the announcement of the Company dated 10th July, 2019. The Group will focus on further developing its property real estate agency services and financial services businesses in the future. Prospects: The outbreak of the Novel Coronavirus epidemic in early 2020 has put more downward pressure on the economy and brought about severe challenges to all industries and inevitably affected the Group’s businesses. The central government has implemented a series of measures in order to fuel economic recovery in the aspects of finance, taxation, infrastructure and specific assistance for enterprises. Under the policy of “different cities, different places, different policies”, market stabilisation policies have been launched in different cities across China to maintain stable development of the property market, involving industry capital, land supply, introduction of talents and government subsidies, etc. In the macroeconomy and the property market alike, the government policies will promote and realise market recovery after the conclusion of the epidemic. With the mode of property sales diversifying, the application of internet mobile communications technology can allow home buyers to make online enquiries for information, followed by setting up appointments for offline visits to the showroom flats and then proceeding to actual transactions. The Group has a professional team to develop and design different internet programs which meet the needs of the market and its own requirements, so as to maintain its business leadership. Meanwhile, the joint venture between the Group and Poly Developments will help to expand the Group’s business presence significantly, in particular in the Greater Bay Area with greater market potential, thereby further reinforcing its leadership in the property real estate agency industry. The Group will continue to integrate its new and existing businesses and grasp development opportunities, with the aim of creating growth momentum in all aspects of its business. The Group expects that its businesses in the first half of 2020 will be more affected by the epidemic, but The group strongly believe that the Chinese economy will continue to maintain a long-term upward development trend. Besides, against the backdrop of continued development of the economy and accelerating urbanisation in the future, the demand for properties will remain huge. It is believed that the property market will sustain a positive development trend after the epidemic. Through their concerted efforts, the staff of Hopefluent will devise solutions in a timely fashion to cope with the market changes and consistently transform threats into opportunities, continue its efforts with the aim of generating satisfactory returns to the Group and its shareholders.

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