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Public company info - Central China Real Estate Ltd. , 00832.HK
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Central China Real Estate Ltd., 00832.HK - Company Profile
Chairman Wu Po Sum
Share Issued (share) 2,964,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: The Group is principally engaged in property development in Henan Province in the People’s Republic of China (“the PRC”). Performance for the year: Revenue for the year ended 31 December 2020 amounted to approximately RMB43,304 million, representing an increase of approximately 40.8% as compared with 2019. Profit attributable to equity shareholders of the Company for the year amounted to approximately RMB1,802 million, representing a decrease of approximately 10.6% as compared with 2019. Business Review 1. The Macro-economic Environment Facing the severe and complicated environment at home and abroad in 2020, especially the severe impact of the COVID-19 epidemic, all local departments earnestly implemented the decisions and arrangements of the central leadership and the State Council under the strong leadership of the CPC Central Committee with Comrade Xi Jinping as the core, and made great achievements in coordinating the prevention and control of epidemic situation and economic and social development. China’s economic operation continued to recover steadily, taking the lead in realizing positive growth among the major economies in the world, and its total economic output reached a new level of RMB100 trillion. In 2020, China achieved a GDP of RMB101.6 trillion, representing an increase of 2.3% as compared with that of 2019 at constant prices. The economy showed the momentum of sustained recovery and the strong resilience of China’s economic development. In 2020, under the guidance of Xi Jinping thought on socialism with Chinese characteristics for a new era and under the correct leadership of the provincial party Committee and the provincial government, the whole province made overall plans to promote epidemic prevention and control and economic and social development. They also did a solid job of “six stability”, and fully implemented the task of “six guarantees”. The province’s production and supply had been continuously improved, market demand had steadily recovered, emerging kinetic energy has continued to increase, the overall situation of people’s livelihood had been stable, and economic operation had shown a sustained and stable recovery trend. The 13th Five-Year Plan ended successfully. In 2020, the province achieved a GDP of RMB5,499.707 billion, representing an increase of 1.3% as compared with that of last year in terms of comparable prices. 2. The Property Market In 2020, the central government adhered to the principle of “housing is for accommodation, not for speculation”. In the first half of the year, affected by the COVID-19 epidemic, the economy faced greater downward pressure. The central government intensified counter-cyclical adjustment and relaxed the monetary environment. In addition, local governments frequently introduced real estaterelated support policies, and the market recovered rapidly. Since the second half of the year, the real estate control policy has turned. The central government emphasized that real estate should not be used as a means to stimulate the economy in the short term, stabilized land prices, housing prices and expectations; the real estate financial supervision has been continuously strengthened, and the “three red lines” have been implemented on a pilot basis to promote the rational return of the market. In 2020, the area of commercial houses sold in China amounted to 1,760.86 million sq.m, representing an increase of 2.6% as compared with that of last year; the commercial house sales amounted to RMB17,361.3 billion, representing an increase of 8.7%; and the investment in real estate development in China amounted to RMB14,144.3 billion, representing an increase of 7.0% as compared with that of last year. Henan Province made overall plans for epidemic prevention and control, housing and urban-rural construction, tackling difficulties and taking responsibility. It adhered to the positioning of “housing is for accommodation, not for speculation”, and ensured the stable and healthy development of the real estate market. All localities implemented policies based on cities, implemented the goals of stabilizing land prices, housing prices and expectations. In 2020, the area of commercial house sold in Henan Province amounted to 141.0066 million sq.m., down 1.2% year on year; the commercial house sales amounted to RMB936.436 billion, up 3.9% year on year; and the investment in real estate development in the province amounted to RMB778.229 billion, up 4.3% year on year. Prospects: 1. The Macro-economic Landscape 2021 is the first year of the “14th Five-Year Plan”. It is expected that the central government will still take many measures to smooth the domestic circulation, which will lay a solid foundation for the formation of a new pattern of “double circulation”. At the same time, in order to support the development of the real economy and reduce the actual cost of social financing, the central government will continue to implement a prudent monetary policy, provide a more favorable financial environment, continuously consolidate the epidemic prevention and control and restore the development trend of economic stability, strive to keep the economic operation in a reasonable range, and continuously promote high-quality development. The establishment of a long-term management mechanism for real estate finance will continue to be accelerated, and financial supervision will continue to be strengthened to prevent and resolve systemic risks. In 2021, it is expected that Henan Province will thoroughly implement the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the Central Economic Work Conference, adhere to the general tone of striving for stability, base itself on the new development stage, adhere to the new development concept, integrate into the new development pattern, consolidate and expand the achievements of epidemic prevention and control and economic and social development, do a solid job of “six stability”, fully implement the tasks of “six guarantees”, and promote the sustained and healthy economic and social development of the province. 2. Property Market Outlook In 2021, under the new pattern of “double circulation”, the new urbanization will continue to deepen, the industry policy will be oriented towards stability, and the general tone of “housing is for accommodation, not for speculation” will remain unchanged. It is expected that the policy will still emphasize the long-term mechanism, and local governments will earnestly implement differentiated policies in light of different situations in different places to ensure the stable and healthy development of the real estate market. On the demand side, benefiting from the steady advancement of new urbanization and the comprehensive recovery of the economy, the sales area of commercial housing in the country is still expected to be at a high level; However, under the background of focusing on the development of the real economy, more emphasis will be placed on the precise orientation of money supply, and the credit environment of the real estate industry will be tightened, or the demand will be released more rationally. On the supply side, under the background of “three red lines”, with the further emergence of capital pressure and de-marketing pressure of housing enterprises, the overall new construction scale may continue the adjustment trend in 2020. In 2021, under the general tone of the policy of “ housing is for accommodation, not for speculation”, Henan Province will adapt to local conditions and adopt multiple measures to promote the stable and healthy development of the real estate market. It is expected that Zhengzhou, the provincial capital, will further implement the talent policy, promote the flow of factors and strengthen government supervision, and the overall real estate market will be more open and transparent; Under the situation of maintaining the basic balance between supply and demand in the market, there will be a certain degree of market differentiation in various cities in The Group’s province.

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