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Public company info - Vanke Overseas Investment Holding Company Limited , 01036.HK
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Vanke Overseas Investment Holding Company Limited, 01036.HK - Company Profile
Chairman Zhang Xu
Share Issued (share) 390,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Investment
Corporate Profile Business Summary: The principal activities of the Group are property investment and management, and property development and financing. Performance for the year: Revenue for the year was approximately HK$251.5 million (2018: HK$101.8 million), representing an increase of approximately 147%. Equity attributable to shareholders of the Company amounted to approximately HK$3,764.3 million as at 31 December 2019 (31 December 2018: HK$3,666.7 million). Business Review： Property investment The Group’s investment properties comprise (i) various portions of Regent Centre (the “Regent Centre”), which is located at 63 Wo Yi Hop Road and 70 Ta Chuen Ping Street, Kwai Chung, New Territories, Hong Kong; and (ii) Ryder Court, which is located at 13–17 Bury Street and 12, 14 and 16 Ryder Street, St James’s, London, SW1, the United Kingdom. The Group owns a total gross floor area of approximately 657,000 square feet in Regent Centre and approximately 76,000 square feet in Ryder Court, representing 64% and 100% of the total gross floor area respectively. During the year, the Group renewed the leases of Regent Centre at a positive rental reversion. Occupancy of Regent Centre decreased to 96% as at 31 December 2019 (31 December 2018: 99%) against an increase in monthly passing rent to HK$10.0 per square foot as at 31 December 2019 (31 December 2018: HK$9.7 per square foot). Apart from monthly rent, the tenants are responsible for payment of a property management fee to the landlord, whose income has been accounted for as part of the revenue of the Group. Total revenue from the leasing of units and car parking spaces in Regent Centre was approximately HK$102.1 million (2018: HK$101.8 million). Property development The Group’s property under development is represented by investment in Ultimate Vantage Limited (“Ultimate Vantage”), a 20% associate of the Group. Ultimate Vantage is a special purpose vehicle established in January 2013 for the development of The Pavilia Bay. Up to the date hereof, over 99% of the units have been sold at gross proceeds of approximately HK$10.0 billion and substantially all sold units of The Pavilia Bay have been handed over to the buyers in the fourth quarter of 2018. Gold Value Limited (“Gold Value”), a 20% associate of the Group, was formed by the Group and the joint venture partner in Ultimate Vantage (the “TW6 Partner”) in November 2016 for the purpose of providing first and second mortgage financing to the buyers of the TW6 Project on market terms (the “Provision of Mortgages”). Finance for the business of Gold Value is provided by the Group and the TW6 Partner by way of interest-bearing shareholder’s loans on a several basis and in proportion to each of the parties’ shareholding interest in Gold Value. Asset management From the second half of 2019, the Group began providing asset management services to VPHK Parties with respect to VPHK Parties’ projects in Hong Kong, the United Kingdom and the United States of America. In return, the asset management service fees calculated at 1.25% per annum of the total capital of the relevant projects invested by VPHK Parties was charged by the Group. During the year, the Group’s revenue from the provision of asset management services amounted to approximately HK$82.9 million (2018: nil). Prospects: It is expected that 2020 will be another year filled with uncertainties, as a result of the outbreak of coronavirus disease 2019 (COVID-19), the slowing growth of global economy, the presidential election of the United States of America, the phase-two trade deal between the US and China and the negotiations following the Brexit event between the European Union and the United Kingdom. Above all, while the various countries and the global population is actively fighting against the COVID-19 epidemic, it is uncertain how it will impact the global economy in the near future. All of these uncertainties have brought and is expected to bring certain level of impact on the markets which the Group operates in. The Group is financially healthy and with appropriate cost management, the Group is prepared for any economic pressure that may arise from the aforesaid uncertainties. Besides, the Group believes uncertainties create opportunities — the Group will keep an eye on investment opportunities, including those in other real estate markets in the world, which have good development and investment potential with the objective of being open-minded about new opportunities for growth and expansion of the Group’s business and value creation for the Shareholders as a whole. The Group’s investment properties in Hong Kong and London, Regent Centre and Ryder Court, are expected to maintain the occupancy rate and passing rent in 2020. In addition, the Group’s investment instruments and asset management business are expected to generate stable revenue and profits in 2020.

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