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Public company info - Coastal Greenland Ltd. , 01124.HK
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Coastal Greenland Ltd., 01124.HK - Company Profile
Chairman Jiang Ming
Share Issued (share) 4,146,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: The principal activities of the Group comprise property development, property investment, provision of property management services and projectmanagement and construction services. Performance for the year: Revenue for the year amounted to about HK$31 million, a decrease of about 85% from last year Loss for the year attributable to owners of the Company was about HK$337 million, representing a turnaround from last year’s profit of about HK$132 million. Business Review Property development The Group’s business strategy for its property development business is to develop quality residential estates for the upper to middle class domestic market. During the Year, the Group recorded contracted sales in the amount of HK$88 million (2019: HK$116 million) which corresponds to a total GFA of about 11,000 sq.m. (2019: 18,000 sq.m.). Included in the amount was HK$15 million (2019: HK$19 million) related to contracted sales attributable to the development project in which the Group has equity interests of 35% (2019: 35%) and of which the Group is the project manager. Such development project accounted for a corresponding GFA of about 5,000 sq.m. (2019: 5,000 sq.m.). Property Investment The Group holds some of its properties for investment purposes. The property investment portfolio of the Group includes commercial and residential properties located in the PRC. In managing the investment property portfolio, the Group takes into account the long-term growth potential and overall market conditions of the properties. The Group may sell some of its investment properties when it is in its interests to do so. Rental income for the Year mainly derived from properties in Shanghai Golden Bridge Mansion, Shenzhen Noble Center and Dongguan Riviera Villa. Project Management In recent years, the Group has been searching for co-investment opportunities in the development projects such that it can enlarge its property portfolio without escalating its financial burden. During the Year, the Group was engaged as the project managers of two (2019: four) development projects namely Beijing Bay Project and Chongqing Silo City. Project Investment Services During the Year, the Group did not generate any profit from the operations of this segment (2019: HK$886.2 million). The Group will continue to look for opportunities in relation to investment in and sale of property development/land development projects in the PRC. Prospects: During the Year, the PRC economy is under the pressure from the outbreak of the Coronavirus Disease 2019 (the “COVID-19 outbreak”), the trade war tensions between the United States and the PRC and the unstable geopolitical risks around the region. The COVID-19 outbreak occurred near the end of the Year has caused disruptions to many industries which have inevitably posed a significant threat to the PRC as well as the global economy. To tackle with the crisis, the central government has implemented a series of stringent measures to contain the epidemic. With signs of stabilisation, The Group believe consumer confidence will be gradually recovered and potentially housing demand will also be resuming gradually. However the construction and sales progress of the Group may be exposed to shortterm volatility because of the COVID-19 outbreak. The Group remains cautiously optimistic on the outlook and the prospects for the real estate market. Against the backdrop of these profound changes in the real estate market, the Group will continue to formulate its business strategy along the direction of government policies. Over the past years, the Group continues to look for opportunities to realise its investment in its development projects as part of the Group’s business activities. Going forward, with the Group’s well established brand and seasoned experience in the PRC property market and the Group’s improvement in its financial strength, the Group will continue to seek opportunities of participation in city redevelopment of old villages or old plants and factories so as to replenish its property portfolio as an ongoing business exercise and as a means of replenishing a lower cost land bank. For business development, the Group will also look for different thriving business opportunities that will benefit the Group in the years ahead.

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