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Public company info - China Gem Holdings Limited , 01191.HK

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China Gem Holdings Limited, 01191.HK - Company Profile
Chairman Zhong Ling
Share Issued (share) 4,250,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Investments & Assets Management
Corporate Profile Business Summary: The principal activities of the Group are providing money lending, license and financial service business, fund investment and property development. Performance for the year: For the year ended 31 December 2020, the Group recorded revenue from operations of approximately HK$19,985,000 (2019: approximately HK$103,938,000), representing a year-on-year decrease of 81%. For the year ended 31 December 2020, the Group recorded net loss attributable to owners of the Company amounted to approximately HK$327,977,000 (2019: approximately HK$402,514,000). Business Review: Money lending The Group has provided a wide range of loans with gross loan amount of approximately HK$252,792,000 as at 31 December 2020 (2019: approximately HK$252,792,000). Interest rates ranged from 10% to 15% (2019: 10% to 15%). The Group almost maintained no change in the money lending sector during the year ended 31 December 2020. Customers are mainly from corporations who have been carefully evaluated by the Group on their repayment capabilities and securities pledged. License and Financial Service Business During the year ended 31 December 2020, the Group has ceased the operations of providing administrative services to other investment managers of funds domiciled in Cayman Island. The license and financial business has generated revenue of approximately HK$nil (2019: approximately HK$1,323,000), mainly from provision of administrative services to China Gem L.P., in which a fellow subsidiary of the Group was the general partner of the fund during the year ended 31 December 2020. Strategic financial investment In order to increase the efficiency of the use of the Company’s funds and match the resources with the business, the Group seizes opportunity in fund investment to build a diversified and complementary portfolio of businesses, investment and various types of assets through the subscription of private equity funds by leveraging the professional advantages, talent advantages and management advantages of the fund companies to spread risks, increase return on investment and achieve long-term capital growth for shareholders. In respect of fund investment policies, the Group selects teams with asset management experience and sound performance as fund managers, focusing on debt investment, so as to obtain fixed income. The Group mainly targets real estate, energy and high-tech industries, with a view to achieve the expected return on investment. Considering the balance between return and risks of holding funds, the Group’s investment in individual fund is limited to no more than HK$150 million, while the total size of fund investment is determined according to the financial condition and investment plan of the Company. The funds invested have an investment period of two years or more. Property development Revenue in this segment was derived from leasing of properties, building management fee income and sales of residential units in Shunde, the PRC. During the year ended 31 December 2020, the Group recorded the rental, management and related fee income and sales of properties of approximately HK$19,985,000 (2019: approximately HK$8,864,000). The segment profit for the year ended 31 December 2020 was approximately HK$18,359,000 (2019: approximately HK$25,415,000). Prospects: Looking forward, the Group will continue to focus on financial investment and industrial investment. In terms of financial investment, the Group will continue to conduct money lending, license and financial service business and fund investment business, while gradually carrying out special opportunity real estate and special opportunity debt business. In terms of industrial investment, in addition to the existing property development business, the Group will pursue market opportunities in Internet plus education, construction materials and mining investment including gold mine, cooper mine and lead-zinc mine. Under the complicated macro-economic environment, the Group will adhere to the business philosophy of “Professionalism, Dedication, Devotion” and “Customer First, Efficiency Priority, Synergic Development, Pursuit of Excellence”, and will strive for the Group’s overall business development by fully exploring the synergy and interconnection between the Group’s existing business segments. The Board and the management of the Company believe that, with a clear position, a team of professionals and effective execution capabilities, the Company will continue to enhance its core competitiveness and overall profitability to create greater value for the shareholders. Money lending Under the current economic environment, in order to protect shareholders’ interests and avoid risks, the Group will exercise prudent approach in assessing money lending projects and conduct proper control over the scale of money lending business. Besides improving the Group’s credit policies, the Group will continue to optimise the overall credit quality of the Group’s loan portfolios. License and Financial Service Business For license business, the Group will continue to study the establishment of Special Opportunity Investment Fund and actively carry out Type 4 (advising on securities) and Type 9 (asset management) regulated activities. In addition, for non-license financial service business, the Group will give full play to its talent advantages and intellectual output and provide tailor-made professional and comprehensive financial service solutions for customers. The Group will seek investment and growth opportunities in order to generate additional revenue through the linkage between domestic and overseas business, and the asset-light strategy. Strategic financial investment The Group will continue to seize opportunity in fund investments in order to utilize the Group’s financial resources more efficiently and effectively. To yield better investment returns, the Group will strengthen its original investment fund management, deepen its understanding of fund operations, and fully tap into the experience and expertise of the management team and general partners in its investment funds. Meanwhile, the scale of strategic financial investment will be reduced gradually. Property development In view of restrictions imposed on property projects in Mainland China, the Group will prepare appropriate entry and exit strategies in the interest of the Company and its shareholders as a whole. As for projects that underperform the Group’s expectations, the Group will elect to exit when timing is right. Furthermore, the Group will continue to explore other property development opportunities to expand the Group’s investment property portfolio and consolidate the Group’s revenue base, safeguarding the potential of capital appreciation for the Group. Special opportunity real estate and special opportunity debt business In 2020, the Company made some attempts in this field without substantial progress. The Group could make flexible use of various disposal methods of non-performing assets, including debt restructuring, securitisation, conversion of debt to equity to rebuild the business model of enterprises, or carry out business transformation of the subject enterprise, explore new markets, customers and business in an value-added way, and reshape the intrinsic value of enterprises, which will revitalise non-performing assets while achieving good investment returns for investors. The Company will utilise its expertise on the non-performing assets, gradually develop special opportunity real estate and special opportunity debt business and form a new asset management business mode in the future. Industrial Investment The Company will strengthen its management on the existing investment funds and money lending business so as to develop appropriate recovery plans and proposals and strive to recover investment funds and eliminate existing risks. Meanwhile, the management has been seeking for quality investment projects and has obtained certain potential projects and corresponding investment targets in the fields of Internet plus education, construction materials, and mining investment including gold mine, copper mine and lead-zinc mine. The proportion of industrial investments will be increased through asset swaps, direct investments, and equity swaps.

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