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Public company info - SRE Group Ltd. , 01207.HK

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SRE Group Ltd., 01207.HK - Company Profile
Chairman Hong Zhihua
Share Issued (share) 20,565,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: The Group are mainly engaged in real estate development and investment in Mainland China, on projects located in gateway cities of developed markets. Performance for the year: In 2020, the Group recorded net revenue of approximately RMB289 million (2019: RMB651 million), which represents a decrease by approximately 56% compared to that of 2019. Loss attributable to owners of the Company in 2020 was approximately RMB919 million (2019: RMB2,257 million). Business Review At the beginning of 2020, the sudden outbreak of COVID-19 caused a big impact on China’s macroeconomy and the operation of the real estate market. Thanks to the timely implementation of supporting policies and the effective control of the pandemic, China has taken the lead in economic recovery, becoming the only major economy in the world to achieve positive economic growth. As the ballast of the economy, the real estate market saw an increase in size throughout the year. The sales area of commercial properties in China rose 2.6% year on year to 1.76 billion square metres in 2020 (data from China Index Academy). Both the supply and demand of residential land increased slightly across the country and the average land price per floor area went up, showing the strong resilience of China’s real estate sector. In the face of the severe external situation and the impact of the pandemic, the Group has gradually stabilised its operation since the beginning of this year with the idea of “reassuring people, focusing on operation, preventing and controlling pandemic and strengthening management”. Strategically, it clarified a three-year development plan of becoming a regional developer of boutique residential properties. In terms of project operation, efforts were made to accelerate the payment collection and effectively control the quality of property development projects. The Group resumed operation of its properties in an orderly manner. The Company achieved the full-year sales target on key projects for sale in China. It strived to maintain the stable operation of the properties it owns amid the pandemic. In terms of investment, the Group actively kept project resources in reserve, approached multiple potential investment projects, and gained momentum for the subsequent project implementation. On the whole, the Group’s cash flow remained solid and business activities were carried out in an orderly manner in 2020. In 2020, the Group’s major projects available for sale were Shanghai Masters Mansions, Jiaxing Project, Shanghai Albany Oasis Garden, 75 Howard in the USA, Phnom Penh Romduol City and the Atelier. In 2020, the Group together with its joint ventures and associates had contracted sales amounting to approximately RMB1.208 billion, with a total gross floor area of approximately 29,049m2 . Prospects: Looking forward to 2021, there are still many factors of instability in the international environment, and the pandemic tends to become normal. Although the domestic economy is recovering steadily, it is still under great pressure. It is expected that the central government will take multiple measures to promote the domestic circulation and fully unleash the potential of domestic demand in the future. The government may accelerate the establishment of a longacting management mechanism for real estate finance and strengthen the control over real estate finance. In terms of policies, with the release of the 14th Five-Year Plan and Vision for 2035, China is expected to maintain continuity of the regulatory policies for the real estate industry in the next five years. In the short term, restrictions on purchase, loan, sales, etc. are difficult to be loosened greatly. In addition, as mentioned in the 14th Five-Year Plan and Vision for 2035, China will “promote the healthy development of housing consumption”. It will still support the reasonable housing consumption and implement the regulatory policies to optimise such consumption. On the whole, 2021 will be a year with both challenges and opportunities for the real estate sector. The Group will focus on operating its business from three aspects in 2021. Specifically, it will first focus on projects under construction, with efforts to reduce costs and increase efficiency, improve operational efficiency, and accelerate the sales of existing properties. Secondly, it will focus on core regions and step up presence in the Yangtze River Delta region, especially Shanghai, Hangzhou and Nanjing. Thirdly, the talent strategy will be a priority. Professional skilled talents will be further added. The Company will further enhance its fine management at the same time to improve its overall operation capacity.

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