Share This

Public company info - Powerlong Real Estate Holdings Ltd. , 01238.HK
Input the stock code or the company name     Search  
 
 Profile   Information   Data   Financial Ratios   Profit Loss   Cash Flow   Balance   Earnings   Dividend 

Powerlong Real Estate Holdings Ltd., 01238.HK - Company Profile
Chairman Hoi Kin Hong
Share Issued (share) 4,140,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The Group is principally engaged in property development, property investment, property management, and other property development related services in the People’s Republic of China (the “PRC”). Performance for the year: For the year ended 31 December 2020, the Group recorded a total revenue of approximately RMB35,495 million . For the year ended 31 December 2020, the Group recorded profit attributable to owners of the Company of approximately RMB6,093 million (2019: approximately RMB4,041 million), representing an increase of approximately 50.8% as compared with the corresponding period in 2019. For the year ended 31 December 2020, basic earnings per share was approximately RMB147.1 cents (2019: approximately RMB100.4 cents), representing an increase of approximately 46.5% as compared with the corresponding period in 2019. Business Review: For the year ended 31 December 2020, the Group conducted its business activities in the following major business segments, namely (i) property development; (ii) property investment; (iii) commercial operation and residential property management; and (iv) other property development related businesses. During the year under review, property development remained as the main revenue stream of the Group. Property Development For the year ended 31 December 2020, the contracted sales of the Group together with its associates and joint ventures amounted to approximately Renminbi (“RMB”) 81,551 million (2019: approximately RMB60,350 million), representing an increase of approximately 35.1% as compared with the corresponding period in 2019. In 2020, the contracted sales area of the Group together with its associates and joint ventures amounted to 5,327,291 square meters (2019: 3,767,519 square meters), representing an increase of approximately 41.4% as compared with the corresponding period in 2019. The Group’s contracted sales for the year ended 31 December 2020 continued to hit a record high and experienced a significant year-on-year increase, which was mainly attributable to (i) the Group’s strategic focus on Yangtze River Delta and the Guangdong-Hong KongMacau Bay Area, thereby attaining economy of scale; (ii) the Group’s ongoing efforts in strengthening its product research and development and the precise positioning of its products, and its commitment to quality and emphasis on customer experience in developing its products; (iii) for residential projects, the “369” model adopted by the Group to speed up the process of construction, sales and collection of sales proceeds, which has proven to be highly effective; and (iv) the localized sales strategies adopted by the Group to accommodate local market needs and satisfy the requirements of the local governments of the PRC. The Group’s ability to handle large projects was further strengthened, with 11 projects each of which achieving contracted sales of more than RMB2 billion. During the year ended 31 December 2020, the key contributing projects of the Group (together with its associates and joint ventures) were located in Jinhua, Ningbo, Taizhou, Shaoxing, Wenzhou, Hangzhou, Haikou, Changzhou and Zhuhai. Property Investment and Commercial Operational and Residential Property Management To generate a stable and recurring income, the Group has also retained and operated certain commercial properties for leasing. As at 31 December 2020, the Group had an aggregate gross floor area (“GFA”) of approximately 5,642,485 square meters (2019: approximately 5,076,029 square meters) held as investment properties (including properties completed and under construction), representing an increase of approximately 11.2% as compared with 2019. During the year ended 31 December 2020, the Group (together with its associates and joint ventures) has completed and commenced operation of six new shopping malls. Hangzhou Qingshan Lake Powerlong Plaza Phase 1 successfully commenced operation on 1 October 2020; Jinhua Yongkang Powerlong Plaza successfully commenced operation on 20 November 2020; Hangzhou Dajiangdong Powerlong Plaza successfully commenced operation on 28 November 2020; and three shopping malls, namely Yancheng Chengdong Powerlong Plaza, Quanzhou Taishang Powerlong Plaza and Zhangzhou Longwen Powerlong Plaza, successfully commenced operation on 19 December 2020. During the year ended 31 December 2020, three of the asset-light projects operated and managed by the Group commenced operation. Shaoxing Keqiao Powerlong Plaza successfully commenced operation on 28 November 2020; Suzhou Xingyun Powerlong Plaza successfully commenced operation on 6 December 2020; and Hangzhou Qingshan Lake Powerlong Plaza Phase 2 successfully commenced operation on 31 December 2020. With the Group’s enhanced ability of regionalized operation and management, increasing sophistication in tenant sourcing, upgraded tenant mix and continuous development of the commercial operation and management, as at 31 December 2020, the Group held and managed 48 commercial plazas and managed six asset-light projects, with the number of commercial plazas in operation held and the floor area in operation and management both being amongst the forefront of the industry. Hotel Business The Group continued to develop its hotel business as a source of its long-term recurring income with core businesses in operating international brand hotels and self-operated brand chain hotels. As at 31 December 2020, the Group owned eight international brand hotels, namely Le Meridien Shanghai Minhang (上海閔行寶龍艾美酒店), Radisson Blu Shanghai Pudong Jinqiao (上海寶龍麗笙酒店), Radisson Exhibition Center Shanghai (上海國展寶龍麗筠酒店), Fthe Group’s Points by Sheraton Taicang Suzhou (蘇州太倉寶龍福朋喜來登酒店), Fthe Group’s Points by Sheraton Tai’an (泰安寶龍福朋喜來登酒店), Fthe Group’s Points by Sheraton Qingdao, Chengyang (青島城陽寶龍福朋喜來登酒店), Aloft Yancheng (鹽城雅樂軒酒店) and Wyndham Grand Plaza Royale Powerlong Fuyang (阜陽寶龍溫德姆至尊豪廷大酒店), and also owned and operated eleven self-owned brand chain hotels, namely ARTELS Qingdao (青島寶龍藝築酒 店), ARTELS Anxi Quanzhou (泉州安溪寶龍藝築酒店), ARTELS+ Huaian (淮安藝悅酒店), ARTELS+ Fuyang Hangzhou (杭州富陽藝悅酒店), ARTELS+ Collection Lingang Shanghai (上海臨港藝悅精選酒店), ARTELS+ Collection Hechuan Chongqing (重慶合川藝悅精選酒 店), ARTELS+ Wujing Shanghai (上海吳涇藝悅酒店), JUNTELS Binjiang Hangzhou (杭州 濱江藝珺酒店), JUNTELS Penglai Yantai (煙台蓬萊藝珺酒店), ARTELS+ Penglai Yantai (煙 台蓬萊藝悅酒店) and ARTELS+ Xinxiang (新鄉藝悅酒店). Land Bank Replenishment The Group’s strategy is to maintain a portfolio of land bank which is sufficient to support the Group’s own property development pipeline for the forthcoming three to five years. In the future, the Group will adhere to the “1+1+N” development strategy, focusing on Yangtze River Delta and the Guangdong-Hong Kong-Macau Bay Area while exploring other premium regions that offer opportunities; and to precisely lay out strategic plans and grasp the policy directions in a timely manner, in strict adherence to the principle of value investment. As at 31 December 2020, the Group had a quality land bank amounting to a total GFA of approximately 36.5 million square meters, of which approximately 24.3 million square meters were properties under development and construction and approximately 12.2 million square meters were properties held for future development. The land bank under development will be used for the development of large-scale commercial and residential properties with quality residential properties, serviced apartments, office buildings and hotels. As at 31 December 2020, approximately 70% of the land bank of the Group is located in the Yangtze River Delta region. Prospects: The year 2021 will be a year of opportunities as well as challenges for property developers. The full economic recovery after COVID-19 will energize the industry. Under the keynote of “properties being for residential dwellings instead of speculation” and “adoption of cityspecific policies”, the pace of market supply and demand in 2021 will gradually become more stable and demand will be more rational. In an increasingly more concentrated industry, property development shall be strategically deployed in a reasonable way and in line with the rotational development opportunities in different cities, and shall also be focused on regions with competitive advantage. Focus shall be drawn to key cities; detailed analysis shall be conducted on the demand from different customer groups; and cooperation shall be fortified, to embrace the greater room for development. Based on the current trend and its own development needs, the Group will further increase its contracted sales target for 2021 to RMB105 billion. The Group will apprehend customer needs and create multidimensional signposts. It will upgrade the “369” development model, for better sell-through rates and faster cash inflow. Ongoing efforts will be made to study and learn from benchmarking enterprises, enhance its professional and project-specific marketing capabilities, and substantially shorten the life cycle of development and sales. To achieve its five-year strategic goals, the Group will continue to enhance its superiority in terms of land bank. In the future, the Group will adhere to the “1+1+N” development strategy, focusing on Yangtze River Delta and the Guangdong-Hong Kong-Macau Bay Area while exploring other premium regions that offer opportunities. In key regional hubs, the Group will strengthen market tracking and research, adhere to precise product positioning, and strictly comply with the principle of value investment in acquiring land bank. In the year 2021 the Group will have quite a few new shopping centres opening. The Group will integrate its significant resources to facilitate the opening of 13 shopping malls within the year. It will continue to uphold its customer-centered philosophy, fabricate high-quality products of superior standard, and create commercial spaces with love; uplift its capability in tenant sourcing, and extend the breadth and depth of brands of strategic cooperation; enhance smart commerce, build up a digitized Powerlong, and continue to foster the “new commerce” strategies. Meanwhile, the Group will further expand the commercial operational service segment by way of strategic acquisitions and investments. The Group will continue to foster a steady and safe system of financial control, with intensive efforts on the enhanced digitized development of financial management for better management effectiveness. Meanwhile, the Group will control the overall debt scale, optimize its financing structure, constantly enhance its financing capability and lower its financing cost. The Group will proactively promote the parallel development of both its talents and the enterprise, and call for employees’ revamped re-definition of themselves. The Group will mobilize individuals for the betterment of their self-achievements; integrate resources for the enhancement of working efficiency; and provide multidimensional incentives for unleashing their potentials. The Group will continue to establish a platform and create opportunities for the career development of its staff, with a view to converging bright people and gathering dedication and power. The Board believes in “concerted efforts, love and care”. Adhering to the corporate mission of “Create space full of love”, the Group will link up living space with the well-being of everything, and create the best experience of living space and services. It will firmly gather the wisdom and power of all fellow folks of Powerlong, to build the Group into a wellrespected, century-lasting and world-leading operator of city space.

Information from the financial statements of listed companies

Mobile | Full
Forum rule | About Us | Contact Info | Terms & Conditions | Privacy Statment | Disclaimer | Site Map
Copyright (C) 2024Suntek Computer Systems Limited. All rights reserved
Disclaimer : In the preparation of this website, 88iv endeavours to offer the most current, correct and clearly expressed information to the public. Nevertheless, inadvertent errors in information and in software may occur. In particular but without limiting anything here, 88iv disclaims any responsibility and accepts no liability (whether in tort, contract or otherwise) for any direct or indirect loss or damage arising from any inaccuracies, omissions or typographical errors that may be contained in this website. 88iv also does not warrant the accuracy, completeness, timeliness or fitness for purpose of the information contained in this website.