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Public company info - Wuzhou International Holdings Ltd. , 01369.HK

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Wuzhou International Holdings Ltd., 01369.HK - Company Profile
Chairman Shu Cecheng
Share Issued (share) 4,294,967,295
Par Currency U.S. Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The Group was principally involved in property development, property investment and the provision of property management services. Performance for the year: Turnover of the Group amounted to approximately RMB3,788 million, representing an increase of 13.7% from the corresponding year in 2015. Revenue derived from property development increased by 11.4% to approximately RMB3,436 million for the year ended 31 December 2016. Other recurring income increased by 41.9% to approximately RMB352 million. Gross profit increased by 88.0% to approximately RMB1,345 million for the year ended 31 December 2016. Gross profit margin increased to 35.5% from 21.5% for the corresponding year in 2015. The Group recorded a profit for the year attributable to owners of the Company of approximately RMB101 million as compared to loss of approximately RMB482 million for the corresponding year in 2015. BUSINESS REVIEW: I. Contracted sales During the year under review, the Group recorded contracted sales and contracted sales area of approximately RMB4,068 million and approximately 643,000 square metres (“sq.m.”), representing decreases of 32.4% and 32.3% as compared with the same period of the previous year, respectively. Approximately RMB2,624 million and 432,000 sq.m. were from the sales of the trade logistics centers. Approximately RMB1,444 million and 210,000 sq.m. were from the sales of multi-functional commercial complexes. Contracted sales of the Group, by geographical location, were mainly from Jiangsu Province, Zhejiang Province, Henan Province and Fujian Province. The contracted sales and contracted sales area were approximately RMB1,117 million, RMB973 million, RMB639 million and RMB406 million, and approximately 183,000 sq.m., 110,000 sq.m., 116,000 sq.m. and 58,000 sq.m., respectively, accounting for 27.5%, 23.9%, 15.7% and 10.0%, and 28.5%, 17.2%, 18.0% and 9.0% of the total contracted sales amount and the total contracted sales area, respectively. Income source of the Group in terms of geographical locations became more balanced. II. Project Development As at 31 December 2016, the Group had 37 development projects in Jiangsu, Zhejiang, Shandong, Hubei, Yunnan, Heilongjiang, Jilin, Henan, Liaoning, Chongqing, Inner Mongolia Autonomous Region and Fujian, including 21 trade logistics centers and 16 multi-functional commercial complexes. Completed projects During the year under review, the Group completed a total of 31 projects or project phases with a total gross floor area (“GFA”) of approximately 4,931,000 sq.m., including approximately 2,759,000 sq.m. of GFA sold and delivered and approximately 734,000 sq.m. of GFA held for lease. Projects under development As at 31 December 2016, the Group had a total of 21 projects or project phases under development with a total planned GFA of 1,809,000 sq.m., including approximately 433,000 sq.m. of GFA pre-sold and approximately 468,000 sq.m. of GFA held for lease. Projects planned for future development As at 31 December 2016, the Group had a total of 16 projects or project phases planned for future development, with a total planned GFA of approximately 3,723,000 sq.m. III. Land bank The Group considers that acquiring ample land bank at reasonable costs is crucial to the long term development and profitability of the Company. The Group carried out in-depth studies on local urban planning and acquired lands of substantial development potential in order to build new commercial areas and design projects in line with market demand. During the year under review, the Group strived to consolidate its existing land bank and actively expand and develop into other areas for a more extensive land bank across China. As of 31 December 2016, the total planned GFA of land bank amounted to approximately 6,970,000 sq.m., including approximately 1,438,000 sq.m. for completed projects, approximately 1,809,000 sq.m. for projects under development and approximately 3,723,000 sq.m. for projects planned for future development. The land bank is sufficient for the development of the Group in the future three to five years. IV. Centralized operation, management and marketing Most of the purchasers of retail stores entered into exclusive operation and management agreements with the Group, under which the Group received management service income from the purchasers for managing and controlling the leases of the retail shops, event organization and ancillary service provision. The Group also provided the purchasers with services such as project positioning, planning, design, construction, marketing, leasing and operation so as to ensure the centralized operation of projects. In addition, the Group also provided general property management services for tenants and occupants. The Group develops and operates its trade logistics centers and multi-functional commercial complexes under the brands of “Wuzhou International” and “Columbus”. In order to unify the brand image of its specialized wholesale markets and multi-functional commercial complexes, the Group’s professional planning and marketing team is responsible for formulating its nation-wide promotion strategies and coordinating marketing activities. During the year under review, both the brand effect and visitor flow of its trade logistics centers and multi-functional commercial complexes recorded significant growth attributable to various marketing and promotion activities and sponsorship for a number of activities. Moreover, the asset management, construction, design and operation capabilities of the Group were highly recognized in the industry. As a result, the brands “Wuzhou International” and “Columbus” were well-received in the places where the Group operates. Prospects: Looking forward to 2017, China’s economic growth will continue to slow down as structural reforms continue to advance and the property market cools down. Fiscal policy will remain positive to support Chinese government’s 6.5% growth target. Industrial investment is expected to grow steadily and corporate earnings are expected to rebound. The Group takes a prudently optimistic view of its operating environment in 2017. The Company will continue to accelerate resources integration along the trade logistics industrial chain and build up a new business model with the “service platform for trade logistics of the industrial chain” as the core and “light asset business” and “development and operation of trade logistics parks” as the complements for its healthy business development, allowing the Company to be the leading operator of integrated trade logistics platforms in China.

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