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Public company info - Riverine China Holdings Limited , 01417.HK

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Riverine China Holdings Limited, 01417.HK - Company Profile
Chairman Xiao Xingtao
Share Issued (share) 405,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Management & Agency
Corporate Profile Business Summary: The group is a property management company in the PRC. Performance for the year: For the year ended 31 December 2019, the Group’s total revenue was approximately RMB481.5 million, representing an increase of approximately 22.8% from RMB392.3 million for the previous year. For the year ended 31 December 2019, net profit was approximately RMB20.5 million, representing a decrease of approximately 21.9% from RMB26.2 million for the previous year. Business Review: The Group, through its subsidiaries and investments in associated companies, provide a wide range of property management services and value-added services to a variety of properties in the PRC, a majority of which are in Shanghai. A few properties managed by the Group are located in Tianjin, Anhui, Zhejiang, Jiangshu, Henan, Fujian, Hubei and Hunan Provinces. During the Period, the Group through its subsidiaries and investments in associated companies had entered into 455 property management agreements for the provision of various kinds of property management services for the properties in the PRC, representing an increase of 13.8% as compared to 400 property management agreements in the previous year. During the Period, approximately 90.9% of total revenue was generated from provision of property management services to non-residential properties whereas the remaining 9.1% was generated from residential properties and other services. Hence, the Group’s property management services have been and will continue to be strategically focused on non-residential properties in the PRC. During the Period, the revenue was generated from the provision of property management services. Property management services comprise (i) engineering, repair and maintenance services, (ii) customer services, (iii) security services, and (iv) cleaning and gardening services. Approximately 99.0% of the revenue during the Period was generated from the provision of property management services on a lump sum basis. As to the lump sum basis, the customers pay a lump sum service fee for the management services and the Group bear all the costs and expenses involved in the management of a property or facility. Prospects: Looking forward, the Group will continue to provide quality property management services as well as value-added services targeting the commercial interests of customers, and develop and provide quality sanitary services for urban management. The Group plans to continuously grow its business efficiently and strategically through acquisitions and mergers, investments, joint ventures and business collaboration. The Group will expand its business vertically along the industry chain and the supply chain of the property management industry. In addition, the Group will strengthen the application of its information technology system as well as enhance its service quality for the customers and users of the properties under its management while launching the marketing of its information technology system to generate more revenues for the Group. Last but not least, the Group will promote the mechanism within the Company’s departments and the mechanism to coordinate subsidiaries in different regions to improve its operating efficiency. With the in-depth strength of the Group in capturing market opportunities, its wellestablished brand name in the industry and the strong growth potential in the property management industry and sanitary industry, the Directors believe that the Group’s business will continue to grow thereby further driving the growth of its market share and profits.

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