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Public company info - China SCE Group Holdings Limited , 01966.HK

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China SCE Group Holdings Limited, 01966.HK - Company Profile
Chairman Wong Chiu Yeung
Share Issued (share) 4,222,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: The Group was principally engaged in property development, property investment and property management in the People’s Republic of China (the “PRC”) during the year. Performance for the year: For the year ended 31 December 2019, the Group recorded a revenue of approximately RMB21.370 billion, representing an increase of approximately 20.2% over last year. Profit attributable to owners of the parent amounted to approximately RMB3.510 billion, representing a growth of approximately 3.7% as compared with last year. Earnings per share was approximately RMB84.9 cents. In 2019, the gross profit margin of the Group was approximately 27.6%. Business Review: CONTRACTED SALES In the context of the normalisation of real estate control policy in Mainland China, the industry’s sales growth has slowed down, and the profit margins of property developers have also been affected. “No Speculation of Residential Properties, Policy by City” is still the main tone of the control policy, and the real estate market in each city continues to diverge. With the continued demand for commodity housing in the Mainland, the sales of commodity housing nationwide in 2019 continued to increase year-on-year. LAND BANK STRATEGY In order to promote economic development, in the first half of 2019, local governments frequently introduced new household registration policies to attract more talents. At the same time, the market is looking forward to the relaxation of real estate control policies, which has led to a rebound in house prices and transaction volume. However, the Group adhered to the principle of prudent land expansion at reasonable costs. The Group has also reduced land purchases since the third quarter of the year, in the hope of resuming active purchases when the price reduced to normal price in the fourth quarter of the year. Prospects: By early 2020, the COVID-19 disease has spread all over the world, which may inflict a short-term blow to the global economy. Although the outbreak comes under control in the initial stage in China, the global economic situation remains grim against a backdrop of increasing internal and external uncertainties. The economic growth of China is expected to also slow down further. In order to stimulate economic growth, it is believed that the central government will adopt a flexible monetary policy and proactive fiscal policy. The outbreak of disease has affected, to a certain extent, the land transactions, construction progress, sales scale, and liquidity of the real estate industry in the first quarter of 2020. In order to maintain the stable and healthy development of the real estate industry, it is expected that the local governments will introduce more encouraging or stimulating policies. In addition, there will be a continuous improvement of the overall financing environment with a further reduction in loan interest rates, from which the real estate industry is expected to benefit. The purchasing power for commodity housing is expected to, therefore, once again grow. In general, the unit price and transaction volume of commodity housing in 2020 is expected to remain stable. Despite the fact that the Group has no projects in Hubei Province, the epidemic situation still has some implications on the Group’s operations. The Group has taken decisive measures to reduce the epidemic’s impact on the Group’s operations and finances, such as adjusting the sales launch of properties, strengthening online marketing, accelerating the recovery of pre-sale proceeds, enhancing management of cash flow and project progress, and implementing rent reduction measures to merchants in stages to tide over the difficult period with the merchants.

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