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Public company info - Country Garden Holdings Co. Ltd. , 02007.HK
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Country Garden Holdings Co. Ltd., 02007.HK - Company Profile
Chairman Yeung Kwok Keung, Yeung Kwok Keung
Share Issued (share) 22,035,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: The Group is principally engaged in the property development, construction, fitting and decoration, property management and hotel operation. Performance for the year: For the year of 2019, the Group’s total revenue rose by 28.2% year on year to approximately RMB485.91 billion. The Group’s net profit increased by 26.1% year on year to approximately RMB61.20 billion. The profit attributable to the owners of the Company rose by 14.2% year on year to approximately RMB39.55 billion. Business Review Our country has been thriving under the reform and opening-up policies. This has inspired us with confidence in the ability of the diligent and brave Chinese people to overcome the present difficulties. Undoubtedly, as entrepreneurs, we should not only tackle the current situation competently but also be visionary: The direction of our development, how well we harness our competitive strengths determine how Country Garden can contribute more to society and generate greater returns to investors. Forging ahead confidently: Urbanization is the way forward China’s urbanization and modernization have enabled Country Garden to succeed. Nowadays, agriculture has seen its productivity increase because of the adoption of advanced farm machinery. This has freed up more manpower for the country’s urbanization, allowing an enormous amount of the rural population to pursue a better life in the urban areas for their convenience of living, employment, education, commercial activities and medical care. As urbanization continues unimpeded, Country Garden capitalizes on the trend by building up a nationwide, balanced geographical market coverage. Adhering to this strategy has sharpened the Company’s competitive edge. It has come up with its own winning formula: For the year ended 31 December 2019 (the “Year”), the Group together with its joint ventures and associates recorded approximately RMB552.20 billion in contracted sales attributable to the shareholders of the Company. As of 31 December 2019, the Group had gained footholds in 282 cities and 1,299 counties/townships in 31 provinces/autonomous regions/municipalities in mainland China. During the Year, the Group’s revenue increased by 28.2% to approximately RMB485.91 billion; gross profit grew by 23.6% to approximately RMB126.64 billion; net profit increased by 26.1% to approximately RMB61.20 billion; profit attributable to the owners of the Company rose by 14.2% to approximately RMB39.55 billion; and core net profit attributable to the owners of the Company increased by 17.6% to approximately RMB40.12 billion. The Company has made it to the Fortune Global 500 List for three consecutive years since 2017 and it has improved its ranking significantly in the list to 177th this year, up by 176 places compared with that in 2018. Braving the headwinds to make steady progress towards success Started up by seven people, the Company now has more than 100,000 staff which include over 1,000 holders of doctorates. We have been fortunate to work shoulder to shoulder with the best in class to advance the development of the Company while creating a platform for their career advancement. To match our company’s development, we have put in place programmes of recruiting and fostering professional and highly efficient teams. For instance, we have groomed more than 34 employees for the posts of regional presidents and regional vice presidents through the “Programme of Fostering Future Leaders” and the “Country Garden Trainee Programme”. A promising future awaits them. Moreover, we have been able to retain the top talents who are vice presidents at the group level and have formed the stable, core management team. At an average age of 46 years, they are in their prime and have proven their capabilities throughout the economic cycle. With their endeavour, our team has been able to ceaselessly improve both itself and its competitive strengths, press ahead with a prudent approach to business operation and thus generate good returns to shareholders despite numerous difficulties over the years. During the Year, the Group had collected consolidated cash inflow from property sales of approximately RMB589.86 billion and achieved positive operating cash flow for four consecutive financial years since 2016. As at 31 December 2019, its available cash2 amounted to a historic high of approximately RMB268.35 billion, and its net gearing ratio decreased by 3.3 percentage points to 46.3%, indicating a healthy financial condition. The Group’s unused bank credit lines totalled approximately RMB316.79 billion. The Group has been well recognized by credit rating agencies and major financial institutions for its plentiful working capital and strong financial position and has thus secured support from them. Scientific planning for high-technology business which is the way forward Keeping pace with the era of flourishing technologies, Country Garden Bright Dream Robotics project has already been researching on and developing robots since July 2018. Specifically, it has also been studying ways of manufacturing and using robots for the construction industry. It has recruited 3,256 outstanding researchers and developers at home and abroad to work on key products and to make breakthroughs in the development of crucial technologies. In the pipeline is research on 50 types of construction robots, of which 32 is being tested at construction sites. They surpassed manual labour in both safety and efficiency by a wide margin. Until now we have applied for 1,843 patents on the results of our research and development and we have been granted 327 patents. As a result of our efforts, we now have proprietary core technologies in the key areas of application. We are now aiming for the combination of robotics and advanced construction technologies and aspire to develop the most advanced intelligent manufacturing capability in the world. In the not too distant future, we will see robots working day and night on safe, healthy, stylish, affordable and durable housing. They will even probably be used in property management, medicine, catering industry and agriculture. We will conduct scientific planning to increase the chance of success for the robotics business which can then add to the strength of the Group’s property business. This can create great value for investors. Engaging in targeted poverty alleviation programmes and modern agriculture to fulfil social responsibility: working for the well-being of people and society at large to ensure sustainable development We owe our success to the urbanization and modernization of our country. To give back to society, we have made targeted poverty alleviation programmes and modern agriculture the mainstay businesses of Country Garden. Since its establishment, the Group, together with Chairman of the Board, Mr. YEUNG Kwok Keung and his family, has donated over RMB6.4 billion to charity and carried out its work in poverty alleviation and the revival of rural economy in 14 counties in nine provinces, helping 336,000 people eradicate poverty and even get rich. In our business of modern agriculture, we have adopted advanced technologies and equipment for production. For instance, we have used robot technology to build advanced, unmanned farms. We have also linked our farms directly to the community-based retail channels to reduce the number of intermediaries, thus decreasing the transaction costs for both the farmers and consumers. Therefore, the Group is able to grow and provide safe, delicious, affordable and diverse agricultural produce for the communities at its property projects and even for a wider domestic market. This serves as the Group’s contribution to the revival of rural economy and complements its targeted poverty alleviation programmes. For its hard-earned achievements, Country Garden feels grateful to our country, whose reform and opening-up policies have set the stage for its development. The Company firmly believes in shouldering its social responsibility to give back to society. To join hands with all the people in our country to fight against the novel coronavirus pneumonia, Country Garden has recently established a fund for that purpose and has donated money to it. Donations to the fund have totalled RMB200 million. The Company has also set up a care fund for medical workers and volunteers, purchased scarce medical supplies worldwide and then delivered them directly to the epidemic areas. It has also provided the sealed off areas and mobile cabin hospitals with catering robots free of charge. In addition, it has built production lines for medical masks. All this is Country Garden’s effort to assist our country in fighting the epidemic. Prospects: In the year of 2020, COVID-19 outbreak has caused a short-term impact on various industries. Under the effective control measure of Chinese government, the outbreak has been gradually controlled. So we believe consumer confidence will be gradually recovered and potential housing demand will not be reduced. However the construction and sales progress of the group may be exposed to short-term volatility because of the outbreak mentioned above. The group will be closely monitoring the level of its impact. The Group will continue to strengthen balance sheet and cash collection as a hedging strategy against potential uncertainty. In the long run, it is expected that the government will continue to implement a long-term mechanism for real estate market for its steady and healthy development. At the same time, urbanization in China is far from over. The county and township dwellers’ ongoing desire to improve their housing conditions makes a huge potential for property development in the country. To embrace the challenges and opportunities brought by the change of the market, the Group will continue to adopt prudent financial policies and risk control measures, enhance the quality of the buildings and ensure safety, apply a more conservative and practical strategy on new land acquisition to ensure the marketability of future projects and optimize geographic diversification, strengthen its contracted sales and cash collection and apply strict cost control to strengthen operating cash flows and ensure investment return. Meanwhile, catering to the new trend and market demand like artificial intelligence industry innovation, aging workforce problem in the construction industry and consumers’ improved standard on food safety, the Group has constructed a corresponding investment portfolio, which covers the businesses of intelligent manufacturing, construction robots, modern agriculture and community retail. Besides, on the basis of steady operation, the Group will make flexible adjustments according to the market situation, focus on the continuous increase of profitability and all-rounded development. Looking forward, the Company will continue to actively explore the value of businesses and assets within the value chain of real estate, focus on the residential and related demands brought by urbanization, and establish an integrated platform covering the entire life span for our clients

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