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Public company info - Dexin China Holdings Company Limited , 02019.HK
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Dexin China Holdings Company Limited, 02019.HK - Company Profile
Chairman Hu Yiping
Share Issued (share) 2,701,000,000
Par Currency U.S. Dollar
Par Value 5.0E-4
Industry Property Development
Corporate Profile Business Summary: The Company is an investment holding company. The Company now comprising the Group are principally engaged in the property development and construction services, property investment and hotel operations 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 RMB15,668.8 million, representing a year-on-year increase of approximately 64.7%. Profit attributable to owners of the Company decreased by approximately 23.4% year-on-year to approximately RMB1,192.5 million for the year ended 31 December 2020. Business Review: The Group derives its revenue primarily from sales of properties and, to a lesser extent, property construction and project management services, lease of commercial properties and hotel operations. For the year ended 31 December 2020, the Group recorded a total revenue of approximately RMB15,668.8 million, representing a year-on-year increase of approximately 64.7%. Contracted sales For the year ended 31 December 2020, including those of joint ventures and associates, the Group recorded contracted sales of approximately RMB63,530 million, representing a year-on-year increase of approximately 40.9%, and contracted gross floor area (“GFA”) sales of approximately 3,114,000 sq.m., representing a year-on-year increase of approximately 26.5%. The average selling price (“ASP”) of the Group’s contracted sales for the year ended 31 December 2020 was approximately RMB20,401.4 per sq.m., representing a year-on-year increase of approximately 11.4%. Sales of properties For the year ended 31 December 2020, the revenue from sales of properties increased by approximately 64.5% year-on-year to approximately RMB15,513 million, accounting for approximately 99.0% of the total revenue of the Group. For the year ended 31 December 2020, the Group recognised total GFA of approximately 1,056,576 sq.m., representing an increase of approximately 49.3% as compared to the year ended 31 December 2019. The ASP of the properties recognised as property sales was approximately RMB14,683 per sq.m., representing an increase of approximately 10.2% year-on-year. The increase of ASP was mainly due to the significant increase in the recognised GFA of areas with higher ASP. Property construction and project management services For the year ended 31 December 2020, the revenue from property construction and project management services increased by approximately 181.7% year-on-year to approximately RMB36.9 million, accounting for approximately 0.2% of the total revenue of the Group. The increase was primarily attributable to an increase in the volume of the Group’s construction and project management services. Lease of commercial properties For the year ended 31 December 2020, the revenue from rental income increased by approximately 83.5% year-on-year to approximately RMB100.4 million, accounting for approximately 0.6% of the total revenue of the Group. The increase was primarily attributable to the increased numbers of investment properties (including Hangzhou Wings (杭州之翼) and Binhai Commercial Plaza (濱海 商業廣場), etc.) and an increase in occupancy rate of the Group’s investment properties such as Artificial Intelligence Industrial Park (AI產業園) in Hangzhou during the year. Hotel operations For the year ended 31 December 2020, the revenue from hotel operations increased by approximately 48.7% year-on-year to approximately RMB18.0 million, accounting for approximately 0.1% of the total revenue of the Group. The increase was primarily attributable to an increased number of hotel projects. Land reserves Leveraging on the Group’s deep understanding of the property markets in the Group’s key development areas and intensive studies on its target cities, the Group continued to strategically select and acquire parcels of land at strategic and advantageous locations in those regions and cities in order to further develop the Group’s presence in those markets. As of 31 December 2020, the Group (together with its joint ventures and associates) had 166 projects with land reserves amounting to approximately 16,256,313 sq.m., of which 150 projects were located in the Yangtze River Delta Region, and the remaining 16 projects were located in 26 cities in the Pearl River Delta, ChengduChongqing economic areas, the economic belt of middle reaches of Yangtze River and other regions. HONORS In 2020, thanks to its robust operation, the Group won many honors and rewards, including “China’s Top 10 Listed Real Estate Enterprises in Solvency 2020” (2020中國上市房企償債能力 TOP10), “Top 50 Real Estate Enterprises in Yangtze River Delta 2020” (2020長三角區域房地產 50強企業), No. 2 of “Wenzhou Resident Satisfaction Index” (溫州市居民滿意度指數), No. 4 of “Hangzhou Resident Loyalty Index” (杭州市居民忠誠度指數), “Top 10 Financial Role Models of Listed Real Estate Enterprises 2020” (2020年上市房企十大財務健康榜樣), “The 5th Golden Hong Kong Stocks Awards – Best Real Estate Company” (第五屆金港股-最佳地產公司), No. 22 of “Comprehensive Strength Ranking of Listed Real Estate Companies”(地產上市公司綜合實力 排行榜), “Most Valuable Real Estate Company for Investment of the Year” (年度最具投資價值 地產公司), and No. 2 of “Top 10 Listed Real Estate Enterprises in Wealth Creation” (中國上市房 企財富創造能力10強). The Group has won the title of “China’s Top 100 Real Estate Enterprises” (中國房地產百強企業) for eight consecutive years, ranking the 56th in 2020. These honors and awards highlight the Group’s market position and indicate that the Group’s business development and performance have been widely recognized by the market. Prospects: The year 2021 marks the start of China’s “14th Five-Year Plan”. By then, the effect of the pandemic on domestic economy may be mitigated and the economic and social activities may return to normal. As the investment rebounds are led by the fast growth of infrastructures and real estate investment, the contribution of consumption will be improved significantly and the supply side will further speed up growth. It is expected the growth of China’s economy will pick up significantly by 2021. Real estate is the cornerstone and stabilizer of the development of China’s economy. In 2021, as the economy indicators turn positive, the confidence and market demand in the real estate industry will also recover soon. However, “houses are for living in and not for speculative investment” remains the keynote of the development of the industry. Given the government’s implementation of a system encouraging both housing purchases and rentals, varied policies for different cities and the “Three Red Lines”, the land market may be subject to a tightened financing environment and intensified policies. By 2021, it is expected that the real estate enterprises will continue to accelerate the launch of properties for the return of funds and the real estate industry will start a rational and high-quality development stage. Against this backdrop, the Group will also keep strictly controlling financial risk, improving its structure of capital and debts and diversifying financing channels while expanding scales, in order to realize sustainable high-quality development. As the largest economic circle in China, the Yangtze River Delta region has 8 cities with GDP exceeding RMB1 trillion each, including Shanghai, Suzhou and Hangzhou, etc., accounting for approximately one-third of all RMB1 trillion GDP cities in China. Currently, the implementation of the national strategy to facilitate the integrated development of the Yangtze River Delta region is accelerating in full, as reflected by the rapid development of traffic, economy and industry. The introduction of a large number of high-quality talents is expected to provide more solid support on the demand side to the real estate market in the region, hence a positive market prospect. Engaged in the real estate industry in the Yangtze River Delta region for years, the Group has distinctive leading position in the region for its localized brand, which provides strong support to operation and marketing. The Group also continues to be engaged in its long-term development and identifies potential land acquisition opportunities in the Yangtze River Delta region, as a core metropolitan area with frequent inter-city population flows and extensive housing demands. Against the new background, the Group is expected to seize the opportunity from the high-speed development of this region, continuously explore premium land resources and further enhance its position in the real estate industry. Looking forward, although the prosperity of the real estate industry has gone, in view of the current downward pressure on the macroeconomy and people’s changing attitude toward residence, consumption and culture, the role of the real estate industry in supporting the development of the economy as a whole in a steady manner cannot be ignored. In the post-pandemic era, the real estate industry comes to another stage of development characterized by bigger disparities and rising competition in a more refined manner. In the future, the Group will continue to uphold the management concept of “doing a good job internally, developing steadily, focusing on customer needs and creating value for customers”, adhere to the quality image of “Hangzhou workmanship” to enhance fundamental management, reduce cost, improve quality, increase efficiency and optimize resources allocation. Sticking to the strategic layout of “being rooted in Zhejiang, focusing on the Yangtze River Delta, and extending to key hub cities of China” and leveraging its extensive experience of real estate development in the Yangtze River Delta region, the Group will forge ahead to improve its brand competitive edge and market position in the fthe Group’s core metropolitan areas and further rely on its advantage of being an integrated investment and development operator in order to create better living spaces in cities and support the sustainable high-quality development of cities. Meanwhile, the Group will review the situation and grasp investment opportunities to maximize profitability, realize “high-quality development” and provide satisfiable investment returns to investors in a sustainable manner.

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