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Public company info - Sinic Holdings (Group) Company Limited , 02103.HK
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Sinic Holdings (Group) Company Limited, 02103.HK - Company Profile
Chairman Zhang Yuanlin
Share Issued (share) 3,570,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: During the year, the Group was involved in property development and property leasing. Performance for the year: For the Year, the Group recorded revenue of RMB26,984.9 million, representing a year-on-year increase of approximately 220.7% as compared with the previous year (2018: RMB8,415.7 million). Gross profit amounted to RMB7,998.5 million, representing a year-on-year increase of approximately 154.5% as compared with the previous year (2018: RMB3,143.0 million). Profit for the year was RMB2,014.3 million, representing a year-on-year increase of RMB1,459.3 million or approximately 263.0% (2018: RMB555.0 million). Core profit attributable to the owners of the parent was RMB1,852.7 million, representing a year-on-year increase of approximately 485.2% as compared with the previous year (2018: RMB316.6 million). The basic earnings per share of the Group was RMB0.64 per share. Business Review As of 31 December 2019, the Group had 117 property projects at different development stages, including 80 projects developed by its subsidiaries, 37 projects developed by its joint ventures and associates; and the total land bank attributable to the Group reached approximately 15.09 million sq.m., with both development scale and land bank displaying a rapid growth. From the perspective of the land bank locations, the attributable GFA to the Group in Jiangxi Province, the Yangtze River Delta Region, the Greater Bay Region and other core cities in Central and Western China accounted for approximately 33.1%, 17.3%, 32.5%, and 17.1%, respectively. In terms of saleable value, approximately 85% of the land bank was located in the first- and second-tier cities. With respect to land acquisitions, the Group has a clear strategic investment policy and has formulated standardized procedures. The Group set detailed timetables, goals, and requirements for different land acquisition methods in order to evaluate land acquisition opportunities and complete such acquisition in an efficient manner. The Group follows the following strict guidelines for land acquisition: firstly, the Group take root in the four major regions mentioned above, while establishing an investment system covering regions, cities and sectors to ensure well-targeted expansion; secondly, the Group has balanced land acquisition methods, focusing on public tender, auction and listing-for sale process as well as pre-application for land resources, for the purpose of enhancing land quality and project profitability; thirdly, the Group insists on cooperation while emphasizing on maintaining control of the projects thereby alleviating competition, complementing the Group's strengths, sharing risks with the Group's partners, which ultimately adds to the Group's service quality and competitive advantages. Prospects: 2020 marks the tenth anniversary of the establishment of Sinic. Looking forward into 2020, the sudden outbreak of the epidemic early this year has had a short-term impact on the economy of the PRC. The PRC government has demonstrated its efficient capability in prevention, control and overall social mobilization. The general public has also shown a collective effort for mitigating the risk and impact of the epidemic. Therefore, the Group is of the view that the society and the economy will soon recover. The Group is confident of the epidemic prevention and control capability as well as relevant measures of the PRC government, and are positive on the future economic prospect. In addition, the Group considers the possibilities of relevant economic stimulus policies introduced by the government after the epidemic. In this regard, the Group will still implement existing investment development strategy and specific plan, while proactively responding to relevant epidemic prevention measures imposed by the government, and will also pay close attention to any changes concerning the epidemic. Moreover, there will be a substantial increase in the demand for residential properties featuring health and environmental protection in the future, which may create new investment opportunities arising from products improvement, upgrades and changes. The outbreak of the epidemic may have an impact on the Group to a certain extent, depending on the duration of the epidemic and its development trend. The Group has always adopted a stable financial policy and prudent cash flow management, and the Group's cash flow remains healthy under the circumstances. In terms of sales, the Group will adopt a more active and agile product sales and pricing strategy in response to the market change, for example, a care-free house purchasing plan. In terms of operations, the Group will adjust the delivery cycle in a timely manner according to market demand. In addition, all construction sites have been resumed excepted Wuhan, the resumption rate is over 95% which is further increasing. In terms of finance, the Group will carry out a more prudent financial policy and strengthen cashflow management with an aim of securing steady development with a healthy financial condition. At the same time, the Group has seen that provinces and cities have successively released red-headed documents on support policies for real estate enterprises after the epidemic. The Group will cooperate with national policies to ensure the long-term healthy and stable operation of the real estate market. Looking ahead, the Group is confident that the Group will benefit from the growth in the demands for residential and commercial properties in Jiangxi Province, the Yangtze River Delta Region, the Greater Bay Region, the core cities in the Central and Western China and other regions with high-growth potential. In 2020, the saleable property value of the Group is abundant and mainly in four regions. The Group plans to expand its businesses into the national markets while consolidating its market position in Jiangxi, so as to increase its industry influence and enhance its brand awareness. As the real estate market has entered into a new normal, the Group will closely monitor market changes, adjust its short-term operating strategies in due time, and strive to make great strides towards its development goal of “keeping up as a national comprehensive property developer offering quality products and services in China.” With respect to the capital market, the Company has been selected by Hang Seng Index Company Limited as a constituent of the Hang Seng Composite Index, which took effect from 9 March 2020. At the same time, the Company has been selected as one of the eligible stocks included in Southbound Trading under Shenzhen Connect on 9 March 2020. The inclusion of the Company in the Hang Seng Composite Index shortly after its Listing, and admission to the Southbound Trading under Shenzhen Connect, is indicative of the investment value of Sinic Holdings and the high recognition by the capital market to the growth, financial condition and future development of the Group. Looking forward, Sinic Holdings will consolidate its current market position and further accelerate nationwide development of its business, striving to achieve the strategic development of “laying a solid foothold in Jiangxi for nationwide development”. With the recovery of the real estate industry and the flow of southbound funds, Sinic Holdings will attract the attention of more investors in the long run. In the upcoming year, the Group will endeavor to realize sustainable profitability growth and strive for a balanced development between scale and efficiency by adopting prudent financial policies and actively lower the leverage through multiple financing channels. As at 31 December 2019, the Group maintained sufficient bank facilities, established headquartersto-headquarters strategic cooperation with several banks, further optimized the terms of debts, and therefore provided strong support to the Company’s development with ample cash flows, and eventually repaid shareholders with greater value.

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