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Public company info - Sansheng Holdings (Group) Co. Ltd. , 02183.HK
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Sansheng Holdings (Group) Co. Ltd., 02183.HK - Company Profile
Chairman Lin Rongbin
Share Issued (share) 491,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Investment
Corporate Profile Business Summary: The principal activities of the Group are property development and sale, and property investment. Performance for the year: Total revenue of the Group for the year ended 31 December 2019 amounted to approximately RMB2,046.3 million (for the year ended 31 December 2018 (restated): approximately RMB2,111.9 million). The gross profit increased from approximately RMB381.1 million for the year ended 31 December 2018 (restated) to approximately RMB750.7 million for the year ended 31 December 2019. For the year ended 31 December 2019, the Group recorded profit attributable to equity shareholders of the Company of approximately RMB69.3 million. For the year ended 31 December 2019, basic earnings per share was approximately RMB15.70 cents. Business Review The overall operation of the Group was satisfactory and its financial position maintained stable and healthy in 2019, while substantial revenue from sales of properties and gross profit were achieved during the year. With the support from Sansheng Group, the Group implemented strategic plan orderly during the year under review, the Group proactively selected property development projects from those cities with a robust economy and avoided the projects from areas where stringent real estate macro-control policies such as restrictions on purchases and prices were in effect. The Group has obtained a number of quality projects through acquisition and the public land auction market, which contributed to its land bank and have laid a cornerstone for its property development business in the future. During 2019, Binjiang International project in Cangshan District Fuzhou City and International Coast project in Longhai Zhangzhou City, both located in Fujian Province have been partly delivered. Apart from the projects located in Wujin Changzhou Jiangsu, Shenhe Shenyang Liaoning and Zhangpu Zhangzhou Fujian, other projects of the Group have started pre-sale, and the total contracted sales amounted to approximately RMB11,322.4 million. PROPERTY INVESTMENT The Group’s portfolio of investment properties comprises certain properties in Hong Kong and Mainland China. The investment properties in Harbin and Qingdao have been leased out, while part of the investment properties in Fuzhou have been leased out. The Group is proactively considering leasing or selling industrial building units in Hong Kong. The Group will from time to time review its investment properties portfolio and make every endeavour to increase its rental income. Property development and land bank As at 31 December 2019, the Group had a total of 22 property projects under development and held for future development. Total site area of its land bank was approximately 1,425,799 sq.m. and the planned total GFA was approximately 4,320,951 sq.m., of which 3,212,180 sq.m. were attributable to the Group based on its equity interests. Land acquisition in 2019 In 2019, the Group acquired interests in a total of 8 new land parcels. The total planned GFA of the new land acquisition amounted to approximately 1,939,255 sq.m., of which 1,650,448 sq.m. were attributable to the Group based on its equity interests. Total contract consideration for its land acquisition amounted to approximately RMB5,181.3 million, of which RMB4,659.9 million was payable by the Group according to its equity interests in relevant projects. Based on the Group’s attributable planned GFA acquired and the attributable acquisition considerations, the Group’s average land acquisition cost in 2019 was approximately RMB2,823.4 per sq.m.. Prospects: Capitalizing on Sansheng Group’s brand, capital, professional experience and its professional workforce, the Group has been actively acquiring quality land for its land bank resources through both acquisitions and cooperation as well as participation in public land auctions. Meanwhile, in order to meet the development need in the future, the Group will pursue industrial and real estate integration and explore development models to cooperate with third-party industries in order to increase the amount and quality of the lands that The Group gain. The Group will continue to enhance the returns from its commercial properties and their capitalization, periodically review its investment properties portfolio and make every endeavor to increase its rental income level. 2019 was the year for the 70th anniversary of the founding of the People’s Republic of China and was the critical year to build a moderately prosperous society in all respects. Although economic growth has slowed down, the general structure has been improving. There is rooms for urbanization progress in the Mainland China. As the important part of the structure of Chinese economy, the real estate market still plays an irreplaceable role. The residents in cities are shifting from “satisfying the needs of living” to “pursuing a better living”, which has led to the rising demand in high-quality residential products. In early 2020, there was a sudden outbreak of COVID-19 in the Mainland China, which has caused strike on the real estate industry. It is expected to have a more serious influence to the first quarter of the business of the industry. To cope with this, the Group has actively deployed its plans and adopted a serious of countermeasures, including proactively adjusting the business plans to secure the safety of cashflows; adopting contactless online innovative marketing model to achieve sales completion; keep an eye on the government’s assistance policies implemented against the epidemic and fight for help and preferential conditions; explore opportunities for acquisition and merger of small and medium-sized, project-based real estate enterprises. The Group believes that the epidemic is a temporary situation. Its effects on the general real estate industry in the Mainland China are not decisive. Through making active and effective responds as well as exploring opportunities in risks, outstanding enterprises can turn “risks” into “opportunities” and stand out after the epidemic is over. In this new year, facing the fluctuation in the economic environment, The Group believe that the long-term basic elements which support the stable development of the property industry in the Mainland China will be maintained. The general market environment matches with the development ideas of focusing on the economic prosperous regions in the Mainland China and adhering to create high-quality products. Accordingly, while pursuing to expand The Group’s business scale, the Group also have devoted efforts in enhancing its operational efficiency and profitability. On business level, The Group will closely monitor the changes in market conditions and governmental policies, allocate resources for deeper research and business development, and look for appropriate opportunities through careful selection of investment choices. On strategy level, on the back of The Group’s strategic geographical layout, cultivating a professional and highly efficient workforce, and developing of sophisticated products and quality services. In this way the Group can maintain its competitiveness and promising prospects as it continuously strives to become the benchmark in real estate industry.

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