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Public company info - Overseas Chinese Town (Asia) Holdings Ltd. , 03366.HK
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Overseas Chinese Town (Asia) Holdings Ltd., 03366.HK - Company Profile
Chairman Zhang Dafan
Share Issued (share) 748,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: The principal activities of the Group are comprehensive development, investment and fund business, finance lease and paper packaging. Performance for the year: For the year ended 31 December 2019, the Group realised revenue from the continuing operations of approximately RMB2.07 billion, representing an increase of approximately 30.7% compared to the same period of 2018, For the year ended 31 December 2019, profit attributable to equity holders of the Company was approximately RMB267 million, representing a decrease of approximately 66.6% compared to the same period of 2018, For the year ended 31 December 2019, the basic earnings per share attributable to shareholders of the Company was approximately RMB0.04, representing a decrease of approximately 94.8% over the same period of 2018 (2018: approximately RMB0.77). Business Review In 2019, China’s macro-economy remained steady and positive with strong momentum for continuous growth, while facing complicate internal environment and challenging and ever-changing external environment. With regard to external environment, the rising unilateralism and protectionism in the global economy has resulted in a surge in instability and uncertainty. During the year, although Sino-US economic and trade frictions showed signs of turnaround, Brexit was still hang in the air. The tension in Middle East has escalated, and renminbi exchange rate has become more volatile. With regard to internal environment, the compounding effects of inadequacy and imbalances posed by self-development have increased difficulties for China in maintaining growth and preventing risks. However, the quality of Chinese economy has improved steadily at the same time. With continuous growth in people’s income, the role of consumption as the main driver of economic growth was further solidified. As China officially entered into the opening year of 5G commercial-use, the new drivers of economic growth is continuously maturing and growing. With the official launch of the Sci-tech Innovation Board and the Shanghai-London Stock Connect, China’s capital market also continued the journey of exploration, development and reform. During the Period under Review, due to steep challenges arising from internal and external environments, along with the Group’s ongoing strategic transformation and other factors, The Group’s overall operating results experienced fluctuations. However, as the transformation progressed, the new businesses of the Group such as equity investment and fund as well as finance lease have shown positive development momentum. During the Period under Review, the Group realised revenue from the continuing operations of approximately RMB2.07 billion, and profit attributable to equity holders of the Company amounted to approximately RMB267 million. 2019 was the third year that the Group implemented the “strategic transformation”. During the Period under Review, the Group attained interim achievements in each task, laying a solid foundation for the continuous growth in operating results and increase in profit elasticity in the future. In 2019, the Group continued to strengthen comprehensive development business with the two driving forces of asset and capital. Concentrating on the directions such as culture, tourism and new urbanisation, and through approaches such as independent investment and cooperation with outstanding companies, the Group successfully expanded high quality strategic projects such as the Hefei Chaohu Bantang Hot Spring Town Project and the Hefei Airport International Town Project (first phase), constantly deepening its layout in all aspects in key cities located in the Yangtze River Delta. Upholding its strategic development direction, the Group fully leveraged on the capital market and innovative financial instruments to move toward the goal of becoming an industry investment group, and succeeded in initiating the fund business. The Group jointly completed the establishment of the funds exceeding an aggregate amount of RMB1,560 million, including Xiamen OCT Runyu Investment Partnership (Limited Partnership), and participated in the investment of Guangzhou Yueke Talent Entrepreneurship Investment Partnership (Limited Partnership), thus strengthening its influence and voice within the industry. Following the withdrawal from New China Innovation Fund SPC, which invests in the equity of DJI Innovations, The Group further conducted profit-taking in projects including Tianli Education. Through constant exits from investment projects, the business model cycle of “fundraising, investment, management and exit” has been refined, so as to create a specialised investment Group. In 2019, the Group was awarded the award of the “Best Corporate Governance in Listed Companies” by the ninth China Securities Golden Bauhinia Awards, indicating that the corporate governance level of the Company has gained market recognition. Prospects: Comprehensive Development Business In 2020, under the premise of maintaining the stable operation of the real estate market, the main principle of “houses are for inhabitation, not for speculation” will remain unchanged. With the ongoing progress of urbanisation, there will be constant demand for improved living conditions, which will provide stronger support to the market scale. It is expected that demand in the real estate market of China will remain relatively high. However, due to the great differences between each city and region, the differentiation of urban policies in different cities under the control policy of “implementation of policies according to local conditions” will be deepened. At the same time, the five mega city clusters will become China’s most promising regions with the most development potential in the future, especially core city clusters in China, namely the Beijing-Tianjin-Hebei Area, the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, which are likely to develop into world-class city clusters with global influence. In 2020, the Group will firmly grasp the development opportunities in the Yangtze River Delta Area and the Guangdong-Hong Kong-Macao Greater Bay Area and further its efforts in the comprehensive development projects that focus on new urbanisation, cultural tourism, hot spring and healthcare. The Group will actively pay attention to and search for diversified investment opportunities, strengthen strategic synergy and business cooperation with invested enterprises. Through various ways such as acquisition, cooperation and equity investment, The Group will acquire high-quality lands at low cost to increase resource reserve for the projects. On the other hand, The Group will accelerate the sell-through of existing projects, increase liquidity and revitalise existing resources through various measures, so as to catalyse the reform and upgrade of the comprehensive development business. In 2020, the planned comprehensive development projects of the Group are as follows: the first batch of residential products of Hefei Chaohu Bantang Hot Spring Town Project, which occupies 101,000 sq.m., is expected to be launched in the middle of 2020, while the construction of water parks, hotels and certain commercial projects is expected to commence in the second half of 2020. The planning of Hefei Airport International Town Project has been completed and is expected to commence construction in the first half of 2020, and commence project sale in 2021. The Group does not rule out the possibility to continuously bid for the land use rights for Phase II of the project during the year. Phase I of high-rise residential properties of Zhongshan Yuhong Project is expected to commence sale at the end of 2020, with a total saleable area of approximately 257,000 sq.m., while the construction of Phase II of the high-rise residential properties is expected to commence in the first half of 2020. The Group will step up its selling efforts for products under Shanghai Suhewan Project and Chongqing OCT Land Project. The transformation and upgrade of industrial properties and the construction of industrial parks are to witness promising prospects as local governments introduced policies in relation to the separate sales of title of industrial properties. By combining location advantages and integrating surrounding resources, the Group will actively research on innovative development models for existing industrial lands, and continue to push forward industrial park operation and new project construction in the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region. Following the completion of the OCT Changshu Industrial Park Project in 2020, the leasable area will be increased by approximately 38,700 sq.m., and is scheduled to be leased to the public in the second quarter of 2020. Equity Investment and Fund Business Looking ahead to 2020, government-guided funds will strengthen its efforts on deployment in equity investment, while investment institutions will head toward the new market norm of differentiated competition. With regard to funds, it is expected that in 2020, leading private equity fund managers will continuously gain size in funds under management and enjoy resource advantages, while large foreign investment institutions are more poised to register and incorporate private equity firms in China. Along with the continuous development of domestic private equity funds as well as the rising professional level of investors, private equity product lines will also be continuously enriched, gradually moving closer to a mature financial market. The transition of the approval system to the registration system will also provide more exit channels for fund projects. Being Overseas Chinese Town Group Company Limited (“OCT Group”)’s only offshore listed company and leveraging on its parent company’s leading position in the culture and tourism industry, the Group’s equity investment and fund businesses will be able to gain a strong foothold in the Yangtze River Delta and the Guangdong-Hong Kong-Macao Greater Bay Area, with a primary focus on industries including culture, tourism, technology, education, consumption, healthcare and new urbanisation, etc. The Group will fully leverage on its strengths in industry investment and merger and acquisition, tap the growth potential of relevant industries from an industry perspective, increase project resource reserves, explore channels to create synergy, enhance post-investment management efficiency, and facilitate the rapid development of the invested enterprises. With regard to the raising and utilisation of funds, The Group will conduct fundraising with high efficiency through various financing methods, and increase the profitability of projects by utilising the lower capital costs. With the management throughout the process of “fundraising, investment, management and exit” being refined, liquidity will be improved, and resource allocation will be optimised. With regard to equity investment, The Group will primarily focus on high quality companies which possess the potential to become leaders in specific segments, as well as enterprises with unique characteristics and certain market entry barriers in specific segments. The Group will actively explore equity investment opportunities through the prudent selection of high-quality projects. With regard to fund management, through extensive cooperation with leading fund investment institutions and unleashing their respective professional strengths, the Group pays extra attention to high quality potential targets in their initial establishment and growing stage, fully leverages on social capital and gradually expands the size of funds under management step by step. Finance Lease Business In 2020, the Group’s finance lease business will keep up with macro-environment changes and CBIRC’s regulatory trends with proactive expansion and tight risk control. The Group will conduct finance lease business in sectors such as theme parks and the manufacturing industry, and step up efforts to push forward the expansion of The Group’s business in order to constantly increase operating income.

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