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Public company info - Logan Group Company Limited , 03380.HK

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Logan Group Company Limited, 03380.HK - Company Profile
Chairman Ji Haipeng
Share Issued (share) 5,689,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Property Development
Corporate Profile Business Summary: Logan Group Company Limited (stock code: 3380.HK) is an integrated urban service provider dedicated to creating a better living environment in China. The Group upholds a strategy that focuses on development with firmly rooted in local areas, strengthens internal-driven development based on different property business models, and adopts a four-pronged approach featuring residential development, urban redevelopment, commercial operation and industrial operation, forming an urban service ecosystem to boost urban development. Logan Group has mapped out a nationwide plan covering the most valuable core regions in China, such as the Guangdong-Hong Kong-Macao Greater Bay Area (“GBA”), the core metropolitan area in the Yangtze River Delta as well as city clusters in the southwestern and central parts of China. The Group has established its position as a leading player in the GBA. It is a constituent stock of the Hang Seng Composite LargeCap Index. Logan Group consolidates its sustainable development strategy to assure the availability of a mechanism for future development and to upgrade its corporate brand value on an ongoing basis in the following ways: 1. Management Mechanism: strengthens corporate culture, and cooperates with professional managers to create an incentive mechanism; implements a long-term partnership programme to create a staff development concept that enables all relevant personnel to reach a common ground, co-creates values and shares profits, and continuously reinforces the modern corporate management structure to enhance the Group’s professional management standards and core competitiveness; 2. Product Strategy: strengthens the Acesite, Sky and Jiangnan Series, and innovates the Modern Series. Through the continuous upgrading of these four product series, Logan Group is building a nationwide, sustainable brand for the healthy living environment in China; 3. ESG Policy: continues to improve Environmental, Social, and Corporate Governance (ESG) standards, and creates a win-win development ecosytem with shareholders, customers, partners and employees, and strives to become a well-respected sustainable enterprise which upholds high ESG standards. Performance for the year: Revenue amounted to approximately RMB71.08 billion, representing a year-on-year increase of approximately 23.7%. Core profit attributable to owners of the Company amounted to RMB12.04 billion, representing an increase of 20.1% as compared with that of year 2019, and demonstrated that the Group continued to maintain its leadership in the industry in terms of profitability. Net profit amounted to RMB13.37 billion, net profit margin was 18.8%. Core profit amounted to RMB12.39 billion. Core profit margin was 17.4% Business Review: Property Development Contracted sales In 2020, the Group continued to utilize its market advantages in the Guangdong-Hong Kong-Macao Greater Bay Area (“Greater Bay Area”) and achieved satisfactory sales performance. For the year ended 31 December 2020, the Group attained contracted sales of approximately RMB120.69 billion, representing an increase of approximately 31.9% as compared with year 2019. For the contracted sales in 2020, Greater Bay Area, Southwest region, Yangtze River Delta region, Singapore and other regions accounted for approximately 59.3%, 17.4%, 8.4%, 3.0% and 11.9%, respectively. The contracted sales were mainly generated from Greater Bay Area and Southwest region. For Greater Bay region, the sales were mainly generated from Logan • Acescene Park (龍光 • 玖悅臺) erected on the Hongshan subway station at the Shenzhen’s subway line 4, Logan • Acesite Park (龍光 • 玖龍臺) in Shenzhen Guangming New District. The sales from Southwest region were mainly contributed by projects, namely Nanning • Tianying (南寧 • 天瀛) and Nanning • Impressions of Discovery Bay (南寧 • 印象愉景灣). In 2021, Shenzhen Logan • Qianhai Project (龍光 • 天境) and new phases of Huizhou Logan City (龍光城) will continue to be launched for sale. C Newly commenced projects For the year ended 31 December 2020, the Group commenced construction of a total of 68 projects or new project phases with a total planned GFA of approximately 11.5 million sq.m.. Completed projects For the year ended 31 December 2020, the Group completed 61 projects or project phases with a total planned GFA of approximately 8.6 million sq.m.. Developing projects As at 31 December 2020, the Group had a total of 116 projects or project phases under construction with a total planned GFA of approximately 24.3 million sq.m.. Land Reserves For the year ended 31 December 2020, the Group acquired 37 new projects through public tendering, auction and listing with GFA of 4,842,133 sq.m.. Saleable resources and sales target in 2021 In 2021, the amount of the attributable saleable value of the Group to be launched is expected to reach approximately RMB240 billion. The targeted growth rate of attributable contracted sales for year 2021 is set at 20.0%. Prospects: The Group is striving to strengthen and enhance its position as “city’s comprehensive service provider”, and will continue to focus on four major business segments of “residential development, urban redevelopment, commercial operations and industrial operations”. The Group has established a diversified and standardized business model based on property industry chain to meet urban residents’ demand on property asset, space-related service and living platform. Owing to its abundant and high-quality land bank, and proven cross-regional strategic execution, the Group will continue to strengthen its effort to complete its national layout in the Guangdong-Hong KongMacau Greater Bay Area, Yangtze River Delta Region metropolitan area, southwest China and central China city-clusters. Leveraging on the competitive advantages of the urban redevelopment business, the Group will be able to foster commercial operations and industry operations business as a sustainable revenue stream to continue creating long-term value for the investors. The Group has adopted the share award scheme for professional trust management with a validity period of 15 years, which sets a performance growth indicator level higher than the industry average, and up to 3% of the Group’s total issued shares. The introduction of this scheme will help to attract, motivate, and retain core outstanding talents, while consolidating the shared value mechanism co-founded by career managers. Furthermore, the Group’s core competitive strength has been enhanced to advance the Group’s long-term sustainability development. Given the accelerating market share concentration trend in the property industry, by utilizing its extensive operational experience in the real estate industry, the Group will actively seize opportunities of land acquisitions in the future, seek for more mergers and acquisitions targets to diversify and increase the Group’s premium land banks, thereby locking in more high-return projects at the lowest costs. The Group will also accelerate sales cycle and strive to enhance the overall product competitiveness of different projects. The Group will continue to uphold its philosophy of “quality builds a brand” and incessantly strengthen its market competitiveness and penetration, so as to become a leading comprehensive service provider.

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