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Public company info - Ever Reach Group (Holdings) Company Limited , 03616.HK

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Ever Reach Group (Holdings) Company Limited, 03616.HK - Company Profile
Chairman LI Xiaobing
Share Issued (share) 1,200,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The Group is principally engaged in property development business in the People’s Republic of China (the “PRC”). Performance for the year: During the year ended 31 December 2019, the revenue of the Group reached approximately RMB1,974.1 million (2018: RMB1,883.6 million), representing an increase of approximately 4.8%. By continuing to adhere to the principle of “Integrity Management, Fulfilling Every Promise”, the Group, with outstanding innovation spirit and untiring efforts, makes due contributions to society with sincerity, kindness and responsibility. In 2019, the Group was awarded the “Top 100 Private Enterprises in Henan Province” (河南民營企業100強) by the Industry & Commerce Association of Henan Province (河南省工商聯合會), and was again awarded the “Top 100 Modern Services in Private Enterprises in Henan Province”(河南民營企業現代服務業100強). The Group has been working towards its annual and mid to longterm goals by making progress in internal management, project operation, brand promotion, standardization, and information construction. In 2019, the Group continued its expansion, acquiring a total of approximately 248,854 square meters of land through the process of bidding invitation, auction or listing, of which (i) approximately 124,213 square meters of land was acquired in Xuchang City; (ii) approximately 57,200 square meters of land was acquired in Yuzhou City; (iii) approximately 25,533 square meters of land was acquired in Changge City; (iv) approximately 6,199 square meters of land was acquired in Yanling County; and (v) approximately 35,709 square meters of land was acquired in Xiangcheng County. In 2019, The Group took the initiative to launch different solutions in respect of sales of properties, of which the sales of Mingmen Xijun, Jinhui Plaza and King of the North The Groupre satisfactory with increased total contracted sales as compared with 2018. At the same time, the Group continued to develop projects, including Hengda Lanjun (恒達瀾郡), Hengda Heyuan (恒達和園), Jinhui Plaza Commercial (金匯廣場商業) and Yuzhou Binhefu (禹州市濱河府), providing steady growth momentum for The Group’s sales and performance in the coming years. The Group adhered to the business model of developing mixed residential and commercial properties, which significantly increased the overall value of residential projects and enhanced the Group’s brand image and reputation. At the same time, by renting out commercial properties and properties for sale, the Group can generate stable income streams from rents and generate cash flows at the same time, which can also spur the final sale of properties for sale. Prospects: Benefiting from the expansion of property size over the year that has just past, China has seen significant increase in sales and growth rate of commercial properties. Impacted by the outbreak of novel coronavirus, COVID-19, China’s real estate industry faces tremendous pressure right after stepping into 2020, nevertheless, there is an overall demand in the industry. In the long run, the impact brought by the epidemic on real estate industry will be relatively less profound than some other industries. 2020 marks the last year of China’s 13th Five-Year Plan. The construction of high-specification systems such as the National Housing Information Network (全國住房信息聯網) and the National Land Planning System (國土空間規劃體系) is expected to be more or less completed by 2020, which will push forward land planning and real estate development into a new era of more sustainable systematic development while at the same time the growing population will continue to provide strong support for the development of the real estate industry. Given the fact that Henan Province has a population of over 100 million, there is a great domestic demand in the real estate industry brought by the huge local market, evidenced particularly by the growing population in Henan Province, where urbanization rate is not high. With the further implementation of national and local strategies such as the Rise of Central China (中部崛起), and the Integration of Zhengzhou and Xuchang and as a local brand, The Group will take the advantages to grasp market opportunities with the combination of hard power and soft power to make outstanding contributions to the development of the city. As an enterprise with integrity and responsibility, the Group will, in the future, continue to adhere to the principle of “Integrity Management, Fulfilling Every Promise”, enhance the quality of the city with premium buildings and craft quality living with ingenuity. By dedicating more valuable real estate projects to a large number of property owners, the Group will continue pushing forward urban development, opening a new chapter in urban construction and corporate development.

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