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Public company info - China VAST Industrial Urban Development Co. Ltd. , 06166.HK
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China VAST Industrial Urban Development Co. Ltd., 06166.HK - Company Profile
Chairman Song Liuyi
Share Issued (share) 1,651,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The group is primarily engaged in industrial towns development, property development and property leasing. Performance for the year: Revenue of the Group for the year ended 31 December 2020 amounted to RMB2,398.6 million, representing a decrease of 10.2% as compared with RMB2,670.0 million for the same period in 2019. The decrease in revenue was mainly because revenue from land development projects decreased as compared with that generated in the same period last year. The net profit of the Group increased by RMB16.2 million (or 2.0%) from RMB828.4 million for the year ended 31 December 2019 to RMB844.6 million for the year. Business Review: Industrial Town Development The Group currently provide planning, development and/or operation services in eight industrial town projects, including (i) Longhe Park; (ii) Longhe Resort; (iii) Guangyang Technology Regeneration Park; (iv) Yongqing Vast Industrial Town Park, all of which are located in Langfang City, Hebei Province; (v) Shijiazhuang General Aviation Industrial Town Park; (vi) Shijiazhuang Gaocheng Vast Industrial Town Park, both of which are located in Shijiazhuang City, Hebei Province; (vii) VAST Ezhou Industrial Park in Ezhou City, Hubei Province; and (viii) Wuhan Development Zone General Aviation Industry Comprehensive Demonstration Zone in Wuhan City, Hubei Province. After over 10 years of development, Longhe Park is progressing towards its maturity in a fast development stage. The remaining seven projects are in the early stage of planning and development. However, with the improvement and betterment of the terms of cooperation agreements signed between the Company and local governments, some of the Group’s cooperation agreements enable us to record revenue in the early stage of development, thus providing support for development projects on a rolling basis. IMPACT OF COVID-19 AND RESPONSE Since January 2020, COVID-19 has spread all over the world. It has brought certain challenges to the Group’s business development, but has little impact on the Group’s core business. During the epidemic, the Group formulated special response measures, such as quickly adapting to the needs of epidemic prevention and control to realize early resumption of work and production, increasing investment promotion, multi-channel promotion of commercial, residential and industrial land, and working with the government to help enterprises in the parks overcome the impact of the epidemic to ensure sound development of business operations, etc. These measures played a positive role in the stable development of the Group’s business. As the government’s various anti-epidemic measures continue to take effect, except for a few small medium-risk and high-risk areas that have cases occasionally, production and life in all parts of China have basically returned to normal. In particular, the recent large-scale vaccination of COVID-19 vaccine across the country has further controlled the development of the epidemic, and psychologically eliminated people’s panic about COVID-19. The impact of the epidemic on the Group’s business development is diminishing. The Group will continue to monitor the development of COVID-19, assess the impact of COVID-19 on the Group’s financial position and operating results, adjust the plans and measures for epidemic prevention and control and project operations in a timely manner, and disclose any relevant important information in due course. Prospects: In respect of the Group’s industrial town development, the Group will focus on the development of Longhe Park and continue the foundation works of other outbound projects (including projects in Beijing-Tianjin-Hebei Region and projects in Yangtze River Delta Economic Zone) in 2021. The Group are confident that the Group can complete the annual development plan and revenue plan formulated by the management of the Group at the beginning of the year. In respect of the Group’s property development in 2021, the Group will focus on the construction of Foxconn City Phase III, Longhe Center and Electronic Information Industrial Park. Revenue from sales of properties during 2021 is expected to be derived mainly from the sales of Foxconn City Phase II and the remaining units of Hongtai Longdi, Hongtai Meishuguan and Electronic Information Industrial Park. Taking into account the Group’s cash and future operating cash flows, and bank and other borrowings available, the Group believe that the Group have sufficient funding to support these development plans.

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