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Public company info - Ganglong China Property Group Limited , 06968.HK
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Ganglong China Property Group Limited, 06968.HK - Company Profile
Chairman Lui Wing Wa
Share Issued (share) 1,631,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: The group is an established property developer in the Yangtze River Delta Region focusing on the development and sales of properties predominantly for residential use mixed with accompanying ancillary facilities, such as retail units, carparks and ancillary areas. Performance for the year: For the three years ended December 31, 2019, the group’s revenue from the development and sales of properties amounted to RMB433.9 million, RMB1,659.6 million and RMB1,978.0 million respectively, representing a CAGR of 113.5%; and the group’s net profit amounted to RMB32.8 million, RMB332.0 million and RMB470.1 million, respectively, representing a CAGR of 278.6%. Business Review The group are an established property developer in the Yangtze River Delta Region focusing on the development and sales of properties predominantly for residential use mixed with accompanying ancillary facilities, such as retail units, car parks and ancillary areas. Headquartered in Shanghai, the group have established an active presence and a strategic regional coverage in the Yangtze River Delta Region, one of the most economically prosperous and vibrant regions in the PRC, which is expected to enjoy healthy economic growth according to the Industry Report. The group were founded in Changzhou in 2007 and since then have expanded the group’s footprint in surrounding cities near the Yangtze River Delta Region including Changshu, Yancheng and Nantong in Jiangsu Province and Hangzhou, Jiaxing, Huzhou and Shaoxing in Zhejiang Province. Leveraging the group’s brand, experience and execution capability in property development, the group further expanded into Shanghai, a first-tier city, and major cities in Henan and Guizhou provinces in 2018. According to the Industry Report, the group ranked 83rd among the property developers in the residential property market in the PRC in terms of contracted GFA sold in 2019. Adhering to the group’s core values of “striving for innovation, building with integrity” (用心創新，以誠築城), the group believe that the group have built an excellent reputation in the group’s markets for constant innovation, quality of the group’s various product series and credibility. the group’s targeted customer groups mainly include (i) first-time homebuyers, (ii) mid-range home-upgraders and (iii) high-end home-upgraders. Depending on the local market demand and government development plans, the group intend to meet the demand of each of the group’s targeted customer groups by enriching the group’s product series and improving the group’s product quality and design. the group were awarded with “Enterprise of Observing Contract and Valuing Credit (守合同重信用企業)” during 2015 to 2018, “2018 Advanced and Comprehensive Inspection Award in the 1st Construction Market of Changzhou City (常州市2018年第一次建築市場綜合大檢查綜合先進獎)” in 2018, “2018 Changzhou Star Enterprise (2018年度常州明星企業)” in 2019 and “2019 Changzhou Five Star Enterprise (2019年度常州五星級明星企業)” in 2020. During the Track Record Period, the group derived the group’s revenue from nine development projects in four cities for the group’s development and sales of properties. For the three years ended December 31, 2019, the group’s revenue from the development and sales of properties amounted to RMB433.9 million, RMB1,659.6 million and RMB1,978.0 million respectively, and the group’s net profit amounted to RMB32.8 million, RMB332.0 million and RMB470.1 million, respectively. The group intend to continue to adopt the group’s diversified land acquisition strategy to enrich and optimize the group’s land reserves and support the group’s business growth. During the Track Record Period and up to the Valuation Date, the group had a diverse project portfolio of 64 development projects in 22 cities, developed by the group’s subsidiaries, joint ventures and associated companies. As of the Valuation Date, the group had 53 development projects in 21 cities, developed by the group’s subsidiaries, joint ventures and associated companies with an aggregate land reserves of 5,444,423 sq.m., including (i) completed properties with a saleable and leasable GFA of 260,806 sq.m., (ii) properties under development with an aggregate GFA of 4,751,721 sq.m., and (iii) properties held for future development with an aggregate GFA of 431,896 sq.m. the group believe that such diversified land acquisition strategy will allow us to reinforce the group’s business strategy of focusing on the Yangtze River Delta Region and strategically expanding into new markets and to accumulate strategically located land reserves. Prospects: The group’s goal is to become a major residential property developer in China. To achieve this target, the group plan to implement the following strategies: 1、Focus on the Yangtze River Delta Region and strategically expand into other new markets outside of the region, such as the Central Region in the PRC 2、Continue to adopt the group’s diversified land acquisition strategy to enrich the group’s land reserves 3、Continue to improve the group’s product quality and design to position the group’s products to meet the evolving market demand and create value for the group’s customers 4、Continue to improve the group’s operational and cost efficiency 5、Attract, retain and motivate talented personnel through systemic training programs, proactive recruitment and competitive remuneration packages

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