Public company info - Shinsun Holdings (Group) Co. Ltd. , 02599.HK
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Shinsun Holdings (Group) Co. Ltd., 02599.HK - Company Profile
Chairman Chen Guoxiang
Share Issued (share) 3,043,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Property Development
Corporate Profile Business Summary: During the year, the Group was involved in property development, property leasing, hotel operation and the provision of property management services. Performance for the year: Total revenue amounted to approximately RMB46,638.4 million, increased by approximately 31.3% as compared with the corresponding period in the previous year. Profit for the year amounted to approximately RMB3,053.4 million, decreased by approximately 4.8% as compared with the corresponding period in the previous year. Profit attributable to owners of the Company amounted to RMB2,646.0 million, increased by approximately 14.4% as compared with the corresponding period in the previous year, and core net profit attributable to owners of the Company amounted to approximately RMB2,689.8 million, increased by approximately 16.7% as compared with the corresponding period in the previous year. Business Review In the face of the challenges of the times and external uncertainties, the Group adhered to its corporate positioning as a “Happy Life Operator (幸福生活運營商)”. With the vision of becoming a healthy and sustainable quality benchmark enterprise and the management policy of “marketoriented, quality-made, talent-first and win-win cooperation (市場導向、匠心質造、人才為先、合作共贏)”, the Group actively face the new pattern of market and industry. With a good grasp of industry trends and policy evolution logic, the Group achieved capital structure optimization, steady growth of results, thorough implementation of the “1+1+X” strategy, optimization of land reserve structure, iteration and upgrade of products and services, organizational structure renewal and change, and a new level of social welfare undertakings during the year. It is worth mentioning that the tapping into of the capital market is a milestone for Shinsun Holdings to achieve its capital breakthrough in 2020. The Company’s shares were successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited on 18 November 2020, with net proceeds of approximately HK$3.51 billion. The further broadening of financing channels has significantly enhanced the Group’s competitiveness in the industry. In terms of performance, the Group achieved revenue of RMB46.64 billion in 2020, representing an increase of RMB11.12 billion from RMB35.52 billion in the same period of 2019, net profit of RMB3.05 billion with year-on-year decrease of 4.8% and core net profit of RMB3.10 billion, with year-on-year decrease of 3.2%. With the continuous promotion of new urbanisation, the development of urban clusters will continue to be a major trend, and the strategy of focusing on and deeply rooted into metropolitan circle of core urban clusters will help enhance the competitiveness as well as the ability of resisting risk of the Company. The Group has always adhered to the development strategy of focusing on regionalization and deep cultivation. Since 2016, the Group has implemented the “1+1+X” expansion strategy, under which it insists on operating its business based on Zhejiang Province by deeply rooted into the Yangtze River Delta to selectively build a layout in cities with high growth potential. In terms of replenishment of land value, the Group insisted on efficiency first and the strategy of deep cultivation and selective expansion. The Group obtained 46 new land bank in 2020, with a total land area of 2,740,232 sq.m. and total attributable GFA of 6,962,402 sq.m.. The Group entered cities such as Hefei, Nanchang and Nantong in 2020, further deepening the nationalised layout of the Group. As at 31 December 2020, the Group’s attributable total land bank was 23.3 million sq.m., including 9.0 million square meters in the Pan-Yangtze River Delta region and 11.2 million square meters in Zhejiang Province. Products and services are fundamental to the development of enterprises. Only by providing consumers with high quality products and services will enterprises be able to take advantage of the fierce competition in the industry. In 2019, the Group took the initiative to launch a new iteration of its product lines. Based on the original seven residential product lines and through experience integration, research and development innovation, demand matching and deep exploration of corporate genes and connotations, the Group iterated and upgraded four product lines, including Top series (Top系), Cloud series (雲境系), Mansion series (府系) and Arbor series (樾系), and achieved the coverage of “all-cycle, all-territory, all-age”, which ensured that the Group’s products were adaptable to different regions and different needs of the Group’s customers. In December 2020, the Group won a number of awards for its commitment to product quality, including the “Top 23 Super Product Power of Real Estate Enterprises in China in 2020” by EH Consulting, a professional real estate research institute, and the “Cloud series” of Shinsun Holdings won the “Top 10 Residential Product Line Brand Value Power of Real Estate Enterprises in China in 2020”, the “Mansion” series of Shinsun Holdings won the “Top 10 Residential Product Line Architectural Craftsmanship Power of Real Estate Enterprises in China in 2020 “, and eastern region of Zhejiang of Shinsun Holdings won the “Top 10 Regional Product Penetration Strength in China in 2020”. At the same time, the Group further focuses on contemporary customer needs and market changes, and iteratively upgrades its service system. Through inheritance and innovation and by advocating return to the original vision of happiness to upgrade the “Happiness+” service system and by building “Happiness π” (services) and “Happiness i” (products) as the two major dimensions for implementation, the Group is committed to bringing more happy life experience to the Group’s property owners and providing more families with more comprehensive and thoughtful happiness services. Prospects: As the opening year of the 14th Five-Year Plan, 2021 is a new phase and a new beginning. At present, the external environment is still the greatest uncertainty for China’s economic development, with the risk of recurrence of pandemic, the long-term trend of the competition between China and the United States remains unchanged, and the global political and economic landscape remains complex and volatile. However, the Group always has firm confidence in the stable and positive development prospect of China’s economy and its real estate sector. Looking ahead to 2021, the capital will remain reasonably abundant at macro level, the economy will maintain a promising trend, and the overall real estate control will remain continuous and stable, insisting on “houses are built to be inhabited, not for speculation” with the implementation of localised policy to ensure the stable development of the market. In this context, the Group will continue to grasp the macro trend. Staying true to its original vision and adhering to the craftsmanship spirit, it will deeply implement the “1+1+X” investment strategy to consolidate the advantages in the deeply-rooted regions and further explore the opportunities in regions with growth potential. With the brand philosophy of “Pursuing Happy Life”, the Group will continue to contribute high-quality real estate projects in the industry and create happy life scenes for thousands of families. In the wave of China’s urbanization, residents’ consumption is constantly upgrading and people’s pursuit of a better life is increasing. It will always be the Group’s mission to demonstrate the urban value, promote the upgrading of residence construction and create a happy and beautiful life scene through its own development in this era.

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