Media
\nOutReach<\/a>\u00a0– 25 March 2021 – JY Grandmark Holdings Limited<\/b>, <\/b>a property developer, operator and
\nproperty management service provider based in the People’s Republic of China,
\nis pleased to announce its annual results for the year ended 31 December 2020
\n(the “Year”).<\/p>\n
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The Group positions itself as an
\n“Eco-friendly and People-oriented Property Developer” and acquired land
\nreserves in strategic locations with abundant natural resources, rich culture
\nand potential for growth. The Group takes into account the natural and cultural
\nresources of its project site in the design of properties to develop homes and
\ncommunities that the Group considers to be truly liveable for buyers. This
\naccurate positioning differentiates the Group from other property developers in
\nthe PRC.<\/p>\n
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During the Year, the Group’s revenue amounted to RMB2,347.1 million
\n(2019: RMB2,402.8 million), representing a year-on-year(“yoy”) decrease of
\n2.3%. The Group’s annual profit amounted to RMB478.4 million (2019: RMB494.4
\nmillion), representing a decrease of 3.3% yoy. The Group’s gross profit amounted
\nto RMB912.7 million (2019: RMB1,144.2 million), representing a decrease of 20.2%
\nyoy. Core net profit amounted to RMB427.3 million (2019: RMB446.9 million),
\nrepresenting a decrease of 4.4% yoy. Profit attributable to shareholders amounted
\nto RMB485.2 million (2019: RMB501.5 million), representing a decrease of 3.3%
\nyoy.<\/p>\n
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Position
\nas an “Eco-friendly and People-oriented Property Developer” favored by the
\nmarket Contracted sales grew against the market trend<\/b><\/p>\n
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In 2020,
\nthe Group achieved positive growths in terms of development area, sales area
\nand sales. The aggregated contracted sales of the Group amounted to
\napproximately RMB3,523.6 million, representing a growth of 13.1% yoy as
\ncompared to RMB3,116.3 million in 2019. The aggregated sales area was
\napproximately 351,000 sq.m. ,representing an increase of 38.7% yoy as compared
\nto approximately 253,000 sq.m. in the previous year.<\/p>\n
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Due to
\nthe epidemic, projects of environment improvement and living space improvement
\nwere sought after, with five projects including JY Uniworld (\u666f\u696d\u58f9\u65b9\u5929\u5730) in Zhaoqing, JY Gaoligong Town (\u666f\u696d\u9ad8\u9ece\u8ca2\u5c0f\u93ae) in Tengchong, JY Grand Garden(\u666f\u696d\u96cd\u666f\u5712) in Qingyuan, JY
\nMountain Lake Gulf(\u666f\u696d\u5c71\u6e56\u7063) in
\nZhuzhou and JY Hot Spring Villas(\u666f\u696d\u74cf\u6cc9\u7063) in Conghua recorded satisfactory subscription results. JY Egret Bay (\u666f\u696d\u767d\u9dfa\u6d32) located in Lingao County, featuring vacation
\nproducts, won active subscriptions from those who wanted home upgrading and
\nrecorded ideal transactions. It verifies the correct prediction and the
\ncompetitive advantages of JY Grandmark regarding market layout and product
\nstrategy.<\/p>\n
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Increased
\nLand Bank to Accelerate Geographic Deployment <\/b><\/p>\n
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In 2020,
\nthe Group also actively expanded the land bank and acquired more high-quality
\nlands in the existing markets with established brand effect. In the meantime,
\nthe Group focused on Yangtze River Delta, provincial capitals in central and
\nwestern China and hotspot cities to seek opportunities. Throughout the year,
\nthe Group acquired a total of 12 lands via bidding in three hotspot provinces,
\nGuangdong, Yunnan and Jiangsu, adding 1,141,000 sq. m. to the reserve
\ndevelopment area. In the investment of lands acquired, the Group adopted the
\ncooperation model for some projects and developed the projects in collaboration
\nwith strong real estate enterprises to improve the overall benefit. As at 31
\nDecember 2020, the total gross floor area of the Group’s land reserves reached
\napproximately 4 million sq.m..<\/p>\n
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Good
\nperformance on operational indicators and credit rating gained recognition from
\nthe capital market<\/b><\/p>\n
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With the
\ngood performance of operational indicators and credit rating, the Group won the
\nrecognition of the capital market and further developed the financing and
\ncredit channels. In March 2020, the Group successfully issued US$150 million of
\nsenior notes with the coupon rate of 7.5%. In December 2020, the Group entered
\ninto a facilities agreement of HK$734 million with certain financial
\ninstitutions. As of 31 December 2020, net gearing ratio was at an industry-low
\nlevel of 16.9%, decreased by 30.2 percentage points from 47.1% as of 31
\nDecember 2019. The Group will continue to optimise the asset-debt structure and
\nmaintain adequate liquidity in the long-run.<\/p>\n
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Property
\nmanagement recorded strong operational indicators<\/b><\/p>\n
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During
\nthe Year, Zhuodu Property (\u5353\u90fd\u7269\u696d), the
\nproperty management arm of the Group, recorded strong operational indicators:
\nthe chargeable area under management reaching 662,400 sq.m., representing an
\nincrease of over 210% yoy; the revenue reaching approximately RMB18.3 million,
\nrepresenting a growth of approximately 27.1% yoy. What is worth noticing is
\nthat in addition to the basic property management fees, approximately 30% of
\nthe revenue of the property management arm were sourced from other operational
\nbusinesses, and innovative businesses will also become the revenue growth
\ndrivers that Zhuodu Property will focus to develop.<\/p>\n
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Hotel
\noperations actively developed the market <\/b><\/p>\n
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Two Just
\nStay hotels seized the opportunity of stable epidemic development and
\nconsumption release, launched promotion activities in line with the trend and
\nactively developed the market, thereby ushering in the “peak season” with high
\noccupancy and recovering the operational loss caused by the pandemic. In 2020,
\nJust Stay Hotel (\u5ee3\u5dde\u5353\u601d\u9053\u9152\u5e97) and Just Stay Resort (\u5f9e\u5316\u5353\u601d\u9053\u6eab\u6cc9\u5ea6\u5047\u9152\u5e97) recorded an aggregate revenue of about RMB61.4
\nmillion and the operating results remained stable.<\/p>\n
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Strengthening
\nurban renewal business with target land bank of 4 million sq.m. <\/b><\/p>\n
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Policies
\nwill open channels for such businesses as urban renewal. At present, the Group is actively studying the
\nfeasibility of several urban renewal projects, such as the core areas of
\nGuangzhou and Foshan. The overall planning area is approximately 4 million
\nsq.m., which is planned to be gradually converted in the future, thereby bringing
\nrapid growth to the land reserve and results of the Group.<\/p>\n
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Mr. Michael Chan, Chairman and Executive Director
\nof JY Grandmark said, <\/b>“In 2020, the world’s economy has slowed down
\ndue to the impact of COVID-19. Amid the pandemic, China’s economy witnessed a
\nturnaround and recorded a growth over the year, bringing a positive signal and
\nconfidence to the recovery of all sectors and the improvement of business
\nenvironment. The Company responded promptly to the epidemic, strictly followed
\nthe government’s instructions to implement epidemic prevention and control and
\nrealised safe resumption of work. It also leveraged its core advantages. The Group
\nsprinted to the business performance objectives with collective wisdom and
\nconcerted efforts, united to recover from the impact of COVID-19 and achieved a
\nrobust growth.”<\/p>\n
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“The Group
\nanticipates that the overall domestic property market will trend positive in
\n2021: on the one hand, demands of objective nature in the property market will
\nbe further released as the consumption recovers, which will stimulate the sales
\nvolume; on the other hand, policies will open channels for such businesses as
\nurban renewal, and property investment and development will embrace new
\nopportunities and growth points. Furthermore, new turning points emerge in the
\nconsumption market after the epidemic, with the focus on location and price
\nchanging to the focus on integrated experience that covers multiple aspects
\nincluding products, supporting facilities and property services. This change
\nwill bring opportunities to the Group’s position as an ‘Eco-friendly and People-oriented Property
\nDeveloper’.”<\/p>\n
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“Looking
\ninto the future, the Group will seize the policy opportunities and follow the
\nprocess of city planning and urbanisation to develop the urban renewal business
\nin regions of high conversion and growth potential. Based on the business
\nstrategy of diversified development, the Group will strengthen the resource
\ncoordination in businesses of property development, property management, hotel
\nand commercial operation, to maximise the productivity of business
\nsegments.\u00a0 The post-epidemic era
\nhighlights the advantage of ‘Eco-friendly and People-oriented Property’.\u00a0 By creating products with unique competitive
\nadvantages, the Group will improve the brand recognition and influence. In
\n2021, the Group will maintain the existing development advantages and improve the
\ncompetitiveness to promote high-quality growth and rapid scale expansion, so
\nthat it will create greater value for owners and shareholders.”<\/p>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Manifest Advantage of “Eco-friendly and People-oriented Property”
Contracted Sales Grow against the Market Trend \u00a0
Actively Expand Land Bank and Seize Opportunities on Urban Renewal
\u00a0
HONG KONG SAR –\u00a0Media
OutReach\u00a0– 25 March 2021 – JY Grandmark Holdings Limited, a property developer, operator and
property management service …<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[60],"tags":[],"_links":{"self":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/13673"}],"collection":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/comments?post=13673"}],"version-history":[{"count":0,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/posts\/13673\/revisions"}],"wp:attachment":[{"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/media?parent=13673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/categories?post=13673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eodishasamachar.com\/en\/wp-json\/wp\/v2\/tags?post=13673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}