Hongyang real estate trend is stable, may wish to cold knock

August is the peak period for the Hong Kong stocks to announce interim results

Although the central government has always emphasized that housing is used for housing and not for speculation, the performance and sales of the domestic housing sector remained impressive in the first half of the year. However, the recent trend of large-scale Chinese property stocks is generally weak. Hong Kong Real Estate (01996), a medium-sized Chinese property stock with a market value of about 8 billion yuan, is relatively stable in the near future.

Hongyang Real Estate develops real estate business under the “Hongyang” brand in the Yangtze River Delta region, and also operates commercial property investment and operation and hotel business

The Group adopts a light and heavy operating model in the commercial sector, and “light assets” are mainly to enhance operational management and brand awareness. The Group conducts business expansion through diversified models such as entrusted management, leasing and self-sustaining. It uses rich experience and advanced management tools to continuously empower merchants and consumers to optimize their experience and enhance asset quality. At the same time, it strengthens the linkage with real estate development business. “Real Estate + Commercial" Two-wheel drive and synergy.

The Group’s turnover in the first half of the year was 3.908 billion yuan (RMB, the same below), up 1.1% year-on-year; net profit was 743 million yuan, up 14.1%

overall gross profit margin was about 29%; net profit margin was 18.5%, up 2.2 times over the same period last year. percentage point. The commercial sector has become a bright spot, with rental income increasing by 22.6%. Three of Hongyang Plaza have been opened. Currently, 12 Hongyang Plazas are being prepared for opening in key economic circles such as the Bohai Sea and the Yangtze River Delta.

In the first half of the year, contract sales increased by approximately 43% to 30.25 billion yuan, with a compound growth rate of 89% from 2016 to 2018. In the first seven months of this year, the Group achieved a cumulative contracted sales amount of 34.265 billion yuan, up 40.23%; it has completed more than 52% of the annual sales target of 60 billion yuan, and performed well.

The Group’s contracted sales cover 20 cities, and the market has successfully expanded from the Yangtze River Delta to the core cities of the country. “As of the end of June, the land bank increased by 20% from the end of last year to 15.69 million square meters, of which 83% were located in first- and second-tier cities, of which 108,000 square meters of completed properties, 10.328 million square meters of property under development, and 467.6 future development properties. Ten thousand square meters provide a guarantee for future development.

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