the formal withdrawal of the listing application to the Hong Kong Stock Exchange (00388) recently indicates that the general atmosphere is general, and the group’s investment is more flexible after giving up listing
It is estimated that this year, it will invest 1 billion to 1.5 billion yuan in industrial and commercial properties. .
More flexible investment after listing
The Zhengba Group, founded by investor Liao Weilin, mainly invests in industrial and commercial properties. The company submitted an application for listing in 2018, and in October last year, the group submitted another application. As of the end of March 2019, the Group’s annual net profit increased by 4.34% year-on-year to 28.17 million yuan, and its revenue increased by 71% year-on-year to 644 million yuan.
Liao Weilin said that he has formally submitted an application to the Hong Kong Stock Exchange for abandoning listing
He pointed out that the overall atmosphere is average, and because listing must comply with many codes, such as restrictions on the amount of investment properties, resale, and injection of assets. In addition, he pointed out that under the impact of social movements in the past six months, it has hit Hong Kong’s economy, especially in the catering, retail and hotel industries. Rents and prices in core areas have dropped significantly. Many low-priced but high-quality bamboo shoots have appeared one after another. It is considered that giving up listing can make the group more flexible in investment.
Regarding the market outlook, he analyzed that China and the United States have signed the first-phase trade agreement, and the external market conditions have been somewhat calm and the overall situation has eased. This year, they can seize the opportunity to enter the market. He pointed out that this year’s investment is about 1.5 billion yuan, the main force is Mansion A, Mansion B, and a basket of properties.