Grand Ming Group Holdings Limited Announces Interim Results for the Six Months Ended 30 September 2020
- 2020年11月16日 12:06:00
- テクノロジー
- JCN Newswire
Highlights
- Revenue amounted to approximately HK$786.1 million, up by 114% from the last corresponding period.
- Net profit reached approximately $70.2 million, representing an increase of 60%.
- Underlying profit increased by 223% to approximately HK$83.4 million, excluding the change in fair value of investment properties.
- Declared payment of an interim dividend of 4.0 HK cents per share.
- Stays positive towards the booming business of data centre leasing, aiming at developing into two new high-tier data centres in near future.
- Seizes opportunities to increase land reserve for property development in Hong Kong and cautiously eyes on the Mainland China market.
The Group's consolidated revenue increased 114% from HK$367.5 million for the six months ended 30 September 2019 ("FH 2019/20") to HK$786.1 million for FH 2020/21. The increase was primarily due to a rise in revenue recognition from the construction segment, in which the construction project in Kai Tak, Kowloon was progressing in full swing and recorded a substantial work in progress during the FH 2020/21.
The Group's net profit for FH 2020/21 was approximately HK$70.2 million, representing an increase of approximately 60% when compared to that of approximately $44.0 million for FH 2019/20. Earnings per share was 4.9 HK cents (2019 (restated): 3.1 HK cents). The Group's underlying profit for FH 2020/21, excluding the change in fair value of investment properties, amounted to approximately HK$83.4 million, representing an increase of approximately 223% as compared to an underlying profit of approximately $25.8 million for FH 2019/20. Underlying earnings per share was 5.9 HK cents (2019 (restated): 1.8 HK cents). The increase in net profit was mainly benefited from (i) the increase in revenue recognised from the construction segment;and (ii) a higher margin attained from the sales of one duplex and one typical unit in Cristallo, as compared to three typical units sold in the corresponding period of last financial year.
It is the Company's policy to reward its shareholders by sharing part of its profits while ensuring that sufficient working capital are reserved for future development. The Board now declares to pay an interim dividend of 4.0 HK cents (2019: 4.0 HK cents) per share, payable on 16 December 2020 to shareholders whose names appear on the Company's register of members on 4 December 2020.
During FH 2020/21, revenue derived from the construction business increased by approximately 227% or HK$373.6 million, from approximately HK$164.4 million for FH 2019/20 to approximately HK$538.0 million for FH 2020/21. The increase was primarily attributed to the construction project at Kai Tak that was in full swing and had substantial work in progress during the period under review.
The Group's data centre leasing business remained buoyant during the time of the COVID-19 pandemic. Revenue derived from this segment increased approximately 8.6% or HK$6.2 million, from approximately HK$71.9 million for FH 2019/20 to approximately HK$78.1 million for FH 2020/21, primarily driven by the higher utilisation rate of iTech Tower 2 from newly committed customers. In September 2020, the Group completed the acquisition of two parcels of land in Fanling, New Territories for the purpose of developing into two new high-tier data centres.
The Grand Marine, the Group's first residential property development project located at Tsing Yi, New Territories, provides a saleable area of approximately 345,000 square feet for 776 residential units comprising one-bedroom to four-bedroom and special units. Superstructure works have commenced and are going on in good progress. The whole project is expected to be completed by late 2021. The project has received tremendous responses from the market since its pre-sale in November 2019. Approximately 86% of the residential units had been sold, with cumulative presale proceeds of approximately HK$4.23 billion being recorded.
The Group's luxury residential project, CRISTALLO, at No. 279 Prince Edward Road West, Kowloon was also well-received by the market. During FH 2020/21, sales and delivery of two apartments had been completed, and revenue of approximately HK$170 million was recognized accordingly. Furthermore, the Group entered into six provisional sales and purchase agreements for six apartments with an aggregate contract sum of HK$235.7 million. Completion of these 6 apartments are scheduled to take place between December 2020 and October 2021.
In order to increase its land bank, the Group also entered into a provisional sale and purchase agreement in early November 2020, in respect of the acquisition of a piece of land at No.1 Luen Fat Street, Fanling, New Territories, with a site area of approximately 6,800 square feet. The acquisition is scheduled to be completed in January 2021 and its consideration will be settled by the Group's internal resources and/or bank borrowings.
Mr. Chan Hung Ming, Chairman and Executive Director of Grand Ming Group Holdings concluded, "Year 2020 is a COVID-19 pandemic year that poses huge challenges to different businesses. It also brought much of global economic activity to a halt during the first half of the year and the path to full recovery remains long and uncertain. While cautiously exploring for suitable property development projects in Mainland China, the Group will also utilize its existing resources to increase our land reserve in Hong Kong. In the meantime, we strive to promote the sales of the remaining units in the Grand Marine and Cristallo. On the other hand, we envision that the surging growth in the use of digital technology as a result of the pandemic will lead to high demands for new high-tier data centres. We acquired two parcels of greenfield land for the proposed high-tier data centre development in a move to expand our data centre capacities and seize the upcoming rising demand opportunities. For the construction segment, we currently maintain our focus in completing the projects in hand and adopt a 'wait and see'attitude in tendering new construction projects in face of the fierce market competition."
About Grand Ming Group Holdings Limited (Stock code: 1271.HK)
The Group is principally engaged in the business of building construction, property leasing and property development. As a local wholesale co-location provider of high-tier data centres, the Group is one of the dedicated service providers in Hong Kong which owns and uses the entire building for leasing to customers for data centre use. Its clientele includes multinational data centre operator, telecommunications company and financial institutions. The Group currently owns two high-tier data centre buildings, namely iTech Tower 1 and iTech Tower 2. It also acquired two parcels of land in Fanling, New Territories for developing into two new high-tier data centres. With more than 20 years of experience in the construction industry, the Group also provides building construction services as a main contractor, and is involved in residential property development projects with prominent local developers, as well as offering alteration, renovation and fitting-out services for existing buildings in Hong Kong. Furthermore, the Group is developing a residential development project namely "The Grand Marine"at Sai Shan Road, Tsing Yi, as well as selling a luxury residential project, Cristallo, at Prince Edward Road West, Kowloon.
Media Contacts:
Angel Yeung
Jovian Communications Ltd
Tel: +852 2581 0168
Email: 1271@joviancomm.com
Copyright 2020 JCN Newswire. All rights reserved. www.jcnnewswire.com
丸山桂里奈、一日警察署長の制服スカート姿に反響 「新鮮」「スーパーO脚署長って笑」
フジ新人アナ4人の集合写真公開 宮本真綾アナ「約15キロある樽を背負い」とバイト経歴明かす
国民年金納付5年延長、国会で質疑集中 政府の狙いは?
挙式報告の足立梨花、「コナン」ウエディングケーキ入刀ショット&作者青山剛昌氏からの色紙披露
テレ朝佐藤ちひろアナ、先輩女性アナ撮影に「自然とポーズを」 「雑誌の表紙かと」と絶賛の声
藤本美貴、8歳長女と夫庄司智春のギターレッスンショット公開「こんな親子なりたかった!」
【阪神】青柳晃洋好投の裏に「無心」の時間 試合前に30分で漫画1冊読破
【オリックス】頓宮裕真2戦ぶり1発含む初3安打「しっかりと自分のスイングを」
【オリックス】山下舜平大がプロ最多8失点大乱調「心が折れてなかったら投げさせたい」中嶋監督
松本まりか「ホントにかわいいですから」共演上杉柊平の今までにない姿アピール
何があった!?「エアコン」が想定外の壊れ具合!投稿者に話を聞いた
深夜のファミリーマート徘徊、必ず入っている「フエラムネのミニチュアおもちゃ付」を探し求めた結果……
ガーシー、またも綾野剛の暴露写真でネット歓喜「この写真見て笑っちゃう」
岡本夏生(56)、1600日ぶりにブログを更新した現在が衝撃
人気セクシー女優”別人級”がらり激変ショット公開 ネット騒然「え!」「全然印象が違う!」
ユーチューバーもこう氏、元彼女・成海瑠奈について赤裸々告白
群馬県草津町冤罪事件、フリーライターの男に懲役1年の求刑がここまで話題にならない理由
玉置浩二の妻、青田典子(53)の現在がとんでもない事になっていると話題に
着替えをのぞかれて抗議する美少女フィギュアへの批判の声にアイドルが異論
曙と熱愛した相原勇(52)の現在が衝撃的すぎると話題に
何があった!?「エアコン」が想定外の壊れ具合!投稿者に話を聞いた
岡本夏生(56)、1600日ぶりにブログを更新した現在が衝撃
曙と熱愛した相原勇(52)の現在が衝撃的すぎると話題に
深夜のファミリーマート徘徊、必ず入っている「フエラムネのミニチュアおもちゃ付」を探し求めた結果……
ガーシー、佐野ひなこの暴露を示唆でネット騒然「ファンだったのに」
いなば食品のホームページが表示されない!そして「プレスリリース」もヤバすぎると話題に
ユーチューバーもこう氏、元彼女・成海瑠奈について赤裸々告白
ガーシー、またも綾野剛の暴露写真でネット歓喜「この写真見て笑っちゃう」
神田正輝「旅サラダ」冒頭いきなり”衝撃あいさつ” スタジオは騒然
玉置浩二の妻、青田典子(53)の現在がとんでもない事になっていると話題に
丸山桂里奈、一日警察署長の制服スカート姿に反響 「新鮮」「スーパーO脚署長って笑」
フジ新人アナ4人の集合写真公開 宮本真綾アナ「約15キロある樽を背負い」とバイト経歴明かす
国民年金納付5年延長、国会で質疑集中 政府の狙いは?
挙式報告の足立梨花、「コナン」ウエディングケーキ入刀ショット&作者青山剛昌氏からの色紙披露
テレ朝佐藤ちひろアナ、先輩女性アナ撮影に「自然とポーズを」 「雑誌の表紙かと」と絶賛の声
藤本美貴、8歳長女と夫庄司智春のギターレッスンショット公開「こんな親子なりたかった!」
【阪神】青柳晃洋好投の裏に「無心」の時間 試合前に30分で漫画1冊読破
【オリックス】頓宮裕真2戦ぶり1発含む初3安打「しっかりと自分のスイングを」
【オリックス】山下舜平大がプロ最多8失点大乱調「心が折れてなかったら投げさせたい」中嶋監督
松本まりか「ホントにかわいいですから」共演上杉柊平の今までにない姿アピール