Press ReleaseChuang's China Investments Limited
Post on November 25, 2020
Chuang’s China Revenues Soars 20 times to HK$1.68 billion Net Profit Increases by 19 times YoY to HK$420 million

(Hong Kong, 25 November 2020) Chuang’s China Investments Limited (“Chuang’s China” or “the Group”) (HKEX: 298) announced its interim results for the six months ended 30 September 2020 (the “Period under Review”).

During the Period under Review, the Group’s revenues significantly increased by about

20 times to HK$1,683.3 million (2019: HK$81.3 million) and sales of development properties tremendously increased by about 108 times to about HK$1,617.4 million (2019: HK$14.8 million). Profit attributable to equity holders of the Company was HK$423.4 million (2019: HK$21.3 million), indicating an increase of about 19 times over the same period last year. Earnings per share were 18.03 HK cents (2019: 0.91 HK cent). The board proposed an interim dividend of 1.5 HK cents per share.

The increase in revenue was mainly due to the recognition of completed sales of The Esplanade, Tuen Mun in Hong Kong, resulting in a robust growth in the sales of the development property. The sales of the pre-sold 366 units, of which 358 residential units have been handed-over to end-buyers during the period ended 30 September 2020.

In September 2020, the Group successfully completed the disposal of the investment property in the United Kingdom for approximately GBP93.8 million (equivalent to approximately HK$971.5 million). The disposal greatly strengthened the Group’s financial position.Mr. Albert Chuang Ka Pun, Chairman of Chuang’s China, stated “Although the Covid-19 pandemic causing the overall economic downturn and the slump of market value of the property investment market, the completion of the disposal of investment property in the UK kept the group financially stable. Looking forward, the Group will not only seek new opportunities to expand land bank for property development, but also continue to identify suitable investment projects to expand on investment properties portfolio. At the same time, the Group will focus on business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area and cities along the Belt and Road Initiative.”

Press ReleaseChuang's China Investments Limited