According to the disclosure of the Hong Kong Stock Exchange on May 11, China billion Industry Holdings Limited (hereinafter referred to as: China billion Base Industry) submitted a listing application to the main board of the Hong Kong Stock Exchange, Guotai Junan.International serves as its exclusive sponsor.
According to the prospectus, Zhongyi Jiye is a growing property developer with more than 27 years of comprehensive experience, focusing on the development and sale of high-quality mid-and high-end residential properties. Since its establishment in 1994, Zhongyi Group has become the market leader in Yinchuan and Xining, and has expanded its business to other strategically selected regions in northwest China.
In terms of contract sales, Zhongyi ranked first among all property developers in Yinchuan and Xining in 2020, according to the Central Index Institute. As of March 31, 2021, Zhongyi Foundation has 30 property development projects at different stages of development, with a total construction area of 6516722 square meters. Among them, 29 projects were developed by subsidiaries of China billion Base Industry and one project was developed by an associate company of China billion Base Industry.
In addition to residential properties, Zhongyi also develops and manages commercial properties, such as shopping malls and retail outlets attached to residential properties.
The close cooperation between Zhongyi Group and Vanke Group has made a great contribution to its success. With the brand awareness and industry expertise of Vanke Group, Zhongyi Foundation can consolidate its existing market position and gradually expand to different regions. In 2017, Zhongyi Foundation established Zhongfang Vanke (a subsidiary of Zhongyi Foundation) as a platform for strategic cooperation with Vanke Group. As of March 31, 2021, Zhongfang Vanke has 11 development projects with a total floor area of 3389615 square meters, including 2 cities. Zhongyi believes that the business partnership with Vanke Group will continue to play a valuable role in future development.
As of March 31, 2021, the total gross floor area of the property development projects attributable to China billion Corporation is 6516722 square meters, including the floor area available for sale in the completed projects of (i), the planned floor area of the properties under development in; (ii), which can be rented out, and the estimated floor area of 1629369 square meters of the properties held by (iii) for future development.
From 2018 to 2020, the income of China billion base industry was 2.504 billion yuan, 2.125 billion yuan and 5.636 billion yuan respectively, with a compound annual growth rate of 50.0%. Net profit increased from 365 million yuan in 2018 at a compound annual growth rate of 52.0% to 843 million yuan in 2020.
