Futu News on October 16th, this Friday.$Jinhui Holdings (09993.HK) $According to the announcement, the company plans to issue 600m shares from October 16 to 21, including 60 million shares for public offering and 540 million shares for international offering at a price of HK $3.50 to HK $4.50 per share, with 1000 shares per share expected to be listed on October 29th.

It is reported that Jinhui Holdings is a large real estate developer. As of July 31, 2020, the company has a total of 160 property development projects at different stages of development, including 117 projects developed by the company's subsidiaries and 43 projects developed by the company's joint ventures and joint ventures.

In 2020, the company ranked 36th in the "Top 50 Chinese Real Estate developers in 2020" awarded by the China Real Estate Association and the China Real Estate Evaluation Center of Shanghai Yiju Real Estate Research Institute, and ranked among the "Top Ten Comprehensive strength of Chinese Real Estate developers".

In terms of financial data, the company's total income from fiscal year 2017 to fiscal year 2019 was 11.777 billion yuan, 15.971 billion yuan and 25.963 billion yuan respectively, with an annual compound growth rate of 48.48%, and net profit of 2.221 billion yuan, 2.3 billion yuan and 2.69 billion yuan respectively, with an annual compound growth rate of 10.04%. In the four months ended April 30, 2020, the company's income was 2.929 billion yuan and its net profit was 182 million yuan, which was lower than the same period last year.

In the industry, due to the rapid growth of the domestic economy and fixed asset investment, the overall investment in the real estate industry has maintained a momentum of growth, growing at a compound annual growth rate of 6.8 per cent from 9.504 trillion yuan in 2014 to 13.219 trillion yuan in 2019.

The total floor area sold increased from 1052 million square meters in 2014 to 1501 million square meters in 2019, with a compound annual growth rate of 7.4 percent, indicating increasing demand in the real estate market.

The average selling price of residential properties increased from 5933 yuan per square meter in 2014 to 9287 yuan per square meter in 2019, with a compound annual growth rate of 9.4 percent.

In terms of fund-raising purposes, the company intends to use the net proceeds from the share sale for the following purposes: about 60% will be used for Shaoxing Youbu Guanlan Garden, Shaoxing Jinghu Lake, Fuzhou Jinghuilan Linxuan, Xi'an Jinghe Town, Suzhou Youbu four Seasons Garden and Chongqing Changjiang Ming; about 30% will be used to repay part of the existing trust loans for the company's project development; and about 10% will be used for general business operations and working capital.