Comprehensive Overview

The group is an integrated real estate developer in mainland China, mainly in Zhejiang Province. It began penetrating the Pan-Yangtze River Delta region in 2016. According to China Real Estate Information Group figures, in terms of contract sales, the group ranked 28th among all developers in China last year, accounting for about 0.7% of total property contract sales in China. As of the end of July this year, the Group had 205 property projects at various stages of development, accounting for a total construction area of about 23.824 million square meters.

Risk Factors

Most of the group's income and land reserves are located in Zhejiang Province. It is estimated that the local area will still be the main contributor to future revenue. If the economic situation in Zhejiang Province changes, the group's business will be affected. Recent reports suggest that the Bank of China is imposing new standards to control the size of interest accrued debt of mainland property developers, such as the collection of relevant laws and regulations, which may affect group financing capacity.