CENTRAL CHINA MANAGEMENT COMPANY LIMITED (“CCMGT” or the “Company”, stock code: 9982.HK) is pleased to announce that the Company has been recently awarded the “ListCo Excellence Awards 2021”, proving that the Company has been recognized by the commercial circles and investment industry for its outstanding results performance. The winners of the same period include Sun Hung Kai Properties, Cheung Kong Holdings, MTR Corporation, China Resources Beer, Ping An Good Doctor, etc.
The “ListCo Excellence Awards 2021” was co-organised by Hong Kong media am730 and fully supported by iFeng.com Hong Kong Stock, a renowned media on mainland China. In addition, Deloitte China became the intellectual partner for this year’s awards. All candidates were determined by a professional team and the judges included fund managers, senior stock evaluators and stock analysts. As the only Mainland China-Hong Kong cross-platform financial media award, the “ListCo Excellence Awards 2021” provides a valuable reference for investors. The selection criteria for this year’s awards cover the Environmental, Social and Governance (ESG) report, and emphasize one of the social responsibilities.
CCMGT is the leading and a fast-growing project management company for property development projects in China. It focuses in Greater Central China regions as its strategic development. The Company primarily undertakes the operation and management of asset-light business. CCMGT’s principal activity is commercial project management, and it continues to expand the fields of government project management, capital project management, and special management consulting services. Guided by the “Greater Central China” strategy, the Company continues to improve its core competitiveness and expand its business in external provinces. All core businesses have maintained steady growth. According to CCMGT’s interim report published in August 2021, the Company’s CCMGT’s core profit grew approximately 26% year-on-year to RMB 380 million, demonstrating a good result. CCMGT reached the highest core profit in the industry. Moreover, CCMGT’s revenue increased 32% year-on-year to RMB 635 million due to an expansion of GFA under management. As of 31 November 2021, the Company had 79 newly contracted projects, representing a year-on-year increase of 11.3%. The expansion of outside Henan province has achieved another great achievement. For the eleven months ended 30 November 2021, the Company had 10 newly contracted projects in provinces and autonomous regions other than Henan, including Anhui, Shanxi, Shaanxi, Hebei, Xinjiang, and Hainan, representing a year-on-year increase of 25%, with newly contracted GFA of 1,009,980 sq.m., representing a year-on-year increase of 43%.
Mr. Ma Xiaoteng, Executive Director of CCMGT, said, “We are honored that the Company has been recognized and encouraged in the Hong Kong capital market. CCMGT has accumulated rich experience in the asset-light agent construction industry since 2015. While creating value for partners, the Company is committed to achieving outstanding operating results.”
Looking forward, CCMGT will fully exercise the “Greater Central China” strategy, expedite new breakthroughs in provinces other than Henan, continue to increase investments in government project management, continuously improve products and services, keep diversifying business models, and optimise the organisational management mechanism. In the era of management dividends in the real estate industry, CCMGT will be dedicated to maintaining its core competitiveness and seek promote its transformation into a leading project management company.
About CENTRAL CHINA MANAGEMENT COMPANY LIMITED
CENTRAL CHINA MANAGEMENT COMPANY LIMITED (“CCMGT” or “Company”, Stock code: 9982.HK) is a leading project management company in China with a strategic focus on Great Central China. Relying on the well-known “Jianye” brand, unique asset-light business model, professional project management services, a comprehensive network of high-quality contractors and suppliers, and a set of standardized, high-quality, and continuously optimized and updated “Jianye” standards. As a solid foundation for its business, CCMGT continues to help projects create higher value and further consolidate its position as a leading project management company in China.
Topic: Press release summary
Sectors: Real Estate
From the Asia Corporate News Network
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CENTRAL CHINA MANAGEMENT COMPANY LIMITED (“CCMGT” or the “Company”, stock code: 9982.HK), a leading property project management company in China, today announces its unaudited interim results ended 30 June 2021(“Review Period”). During the Review Period, benefited from the PRC domestic property sector continued to recover and the Greater Central China strategy of the Company, the revenue of the Company increased 32% to approximately RMB635 million as compared to the same period of 2020. Net profit amounted to approximately RMB362 million, representing an increase of 20% as compared with the same period last year. Core net profit amounted to RMB380 million, an increase of 25.6% as compared to the same period of 2020. The earnings per share increased 17.8% to RMB0.12 cents. The Board of Directors declared an interim dividend of HK8.60 cents per share for the six months ended 30 June 2021.
During the first half of 2021, the world economy gradually recovered owing to the improved global COVID-19 situation. The Chinese economy is on a solid recovery track. During the Review Period, CCMGT owned 250 projects under management and had been present in 116 cities and counties, namely 99 cities and counties in Henan and 17 cities and counties in other 6 provinces. The projects cover Henan, Anhui, Shanxi, Shaanxi, Hebei, Xinjiang, and Hainan. During the Review Period, the Company owned GFA under management of 30.085 million sq.m., an increase of 25.2% as compared to the corresponding period of 2020. Among the projects, 52 project management contracts were signed with a newly contracted GFA of 5.734 million sq.m., a year-on-year increase of 21.5%, which included the projects under management were those in provinces other than Henan with GFA of 2.25 million sq.m., an increase of 145.0% as compared to the corresponding period of 2020.
As the parent company Jianye Group continued to improve its comprehensive capabilities, expand its brand influence, consolidates of its base areas in Henan and constant enhancement of the confidence of its team, and meanwhile launched the “Greater Central China” strategy under its provincial development and new blue ocean strategies. CCMGT, as one of the pioneers in implementing Jianye Group’s Greater Central China strategy, actively promoted project investment and expansion in “Greater Central China” region.
During the Review Period, the Company was dedicated to open up projects in Henan province. The revenue from projects in Henan province amounted to approximately RMB 596 million, a year-on-year increase of 26.5%. The revenue from projects outside Henan province amounted to approximately RMB 38.63 million, a year-on-year increase of 307.8%.
Mr. Wu Po Sum, Chairman and non-executive Director of CENTRAL CHINA MANAGEMENT COMPANY LIMITED, said, “CCMGT enjoyed not only its own development advantages, but the fact that the Chinese economy is on a solid recovery track also steady and sound growth momentum in China’s economy. As an inland open highland, Henan Province saw continuous improvement of its advantages as an integrated transportation hub and vigorous industrial transformation and upgrading. The urban agglomeration in central China promoted the integrated development of urban and rural areas and released huge market demands. On the other hand, thanks to changes in the policy environment and trends of the real estate market, the project management market offers abundant opportunities.”
China’s GDP increased by 12.7% year-on-year during the first half of 2021 and is forecasted by the World Bank to grow 8.5% throughout the year. This creates a positive, favourable environment for businesses to grow.
On 27 May 2021, the first China Project Management Value Summit released the Blue Paper for the Project Management Industry, which expected that the penetration of the project management industry will reach 4.8% in 2021. Compared to US and Europe project management industry penetration of 20% to 30%, China’s project management industry penetration has room to further grow up to 5.2 times. Thus, there’s enough room for competition and the prospect for development in future is promising.
Looking ahead, Mr. Wu Po Sum said, “With the increasingly widening of industry sectors and release of the industry’s potential for continuous growth, the Company will centre on products and services and steadily push forward a refined full process project management system. In the era of management dividends, the Group will build its core competitiveness and promote its transformation into a leading project management company.”
Topic: Press release summary