Company Profile
Corporate Information
Basic Information
Financial Ratios
Profit Loss
Cash Flow
Balance Sheet
Earnings Summary
Dividend History
Securities Buyback
Company Profile
Chairman Liu Lit Chi
Share Issued (share) 379M
Par Currency -
Par Value -
Industry Property Investment
Corporate Profile Business Summary:
The principal activities of the Group are property investment and investment holding.

Performance for the year:
For the year ended 31 December 2018, the Group recorded audited consolidated profit of approximately HK$1,047.9 million, comparing to that of 2017 amounted to approximately HK$773.8 million, representing an increase of approximately 35%.

Business Review:
Property Investment
Overall Rental Revenue
For the year ended 31 December 2018, the Group recorded gross rental revenue of approximately HK$355.7 million, decreased by approximately HK$9.9 million from
approximately of HK$365.6 million in 2017, representing a decrease of 2.7%.

Overall occupancies
The Group’s overall occupancy from major investment properties continued to maintain at 87.7% as at 31 December 2018.

HK Properties
Chong Hing Square
Chong Hing Square, located at 601 Nathan Road Mongkok, is a 20-storey ginza-type retail/commercial development offers over 182,000 square feet of retail and commercial space. For the year ended 31 December 2018, Chong Hing Square generated rental revenue of approximately HK$113.9 million, decreased by HK$8.3 million from approximately HK$122.2 million in 2017 with occupancy of 96%. As at date of board meeting, the building was 100% occupied.

Chong Hing Bank Centre
Chong Hing Bank Centre, located at 24 Des Voeux Road Central, is a 26-storey Grade A office building. Having retained several floors for group’s use, the office building was leased to Chong Hing Bank Limited for 5 years fixed tenancy with option to renew for another 5 years. For the year ended 31 December 2018, a total of approximately HK$67.9 million rental revenue was derived from this building.

Chong Yip Centre
Chong Yip Centre is located at 402–404 Des Voeux Road West. It provides over 54,000 square feet of retail and commercial space. For the year ended 31 December 2018, this retail and commercial shopping center generated rental revenue of approximately HK$20.4 million, slightly decreased by 2.4% when comparing to that of 2017. The occupancy was 68% as at 31 December 2018. The management had approved to revamp the property in order to get higher rental return. Planning of renovation work is under preparation and the construction will commence in second quarter of 2019.

Fairview Court
Fairview Court is located at 94 Repulse Bay Road. The Group owns 5 units, each of areas over 4,100 square feet, luxury apartment on a low-rise building. For the year ended 31 December 2018, Fairview Court received rental revenue of approximately HK$7.1 million (before rental elimination of HK$3.8 million) with 100% occupancy.

PRC Properties
Chong Hing Finance Center, Shanghai
The Group’s mainland flagship property located at 288 Nanjing Road West in Huang Pu District of Shanghai is a 36-storey Grade A commercial building which commands a strategic location and enviable view over The People’s Square just across the street. With a total floor area of over 516,000 square feet of office and commercial spaces and 198 carparks, this property was approximately 80% let in terms of office space and 100% let in terms of retail space as at year end. For the year ended 31 December 2018, this office building generated rental revenue of approximately HK$141.2 million, representing a slightly decrease of 2%.

Property Development
Hong Kong
ONE-EIGHT-ONE Hotel & Serviced Residences
The previous office building (formerly known as Western Harbour Center), located at 181–183 Connaught Road West, was under construction to convert into a 183-room hotel and serviced residences. Construction work came to the final stage and the occupation permit was scheduled to be obtained in the 2nd quarter of 2019. Total renovation costs including professional fee amounted to approximately of HK$532 million and all expenditures are funded by internal resources.

The Grand Riviera, Foshan
This comprehensive development situated at 1 Guilong Road, Luocun in the Nanhai District of Foshan, is conveniently located within half an hour’s drive from the Foshan financial district and within 5 minutes’ drive from the new Foshan West Station.

Development Status
This Foshan residential project is a comprehensive development and is developed by phases. The whole project, including Phase 1 to Phase 4, was completed and handover for occupation in September 2018.

Financial and Sale results
For the year ended 31 December 2018, the Group recorded sale revenue of approximately HK$1,297.3 million. The sale was mainly referred to the sale of Phase 4 of which 933 residential units were sold and recognized under consolidated statement of profit or loss in the year of 2018.

As at date of Board meeting, a total of 4,982 residential units out of total 5,264 units (representing 95%) and a total of 1,184 carpark units out of total 4,669 units (representing 25%) were successfully sold out fetching accumulated sale proceeds of approximately HK$5.2 billion.

The management forecast that further sale proceeds of approximately HK$1.8 billion would be received if all unsold properties including residential units, carparks and retail shops were sold under current market conditions.

Budget Hotel Project
Since 2008, the Group started to operate budget hotel business in Shanghai, Beijing and Guangzhou. All of these budget hotels are managed by and under the brand name of Hanting.For the year ended 31 December 2018, hotel revenue increased by 7.1% from approximately of HK$11.3 million in 2017 to approximately HK$12.1 million in 2018. Due to the restructuring of the business strategy, the Group had sold the budgeted hotels at Shanghai and Beijing in 2016, only the hotel in Guangzhou remains in operation.

Share of results of joint ventures
During the year of 2018, the Group teamed up with the same joint venture partner, in addition to the investment in 2017, to acquire one more warehouse (now in total 3 warehouses) in Japan and one manufacturing plant in Australia. The management regarded the investment would bring the Group’s a stable rental return together with a long term appreciation of properties. The share of results of joint ventures of approximately HK$61.8 million, under equity accounting, represented the 50% share of net asset value of the investment which included the annual rental revenue and asset revaluation gain.

The Group will strive to overcome the difficulties and challenges ahead to create higher return to our shareholders.
Information from the financial statements of listed companies
Last Update: 2019/03/08
AASTOCKS.COM LIMITED (阿斯達克網絡信息有限公司) All rights reserved.
You expressly agree that the use of this app/website is at your sole risk. Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., ICE Data Services Limited, their respective holding companies and/or any subsidiaries of such holding companies, their Sources and/or other third party data provider(s) endeavour to ensure the accuracy and reliability of the Information provided but do not guarantee its accuracy or reliability and accept no liability (whether in tort or contract or otherwise) for any loss or damage arising from any inaccuracies or omissions.

Neither Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., ICE Data Services Limited nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) make any express or implied offers, representations or warranties (including, without limitation, any warranty or merchantability or fitness for a particular purpose or use) regarding the Information.

Neither Limited, HKEx Information Services Limited, China Investment Information Services Limited, Shenzhen Securities Information Co. Ltd., ICE Data Services Limited nor their respective holding companies and/or any subsidiaries of such holding companies nor their Sources and/or other third party data provider(s) will be liable to any Subscriber or any other party for any interruption, inaccuracy, error, or omission, regardless of cause, in the Information or for any damages (whether direct or indirect, consequential, punitive, or exemplary) resulting from its use by any party. Limited shall not be liable for any failure or delay in performance of its obligations under this Disclaimer because of circumstances beyond its reasonable control, including but without limitation, acts of God, typhoons, rainstorms, other natural disasters, government restrictions, strikes, wars, virus outbreak, network failures or telecommunications failures.

Morningstar Disclaimer: Copyright Ⓒ 2019 Morningstar, Inc. All Rights Reserved. The information, data, analyses and opinions ("Information") contained herein: (1) include the proprietary information of Morningstar and Morningstar’s third party licensors; (2) may not be copied or redistributed except as specifically authorised; (3) do not constitute investment advice; (4) are provided solely for informational purposes; and (5) are not warranted to be complete, accurate or timely. Morningstar is not responsible for any trading decisions, damages or other losses related to the Information or its use. Please verify all of the Information before using it and don’t make any investment decision except upon the advice of a professional financial adviser. Past performance is no guarantee of future results. The value and income derived from investments may go down as well as up.

The information and contents contained in this app/website are based on the analyses and interpretations of publicly available information obtained from sources believed to be reliable. Such analyses and information have not been independently verified and Limited makes no guarantees to their accuracy, completeness, timeliness or correctness.

The information, financial market data, quotes, charts, statistics, exchange rate, news, research, analysis, buy and sell ratings, Education Center and other information on this app/website should be used as references only at your own discretion. Prior to the execution of a security trade based upon the Information, you are advised to consult independent professional advice to verify pricing information or to obtain more detailed market information. Limited is not soliciting any subscriber or app/website visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this app/website are taken at your own risk for your own account. Limited provides the information and services on an "AS IS" basis. The information and contents on this app/website are subject to change without notice. Limited reserves the right, in its sole discretion but without any obligation, to make improvements to, or correct any error or omissions in any portion of this app/website at any time.

The subscriber or app/website visitor agrees not to reproduce, retransmit, disseminate, distribute, broadcast, publish, circulate, sell or commercially exploit the information and contents on this app/website in any manner without the express written consent of Limited.

Investment involves risk. You may make use of the Education Center of this website for academic reference purposes at your own discretion. Limited cannot and does not give any assurance that the present or future buy/sell commentaries and signals on this app/website will be profitable. Limited cannot guarantee, and the subscriber or app/website visitor should not assume, that the future performance will equal past performance. Limited may point to other sites that may be of interest to the subscriber or app/website visitor but for which Limited has no responsibility and only provides this as a service to the subscriber or app/website visitor. Limited does not represent or endorse the accuracy or reliability of any information, advertisements or contents contained on, distributed through, or linked, downloaded or accessed from any of the services on this app/website. Limited cannot and does not guarantee the quality or reliability of any products or information purchased or obtained by you as a result of an advertisement or any other information displayed on this app/website. Limited features instant comments section for visitors to express their views and/or opinions to our website or mobile application via Facebook Comments Plugin. Any such comments as uploaded by visitors solely represent the views and/or opinions of the respective visitors. Such contents do not represent the views or opinions of Limited by any measure. Visitors should be responsible for verifying the overall authenticity of the contents in the comments section at their own discretion. Limited reserves the right to review and delete/block any comments as uploaded by visitors (without any prior warning or notice). In the event of any dispute, Limited has sole and final discretion of interpretation. You acknowledge that Limited takes absolutely no ownership and / or full control over such contents and Limited hereby expressly disclaims all liability or responsibility for any loss or damage of any sort caused directly or indirectly by the contents in the comments section at Limited. Facebook is a registered trademark of Facebook Inc. in the United States and other countries.

The disclaimer herein shall be governed by the law of the Hong Kong Special Administrative Region of the People's Republic of China ("Hong Kong") and you agree to submit to the exclusive jurisdiction of the Hong Kong courts.

In the event of any discrepancy between the Chinese and English versions, the English version shall prevail.

Last updated on 15 May 2019.