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Jumat, 21 Agustus 2020 14:15:00

JY Grandmark 2020 Interim Results Announcements

Market Opportunities Arise for "Eco-friendly and People-oriented Property"
Rapid Growth in Core Net Profit        
Make Efforts to Deploy Urban Renewal
Increase Land Bank to Accelerate Geographic Deployment
HONG KONG, - 20 August 2020 - JY Grandmark Holdings Limited ("JY Grandmark" or the "Company", which together with its subsidiaries, is referred to as the "Group", stock code: 2231), a property developer and operator and property management service provider based in the People's Republic of China (the "PRC"), is pleased to announce the interim results of the Company for the six months ended 30 June 2020 (the "Period").
 
JY Grandmark positions itself as an "Eco-friendly and People-oriented Property Developer" and acquired land reserves in strategic locations with abundant natural resources, rich culture and potential for growth. The Group takes into account the natural and cultural resources of its project site in the design of properties to develop homes and communities that the Group considers to be truly liveable for buyers. This accurate positioning differentiates the Group from other property developers in the PRC.
 
During the Period, the Group's revenue amounted to approximately RMB924.7 million (1H2019: RMB762.4 million), representing a period-on-period increase of 21.3%. The Group's gross profit amounted to RMB404.5 million (1H2019: RMB 396.4 million), representing a period-on-period growth of 2.0%. Core net profit amounted to RMB193.8million (1H2019: RMB 134.7million), representing an increase of 43.9%. Profit attributable to owners of the Company amounted to RMB196.9 million（1H2019: RMB 185.0 million）, representing an increase of 6.4 %.
 
Market Opportunities Arise for "Eco-friendly and People-oriented Property"
 
The epidemic outbreak occurred around the first half of the year has brought a change to the supply side of the property market. The demand for home purchasing for home upgrade continues to rise and tends to gradually exceed the rigid demand for home purchasing. The Group has been focusing on segmented markets and targeting at purchasers looking for a home upgrade and multi-house ownership.
 
With "Eco-friendly and People-oriented Property" serving as our product development concept, we attach great importance to the health value that the internal and external living environment brings when selecting project sites, which help our products get increasing popularity in the market, and bring opportunities for the Group to further deepen the market.
 
The Group focus on the development of quality residential properties with comfortable and convenient living environment. During the Period under Review, revenue from recognised sales of property development of the Group amounted to RMB 884.7 million, representing an increase of 24.2% from RMB712.5 million for the same period of 2019. The increase in revenue recognised was primarily due to an increase in the aggregate gross floor area ("GFA") completed and delivered as a result of the Group's continuing expansion. (*).