JY Grandmark’s 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million

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Manifest Advantage of “Eco-friendly and People-oriented Property”

Contracted Sales Grow against the Market Trend

Actively Expand Land Bank and Seize Opportunities on Urban Renewal

HONG KONG SAR – Media OutReach – 25 March 2021 – JY Grandmark Holdings Limited, a property developer, operator and property management service provider based in the People’s Republic of China, is pleased to announce its annual results for the year ended 31 December 2020 (the “Year”).

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The Group 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 Year, the Group’s revenue amounted to RMB2,347.1 million (2019: RMB2,402.8 million), representing a year-on-year(“yoy”) decrease of 2.3%. The Group’s annual profit amounted to RMB478.4 million (2019: RMB494.4 million), representing a decrease of 3.3% yoy. The Group’s gross profit amounted to RMB912.7 million (2019: RMB1,144.2 million), representing a decrease of 20.2% yoy. Core net profit amounted to RMB427.3 million (2019: RMB446.9 million), representing a decrease of 4.4% yoy. Profit attributable to shareholders amounted to RMB485.2 million (2019: RMB501.5 million), representing a decrease of 3.3% yoy.

Position as an “Eco-friendly and People-oriented Property Developer” favored by the market Contracted sales grew against the market trend

In 2020, the Group achieved positive growths in terms of development area, sales area and sales. The aggregated contracted sales of the Group amounted to approximately RMB3,523.6 million, representing a growth of 13.1% yoy as compared to RMB3,116.3 million in 2019. The aggregated sales area was approximately 351,000 sq.m. ,representing an increase of 38.7% yoy as compared to approximately 253,000 sq.m. in the previous year.

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Due to the epidemic, projects of environment improvement and living space improvement were sought after, with five projects including JY Uniworld (景業壹方天地) in Zhaoqing, JY Gaoligong Town (景業高黎貢小鎮) in Tengchong, JY Grand Garden(景業雍景園) in Qingyuan, JY Mountain Lake Gulf(景業山湖灣) in Zhuzhou and JY Hot Spring Villas(景業瓏泉灣) in Conghua recorded satisfactory subscription results. JY Egret Bay (景業白鷺洲) located in Lingao County, featuring vacation products, won active subscriptions from those who wanted home upgrading and recorded ideal transactions. It verifies the correct prediction and the competitive advantages of JY Grandmark regarding market layout and product strategy.

Increased Land Bank to Accelerate Geographic Deployment

In 2020, the Group also actively expanded the land bank and acquired more high-quality lands in the existing markets with established brand effect. In the meantime, the Group focused on Yangtze River Delta, provincial capitals in central and western China and hotspot cities to seek opportunities. Throughout the year, the Group acquired a total of 12 lands via bidding in three hotspot provinces, Guangdong, Yunnan and Jiangsu, adding 1,141,000 sq. m. to the reserve development area. In the investment of lands acquired, the Group adopted the cooperation model for some projects and developed the projects in collaboration with strong real estate enterprises to improve the overall benefit. As at 31 December 2020, the total gross floor area of the Group’s land reserves reached approximately 4 million sq.m..

Good performance on operational indicators and credit rating gained recognition from the capital market

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With the good performance of operational indicators and credit rating, the Group won the recognition of the capital market and further developed the financing and credit channels. In March 2020, the Group successfully issued US$150 million of senior notes with the coupon rate of 7.5%. In December 2020, the Group entered into a facilities agreement of HK$734 million with certain financial institutions. As of 31 December 2020, net gearing ratio was at an industry-low level of 16.9%, decreased by 30.2 percentage points from 47.1% as of 31 December 2019. The Group will continue to optimise the asset-debt structure and maintain adequate liquidity in the long-run.

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Property management recorded strong operational indicators

During the Year, Zhuodu Property (卓都物業), the property management arm of the Group, recorded strong operational indicators: the chargeable area under management reaching 662,400 sq.m., representing an increase of over 210% yoy; the revenue reaching approximately RMB18.3 million, representing a growth of approximately 27.1% yoy. What is worth noticing is that in addition to the basic property management fees, approximately 30% of the revenue of the property management arm were sourced from other operational businesses, and innovative businesses will also become the revenue growth drivers that Zhuodu Property will focus to develop.

Hotel operations actively developed the market

Two Just Stay hotels seized the opportunity of stable epidemic development and consumption release, launched promotion activities in line with the trend and actively developed the market, thereby ushering in the “peak season” with high occupancy and recovering the operational loss caused by the pandemic. In 2020, Just Stay Hotel (廣州卓思道酒店) and Just Stay Resort (從化卓思道溫泉度假酒店) recorded an aggregate revenue of about RMB61.4 million and the operating results remained stable.

Strengthening urban renewal business with target land bank of 4 million sq.m.

Policies will open channels for such businesses as urban renewal. At present, the Group is actively studying the feasibility of several urban renewal projects, such as the core areas of Guangzhou and Foshan. The overall planning area is approximately 4 million sq.m., which is planned to be gradually converted in the future, thereby bringing rapid growth to the land reserve and results of the Group.

Mr. Michael Chan, Chairman and Executive Director of JY Grandmark said, “In 2020, the world’s economy has slowed down due to the impact of COVID-19. Amid the pandemic, China’s economy witnessed a turnaround and recorded a growth over the year, bringing a positive signal and confidence to the recovery of all sectors and the improvement of business environment. The Company responded promptly to the epidemic, strictly followed the government’s instructions to implement epidemic prevention and control and realised safe resumption of work. It also leveraged its core advantages. The Group sprinted to the business performance objectives with collective wisdom and concerted efforts, united to recover from the impact of COVID-19 and achieved a robust growth.”

“The Group anticipates that the overall domestic property market will trend positive in 2021: on the one hand, demands of objective nature in the property market will be further released as the consumption recovers, which will stimulate the sales volume; on the other hand, policies will open channels for such businesses as urban renewal, and property investment and development will embrace new opportunities and growth points. Furthermore, new turning points emerge in the consumption market after the epidemic, with the focus on location and price changing to the focus on integrated experience that covers multiple aspects including products, supporting facilities and property services. This change will bring opportunities to the Group’s position as an ‘Eco-friendly and People-oriented Property Developer’.”

“Looking into the future, the Group will seize the policy opportunities and follow the process of city planning and urbanisation to develop the urban renewal business in regions of high conversion and growth potential. Based on the business strategy of diversified development, the Group will strengthen the resource coordination in businesses of property development, property management, hotel and commercial operation, to maximise the productivity of business segments. The post-epidemic era highlights the advantage of ‘Eco-friendly and People-oriented Property’. By creating products with unique competitive advantages, the Group will improve the brand recognition and influence. In 2021, the Group will maintain the existing development advantages and improve the competitiveness to promote high-quality growth and rapid scale expansion, so that it will create greater value for owners and shareholders.”

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JY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million

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JY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand SpurJY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand Spur

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JY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand SpurJY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand Spur

Latest News

Cityneon Raises S$235 Million; Well Positioned for Next Growth Chapter

  • The global experience entertainment company gets a S$235 million shot in the arm, closes its private fund raising in April 2021
  • Investors both new and existing include Singapore's Pavilion Capital, Seatown Holdings International and EDBI, Qatar's Doha Venture Capital and financial institutions and family offices in Singapore and China
  • These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan
  • Funding comes just after the Group acquired multi-year licensing rights for James Cameron's AVATAR touring exhibition, and two original artefacts IP on the ancient civilization Machu Picchu from Peru and Ramses the Great (Ramses II) from Egypt
  • Investments position the Group well to bring experiences across the globe, targeting to launch six experiences in China and five in the U.S. by the end of 2021, with more in other parts of the world

SINGAPORE - Media OutReach - 21 April 2021 - Cityneon Holdings ("Cityneon", the "Company"/collectively with its subsidiaries, the "Group") raised S$235 million in the most recent round of private funding. The latest round of funding adds seasoned investors to Cityneon's already strong stable of shareholders.

This funding round was led by Singapore's Pavilion Capital, Seatown Holdings International, EDBI, and Cityneon's Executive Chairman & Group CEO, Mr. Ron Tan. EDBI and Pavilion Capital are existing shareholders of Cityneon whilst new investors include Seatown Holdings International, Qatar's Doha Venture Capital, which will now own approximately 4 per cent of the Group, and other financial institutions and family offices in Singapore and China.

These now join other existing Cityneon shareholders CITIC Capital, veteran entrepreneur and investor Mr. Johnson Ko, and Executive Chairman & Group CEO Mr. Ron Tan to form a new and strong shareholder base for the Group. Mr. Johnson Ko and Mr. Ron Tan remain as the largest shareholders of the company via their combined entity, West Knighton Limited.

The Group is now well positioned for its next growth chapter and will use the proceeds for capital expenditure that includes building more of its various intellectual property (IP) exhibition sets, totaling 24 travelling and four semi-permanent sets under the Studio IP partnerships and three travelling sets under the original artefact IP partnerships by the end of 2022.

Already, the Group just signed its fifth IP rights with Avatar from 20th Century Studios last year. Amidst the anticipation from Avatar fans worldwide, Cityneon will debut a multi-sensory Avatar exhibition in Chengdu, China in May 2021, ahead of the Avatar movie sequel which is slated for release in 2022. Avatar is the world's top grossing film of all time at over US$2.8 billion, and adding millions more after its successful re-release in China in March 2021. Avatar's director James Cameron has announced that he will be producing four sequels with 20th Century Studios, with the first sequel slated for release next year. Disney acquired 20th Century Studios for US$71 billion in 2019.

The Company also recently entered the original artefacts IPs space and will stage international exhibitions of the treasures of the ancient civilization Machu Picchu from Peru in Boca Raton, Florida and Pharaoh Ramses II from Egypt in Houston, Texas. These two experiences will start welcoming visitors in October and November 2021, respectively.

Other IP rights that the Group holds include partnerships with Universal Studios for Jurassic World: The Exhibition, Marvel for Avengers S.T.A.T.I.O.N., Lionsgate for The Hunger Games: The Exhibition and Hasbro for Transformers Autobot Alliance. All in, Cityneon holds the IP rights for five of the top 10 worldwide box office hits and two artefacts IP from Peru and Egypt. The Group expects to have six sets of its various IP rights travelling across China, and five travelling and permanent sets in the United States, with a few more in other parts of the globe.

The Group will also be reopening experiences that were temporarily closed in 2020, aiming to provide visitors with a safe entertainment option. These include the Marvel Avengers S.T.A.T.I.O.N. in Toronto, Canada that will be re-opening in May 2021; and the Marvel Avengers S.T.A.T.I.O.N. exhibition in Lotte Mall in Seoul, Korea in April 2021; the same exhibition space which previously housed Jurassic World: The Exhibition, another IP experience exhibition by the Group in 2019. In the past month, the Group also witnessed record visitor numbers at their semi-permanent installations in Las Vegas, USA, signaling a strong comeback and demand for their immersive experiences, as they step into the 6th year of operations there.

While there are exciting plans lined up, the Group is not resting on its laurels. More Hollywood IPs and artefact IPs can be expected, and there will be further announcements on new IP verticals in entertainment experiences that the Group is looking to enter.

Mr. Ron Tan, Executive Chairman & Group CEO of Cityneon, said: "It is exciting that the Company is going through such strategic expansion as one of the largest providers of exhibition entertainment experiences globally. The S$235 million funding round sets a solid foundation for us to invest in developing more of our entertainment experiences, to stage even more exhibitions of the five box office hits and two artefact IPs that we hold the rights to all over the world. I'm thankful that our strong investors base, now from Singapore, Hong Kong, China and the Middle East, have trust in our vision, and believe alongside us that this space of big ideas and big experiences will only grow."

By the end of this year, Cityneon will arguably be the largest provider of exhibition entertainment experiences internationally; with global footprints in more than 50 cities and welcoming 10 million unique visitors across the world by 2022.

Cityneon Holdings

With its global reach and international partnerships, Cityneon has the capability to serve its clients anywhere in the world. Cityneon was listed on the Mainboard of the Singapore Stock Exchange since 2005, and was privatized on February 2019 by West Knighton Limited, a company wholly owned by Cityneon's Executive Chairman and Group CEO, Ron Tan, together with Hong Kong veteran entrepreneur and investor, Johnson Ko Chun Shun. Johnson is a capital markets veteran and has held controlling interests and directorships in many listed companies. In May 2019, Cityneon welcomed CITIC Capital as a new shareholder, who holds approximately 10% shares in Cityneon. CITIC Capital is part of CITIC Group, one of China's largest conglomerates, and has over US$25b of assets under its management across 100 funds and investment products globally. Other institutional shareholders of the Group include EDBI - a Singapore government-linked global investor, and Pavilion Capital - a Singapore-based investment institution which focuses on private equity investments, that made strategic investments in August and October 2019 respectively, to support the Group's further expansion globally. For more information, please visit www.cityneongroup.com.


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JY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand Spur
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- Advertisement -JY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand SpurJY Grandmark's 2020 contracted sales increase by 13.1% y-o-y to approximately RMB3,523.6 million - Brand Spur