Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Monday, 5 September 2016, 07:10 HKT/SGT
Ronshine (3301.HK) Becomes a Constituent Stock of Hang Seng Composite Small Cap Indexes Today; Its Contracted Sales in 1H2016 Amounted to 82.6% of Annual Target

HONG KONG, Sept 5, 2016 - (ACN Newswire) - The constituent changes of Hang Seng Indexes has been made today (Sep 05). Apart from the constituent changes in the areas of blue chips and China Enterprises, the constituent stock of Hang Seng Composite SamllCap index has also included new stocks. Among which, a leading property developer in the PRC, Ronshine China Holdings Limited ("Ronshine")(Stock code: 3301.HK) becomes a constituent stock of Hang Seng Composite Small Cap Index ("Hang Seng Composite Index") today, subsequent to being included by Morgan Stanley Capital International ("MSCI") as a constituent of the MSCI Global Small Cap Indexes - China on 31 May 2016.

The consecutive inclusion by MSCI and Hang Seng Composite Index has fully demonstrated the great confidence of institutional investors in Ronshine as the leading property developer. Looking forward, in view of its rich experience on property development and proven track record period, coupled with its strategic development plan in Shanghai and Hangzhou, Ronshine is dedicated to grasp the opportunities in the PRC real estate market, of which residential properties have a rigid demand of home upgrades, so as to propel the Group's long-term steady growth, and eventually maximize shareholders' return.

Following its listing on the Main Broad of HKEx on 13 January 2016, Ronshine recently announced its 1H2016 Earning Results, which deeply reflected its successful development strategies and high growth potentials. In 1H2016, Ronshine's net profit increased by 197% yoy to RMB858 million while the net profit margin increased by 1.3 percentage points to 14.6% compared with the corresponding period last year. Furthermore, Ronshine has adopted an ambitious and accurate marketing strategy in 2016, which enable the Group to fully grasp the opportunities from the recovery of domestic real estate market, especially from the first- and second-tier cities' market, eventually achieved contracted sales of approximately RMB13.22 billion, representing an increase of approximately 177% yoy. During the Period, the recognised average selling price of properties delivered amounted to RMB14,457, representing a yoy increase of approximately 125%. With the outstanding contracted sales performance, the Group believes its business is expected to maintain a strong growth momentum in 2016.

Ronshine is primarily engaged in the development of mid- to high-end residential properties targeting at middle to upper-middle income households with a demand for home upgrades. Leveraging its success and rich experience in the real estate market of the Western Taiwan Straits Economic Zone, Ronshine has recently expanded into Shanghai and Hangzhou, which are the important economic centers in the Yangtze River Delta. The Group intends to solidify its market position in the Western Taiwan Strait Economic Zone and enhance its position in Shanghai and Hangzhou while further expanding in a prudent manner into other first- and second-tier cities.

As at 30 June 2016, the total gross floor area of the Group's land reserve was approximately 5.98 million sq.m,, among which, approximately 3.63 million sq.m. were under construction, and approximately 2.35 million sq.m. were held for future development. As at 30 June 2016, the Group had a total land reserve of 9.28 million square meters. In terms of assets value, over 60% of the Group's marketable properties were located in core cities on the Yangtze River Delta such as Shanghai and Hangzhou, and over 93% of the Group's marketable properties were located in cities such as Shanghai, Hangzhou and Fuzhou.

About Hang Seng Indexes Company Limited
Hang Seng Indexes Company Limited (Hang Seng Indexes), a wholly -owned subsidiary of Hang Seng Bank, was established in 1984 and is Hong Kong's leading index compiler covering Hong Kong and mainland China markets. Hang Seng Indexes calculates and manages the Hang Seng Family of Indexes. Starting in 1969 with the creation of the Hang Seng Index, now widely recognised as the barometer of the Hong Kong stock market, Hang Seng Indexes has been at the forefront of the market, developing numerous market measures to help investors make their investment decisions.

Indexes in the Hang Seng Family of Indexes are grouped into five categories - Flagship Indexes, Benchmark Indexes, Thematic Indexes, Strategy Indexes and Bond Indexes - then classified as Hong Kong-listed, Cross-market or Mainland-listed according to where their constituents are listed.

About Ronshine China Holdings Limited
Ronshine China Holdings Limited is a leading property developer in the PRC's Western Taiwan Straits Economic Zone, focusing on the development of residential properties in cities in the Western Taiwan Straits Economic Zone and selected first- and second-tier cities. The Group targets middle to upper-middle income households with a demand for home upgrades. The Group is dedicated to provide a comfortable living environment for residents. The Group has a diversified source of income with the development of not only residential properties, but also commercial properties, including office buildings, retail shops and hotels, etc.

Sept 5, 2016 07:10 HKT/SGT
Topic: Press release summary
Sectors: Financial, Business
From the Asia Corporate News Network

Copyright © 2016 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
Stronger Turbine Blades with Molybdenum Silicides  
Sept 24, 2016 20:00 HKT/SGT
Spikes Asia Festival of Creativity 2016 Award Winners Announced  
Sept 24, 2016 15:00 HKT/SGT
MHI Receives Order for 48 Carriages for Yurikamome Automated Guideway Transit System in Tokyo  
Sept 23, 2016 15:57 HKT/SGT
MCO-B, a Brazilian Subsidiary of Mitsubishi Heavy Industries Compressor Corp., Holds Opening Ceremony Marking Start of Full-scale Operations  
Sept 23, 2016 15:50 HKT/SGT
Toyota Develops a New DNA Analysis Technology to Dramatically Accelerate Improvements in Agricultural Production  
Sept 23, 2016 12:49 HKT/SGT
Lexus UX Concept Introduces Radical Immersive 3-D Driving Experience  
Sept 23, 2016 08:05 HKT/SGT
China VAST Introduces Celestial Ocean as Strategic Investor  
Sept 23, 2016 07:54 HKT/SGT
InvestHK turns spotlight on city as Asia's Fintech hub with launch of first Fintech Week Hong Kong  
Sept 22, 2016 21:54 HKT/SGT
Combining the Elements Palladium and Ruthenium for Industry  
Sept 22, 2016 21:30 HKT/SGT
LWG to Meet Korean Health and Beauty Companies in Q4  
Sept 22, 2016 18:45 HKT/SGT
More Press release >>
 News Alerts
Copyright © 2016 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: