Press Release
Realord Group Announces FY2024 Results: Revenue reached HK$428 million
(31 March 2025) Realord Group Holdings Limited (the “Company”, together with its subsidiaries, the “Group”, stock code: 1196) is pleased to announce its annual results for the year ended 31 December 2024. During the period, the Group recorded a total revenue of approximately HK$428 million, representing a year-on-year and gross profit was HK$153 million.The principal activities of the Group during the year included the Property Segment, the Financial Services Segment, the Environment Protection (EP) Segment, the Motor Vehicle Parts (MVP) Segment, the Commercial Printing Segment, the Department Store Segment, the Latin American and Caribbean (LAC) Segment, and Others Segment. Property investment SegmentProperties investment, development and commercial operation have always been one of the main development strategies of the Group’s overall business deployment and development goals. The Group holds three investment property projects, namely Realord Villas and Zhangkengjing Property in Longhua District, and Realord Technology Park in Guangming District in Shenzhen, the PRC. The Group also holds proposed development project and properties under development namely Laiying Garden in Nanshan District and Qiankeng Property in Longhua District respectively in Shenzhen, the PRC. There are five property projects on hand as at 31 December 2024. There are five real estate projects in hand. Revenue from the property segment is mainly derived from rental income from the Group's investment properties.
In 2024, the Group generated rental income of HK$42.5 million in FY2024 representing a year-on-year increase of 120%. The increase in rental income was mainly generated from the accrued effective rental income under from the Phase I of Realord Technology Park in FY2024. The number of tenants in the Sincere Mall has increased to 49. In FY2024, there were various development progress on five property projects. Firstly, for Realord Villas, up to the date of report, the number of tenants of Sincere Mall was 49 including children’s amusement park, education training centres, restaurants, fitness studios and billiard room. Secondly, for Realord Technology Park, the construction scale was approximately 110,000 square meters. For Phase I, a lease agreement was signed with hotel operator with international branded hotel operating experience under a lease term starting from 2024. For Phase II, the development plan will be started once government approval is granted. Thirdly, for Qiankeng Property, the construction scale was approximately 166,000 square meters and the redevelopment works were processing since the Group obtained the construction permits on earthwork and foundation construction in October 2023. In May 2024, the construction planning permit was obtained from relevant government authority. In July 2024, the construction permit was obtained and the redevelopment works on basement main structure engineering were processing up to the date of report. Fourthly, for Zhangkengjing Property, the application of change of land use from industrial use to residential apartments and commercial use was still under review as at the reporting date. Fifthly, for Laiying Garden, the Group obtained the land use permit from relevant government authority in July 2023 and obtained the construction permit on earthwork and foundation construction in March 2024 and the redevelopment works on foundation and earthwork construction were still being processed up to the date of report. Financial Services SegmentThe revenue of Financial Services Segment was HK$132.4 million in FY2024, which decreased by HK$10.1 million or 7.1% as compared to HK$142.5 million in FY2023. The decrease in segment revenue was due to the net effect of (i) decrease in interest income from money lending business and margin financing business by HK$12.1 million and HK$9.5 million respectively; (ii) decrease in commission income from securities broking of HK$20.6 million; and (iii) increase in income from financial services by HK$32.1 million.
Financial Services Segment recorded a segment profit of HK$78.1 million in FY2024, representing an increase of HK$2.4 million as compared to HK$75.7 million in FY2023. In FY2024, the US Federal Reserve cut interest rates since the third quarter of 2024 which stimulated the Hong Kong stock market became more active. Financial Services Segment is committed to providing diversified and premium services to customers in the primary and secondary markets.
EP SegmentEP Segment’s revenue recorded HK$229.2 million in FY2024 due to a stricter credit control on customers and concentrated its business in Japan market. EP Segment remained to be the Group’s major revenue contributor which was benefited from the large scale of Realord EP Japan leased land in Osaka, Japan with approximately 19,609 square meters (4 pieces). EP Segment will concentrate on searching for new sources of metal scraps and exploring new customer especially in Japan. MVP SegmentThe revenue of MVP Segment decreased by HK$41.4 million from HK$43.1 million in FY2023 to HK$1.7 million in FY2024 since the Group imposed stricter credit control on customers and downsized its scale of operations. MVP Segment recorded a segment loss of HK$32.0 million in FY2024 as compared to HK$10.3 million in FY2023. The segment loss was mainly attributable to (i) decrease in revenue; and (ii) increase in provision for expected credit losses from long outstanding trade receivables resulting from the delay in repayments from customers.
LAC SegmentThe revenue of LAC Segment generated from provision for citizenship application and consultancy services on citizenship by investment programme (“CBI Programme”) was HK$20.0 million in FY2024 as compared to HK$34.8 million in FY2023. Decrease in revenue was mainly due to decrease in number of application granted by the Minister of Grenada. The principal business of LAC Segment are provision of citizenship application and consultancy services on CBI Programme and development of the Grenada Project. The Grenada Project involves the development of a mixed property project consisting educational facilities, apartments for student, residential villas, hotel and resort facilities, commercial development and shopping facilities and in a longer plan university establishment(s) and related amenities. The Government of Grenada granted LAC Segment the “Approval Project Status” such that LAC Segment can develop the Grenada Project on foreign investors’ funding in accordance with the local laws under Section 11 of the Grenada Citizenship by Investment Act 15 of 2013 and a CBI Programme in Grenada. Through the CBI Programme, LAC Segment is authorised to raise capital from investors of the Project for funding the construction and development costs. Qualified investors of the real properties will be granted permanent Grenadian citizenship and a passport offering visa-free travel to over 153 countries including the United Kingdom, EU Schengen countries and the Mainland China. The Project marks a significant flag of our Group into the Caribbean region. The Group is keen to leverage its experience in the Grenada Project to explore further investment opportunities around the Caribbean economic zone and Latin American region. It is the corporate strategy of the Group to invest and/or to form joint ventures with local governments in the Caribbean economic zone to set up and develop new businesses taking advantage of raising capital from foreign investors through the CBI Programme of different countries. The Caribbean economic zone has long been popular with the Western countries such as Europe, the United States of America and Canada, and is an ideal place for vacations. In particular, Antigua and Barbuda, and Saint Kitts and Nevis are closer to the United States of America, and both countries have direct flights to Europe, the United States of America and Canada. It is the Group’s strategy to seek for professional investors to jointly invest in the projects in the Caribbean economic zone and Latin American region. Further, the Group is identifying capable and competent business partners with significant track record to participate in the projects. Subject to the planning and the feasibility studies of the projects as well as the requisite approval by the respective local government, it is expected that the Group would kick off the projects in near future.
NCPPCC member Bryan Lin was interviewed by CCTV News
Members of the National Committee of the Chinese People's Political Consultative Conference from Hong Kong and Macao who are attending the two sessions of the National People's Congress in Beijing are actively participating in political affairs. The members said that Hong Kong and Macao should seize the historical opportunity of China's modernization drive, give full play to their unique advantages of connecting with the world with the support of the motherland, and contribute to the high-quality development of the "one country, two systems". The Report made by PRC government on "two sessions" this year mentioned the keyword "Chinese-style modernization" many times. Members said that in the process of Chinese-style modernization, Hong Kong and Macao must further work together with the mainland, persist in reform and innovation, promote high-quality development, and allow "one country, two systems" to continue to radiate new vitality and vigor in practice. Bryan Lin, member of the National Committee of the Chinese People's Political Consultative Conference in Hong Kong, Realord Group (1196.HK) and The Sincere Company (0244.HK) chairman, said in an interview with CCTV News: "I hope that in the future, Hong Kong universities can have more in-depth cooperation with mainland universities and research and development institutions, so that new technologies can be implemented and produced in the Greater Bay Area."
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Vice Chairman of the National Committee of the Chinese People's Political Consultative Conference Zhou Qiang delivered a speech. NCCPPCC member Bryan Lin Xiaohui participated in the panel discussion
When discussing the government work report, the members attending the Third Session of the 14th National Committee of the Chinese People's Political Consultative Conference believed that the CPPCC should adhere to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, focus on the center and serve the overall situation, help promote high-quality economic development, and contribute to the promotion of Chinese-style modernization. Zhou Qiang, vice chairman of the National Committee of the Chinese People's Political Consultative Conference, said during a group discussion with members of the All-China Federation of Trade Unions that we must deeply understand the decisive significance of the "two establishments", resolutely implement the "two safeguards", adhere to the organic combination of party leadership, the united front, and democratic consultation, adhere to the unity of reform and the rule of law, and gather the power of progress through high-quality performance of duties.
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Ding Xuexiang discussed national affairs with CPPCC members from Hong Kong and Macao NCPPCC member Bryan Lin attended the meeting
On March 6, Ding Xuexiang, member of the Standing Committee of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, attended the joint group meeting of members of the National Committee of the Chinese People's Political Consultative Conference from Hong Kong and Macao. After listening carefully to the speeches of the members, Ding Xuexiang said that in the past year, the CPC Central Committee with Comrade Xi Jinping as the core has united and led the entire party and people of all ethnic groups across the country to successfully complete the main goals and tasks of economic and social development, and Chinese-style modernization has taken new and solid steps. With the strong support of the central government and under the leadership of the chief executives and governments of the SARs, Hong Kong and Macao have achieved new breakthroughs and shown new vitality in their development. Ding Xuexiang emphasized that we must shoulder the important mission of practicing "one country, two systems" in the new era, build a solid barrier to safeguard national security, consolidate and enhance the unique status and advantages of Hong Kong and Macao, promote Hong Kong and Macao to better integrate into the overall national development, and make greater contributions to building a strong country and national rejuvenation. I hope that all members will continue to work hard and make contributions to jointly write a new chapter of prosperity and development for Hong Kong and Macao.
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Bryan Lin, member of the National Committee of the Chinese People's Political Consultative Conference of Hong Kong, attends the 3rd Session of the 14th National Committee of the Chinese People's Political Consultative Conference
The 3rd Session of the 14th National Committee of the Chinese People's Political Consultative Conference opened in the Great Hall of the People in Beijing on the afternoon of March 4. Xi Jinping and other party and state leaders attended the opening ceremony. At the opening ceremony, the participating members of the National Committee of the Chinese People's Political Consultative Conference reviewed and approved the agenda of the 3rd Session of the 14th National Committee of the Chinese People's Political Consultative Conference, listened to the work report of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference and the report of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference on the work of proposals since the 2nd Session of the 14th National Committee of the Chinese People's Political Consultative Conference. During the two sessions, member Lin Xiaohui performed the functions of political consultation, democratic supervision, and participation in political affairs, focusing on the industrial upgrading of the Guangdong-Hong Kong-Macao Greater Bay Area, the introduction of talents for cooperation between Shenzhen and Hong Kong, and the innovative development of Hong Kong's financial market, and discussed national affairs and development with thousands of representatives and members from all over the country.
NCCPPCC member Bryan Lin:Hong Kong Kai Tak Sports Park will catalyze a new economic model of sports & tourism
Hong Kong Kai Tak Sports Park opened grandly on March 1. This largest sports infrastructure project in Hong Kong not only provides a new stage for local and international sporting events, but also becomes a new engine for Hong Kong to promote the development of the event economy and build a "city of events". Lin Xiaohui, member of the National Committee of the Chinese People's Political Consultative Conference of Hong Kong, chairman of the Realord Group and Sincerely, said in an interview with CCTV reporter Jin Dong that as a world-class top venue, Kai Tak Sports Park will leverage Hong Kong's event economy with international competitions and cultural events as a fulcrum. I believe that the holding of these events will also boost Hong Kong’s hotel retail, catering and other consumer chains and create long-term employment opportunities. At the same time, the park’s integration of sports, leisure and sports culture will not only enhance the city’s international image, but also catalyze a new economic model of sports + tourism, inject vitality into the community and consolidate Hong Kong’s position as the “city of events”.
The Sixth Session of the Seventh Shenzhen Municipal People's Congress opened, Bryan Lin Xiaohui, a member of the National Committee of the CPPCC and a standing committee member of the Shenzhen Municipal CPPCC in attendance
On the morning of February 25, the Sixth Session of the Seventh Shenzhen Municipal People's Congress commenced. More than 400 municipal people's congress representatives, bearing the trust of the people, attended the meeting and diligently carried out the sacred duties entrusted to them by the Constitution and laws. According to the meeting agenda, Shenzhen Mayor Qin Weizhong delivered the government work report on behalf of the municipal government. Bryan Lin Xiaohui, a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC) and standing committee member of the Shenzhen Municipal CPPCC, Realord Group (1196.HK), and The Sincere Company (0244.HK) Chairman attended the session.
Lin Xiaohui, a member of the National Committee of the CPPCC, standing committee member of the Shenzhen Municipal CPPCC, chairman of Realord Group, and chairman of The Sincere Company, commented that the government work report presented by Mayor Qin Weizhong summarized achievements in a factual manner, analyzed the current situation in an inspiring way, and outlined work plans systematically. Lin agreed and noted that the report possesses both a macroscopic strategic vision and a focus on microscopic livelihood challenges. Over the past year, new progress has been made in Shenzhen-Hong Kong cooperation. The mechanism for regular coordination and collaboration between Shenzhen and Hong Kong has become increasingly robust. Cross-border travel has become more convenient, and ties between the business communities have grown closer. The development and opening-up of Qianhai have taken on a fresh vitality, while the construction of Hetao has sparked a new wave of momentum. The government work report proposes that in 2025, the "Bay Area Connect" project will be advanced in depth, enhancing the "hard connectivity" of infrastructure and the "soft connectivity" of rules and mechanisms. Lin Xiaohui expressed particular agreement with this point, stating, "'Hard connectivity' is important, but 'soft connectivity' is even more crucial. 'Hard connectivity' is relatively easier to achieve, whereas 'soft connectivity' is a tougher challenge, requiring greater courage, determination, and innovative reforms." He further remarked that successfully achieving "soft connectivity" would carry even greater significance, expressing confidence that in 2025, the government will achieve significant breakthroughs in the "soft connectivity" of rules and mechanisms, thereby enhancing Shenzhen's role and influence as a national pilot demonstration zone.
The Fifth Session of the Seventh Shenzhen Municipal Political Consultative Conference opened National CPPCC member & Shenzhen CPPCC standing committee Member Bryan Lin attended Conference
On February 24, the Fifth Session of the Seventh Shenzhen Municipal Political Consultative Conference opened at the Shenzhen Hall. Lin Jie, Chairman of the Shenzhen Municipal Political Consultative Conference, delivered a work report on the Standing Committee of the Seventh Committee of the Shenzhen Political Consultative Conference. National Committee members of the Chinese People's Political Consultative Conference, standing committee members of the Shenzhen Municipal Political Consultative Conference, Realord Group (1196.HK) and The Sincere Company Chairman Bryan Lin Xiaohui, attended the conference.
Lin Xiaohui stated that Chairman Lin Jie’s report summarized the work of the Municipal Political Consultative Conference for 2024 from six aspects and made five main arrangements for work in 2025. He described it as a pragmatic and realistic report that he fully agreed. Over the past year, the Shenzhen Municipal Political Consultative Conference and Chairman Lin Jie have attached great importance to matters related to Hong Kong and Macau. They actively developed and strengthened Hong Kong and Macau patriotic forces , supported the re-election work of past Hong Kong and Macau committee associations, maintained close contacts with patriotic political groups and associations in Hong Kong and Macau, organized Hong Kong and Macau committee members to conduct national condition investigations, and united efforts to promote the steady implementation of "One Country, Two Systems." Chairman Lin Jie requested that in 2025, they continue to leverage the "dual positive role" of Hong Kong and Macau committee members while maintaining close ties with patriotic political groups and associations. As a member of the Hong Kong and Macau committee and a leader of a patriotic association in Hong Kong, Lin will continue to actively provide advice for governance this year, strive to build consensus, and make new positive contributions to promoting high-quality economic and social development in Shenzhen as well as to the practice of "One Country, Two Systems" in Hong Kong.
Lin Xiaohui believes that over the past year, the Standing Committee of the Municipal Political Consultative Conference has achieved remarkable results in proposal work, with a proposal response rate of 100% and 3,794 completed tasks. Regarding last year's proposal work, the Municipal Political Consultative Conference summarized four main practices that were very well articulated. Among these practices was organizing democratic supervision teams to focus on key social issues such as "reducing the burden on primary and secondary school teachers" and "management of electric bicycles," achieving visible results. He hopes this good practice will continue. He fully supports the four key points for proposal work in 2025, especially endorsing the implementation of a "look-back" cross-year tracking supervision for key proposals to understand the adoption and implementation status of proposal opinions and suggestions. This approach is very pragmatic; it helps ensure that good initiatives are well executed and sustained over time while effectively avoiding situations where relevant departments merely brush off proposals.
