Realord Group Holdings Limited

Press Release

2024-11-22

Guanzhang Electric Factory urban renewal project is included! 24 new projects in Longhua started construction On November 22,Realord Real Estate (Shenzhen) Co., Ltd general manager Li Tianfu said in an interview with a reporter from Shenzhen TV Channel that as for the Guanzhang project itself, as a community mainly focusing on affordable commercial housing, whether it is There are many bright spots in terms of location conditions, transportation facilities, facilities and landscape resources, as well as the quality of the project itself. The smooth implementation of the plan is inseparable from the care and support of the leaders in our district and relevant functional departments for the people's livelihood security project. For example, during the project planning review, our city update department completed the district and city-related approval procedures within one week, creating a Longhua speed for planning review. The project is located in Fucheng Street, with a total investment of 1.3 billion yuan and an annual planned investment of 350 million yuan. The land area is approximately 24,263 square meters, with a total construction area of approximately 112,870 square meters. It is an industrial-reform-insurance project, including the construction of residential, commercial and public supporting facilities. After the completion of the project, it will provide Shenzhen with more affordable commercial housing, which will help improve citizens' living conditions and enhance their quality of life.

2024-09-25

Bryan Lin, Hong Kong NCCPPCC member was interviewed by CCTV: I would like to offer my blessings to the motherland The National Day on October 1st is coming. In order to welcome the 75th anniversary of the founding of the People's Republic of China, the Hong Kong society have recently sent blessings to the motherland. They said that as the Chinese nation moves toward great rejuvenation, Hong Kong will join hands with people of all ethnic groups across the country to forge ahead, embark on a new journey, and create new brilliance. Bryan Lin, member of the National Committee of the Chinese People's Political Consultative Conference of Hong Kong and Chairman of Realord Group (stock code: 1196.HK) and The Sincere Company Limited (stock code 0244.HK), said in an interview with CCTV news that he is looking forward to the future, and having full of confidence in China's development prospects. Hong Kong, as a special administrative region of the country, we should also proactively recognize, respond to, and seek changes, and jointly promote the construction of the Guangdong-Hong Kong-Macao Greater Bay Area by deepening cooperation with the mainland and injecting new impetus into regional economic development. Your browser does not support HTML video.

2024-08-28

Realord Group Announces 2024 Interim Results: Recorded Revenue HK$349 million (28 August, 2024 – Hong Kong) Highlights: Revenue was approximately HK$349.6 million, down 10.9% year-one-year Gross profit was approximately HK$135.9million, a year-on-year decrease of 12.4% Property segment Revenue increased near 1.5 time to HK$22 million Latin America and Caribbean Segment Revenue increased to HK$11.4 million Financial Highlights: For the 6 months ended 30 June HK$’000 1H2024 1H2023 Change Revenue 349,608 392,469 -10.9% Gross profit 135,898 155,081 -12.4% Profit attributable to owners (550,961) 26,035 (August 28, 2024 - Hong Kong) Realord Group Holdings Limited (the "Company", together with its subsidiaries collectively referred to as the "Group", Hong Kong stock code: 1196) announces the unaudited condensed consolidated results of the company and its subsidiaries for the six months ended 30 June 2024. During the period under review, the Group’s revenue was HK$392.46 million, down 10.9% from the same period last year; gross profit was HK$135.89 million, down 12.4% from the same period last year. The Group recorded a net loss of HK$551 million in 1H2024. Business review and outlook and corporate strategy The Group's main business segments include property, financial services, environmental protection (EP), department stores, and Latin America and the Caribbean (LAC). Property Segment The revenue from property classification mainly comes from rental income of investment properties. The Group generated rental income of 22.2 million Hong Kong dollars in 1H2024. The increase in rental income was mainly generated from the accrued rental income under rent-free period from the Phase I of Realord Technology Park in 1H2024. The number of tenants of Sincere Mall in Realord Villas in Longhua District has increased to 50, which include children's amusement center, education center, restaurants, fitness studios and billiard room. Realord Technology Park, located in Guangming District, Shenzhen and with a gross floor area (GFA) of about 111,000 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. The redevelopment works of urban renewal project of the Qiankeng Property (also known as the “Guanzhang Electric Factory Urban Renewal Unit”) with GFA of approximately 166,000 square meters located in Longhua District, Shenzhen were processing since the Group obtained the construction permit on earthwork and foundation construction in October 2023. In May 2024, the construction project 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 The Zhangkengjing Industrial Park Property (also known as the Urban Renewal Project of Qianhai Realord Cross-border Logistics Park), located in Longhua District, Shenzhen and its application for changing the land use from industrial use to residential apartment and commercial use is still under review. As for the Laiying Garden project in Nanshan District, Shenzhen, 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 processing up to the date of report. Latin American and Caribbean Segment Grenada development project in (located in the Hartman Hill area of St. George's Parish and divided into three lots with an area of 450 acres) (the "Grenada Project") involves the development of a mixed property project, including educational facilities, student apartments residential properties, hotels and resort facilities, commercial developments and shopping facilities, and the longer planned establishment of university institutions and related amenities. Through the Grenada Project's Citizenship by Investment Program (“CBI Program”), the Group is allowed to raise funds from investors of the project to finance the construction and development of the project. Qualified investors who invest real estate on the project will be granted a permanent citizenship and passport to Grenada. In the first half of 2024, the Group's revenue from CBI program consulting services was 11.4 million Hong Kong dollars. The increase in revenue was resulted from the client’s citizenship had been granted by the Minister as set out in Section 8 of the Grenada Citizenship by Investment Act 15 of 2013. The Grenada Project provides the Group with a valuable opportunity to diversify its business and operations in the Caribbean and Latin America regions and to expand the scale of its overseas operations. By introducing foreign investment under Grenada's CBI program, the Group has launched the Grenada project, established a management and marketing team, as well as setting up offices in Beijing, Shanghai, Shenzhen and Hong Kong, and hired consultants in the United States to implement marketing strategies to promote CBI programmes. Relying on the experience of the Grenada project, the group has further targeted investment in four other Caribbean countries, namely Antigua and Barbuda, Saint Lucia, Saint Kitts and Nevis, and Dominica. It is now looking for strong and capable investors. Business partners with outstanding track records, participating in projects in selected Caribbean countries and the Republic of Panama. Based on the planning and feasibility studies of the projects and the necessary approvals from various local governments, it is expected that the Group will launch such projects in the relevant areas in the near future. Financial Services Segment In terms of financial services, during the period under review, the revenue generated was approximately HK$87.3 million, and the profit was approximately HK$30.6 million. For Financial Services Segment, the Group will continue to develop various investment products to meet market needs and provide customers with diversified high-quality services in the international market. Environmental Protection Segment The revenue of Environmental Protection Segment decreased by HK$33.9 million from HK$170.6 million in 1H2023 to HK$136.7 million in 1H2024 since the Group imposed stricter credit control on customers and concentrated on its business in Japan market. The decrease in gross profit resulted from the decrease in revenue and the increase in provision for expected credit losses from long outstanding trade receivables resulting from the delay in repayments from customers. 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). The Group will concentrate on searching for new sources of metal scraps and exploring new customers in Japan. Department Store Segment For the department store segment, revenue generated during the period under review was approximately HK$65 million, representing a decrease of 12.6% as compared to the same period last year, and a decline in gross profit margin from 59% in 1H2023 to 55.4% in 1H2024 as a result of more price cutting to sales promotion. In the first half of 2024, Hong Kong's consumer and retail market experienced a period of weak consumption, resulting in fierce competition among retailers and more price reduction promotions. The overall stagnant market sentiment also had an impact on the Group's results in the first half of 2024. Taking into account the performance of the segment, the department store segment continues to take proactive measures to reduce operating costs; negotiate with store owners for rent concessions; and re-evaluate the profitability of stores and products. Outlook In the face of uncertainties such as the complex and volatile global economy, the Group will adopt a prudent and flexible approach to control operating costs and adjust business operations strategies to cope with the challenging market. It will continue to pay attention to the business plans of each business, associated risks and prospects to maximize shareholders’ returns.

2024-08-26

NCCPPCC member Bryan Lin was invited to attend the HKSAR government's seminar on the spirit of the Third Plenary Session of 20th CPC Central Committee On August 26, the Hong Kong SAR government held seminars on the spirit of the Third Plenary Session of the 20th CPC Central Committee. The guest speakers included Shen Chunyao, Deputy Chairman of the Constitution and Law Committee of the National People's Congress, Director of the Legal Affairs Committee of the Standing Committee of the National People's Congress, and Wang Wentao, Secretary of the Party Leadership Group and Minister of the Ministry of Commerce of the People's Republic of China. Chief Executive of the Hong Kong SAR Government John Li and Director of the Liaison Office of the Central People's Government in the Hong Kong Special Administrative Region Zheng Yanxiong delivered opening speeches respectively. More than 500 people attended the seminar that day, and Lin Xiaohui, a member of the National Committee of the Hong Kong Political Consultative Conference and Realord Group (1196.HK) and the Sincere Company (0244.HK) Chairman Bryan Lin Xiaohui, was invited to attend this seminar.

2024-08-02

NCCPPCC member & Realord & The Sincere Company Chairman Bryan Lin was inteviewed by China News Network: Hong Kong is actively committed to becoming one of the hubs of global family offices The Third Plenary Session of the 20th Central Committee of the Communist Party of China was held in Beijing from July 15 to 18. The meeting reviewed and approved the "Decision of the Central Committee of the Communist Party of China on Further Comprehensively Deepening Reform and Promoting Chinese-style Modernization." Different sectors of the community in Hong Kong are deeply encouraged. In interviews with reporters from China News Service, the representatives from different sector of society said that Hong Kong should actively seize the major opportunities of national development, taking its own advantages, better integrate into the overall development of the country and the new wave of reform and opening up, and contribute its own the power of. Bryan Lin, a member of the National Committee of the Chinese People's Political Consultative Conference and Chairman of Realord Group (Hong Kong stock code: 01196) and The Sincere Company (Hong Kong stock code: 00244) , said that in terms of consolidating and enhancing Hong Kong's status as an international financial, shipping, and trade center, Hong Kong relies on its unique advantages under "one country, two systems" and the implementation of a Mandarin system that is in line with the world's major economies. , has demonstrated a mature legal and institutional environment in the fields of investment, financing and commerce, and is favored by the international business community and investors. In recent years, Hong Kong has been actively committed to becoming one of the hubs of global family offices. With the support of the central government and the vigorous promotion of the SAR government, Hong Kong is fully capable and confident of making greater breakthroughs in this field. Your browser does not support HTML video.

2024-07-14

Shenzhen CPPCC Chairman Lin Jie, Chairman and her delegation visit Realord Group and Sincere Group On July 14, Shenzhen Municipal Committee of the Chinese People's Political Consultative Conference (CPPCC) Chairman Lin Jie and her delegation visited Realord Group (1196.HK) and Sincere Group (0244.HK). The delegation included Shenzhen CPPCC Vice Chairman & Chairman of the Shenzhen Municipal Committee of the Zhi Gong Party Wang Daping, Shenzhen CPPCC Secretary-general & Director General of General Affairs Office Liang Zengchang, Member of the Standing Committee of Shenzhen CPPCC & Shenzhen CPPCC Director of Committee for Liaison with Hong Kong, Macao, Taiwan & Overseas Chinese Fan Kun, Secretary of Shenzhen CPPCC General Affairs Office Yang Liu, Shenzhen CPPCC Second-Level of Director Committee for Liaison with Hong Kong, Macao, Taiwan & Overseas Chinese Lu Wei, and Shenzhen CPPCC professional and technical employee Huang Jiandong. During the visit, Member of the National Committee of the Chinese People's Political Consultative Conference, Member of the Standing Committee of the Shenzhen Municipal Committee of the Chinese People's Political Consultative Conference, Chairman of Realord Group and Chairman of Sincere Dr. Byran Lin Xiaohui, warmly welcomed Chairman Lin Jie and her delegation and held a meeting with the visiting leaders. Senior management of Realord Group and Sincere Group, including Chief Executive Officer Suki Su Jiaohua, Realord Group Chief Financial Officer & Company Secretary Barnabas Tsang, Sincere Chief Financial Officer & Company Secretary Ryan Ip also attended the meeting. Dr. Bryan Lin first expressed a warm welcome to the arrival of Chairman Lin Jie and her delegation, and gave a detailed introduction and latest business progress and future plans of the Realord Group. He recalled the scene when Chairman Lin Jie visited Realod Group during the Hong Kong District Council election in November 2015. At that time, Chairman Lin expressed her concern for the development of Hong Kong enterprises and social livelihood, which deeply touched his heart. Today, with the implementation of the National Security Law, under the leadership of patriots governing Hong Kong, Hong Kong has gone from chaos to governance, from governance to prosperity, and the society is thriving. Today's situation is hard-won and makes people cherish it. Chairman Lin Jie thanked Dr. Lin and Suki Su for taking time out of their busy schedules to hold this meeting, and congratulated the Realord Group on its steady development over the past 19 years. She said that the new business segment of the Realord Group is in line with the current development direction, especially in the process of Hong Kong's transition from chaos to governance, from governance to prosperity, the Realord Group has actively integrated into the development of the Guangdong-Hong Kong-Macao Greater Bay Area and expanded new businesses. Sincere Group has a significant brand effect, which combines its business with other sectors such as finance and real estate, and integrates it into the mainland with the help of the development of the Greater Bay Area, which has broad prospects in future. Chairman Lin Jie also highly praised the development of the overseas sector of the Realord Group, believing that it is highly consistent with the country's "going out" strategy. In addition, Chairman Lin Jie expressed high respect for the contributions of Dr. Lin and Realord Group in social responsibility. She pointed out that the Realord Group has made great contributions to supporting the SAR government in governing according to law and maintaining stability in Hong Kong, reflecting a high sense of social responsibility. As a member of the National Committee of the Chinese People's Political Consultative Conference, Member Lin Xiaohui actively performed his duties and put forward many constructive suggestions for the economic prosperity and development of Hong Kong. He truly thought about problems from the perspective of the long-term prosperity and development of the country and Hong Kong, which is admirable.

2024-06-30

NCCPPCC Member Bryan Lin: Cooperation in the Greater Bay Area helps Hong Kong's high-quality development July 1st marks the 27th anniversary of Hong Kong's return to the motherland. Over the past year, the Hong Kong Special Administrative Region has shown excellent development momentum, with continuous economic development, increasingly improved social environment, and steady improvement in the world's competitiveness ranking. Recently, the International Institute for Management Development in Lausanne, Switzerland, released the latest 2024 World Competitiveness Annual Report, and Hong Kong's ranking improved by two places to fifth in the world. It can be seen that Hong Kong is polishing its golden sign. The governance and prosperity are unstoppable, and we work together to write a new chapter. In the 2024 Hong Kong Competitiveness Annual Report, Hong Kong's ranking rose. Among the four competitiveness factors in the annual report, Hong Kong's business efficiency and infrastructure rankings increased significantly, ranking among the top ten in the world, and government efficiency ranked among the top three in the world. , the ranking of economic performance has also improved significantly, reflecting the economic recovery in 2023. The latest statistics show that Hong Kong's overall exports and imports increased by 14.8% and 9.6% respectively in May 2024. Real GDP growth in the first quarter of 2024 was 2.7% year-on-year. Dr. Bryan Lin Xiaohui, Member of the National Committee of the Hong Kong Political Consultative Conference and Realord Group and Sincere Chairman, said in an interview with CCTV News that there will be more than 9,000 companies based in Hong Kong with their headquarters in the mainland or overseas in 2023; international legal organizations such as The Hague Conference on Private International Law have been established in Hong Kong Institutions, more than half of the world's top 100 law firms practice in Hong Kong. In the next stage, Hong Kong can fully empower the development of emerging industries based on its own advantages. Your browser does not support HTML video.

2024-06-29

Realord Group and Sincere CEO Suki Su: The tax-free adjustment for mainland tourists to Hong Kong has brought development opportunities to our retail industry The Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation jointly issued an announcement on the 28th that the tax-free limit for luggage items carried by resident passengers entering Hong Kong and Macau has been increased from 5,000 yuan to 12,000 yuan. This measure will be implemented gradually from July 1. The Hong Kong SAR government and people from all walks of life warmly welcome this measure, believing that it will promote diversified tourism development. The Chief Executive of the Hong Kong Special Administrative Region, John Lee Ka-chiu, expressed his sincere gratitude to the central government for launching a number of measures to help promote Hong Kong's economy. The new measures can enhance the shopping experience of residents and tourists in Hong Kong, allowing them to enjoy greater freedom when shopping, which will help attract more tourists to Hong Kong and promote diversified tourism development. On the other hand, the measures can also promote Hong Kong's retail market and inject impetus into the local economy. Realord Group and Sincere CEO Suki Su Jiaohua, said in an interview with CCTV News that the tax-free adjustment for mainland tourists visiting Hong Kong will undoubtedly further (strengthen) tourism business exchanges between the mainland, Hong Kong and Macao and provide convenience for tourists. , and at the same time bring development opportunities to our retail industry. Your browser does not support HTML video.