Press Release
Realord Chairman Dr. Bryan Lin wishes you a Happy Chinese New Year 2023
Dear colleagues, shareholders and friends:
A tiger rejoices to farewell while a rabbit jumps to welcome the new year. On the occasion of the Chinese New Year of the Rabbit, on behalf of Realord Group (Hong Kong stock code: 01196) and Sincere (Hong Kong stock code: 00244), I would like to express my New Year greetings to you and your family who care about and support Realord Group and Sincere's development , I sincerely wish everyone a happy Chinese New Year and a happy Year of the Rabbit!
The year 2022 that has just passed is a year worthy of being remembered by history. This year, the 20th National Congress of the Communist Party of China was successfully held, sounding the clarion call of the times for a new journey, and pointing out the direction of struggle for all of us; and to create a new chapter; this year is also the 18th anniversary of Realord Group since the establishment. In pursuit of dream, we have achieved good results in various businesses.
Today, with the resumption of customs clearance in Hong Kong and the Mainland China, society embarks on the road to normalcy, which will surely make our dream-chasing road shine more brightly, and we will have great potential in the new era and new journey, and the scenery is boundless. 2023 will be a year of opportunities and challenges. Let us uphold our original mission, with enthusiasm and hope, and work together to forge ahead!
Finally, once again I wish friends from all walks of life good health, happy family, a new year with a new look, and a better new year.
Lin Xiaohui,Chairman of Realord Group and Sincere Company
January 22, 2023
Sincere Department Store was awarded as “The Most Popular Department Store” by TVB Weekly
(January 17, 2023, Hong Kong) Sincere Department Store (“Sincere”, stock code: 0244), the subsidiary of Realord Group Holdings Limited (the “Company”, together with its subsidiaries, collectively referred to as the “Group”, stock code: 1196) and the first Chinese-owned department store in Hong Kong, is pleased to announce to be awarded as “the Most Popular Department Store” from “TVB Weekly Brand Award” to praise for its ability to grasp market changes, seize new opportunities and turn disadvantages into advantages even in difficult times.
“TVB Weekly Brand Award Ceremony” hosted by “TVB Weekly”, the official publication of Television Broadcasts Limited (TVB), was held recently. Ms. Su Jiaohua, CEO of Sincere Department Store received the trophy of “the Most Popular Department Store Brand Award” in person at the venue and said, “Thank you TVB, the Review Committee and the relevant units for recognizing and praising to Sincere. On behalf of all the staff, I sincerely would like to express our gratitude here. Our success relies on our unity and the supports from our customers. Sincere will continue to adhere to our business objective, ‘serving with sincerity,’ and to meet the needs of the customers.”
“TVB Weekly Brand Award” aims to praise a number of outstanding brands recognized by the industry. The winners are selected by professional jury and the public, according to their popularity, product acceptability and brand reputation. It has approved that as a leader in the industry, Sincere can still move with times in the rapidly changing market, including strengthening the online store timely. The shop has more than 1,000 products currently, allowing customers to enjoy the shopping experience of online and offline department stores so as to revitalize the brand.
With the support of Realord Group, the business and service quality of Sincere have been advanced, including the opening of the first “Sincere Mall” in Realord Villas Shenzhen this year whichhas successfully expanded overseas markets. The Mall is with around 30,000 square meters of commercial area, and total of 130 shops. It gathers different types of shops such as catering, education and training, supermarkets, and leisure and entertainment.
Also, Sincere introduced “Nakamura Store”, a new Japanese retail brand, before which provides customers with more than 800 Japanese foods and reaches a wider customer base to bring new development impetus to the Group.
The Most Popular Department Store｜Sincere Department Store
https://youtu.be/e-K5xAKnzzE
Bryan Lin Attends The 2022 Futian District Entrepreneurs Day Symposium
(29 October 2022 – Shenzhen) The 2022 Futian District Entrepreneurs Day Symposium was held. Leaders of Futian District and the entrepreneurs gathered together to communicate and share opinions for the Shenzhen development. Feng Dechong, Party Leadership Group Member & Vice Chairman of Shenzhen Federation of Industry and Commerce, Secretary of Party Affairs Committee of Government Agencies, Futian District, Huang Wei, Li Shiqing, Chairman of the Chinese People’s Political Consultative Conference (CPPCC) Shenzhen Futian District, district leaders Ouyang Huiyu and Zhu Jiang attended the meeting. The meeting was presided over by Wu Huan, Member of Futian District Committee of Shenzhen Municipal Standing Committee of the CPC & Chairman of United Front Department of Shenzhen Municipal Committee of the CPC.
The representatives of Futian District entrepreneurs expressed their minds directly, around the grand blueprint of the 20th National Congress of the Chinese Communist Party. Dr. Bryan Lin, Chairman of Shenzhen Futian District Federation of Industry and Commerce (General Chamber of Commerce), Chairman of Realord Group Holdings Limited & The Sincere Company, said that he will earnestly study and implement the spirit of the 20th National Congress of the Communist Party of China, unite more compatriots together, and take the advantages of Shenzhen and Hong Kong. He believed that Futian District plays a bigger role in the Shenzhen-Hong Kong Innovation and Technology Co-operation Zone in the Lok Ma Chau Loop will not only help promote the integration of Hong Kong into the overall development of the country, but also contribute to its accelerated construction of a model city of socialist modernization in an all-round way.
CCTV focuses on the China's 20th Party Congress! Lin Xiaohui: On the new journey of China, Hong Kong will surely create greater brilliance
(18 October 2022 – Shenzhen) On October 16, the 20th National Congress of the Communist Party of China was grandly opened in Beijing. Xi Jinping's report to the Congress on behalf of the 19th Central Committee of the Chinese Communist Party aroused strong responses. Sectors of society in Hong Kong and Macau pointed out that the report of the 20th National Congress of the Communist Party of China give new directions, provides new opportunities, brings great confidence and for Hong Kong and Macau to better integrate into the overall development of the country.
Dr. Lin Xiaohui, the election committee member of Hong Kong's grass-roots associations, interviewed by CCTV and said that the provides clear guidelines for Hong Kong's development and new opportunities for Hong Kong's development. The next five years will be a critical period for Hong Kong to create a new situation and achieve a new leap forward. We believe that Hong Kong will be able to create even greater brilliance in the new journey and to achieve PRC's second centenary goal.
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Realord International Chairman meets with Grenada’s Prime Minister Work together to create a brighter future
(12 October 2022 – Hong Kong) Realord Group Holdings Limited (the "Company", together with its subsidiaries, collectively referred to as the "Group", stock code: 1196) has been actively developing business in the Latin American and Caribbean region, with a focus on a project in Grenada. Mr. Ma Chao, Chairman of Realord International Holdings Limited, a subsidiary of the Group had a meeting with Dickon Mitchell, the new Prime Minister of Grenada, and both sides expressed their keen expectations on the project.
During the meeting, Mr. Ma Chao reported to Prime Minister Mitchell on the progress of the Hartman University Town and Resort project. As a starting point and cornerstone of the Group’s strategies in the Latin American and Caribbean region, this project is positioned in the international education market which integrates ecology, tourism, leisure, and health care and aims at becoming the benchmark in the region so as to contribute to boosting local construction through the steady operation of the project.
Mr. Ma Chao, Chairman of Realord International Holdings Limited said, ”With the strong support and cooperation of the local government, the project is progressing in a continuous and orderly manner. On behalf of the Group, we may thank Prime Minister Mitchell for the affirmation of the progress of the project. We believe that Hartman University Town & Resort, the first property project of the Group will rise on the shores from this unique heart-shaped bay of Grenada.”
Both sides further discussed about broader cooperation opportunities and strategic development at the meeting, including implementation of the projects to promote the long-term and sustainable economic development in Grenada. Prime Minister Mitchell said, “We have high expectation to the Hartman University Town & Resort project and are eager to work with Realord Group. With the cooperation of local professional team, we believe that project will be completed in phases at an accelerated pace, and it is expected that more local employment opportunities will be created in the near future.”
Sincere Mall in Longhua District, Shenzhen holds grand opening Organizes different activities to celebrate the National Day
(1 October 2022 – Shenzhen) Realord Group Holdings Limited (the "Company", together with its subsidiaries, collectively referred to as the "Group", stock code: 1196) and its subsidiary Sincere Department Store ("Sincere", stock code: 0244), the first Chinese-owned department store in Hong Kong, are pleased to announce that Sincere Mall, which is located in Realord Villas Shenzhen, successfully held a grand opening.
Sincere Mall is located in Luhu Sub-district of Longhua District, Shenzhen, with around 30,000 square meters of commercial area, and total of 130 shops. It gathers different types of shops such as catering, education and training, supermarkets, and leisure and entertainment.
The Grand Opening of Sincere Mall also coincides with the National Day of the People’s Republic of China. On this double festive day, from October 1, 2022 until October 7, 2022, Sincere Mall and the on-site merchants will jointly hold a "Festival Sales Week", to present a number of exciting activities for customers. Among them, customers can redeem movie tickets with receipts of certain amount as long as they spend in Sincere shopping Mall.
Mr. Lin Xiaohui, Chairman of Realord Group said, “The Grand Opening of Sincere Mall marks a milestone for the company. In the future, this project will combine with the business advantages in property investment and department store retail to create an integrated commercial and residential complex which injects impetus into sustainable development of the Greater Bay Area. Also, the Group plans to develop a large trade city in the Caribbean and Latin American region and to introduce Sincere Store inside. Under the synergy effect, we believe that both can achieve more outstanding results in the future. “
Ms. Su Jiaohua, CEO of Sincere Department Store said, “Under the era of high consumption, shopping malls also require to be upgraded constantly to meet the needs of the customers. To adhere to our business objective, “serving with sincerity,” we will actively bring high quality products from all over the world and strive to provide our customers with satisfactory shopping experience.
Sincere Department Store's "Nakamura Store" opened today
(September 1, 2022 – Hong Kong) The Sincere Company Limited (HKSE Stock code: 0244), the first Chinese-owned department store in Hong Kong, officially launched to commence "Nakamura Store" which operates Japanese retail food business. The opening ceremony was held in Sincere Department Store Sham Shui Po Shop at Dragon Centre.
Ms. Su Jiaohua, Chief Executive Officer of Sincere said, "Sincere Department Store is one of the classical and the most prestigious department stores in Hong Kong. It has always been committed to meeting customers' needs and providing quality services and a wide variety of products with affordable prices to maintain its leading position in the retail industry. "Nakamura Store" marks the first time that the Sincere Department Store has developed the Japanese food business and has reached a wider customer base with providing more food products, which will be a new starting point and a new driving force, and brings new opportunities and highlights to Sincere.
"Nakamura Store" is a brand new brand offering over 800 popular Japanese food items, including Japanese eggs, rice, tofu, frozen meat, plum wine, ice cream, various snacks and Japanese frozen food delicacies. Rice from Hokkaido as well as Kagoshima Satsuma beef, to name only few. Nakamura is committed to strictly selecting high-quality fresh ingredients and providing high-quality daily necessities for customers.
Realord Group Announces 2022 Interim Results Recorded Revenue increased by 31.0% YoY to HK$580 million
(26 August, 2022 – Hong Kong)
Highlights:
Revenue increased by 31.0% to approximately HK$583.3 million.
Profit Attribute to Owners of the Group increased by 8.3% to approximately HK$51.3 million
The Latin America and Caribbean Segment recorded a segment result of approximately HK$576.2 million
The Financial Services Segment recorded a segment result of approximately HK$17.0 million
The Environmental Protection Segment recorded a segment result of approximately HK$12.0 million
Basic earnings per share was 3.56 cents.
Financial Highlights:
For the 6 months ended 30 June
HK$’000
2022
2021
Change
Revenue
583,297
445,408
+31.0%
Gross profit
137,783
132,439
+4.0%
Profit for the Period
204,089
53,115
+284.2%
Profit attributable to owners
51,275
47,356
+8.3%
Basic earnings per share (HK cents)
3.56
3.29
+8.2%
(26 August 2022 – Hong Kong) Realord Group Holdings Limited (the “Company”, together with its subsidiaries, the “Group”, stock code: 1196) is pleased to present the consolidated results of the Group for the six months ended 30 June 2022 (“Period” or “1H2022”). During the Period, the Group recorded a total revenue of approximately HK$583.3 million, representing a year-on-year growth of 31.0%; Gross profit was HK$137.8 million, representing a year-on-year increase of 4.0%; Profit and Profit attributable to owners for the Period was HK$204.08 million and HK$51.27 million respectively, representing year-on-year increases of 284.2% and 8.1% respectively; Basic earnings per share for the Year was HK$3.56 cent.
Business Review, Outlook and Corporate Strategy
The principal activities of the Group during the Period included the Segments of Property, Financial Services, the Environmental Protection (“EP”), Motor Vehicle Parts (“MVP”), Commercial Printing, Hangtag, Department Store and the Latin America & Caribbean (“LAC”).
The LAC Segment
The Group owns a project (“Grenada Project”) comprising 3 lots of land with admeasurement 450 acres situated at the Mt. Hartman area in the parish of Saint George, Grenada. Grenada Project involves the development of a mixed property project consisting educational facilities, apartments for student, residential properties, hotel and resort facilities, commercial development and shopping facilities and in a longer plan university establishment(s) and related amenities.
Through a Citizenship by Investment Programme of Grenada (“CBI Programme”), the Group is authorised by Grenada Government 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. The revenue generated from consultancy services under CBI programmer was HK$3.3 million in 1H2022 and the segment profit of LAC Segment was approximately HK$576.2 million, due to a fair value gain on the investment properties in Grenada.
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. The Group has further targeted to invest in four other Caribbean countries, namely Antigua and Barbuda, Saint Lucia, Saint Kitts and Nevis, and Dominica. The Group has identified four investment propositions to collaborate with the respective local governments to accelerate economic development of each country. These four areas include (i) the clean energy sector; (ii) the education sector; (iii) the tourism sector; and (iv) the retail sector
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 the Designated Caribbean Countries and the Republic of Panama in the near future. To this end, the Group has established a management and marketing team with offices in Beijing, Shanghai, Shenzhen and Hong Kong and established a local sales network in Vietnam, and the U.S. to implement the marketing strategies formulated for promoting the citizenship investment programmes and investment opportunities of each of the aforesaid countries.
The Financial Services Segment
The Financial Services Segment generated a revenue of approximately HK$63.1 million in 1H2022, representing a slightly decrease of 5.0% from the previous year. The decrease in revenue of the Financial Services Segment was mainly resulted from the decrease in services provided to its customers, including placing services and underwriting services for certain initial public offering (“IPO”) projects. The aforesaid effect was partially offsetted by the margin interest income, margin financing services and interest from the money lending.
During the Period under Review, the segment recorded a segment profit of approximately HK$17.0 million. The segment profit was improved by decrease in commission expenses by approximately HK$2.3 million due to the decrease in placing services and decrease in provision for impairment losses on the loan receivables.
The Financial Services Segment will continuously develop various investment products to meet the market’s demand. At the same time, the Segment is also proactively preparing to launch dark pools and US stock trading systems; and expand the sales and business teams to support our business development. Therefore, the Segment is expected to achieve stable business growth in the second half of 2022.
The EP Segment
With the steady growth of copper price and continuing increased scale and established suppliers’ network of during 1H2022, the EP Segment generated revenue of approximately HK$356.1 million, representing an increase of approximately 38.7%. The segment profit for the EP Segment in 1H2022 was HK$12.0 million.
Looking forward, amidst the market uncertainties, the Group will continue to exercise extreme cautions in the operations of the EP Segment with a view to controlling operating costs, minimising the credit risk exposures, and expanding the customers base of the segments by strengthening their competitive edges among their competitors. The Group is looking into alternatives such as deploying additional operation points in Kyushu, Japan to meet the economy recovery after the COVID-19 pandemic for sustain growth of the EP business.
Mr. Bryan Lin Xiaohui, Chairman of Realord Group said, “Grenada project has now initially achieved results and the Group believes the promising prospects in Latin America and the Caribbean Region. Thus we will actively utilise the market synergy to fortify our leading position of the Group in the region, in order to maximise the return to our Shareholders and Investors.”
