Sinic Holdings Becomes an Eligible Stock of Shenzhen-Hong Kong Stock Connect
HONG KONG, March 17, 2020 /PRNewswire/ -- Shenzhen Stock Exchange announced that Sinic Holdings (Group) Company Limited (2103.HK) (the "Company") had been incorporated into the eligible stocks list of the Shenzhen-Hong Kong Stock Connect Scheme today. The incorporation of Sinic is a result of the quarterly review of the Hang Seng Family of Indexes announced on 22 February.
Hong Kong Stock Connect is a collaboration program between Hong Kong Stock Exchange and Shenzhen Stock Exchange. Through their local exchange and clearing system, mainland China and international investors can trade securities from the other party's stock market. The program was launched in November 2014 and currently covers more than 2,000 eligible stocks from Shanghai, Shenzhen and Hong Kong. This time around, the adjustment resulted in the inclusion of 21 stocks into the Hong Kong Stock Connect Scheme. Sinic Holdings was incorporated into the Hang Seng Index and the Hong Kong Stock Connect only three months after its launch, which manifests the capital market's high recognition of its investment value and future development.
Established nine years ago, Sinic Holdings was listed on the Hong Kong Stock Exchange last November, the youngest property company to be listed. As a new real estate developer in Hong Kong, the Company has now expanded its business to the Yangtze River Delta Economic Zone, Guangdong-Hong Kong-Macao Greater Bay Area, core cities in the central and western China, and other regions with development potential in China. Also, the Company attaches importance to quality throughout its entire property development process, where it designs and implements for each of its property projects control standards and procedures, including but not limited to design, procurement, construction and delivery. With its unique brand position and strategic plans, the Company is widely sought-after in the capital market, which proves its huge potential.
Looking ahead, Sinic will strive to achieve its strategic development where it is "rooted in Jiangxi with nationwide plans" by consolidating its current market position and further expanding its business nationwide. As the real estate industry rebounds and capital flows southwards, the Company is to capture the attention of more investors in the long term.
About Sinic Holdings (Group) Company Limited
Sinic Holdings (Group) Company Limited is a large-scale and comprehensive property developer in the PRC, focusing on the development of residential and commercial properties. Through nearly 10 years of operations, the Company has successfully established a leading position among residential property developers in Jiangxi Province and expanded its property development business into the Yangtze River Delta Region, the Greater Bay Region and the Central and Western China Core Cities and Other Regions with High-Growth Potential. In 2019, in terms of comprehensive property development ability, it is ranked 31st among the top 100 property developers in the PRC according to CREIS, and ranked 39th among the top 500 property developers according to the China Real Estate Association. The Company was recognized as one of the China's Top 50 Real Estate Developers jointly by the China Real Estate Industry Association, Shanghai Yiju Real Estate Research Institution and China Real Estate Appraisal in 2018 and 2019, and one of the China's Top 100 Real Estate Developers - Growth Top 10 by the China Real Estate Top 10 Research Committee in 2018 and 2019.
The Company residential properties can be categorized into three major series, namely, its "Wan" Series, the "Yuan" Series and the "Yue" Series, which target first-time home purchasers, home upgraders and extended families or high-income households, respectively. As of July 31, 2019, the total land bank attributable to the Company amounted to approximately 15.0 million sq.m., and the Company had 110 projects at various stages of development.