GREENTOWN CHINA HOLDINGS LIMITED Greentown China Operation Updates
November 2023
GREENTOWN CHINA HOLDINGS LIMITED
绿城中国控股有限公司
（Stock Code: 03900）
1. Company Strategy
About the Company
Greentown China was established in 1995 and is a leading provider of high-quality housing product development
and comprehensive living services in China, leading the industry with high-quality product and service quality.
In July 2006, Greentown China was listed on the Hong Kong Stock Exchange (03900. HK) and successively introduced Wharf and CCCG as strategic shareholders. In December 2014, CCCG became the largest shareholder of
Greentown China.
Greentown China has adhered to the development strategy of "quality first" and developed the upstream and downstream of the real estate business to form three major segments, namely asset-heavy,asset-light and "Greentown+". Based in Zhejiang, the Company focuses its attention on core areas as well as cultivating footprints in first- and second-tier cities and high quality third- and fourth-tier cities.
Leveraging its superior development quality, rich land bank, highly effective organizational structure and high-calibre management team, Greentown China has established its brand image in all the cities it operates. The rich experience Greentown has accumulated in developing numerous high-quality projects together with its outstanding operational capabilities has served to provide strong momentum for its sustainable development.
2
Shareholding Structure
CCCG | Wharf | Founder | Others | |||
Mr. Song Weiping | ||||||
28.422% | 22.055% | 40.95% | ||||
8.573% | ||||||
Greentown China
（03900. HK）
- As at 30 June 2023, CCCG, Greentown China's single largest shareholder, was interested in 28.422% of the total issued share capital and financially consolidates the Company.
3
Organizational Structure
The Company developed the upstream and downstream of the real estate business to form three major segments, namely asset-heavy,asset-light and "Greentown+". The asset-heavy segment focuses on the real estate development business, and the asset-light segment strengthens the project management business, while the "Greentown+" segment provides strong support for both the asset-heavy and asset-light segments by strengthening the industry integration of the upstream and extending the scope of services of the downstream.
4
Strategic Development
Strategy Upgrade and Tactics Refinement
"4 major changes" in the industry:
- Development stage
- Supply and Demand
- Market structure
- Housing functional requirements
Quality benchmark among the Top10
Best understanding of customers Best understanding of products
Product Quality
Foundation
Comprehensive High-Quality & Sustainable Development
5
Effective Implementation
Operating resultsas orientation
Profitability improvementas target
Secured cash flowas bottom line
Steady
expansion
with precise
investment
Refined
marketing with
balancing
quantity and
price
Exquisite
product
prioritizing
customer
satisfaction
Solid financing
with reducing
costs
Lean operation
with agility
and
effectiveness
Diligent team
and empowered
organization
6
2. Operation Updates
Effective Marketing Strategy to Secure a Solid Industry Position
9M Total Sales of RMB192.3bn, Ranking TOP 6
Self-investment project sales of RMB130.7bn, ranking TOP 9;
Atri. Sales of RMB83.5bn, ranking Top 9 (Top 10 for the first time)
Continuous increase | Focus on Core cities | cash collection | ||
of attri. ratio | ||||
64% | Tier-3&4 | Tier-1 | ||
58% | 14% | 14% | ||
54% | ||||
Tier-2 | ||||
2021 | 2022 | 9M2023 | 72% | |
100%+
Sell-through rate of
newly-launched
80%
8
Focused and Sniper-style Investment while Expanding with Precision and Efficiency
9M newly-added saleable value of RMB106.8bn, Ranking TOP 4
29 new projects with a total GFA of 4.17 mn sqm and attr. Land cost of RMB50.7 bn1
Core segments
in core cities
Attri. ratio increased1
Suzhou/Dalian | Zhejiang |
/Tianjin 4% | Tier-3&4 |
Tier-127%
Beijing 6%
Tier-260%
Ningbo 7%
"Sniper-style invt." in high quality tier 3&4 cities in Zhejiang Province
13% | 83% | |||
Hangzhou | 69% | |||
38% | ||||
58% | ||||
Xi'an | ||||
11% | Shanghai | 2021 | 2022 | 9M2023 |
21% |
Downtown Jiaxing / Taizhou Jiaojiang /
Shaoxing Shangyu etc. | （By saleable value ） |
Sales conversion rate of
newly added projects
45%
Note: 1. By Sep 30, 2023 | 9 |
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Disclaimer
Greentown China Holdings Limited published this content on 01 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2023 01:00:45 UTC.
