CENTRAL CHINA MANAGEMENT COMPANY LIMITED SUCCESSFULLY LISTED ON HKEX
Latest Update:
31 st May, 2021

On 31 May 2021, Central China Management Company Limited.  (" Central China "or the" Company "; Stock code: 9982.HK), a leading real estate agent construction company in China, was officially listed and started trading on the main board of the Stock Exchange of Hong Kong Limited (" HKEX ").

Central China was listed on the Hong Kong stock market in a spin-off and global offering. The total number of shares in the company was about 3.295 billion, of which about 10% were offered globally, totaling 328,172,000 shares. Each share offered was eventually sold at HK $3.00. After deducting the underwriting fees and commissions payable in connection with the global offering and estimated total expenses, the company's net proceeds from the Global Offering are estimated to be approximately HK $916.18 million. The company's public offering in Hong Kong was well received with valid applications amounting to about 4.99 times the total number of shares available for the initial offering; The number of valid applications received for the international offering was approximately 1.72 times the initial number of shares available for the offering. The final number of shares offered in the Hong Kong public offering and the international offering was 32,818,000 and 295,354,000 respectively, representing 10% and 90% of the total initial number of shares available for sale under the global offering prior to the exercise of any over-allotment rights.

As the financial pr consultant team of the company, BDA Horwath participated in the whole process of the company's listing, including the maintenance of domestic and foreign media relations, the design and production of listing publicity materials, and the holding of listing celebrations, helping the company to be listed in Hong Kong.

In contrast to traditional real estate developers, Central China adopts an asset-light business model and does not have to bear the cost of land acquisition and construction. Therefore, Central China is in a favorable position in China's real estate agent construction industry and can rapidly expand its operation scale. In 2020, the sold gross floor area of projects under the company's management was approximately 5.7 million square meters, and the cagR of total contract sales value between 2017 and 2020 was 71.5%, both of which ranked first among all peers in China. With henan province as its strategic focus, the company has successfully replicated its business model to Hebei, Shanxi, Shaanxi, Xinjiang, Anhui and Hainan provinces and autonomous regions by using its own perfect platform. As of May 11, 2021, the company has 234 projects in 107 cities in seven provinces and autonomous regions in China, with a gross floor area of 28.4 million square meters.

Since its establishment, Central China has accumulated rich experience and professional knowledge in real estate agent construction services. The company is entrusted by project owners to manage real estate development projects throughout the development process, providing professional services ranging from project study and approval, project design and planning, construction and cost management, promotion and sales management to the delivery of the final property to the ultimate buyer. In addition, the company has established a network of qualified contractors and suppliers throughout the value chain of real estate development, which can not only ensure and improve the quality of the projects under management, but also enhance the quality brand of JIanye, which is widely recognized by project owners and ultimate buyers.

Mr. Baosen Hu, Chairman and Non-Executive Director of Zhongyuan Construction Company Limited, said: "The successful listing of Zhongyuan on the Hong Kong stock Market today is a milestone in the company's development and reflects the global investors' recognition of our strategic model, growth potential and management team. We are proud of this and very grateful for the continued trust and support of our investors. Based on the new starting point, we will continue to strengthen the business penetration in Henan Province, and expand to the "Big Central Plains" area, at the same time, enrich the service types, improve the quality of products and services, enhance the market recognition of "Jianye" brand, to achieve the vision of "joint construction and development".

About Central China Management Company Limited.

Central China Management Company Limited. (" Central China "or the" Company "; Stock code: 9982.HK) is a leading real estate agent construction company in China with a strategic focus on Henan Province. In 2020, the company's total gross floor area sold under the managed catalog was approximately 5.7 million square meters, and the cagR of total contract sales value from 2017 to 2020 was 71.5%, both of which ranked first among all peers in China. With the famous "and thus" brand, unique light asset business model, professional real estate construction service network, perfect quality contractors, suppliers, and a set of standardized, high quality and continuously optimize updates "and thus standards" as a solid foundation of the business, the central plains and thus continue to help the project to create a higher value, To further consolidate the position of the leading real estate agent construction company in China.

Latest Update:
31 st May, 2021