Gree Real Estate Co.Ltd(600185) sold the equity of the bank and recovered a sum of cash. On March 3, Gree Real Estate Co.Ltd(600185) ( Gree Real Estate Co.Ltd(600185) ) announced that Gree Zhisheng, a wholly-owned subsidiary, plans to transfer its 2.5% equity of Guangdong Huaxing Bank Co., Ltd. to Zhuhai duty free enterprise group Co., Ltd. at a transfer price of 363 million yuan. After the completion of this transaction, Gree Zhisheng will no longer hold the equity of Huaxing bank.
Industrial and commercial information shows that Huaxing bank was established in 1997 with Zhou Zerong as the legal person and a registered capital of 8 billion yuan. By the end of the third quarter of 2021, Huaxing bank had a total of 8 billion shares and 3659 shareholders. The largest shareholder was Qiaoxin group, with a shareholding ratio of 20%; Gree Zhisheng ranks the 10th largest shareholder with a shareholding ratio of 2.5%. Zhuhai tax exempt shareholders are Zhuhai SASAC and Zhuhai Urban Construction Group Co., Ltd.
According to the announcement, in 2019, 2020 and the first three quarters of 2021, the revenue of Huaxing bank was 5.874 billion yuan, 7.376 billion yuan and 6.746 billion yuan respectively, and the net profit was 2.036 billion yuan, 2.228 billion yuan and 2.594 billion yuan respectively. By the end of the third quarter of 2021, the total assets of Huaxing bank were 355.64 billion yuan.
Gree Real Estate Co.Ltd(600185) 2015 separated from Gree Group. At present, the major shareholder is Zhuhai Investment Holding Co., Ltd. under Zhuhai SASAC, with a shareholding ratio of 43.57%. The company’s main business areas are Zhuhai and other places. According to the financial report, in the first three quarters of 2021, Gree Real Estate Co.Ltd(600185) main business income was 6.169 billion yuan, up 45.16% year-on-year; The net profit attributable to the parent company was 641 million yuan, a year-on-year increase of 7.26%. However, the gross profit margin of the company decreased from 37.41% in the middle of 2021 to 28.58%.
Gree Real Estate Co.Ltd(600185) is about to pay off a debt. According to the data, “19 Gedi 01” needs to repay 400 million yuan on March 18. The bond is rated as “AA”, which is slightly lower among 1034 bonds in the same period.
Gree Real Estate Co.Ltd(600185) is at the middle level of the industry, and the trading area is not large. By the end of 2020, the area of land to be developed held by the company in Zhuhai, Chongqing and Sanya was 50000 square meters, 388000 square meters and 33000 square meters respectively.
Not long ago, Gree Real Estate Co.Ltd(600185) also announced that it plans to cancel 12.26 million shares, the total share capital will be changed from 1.945 billion shares to 1.892 billion shares, and the registered capital of the company will be changed from 1.945 billion yuan to 1.892 billion yuan.
