2024-05-07 28Hse Editor
In the first quarter of this year, the residential property market in Hong Kong saw a small boom early, and residential property transactions continued to be booming. Huang Jianye, chairman of Midland Group (1200), said yesterday that he would benefit from the influx of hot money, the continued low interest rate environment and the "new Hong Kongers". The market has begun to enter the market, and the boom is showing signs of continuation. However, property prices are always affected by factors such as the economic environment. If customs clearance is not possible during the year, the annual property price is expected to record an increase in units of about 8%. If the customs clearance is successful during the year, the increase can only be achieved. Up to 10% or more. He also believes that the government should reduce the burden of selling to the public to facilitate the exchange of flats. He also suggested an orderly increase in land supply.
Huang Jianye pointed out that although the overall market conditions have improved significantly, it is still necessary to be careful about the emergence of "gray rhinos." Vice Premier Han Zheng pointed out earlier that if the housing problem is not resolved, it will harm the interests of all Hong Kong citizens. The Financial Secretary Chen Maobo also proposed a review of the rates system, including considering the introduction of a progressive system to warn Hong Kong that property price control measures may appear.
Appeal to reduce spicy and suggest an orderly increase in land supply
He emphasized that the direction that "property is used for housing and not for speculation" is absolutely correct, but Hong Kong is now far away from "speculation." Given the current economic situation in Hong Kong, property prices have not yet risen, and the property market does not have any "hot" conditions. Instead, it should reduce the heat so as to make it easier for the public to exchange flats. It is also recommended to increase land supply in an orderly manner to alleviate the problem of "demand oversupply" of housing. In addition to long-term reclamation, short- and medium-term measures include making good use of existing land resources and Speed up the conversion of agricultural land and land premiums. The government should put forward an effective supply increase plan as soon as possible to help Hong Kong people buy their homes and settle down.
Benefited from the government's "Employment Guarantee Program" subsidy of more than 200 million yuan, and the decline in branch rents, Midland Group yesterday announced its 2020 annual results to "turn losses into profits". It recorded a net profit of 132 million yuan, an EPS of 18.36 sen, and the overall rent. Expenses were reduced by 8.5%, and the rent of newly renewed branches was reduced by 30%, and no interest was paid.
Benefited from "guaranteed employment" performance turned losses
Midland Group’s revenue last year was 4.98 billion yuan, an increase of 2% year-on-year. During the period, staff costs remained around 2.45 billion yuan. However, during the period, the “other income” item increased sharply by 84 times, from 2.452 million in 2019. Yuan, greatly increased to 209 million yuan. According to performance, under the government's "Employment Guarantee Program", the group received approximately 207 million yuan in subsidies, which enabled Midland to "turn losses into profits" last year.
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