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HONG KONG, Nov 24, 2016 - (ACN Newswire) - A leading real estate developer of green technological properties - Modern Land (China) Co., Ltd. ("Modern Land," the "Company," together with its subsidiaries the "Group," HKSE stock code: 1107.HK) -- is pleased to announce that the Group was presented the "Listed Company of Best Growth Potential" at the 6th "China Securities Golden Bauhinia Awards" on 23 November 2016, Hong Kong.
 | | The 6th China Securities Golden Bauhinia Awards Ceremony was held in Grand Hyatt Hong Kong today. Modern Land was honored as the "Listed Company of Best Growth Potential". Vice President Mr. Wang Qiang (Left 4) received the award representing the Group. |
 | | Vice President of Modern Land, Mr. Wang Qiang said the Group would put unrelenting efforts in becoming an iconic brand in the environmental and technological real estate industry of China. |
The 6th China Securities Golden Bauhinia Awards Ceremony was held in Grand Hyatt Hong Kong on 23 November 2016. The awards were hosted by Ta Kung Wen Wei Media Group, and co-sponsored by the Listed Companies Association of Beijing, Hong Kong Chinese Enterprises Association, Chinese Financial Association of Hong Kong, Chinese Securities Association of Hong Kong, Hong Kong Institute of Chartered Secretaries and Hong Kong Securities Institute.
Vice President of Modern Land, Mr. Wang Qiang, attended the ceremony and said: "We feel highly honored to be named the "Listed Company of Best Growth Potential". This accomplishment endorsed by the professional organizing committee poses great inspiration for Modern Land's growth potential and development outlook. The award is another powerful evident of Modern Land's comprehensive strengths in shareholder's return, profit capability, financial security, consistent development, operation efficiency, corporate management, brand value and other aspects, which have been widely acknowledged by capital market and investors. The Group will put unrelenting efforts in becoming an iconic brand in the environmental and technological real estate industry of China in the future, while upgrading reputation and expanding influence in both domestic and overseas markets."
As a leading real estate developer of environmental and energy-saving properties, Modern Land has consistently poured itself to a homeland of "green +comfort + energy-saving + full-life cycle residential properties with mobile internet". Till now, the Company has developed property projects in Beijing, Shanghai, Suzhou, Taiyuan, Changsha, Foshan and other various cities in mainland China. Modern Land has already established an indicative iconic brand called MOMA in real estate industry of China. When creating an equally high comfortable level of living space, the energy consumption of MOMA products is much lower than other normal residential buildings in China. This contributes a lot to the Company's winning several three-star and two-star green building identity certificates in China. For the first half year of 2016, the Group recorded a revenue of approximately RMB4,271 million, representing a significant year-on-year growth of 118.6%. The profit for the period attributable to the owners of the Company recorded a year-on-year increase of 75.8% to approximately RMB500 million.
This year, Modern Land has not only committed to making property product innovation, but also strived for breakthroughs in financing channels. In October, the Company successfully issued USD350,000,000 green bonds due 2019 bearing interest at the rate of 6.875% per annum, which made it the first Chinese property developers listed in Hong Kong to issue such bonds. CICERO (Center for International Climate and Environmental Research - Oslo) provided distinguished Second Opinion report of Modern Land's green bonds while Fitch Ratings, an international credit ratings institution, assigned the green bonds a rating of 'B+' and Recovery Rating of 'RR4'. The interest rate of 6.875% achieved record low among those offshore notes issued by the Company, which efficiently lowered the Company's financing cost and paved way for future profits. The green bonds issue successfully reflected the Group's determination to capture opportunities arisen from green finance, and to serve as an example to its peers while encouraging more capitals to be committed into the Green Industry.
In fact, Modern Land's robust growth potential has gained popularity among powerful institutional investors. The Company introduced China Cinda (HK) Asset Management Co., Limited, a wholly-owned subsidiary of China Cinda Asset Management Co., Ltd. as its second largest shareholder this November and also introduced Great Wall Pan Asia International Investment Company Limited, a subsidiary of China Great Wall Asset Management Corporation as its strategic shareholder this September. Both China Cinda and Great Wall Asset are the Top Four Finance Asset Management Companies in China renowned for their considerable assets and multiple financing platforms. Relying on these cooperations, Modern Land can replenish its capital base, integrate resources from property and financial business and upgrade market competitiveness.
The China Securities Golden Bauhinia Awards are jointly organized every year by Ta Kung Wen Wei Media Group and other key regulatory and securities organizations and economists from both mainland China and Hong Kong, with an ultimate goal to assess, select and honor mainland China and Hong Kong listed companies and executives with tremendous achievements and outperforming contributions. Established in 2011, the Golden Bauhinia Awards has embraced its 6th ceremony this year.
Topic: Press release summary
Source: Modern Land (China) Co Ltd
Sectors: Daily Finance, Real Estate & REIT, Construct, Engineering
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From the Asia Corporate News Network
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