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Asia Standard Holdings transforms its financial industry, achieving revenue of RMB 12.5 billion in 2019

Asia Standard Holdings transforms its financial industry, achieving revenue of RMB 12.5 billion in 2019
On April 29th, Asia Standard Holdings disclosed the 2019 annual report. The report pointed out that the company gradually realized revenue of 12.5 billion US dollars and increased by 0.79%; net profit attributable to shareholders of listed companies10.9.4 billion, an annual increase of 17.62%.In January 2020, with the approval of the China Securities Regulatory Commission, the industry classification of Asia Standard Holdings was officially changed from “real estate” to “other financial industry”, a sub-industry of “financial industry”.The divestiture of real estate and financial development in 2019 is the focus of Asia Standard Holdings.Asia Standard Holdings’ financial sector represented by Minsheng Securities, Minsheng Trust and Asia Pacific Property & Casualty “Troika” achieved revenue of 96 in 2019.2.9 billion, an annual increase of 30.18%; achieved a net profit of 15.9.4 billion, an annual increase of 25.26%.The revenue of the financial sector accounted for 77% of the total revenue, and the revenue of the financial sector exceeded the real estate business for two consecutive years.In February 2020, Minsheng Fund, a subsidiary of Minsheng Securities, was approved by the China Securities Regulatory Commission to set up, and Oceanwide ‘s integrated financial services sector added public fund business.In terms of real estate, at the beginning of 2019, Asia Standard Holdings sold the No. 1 plot of Beijing Ocean Standard International Residential District and the Shanghai Dongjiadu Project. Ocean Standard Holdings’ interest-bearing debt scale project has dropped significantly after the completion of the sale.On the evening of March 29, Asia Standard Holdings made another move in the land stripping operation. The announcement showed that Oceanwide Center LLC and 88 First Street SF LLC, wholly-owned subsidiaries of Asia Standard Holdings, and the non-affiliated third party Hony Capital Mezzanine Fund 2019 Limited ((Hereinafter referred to as “Hony”), the “Framework Agreement” signed, intends to transfer the relevant overseas assets owned by Hony on First Street and Mission Street in San Francisco, the United States, with a total transaction amount of 1.2 billion US dollars, of which 700 million US dollars at the time of deliveryPayment, the remaining 500 million US dollars as profitability funds.As the focus of development, Asia Standard also tried to split the Wuhan Central Business District. On January 15, 2018, Asia Standard Holdings suspended trading and planned to implement a major asset reorganization. The assets to be sold are all wholly-owned domestic assets held by Asia Standard Holdings.Subsidiary Wuhan Central Business District Construction Investment Co., Ltd. (hereinafter referred to as “Wuhan Company”, renamed as Wuhan Central Business District Co., Ltd. on July 25) equity and overseas wholly-owned subsidiary Zhongfan Group Co., Ltd. (hereinafter referred to as “China”Pan Group”) related assets.The initial reorganization plan was re-successful. Nearly three months later, Oceanwide Holdings terminated the reorganization and resumed trading on the grounds that the relevant conditions for advancing the reorganization were not yet mature.Today, Wuhan Central Business District in Asia Standard Holdings’ real estate business has not been divested.Asia Standard Holdings stated that Ocean Standard Holdings concentrated its resources on the development, construction, sales and operation of domestic real estate projects with the Wuhan Central Business District as the core, and continued to promote the real estate business from development and sales to “investment, development and operation”.Transitional upgrade.Sauna, Ye Wang Zhang Yanbian editor Yue Caizhou proofreading Li Shihui