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Solana On the Verge of Major Price Movement

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc....

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Developing Industry 5.0 Solutions For Regenerative Agriculture and Sustainable Manufacturing

Detroit, Michigan – (BUSINESS WIRE) – Heartland has revolutionized plot mapping technology to drive efficiency for farming operations across the world. Their ReMap technology...

Philanthropic Project, Impact Women NFTs, Launches to Combat Domestic Violence in Brazil

Florianópolis, Brazil, Apr 2, 2022 - (ACN Newswire) - Impact Women NFT, a philanthropic project displaying exquisite artworks handmade by a talented artist, has announced the launch of its NFT project. Aimed at combating domestic violence in the previously mentioned South American country, these beautifully crafted NFTs were created by renowned, talented, and award-winning illustrator Manu Cunhas.

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Designed by Brazilian fintech to fight the scourge of domestic violence and abuse of women, Impact Women NFT will raise funds for non-profit organizations to take a stand against women's abuse on all levels.

Current statistics show that domestic violence is at an all-time high. Brazil sits fifth in the ranking of homicides globally; one woman gets raped every eleven minutes. Five hundred and three women suffer aggression every hour, one woman gets killed every two hours, and five beatings occur every two minutes.

Impact Women NFT is fighting to put an end to these crimes.

Profit Shared to Non-profit Organization, Artist, and Project Producer

Split into phases, the first one comprising 20 excellent, awe-inspiring, and elegantly designed artworks of remarkable and high-impact women in history, each of these NFT auctions will greatly benefit non-profit organizations. The goal of the first phase is to raise 30 ETH, ten in auction mode starting at the price of 0.15 ETH and ten in 50 units for a fixed fee of 0.05 ETH.

Impact Women NFT has hand-picked eight exciting and industrious non-profits aggressively fighting violence against women in Brazil. 70% of profits garnered from these NFTs sales will be set aside for organizations, 12% to support Manu Cunhas, another 12% for Doare—the project producer and social enterprise company—and 6% for carbon credits through MOSS.

The campaign will end on May 31st, 2022, and Impact Women NFT will offer rewards and surprises like special parties and airdrops in the metaverse.

A project where art meets philanthropy, Impact Women NFT, will share stories of amazing women that have changed society. The founding team selects ten Brazilian and international women to show respect and admiration for the work they have put in.

An Ambitious Roadmap

Built on sustainability and longevity, Impact Women NFT has introduced a viable and strategic roadmap comprising detailed future events. Divided into separate phases, Impact Women NFT plans to run a decentralized autonomous organization [DAO], create and launch a native token, and a non-profit crypto fund to support organizations combating domestic violence and other forms of abuse against women.

Additionally, Impact Women NFT will continue to create and release amazing, unique, well-designed, and aesthetically pleasing artworks to support life-changing non-profits.

About Impact Women NFT

Impact Women NFT is a philanthropic project that displays magnificent and well-crafted artworks made by Manu Cunhas. Aimed at combating domestic violence, Impact Women NFT will fund existing non-profits championing and empowering women in the country and beyond.

Social Links
Twitter: https://twitter.com/impactwomen_nft
Instagram: https://www.instagram.com/impactwomen.nft
Telegram: https://t.me/impactwomenNFT
Discord: https://discord.gg/QdGktzSJyg

Media Contact
Project Name: Impact Women NFT
Contact: Caroline Alencar, Marketing Director
Email: info@impactwomen.org
Website: https://impactwomen.org/

SOURCE: Impact Women NFT



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.com

Solargiga Turns Around to Profit in FY2021 With Net Profit at RMB$193.2 Million

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HONG KONG, Mar 30, 2022 - (ACN Newswire) - Solargiga Energy Holdings Limited ("Solargiga" or the "Group"; HKEX: 757), a leading vertically integrated enterprise that manufactures monocrystalline photovoltaic products for generating solar energy in the PRC, announced today its annual results and that it turned around to profit for the year ended 31 December 2021.

Driven by increase in sales of its major products, photovoltaic modules and monocrystalline silicon wafers, plus the climb in average selling price of silicon wafers, the Group's revenue increased by 17.4% to RMB7,105.0 million, with total external shipment volume up 7.8% year-on-year. It achieved a significant turnaround with profit attributable to owners of the parent at approximately RMB193.2 million when compared with a loss recorded last year, mainly due to substantial increase in its high-efficiency production capacity and economies of scale, which helped widen its overall gross profit margin.

During the year under review, as a result of the increase in sales of monocrystalline solar wafers which boast a higher profit margin, the Group's gross profit rose by 50.1% to RMB879.1 million, with gross profit margin improved to 12.4%. As such, earnings before interest, taxes, depreciation and amortisation ("EBITDA") of the Group surged by 189.7% to RMB799.7 million

In 2021, the Group continued to invest in and upgrade existing production capacity which, together with the economies of scale reaped, saw its operating profit increase significantly, with net cash flows from operating activities up by a substantial 82.8% to RMB1,030.4 million in 2021 (2020: RMB563.5 million).

Business Review

Silicon ingots and wafers business

During the year under review, since monocrystalline products have advantages over multicrystalline products in photovoltaic power generation, the market share of monocrystalline products continued to increase rapidly. With most of the Group's monocrystalline silicon ingot products reserved for internal use, the external shipment volume of them was 414.4 MW (2020: 710.8 MW), whereas that of monocrystalline silicon wafers increased significantly to 4,087.0 MW (2020: 3,145.8MW), an over 30% climb against the previous year.

Apart from traditional monocrystalline P-type products, the Group also manufactures monocrystalline N-type products with higher conversion efficiencies. As TOPCON cells and heterojunction HJT cells with monocrystalline N-type silicon wafer base are expected to become the mainstream next-generation photovoltaic cells, to capture that trend, the Group managed to accomplish technical breakthrough and product marketisation of monocrystalline N-type silicon ingot and has started supplying N-type silicon ingots and wafers to domestic and foreign customers.

The Group's production base for monocrystalline silicon ingot and monocrystalline silicon wafer in Qujing, Yunnan, the PRC, started mass production during the year. As the facility enjoys various local government preferential investment policies, and more importantly, the decrease in local electricity cost, being the major manufacturing cost of ingot-pulling, of more than 50% compared to the major production base in Jinzhou, Liaoning. That can help improve the Group's overall gross profit margin. Therefore, the Group has continued to expand the production capacity there to meet the rapid growth of customer demand. As at year end, the annual production capacity of monocrystalline silicon ingots and monocrystalline silicon wafers of the facility were 4.3 GW and 2.5 GW respectively.

Module business

To concentrate resources on developing more niche products, the Group adjusted its operating strategy, ceasing manufacturing solar cells last year and moved its focus onto upstream monocrystalline silicon wafers (ingot) and downstream modules as its two major products.

During the year, the Group continued to expand module production capacity in Yancheng, Jiangsu, to meet the needs of module customers and further strengthen economies of scale. As at year end, the module production capacity of Yancheng, Jiangsu reached 5.4 GW, out of the 7.2 GW total of the Group. The production base also enjoys various local government preferential investment policies, plus the Group can take advantage of significantly lowering the investment in capital expenditure by renting plant buildings. Moreover, the area around the Yangtze River Delta is where raw and auxiliary materials that the Group needs agglomerate, meaning the Group has advantage in procurement.

Excellent product quality and price competitiveness allow the Group to secure stable and sizeable customers. Modules were mainly sold externally to large state-owned enterprises and international multinational enterprises, such as State Power Investment Corporation ("SPIC"), SHARP Corporation ("SHARP"), Xinyi Glass Holdings Limited and Xinyi Solar Group and CGN New Energy Holdings Co., Ltd., etc. The Group has been SHARP's largest processing service partner for photovoltaic module for nine consecutive years and has been cooperating in continually expanding module sales to foreign customers.

Prospects

The Group embraces the "one base, two wings" strategic layout, with its base in Jinzhou, Liaoning, and Qujing in Yunnan and Yancheng in Jiangsu as its two wings. The layout has given it low-cost and high-efficiency productivity advantages and become one of the driving forces for the gross profit margins growth of its monocrystalline silicon ingots and silicon wafers. It expects that, by the end of 2022, the annual production capacity of monocrystalline silicon ingot and silicon wafers in Qujing, Yunnan will be increased to 6.0 GW and 3.6 GW, representing 81% and 49% of the Group's total annual production capacity of the products, respectively. On top of boosting the Group's gross profit margin, the layout will also enable the Group to fully unleash its technological advantages and achieve progress.

Regarding module production capacity, by the end of 2022, the annual production capacity of the plant in Yancheng, Jiangsu will increase to 6.4 GW, taking the Group's overall annual module production capacity to 8.2 GW.

In addition, the Group has been actively expanding the end-user power plants construction and application business, which has not only driven sales of module products from bottom-up, but also it will spread the profit of construction and operation of photovoltaic system businesses, helping improve the Group's overall profitability. Apart from having internal photovoltaic power plant system established and run by its wholly owned subsidiaries, the Group also plans to form joint ventures with companies from other industries to develop BAPV and BIPV business.

Mr Tan Wenhua, Chairman of Solargiga, said, "In 2022, newly installed photovoltaic power generation capacity is expected to continue to grow rapidly worldwide. That plus supportive government policies will see medium- and long-term demand for photovoltaic products climb robustly in the PRC and the global market. Marketisation will continue for photovoltaic products and the industry will move away from policy subsidies towards self-sustainable development. Technological progress will help reduce power generation cost conducive to achieving grid parity, and in turn will draw explosive demand growth.

"With proven business strategy in place, we are well prepared to apply our existing advantages to capture the tremendous opportunities in the photovoltaic industry in the good times ahead, and also help China achieve her 'carbon neutrality' goal by 2060 and contribute to sustainable development of the world."

About Solargiga Energy Holdings Limited (HKEX: 757)
Solargiga Energy Holdings Limited is one of the leading manufacturers of solar energy monocrystalline photovoltaic products in the PRC. Through advantages in vertical integration, the Group focuses on manufacturing monocrystalline silicon wafers and photovoltaic modules, and designing and installing photovoltaic systems. The majority of the Group's products are currently sold to domestic state-owned enterprises and large multinational corporations with stringent quality requirements.



Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comSolargiga Energy Holdings Limited ("Solargiga" or the "Group"; HKEX: 757), a leading vertically integrated enterprise that manufactures monocrystalline photovoltaic products for generating solar energy in the PRC, announced today its annual results and that it turned around to profit for the year ended 31 December 2021.

Jinchuan International’s 2021 Profit Attributable to Shareholders Surges 303% to US$120.5 Million

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HONG KONG, Mar 29, 2022 - (ACN Newswire) - Jinchuan Group International Resources Co. Ltd., (the "Company" or "Jinchuan International"; together with its subsidiaries, the "Group"; stock code: 2362), Jinchuan Group's flagship platform for overseas mineral resources development, has announced its audited annual results for the year ended 31 December 2021 (the "Year").

Highlights of 2021 Annual Results
-- Revenue amounted to US$831.9 million, up by 25.2% year-on-year. Revenue from mining segment was US$620.6 million and revenue from the trading of mineral and metal products was US$211.3 million
-- Gross profit increased considerably by 188% to US$251.7 million
-- Profit attributable to shareholders soared by 303% to US$120.5 million
-- During the Year, the Group produced 61,260 tonnes of copper and 3,379 tonnes of cobalt and sold 57,001 tonnes of copper and 2,617 tonnes of cobalt
-- Cost of sales of the mining business declined 16%, attributable to the Group's stringent control of costs

During the Year, the Group recorded revenue of US$831.9 million, a year-on-year increase of 25.2%, which was attributable to the rise in the benchmark copper and cobalt prices. Total revenue from mining operations was US$620.6 million, a year-on-year increase of 24.7%. Revenue from the trading of mineral and metal products segment amounted to US$211.3 million, a year-on-year increase of 26.6%. With costs kept under control, the Group's gross profit rose considerably by 188% to US$251.7 million. Moreover, as copper and cobalt prices surged in 2021, the Group's gross profit margin grew significantly to 30% for the Year from 13% in 2020.

Profit attributable to shareholders of the Company soared by 303% year-on-year to US$120.5 million. Earnings before interest (net finance costs), income tax, depreciation and amortization and impairment loss ("EBITDA") amounted to US$311.5 million, up by approximately 121.8%. The Group maintained strict control of costs during the Year. As a result, cost of sales of the mining operations decreased by 16% to US$314.9 million.

In 2021, the Group produced 61,260 tonnes of copper and 3,379 tonnes of cobalt, and sold 57,001 tonnes of copper and 2,617 tonnes of cobalt. Sales of copper and cobalt amounted to US$514.0 million and US$106.6 million respectively. During the Year, the Group's copper production volume dropped, primarily as a result of lower ore feed grade from Ruashi Mine and Kinsenda Mine and lower copper recovery rate. Similarly, the cobalt production volume declined, mainly due to the lower grade of cobalt ore mined and lower cobalt recoveries. Nevertheless, driven by higher copper and cobalt prices, the Group recorded a significant increase in revenue, which was able to offset the impact of lower sales volume.

Continuous expansion of core businesses, progress achieved by all projects
As a multinational mine developer and operator, the Group will pay close attention to local government policies and the economic environment, and continue to monitor all factors that may cause market fluctuation, so as to ensure the Group is well prepared to respond timely to any market changes.

The Group's short-term focus will be on the construction of the Musonoi copper-cobalt mine in Kolwezi, the Democratic Republic of the Congo. During the Year, construction of the mine was progressing as planned. The Group has also signed a facility agreement with China Development Bank in relation to the construction of the Musonoi project. At the same time, the Group will continue its exploration work in the sulphide zone below the oxide zone in Ruashi Mine, deeper region of the Musonoi Project, and conduct infill drilling at Kinsenda Mine. In addition, the Group successfully leased out the mining assets of Chibuluma under a finance lease. The Group recorded a royalty income of approximately US$2.4 million under the finance lease agreement.

Actively seized market opportunities amid rising copper and cobalt prices
Copper price is susceptible to swings in global policies and economic uncertainty. LME copper price reached a historical high of US$10,720 per tonne in May 2021, and closed at US$9,692 per tonne at the end of 2021, representing a gain of 25.2% compared to 31 December 2020 and a gain of 109.9% compared to the lowest point in 2020. With copper price surging, the Group commenced the construction of Ruashi Mine's magnetic floatation plant aiming to treat low-grade oxide and sulphide materials. This allows the Group to better utilise Ruashi Mine's low grade stockpile while potentially extending Ruashi's life of mine. The new plant was successfully launched in December 2021.

With the availability of COVID-19 vaccines, social and economic activities have recovered. Copper, as a critical commodity used in construction and infrastructure, will benefit from the economic recovery. Moreover, countries around the world have initiated the strategic target of carbon neutral. Copper will be used more frequently in areas including solar, wind, power storage, new energy and distribution with the enhence of carbon neutral era, the demand for copper will further increase. Given its strong fundamentals, copper price is expected to stay strong after COVID-19 is contained.

With regard to the cobalt market, cobalt price gradually rebounded during the Year, and continues to rise in 2022. The price of cobalt reached US$38.7 per pound in mid-March 2022. Demand for cobalt is subject to the manufacturing of alloy and industrial chemical and for the manufacturing of batteries. As major auto makers were launching more electric vehicle ("EV") models in 2021, Ford estimates that 40% of motor vehicles sold will be EVs by 2030 and Bloomberg estimates that half of motor vehicles sold will be EVs by 2040. Analyst forecasts cobalt demand to expand at a compound annual growth rate of 7% to 2030.

The Group said, "We will seize the favorable opportunities to develop new energy and new materials and keep expanding the major business while considering to extend the industrial chain appropriately, and expand the Group's product scope. Meanwhile, we plan to further introduce strategic investors and optimize the shareholders structure, strengthen management, reduce costs and increase efficiency, and enhance the economic scale of existing projects. Furthermore, we will actively integrate the Group's overseas resources and expand our asset scale. We will also continue to develop new businesses, and in particular, look for opportunities in southern Africa to generate synergies, given its close proximity to the Group's existing mines. In the future, we will pursue continuous development and innovation, with the aim of becoming a world-class mineral corporation and creating greater value for our shareholders."

About Jinchuan Group International Resources Co. Ltd (Stock Code: 2362. HK)
Jinchuan International is a Hong Kong listed company under Jinchuan Group Co., Ltd for the purposes of accelerating the establishment of the mining group's multinational operational strategy and elevating Jinchuan Group's global investing, financing and operating capabilities. By virtue of Hong Kong's advantages as an international financial and trade center, and through the Company's focus on an internationalized operating strategy, the Company has established itself as the flagship platform for Jinchuan Group to develop its overseas non-ferrous metal mining business. The Company owns large-scale mines in Africa with high-quality copper and cobalt metal resources. It engages in the production and trading of basic metal resources. The Company's main mine assets include the Ruashi and Musonoi copper-cobalt mines, high-grade Kinsenda copper mine, Chibuluma South Mine, and Lubembe project.
Website: http://www.jinchuan-intl.com/tc/

About Jinchuan Group Co., Ltd* ("Jinchuan Group")
Jinchuan Group Co., Ltd*, founded in 1958, is a state-owned enterprise with its majority interest held by the People's Government of Gansu Province. Jinchuan Group specializes in mining, concentrating, metallurgy, chemical engineering and further downstream processing. Jinchuan Group is widely recognized as a renowned mining corporation and is the third largest nickel producer and fourth largest cobalt producer in the world as well as the fourth largest copper producer in China. Jinchuan Group ranks no. 336 in "Fortune" Global 500 in 2021.
Website: http://www.jnmc.com/

* for identification purposes only


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comJinchuan Group International Resources Co. Ltd., (the "Company" or "Jinchuan International"; together with its subsidiaries, the "Group"; stock code: 2362), Jinchuan Group's flagship platform for overseas mineral resources development, has announced its audited annual results for the year ended 31 December 2021 (the "Year").

Energy Giant ExxonMobil Enters Crypto Mining Utilizing Surplus Natural Gas

Energy Giant ExxonMobil Enters Crypto Mining Utilizing Surplus Natural Gas

The corporation is now exploring extending its pilot program to four nations. ExxonMobil and Crusoe Energy had signed a contract

The post has appeared first on thenewscrypto.com

Energy Giant ExxonMobil Enters Crypto Mining Utilizing Surplus Natural Gas

Energy Giant ExxonMobil Enters Crypto Mining Utilizing Surplus Natural Gas

The corporation is now exploring extending its pilot program to four nations. ExxonMobil and Crusoe Energy had signed a contract

The post has appeared first on thenewscrypto.com

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Energy Giant ExxonMobil Enters Crypto Mining Utilizing Surplus Natural Gas

Energy Giant ExxonMobil Enters Crypto Mining Utilizing Surplus Natural Gas

The corporation is now exploring extending its pilot program to four nations. ExxonMobil and Crusoe Energy had signed a contract

The post has appeared first on thenewscrypto.com

Google Files “Non-Fungible Planet” Trademark Application

The trademark’s related project appears to be about environmental education, rather than blockchain or NFTs.

Exxon Mobil Powering Bitcoin Mining Pilot Using Excess Natural Gas: Report

Exxon Mobil

Exxon Mobil is hoping its pilot to utilize unspent natural gas will provide enough energy to power its Bitcoin mining operation

The post Exxon Mobil Powering Bitcoin Mining Pilot Using Excess Natural Gas: Report appeared first on Blockworks.

REDSUN SERVICES’s 2021 Annual Profit Attributable to Equity Shareholders Increases 42.6% to RMB128.0 million as compared with the Adjusted Figure in the Last Year

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HONG KONG, Mar 25, 2022 - (ACN Newswire) - Redsun Services Group Limited ("Redsun Services" or the "Group"), a fast-growing comprehensive community services provider with a strong presence in the Yangtze River Delta region, has announced its annual results for the year ended 31 December 2021 ("FY2021"). The Group reported steady growth in its three business lines of property management services, value-added services for non-property owners and community value-added services, as well as continued improvement in management scale and profitability.

FY2021 Highlights:
-- The Group's revenue was RMB1130.0 million, representing an increase of 47.2% compared with FY2020.
-- The breakdown of the Group's revenue by business line is as follows:
1) Revenue from property management services was RMB753.6 million, representing a year-on-year increase of 51.9% and accounting for 66.7% of the total revenue.
2) Revenue from value-added services for non-property owners was RMB180.3 million, representing an increase of 11.8% compared with last year and accounting for 16.0% of total revenue.
3) Revenue from community value-added services surged by 77.6% to RMB196.1 million, accounting for 17.4% of total revenue.
-- Gross profit margin was 28.4%, an increase of 0.5 percentage points compared with FY2020.
-- Profit attributable to equity shareholders was RMB128.0 million, an increase of 83.4% as compared with FY2020.
-- As at 31 December 2021, the Group had total 338 contracted projects with a contracted GFA of approximately 52.6 million sq.m., in which 234 projects under management with GFA of approximately 36.4 million sq.m., representing an increase of approximately 34.7% as compared with 31 December 2020.
-- The Group has a good cash position with cash and equivalents amounting to RMB697.6 million.

Three-pronged development strategy, actively exploring new development pathways
The Group recorded total revenue of RMB1130.0 million, representing a year-on-year increase of 47.2%. Revenue from community value-added services achieved a significant growth of 77.6%; revenue from property management services increased by 51.9% when compared with FY2020; and revenue from non-property owner value-added services increased by 11.8%. Overall profit reached RMB320.4 million, representing a year-on-year growth of 49.5%, and the overall profit margin reached 28.4%, up 0.5 percentage points versus FY2020. Profit attributable to equity shareholders was RMB128.0 million, an increase of 48.2% as compared with the adjusted figure RMB69.8 million recorded in FY2020. Net profit margin reached 12.2%, which was basically the same as the previous year. The Board of Directors does not recommend the payment of a final dividend for the year ended 31 December 2021 (2020: HK6.2 cents).

The Group has a healthy cash position with cash and cash equivalents amounting to RMB697.6 million. The Group was in a net cash position and financially sound as at 31 December 2021.

As at 31 December 2021, the Group provided property management services and value-added services in 59 cities in China, with 338 contracted projects and contracted GFA of approximately 52.6 million sq.m., representing an increase of approximately 31.8% when compared with 31 December 2020, of which the GFA under management was approximately 36.4 million sq.m (with commercial GFA under management of 4.76 million sq.m), an increase of approximately 34.7% from December 31 2020. During the period, the Group's GFA under management from third-party developers increased from 51.7% in 2020 to 58.0% in the year end of 2021, and the public construction and other GFA under management increased seven times, further demonstrating the Group's ability to expand externally.

During the year, the Group leveraged the "residential + commercial" dual-driven model, to expand its non-residential business portfolio while strengthening its cooperation and merger and acquisition efforts. The Group entered into an equity cooperation arrangement with Wuhan Huidehang Elite Property Service Co., Ltd. to complement each other in terms of regions and sectors, which increased the Group's market share in the Central China region. The Group acquired 80% interest in two Nanjing-based property management enterprises, namely Gaoli Property Services Co., Ltd. and Jiangsu Gaoli Meijia Property Co., Ltd., to achieve leapfrog development in the non-residential property service submarket and filled the gap in the property management submarket of the automobile display venue industry.

In addition, the Group gave play to its advantage of "home-base" in Nanjing to expand its urban services development tracks and establish a presence in the public construction sector. Following the strategic cooperation with Taishan Street, Jiangbei New District, Nanjing in 2020, the Group signed a strategic agreement with Xigang Street, Qixia District, Nanjing in 2021, which focused on the incubation and expansion of projects in sectors such as public services and municipal management services, in a bid to develop the urban service sector. The Group has successively gained a foothold in various residential communities to help steadily promote the renovation of old residential communities and provide intensive and comprehensive urban services, demonstrating a sound brand clustering effect.

Great efforts in providing quality services: Further enhance service capabilities to meet the increasing demand for high-quality products
Looking ahead, the Group will continue to adhere to its "customer-centric" service philosophy and further improve service standards. It will also continue to enrich the service offerings and standards of its product lines and achieve rapid replication of service standards, so as to ensure continuous customer satisfaction and maintain its brand reputation. For residential properties, the Group will further upgrade scenario-based community services and optimize the living experience. For non-residential properties, the Group will leverage the success of its benchmark projects to accelerate the market expansion of non-residential properties. For urban services, the Group will build regional economies of scale by utilizing its service quality and brand influence in Taishan Street in Jiangbei New District and Xigang Street in Qixia, continue to develop the core competitiveness of its urban services and enhance its capabilities in grassroots community governance.

Great efforts in operations: Further achieve leapfrog improvement in operating capabilities
Leveraging its "residential + commercial" dual-driven strategy, the Group will achieve steady growth in the scale of property management. Strategically, the Group will focus on the Greater Jiangsu Region and core cities where it has already established a foothold in order to accelerate the expansion of the non-residential market and further optimize the market structure and management density. Tactically, it will focus on urban services and push ahead with marketization. The Group is aiming to expand into third-party projects through multiple channels such as tendering and bidding and strategic cooperation. The Group will further build a "platform + ecosystem" value-added community service chain to meet the diversified and multi-layered needs of residents.

Great efforts in innovation: Further strengthen innovative capabilities to promote high-quality development
Empowered by technology and intelligence, smart property development has become the dominant trend and is a powerful tool that the Group can leverage. The Group's intelligent construction in 2022 mainly comprises four major smart platforms, namely, "Hongtu Panoramic Smart Data Platform", "All-Dimensional Planning and Management Platform", "Redsun Services APP" and "Hong Life APP". The Group will continue to accumulate technological achievements and smart platform operation experience to improve service quality, operational efficiency, digital decision-making capabilities and management, as well as real-time response time, which in turn will help to enhance management precision and [control] efficiency.

In addition, the Group has grasped the new opportunities brought about by smart and low-carbon development in line with the "carbon peaking and carbon neutrality" goals, to enhance its technological strengths and the competitiveness of its independent intellectual property rights, thereby facilitating the upgrade of its property management services. In 2021, the Group was granted a utility model patent technology by the China National Intellectual Property Administration for the first time, which makes full use of artificial intelligence and the AIOT platform to realize interconnectivity, enabling thorough understanding of the operation of drainage pipelines, facilitating prompt response to flooding, and thereby ensuring a safe commute for property owners. The Group also won the 2021 China Excellent Listed Property Management Companies by ESG Development.

In the future, Redsun Services will practice the "Yan'an Spirit" in the new era, remaining true to its beliefs with perseverance and persistence. The Group will endeavor to become a venerable property services operator by continuously enhancing its service quality, operational efficiency and innovative capabilities to reward all employees and shareholders with high-quality and sustainable growth.

About Redsun Services Group Limited
Established in Nanjing in 2003, Redsun Services Group Limited is a fast-growing comprehensive community service provider focusing on the Yangtze River Delta. With a vision of "making lives warmer," the Group has provided and endeavors to continue to "provide customers with high-quality services with sincerity" to better serve its customers. The Group has established the regional leading position in the property management market of Jiangsu province and is well-recognized nationwide. The Group was recognized as one of the Top 100 Property Management Companies by CIA for four consecutive years since 2017 and ranked 19th among the 2021 Top 100 Property Management Companies in terms of overall strength. In December 2020, the Group was included by FTSE Russell in the FTSE Global Micro-Cap Index. In 2021, the Group was selected as a constituent of the Hang Seng Property Service and Management Index.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comRedsun Services Group Limited ("Redsun Services" or the "Group"), a fast-growing comprehensive community services provider with a strong presence in the Yangtze River Delta region, has announced its annual results for the year ended 31 December 2021 ("FY2021").

REDSUN SERVICES’s 2021 Annual Profit Attributable to Equity Shareholders Increases 42.6% to RMB128.0 million as compared with the Adjusted Figure in the Last Year

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HONG KONG, Mar 25, 2022 - (ACN Newswire) - Redsun Services Group Limited ("Redsun Services" or the "Group"), a fast-growing comprehensive community services provider with a strong presence in the Yangtze River Delta region, has announced its annual results for the year ended 31 December 2021 ("FY2021"). The Group reported steady growth in its three business lines of property management services, value-added services for non-property owners and community value-added services, as well as continued improvement in management scale and profitability.

FY2021 Highlights:
-- The Group's revenue was RMB1130.0 million, representing an increase of 47.2% compared with FY2020.
-- The breakdown of the Group's revenue by business line is as follows:
1) Revenue from property management services was RMB753.6 million, representing a year-on-year increase of 51.9% and accounting for 66.7% of the total revenue.
2) Revenue from value-added services for non-property owners was RMB180.3 million, representing an increase of 11.8% compared with last year and accounting for 16.0% of total revenue.
3) Revenue from community value-added services surged by 77.6% to RMB196.1 million, accounting for 17.4% of total revenue.
-- Gross profit margin was 28.4%, an increase of 0.5 percentage points compared with FY2020.
-- Profit attributable to equity shareholders was RMB128.0 million, an increase of 83.4% as compared with FY2020.
-- As at 31 December 2021, the Group had total 338 contracted projects with a contracted GFA of approximately 52.6 million sq.m., in which 234 projects under management with GFA of approximately 36.4 million sq.m., representing an increase of approximately 34.7% as compared with 31 December 2020.
-- The Group has a good cash position with cash and equivalents amounting to RMB697.6 million.

Three-pronged development strategy, actively exploring new development pathways
The Group recorded total revenue of RMB1130.0 million, representing a year-on-year increase of 47.2%. Revenue from community value-added services achieved a significant growth of 77.6%; revenue from property management services increased by 51.9% when compared with FY2020; and revenue from non-property owner value-added services increased by 11.8%. Overall profit reached RMB320.4 million, representing a year-on-year growth of 49.5%, and the overall profit margin reached 28.4%, up 0.5 percentage points versus FY2020. Profit attributable to equity shareholders was RMB128.0 million, an increase of 48.2% as compared with the adjusted figure RMB69.8 million recorded in FY2020. Net profit margin reached 12.2%, which was basically the same as the previous year. The Board of Directors does not recommend the payment of a final dividend for the year ended 31 December 2021 (2020: HK6.2 cents).

The Group has a healthy cash position with cash and cash equivalents amounting to RMB697.6 million. The Group was in a net cash position and financially sound as at 31 December 2021.

As at 31 December 2021, the Group provided property management services and value-added services in 59 cities in China, with 338 contracted projects and contracted GFA of approximately 52.6 million sq.m., representing an increase of approximately 31.8% when compared with 31 December 2020, of which the GFA under management was approximately 36.4 million sq.m (with commercial GFA under management of 4.76 million sq.m), an increase of approximately 34.7% from December 31 2020. During the period, the Group's GFA under management from third-party developers increased from 51.7% in 2020 to 58.0% in the year end of 2021, and the public construction and other GFA under management increased seven times, further demonstrating the Group's ability to expand externally.

During the year, the Group leveraged the "residential + commercial" dual-driven model, to expand its non-residential business portfolio while strengthening its cooperation and merger and acquisition efforts. The Group entered into an equity cooperation arrangement with Wuhan Huidehang Elite Property Service Co., Ltd. to complement each other in terms of regions and sectors, which increased the Group's market share in the Central China region. The Group acquired 80% interest in two Nanjing-based property management enterprises, namely Gaoli Property Services Co., Ltd. and Jiangsu Gaoli Meijia Property Co., Ltd., to achieve leapfrog development in the non-residential property service submarket and filled the gap in the property management submarket of the automobile display venue industry.

In addition, the Group gave play to its advantage of "home-base" in Nanjing to expand its urban services development tracks and establish a presence in the public construction sector. Following the strategic cooperation with Taishan Street, Jiangbei New District, Nanjing in 2020, the Group signed a strategic agreement with Xigang Street, Qixia District, Nanjing in 2021, which focused on the incubation and expansion of projects in sectors such as public services and municipal management services, in a bid to develop the urban service sector. The Group has successively gained a foothold in various residential communities to help steadily promote the renovation of old residential communities and provide intensive and comprehensive urban services, demonstrating a sound brand clustering effect.

Great efforts in providing quality services: Further enhance service capabilities to meet the increasing demand for high-quality products
Looking ahead, the Group will continue to adhere to its "customer-centric" service philosophy and further improve service standards. It will also continue to enrich the service offerings and standards of its product lines and achieve rapid replication of service standards, so as to ensure continuous customer satisfaction and maintain its brand reputation. For residential properties, the Group will further upgrade scenario-based community services and optimize the living experience. For non-residential properties, the Group will leverage the success of its benchmark projects to accelerate the market expansion of non-residential properties. For urban services, the Group will build regional economies of scale by utilizing its service quality and brand influence in Taishan Street in Jiangbei New District and Xigang Street in Qixia, continue to develop the core competitiveness of its urban services and enhance its capabilities in grassroots community governance.

Great efforts in operations: Further achieve leapfrog improvement in operating capabilities
Leveraging its "residential + commercial" dual-driven strategy, the Group will achieve steady growth in the scale of property management. Strategically, the Group will focus on the Greater Jiangsu Region and core cities where it has already established a foothold in order to accelerate the expansion of the non-residential market and further optimize the market structure and management density. Tactically, it will focus on urban services and push ahead with marketization. The Group is aiming to expand into third-party projects through multiple channels such as tendering and bidding and strategic cooperation. The Group will further build a "platform + ecosystem" value-added community service chain to meet the diversified and multi-layered needs of residents.

Great efforts in innovation: Further strengthen innovative capabilities to promote high-quality development
Empowered by technology and intelligence, smart property development has become the dominant trend and is a powerful tool that the Group can leverage. The Group's intelligent construction in 2022 mainly comprises four major smart platforms, namely, "Hongtu Panoramic Smart Data Platform", "All-Dimensional Planning and Management Platform", "Redsun Services APP" and "Hong Life APP". The Group will continue to accumulate technological achievements and smart platform operation experience to improve service quality, operational efficiency, digital decision-making capabilities and management, as well as real-time response time, which in turn will help to enhance management precision and [control] efficiency.

In addition, the Group has grasped the new opportunities brought about by smart and low-carbon development in line with the "carbon peaking and carbon neutrality" goals, to enhance its technological strengths and the competitiveness of its independent intellectual property rights, thereby facilitating the upgrade of its property management services. In 2021, the Group was granted a utility model patent technology by the China National Intellectual Property Administration for the first time, which makes full use of artificial intelligence and the AIOT platform to realize interconnectivity, enabling thorough understanding of the operation of drainage pipelines, facilitating prompt response to flooding, and thereby ensuring a safe commute for property owners. The Group also won the 2021 China Excellent Listed Property Management Companies by ESG Development.

In the future, Redsun Services will practice the "Yan'an Spirit" in the new era, remaining true to its beliefs with perseverance and persistence. The Group will endeavor to become a venerable property services operator by continuously enhancing its service quality, operational efficiency and innovative capabilities to reward all employees and shareholders with high-quality and sustainable growth.

About Redsun Services Group Limited
Established in Nanjing in 2003, Redsun Services Group Limited is a fast-growing comprehensive community service provider focusing on the Yangtze River Delta. With a vision of "making lives warmer," the Group has provided and endeavors to continue to "provide customers with high-quality services with sincerity" to better serve its customers. The Group has established the regional leading position in the property management market of Jiangsu province and is well-recognized nationwide. The Group was recognized as one of the Top 100 Property Management Companies by CIA for four consecutive years since 2017 and ranked 19th among the 2021 Top 100 Property Management Companies in terms of overall strength. In December 2020, the Group was included by FTSE Russell in the FTSE Global Micro-Cap Index. In 2021, the Group was selected as a constituent of the Hang Seng Property Service and Management Index.


Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comRedsun Services Group Limited ("Redsun Services" or the "Group"), a fast-growing comprehensive community services provider with a strong presence in the Yangtze River Delta region, has announced its annual results for the year ended 31 December 2021 ("FY2021").
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