HONG KONG, June 27, 2014 /PRNewswire/ -- Goldin Properties Holdings Limited ("Goldin Properties" or together with its subsidiaries "the Group", HKEx stock code: 00283) today announced its annual results for the year ended 31 March 2014 (the "Year").
For the Year, the Group recorded a revenue and net profit of approximately HK$2,793 million and HK$856 million, representing approximately 21 times and 12 times growth respectively when compared with the year ended 31 March 2013. The increase in revenue was mainly attributable to the recognized revenue of approximately HK$2,680 million from the sales of residential properties in Phase One of Fortune Heights ("Fortune Heights") of Tianjin Goldin Metropolitan ("Goldin Metropolitan") during the Year. The property sales accounted for 96% of the total revenue for the Year. The Group is confident about the success of the mega-integrated property development flagship project Goldin Metropolitan in the coming years.
The high quality of its property project and performance had earned the Group accolades and led to the inclusion of Goldin Properties' shares in the list of the Morgan Stanley Capital International ("MSCI") China Small Cap Index on 30 May 2014. MSCI measures the performance of the small-cap stocks based in China. This has demonstrated the market's recognition of the Group's solid foundation, growth potential and its endeavours in property development and has enhanced the Group's reputation on the international capital markets.
Positioned as a mega-integrated property development flagship project, Goldin Finance 117 was rated as one of China's new iconic buildings in the "2013-2014 China New Landmark Constructions in 100 Cities", an annual study of new landmarks under construction in the country which was jointly organized by China Index Academy and China Real Estate Index System.
Fortune Heights, as one of the signature projects of the Group, was named as one of the most promising property projects in 2013 by "The Sixth Jinghua Property Annual Ranking 2012" for its luxurious artistic design and excellent craftsmanship. Other accolades relating to Fortune Heights included the "China Property Awards -- Annual City Award (Tianjin)" from China Business News, a reputable financial media corporation in China, in November 2013. All these awards demonstrated the market's acclaim for the high quality of Fortune Heights and the premium brand of the Group.