HONG KONG, Feb. 24, 2020 /PRNewswire/ -- On February 22, Hang Seng Indexes Company Limited announced the quarterly review results of Hang Seng Index Series as of December 31, 2019. Sinic Holdings (Group) Company Limited ("Sinic Holdings" or the "Company", stock code: 2103) was included in the Hang Seng Composite Index, and such adjustment will take effect from March 9, 2020.
The Hang Seng Composite Index is the benchmark index of the Hong Kong stock market., accounting for 95% of the total market capitalization of companies listed on the Main Board of the Hong Kong Stock Exchange. Composite Index Constituents have broad market representation. Currently, the number of constituent companies of the index is 476.
The inclusion of Sinic Holdings in the Hang Seng Composite Index reflects the high recognition of the capital market to the growth, financial condition and future development of the Company.
As a large-scale integrated property developer with qualification of national first-class property development, Sinic Holdings has expanded its business into the Yangtze River Delta Region, the Greater Bay Area, core cities in central and western regions as well as other regions with potential for growth in China, achieving a nationwide layout. The Company has a brand position of "quality products and services maximizing" to continuously enhance its market influence and brand competitiveness. While developing business, the Company established "Sinic Foundation" to deliver social responsibility with love.
Going forward, Sinic Holdings will continue to consolidate its capital strength, broaden its financing channels, reduce its financial leverage, enhance its branding, and pave the way for future growth, so as to create better investment value for public shareholders.
About Sinic Holdings (Group) Company Limited
Sinic Holdings (Group) Company Limited is a large-scale and comprehensive property developer in the PRC, focusing on the development of residential and commercial properties. Through nearly 10 years of operations, the Company has successfully established a leading position among residential property developers in Jiangxi Province and expanded its property development business into Yangtze River Delta, the Guangdong-Hong Kong-Macau Greater Bay Area, and core cities in Midwest China. According to the rankings of CRIC, China Index Academy, and EH Consulting, in 2019, the company ranked 36th, 32nd, and 31st in terms of sales value (full-scale) among Chinese real estate development enterprises. The Company was recognized as one of the China's Top 50 Real Estate Developers jointly by the China Real Estate Industry Association, Shanghai Yiju Real Estate Research Institution and China Real Estate Appraisal in 2018 and 2019, and one of the China's Top 100 Real Estate Developers - Growth Top 10 by the China Real Estate Top 10 Research Committee in 2018 and 2019.
The Company residential properties can be categorized into three major series, namely, its "Wan" Series, the "Yuan" Series and the "Yue" Series, which target first-time home purchasers, home upgraders and extended families or high-income households, respectively. As of July 31, 2019, the total land bank attributable to the Company amounted to approximately 15.0 million sq.m., and the Company had 110 projects at various stages of development.