(On 7 July 2014, Hong Kong) — Fantasia Holdings Group Co., Limited (“Fantasia” or the “Company”, stock code: 1777) announced that the company has achieved historical breakthrough in the profound transition from a real estate development company to a financial holding group. Colour Life Services Group Co., Limited, a subsidiary of the Company, was listed on the main board of the Hong Kong Stock Exchange on 30 June.
The listing demonstrates that Colour Life Services Group Co., Limited (“Colour Life”, stock code: 1778) has transformed from a property management company into the largest social community service company in China, and the first social community service company which was listed.
The listing of Colour Life has gained wide popularity in the capital market. Qihoo 360, a domestic internet giant; and the two real estate intermediary service providers, soufun.com and ehousechina.com; have participated in the process of investment.
On 30 June, the stock price of Colour Life closed at HK$4.6 on the first day of listing, representing an increase of 22% compared with the offer price of HK$3.78 with outstanding performance among all new offerings in the Hong Kong Stock Exchange. Up to 3 July, the market value of Colour Life has reached HK$5.5 billion, and its total market value has surpassed many real estate listed companies in Hong Kong.
Mr. Pan Jun, the Chairman and Chief Executive Officer of the Company, said, “the successful launch of Colour Life on the main board of the Hong Kong Stock Exchange shows an explicit way to the traditional property management sector. In the future, Fantasia will further facilitate the innovation in terms of business model and value in certain operation segments by revolutionary means.”
As the real estate industry develops in depth in China, Fantasia, with its transition into a comprehensive service operator since 2006, has well established its overall strategic business structure based on the upcoming era of the mobile internet and client database, which enable it as a leading domestic financial holding group with a business model driven by financial operations, anchored on community services, and supported by property development. Its principal business covers eight major areas, namely real estate development, Colour Life community service, community financial service, community international property, community cultural tourism, community business management, community senior citizen services. and community educational industry.
As stated by Mr. Pan, despite the diversified measures of Fantasia similar to those taken by other property enterprises, the core and the only operation of Fantasia in effect is community service. All of the eight major businesses are carried out based on the community service. In particular, real estate development aims to bring in producers for the community whilst businesses such as finance, senior citizen services, commerce and education can provide value-added services to residents of the community.
In June 2014, the property business sector of Fantasia developed steadily, the sale of which in the current month amounted to approximately RMB443 million. The corresponding sold gross floor area was 63,266 square meters, with the average selling price of RMB7, 002 per square meter.
As reflected over the market in first half of the year, the housing prices of major domestic cities remained stable at present. With the controlling measures at at bothbothboth policy and policy and policy and policy and policy and policy and policy and policy and policy and the the local government local levellevels, the Company will boost its growth in sales corresponding to the the the market changes. According to the operation plan of the Company, more projects will enter the market in the second half of the year, especially concentrated in the third quarter.
In respect of its international expansion strategy, the Company continued to increase its investments in the overseas projects. Singapore Love Forever, the brand new overseas real-estate project of Fantasia, received overwhelming market response after its launch.
In addition, the company’s culture and tourism subsidiary commenced to accelerate the operation of its project upon the completion of the acquisition of Hotel 373 on the Fifth Avenue in New York, USA. Other culture tourism projects are expected to achieve new progress in the second half of the year. Moreover, the financial service business of the Company achieved continuous and steady development.