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ground properties co ltd (989) Details

Ground Properties Company Limited, an investment holding company, is primarily engaged in the retail sale of telecommunications related equipment and products in the People’s Republic of China. It also provides telecommunications maintenance and repair, distribution sales and management, and retail sales and management services. In addition, the company offers property investment, property development, and management services, including planning, design, budgeting, licensing, contract tendering, and contract administration. Further, it provides mobile communications services; maintenance and accounts management services to telecommunications operators; and property holding services. The company was formerly known as China Motion Telecom International Limited and changed its name to Ground Properties Company Limited in January 2014. The company was founded in 1990 and is headquartered in Central, Hong Kong. Ground Properties Company Limited is a subsidiary of Charm Success Group Limited.

274 Employees
Last Reported Date: 07/9/14
Founded in 1990

ground properties co ltd (989) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $1.5M
Executive Director
Total Annual Compensation: $407.0K
Executive Director
Total Annual Compensation: $203.0K
Compensation as of Fiscal Year 2014.

ground properties co ltd (989) Key Developments

Ground Properties Company Limited Provides Financial Guidance for the Six Months Ended September 30, 2014

Ground Properties Company Limited announced that based on a preliminary assessment of the unaudited consolidated management financial statements of the Group and the information currently available to the Company, the interim results of the Group for the six months ended September 30, 2014 are expected to record an increase in loss by over 150% as compared with that of the corresponding period in 2013 amounting to approximately HKD 13.2 million. During the Period, the Group recorded an overall increase in turnover primarily as a result of the significant increase in sales of telecommunication equipment and products with low profit margin by over 200% but such increase was partially offset by the decrease in rental income from the Group's investment properties of approximately HKD 5.0 million as the Group is still in the process of seeking new tenants for its investment properties upon the expiry of the previous tenancy agreement during the Period. However, the overall gross profit remained relative stable. Despite such increase in turnover, the Group is still expect to register an increase in net loss for the Period as compared to the corresponding period in 2013, which was mainly attributable to: (i) a substantial increase of approximately HKD 22.9 million in share-based compensation costs mainly due to the grant of share options on 19 June 2014; and (ii) the interest payment of approximately HKD 5.8 million on banking facilities and promissory note but those effects were partially offset by the impact comprising the sharp decrease in legal and professional fees of approximately HKD 4.8 million.

Ground Properties Company Limited, Annual General Meeting, Aug 08, 2014

Ground Properties Company Limited, Annual General Meeting, Aug 08, 2014., at 11:00 China Standard Time. Location: East Room, 23/F. Mandarin Oriental. Agenda: To receive and adopt the audited financial statements for the year ended 31 March 2014 together with the report of Directors and of independent auditor thereon; to re-elect the retiring Directors; to authorize the board of Directors to fix the remuneration of Directors; to re-appoint the auditor of the company and to authorize the board of Directors to fix its remuneration; and to consider and, if thought fit, to grant the general mandate to the Directors of the company for the time being in force to exercise the powers of the company to allot, issue and otherwise deal with additional shares.

Ground Properties Company Limited Announces Audited Consolidated Cash Flow Results for the Year Ended March 31, 2014

Ground Properties Company Limited announced audited consolidated cash flow results for the year ended March 31, 2014. For the period, the company’s net cash from operating activities was HKD 17,293,000 compared to net cash used in operating activities of HKD 2,741,000 a year ago. Purchase of property, plant and equipment was HKD 2,158,000 compared to HKD 1,400,000 a year ago.

 

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989

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Valuation 989 Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 8.6x
Price/Book 1.1x
Price/Cash Flow NM Not Meaningful
TEV/Sales 6.9x
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