Chinese real estate developer Country Garden ranks among Forbes Global 2000 list for ten consecutive years

The company moves up to the 129th position on the list in 2019

FOSHAN, China, May 20, 2019 /PRNewswire/ -- Country Garden Holdings (02007.HK), a leading Chinese property development company, moved up to the 129th position in the 2019 edition of the Forbes Global 2000 list released by leading business magazine Forbes on the evening of May 16, 2019. This marked the tenth consecutive year that the Chinese property developer has made the list with the ranking on the list having improved in each of the past ten years.


Together with the Forbes Fortune 500, the two lists are the proven authorities in terms of global company rankings. The world's largest and most powerful listed companies are recognized based on four key indicators: sales, profit, total assets and market value.


Notably, 309 Chinese companies were included in the Global 2000 list, five of which made the top ten, demonstrating the outstanding achievements of China-based firms. Notably, with US$237.4 billion in total assets and US$35.2 billion in market value, Country Garden rose by 14 spots to take the 129th place in 2019, continuing the real estate firm's continuous enhancement in its ranking since the first appearance on the list in 2010, a testament to the firm's strong growth momentum.


Country Garden has once again appeared among the Fortune 500, becoming one of the companies on the list that have seen the biggest improvement in their ranking over the past few years. In addition, the real estate firm was also included in the 2019 Brand Finance Global 150 list and the BrandZ™ Top 50 Most Valuable Chinese Brands list, among other leading rankings.


According to Country Garden's financial statement for 2018, the company experienced steady growth despite the downturn in the overall Chinese real estate market and policies put in place by the Chinese government meant to put a brake on the market. Country Garden achieved 501.88. billion yuan (approx. US$72.2 billion) in contract sales last year, representing a year on year growth of 31.25 per cent. The company posted revenue of 379.08 billion yuan (approx. US$54.5 billion), up 67.1 per cent year on year. Gross profit stood at 102.48 billion yuan (approx. US$14.7 billion), up 74.3 per cent year on year, while net profit clocked in at 48.54 billion yuan (approx. US$6.9 billion), up 68.8 per cent year on year.


Besides strong sales growth and a steady rise in profitability, the company's conversion rate of contract sales to cash reached 91 per ce

nt in 2018 with the net loan ratio dropping 7.3 percentage points year on year to 49.6 per cent. In addition, with a cash balance of some 242.54 billion yuan (approx. US$34.9 billion), the firm posted a positive net operating cash flow for the third consecutive year, reflecting its strong ability to manage risk.

 


A number of leading financial institutions including J.P. Morgan, Goldman Sachs, BOC International and BNP Paribas gave Country Garden a "buy" rating in view of the company's steady growth.


China International Capital Corporation reaffirmed a "buy" rating for Country Garden based on the company's ample land reserve, strong execution competence and outstanding portfolio. The real estate firm expects to see a continued rise in both sales and profitability this year.


Since the second half of last year, Country Garden has been focusing on the enhancement of the quality of operations while steadying the pace of expansion as part of its long-term strategy to maintain operational consistency. In 2019, with real estate, modern agriculture and robotics as three core businesses, the company plans to deepen the level of the collaboration with its partners and promote business integration and transformation in a move to enhance its comprehensive competitiveness, with the aim of making greater contributions to society by creating both social and economic value.  

Related Links :

www.bgy.com.cn

Look out for further updates on our Facebook fan page!

Related Articles

  • 【網民職場Talk】大學Third Hon畢業 連累失面試機會?

    大學生近日陸續完成課程,開始踏上求職之路。若在大學取得一級榮譽(First Hon),可能會為CV加分,但在取得三級榮譽(Third Hon)的話,又會否影響僱主聘請意欲呢?有Third Hon畢業生遲遲未找到工作,在社交專頁《奴工處》投稿,了解Third Hon是否真的影響求職。

  • 【新冠肺炎】暖男老闆炒股勁賺過千萬 贈予員工獲讚夠體貼

    新冠肺炎在全球肆虐,經濟不斷萎縮下,很多企業宣告裁員和倒閉,令打工仔生計大受打撃,不過,美國俄亥俄州房地產投資公司康納集團(The Connor Group)行政總裁兼創辦人康納(Larry Connor)卻在疫市中大派獎金,以幫助旗下員工度過難關,令一眾員工感動不已。

  • 【行業秘聞】示範單位電器只係擺設 地產初哥爆最離譜有人喺假廁所…

    每個行業都有著鮮為人知的辛酸,而對服務業而言,由於對象是人,因此不時傳出千奇百怪的笑料。有地產業的初哥向社交媒體專頁《奴工處》投稿,分享帶客人到商場搭建的示範單位參觀,結果令人哭笑不得。

  • 【職場二選一】寧移民不在港做樓奴? 網民:有幾百萬喺手寧願移民

    香港樓價冠絕全球已不是甚麼大新聞,根據美國商業房地產服務公司世邦魏理仕的《全球生活報告》,香港已經連續第5年成為全球樓價最貴的城市......

  • 【職場網民Talk】人工高壓力大 45歲打工仔寧退休不轉工?

    辛苦工作20多年,捱到今時今日,也是為了安穩的生活。如果你存款足夠,對現職工作又不太滿意,你會選擇轉工還是索性退休享受生活?......

  • 【職場熱話】高層最不能接受員工行為 榜首︰工作期間講粗言穢語

    【經濟日報專訊】時移世易,現時年輕一代打工仔大多數追求工作與生活平衡,新興的彈性自主工作如Freelancer、KOL、Blogger,甚至是Slash等在職場中湧現。那麼,作為傳統公司應該如何塑造一個自由氛圍的環境,令新一代不至於工作一兩年,到了開始能為公司創造價值的年期就悻悻然離去?

  • 【網民職場Talk】同事頻頻去廁所 網民「擔心」:係咪有生理需要

    有沒有發現有些同事常常去廁所呢?如果只去廁所數分鐘就無傷大雅,但如果去超過半小時,甚至一小時,不只會影響工作進度,而且會令上司同事「擔心」健康狀況!

  • 【移居日本?】去便利店打工有望拎工作簽證 一文睇晒14種「特定技能」行業

    最近香港愈來愈多人想申請移民,英國、美國、澳洲和加拿大是熱門之選,但大家又有否想過申請工作簽證,到日本打工呢?日前,日本自由民主黨提出建議,將便利店列為「特定技能」項目,讓日本以外地區的人能夠申請工作簽證,協助日本人手短缺的行業。

  • 【職場貼士】同事瘋狂放負點算好? 醒你5招應對

    職場壓力無可避免,打工仔不只要應付龐大工作量,還要面對充滿負能量的同事,實在身心疲累。同事間情緒互相影響,好的就彼此推動,共同進步;壞的則令工作環境出現負能量,不但令工作氣氛變差,更影響工作效率。遇上「放負」同事,打工仔該如何應對?

  • 【職場熱話】未做夠一年就轉工會整花CV? 網民:未必喎

    不少人相信每份工作至少要做滿一年,才不會讓HR留下「Jumpy」(即欠忠誠,常轉工)的形象,所以即使對工作有所不滿,仍堅持做滿一年才轉工。不過,有打工仔分享自身經驗,表示即使未做滿一年,也不會影響HR的觀感。