Artist's rendering of the Changli industrial zone in Qinhuangdao, Hebei province, one of China Fortune Land Development Co's investments. Provided to China Daily
Profits for China Fortune Land Development Co Ltd, a developer and operator of industrial zones, soared more than 180 percent last year as revenues grew nearly 77 percent, according to the company's yearly report.
In its first annual report since going public in 2011, CFLD said revenues hit 7.79 billion yuan ($1.24 billion) with profit reaching 1.75 billion yuan.
The report noted a low debt level with a per share operating cash flow of 0.41 yuan.
Even amid a general downturn in the stock market, the company's share price closed their first year of trading more than 65 percent higher than at initial listing.
CFLD has seized the opportunity brought by the international movement of industries, the expansion of cities and regional changes in the workforce, noted the report.
Focusing on the Bohai Rim region, the company has integrated industrial zones and residential communities for a county-level economic model that features "mutual support of industrial zones and cities", the report said.
The development of industrial towns includes infrastructure construction, industrial development services, land redesign and services for industrial parks. It also pairs residential and urban real estate development with hotel services.
With 10 years of experience in investment and operation of comprehensive industrial zones, CFLD has more than 500 professionals and a corporate database across multiple industries.
Gu'an Industrial zone, CFLD's first provincial development, approved by the government of Hebei, now has three industrial sectors including IT, auto parts and equipment manufacturing.
During the reporting period, Gu'an industrial zone attracted 36 new enterprises with a contracted investment of nearly 8.5 billion yuan. The park now has 266 enterprises and a contracted investment of 34.7 billion yuan.
10 zones in operation
The company's industrial zones in Hebei include the Gu'an industrial zone and Dachang Chaobai River industrial zone in Langfang; Huailai Northern Beijing eco-town in Zhangjiakou; Changli industrial zone in Qinhuangdao; and Luanping Jinshanling zone in Chengde.
In Shenyang of Liaoning province it has developed the Northern Shenyang Puhe intellectual industrial park and the Yuhong zone.
As the government makes efforts to restructure the economy and industries this year, the company said it will use its advantages in investment, construction, operations and professional marketing to enhance profitability.
The report said the company will keep watch on new opportunities for its industrial zones that include Internet of Things, high-tech developments, creative and media industries, and medical equipment.
In cooperation with the Institute of Industrial Economics at the Chinese Academy of Social Sciences, the company established a research organization to provide academic support for regional economic development in an effort to maximize the value of the region.
An active practitioner of the "scientific development" model, CFLD is set to promote the county-level economy and proved a promising future by upgrading industries, the report said.
(China Daily 03/02/2012 page14)