China Uptown Group Co. Ltd.
HHKEX:23300.20
HKD
+0.00
(+0.50%)
China Uptown Group Co. Ltd.
HKEX:2330
(Hong Kong Exchange)
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0.20
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- Business
- China Uptown Group Company Limited (2330.HK) is an investment holding company principally engaged in property development and investment, as well as trading of commodities and electronic components; it develops and sells residential properties, commercial premises, car parking spaces, and apartments in Mainland China, particularly two projects in Maoming City, Guangdong Province, including the First Maoming Project, a composite of residential and commercial properties largely delivered by 2019, and the Second Maoming Project at Maoming Jixiang District with a site area of approximately 29,274 square meters, planned gross saleable area of 84,000 square meters comprising 59,000 square meters residential, 25,000 square meters commercial, and 1,000 carpark units, where construction stands at 63% complete as of December 2024 with basement, kindergarten, and initial residential blocks finished and pre-sales rescheduled for residential and commercial properties in late 2024 and apartments, car parks, and shops in early 2026; it holds investment properties, provides management services, and trades raw cane sugar globally alongside electronic component products such as brand-named memory cards sold directly to customers with 30-90 day credit terms, generating RMB23.3 million in revenue for 2024 at a 0.1% gross margin to diversify from volatile sugar markets and stabilize operations amid property sector challenges. The company operates primarily in Mainland China for property activities and Hong Kong for trading and headquarters functions at Room 1201, 29 Austin Road, Tsim Sha Tsui, Kowloon, targeting residential and commercial buyers, property investors, and industrial customers for commodities and electronics; founded in 2000 and formerly known as The Quaypoint Corporation Limited until its name change in January 2010, it lists on the Hong Kong Stock Exchange's Main Board since February 2001 with 316 million shares issued as of December 2024 and employs 35 staff. Recent major changes include a February 2024 private placement of 50.9 million new shares at HK$0.14 each under general mandate, raising net proceeds of HK$6.88 million fully utilized for liabilities and working capital by year-end; a July-August 2024 rights issue and placing under specific mandate issuing 10.95 million rights shares at HK$0.15 each, yielding net proceeds of HK$0.56 million for professional fees and working capital; a September-October 2024 disposal of a Hong Kong property at Silvercord, Tsim Sha Tsui for HK$32.5 million, approved by shareholders in November 2024 as a major transaction, generating a RMB15.7 million gain; mid-2024 launch of electronic component trading as a new revenue stream; and April 2025 appointment of Mr. Liu Jianhui as executive Director and Chief Executive Officer.