On March 26, SHOUGANG INT'L (HK0697) which is Shougang Group's comprehensive city service platform released its 2018 results announcement: As of December 31, 2018, SHOUGANG INT'L achieved a profit attributable to shareholders of the company of HK$353 million, a year-on-year increase of 516.4%; And diluted earnings per share of HK$0.0175, and proposed a final dividend of HK$0.0255 per share. SHOUGANG INT'L closing price on March 26 was HK$0.238, which means that the proposed dividend will exceed one-tenth of the stock price.
At the same time, SHOUGANG INT'L announced a dividend declaration plan for the fiscal year 2019-2022: within the scope permitted by relevant regulations and corporate dividend policy, and without unforeseen circumstances, the company plans to distribute not less than 7 to the company's shareholders each year. A dividend of HK$100 million. From time to time, the company will determine a higher dividend distribution plan based on performance growth.
In 2018, it was the first year of SHOUGANG INT'L transformation focused on parking asset management and urban renewal as the main private fund management. Under the company's efforts, the parking business began to contribute revenue, and as the operating level improved, the gross profit margin of the parking sector increased. As the team carefully polished the underlying assets of the managed funds, more investors were willing to invest in the subscription company. The fund's management sector and the rapid expansion of the fund's scale have made the fund management sector a stable source of profit for the company.
Among them, SHOUGANG INT'L parking business adheres to the principle of key cities, core locations and quality parking spaces, focusing on market segments such as airports, hospitals, shopping malls, office buildings and roadsides, looking for high-quality, high-yield operational projects. Signed industry benchmarking projects such as Beijing Daxing International Airport, Shanghai Hongqiao Airport, Guiyang Longdongbao Airport, Beijing Sino-Japanese Friendship Hospital and Beijing Railway Station. In 2018, the company acquired 22,128 parking spaces and long-term management rights in Beijing, Shanghai and Chengdu.