China Chengtong Development Group Limited ("Chengtong Development", together with its subsidiaries, the "Group") is a red-chip company listed on the Main Board of The Hong Kong Stock Exchange (Stock code: 217), our controlling shareholder being China Chengtong Holdings Group Limited, under the direct management of State-owned Assets Supervision and Administration Commission of the State Council.
The Group is currently principally engaged in leasing, bulk commodity trade, property development, property investment and marine recreation services and hotel. During 2020, the Group continued to devote resources mainly to the principal business of leasing and the scale of the business greatly expanded with loans receivable exceeding HK$2 billion for the first time, representing a year-on-year increase of approximately 84%, and segment profit before tax amounted to approximately HK$121.64 million, representing a year-on-year increase of approximately 82%. Meanwhile, the Group increased the number of professional staff, improved the organisational structure and business processes, and identified development positioning and business directions, laying a good foundation for the subsequent rapid development. As for bulk commodity trade, the Group withdrew from its domestic trading of coal business and formed an offshore trading joint venture to mainly carry out cross-border and international trade business. In terms of other business segments, the Group will continue their restructuring and integration, so to control risks.
Looking ahead, the Group will further strengthen its strategic directions and leverage the resource advantages of its controlling shareholder to quickly optimise and expand the scale of its leasing business, and build up brand influence in the industry under the premise of strict control of risks and based on the feature of professional development.