Capture Global Innovation and Entrepreneurship Trend
Actively Developed COMB+ Incubation Platform
(31 March 2016, Hong Kong) SkyOcean International Holdings Limited ("SkyOcean International" or the "Company" and, together with its subsidiaries, the "Group") (Stock Code: 00593), announced its annual results for the year ended 31 December 2015 ("theYear").
During the Year, the Group recorded revenue of approximately HK$136.7 million, representing an increase of 38% compared to approximately HK$99.0 million in 2014. Such increase was mainly attributable to the revenue generated from the sales and leases of the newly completed commercial units in the Group's property project located in Qian'an, Hebei Province, namely the "4th Generation SkyOcean City" urban complex project, amounted to HK$59.0 million in 2015. The Group recorded a net profit of approximately HK$618.9 million in 2015 (2014: a net loss of approximately HK$154.7 million). Such increase was mainly attributable to the significant gains on fair value change of the Group's investment properties in Beijing; and the sales of the newly completed commercial units in the Group's "4th Generation SkyOcean City" urban complex project. Basic earnings per share attributable to the owners of the Company for the year ended 31 December 2015 amounted to HK$2.345 (2014: basic losses per share of HK$0.644).
SkyOcean International carried on major strategic adjustment during the Year and shifted its operational focus from property development and elderly care services to innovation and start-ups incubation. The management believes that, such strategic change is of forward-looking significance, which can help the Group play its own advantages, capture the world's innovation and start-up trend, and bring about decent returns to the Group, and therefore stays in line with the shareholders' overall benefits.
The year of 2015 saw the kick-off of the "Mass Entrepreneurship and Innovation" raised by Premier Li Keqiang. During the Year, the State Council of the PRC released a few supporting policy documents to creat favorable policies and social environment for people's innovation and entrepreneurship. Skyocean International has become the sole strategic partner of United Nations Office for Project Services ("UNOPS") in the Asia-Pacific in the innovation field early since 2013. On 18 May 2015, the Group officially launched its proprietary technology brand COMB+, and the first smart incubation platform COMB+ (Beijing Chaoyang), was put into operation at the same time, marking that SkyOcean International has expanded into the technology sector and has become the first Hong Kong listed company with a self-operating platform for start-ups and innovations..
COMB+ Global Innovation and Entrepreneurship Incubation Platform
COMB+ provides full-life cycle incubation and growth services to global start-ups through the combination of "online + offline" and "incubation+ investment + course" business models with the aim to catalyze world change by gathering global wisdom. During the Year, COMB+ had a rapid business development with inspiring achievements. In July 2015, COMB+ entered into comprehensive strategic cooperative relationship with Communication University of China, bringing the two parties to closely cooperate in culture talent cultivation, special entrepreneurship funds management, and large-scale experience sharing events or competitions organization. In November and December 2015, COMB+ entered into a strategic cooperation framework agreement with Datang Telecom Convergence Communications Co., Ltd. and CIPRUN (北京細軟智谷知識代理有限責任公司) respectively. Meanwhile, COMB+ was granted the plague of "Beijing-Hong Kong Co-working Base" at the first Hong Kong International Entrepreneurs Festival. Arranged by UNOPS, COMB+ paid a visit to the world's entrepreneurship and innovation pioneers in the United States, Israel, Germany, Denmark, and Finland, amounting to 72 top-class incubators and accelerators, which included startupbootcamp, the the most well-known accelerator in Europe, Rocket Space, an incubator for programs like Uber, and the incubators created by the world's famous universities including Harvard, Cambridge, and MIT, with whom COMB+ reached multiple intentions of cooperation.
As at 31 December 2015, among over 1,000 applications received, 45 outstanding start-ups were invited to enter COMB+. During the Year, these enterprises have obtained funding amounted to approximately RMB180 million, with a total combined valuation of about RMB1.4 billion, among which Meixi Laundry Technology and Northern Hemisphere gained investment of over RMB30 million in their recent single round of financing. During the Year, the revenue from providing services to start-up enterprises was approximately RMB519,000.
COMB+ (Beijing Fangshan) project, which is under development, occupies a site area of approximately 3 million square metres, with a total investment to reach RMB50 billion. Phase I of the project has a site area of approximately 113,000 square metres, and its trial operation is expected to commence by the end of 2016. COMB+ is a platform not only for operation and investment, but also for big data. "Global Online Silicon Valley", a service platform for interaction and investment between entrepreneurs and investors from home and abroad, will pool the world's best entrepreneurship programs, courses and mentors, and build an alliance for the world's mainstream investors, a global network for innovation services and forge an online business starting eco-system. Phase I of COMB+ "Global Online Silicon Valley" has started trial operation from 1 March 2016, with a total project investment to be approximately RMB6.5 million.
"4th Generation SkyOcean City" Urban Complex Project
As at 31 December 2015, the construction work of Phase 1 of the 4th Generation SkyOcean City Project was substantially completed, and Its final inspection is expected to be completed in the beginning of 2016. The construction work of Phase 2 has a total site area of approximately 119,000 square metres with a planned total gross building area of approximately 179,000 square metres. Of which, a gross building area of approximately 82,000 square metres for a commercial building was under development and is expected to be completed in 2017. The pre-sales will commence in 2016.
The management believes that, SkyOcean International has identified its objectives for future development and formulated detailed execution plans. The management is confident that the Company will soon become a technical group with an international influence. In 2016, COMB+ will cooperate domestic and overseas partners to build several incubators and science parks and "Global Online Silicon Valley" will be perfected in phases. The expansion of COMB+ global incubator alliance is accompanied by the growth of the global investment alliance and the entrepreneurial mentor alliance. COMB+ will also collaborate with more internationally prestigious universities to host summits on entrepreneurial education and innovation or entrepreneurship competitions, in order to improve its brand awareness. Meanwhile, SkyOcean International will also consider strategic investment in outstanding technical and cultural businesses worldwide to bring about decent returns to the shareholders.
About SkyOcean International Holdings Limited (0593.HK)
SkyOcean International focuses on the convergence and innovation of technology and culture and its key business activities are development of technology industry and strategic investments in outstanding technology and cultural companies. SkyOcean International is the sole strategic partner of UNOPS (The United Nations Office for Project Services) in Asia Pacific region in innovation field, and the first HK-listed company principally engaged in the operation of incubator for innovative entrepreneurship. Comb+, the proprietary brand of SkyOcean International, is the very first proposing the establishment of "Global Online Silicon Valley" platform, which will pool the world's best entrepreneurship programs, courses and mentors, and build an alliance for the world's mainstream investors, a global network for innovation services and a service platform for the entire life cycle of startups. For more information, please visit www.skyocean.com.
This press release is published by Porda Havas International Finance Communications Group on behalf of SkyOcean International Holdings Limited. For further information, please contact:
Porda Havas International Finance Communications Group
Jacqueline Lee (852) 3150-6732 jacqueline.lee@pordahavas.com
Doris Zhao (852) 3150-6792 doris.zhao@pordahavas.com
Camy Yeung (852) 3150-6746 camy.yeung@pordahavas.com
Jane Zhang (852) 3150-6742 jane.zhang@pordahavas.com
Cindy Chen (852) 3120-6512 cindy.chen@pordahavas.com
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