Press Release
First Capital Investment Banking (“FCIB”) acted as lead underwriter of the Non-Public Offering of Corporate Bonds(the 1st tranche) in 2020 for Beijing Weikai Real Estate Development Management Company.
As the joint lead underwriter, First Capital Investment Banking (“FCIB”), successfully completed the non-public offering of corporate bonds (the 1st tranche) of Beijing Weikai Real Estate Development Management Company(“Beijing Weikai”) on Dec.17th, 2020. The total amount raised is RMB 0.34 billion.
Beijing Weikai as the Haidian District of Beijing of affordable housing development and construction of key projects, the business scope and investment scope are mainly the construction of affordable housing and the development and construction of the park, It is responsible for the development and construction of affordable housing in the region and the development and construction of parks in the north of Haidian District, it is in the regional industry monopoly position, the market is relatively stable.
In 2019, Beijing Weikai realized an operating revenue of 219,5598,100 yuan and a net profit of 42,756,600 yuan. The RMB 0.34 billion of private placement bonds raised by Beijing Weikai is planned to be used to repay the principal and interest of 17 Weikai 01, which is of great significance to improve corporate asset-liability structure and relieve the debt pressure.
The highlights of this bond project are as follows: (1) Regional Advantages: In 2019, the GDP of Beijing and Haidian District are RMB 35,37.13 billion and RMB 792.6 billion respectively, with strong regional economic strength and rapid growth. (2) Shareholder Advantages: The controlling shareholder is Beijing Shichuang Technology Park Development Construction Co.,Ltd., which is a subsidiary of the Haidian District State-owned Assets Center; the actual controller is the State-owned Assets Supervision and Administration Commission of the People's Government of Haidian District, Beijing. (3) Shareholder guarantee: The controlling shareholder Shichuang (AA+) guarantees that Shichuang is a subsidiary of Haidian State Capital Center, at the end of 2019, the total assets are 40.333 billion yuan, the annual operating income in 2019 are 3.531 billion yuan, and the net profit is 122 million yuan.
