Song Guangju, chairman of Poly Development, who proposed to return to the top three, retired, and General Manager Liu Ping took over

The Paper's reporter Li Xiaoqing

Song Guangju, the first generation leader of Poly Development, is retiring.

On the evening of July 29, Poly Development Holding Group Co., Ltd. (Poly Real Estate, 600048.SH, hereinafter referred to as "Poly Development") announced that in accordance with the relevant regulations of the State-owned Assets Supervision and Administration Commission of the State Council on cadre management, Song Guangju resigned as chairman and director of the company due to his age. Agreed to elect Liu Ping as the chairman of the board of directors of the company, and the term of office shall end from the date of deliberation and approval by the board of directors to the expiration of the term of office of the sixth board of directors of the company.

According to the data, Song Guangju was born in 1960, Chinese nationality, master of business administration, senior engineer. He joined the company in 1993 and has served as the director of the office, deputy general manager, executive deputy general manager, general manager since 2002, deputy general manager of China Poly Group Co., Ltd., chairman of the company since 2010, and is one of the founders of Poly Development.

Liu Ping was born in 1968, Chinese nationality, bachelor of economics, senior auditor. He started his career in 1989 and successively served as the chief of the branch directly under the Guangdong Provincial Audit Office, the manager of the planning department of Poly Real Estate, the director of the general manager's office, the assistant general manager, the secretary of the board of directors, and the deputy general manager. He is currently the director and general manager of Poly Development.

On March 24 this year, the State-owned Assets Supervision and Administration Commission (SASAC) released the news that Song Guangju was dismissed from his position as a member of the Standing Committee of the Party Committee of China Poly Group Co., Ltd., and he no longer served as deputy general manager of China Poly Group Co., Ltd. and retired.

Song Guangju once set a goal for Poly Development to return to the top three in the industry, but until now, Poly Development has not returned to the top three in the industry.

At the shareholders' meeting in December 2017, Song Guangju made it clear that "in the next two to three years, we must return to the top three in the industry"; at that time, Poly Development also threw out the "345" strategy of "sprinting 300 billion in 2017 and breaking through 500 billion in three years", that is, sales in 2017 reached 300 billion yuan, 400 billion yuan in 2018, and 500 billion yuan in 2019.

Poly's scale target of 500 billion yuan has finally just reached the target in 2020 after a year late. In 2020, Poly Development achieved a total operating income of 243.208 billion yuan, an increase of 3.06% year-on-year; a net profit of 40.048 billion yuan, an increase of 6.64% year-on-year; and a net profit attributable to the mother of 28.948 billion yuan, an increase of 3.54% year-on-year. The company achieved signed sales of 502.8 billion yuan, an increase of 8.88% year-on-year, ranking fifth in the industry.

Liu Ping, then general manager of Poly Development, said at the shareholders' meeting on June 24 this year that the total direct investment in real estate and related industries in poly development plans in 2021 will reach 395 billion yuan, an increase of 17.9% over the amount raised in 2020. For the summary of 2020, Liu Ping said that in 2020, Poly Development is "selling houses in the first half of the year and buying land in the second half of the year". Liu Ping said that in the second half of 2020, industry policies and liquidity tightened, expansion opportunities appeared, the board of directors supported the company to grasp the market window, so it increased the annual investment plan budget, gave full play to the advantages of green file enterprise funds and resources, ensured the year-end access to high-quality projects, and completed incremental expansion goals.

As of the close of trading on July 29, Poly Development reported 10.02 yuan / share, down 0.2%.

Editor-in-Charge: Liu Xiuhao

Proofreader: Yan Zhang