Description
Zhenro is a midsize China developer that started operations in 1998 and listed on the Hong Kong exchange in January 2018. Founded by major shareholder Ou Zongrong, Zhenro developed its first project in Yichun, Jiangxi province, before expanding to Fujian province in the 2000s. Zhenro embarked on nationwide expansion from 2013 onwards, and subsequently experienced strong contracted sales growth in recent years from a low base since 2016. Zhenro is focused on property development in provincial capitals of second-tier cities in China, with landbank positioned mainly in the Yangtze River Delta and Western Taiwan Straits regions. Property development accounts for nearly all of Zhenro’s revenue, with minor contribution from an investment property portfolio.
