After a successful strategic transformation to a market-oriented company over the past few years, Beijing Enterprises Holdings is looking at rapid growth this year.
The company, formed in Beijing and listed in Hong Kong in 1997, started its strategic transformation from a conglomerate to a corporation of public utilities including gas, expressway and water operations, consumer business Yanjing beer and high-technology business.
Zhang Honghai, vice-chairman and chief executive, said: 'When the company listed the business was a bit too diverse. However, over the past three to four years we successfully reformed and identified infrastructure, public utilities and consumer products as our core business.
'We completely accomplished our strategic transformation last year, which established a good foundation for our long-term development. We believe our business is entering a period of rapid growth.'
The economic boom on the mainland and bullish financial markets in the mainland and Hong Kong enabled the company to experience a record-breaking financial performance last year.
Sales revenue last year jumped 55.9 per cent to HK$11.3billion and net profit climbed 73.5 per cent to HK$1.03 billion.