Mhome Group Sees Positive Prospects despite the COVID-19 Outbreak as Prefabricated Construction Market Presents New Opportunities in China

WUHAN, China, May 21, 2020 /PRNewswire/ -- Mhome Group (000667.sz), a top Chinese real estate developer headquartered in Wuhan, is looking at positive market prospects in the following three quarters as the economy gradually gets back on track after the COVID-19 outbreak.

Mhome Group has developed a strategic layout of one "main," which is the smart housing manufacturing business, with the support of "two wings," the modern agriculture and industrial revitalization of small towns, to establish an industrial ecosystem and alliance.

Taking a technology-centric approach, Mhome Group implements advance co-design strategy with key partners at an initial stage, and focuses on sales recovery and promotes the development of SEPC (service, engineering, procurement, construction) and EPC (engineering, procurement, construction) businesses with the full strength and wisdom of the team.

He Fei, Co-CEO of Mhome Group, commented that the pandemic presented both challenges and opportunities to the real estate and construction industries.

"The capital chain, sales, land acquisition and supply were greatly affected by the COVID-19 outbreak, but the time of crisis is also a process for the industry and market to reorganize the order. For Mhome Group, which has built an innovative business model focusing on smart housing manufacturing and pioneering technologies in the prefabricated construction industry, we are expecting to take a new leadership in the real estate industry, and with China's post-outbreak policy support, we are also looking at bigger space for development," said Mr. He.

Mhome Group's smart housing manufacturing is an integration of real estate development and prefabricated construction, a unique approach that gives the company a leading edge in the new era of infrastructure development compare to the conventional general contracting model.

"China has a timeline for building prefabrication since 2016, that prefabricated construction should constitute 15 percent and 30 percent of the total new constructions by year 2020 and 2025 respectively, and we still have a long way towards achieving the goal," noted Mr. He. "Mhome Group's smart housing manufacturing strategy will make full use of our comprehensive advantages to become a champion of the industry with advanced technologies and efficient operation in a nationwide scope."

Mhome Group opened manufacturing bases in Hubei and Shenyang in 2013 that have been committed to support the development of China's prefabricated construction market. Under the smart housing manufacturing strategy and with the support of national and local policies, the company's prefabrication business has expanded footprints to 13 cities across China in 2019.

About Mhome

Mhome Group (000667.sz) was established in 1989 as a developer of residential and urban homes properties and provider of urban and rural construction services. Headquartered in Wuhan, China, Mhome is now a listed company with prominent presence in multiple industries including smart housing manufacturing, modern agriculture and industrial revitalization of small towns.

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